Cryptic ball: gradually, then suddenly.
What a day. The winning tokens I've highlighted yesterday continued to pump, with bitcoin finally testing $50k again and SHIBA nearly doubling in price! With Facebook, Whatsapp, and Instagram down, it seems that trading meme tokens was all there was to do during nearly half of yesterday (when decentralised social media?)! While things are fine as long as we're above $45k (because it's key support provided by the memetic 20-week moving average), BTC still needs to prove it can really break out before the rest of the market finds true solace.
Meanwhile, the NFT fever continues and it really feels like ICOs back in 2017 - at least in Solana, where mints can easily be done for a couple hundred dollars or less. Many people are now wondering whether they should go for ETH or SOL, but my take is that both can win and thrive at the same time. So try both if, at least if you can afford Ethereum's fees. For that, Bunjil made a nice brief guide that I strongly recommend: it's all about finding the best, most hyped communities that also provide solid utility to their members. Time to go deep on Discord!
Visual block: community, hype, and utility.
Three things: distrusted third parties.
- If you skimmed my market commentary above, make sure you don't miss Bunjil's guide on dApps platforms and NFTs.
- If you didn't understand today's visual block, make sure you read Punk6529's take on how everyone is "insufficiently bullish on NFTs". It's a must!
- If you still haven't wrapped your head around the play-to-earn revolution, make sure you check Carra Wu's explainer of these profitable games.