Gm degens, this Debrief brings to you a weekly curation of key updates & alpha from the cryptoverse.
It's time to dive into another wild week in the world of crypto! So grab your coffee, strap in, and let's go! ☕
Estimated reading time: 5.5 minutes
Here’s what’s inside…
1️⃣ Highlights from the Market 📈
2️⃣ Big Story of the Week ✨
3️⃣ Crypto Expert Takeaways 🎧
4️⃣ Crypto Twitter Roundup: Top 3 Threads 🔥
5️⃣ Trending NFTs: This Week's Standouts 🃏
1️⃣ Highlights from the Market 📈
State of the Market - Essential Updates You Need to Know
1. How the Top 10 Coins are Faring
All coins in the top 10 are in the green! (ignore stables)
The top gainer is Dogecoin - up more than 30% on the heels of the Twitter logo change to Doge
Other top gainers include ETH, ADA and STETH
2. The Crypto Fear/Greed Index
Currently in “Greed” territory
A bit more "greedy” compared to last week..
The sentiment has remained bullish for a while now…will it sustain?
3. Top Trending Category - Meme coins
Dogecoin ralled heavily after Elon Musk changed Twitter’s logo to the Doge logo
This has rubbed off on meme coins, especially other dog coins
Among the ‘majors’, Baby Doge has done really well, followed by FLOKI and Shiba Inu
4. Funds Flow Summary: a Look Into the Big Boys’ Activity
TLDR; Lukewarm interest in digital assets compared to last week
Digital asset investment products had lacklustre inflows of US$2.5m with trading volumes falling 33% from the previous week.
Bitcoin saw fairly positive sentiment with inflows of US$8.8m. Short positions had outflows of US$2.5m.
Ethereum had outflows of US$2.8m with US$0.5m going into short positions, indicating concern for the upcoming Shanghai upgrade.
2️⃣ Cover Story: Game Theory in Crypto: Who's Winning? 🕹️
Game theory helps understand the play-by-play of cryptocurrency markets. It helps us understand how different actors interact with each other. In a recent drama with Arbitrum governance, we get to see how game theory can help us better understand the dynamics of airdrops and decentralization.
Here are some quick takeaways on this topic from a tweet thread by Alex from Scimitar Capital to get you up to speed.
POV: Retail vs. Insiders & Large Airdrop Farmers 🧑🌾
First up, we have the point of view of retail investors versus insiders and large airdrop farmers. Retail investors are folks who believe in a project's long-term vision and convert their fiat into tokens. On the other hand, insiders and airdrop farmers use their financial expertise to dump their tokens quickly and efficiently.
"Decentralization" Can Be a Lie 🤥
Sometimes, the promised "decentralization" is a lie. In the case of Arbitrum governance, retail investors were upset to discover that some actors were "cheating" by dumping more tokens than initially disclosed.
Unfair Dynamics of the Game ⚠️
This behavior is unfair and goes against the rules of the game. While this is not uncommon in the space, it's important to recognize that as the market matures, things should improve, and the rules of the game need to be fair for everyone.
Conclusion: Be Aware of Game Dynamics 🛡️
To wrap it up, game theory is a crucial concept that helps us understand the cryptocurrency market's constantly changing dynamics. Players are always looking for ways to come out on top, and it's essential to be aware of these dynamics and be cautious about who we trust with our investments.
3️⃣ Crypto Expert Takeaways 🎧
Bite-sized alpha from an Illuminati Round Table chat
📈 The Rise of DeFi Options: Insights from 0xSaitama
0xSaitama discusses the rise of DeFi options and the innovative models that Dopex is introducing.
In one of the segments, he talks about basics of options, with some useful examples to better understand the concept.
0xsaitama explains that options are a financial tool that are derived from holding an underlying asset.
When you buy or sell an option, you're making a contract with another party, and as the writer of the option, you're taking one side of the contract.
There are two types of options - calls and puts (both available on Dopex)
On the buyer's side, if you're purchasing a put, you're bullish, and if you're purchasing a call, you're bearish.
