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November 4, 2021

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EllioTrades Daily Roundups

November 4, 2021

The Calm Before the Storm?

Oliver Grah
Nov 4, 2021
10
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November 4, 2021

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Introduction

While the markets have been holding steady today, emotions are all over the place in the crypto community. While some are spotting “distribution” and are calling the top, others prepare confidently for an altcoin season of epic proportions. Who will be right?

Market Watch

  • While we have seen the Fear & Greed Index come down a bit from “extreme greed” yesterday, there are still reasons for caution in the short term. Mainly, increasing funding rates for many altcoins as well as the massive, continuous pumps of many coins in the last few weeks lead to believe that some sort of correction could be appearing on the horizon.

Source: Alternative.me
Twitter avatar for @SaudagarKripto
Abang jual NFT dik @SaudagarKripto
Funding rates a bit too high we gon see a lil pull back
7:04 AM ∙ Nov 4, 2021
  • As stated yesterday, these short-term warning signs shouldn’t distract you from your fundamental investment thesis. They are a good reminder though to assess your current risk profile and decide which projects you are willing to hold through the inevitable double-digit percent dips that will come.

  • The macro uptrend is still looking strong and with Bitcoin’s and Ethereum’s funding rates being somewhat subdued compared to many of the “hot” altcoins, the risk-to-reward seems to be skewed towards BTC and ETH right now.

Twitter avatar for @AI_CryptoTrader
AI-CryptoTrader007 @AI_CryptoTrader
#Bitcoin funding rates compared to April $BTC $ETH #altcoin #NFTNYC #NFTCommunity #NFTGiveaway #Avalanche #XRPArmy #satoshi #HODL #CryptoNews #cryptocurrency #Bitcoin #Polkastarter #Polkadot #Polkadex #nftcollector #NFTcollectibles #NFTartists
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8:25 AM ∙ Nov 4, 2021
4Likes1Retweet
Twitter avatar for @Daily__Dopamine
Daily Dopamine @Daily__Dopamine
ETH Macro Outlook: Two Metrics not yet indicative of price. #1. Supply at all time lows #2. Active Addresses INC has been on a very noticeably incline but... Large % addresses showing a bit of profit taking (very normal) #4. 365D MVRV explains this potential realized profit
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1:54 PM ∙ Nov 4, 2021
Twitter avatar for @galaxyBTC
Galaxy @galaxyBTC
The upcoming $ETH pump will leave the world speechless.
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11:31 AM ∙ Nov 3, 2021
3,228Likes378Retweets

Mainstream Gaming Is Catching on to Crypto…

  • It’s no surprise that Axie Infinity impressively demonstrating the potential of blockchain gaming and Facebook going all-in on the metaverse has drawn the attention of mainstream gaming companies. More and more are now coming out of the woodworks to announce their crypto endeavors.

Twitter avatar for @Immutable
Immutable | HIRING! 👇 @Immutable
We’re bringing the global leader in instant gaming Playco to Ethereum 🎉 500 million players will access gas-free + carbon-neutral NFTs on their favourite games across FB, TikTok, Snapchat & more All powered by @Immutable X + @StarkWareLtd Learn more at bit.ly/3q1252r
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4:17 PM ∙ Nov 3, 2021
489Likes100Retweets
Source: Cointelegraph

Widely known as a business-oriented company that utilizes the pay-to-win model in several games, EA has not yet tried its hand at the play-to-earn games. However, EA hinted that it had set its sights on blockchain and NFTs, as a job posting from summer revealed. Wilson believes that collectible digital content will play a meaningful role in the company’s future.

  • The opportunities to invest in blockchain gaming projects will be vast in the next months and years – if you have an intelligent approach.

Twitter avatar for @ZssBecker
Alex Becker 🍊🏆🥇 @ZssBecker
Most of the coins that will be in the top 10 of gaming crypto are still tiny OR haven't even launched a token yet. You have time/a chance here to become one of those "I invested in bitcoin at $200" assholes (that everyone secretly wants to be). 500x gains. Focus.
11:31 AM ∙ Nov 4, 2021
4,819Likes490Retweets
  • Remember: With all the excitement surrounding crypto gaming and the Metaverse, it’s important to not get carried away by FOMO!

Twitter avatar for @JRNYcrypto
JRNY Crypto @JRNYcrypto
Crypto gaming projects are going to have a big correction when the hype moves to the next thing and everyone realizes many of these games have years to go before they are ready for mass adoption. Especially the newer small caps that people are buying just because metaverse FOMO
4:43 PM ∙ Nov 3, 2021
3,633Likes465Retweets
  • It’s crucial to always do your due diligence and research a project before blindly “aping in”.

Twitter avatar for @pet3rpan_
pet3rpan @pet3rpan_
wtf is going on here with @genopets the future of the metaverse is going to be 32.5% owned by investors? and only 33% to community? super cool project but I'm sorry you got screwed by your investors.
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10:43 AM ∙ Nov 4, 2021
42Likes3Retweets
  • Meanwhile, we see more pain in the NFT markets… An opportunity to buy or the start of a more prolonged “NFT bear market”?

Twitter avatar for @Zeneca_33
Zeneca_33 🍌 @Zeneca_33
Daily Floor Stats Update. It's not..quite as bad as yesterday? He says, clutching at straws. It's clearly a bad day again, which is unsurprising as nothing has fundamentally changed from yesterday or the day before or the day before that. Gas is still high, ETH is still chilling
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3:24 AM ∙ Nov 4, 2021
254Likes24Retweets
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November 4, 2021

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