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December 1, 2021
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EllioTrades Daily Roundups

December 1, 2021

Maximalism Will Not Prevail

Oliver Grah
Dec 1, 2021
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December 1, 2021
www.elliotrades.xyz

Introduction

While Ethereum is on the cusp of breaking to new highs and MATIC starts benefitting from the hot L2 narrative, Bitcoin is still in “meat grinder mode.” Will Ethereum keep its momentum going and pull the altcoin market with it? Or will Bitcoin return to the spotlight again, now that everyone has shifted their attention to Ethereum?

Twitter avatar for @LilMoonLambo
LilMoonLambo 🚀 @LilMoonLambo
$ETH just made its highest monthly close ever
Image
12:11 AM ∙ Dec 1, 2021
1,481Likes138Retweets
Twitter avatar for @blknoiz06
Ansem🃏💎 @blknoiz06
what is this meat grinder price action
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12:03 PM ∙ Dec 1, 2021
Twitter avatar for @SwagtimusP
SwagtimusPrime.eth 🦇🔊🐼 @SwagtimusP
ETH currently 4.2% from ATH BTC currently 18.2% from ATH
5:01 PM ∙ Nov 30, 2021
167Likes6Retweets

Market Outlook

  • When it comes to “legacy markets,” we got the green light today, meaning that stock markets are bouncing after the severe sell-offs of the last few days.

  • In the bigger scheme of things, however, the insane volatility we are witnessing across markets at the moment is a clear signal of increased frothiness and “bubble behavior.” Does that mean that everything will come crashing down soon? Not necessarily, since there are simply no better alternatives than investing right now to protect oneself from inflation, and central banks try all they can to prevent assets from imploding. However, be prepared for even wilder volatility in the coming months and that at some point, the music could stop – at least temporarily.

Twitter avatar for @PrestonPysh
Preston Pysh @PrestonPysh
When this thing throws its next fit, people aren't going to believe the speed of the move....AND the subsequent Central Banker debasement response that follows it.
Twitter avatar for @TimmerFidelity
Jurrien Timmer @TimmerFidelity
Getting late? The stock market is progressing further into mid-cycle, with some hints of late-cycle. Earnings growth is clearly peaking here, albeit at very high levels (44%), amid ongoing multiple-compression. https://t.co/dGQbV09ZwE
9:40 PM ∙ Nov 30, 2021
448Likes42Retweets
Twitter avatar for @SantiagoAuFund
Santiago Capital @SantiagoAuFund
It's a good thing Turkey is not located in a strategically important geographic location. Otherwise the instability associated with a collapsing currency would be a real mess...
10:32 PM ∙ Nov 30, 2021
780Likes54Retweets

Bitcoin Maximalists Showing Their Ugly Side

  • Most of you have probably heard of Ross Ulbricht, the infamous founder of darknet marketplace Silk Road, which got taken down by American authorities in 2013. For his crimes, Ulbricht now serves a double life sentence plus forty years without the possibility of parole – really an astonishing punishment for a young tech nerd who made some missteps...

  • Today, Ross Ulbricht announced auctioning off an NFT to help children who are unable to visit their parents in prison. The shocking part of the story is how several proponents of the Bitcoin movement have reacted – truly shameful for a community that is supposed to promote freedom and inclusion.

  • At this point, it really feels like Bitcoin has become more an implacable religion than anything else. Fortunately, there are also numerous voices that stand up against toxic maximalism.

