DeFi Alpha Call #23 Recap

Hello Defiers! This is a recap of our latest DeFi Alpha Call that took place on 17/11/2022 in Discord.

The recording quality is not the best due to Discord’s technical limitations. We’ll fix this problem in the next recording! To improve today’s experience, we are adding subtitles.

DeFi Alpha is a weekly newsletter published for our premium subscribers, contributed by Defiant Advisor and DeFi investor at 4RC, DeFi Dad, and our Degen in Chief yyctrader. It aims to educate traders, investors, and newcomers about investment opportunities in decentralized finance, as well as provide primers and guides about its emerging platforms.

Market Overview

Not much has changed since last week. Markets are still in rangebound in limbo, waiting for a decision. There isn’t anything major expected until next month with respect to inflation or other important economic data. And since the US elections are coming up in November, this would be a good time for a pump.

Volume has been quite anemic across the board.
We’re just following the macro trends at the moment.
There’s no crypto-specific news or crypto-specific flow that would cause us to decouple in a big way.

I’d expect to see some more upside on the S&P 500 to fill this island gap.

From a technical point of view, this price action from a few weeks ago is called an “island gap” because the market gapped up, leaving a gap on the way up, and then gapped down a few days later, leaving this price action isolated. This is why it’s called an “island gap.”

Ethereum

$1,360 would be the immediate target, considering that we’ve come back into the range, tested the lower bound, and are now grinding our way up.

If we see another rejection, we’ll stay in our comfort zone for a while longer.

NFT Roundup

RTFK released information about something they call “Project Animus.” which is the next drop for Clonex owners.

DigiDaigaku creators have booked a $6.5 million ad for the Super Bowl. They also dropped a new collection named DigiDaigaku Heroes. You can see that it only has 600 owners, which is roughly the same as the genesis collection. So I would say that each holder has about three NFTs. Usually, that’s not what I like to see in a collection that will hold its floor over time.

Last week’s big drop wasn’t big in size or anything else, but it was a big name: Anthony Hopkins.

Even though the Sec is looking into the Yuga ecosystem, Apes are doing pretty well. Mutants have been hurt a little bit more. They are probably putting out a proposal to delay because they want to see how the SEC thing goes before they launch staking. From what I can tell, APE Staking likely won’t come out on Halloween as it was supposed to.

Tutorials

👉 Open an undercollateralized DeFi credit line with Union Finance. Learn more

👉 Bridge to StarkNet and swap tokens for potential Airdrops. Learn more