An action-packed week on Crypto Twitter, as the SEC sues Do Kwon, and crypto bull market narratives abound.
Gm,
Darn, it’s been a busy week! Who could have known bear markets could be this action-packed? VPNs were used, complaints were filed, and a new Twitter CEO was appointed.
The entire Valentine’s Day week, including a very special message at the end, is covered here.
Whose Threads Are a Must-Read?
We are so f***ing back in the bulla market. At least in a short, temporary one. So as a busy crypto degen, you just don’t have enough hours to cover all the gains. Good thing rektdiomedes covered 10 life hacks for busy crypto degens:
- Have A Daily Research Schedule
- Be Protective Of Your Mental Bandwidth
- Batch Your Work
- Build Exercise Into Your Daily Routine
- Track Your Positions In Excel
- Eat The Same Food Every Day If Needed
- Be Purposeful About Where You Invest Your Energy
- Establish Clear Boundaries
- Know The Game You're Playing
- Enjoy The Vibes
- Don't Give Up!
Ok that’s technically 11 but we’re just quoting here. Check out the full thread with links to other threads here:
Since crypto is so effin’ back, now is the time to catch up on narratives. So we have not one but two threads about hot crypto narratives. Jack Niewold reviewed some that already pumped and some that are still to come, such as:
- Arbitrum Eco
- Zk Rollups
- Staking Derivatives
- GameFi/Gambling
- BTC comeback
His entire thread is here:
But if that’s not enough for you, Crypto Koryo did an epic top 20 crypto narratives thread. We won’t give away all the juice, but here’s the first ten:
- Real yield
- Real-world-assets
- NFTFi
- Liquid staking derivatives
- ZK-EVM
- Prediction markets and gambling
- Soulbound tokens
- On-chain trading
- Modular blockchains
- AI
The other ten plus the top tokens for each narrative are here:
Once you know what narrative is hot (like Blockchain and AI), it’s all about finding the gems. But how do you know which coin is a good coin?
There’s a guy for everything on Crypto Twitter. Or rather, a thread for everything. Such as this one by The DeFi Edge about how to evaluate crypto protocols in 2023. He covers:
- Product
- People
- Financials
- Tokenomics
- Risk Management
- Catalysts
- Pumpnomics
- Profit Strategies
35 concise tweets in ten minutes. Worth a read here:
The final thread for this week is a banger. No seriously, it’s that good. How else do you think a thread about taxis got 1.7M views?
Punk6529 wrote a brilliant thread about the dangers of centralization and how taxis are the perfect example thereof. Global taxi-hailing is super centralized now thanks to Uber. And taxi-hailing is the perfect metaphor for much more centralization that’s happening.
If you read only one thread from out round-up this week, this is the one you must not miss:
Wisdom of the Week
Here’s a message for those that are wondering whether the bottom is in or not: no one knows!
Ok, but for real. It looks increasingly like a bottom might be in. Don’t take our word for it. Here’s OG trader GCR telling you what’s happening:
The translation to ape terms: those who could not afford to hold sold already. Those who bought can afford to ride out a crab market.
Here’s one more nugget of wisdom if you are on the fence about whether now is a good time to buy:
In short, do what feels uncomfortable.
(By the way, watch out for our big macro breakdown coming out next week!)
Elon Building Twitter
It’s never really boring with Elon building Twitter but this week was especially interesting. First, Elon finally appointed a new Twitter CEO. Both seem very happy with the way things worked out:
Then people started getting irritated about seeing too much of Elon in their feeds. Was Twitter’s old CEO boosting his own posts to get more engagement?
Blasphemy! Of course not, as he told us:
And finally, there was a little spat with the former Head of Ads of Twitter. We all know how poor Twitter ads are, so whether that was the right spot to try to dunk on Elon…not sure.
Talk of the Town
Lots of talk in crypto town last week. As you may have noticed, last weekend was Super Bowl weekend. And even the big boys in crypto enjoy a good game of football. And by big boys, we mean alleged criminals. They won’t stop at anything to see the game, not even at installing a VPN:
Yup, it never gets boring with SBF. Even when he’s not the main character, he stays in the picture.
In a weird way, Gary Gensler actually seems hellbent on becoming the new main character. After going for stablecoins, the SEC is now suing Do Kwon for his Kwonzi scheme. Uh, better late than never? Not really, if you ask Scott Melker:
Crypto policy is a mess at the moment. Our Ultimate Guide on Crypto Policy may have to be changed soon because things are moving so fast. Jake Chervinsky wrote in his thread about how crypto is not down and out though. Even with the SEC going hard after crypto at the moment, the industry still has many allies and can fight back in Congress.
But the rumor mill is spinning hard at the moment. CZ had to deny a rumor that Binance would delist US-based cryptocurrencies.
One of crypto’s best allies at the moment is unironically China. The meme about the Chinese pumping the price could soon become reality:
Coinbase CEO, Brian Armstrong, is seeing the writing on the wall. The US is playing a dangerous game by allowing others to take the lead:
In such an environment, every bit of liquidity counts, so we should be happy Asia is saving the day.
The final big topic last week was the BLUR airdrop. Hopefully, you don’t like your food too salty:
Jokes aside, congrats to those that cashed in on the airdrop. Blur is poised to rattle the cage among NFT marketplaces. It has already forced edits in our recently published Ultimate Guide to NFT Marketplaces because OpenSea backtracked on its promise to enforce creator royalties:
The feedback from the NFT community was damning. OpenSea looks like a deer caught in the headlights with no good plan to escape:
Could this prompt the rise of collection-specific vertical marketplaces like our guide predicted? It sure looks like turbulent times ahead in the NFT space…
Our Favorite Coinfession
Some people still genuinely believe Pulsechain is a real blockchain. Beware the siren songs of vaporware. You don’t want to be this guy:
Memes
The SEC is doing a great job of protecting us. Feeling so safe over here:
Oh, and last week was Valentine’s Day. Even the ECB celebrated. In their, ahem, “own way:”
Well, they tried. Till next week.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