Twitter avatar for @RealRossU
Ross Ulbricht @RealRossU
My NFT auction will start in 2 days! 😃 rossulbricht.medium.com/my-nft-f2b4a9f…
rossulbricht.medium.comMy NFTWith this NFT, I see a chance to make a difference. My own future may look bleak, but I can still do a little something to heal the damage I see all around me.
9:01 PM ∙ Nov 30, 2021
3,110Likes536Retweets
Twitter avatar for @CitizenBitcoin
Brady Swenson @CitizenBitcoin
Bitcoiners giving Ross shit about his NFT have lost the plot. The man is serving two unjust life sentences without parole and you’re trolling HFSP and NGMI in his replies while enjoying your freedom. Please call out scams but read the room and give the man a pass.
11:15 PM ∙ Nov 30, 2021
1,420Likes91Retweets
Twitter avatar for @CryptoCanti
Canti @CryptoCanti
There is nothing in this world that could display the sad, directionless nature of today's Bitcoin maximalist culture in a more poignant or succinct manner than those people openly—proudly—turning on Ross Ulbricht over an NFT.
10:27 PM ∙ Nov 30, 2021
116Likes18Retweets
Twitter avatar for @IamNomad
IamNomad @IamNomad
as a bitcoiner, im embarrassed to be associated with some of these so-called bitcoiners.. today's display is an example of that.
11:17 PM ∙ Nov 30, 2021
389Likes12Retweets
Twitter avatar for @CryptoCobain
cobie @CryptoCobain
There are bitcoin maxis trying to cancel @RealRossU for selling NFTs to raise money to charity for people incarcerated. One tweet say “way to lose your fanbase”. This man is in jail for life and did more for bitcoin than all of the laser eye cult combined. Bidding Ross NFTs.
10:19 PM ∙ Nov 30, 2021
5,347Likes534Retweets
Twitter avatar for @InnominateHODL
Innominate @InnominateHODL
@RealRossU Ross is the reason I learnt what bitcoin is. I thank him for that. I have no problem supporting his NFT's for such a great cause.
10:52 PM ∙ Nov 30, 2021
Twitter avatar for @screentimes
ciniz.ᵍᵐ 👁 @screentimes
satoshi could come back right now and say he genuinely likes the nfts and bitcoin maxis would try to cancel him
10:46 PM ∙ Nov 30, 2021
472Likes34Retweets
  • Meanwhile, the world doesn’t care about Bitcoin maximalists’ opinions and continues to focus its attention on NFTs and the metaverse…

Twitter avatar for @coin_artist
COIN ARTIST @coin_artist
Speaking at the first-ever JPMorgan crypto conference! Our NFT & #Metaverse Panel with Opensea, Dapper, Blockade Games, & Galaxy Interactive 🥳
Image
5:40 PM ∙ Nov 30, 2021
409Likes45Retweets
Twitter avatar for @ASvanevik
Alex Svanevik @ASvanevik
P2E > GTA
Image
1:06 PM ∙ Dec 1, 2021
70Likes8Retweets

Set Protocol – A DApp Worth Trying Out

  • A big trend this year has been DeFi protocols rewarding early adopters with retrospective airdrops. Starting with the infamous Uniswap airdrop more than a year ago, we have seen dozens of airdrops in the last months.

  • A project worth checking out – since it doesn’t have a token (yet) – is Set Protocol. The protocol has created tools for everyone to create baskets of tokens (aka, indices), a use case that will only grow in importance. With Set Protocol expanding to L2s, its tools will get accessible to many new users and lay the foundation for continued protocol adoption.

  • It might well be well worth playing around with some Tokens Sets now – who knows if a token will be airdropped sometime in the not so distant future…

Twitter avatar for @andrew_eth
Andrew 🦇🔊 @andrew_eth
$0.5B TVL on @SetProtocol, primarily on L1 with no native token or incentive program. Imagine when we complete the infinity gauntlet by unlocking the likes of @arbitrum @optimismPBC @avalancheavax alongside @0xPolygon. 2022 structured products narrative is coming, ready anon?
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1:25 PM ∙ Dec 1, 2021
22Likes1Retweet
  • Projects like Set Protocol play a central role in bringing DeFi and Web 3 to millions of new users by creating products and tools with real utility.

Twitter avatar for @ricburton
ric.eth 🦇🔊⚖️ @ricburton
Crypto speculators: ~300-400m Web3 users: ~3m-4m We have work to do
5:44 PM ∙ Nov 30, 2021
389Likes31Retweets
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December 1, 2021
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