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Aggiornamento del mercato - Crypto & NFT

"This morning I checked my portfolio and ... it's continuing to go down!!!!!!



That's what Goblin Town is in Crypto, ladies and gentlemen-it has never been a good place and never will be!


Unless you have been 100% short with your full portfolio for a few weeks, you will be experiencing the pains of hell (we are referring to hodlers).


Jokes aside, the massive macro influence with interest rates rising to tame inflation, plus yesterday's CPI was higher than expected, suggesting that the Fed will raise rates again soon. Then there was Terra's mismanagement of funds, which further aggravated the situation by dumping significant amounts of BTC into the market (found the article here). Overall, it was not a great week for cryptocurrencies.


When will it be resolved?

No one can know, but this can be considered "the beginning of the end of the bottom"-meaning the bottom is getting closer in time (we're talking weeks, not hours).


Is this the first collapse?

No, the market has survived every single crash since BTC has existed, without exception (shitcoins excluded). There are two sides of the coin: one is that these are very painful drawdowns, the other is that the sell-off applies to every single asset, even fundamentally sound ones.



What do we do now?


The prices have changed, the way of thinking is still the same.


There are projects that we have been following for a long time, projects that are solid and established over time, with investment rounds behind them and billion-dollar revenues per year.


We will use this historic moment to increase some of the positions in our crypto portfolio and to develop a potential watchlist of NFT projects, for the next bull run.


If we look around, we can see many interesting entry points, however we are certain that the DIP has not been reached and therefore we are not going to invest much of our cash, at least not now.


Among the most attractive prices, we would like to point out DYDX.

The upcoming decentralized FTX, as we have already mentioned, is the only decentralized exchange that is going to distribute 100 percent of the revenue within the ecosystem, by the end of 2022. The exchange price is $1.95. Our initial plan was to buy DYDX in the range ($3-$5), but seeing that things were not improving we held back for a while and are obviously glad we did. Regardless of the price, however, DYDX's fundamentals are improving and the price will catch up with them over time. The price may come down further, but already we are having the opportunity to buy DYDX at a very low valuation.


Lo sappiamo, questo grafico è la cosa più Bearish mai vista, ma sappiamo tutti come funziona il mercato crypto!

That said, DYDX is just one example.

But here is what one must keep in mind at this time:


This is not the first market crash and it won't be the last, they are painful and unpleasant, recoveries are never as quick as one would like and prices always fall more than one expects, but at the end of the day recoveries happen and a few months later people will look back and think, "Gee, I missed out on buying X at this super undervaluation because I was too busy complaining about my drawdown."


NFT ARE DEAD (?)

The same is true of the NFT landscape.

Although an extremely young and risky market, non-fungible tokens have proven to be investment assets not to be underestimated. They have been and continue to be in the crosshairs of Silicon Valley investment funds-the collections of Moonbirds, BAYC, and CloneX (RTFKT) are constant confirmation of this.


Volumes, although lower than in April, are significant.

The media and NFT haters love to shout the phrase:" NFTs ARE DEAD." Undoubtedly, it has been a tough few weeks for the world of ''JPEGs,'' marked by such unpleasant events as the GAS war in Otherside, followed by the market crash and the news of the 3 RUG PULLS by the founder of AZUKI (one of the most capitalized projects in the NFT landscape).


But the data speak for themselves:

VOLUME MENSILE: $1.7 miliardi nel mese di Maggio

dauly volume

The term "Dead" seems misplaced to us, since we are talking about a volume of nearly $2 billion, in just two weeks.



META Platform

From Mark Zuckerberg's META front, there is a lot of news involving NFTs and Web3.


To mention one, Instagram will integrate NFTs within the platform. Creators will finally have the opportunity to monetize their work, getting financial returns in addition to the useless likes.


But what is the best aspect of this integration?


Instagram will initially support Ethereum and the Polygon network, as it is cheaper and eco-friendly. It will require users to link their wallets to the social network. Later Flow and Solana will also be integrated.


Mark also said that the entire metaverse they are building will be interoperable with other layers of the metaverse and will therefore support different blockchains.


This means that the current NFT collections, will also be able to be used in a "centralized" context such as Meta.




We continue this topic on our Discord server...

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