Latest News in the Cryptocurrency and Investment World
The metaverse is everywhere
It seems that the crypto community is way ahead of the curve. Nothing new there. Facebook announced that they had changed their name to Meta to reflect their focus on the metaverse. Whilst blockchain entrepreneurs have been developing metaverse applications for a few years now Facebook gave it mainstream recognition. Before that announcement the average person hadn’t even heard of the metaverse and if they had they didn’t have a clue what it meant.
Here is a brief definition for those in the metaverse beginner camp:
A shared, realistic, and immersive computer simulation of the real world or other possible worlds, in which people participate as digital avatars.
Investors are piling into cryptocurrencies which have even a faint connection to the metaverse.
The top 5 cryptos in the metaverse space are:
- Axie Infinity $7.0B
- Decentraland $5.0B
- The Sandbox $4.7B
- Enjin Coin $2.7B
- Illuvium $0.8B
A few long shots worth a closer look:
- Somnium $0.2B
- Rentible $7M
The metaverse is an interesting concept to investigate, from an investors point of view anyway. There are two plays. The first is investing in the cryptocurrency and the second is buying land. Let’s take Decentraland for instance. Its fully diluted market cap of $10 billion is priced to perfection. In other words the valuation already assumes they will be a leading player in this market going forward. And that thinking is also priced into the value of their virtual land which is selling for up to millions of dollars.
Virtual land is like real estate. It is in finite supply with location playing an important role in its value. Canny investors are buying up virtual land plots on various metaverses expecting to either develop it, rent it or flip it.
The metaverse is set to be part of our future. However, a few words of warning. Don’t go rushing out to buy the next shiny metaverse project. 99.9% of the new projects coming to market will fail. Also remember, buying virtual land comes with risk. Like buying land in the real world, if you purchase a plot within a metaverse where there are few visitors your land will have as much value as buying land in the middle of the Sahara.
dYdX and the perpetual
Let’s start with, what is a perpetual?
A perpetual swap is something similar to a futures contract. The core difference is that perpetuals do not have expiration dates.
dYdX’s perpetuals have proved so popular that they have eclipsed Coinbase in daily volumes. It achieved this by solely offering perpetual for four assets. dYdX is now one of the most liquid exchanges in crypto.
- The influential FATF (Financial Action Task Force) wants governments to hold the people behind DeFi protocols accountable. This will send the shivers down the backs of the many platforms that have decided on anonymity. This proposal is not likely to come in for some time but it is something that we can see being implemented and enforced ruthlessly.
- Muslim leaders have warned their flock that crypto is forbidden. According to these well informed individuals, ‘it has elements of uncertainty, wagering, and harm’.
- Binance CEO announced that he intends to give away up to 99% of his wealth. No doubt this raised the eyebrows of US authorities who will be eyeing much of his wealth for themselves!
- Binance made Know Your Customer (KYC) mandatory for global users in their effort to make Binance a regulatory compliant business.
- In another attack on the DeFi space. BlockFi, which offers high interest rates to investors, is being investigated by the SEC. The SEC considers that BlockFi’s interest accounts represent the offering of unregistered securities, something that no doubt the SEC will use to target many other high profile yield farming platforms in the near future.
- Cardano the blockchain platform has achieved over 20 million transactions worth over $18 billion. That figure is only slightly lower than that of Bitcoin and compares to Ethereum’s $9 billion. The price of ADA however is in the doldrums with many complaining of the lack of DAPPs because of its complex programming language.
- eToro announced it was delisting Cardano and TRON by the end of the year for US customers as it believes these coins could represent securities.
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Moonshot TV going strong
Last month our very own Moonshot launched his new show, Moonshot Weekly. This is a weekly show where he reveals one new moonshot every week. The focus is on micro cap cryptocurrencies which he feels have the best potential for massive growth.
Listen to this week’s show here and discover what he believes is potentially one of the most exciting moonshot opportunities in the micro cap space right now.
Inside Track podcasts
We continue to build our library of interesting content from emerging projects and technologies in the blockchain space. Inside Track is the best way to learn about cryptocurrency from experts in the field as well as discover emerging projects from NFTs to DeFi, from memecoins to launchpads.
This month we produced the following Inside Track podcasts;
- OIN Finance – the DeFi platform talks staking and regulation.
- Rx SeedCoin – the project aiming to relieve world hunger, homlessness and sickness talks combining crypto with compassion.
- Coinberry – the first regulated crypto exchange in Canada talks competing with Binance, regulation, the future of crypto and what crypto the CEO would spend a spare $1,000 on.
