DeFi Alpha Call #24 Recap

Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 24/11/2022 in Discord.

The recording quality is not the best due to Discord’s technical limitations. Discord Nitro was not enough but we are working on it! To improve today’s experience, we are adding subtitles.

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Market Overview

No change from last week. Still waiting for a decision. When the range breaks, we should see a bigger move in either direction. On the upside, it would probably target around 1,450 to 1,500. And on the downside, if the range breaks down again, the next likely target would be 1,100.
The market is balanced and just waiting for the next catalyst. Since we’re closer to the top of the range, I’d say it looks a little bit better for bulls right now.
Next Wednesday is the Fed meeting, and as of today, there is a 96% chance that rates will go up by 75 basis points.
The dollar is still strong and we need to see a sustained reversal.

ETH & Bitcoin

Still in the range, still waiting for a decision.
Monday’s rally happened right after the Bank of Japan bought up the Yen by 2% in a matter of minutes.

If prices stay in the range for a while, it means that the market is just getting used to the new level it is at. If it stays at that level for a long time, it means the market is comfortable, buyers and sellers are in balance, and they’re waiting for the next catalyst.

NFT Roundup

NFT volumes are just dropping by the week. There’s probably a maximum of 40,000 – 50,000 people who actively trade. At this point, we’re just flipping to each other and waiting for the next cycle.

Azuki had a nice little uptick in volume. I think that’s after they announced something called “physically bound tokens.”

Nyoling has almost 200 ETH in volume. Never heard of it. Maybe one to watch.

Warner Brothers NFTs for Lord of the Rings fans. When you buy the NFT, you get access to a website where you can watch an extended version of the movie.

Also mentioned: FIFA NFTs on Algorand for football fans and Cardano NFTs have been doing very well.

Tutorials

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