Saturday, November 6, 2021

Crypto Marketup by TraderGabi

Disclaimer: I am not a financial advisor. Anything said in this report is strictly opinion and should not be used as advice. All actions are at your own risk.

I write these updates to keep my community up to date to with cypto markets. Enjoy Reddit!

Crypto Market Update for Nov 6

Completed at 1230 HST

Major News

- US government stablecoin report is out. It recommends that Congress enact laws to treat stablecoin issuers as if they are banks. This could have huge implications for the crypto market, and USDC and USDT stablecoins would be the most likely effected. Decentralized stablecoins such as UST and DAI would most likely be a strong alternative.

- Congress passes 1.2 Trillion Dollar Infrastructure bill which includes provisions on crypto. The bill is now on the President’s desk. Notably the IRS’s definition of a “broker” to include organizations which trade crypto. The definition of a “broker” is vague, and this is concerning to the crypto community because broker is being interpreted to include validators, defi, wallet providers and miners. Read more about this below:

https://decrypt.co/85450/congress-passes-1-2-trillion-infrastructure-bill-paving-way-for-extra-crypto-taxes-in-u-s?&utm_medium=referral&utm_campaign=feed&utm_source=editorial?utm_sourc

Market Update

- Bitcoin continues to hover around the 60k level where it has been collecting liquidity. On chain metrics and fundamentals are extremely bullish and this could be an accumulation zone for BTC. Taproot update is slated for Nov 16th and this could be a great catalyst for early upward price pressure. More information on Taproot to come in upcoming reports.

- SOL continues to stay strong. Its smaller protocols are beginning to increase in volume and price. The conference for Solana ends on Tuesday and I will be closing out those smaller positions and moving my focus to BTC. Solana is still a great long-term hold.

Notable gains on Solana protocols 7d gains

SOL 27%

SRM 5%

RAY 18.5%

MANGO 40%

ORCA 29%

STAR 14%

AURY 55%

TULIP 91%

- Avalanche is having a very strong week with all the incentives programs. It is up 18% this week. A lot of the smaller protocols on AVAX are having a strong week as well. Many of these protocols have very small market caps and can present large opportunities if played correctly. I’ll be looking deeper into AVAX in the coming week.

Notable AVAX protocols 7d gains

AVAX 18%

JOE 3%

CQT -1.9%

QI 35%

XAVA 33%

PNG 18%

- Terra LUNA is one to keep an eye on with the stablecoin regulations starting to heat up. Terra UST is a decentralized stablecoin that is the most likely frontrunner in mass adoption.

It currently holds a 2.8 billion Dollar MC. The notable information about LUNA is that it must be burned to create UST. With a decreasing supply of LUNA expect strong upward price pressure. If you don’t know about LUNA, now is a great time to study up on it.

- Play to Earn and Metaverse sectors are the strongest performers today with an 8.8% and 6.9% gain for the day. I expect these to continue trending upwards in the coming months as a lot of funding will start entering the space after the major Facebook announcement. I continue to emphasize keeping a close eye on this sector. Metaverse talks are becoming mainstream and with that comes lots of opportunity. The metaverse sector was the strongest sector of the week with a 52% gain.

- Kadena (KDA), an up-and-coming layer-1 has caught my attention. It’s up 88% for the week. It’s time to take a deep dive into this one.

- To stay ahead of the narrative, I’ll begin moving my attention to Bitcoin next week as the major update TAPROOT will be coming out NOV 16th. BTC has been relatively quiet and accumulating. It could be set for a strong move.

NOOB Lesson of the Day

Bitcoin Halving

The Bitcoin halving is a change in the bitcoin protocol that occurs every 4 years. The halving is when rewards for miners get cut in half. This cuts the rate at which new bitcoins enter the market by half as well. It’s part of the scarcity aspect of BTC discussed about in my latest report.

The halving is one of the major events in crypto and it’s why the crypto market historically has followed a 4-year cycle. Lower supply has meant higher demand which has equaled higher price.

There is plenty of information on the halving out on the web, my goal here is to make you aware of it and its implications. Do the deep studying on your own, it’s part of this journey. Goodnight Fam!

- Gabi

Saitamask!

