ALTS WE LIKE

• Blue Chip: YFI  – Yearn.Finance, lending, insurance, and yield farming. Trading at approximately $44,000/token this blue chip defi token is backed by a number of heavy hitters. It’s been around for quite some time, has a wide range of options for yield farming, and will likely continue to dominate. Find out more in the private group.
• Growth: MATIC – Polygon, MATIC coin is an interesting one. If you’ve ever tried to send ETH during “busy” network times, you’ve probably noticed the outrageous gas fees that accompany your transaction. We’re talking costs of $500 to send $500 in extreme cases, at peak network times. Now the Ethereum network is looking to resolve this with their new POS methods, but so too, is Polygon. They’ve experienced a meteoric rise recently and have cooled off since, but this could be a great long term play. It’s on our radar.

RIPPLE’S GAMBIT, NFTs CRESCENDO, AND DeFi YIELD FARMING

• Alts: (XRP) RIPPLES GAMBIT – This is a huge question mark in my books. The pump over the past month has been, well, fantastic. A +96% gain (moving from $0.44 to as high as $1.09). However I’d be very cautious about this one. Why?
  
  1. The tokenomics are not super clear.
  2. The SEC is suing them (although Ripple Labs has won a bit of ground as of yesterday)
  3. Exchanges have openly said they plan to de-list them
  4. About 50% of the XRP token is controlled by less than 30 people.
  5. The co-founders have sold literally billions worth of XRP over the past 6-months (making the founders richer than the Google founders <– like really?)
• You start to get a picture that isn’t very rosy. Huge potential upside if they win against the SEC, more so because of the hype and narrative that surrounds this coin. Naturally XRP will pop. But if they lose, expect a fast decline.

  What we’re excited about: Honestly, not much here. There are so many great projects out there that don’t carry this risk factor. UPDATE: Ripple has WON their suit against the SEC and has, as I mentioned it would, rocketed to the top of the charts again. Pushing to +$1.50 in a short amount of time.
  
  But, XRP is known, so the hype cycle could make this volatile rollercoaster ride worth it for those who want on… if you keep an ultra-close watch on news, on-chain metrics, and whale movements. Then you may have success in timing a quick exit should XRP pump and fall.

  What we’re doing: Sitting on the sidelines for now. This requires a lot more research, and in my books, is much more of a gamble than anything else. You’re betting that they win against the SEC. That’s not a bet I’m willing to take at this point for the upside I think they’ll gain from it (1-8x). In my opinion, there are other projects yield better upside with the same amount of downside risk ($0).

• DeFi: YIELD FARMING – This is one of the underlying foundational stones of DeFi (Decentralized Finance). Yield farming. Or, said another way, “how do you make your crypto work for you, generate interest or more crypto, in a relatively low risk way?” This is what yield farming is all about. Broken down into two concepts – 1 yield or return, and 2 farming (or moving your crypto around to find the highest yield).We’ve seen a massive rise in the amount of crypto that is locked up in yield farming over the past year. Take a look at the blue chips in the space, such as COMP (Compound) or YFI (Yearn Finance). Remember you don’t have to buy a full token (YFI is $44,000 approximately), but you can get in the game with a fractional purchase.

  What we’re excited about:Buying the dip on yield farming defi tokens. This is likely one of the leading examples of the “future of finance.” Pay attention to the blue chips in the market: COMP, YFI, AAVE etc. These coins have shot up in value quickly, so a correction is happening, but they’re backed by very heavy hitters in the VC space, seem to have solid teams, and have a lot of good momentum behind them.

  What we’re doing:Long term spot hodl. Said another way: look for the dips and buy the coins without leverage for projects you like. Hold them for a mid to long term play (6mo-3 years).

• NFTs: BIG MAC CRESCENDO – Feels like we’re hitting a crescendo. Mcdonalds just announced an NFT launch. When large corporates who are traditionally very slow moving enter a market, many of the opportunities have already left the building. Others have listed their NFTs for $78m. And we’re seeing tons of new artists, companies, and more dive in. Now is probably the time to take a look at the underlying fundamentals of the top developers pushing products in the space, and look at coins rather than the NFTs themselves.
  
  If you’re looking for tokens, keep an eye out for CHZ (Chiliz) as they’ve just partnered with a ton of premier football league teams in Europe for NFT partnerships. They’ve also done this for MMA type events and more. Here’s the thing about CHZ. They’ve had a meteoric rise $0.12 – $1.09 in about a week, and are now trading in the $0.45 range. Let’s see how long this holds. My guess is this is a longer term play.

  What we’re excited about: Dapper Labs. These are the guys behind Cryptokitties (#1 NFT over the past couple of years, now #2) and NBA Top Shots (current #1 NFT this year). When it comes to NFTs these guys know their shit. I’m excited about their next project and will aim to get in on the ground floor.

  What we’re doing: Watching Dapper Labs. Any new project they launch, I’d want to be in early buying the actual NFT in a speculative move. Also sitting on the sidelines in regards to CHZ as they’ve had such a meteoric rise in the past month, but paying attention to any massive dips in price for a long term hodl.