In This Issue
- I share my thoughts on the state of the market, Genesis saga still going, Ethereum Shanhai testnet, what bear market, Woo tokenomics update, Avalanche AWS partnership & Optimism airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on bull traps vs bear traps.
- Defi Dad has a tutorial for you on how to earn 19% APY with DOT liquid staking on Parallel Finance.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
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What’s On My Mind by Lark
The State of the Market
Something finally happened! It was starting to feel like Bitcoin was a stablecoin.
We are seeing lots of narratives forming up. A few of which I want to discuss momentarily with you. But volumes are picking up. Altcoins are pumping with many coins putting in 1-200% gains. NFT volumes are up 26% in the last week.
The volatility in the crypto market is back to some extent. And this is good, because the volatility got super low. So low, that is was reminiscent of the volatility of previous bear periods and the kind of boring times that came just before explosive market moves.
Bear market rallies can be glorious. The 2019 rally saw Bitcoin pump by 300%, and many altcoins pump by 10 or 20X. It is perhaps too early to say that we could be getting ready for such a rally and there are major macro factors that could still drive markets down. So just remember if you are making trades or short plays that the markets can turn real fast. And we are still a long way away from being able to say a major reversal is underway. So don’t be afraid to book some profits on those short-term plays or use these bear market rallies to slice off some bags you have lost faith in.
Let’s just hope that tomorrow’s inflation data announcement doesn’t derail the market. All eyes will be on this event.
Genesis Saga Still Going…
Things just keep going from bad to worse for Genesis, the one time leader in the BTC lending and OTC space. Cameron Winklevoss has accused the Digital Currency Group of outright fraud in a letter he published on Twitter. In Response DCG basically said that it was Gemini’s fault for trusting Genesis… WTF? Things could be about to get a lot worse for DCG and Genesis though as they are under investigation for fraud right now by the SEC. A bankruptcy is still a very real possibility. The effects of which could cause some real pain across the crypto market. And while many continue to fear monger over the Grayscale assets it is strongly worth remembering that DCG just administers the trust. A likely scenario in a DCG bankruptcy would be someone else buying and managing the trust. Buyers are already making plans in fact.
And as if that wasn’t causing enough drama, there is Huobi. Apparently the exchange has shut down internal communication channels for employees. The exchange has already lost about 90% of its market share in the last two years, but recent events have seen huge…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
