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October 29, 2021

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EllioTrades Daily Roundups

October 29, 2021

Will Ethereum Lead the Greatest Altcoin Rally of All Time?

Oliver Grah
Oct 29, 2021
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October 29, 2021

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Introduction

Now that Ethereum is on the cusp of breaking into price discovery mode, all eyes are on the smart contract king. Will it mark the kick-off to a glorious altcoin season or will the struggling stock markets hold back Ethereum for now? Soon we will find out.

Twitter avatar for @rektcapital
Rekt Capital @rektcapital
Altcoin Market Cap is attempting a breakout past its final resistance level before Price Discovery #BTC #Crypto #Ethereum
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11:09 PM ∙ Oct 28, 2021
964Likes160Retweets

Ethereum Challenging Its All-Time High for the Second Time

  • One thing we have seen time and time again is that after a massive move by Ethereum, altcoins started rallying like crazy. In some cases, ETH even pulled BTC behind. Will today be the historic day to kick off Ethereum’s rally to new all-time highs?

Twitter avatar for @rektcapital
Rekt Capital @rektcapital
$ETH turned ~$4000 into support and levitated towards ~$4400 Now challenging for a break to new All Time Highs #Crypto #Ethereum
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Twitter avatar for @rektcapital
Rekt Capital @rektcapital
Turn ~$4000 into support and $ETH will levitate towards ~$4400 for a break to new All Time Highs #Crypto #Ethereum https://t.co/4V6xOBqDeu
8:59 AM ∙ Oct 29, 2021
176Likes15Retweets
  • Meanwhile, more ETH is burnt than ever.

Twitter avatar for @ultrasoundmoney
ultra sound money 🦇🔊 @ultrasoundmoney
🔥 24h burn record 🔥 💨 16.8K ETH vaporized 💨 🦇 ultra Mach 13 🦇
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3:22 PM ∙ Oct 28, 2021
200Likes41Retweets
  • Stock markets seem to be the only thing holding back Ethereum today…

Source: CNBC

The Metaverse Party Is on 🔥

  • Facebook’s huge announcement yesterday to rebrand its social media empire to “Meta” seems to have a significant impact on the crypto markets, igniting the Metaverse narrative in a major way. Metaverse-related tokens are pushing into double-digit gain territory across the board with CoinGecko’s Metaverse category up a whopping 262.2%.

  • Is today’s impressive price-performance just a blip on the radar? Probably not, since Facebook will bring the Metaverse narrative – which has already gained traction within the crypto community – to a much larger audience. Just look at the Google search trend for “Metaverse” below 🚀.

Source: Google Trends
Twitter avatar for @iamDCinvestor
DCinvΞstor @iamDCinvestor
if you're iffy on this "metaverse" thing, thinking it's a bunch of frivolity, the stakes are WAY bigger than you can imagine: it's about the future of digital interaction and digital commerce, in a world going massively digital and it'll be how many people work within 20 years
11:49 AM ∙ Oct 29, 2021
120Likes17Retweets
  • While we don’t know which of today’s Metaverse projects will achieve their goals, we know for sure that the ones who will be successful in the end will experience unimaginable growth. The challenge now is to bet on the right horses…

  • Of course, Ethereum also benefitted from today’s Metaverse pump, since it provides the base layer for most of today’s Metaverse projects.

Twitter avatar for @eliasimos
Ξlias Simos @eliasimos
ETH hitting new all time highs on the day Meta is announced is pretty telling as to who the market thinks will win the metaverse atm.
8:31 AM ∙ Oct 29, 2021
26Likes2Retweets
  • Would it be shocking to see PFP (profile picture) projects run next after today’s impressive performance of “fungible” Metaverse tokens? Not really, since avatars will arguably play a big role in most Metaverse projects. The challenge will be picking the right ones with a strong community behind them.

  • With NFT floor prices getting crushed at the moment, it might soon be a good time to look out for some bargain deals, since it’s more than likely that NFT mania will return at some point.

