In This Issue
- I share my thoughts on the state of the market, what the FED said, WTF did China just do, Matic pump watch, Aptos Insanity, Polkadot Development, ImmutableX gaming passports andArbitrum Nova airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on modular blockchains.
- Defi Dad has a tutorial for you on how to earn up to 290% APR with Canto LPs.
- 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
Things are still looking juicy in the market. Bitcoin and Ethereum both moved higher on positive news from the FED. Altcoins broadly speaking continue to see large returns coming in for investors. Some coins in the top 100 have pumped by 10-20% today. Feels like some kind of mini altcoin season happening. And I like it.
The markets pumped so much that famous bear Michael Burry who on Tuesday tweeted sell has now deleted his Twitter account… again…
What The FED Said
Here are the key takeaways from the FED meeting.
- The FED raised rates by 0.25%. This is exactly what was expected. Markets liked this. Stocks and crypto both rallied.
- Inflation is still too high, but we are going in the right direction.
- The FED could either stop short of or go past 5.1%. LOL, ok… But, seriously, this is about the next inflation reading I bet. If inflation keeps falling at the rate it has been then perhaps the FED will stop short of 5.1%, but if the rate of decline slows then 5.1% may not be the terminal rate.
- The expectation is that 5-5.25% will be the terminal rate. Meaning rate hikes could finish by April or May.
BTW, what would Satoshi think about all of this? Everyone sitting around waiting for Central Bankers to tell us what is happening to the money. 🙃
WTF Did China Just Do?
Apparently, China has started to implement a 20% tax on crypto investors and Bitcoin miners in China. Which is a big announcement. Remember, Bitcoin mining is supposed to be banned, but China has utterly failed to stop it. Crypto, while not banned per se, is massively restricted, and again they have totally failed to stop it.
Is this China finally admitting defeat and saying if we can’t stop then let’s just tax it? If so, that is huge! Chinese investors flooding back into crypto would bring an incredible surge of liquidity.
Matic Pump Watch
Something to keep an eye on for a possible “buy the rumor, sell the news” play to Polygon’s zkEVM launch. It is still thought that Polygon’s new Ethereum layer two scaling solution zkEVM will launch in Q1. If so then that means we should see this announced any day now. The announcement of which could cause a price spike which could see a rally into the launch form up. Likely followed, as we so often see, by a sell off post launch. zkEVM will be using matic for governance, but not paying gas fees which will be denominated in ETH. So in terms of fundamental impact it remains…