Listen to our series of Inside Track podcasts here
Staking and Yield Farming
Each week we provide the latest APRs from leading staking and yield farming platforms together with news from the industry.
Staking and yield farming has been a major driver in the huge growth in the DeFi sector. Investors are being enticed by the massive APRs on offer. Totally new projects tempting investors with returns of 10,000+ % are able to attract a deluge of money from investors who don’t seem concerned with the high risks involved. Our weekly review looks at the best platforms out there and the ones to avoid. We attempt to weed out the platforms that we think won’t stand the test of time.
You can read our weekly reviews here.
You can also watch our YouTube video which takes a deep dive into the world of staking and yield farming and attempts to explain the most complex issues.
You can sign up to receive your weekly review here
Catchy by name Catchy by nature
A tracker wallet that has to be tried to be appreciated!
Tired of manually adding token addresses to Trustwallet? Tired of seeing out-of-date and inaccurate balances? Tired of switching apps to check on your multiple wallets? We present CATCHY, an innovative solution that facilitates wallet tracking, implemented directly on Telegram, the flagship crypto platform. CATCHY aims to provide a suite of crypto tracking tools for Telegram users. From the currently available multichain (BSC + ETH) Telegram wallet tracker, to the upcoming whale watcher, price alert, and sniper bot tools, our vision is to create an ecosystem that satisfies all crypto enthusiast needs. Today, we’ll give a small overview of our multi chain wallet tracker and the many useful features it has to offer.
Our Telegram wallet tracker is made with both accessibility and convenience in mind. Simply talk to one of our tracker bots (found in our telegram group @CATCHYTOKEN here), and it will direct you to the tracker bot you were specifically assigned to. From there on out, you’ll only use one command: /wallet. On your first use, the bot will notify you that you haven’t added any wallet addresses to the tracker and will ask you about the blockchain you wish to use. Keep in mind that you can add up to 3 wallets at any time, and they can belong to different blockchains, so your choice here isn’t final. Reply to the tracker bot’s message with a wallet address of your choosing, and you’re good to go!
Note that the tracker DOES NOT require a wallet connection, making it the absolute safest option to keep tabs on your balances. The tracker can never be linked back to your person either, as it relies on an anonymous numerical ID that is unique to each individual. The bot you were assigned to will remember you through that ID, so you’ll never have to go through the setup process again.
After you’re done with the first step, the tracker will immediately attempt to fetch your wallet balances based on publicly available data. Just wait a couple seconds and VOILA: the balance of every token in your wallet, valued in USD and BNB/ETH (depending on the chain), ranked by value. These values are the most up-to-date balances you can fetch, as they rely on the BSC and ETH blockchains directly instead of waiting for other services to supply prices (like Trustwallet for example). From this point onwards, you’ll rarely ever need to use /wallet again, as the buttons supplied under your balance sheet are more than enough to satisfy any needs you might have.
The [Refresh] button immediately updates your balances, the [Gains] button enables percentage gain calculation from the last time you pressed [Refresh], the [MC] button adds the market cap of every token directly into the balance sheet, and the [Charts] button offers immediate access to the charts of your tokens. The [Manage] button allows you to add wallets (up to 3) or remove existing ones, as well as play around with language settings (English and Chinese are available at the moment).
At CATCHY, your convenience is our utmost priority, and we hope that is reflected in the intuitive design of our tracker and its ease of use. However, our most convenient feature is one that you’ll rarely ever notice: Scam/Dead token filtering. Unlike sites like poocoin, where you have to manually hide dust and dead tokens, our tracker automatically does that for you by employing our own filtering system. And if our system oversteps its boundaries, you can use the [Show Missing & Hide Existing Tokens] button to take full control of your tracker’s output. These choices will be saved forever, so you’ll never have to reconfigure your balance sheet.
Our tracker strikes a delicate balance between convenience and complexity, offering you extensive control of what you see without sacrificing simplicity and accessibility. The tracker is currently free for users to try and explore, but in the near future, you will have to hold CATCHY to make use of its features, making it the first of many use cases that are coming down the line. Please visit our website here for further details on the tracker and other products currently in the works.
Also view our short video tutorial here.
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Not Financial Advice
This article does not constitute financial advice or a recommendation to buy in any way. Always do your own research and never invest more than you can afford to lose. Investing in cryptocurrencies is high risk, and you could lose 100% of your investment. The article should be treated as supplementary information to add to your existing knowledge.