Twitter avatar for @Zeneca_33
Zeneca_33 🍌 @Zeneca_33
Daily Floor Stats Update. Facebook rebrands to Meta, ETH hits an all time high, SHIB is still being silly, gas is consistently absurdly high. Yea, a red day sounds about right. There are a *lot* of things working against the NFT market right now, all those just mentioned and then
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5:48 AM ∙ Oct 29, 2021
388Likes69Retweets
  • In other exciting Metaverse-related news, we see Immutable, the leading scaling solution for blockchain gaming and NFTs, partner with one of the most influential gaming companies in the world, ESL Gaming.

Twitter avatar for @Immutable
Immutable | HIRING! 👇 @Immutable
The world’s leading esports company @ESL Gaming is partnering with @Immutable X to build #ESLProTour CS:GO NFTs on Ethereum We will help esports fans worldwide to access gas-free minting & carbon neutral of Ethereum NFTs Powered by @StarkWareLtd LET'S GO!
2:01 PM ∙ Oct 28, 2021
1,120Likes348Retweets
  • A Metaverse project that has been silently building and making strides in the last few months is RedFOX Labs. Its RFOX token recently “woke up” from months of consolidation and has experienced a modest 50% price increase today – which puts it still 78 % away from its old all-time high. Expect fireworks before their Metaverse Beta launch in December…

Twitter avatar for @RFOXMedia
RFOX MEDIA @RFOXMedia
🏆 Achievement Unlocked 🏆 #RFOXRun 🦊 has just reached 1 million gameplays in 1 week, and this wouldn’t have been possible without your support. Thank you, #Myanmar!🎉 #TGIF and don’t forget to follow @RFOXMedia to stay up to date with our latest news and announcements! $RFOX
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10:01 AM ∙ Oct 29, 2021
55Likes13Retweets
  • Even former Goldman Sachs exec and crypto bull Raoul Pal has an eye on RFOX…

Twitter avatar for @RaoulGMI
Raoul Pal @RaoulGMI
@ksell14 @rfox yes.
1:14 AM ∙ Oct 29, 2021
331Likes73Retweets
  • If you ask yourself how to bet on the hot Metaverse trend, there are several answers: You can either speculate on Metaverse tokens such as MANA or SAND, you can buy in-game items, art NFTs or Metaverse land, or you can go a step further and participate actively in NFTs and Metaverse projects (arguably the safest and most rewarding option).

Twitter avatar for @santiagoroel
Santiago R Santos | #9159 🦇🔊⚡️ @santiagoroel
The metaverse will be crazier than most think. It’s creating new economies & jobs. IRL & digital worlds will blur as we oscillate between the 2 worlds: > gaming > real estate - land purchases, leasing & construction > commerce - in-game & digital versions of IRL items > DeFi
12:52 PM ∙ Sep 5, 2021
704Likes164Retweets
Twitter avatar for @santiagoroel
Santiago R Santos | #9159 🦇🔊⚡️ @santiagoroel
> marketing - IRL brands will shift a big portion of ad spend to metaverse > entertainment/media - concerts, sport events, conferences It’s early. Design space is vast. Endless possibilities & lynchpin here is crypto: open source + digital scarcity + composability & portability
12:52 PM ∙ Sep 5, 2021
136Likes16Retweets
  • Here is an interesting thread on how to benefit from the NFT art side of things:

Twitter avatar for @mintfaced
mintface.eth @mintfaced
The Metaverse game is on. A thread. 🧵
5:40 AM ∙ Oct 29, 2021
408Likes102Retweets
Twitter avatar for @mintfaced
mintface.eth @mintfaced
You can play or not play. 1/15
5:40 AM ∙ Oct 29, 2021
48Likes1Retweet
Twitter avatar for @mintfaced
mintface.eth @mintfaced
If you play…. …you create more cool stuff right where you are. 2/15
5:40 AM ∙ Oct 29, 2021
56Likes2Retweets
Twitter avatar for @mintfaced
mintface.eth @mintfaced
If you’re already minting your art… …fantastic. Keep going. 7/15
5:40 AM ∙ Oct 29, 2021
Twitter avatar for @mintfaced
mintface.eth @mintfaced
If you have iconic work from previous years… …mint it. Now. 8/15
5:40 AM ∙ Oct 29, 2021
83Likes4Retweets
Twitter avatar for @mintfaced
mintface.eth @mintfaced
If you have artist friends… …teach them how to mint. Today. 9/15
5:40 AM ∙ Oct 29, 2021
83Likes3Retweets
Twitter avatar for @mintfaced
mintface.eth @mintfaced
Collectors. Hold on to your best art. Keep them in the open Metaverse. 11/15
5:40 AM ∙ Oct 29, 2021
52Likes1Retweet
Twitter avatar for @mintfaced
mintface.eth @mintfaced
New collectors. Look at early 2021 minted art and pick a few up for the open Metaverse. 12/15
5:40 AM ∙ Oct 29, 2021