For example, if you want to purchase $ETH for $2000 at the end of the week, and ETH is over $2000 at the end of the week, you make a profit based on how much it's up by.
If ETH is under $2000, you won't be able to purchase it. This works the same way for short positions.
Options are super composable, and Dopex uses strategies like straddles that allow users to bet for or against volatility.
For instance, if ETH is currently priced at $1500, and you believe it will move up or down in the next few days, you can buy puts and calls based on whether the price will go up or down.
You'll make a profit based on the difference in price from when you placed the option ($1500) to when the option expires (price may have moved to $1700).
📑 Check out the full round table recap here
🎧️ Listen to a clip from the Space on option basics 👇️
4️⃣ Crypto Twitter Roundup: Top 3 Threads
Essential CT News & Alpha to Catch Up On
🪂 Keep Up with Airdrops on Autopilot
The tweet thread provides a strategy to keep up with the latest airdrop activities - with minimum effort.
His friend created a Discord bot that parses news from Discord servers and sends them to this Telegram channel for easy access.
This Google spreadsheet lists potential airdrop projects and updated periodically.
The author recommends using the NFD platform to get access to step-by-step guides for all potential airdrops and daily updates.
An NFD key can be purchased on OpenSea to access the platform.
Looking for an easy way to keep up with the latest airdrop activities?
Lucky for you, I've got a simple strategy for it that will take you no more than 10 minutes a day.
Curious? Keep reading 👇🧵 https://t.co/fSBTe7iovZ
— Rekt Fencer (@rektfencer)
Mar 27, 2023
㊙️ Twitter's Algo Secrets : Now Out in the Open
Twitter has now open-sourced their algorithm - here’s how it works
Likes are rewarded the most, followed by retweets and comments.
Tweets with media get a 2x boost.
Adding links decreases reach, and non-news or non-media links get deprioritized.
Your followers-to-following ratio matters, keep it less than 60%.
Misinformation and hate speech get punished, and Twitter has a blacklist of topics.
Twitter just open-sourced their algorithm.
Here's how it works for a normal user:
(in Simple words)
🧵 https://t.co/vi1YUr8BDZ— Rohan🧢 (@Rohan_0g)
Apr 1, 2023
🧑🌾 The Best DeFi Farms to Plow into
The tweet thread provides a list of best opportunities to farm in DeFi for April 2023.
The list includes Convex, Goldfinch Finance, Gains, and IPOR.
Convex offers some of the best risk/reward opportunities with ongoing CRV, CVX, and FXS rewards.
Goldfinch Finance offers RWA loans to real companies with previous loans as high as 18% on USDC.
Gains and IPOR offer high yields for traders and interest rate derivatives respectively.
It's that time again!
FARMS OF THE MONTH - APRIL 2023
Let's go through some of the best opportunities around in DeFi.
🧵🧵🧵 https://t.co/4K8knsaTyC
— Wajahat Mughal (@0xMughal)
Apr 4, 2023
5️⃣ Trending NFTs: This Week's Standouts
NFTs that are hotter than your altcoins
The following collections have been creating waves this week (Stats Source: https://www.nft-stats.com/)
1) Gemesis NFT
7-Day Volume : $2.7M | NFTs Sold over 7 days : 27k+
OpenSea Pro (previously Gem) is a NFT marketplace aggregator with more options for pro collectors. They are launching a limited-edition collection called Gemesis to celebrate their community.
“This limited-edition collection encapsulates our evolution, celebrates our community, and embodies the exciting road ahead.”
2) Iron Paw Gang NFT
7-Day Volume : $1.8M | NFTs Sold over 7 days : 1.6k+
Iron Paw Gang is a narrative driven mech project that builds on the walk-cycle genre, by introducing swap-able driver PFPs, and generative soundscapes uniquely tailored to each animation.
Iron Paw Gang is a collaboration between Adam Ape and Random Character Collective.
Do you think Arbitrum is really decentralized? |