DeFi Alpha Call #29

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.

03:11 – Market Overview
10:12 – NFT Roundup
14:49 – How to Lend with Banker Joe by Trader Joe
17:44 – Using Delegate Cash To Keep Your Valuable NFTs Secure

Market Overview

In terms of stock markets and markets in general, we usually see some weakness in the first half of December, but in the days after Christmas, markets tend to exhibit a “Santa Rally.”

Of course, we have the Fed meeting on the 14th, and we’ll likely see some volatility.

ETH

Sentiment: Wait and see mode, tactical trades

• ETH is still very docile. It’s been trading in the same range, trying to break out, then getting back in.
• $1100 is somehow miraculously still holding as support.
• Until this area is decisively broken, I can’t really get too bearish.
• Profitable trades have been basically buying toward the bottom of the range and selling towards resistance.
• In terms of longer-term holdings, I think this is a good spot to DCA.

Bitcoin

Bitcoin is a bit dicier, but I guess that’s to be expected because of the whole Grayscale drama that’s going on. I think DCG will do whatever they have to save Grayscale at the expense of everything else, since it’s a cash cow.

• In terms of price, we’ve broken down and established a new range

• It’s just a matter of trading from level to level.

• I’d look to buy dips toward the lower end of the range until we see a breakout either way.

Dollar

• As long as we stay under 108 on the DXY, I think this continues to move lower and that should be supportive of risk whether it’s stocks or crypto.

• 200MA at 105.5 is expected to serve as a strong area of support on the first touch.

wETH

“When it comes to bridged tokens and how they hold peg, of course that can be unpredictable. But if you’re talking about wrapped ETH on Ethereum, absolutely no issues.”

yyctrader

Litecoin

Litecoin actually has a more constructive chart than both Bitcoin and ETH. It’s one of the better-looking charts that I’ve seen lately.

• When these long-term moving averages tend to cluster in one place, I’ve found it to be quite a reliable sign of reversal.

• This is what traditional technical analysts would call a golden cross.

• Could be a new bull trend developing here.

• Something to keep an eye on.

NFTs

Valhalla is a collection of avatars that can be used in-game. The teaser art looked really good, so we’ll have to see how these develop.

Cel Mates is another one that’s holding up really well and still hasn’t been revealed. This is by McBess, an artist who’s quite well-regarded in the NFT space.

The Memes have been doing really well. These are basically popular memes that have been minted by various artists as part of this whole collection by punk6529.

WAGMI by Kaejunni

RarePass – I covered these in the roundup and they have just gone through the roof. The thesis behind these is that you get pieces from artists like XCOPY whose regular art sells for like hundreds of ETH. So this is a way to get exposure to these top artists in the space without actually having to bid and go out and spend a crazy amount of money.

Cryptobirbs was a weekend sensation that’s died off now. It’s supposed to be a cross between CryptoToadz and CryptoDickButts.

Tutorials

How to Lend with Banker Joe by Trader Joe

During these uncertain times in crypto, decentralized money markets for lending and borrowing remain a relatively less risky option compared to centralized crypto banks. Learn more

Using Delegate Cash To Keep Your Valuable NFTs Secure

As NFTs mature, the scammers that prey on the space are becoming more sophisticated than ever. Attracting holders of pricey NFTs with free airdrops that connect to malicious websites is very common. Learn more

The information contained in this newsletter is not intended as, and shall not be understood or construed as, financial advice. The authors are not financial advisors and the information contained here is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation. We have done our best to ensure that the information provided is accurate but neither The Defiant nor any of its contributors shall be held liable or responsible for any errors or omissions or for any damage readers may suffer as a result of failing to seek financial advice from a professional.

Would you like to sponsor this Newsletter? You can book an ad here.