Don't Get Carried Away by FOMO

  • While the outlook for crypto in general and Metaverse projects in particular gets brighter by the day, it’s important to remember that all that glitters is not gold in NFT land! There are still ways to lose a ton of money in NFT and crypto land if you don’t know what you are doing.

Twitter avatar for @AutomataEmily
Emily (Former TradFi CFA, CAIA, CA, MBA) APE 🦇🔊 @AutomataEmily
I keep seeing these 😨 Those mekas really burned a ton of people
Twitter avatar for @nftsalesbot
Flip McBot @nftsalesbot
sky888 FUMBLED MEKA #2015 🏆 Status: Noodle Hands 🛍 Bought: 5.85 ETH @ $3,576 💰 Sold: 1.19 ETH @ $4,288 🤝 HODL: 21 days Ξ LOSS: 4.66 ETH 💲 LOSS: -$15,817 (📉 -76%) https://t.co/DxH1LIHeYA
10:23 AM ∙ Oct 29, 2021
33Likes4Retweets
  • Also, treat token launches, especially new meme coins (if you want to touch dog coins at all), with extreme caution to avoid getting “rugged” like the supporters of AnubisDAO who collectively lost $60 million to a rogue dev or phishing attack.

Twitter avatar for @Dogetoshi
Steven @Dogetoshi
Looks like AnubisDAO rugged for $60M etherscan.io/tx/0x551890a87…
12:14 PM ∙ Oct 29, 2021
157Likes31Retweets

This thing had no website, a sketchy initial launch, no evidence it was ever going to be something and degens gave them $60m for free. kek

  • Regarding scams, which are unfortunately getting more sophisticated by the day in crypto land, here are some tips:

Twitter avatar for @safetyth1rd
𝕯𝖆𝖓𝖌𝖊𝖗 @safetyth1rd
if you're in crypto you need to develop spidey senses for all -dms -emails -messages from anyone 'you know" double check the address and dont click weird links.
1:28 PM ∙ Oct 29, 2021
25Likes1Retweet
Twitter avatar for @safetyth1rd
𝕯𝖆𝖓𝖌𝖊𝖗 @safetyth1rd
default to "scam until proven otherwise"
1:29 PM ∙ Oct 29, 2021

No Inflation Isn’t Going Away Anytime Soon

  • What had to be expected after national banks printed and governments spent unprecedented amounts of money last year, is now materializing in an unpleasant way: Inflation, the “hidden tax” for society at large, remains higher and “stickier” than any national bank would have anticipated, creating an increasingly insurmountable burden for the working class.

Twitter avatar for @elerianm
Mohamed A. El-Erian @elerianm
Once again, an #inflation surprise: #Eurozone inflation for October came in at 4.1% compared to the 3.7% consensus expectation. Illustrates the general theme of a consistently higher and more persistent inflation than expected by most, including policymakers. #economy #europe
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9:27 AM ∙ Oct 29, 2021
16Likes5Retweets
Twitter avatar for @JackFarley96
Jack Farley @JackFarley96
The most important inflation chart: durable goods CPI. Those washing machines and refrigerators really broke out of a trendline... This great chart by @WarrenPies has a "twin" which we'll be talking about tomorrow on @Blockworks_
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10:24 PM ∙ Oct 28, 2021
46Likes10Retweets
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October 29, 2021

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