DeFi Alpha Call #31

The DeFi Alpha Call is an exclusive weekly call for our premium subscribers where yyctrader and Diego talk about the market, the newest tutorials, and the hottest NFTs.

The link to the recording and summary can be found below.

00:00 – ETH

02:00 – Bitcoin

02:56 – Dollar

03:34 – TON Coin

05:33 – GMX

06:10 – MAGIC

07:40 – Cockpunch

09:30 – Sappy Seals

10:55 – Tornado Cash

14:42 – NFTs

16:57 – Starter Tutorial: Earn Up to 54% APR as a Staked ETH LP on Balancer
19:03 – Degen Tutorial: Using ZetaChain For A Potential Airdrop
29:44 – The Beacon game

ETH

ETH has been in a range throughout December and markets are waiting to see what the Fed will do on Wednesday. The consensus is calling for a 50 basis point hike, but the press conference after the decision will be more important. Seasonal trends indicate that the first two weeks of December tend to be weak, but we generally see upside heading into the end of the year.

Still looking for $1360.

DOLLAR

• The dollar is consolidating under the 200 DMA

• As long as it stays under 105, it will likely continue to leak lower

• The next support level is 103

• Hitting this level could take ETH to a target of 1360

TON COIN

• The chart looks bullish and the previous resistance area has been taken out.

• The project has released news about the ability to buy a fake phone number with the TON token.

GMX

The GMX token is performing well, reaching almost an all-time high despite the current bear market. This indicates that the ‘real yield’ narrative is still of interest to investors. Same as GNS.

MAGIC

• MAGIC is the token of the treasure ecosystem on Arbitrum, which has an NFT ecosystem and games.

• One game that’s taking up a solid chunk of blockspace is called Beacon, a dungeon crawler game

• In the game, players can mint a character and sell earned items on the marketplace for MAGIC and ETH

• The game has been getting some traction and is one of the first blockchain games that I’ve found to be fun and feels like an actual game.

SAPPY SEALS

It doesn’t seem like Sappy Seals has been moving much, but there has been a pump in NFTs overall due to the third Blur airdrop. There are currently over 20 million worth of bids on the platform from people looking to farm the airdrops. It appears that the campaign is bringing in a lot of activity so far.

NFTs

I think that the increase in NFT volumes this week, particularly in Valhalla, has been significant. The Mutants and Apes NFTs have been doing well and the volume is coming from Blur.

1337 Skulls This is the project that I was talking about. They had windows for specific projects that lasted for a short amount of time. They started off with Loot and Punks and other OG collections. Watching the Twitter account was like a walk down memory lane because there were many projects that I had minted, sold, forgotten, or gone to zero. It was cool to be able to mint and remember them. Unfortunately, it was only one per wallet. The art is pretty cool and it’s a free mint

TUTORIALS

Earn Up to 54% APR as a Staked ETH LP on Balancer

A new Balancer Stable Pool for wstETH-cbETH has been launched and is currently providing netting 22-54% APR in total yield for LPs. The yield is backed by Balancer trading fees, ETH staking yield, and BAL rewards, depending on how much veBAL an LP holds.

Balancer Stable Pools are ideal for pegged tokens like stablecoins and correlated tokens that trade near 1:1, such as wstETH, wETH, and the new liquid staked ETH token by Coinbase cbETH. Learn more

Using ZetaChain For A Potential Airdrop

ZetaChain is a smart contract platform that aims to enable DeFi apps to access liquidity across different networks. It uses ZETA tokens as an intermediary when transferring value across blockchains and has been running a testnet since the summer. The platform’s mainnet launch is expected in Q1 2023.

In this tutorial, users can claim a Zeta Supporter NFT, get testnet ZETA tokens and swap them for USDT and claim another NFT. They can also confirm their participation on the Guild page and collect Zeta Points for inviting friends to participate in the testnet. Learn more