🧘♂️ALERT: 3 Cryptos For 2022
Market Meditations | December 27, 2021
BTC, AAVE and ???
A warm welcome to the 1,751 Meditators who joined our community last week and congratulations on the first step towards financial liberation through crypto.
A busy weekend with key updates.
? Latest on LUNA
⏰ Key Technicals for BTC, AAVE and UNI
? NFTs As Collateral
☄️ Our Crypto Calendar
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??? DeFi’ing Gravity
Terra’s $LUNA token has shown remarkable resilience in the face of some choppy price action over the month of December.
Binance announced last Thursday that it would be listing Terra’s USD stablecoin, $UST, on December 24th.
The total value locked (TVL) in Terra’s DeFi ecosystem broke above $21 billion, leaving only Ethereum ahead of it in terms of the most money locked up in decentralized finance platforms.
Over $9 billion is locked in Anchor protocol alone. Anchor focuses on yield farming using stablecoins native to the Terra network.
Among potential explanations for this bullish sentiment are the Columbus-5 upgrade, shifting the network to burning more LUNA, and increased activity in Terra’s decentralized finance platforms, like Anchor.
When things get sketchy, it can be a blessing in disguise. During market downturns, it can prove very beneficial to pay close attention to which projects and protocols show mettle in the face of plummeting prices.
Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool.
? BTC Back In Action?
Our neutral bullish area lines up with the 0.618 level and we know that if the price ever retraces below the 0.618 it shows a severe loss of strength.
This makes it even more important for our monthly or yearly close to be above the $50k level.
Two important levels at $200 and $300.
Currently testing the $300 resistance level.
A good close above $300 makes the path to $400 more likely.
Perhaps not looking quite as strong as AAVE.
Approaching resistance at $20 level and then again at $22.
Seeing a bit of a reversal.
$22 is the key level to claim here.
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⚙️ Kraken to Implement NFT Functionality
NFTs are the future. Despite the claim being repeated seemingly numerous times a day, the conversation always wraps back to why NFTs are useful. Time and time again, you have that one person asking what the functionality is.
Kraken has announced that NFTs will be used as collateral for loans, therefore answering the question regarding functionality.
Kraken is creating an NFT marketplace.
It will allow customers to use NFTs as collateral.
Kraken is designing a system that can calculate the liquidation value of NFTs so that users can borrow against them.
Talking about NFTs, Kraken founder, Jesse Powell said “Phase one was speculation, phase two is buying art and supporting artists, phase three is going to be functional uses of NFTs.” While the NFT marketplace arena is getting crowded, Kraken would be the first to custody assets.
On Mondays, our ‘Scan The Week’ section is designed to show our community what events and headlines we will be keeping an eye on.
Monday, 27 December
Harmony’s Trustless Ethereum Bridge will go live, giving users the ability to transact between the Harmony blockchain and ERC-20 tokens while avoiding ETH gas fees.
Tuesday, 28 December
Pre-staking tokens in order to receive $SMR and $ASMB rewards starting December 28th.
⛴ YGGSEA AMA
YGGSEA is hosting an AMA with @beep_crypto – scheduled for Dec. 28th at 3:30PM UTC+8. The conversation will feature the Co-Founder @UmarIrene, Advisor @mrblocktw and Head of Investments Daniel Wang.
Polygon is now a strategic partner of KeyFi. KeyFi received a grant to support development and expansion into the Polygon ecosystem beginning with staking, governance and more.
Wednesday, 29 December
Question and answer session with @Shibtoken, @davidgokhshtein and team at 6PM PST.
Friday, 31 December
Official release of 1.0 along with major updates with more gaming packages, behaviors and visual scripting.
Descartes v2.0 upgrade including Cartesi rollups coming to mainnet. Rollups will be optimistic with interactive dispute resolution.
??♂️✍️ Stories in this newsletter were written by Kyle F., Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.
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