ThomasFJE's avatar
$2.6m follower assets
This has to be a joke… right?🫠
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Nathan Worden's avatar
$313.4m follower assets
Luna down 95% in the last day
More $LUNA is being minted in order to stabilize the stablecoin $UST, which lost its peg to $1 over the last couple of days and has fallen to $0.44. Traders are selling (and probably shorting) $LUNA.X in anticipation of more $LUNA.X being minted in order to try to stabilize $UST.X
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Crypto Margin Call
When I saw LUNA & ANCHOR both down 50% first thing this morning, I knew the shit hit the fan somewhere. LUNA is one of the very few crypto assets that has gone up over the prior 3 months, doubling in that time while Bitcoin was cut in half.

Interesting story and details why I don’t trust most stable coins or the “currency” part of crypto. I’m not going to pretend I understand how LUNA’s algorithmic stable coin works, but I have read articles from programmers on the project who tried to break it down for layman. It sounded like an interesting idea, one they thought couldn’t fail. Clearly that’s not the case. And while I’m a content holder of $LUNA.X, as with the rest of my crypto, it is a VERY small slice of my pie. As much as I believe in the future of the technology, I’m a realist and an investor, not a speculator, so I keep crypto to a manageable % of my portfolio that I could handle going to zero.

Just a reminder to any newer investor’s. Regardless of personal conviction, be wise with risk allocation. I may believe in crypto and Coinbase, but I also understand the risk involved and allocate accordingly.
Crypto is NOT another asset class
If you are looking at crypto as another asset class, you might just miss the boat. Crypto “currency” may be another asset class, but don’t be misled, currency is one very minor slice of the pie. Currently Bitcoin (technically a currency) is damn near all of crypto market cap, but blockchain, crypto coins, tokens, and NFT’s are not going anywhere and they are not another asset class, they are revolution and will forever be an alternate investing universe. Some may be monetized and be more traditional investments, but most will likely never be valued like traditional investments.

There are coins like $INDEX.X M, that gives investors exposure to baskets of crypto investments in DeFi, the metaverse, Web 3.0, and the data economy.

$ENJ.X is a gaming and NFT marketplace with their own interactive trading.

$LINK.X is a coin that is used for Chainlinks ecosystem, an oracle network that links blockchain smart contracts to real world data sources and is used by many relative crypto platforms.

$LUNA.X created a fiat pegged currency for almost a dozen important global currencies and will become more valuable as their coins are minted and burned to maintain the value of their algorithmic stable coins.

$AXS.X is a blockchain game with millions of dollars in daily transactions where users own in game items and are much more involved in creative and/or ownership opportunities.

$MANA.X is a blockchain hame focusing on the metaverse where individuals buy virtual land and build marketplaces and monetize other assets.

$FIL.X is a peer to peer file storage network, other similar platforms include $SC.X & $STORJ.X

$SNX.X is a coin that represents fractional shares of real world commodities like gold, stocks, or other tradable assets.

$FET.X is AI for exchange of data on chain who’s potential os still being harnessed

$LPT.X is like YouTube for Web 3.0 basically

Platforms like $COMP.X, $AAVE.X , $MKR.X allow person to person lending & borrowing

Decentralized exchanged like $UNI.X, $CAKE.X, and $SUSHI.X

Centralized exchanges like $COIN (public stock) or $CRO.X

$NMR.X is a hedge fund that allows data scientists and developers to develop machine learning models and compete at creating effective AI prediction models.

$CHZ.X is a sports coin that allows users to connect and enjoy special offers from their favorite sports clubs and organizations. Started with European soccer but recently signed UFC and NBA.

And platforms like $VET.X and $IOTX.X I expect to significantly impact the internet of things and supply chain logistics. If UPS or FedEx gets hold of either of these products, watch out.

Just a few examples off the top of my head to show how wide the world of crypto coins and toke s can really get. Looking at it as another asset class is foolish in my opinion. There is another investing world open to us, it’s open 24/7/365, how can it possibly be just another asset class, it’s clearly an entirely new market; please don’t miss the boat, at least start learning.

PS, I’m still 80%-90% stocks and not one of those crypto to the moon folks, it the possibilities are literally endless and I only get more excited the more I learn. Just expand your horizon beyond Bitcoin.
Definitely think most is faddish. I only invest in things I believe in, it’s a crap shoot and why I limit my exposure. I definitely read for months before I started to feel like I was starting to understand anything and am still barely scratching the surface, even with dozens of holdings across multiple wallets and exchanges (experience), it’s still complicated and too difficult for mainstream adoption. But as people continue to realize they can cut their bank out (of some of their savings at least) and make their own money on their own money, the tide will continue to shift. The millions of dollars in transactions and billions locked up on these platforms speaks for itself.

Once one starts reading, real info about the industry, not influencer BS, you’ll be surprised how well being an intelligent investor, who does some due diligence, pays off in crypto. We’ll see long term, but so far, following basic Buffet & Lynch principles has worked better than I could’ve ever imagined. You can spend 5 minutes on a website and know not to buy most of the BS people are pushing in crypto. Just be an investor, not a speculator😉

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LUNA and the making of a new reserve digital asset
A few days ago, the Luna foundation announced that they were buying +$200M BTC as part of the token collateral to support $UST.X. Now, they announced they're also buying $AVAX.X.
The idea is to back Luna's stablecoin ($UST.X) with other assets aside from $LUNA.X and have a a more robust asset backing. The minting and burning of LUNA/UST will also change to involve other assets.

For a quick overview on this ecosystem, check out this post:
Eric Pelnik's avatar
$266.9m follower assets
My Portfolio: 04/08/22
Not much change here from the previous month (see link below).

I still DCA into $VOO and have started doing that with $LUNA.X via Gemini.

$ETH.X exposure has increased versus $BTC.X given some NFT sales.

I will continue to use the $VOO as a barbell to my crypto exposure.

Debating moving some into $CRM and $MSFT, which I see as safe bets.

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Top performing alts during the crash:

  • $FTM
  • $AVAX

These are the ones to focus on. Others are worth buying as well, but their relative strength should not go unnoticed.
I read this memo when it first was posted and there was a split 3:1 on stocks that were down (I think) and looking now they all closed in the green... cool to see!
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Shreyash wrote this awesome memo on the Terra ecosystem back in APRIL. Terra (the $LUNA.X token) went from $13 to $82 in that timeframe.

Shreyash is always tinkering and building with new crypto projects. Definitely follow him if you want a crypto dengen in your corner!

$SOL, $LUNA, and $AVAX have been sold off too aggressively lately. Expecting them to lead on the next bounce as people become risk-on again.

Afterwards, expect the usual rotation into smaller caps like $FTM, $NEAR, $ONE, $MATIC.

Intuitively, I expect big funds are bidding SoLunAvax here because they are high growth assets that are also relatively low risk.

Retail and high net worth individuals more likely to bid alt L1s because they need to capture greater upside and volatility isn’t a concern.
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