November 4, 2021

The Calm Before the Storm?

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

Abang jual NFT dik @SaudagarKripto

Funding rates a bit too high we gon see a lil pull back

• 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.

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

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

Galaxy @galaxyBTC

The upcoming $ETH pump will leave the world speechless.

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.

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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.

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.

• Remember: With all the excitement surrounding crypto gaming and the Metaverse, it’s important to not get carried away by FOMO!

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

• It’s crucial to always do your due diligence and research a project before blindly “aping in”.

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.

• Meanwhile, we see more pain in the NFT markets… An opportunity to buy or the start of a more prolonged “NFT bear market”?

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