Less than a week for the great event in L.A. im one of the lucky 100 that won invitation and NFT and also 1 in a 100 to win Tesla m3.. shame that i wont be attending cause im in EU working 6days a week which im gonna quit next year :D and im still not Vaccinated (no im not anti vax) so for me to get to USA is rly hard i might fly there and be turned back.. sucks that i wont be witnessing this historical event. Hope people who attend share their behind the scenes for us who wont be there.. Anyway enough ranting point of this post is not to grieve publicly :D I want to ask people who had a chance to betatest Saitamask. how is it, all good? :D is audit being done is done? Didnt find any info about that.. is Saitamask all good? wont be delayed? no fud but if there are some issues specially security then it wont be good either way.. if they delay release people will fud it will hurt Saitama's image.. if they release it with bugs it could really do damage.. Max and his team working hard and i believe they will deliver but will they deliver on time? so those who tried it could you tell about your experience or you cant disclose that info publicly? if not then PM me :D all these news and partnerships and things Russell says about the future of this COMPANY i really do believe that we are like early Apple investors, gonna be ups and downs but innovating and moving forward.. Hope all of you will reach your goals surpass them take what you need and live on reflections and staking cause what these guys trying to do..... realistically people think next year we will kill 2-3 zeroes and have mcap about 100bill be top5 crypto etc... but lets think about longer term.. 10-20 years.. dont think about how much coins there is and how fast they burn dont try to calculate how fast it will diminish.. think about what this COMPANY will be if we achieve half what they trying to do.. esport ufc nba legends and their nft's charity events oh also two games and BIG PHARMA? damn hard to believe but if all goes smooth they make their specific secure blockchain that retailers and small time business people also big companies would want to use it cause its so simple good popular and most importantly secure...so in time, globally this Company could be worth more than T (for trillion) before you start saying crypto has only 2.7t mcap think the longer term think more than 5years think how much people turn to crypto when they start understanding what is all about.. humans dont like changes they look at them suspiciously but with time they must adapt no other way.. old people dying new digital generation coming.. we live not in our countries with our (sorry to say) useless traditions, religions and egoistic way of life.. We live on this planet which is connecting each other more and more.. think about 10years ago vs 10years into the future.. keep your coins, trillions, hundreds of billions or millions use them in games in their blockchain but dont cash out when u reach your milestone of 100k 1mil 10mil etc.. in 10years FIAT currency will lose a lot of its value due inflations and other unseen things might happen with economy, climate, wars food shortages etc.. Bitcoin for me is like a collectors item, Ethereum has is use now, there are many good coins to invest hold hodl trade etc.. but Saitama LLC could really be something in 5years. my friend took some profit 40k e bought MB E class coupe.. damn nice car would like to own it and drive it daily but in 5yrs that 40k he "lost" could be 100x so and that car will be useless :D second bottle of wine did set my tongue free and i wrote way to much when i wanted just to ask about saitamsk :D sorry for mistakes and this mess i wrote :D hold for better future think 5-10 years into future and all be good!

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Initial Coin Offerings on ErgoDex

Who’s interested in this? Sounds pretty fantastic to get in early on coins with initial coin offerings.

From Ergo Foundation:

As we approach the ErgoDEX launch, it is important to highlight the capabilities of UTXO based DeFi (Decentralized Finance) smart contracts. More recent Layer 1 projects tend to be built on the Accounts model of Ethereum while Ergo is one of the few blockchains working to improve DeFi on the UTXO model that Bitcoin introduced. UTXO offers greater functionality and scalability for DeFi contracts through its lighter design when compared to the Accounts model.

Disclaimer: Decentralized Finance platforms are still in the experimental phase, therefore it is important to VERIFY and RESEARCH before TRUSTING the properties of a smart contract. When investing in new projects on decentralized exchanges, users should verify that the smart contract is designed in the way the ISSUER claims.

Initial Coin Offering on ErgoDEX

An Initial Coin Offering (ICO) is somewhat similar to an Initial Public Offering for traditional financial instruments such as stocks. It is basically a crowdfunding phase for independent developers who want to build their particular DeFi project.

A decentralized exchange creates an equal playing field for both developers and investors. It removes certain entry barriers and allows each participant to participate in the crypto ecosystem. With ErgoDEX, users can initialize coin offerings without the need for a centralized structure (eg. Binance’s Initial Exchange Offering) with the potential to reach a larger user base.

Similarly, investors can participate in an ICO (or in the case of a decentralized platform, Initial DEX Offering - IDO) with amounts as little as five dollars without the need for KYC compliance. During the ICO process, users enjoy full control of their funds while interacting with the ErgoDEX. The user’s private wallet (like a Yoroi wallet) interacts with ErgoDEX and holds the assets until transactions are verified and completed.

The ErgoDEX is a decentralized finance platform where all users can participate in the ecosystem confidentially and securely.

Investor Safety

An ICO contract consists of 3 parts: the issuer, the buyer and the liquidity pool. Smart contracts can verify:

If the issuer created the token, If the buyer has the ERGs to invest, If the liquidity pool contains enough liquidity for the desired exchange pair. After that, the issuance stage takes 3 phases

Funding: Buyers send ERGs to liquidity pools in a predefined time. Control: The funding epoch closes and the issued tokens become unlocked Withdrawal: In this phase investors can claim the tokens. Because everything is on-chain, there can not be a point of failure in the process. If a user examines the offering’s smart contract, they can verify whether each step will be executed as proposed. Questions dealing with how to participate, how to receive tokens and when tokens will be received can be verified through an analysis of a particular ICO contract.

Your Keys, Your Funds

It should be kept in mind that although ErgoDEX is designed as a fail-proof exchange application, it does not mean that every project listed on ErgoDEX will be fail-proof. Users will need to verify the issuance contract in order to secure their funds because decentralized Exchanges can allow anyone to create an ICO contract. Therefore it is wise to use common sense to be aware when investing in new ICO’s and the contracts that govern those tokens. After all, it is a contract and it is always prudent to review a contract before agreeing to any terms.

In addition to the aforementioned DEX properties, ErgoDEX can provide “time released orders” where investors funds are released gradually while funding a project. There is also the option to provide a “buy-back order” which creates the ability to refund investors. These features offer a layer of security and oversight by potentially prohibiting developers from receiving the investments in the event they do deliver on the promised project. If the project is not proceeding as advertised, investors can withdraw their remaining funds and exit with minimal loss.

With Ergo, we are trying to create an equal playing field for all users while building safeguards to prevent malicious actors.

ErgoDEX is coming soon!

It is already designed so that users will be able to provide liquidity pairs for tokens such as SigRSV / SigUSD / ERG / ADA while earning commission fees. For more information on the features of ErgoDEX

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Expect Final Product To Be a Standalone Platform Where Money is Credited Directly to Viewer After Every Video Watched.

GOLT Token
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