In This Issue
- My latest portfolio updates.
- Jesse has a deep dive for you on the top 5 Polygon altcoins.
- Sam has a report for you on Moonbirds.
- Rebecca breaks down this week’s trending coins.
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Buy, trade, and hold 600+ cryptocurrencies on Binance
Lark’s Portfolio
This Week’s Moves
I cleaned up a few small tokens (Epik, GF, and Quidd) that I got from my venture investment.
Otherwise a quiet week. Just a small Bitcoin buy.
My buy orders are still in, just in case we get any chaos coming.
Defi Is Far From Dead
One thing that has become super apparent with the FTX meltdown is that defi is not dead. Far from it. If you notice all of the bankruptcies this year made one priority, pay back their defi loans. Because unlike a bank or hedge fund you cannot negotiate with a smart contract. You either have the money or you don’t.
That being said, yields have largely fallen across defi. A quick look across top protocols shows that even safer plays like stablecoin farming are generally returning pathetic yields. Money has largely fled from defi, down 130 billion in a year.
The question from an investment perspective for yield farmers would be why risk a smart contract hack where you could lose literally everything to earn 1% on Aave when you could earn 4.75% with US treasuries?
The one thing that may make sense right now from a yield farming perspective would be using assets like ETH or AVAX in farms to earn higher yields than staking would earn. That play could make sense, that is if the tax implications don’t screw you.
The rise of perpetual swaps in defi is a promising development. Platforms like GMX, Gains, and Apex are all working to shake up how trading happens in crypto. While Uniswap has long served as the big shitcoin casino, the truth is that traders love leverage, and now they can get it on chain.
One thing to keep an eye on too is real yield. Most defi coins suck really bad. Like Uniswap’s UNI coin. There is literally no reason to buy this in its current form. There is no yield. No fee burning. You just get some vague promises of “goverance” which is all run by VC whales anyway.
Whereas coins like GMX, GNS, SNX, JOE, and many others pay out actual money to those staking their coins and let you benefit from holding the tokens by earning yield. The only challenge is lower volumes due to the bear market which affects earnings for coin holders. But if these coins are performing this well now, then how will they perform in a bull market?
Defi is here to stay. It has growing pains and challenges, and this bear market will 100% see some smaller players close up shop. So be careful, but others like Aave will go to redefine finance.
Open BUY and SELL Orders
(NOTE: You should never blindly follow my moves. I share these for educational purposes, not as signals for you to trade on)
BUY
- Bitcoin $14,000 & $12,500
- Ethereum $900
- Rose $0.03
SELL
- TVK $0.10 – This will be the final cut from my moon bag
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