In This Issue
- My latest portfolio updates.
- Jesse has a deep dive for you on Toncoin.
- Sam has a report for you on the top 5 NFT marketplaces compared.
- 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 am taking the week off, so haven’t done much with crypto. Didn’t even buy any Bitcoin this week. I did however make time to migrate my MEX tokens to the new staking contract.
Next week is back to the grind, and stacking BTC.
Opensea The King Of NFT Markets
The first mover advantage of Opensea has proven very hard to tackle for newcomers. While we have plenty of contenders, none have managed to really even come close.
Often we get a little early interest for farming coins or whatever and then most NFT traders will migrate back to Opensea, or over to the new flashy option.
The list of competitors is getting long. But at this time the big competitor seems to be Blur which is nearing parity with Opensea’s daily volume. Solana’s Magic Eden and Ethereum based X2Y2 are about even and currently carrying ⅓ of the volume of the two top dogs.
IMX and Looks Rare are about tied as well, and do ⅓ of the volume of Magic Eden and X2Y2.
Brand new players like Gigamart have barely scratched the surface yet. And dozens of other old players languish in total irrelevance.
Anyone remember Rarible? Yeah… they did less than $20,000 in volume today, compared to Opensea’s 6.5 million. Outside of the top 20 markets we are literally looking at daily volumes in the hundreds. YIKES!
The reason I am contemplating this is because I have been thinking of cutting my Looks Rare bag. Competition has risen dramatically in the NFT marketplace space. There are so many new competitors which are in many ways better, or maybe not better, but just the hot new thing. Either way, I don’t feel great about my desperately underwater LOOKS bag. I might cut this soon.
That all being said, many of the major NFT markets could get a boost from Uniswap’s NFT aggregator which draws liquidity from across markets. Or, it could simply funnel more volume to the dogs.
One thing has proven true so far is that NFT marketplace tokens have been bad bets. There is often too much inflation of tokens, and too little reward for holders.
Mercenary capital often only shows up to wash trade and then moves on meaning that even rev share models can fall flat fast. All eyes on a potential Opensea token as well as the newest shiny thing, Blur.
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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Toncoin Review by Jesse
In this week’s Wealth Mastery Coin Review, we’ll discuss What is Toncoin? Including the future of The Open Network.
- What is Toncoin (TON)?
- How do you use…
