- The Wei - From D¢ENT Ventures
- Posts
- The Wei - 3rd Edition
Ayo! Alpha hunters, assemble!
This week has been… interesting. While the top cryptos have been taking a breather after the sell-the-ETF-news events of last week, the NFT market is partying it up, with many of the top collections chillin on an island in the metaverse. Meanwhile, Solana continues to make moves with a solid memecoin, NFT and, uh, mobile phone market.
Let’s dig in.
In this edition
Today’s edition is brought to you by Beehiiv. The all-in-one publishing suite, designed to easily grow and monetize your newsletter and blog.
NEWS
Top Headlines this Week
Trump's Based CBDC Stance: Orange man just took a position everyone should applaud, and may build support among crypto fans. His plan? Blocking U.S. CBDCs! A political twist in the election narrative that puts him poles apart from the Democrats desired monetary policy. Regardless of your opinion of the man, it’s a move I can 💯 get behind.
OpenSea Case Twist: Ex-OpenSea exec challenges conviction; NFTs - property or not? Legal boundaries in crypto tested.
Ethereum's Staking Surge: 24% of ETH now staked! A monumental shift in Ethereum's landscape.
ETF Decision Delayed: SEC hits pause on Fidelity's Ethereum ETF decision. The crypto world waits with bated breath.
Solana's Smartphone Sequel: Solana doubles down on crypto phones! The tech giant's second strike in the smartphone arena.
The Token Economy
Market Snapshot
The crypto market this week has seen a mix of anticipation and volatility as Bitcoin ETFs started trading without the expected price boost, leading to significant sales and a drop in the Crypto Fear & Greed Index to neutral levels. The market awaits the U.S. Federal Reserve's decision on rate cuts which could affect risk assets positively. Major cryptocurrencies are at a potential turning point, with Bitcoin and Ethereum showing signs of possible uptrends while others like BNB, XRP, and Solana indicate mixed sentiment. The overall market is bracing for changes as macroeconomic factors come into play.
(Snapshot taken on 1.15.24 - As I will be out of town in the days leading to this edition’s publication.)
Bitcoin: BTC is at a pivotal point, with potential support at $40,000 and a resistance barrier at $44,700. A successful breach could push it towards $50,000.
Ethereum: ETH shows bullish signs with support near $2,400. A rebound from this level could trigger a rally to $3,000.
Binance Coin: BNB's recent recovery may test resistance at $350, with potential growth to $400.
Ripple: XRP faces a struggle, with a downward trend and immediate support at $0.56. If this level breaks, it might fall to $0.50.
Solana: SOL is at a crucial juncture, balancing supply and demand. Key support at $67 and resistance at $117.
Cardano: ADA is in a descending channel, with immediate resistance at $0.55. A breakout could lead it to $0.68.
Avalanche: AVAX is trading below a crucial level of $38. A further decline might retest the $31 support.
Dogecoin: DOGE is under bearish pressure, with immediate support at $0.07 and resistance around $0.10 to $0.11.
Token | Price | 7d Change | Mcap
BTC | $41,614.19 | -2.7% | $815.79B
ETH | $2,461.26 | -4.3% | $295.67B
BNB | $314.66 | +4.0% | $48.39B
SOL | $91.96 | -3.0% | $39.85B
XRP | $0.5465 | -4.9% | $29.68B
🔥 Hot Coins of the Week
$DOBI on Solana: Many on crypto-X are describing it as on of the most highly undervalued memecoin on the Solana network, $DOBI's technical chart is drawing attention, and its team's activity is stirring excitement. The question on everyone's mind: How is it still under a 1M market cap?
Alpha posted by @KristjanU$RON on Ronin Network: Currently ranked #113 by market cap, $RON is on the cusp of entering the top 100. When it does, it's expected to enter a new phase of price discovery—a game-changer for its valuation.
Alpha posted by @Axie_Chomp$ROAR on ETH: $ROAR stands out not just as a memecoin unique among the memecoin market due to its original branding and top-notch humor, but as a token with a roaring community as well. Currently available at a discount, but $ROAR is positioned to soar.
Alpha posted by @DaRealFnTrap
BOUNTY - 1,000 $WEI REWARD
Been eyeballing a slept-on 🪙 lately?
Respond to this email, or send us a message at [email protected] and if we add it to an upcoming edition of The Wei, the bounty will be yours! We also accept sponsored mentions for quality projects. Interested? Reach out.
Web3 Gaming
Gamefi FTW
Bounty submitted by @your-name-here - Bounty Hunters wanted
Create, Share, Play, and Prosper on Nifty Island
Nifty Island is a gaming platform where creativity meets community in the world of GameFi. With its open beta now live and free to play, Nifty Island offers a dynamic space where players can craft their own islands, share them with others, and engage in playful experiences that go beyond the game. It's a place where your NFT avatars aren't just digital assets but characters that explore, interact, and embark on quests within a vast metaverse.
What sets Nifty Island apart is its blend of gaming with NFT culture, allowing players to connect with their favorite NFT communities like Azuki, BAYC, CloneX, and others. The platform encourages you to play as your NFT avatar, unlocking exclusive in-game experiences and earning valuable prizes. The quests on Nifty Island aren't just for fun; they're opportunities to win on-chain rewards, including NFTs and cryptocurrency. With a marketplace to explore and a leaderboard to climb, Nifty Island is shaping up to be a hub for both gamers and collectors, a place where the lines between playing and earning are beautifully blurred.
BOUNTY - 3,000 $WEI REWARD
A new web3 got you unable to put down the 🎮️ ?
We want to hear about it! Respond to this email, or send us a message at [email protected] and if we add it to an upcoming edition of The Wei, the bounty will be yours! We also accept sponsored mentions for quality projects. Interested? Reach out.
YIELD
Defi the Odds
Bounty submitted by @your-name-here - Bounty Hunters wanted
🤑 Top yield play of the week
Boost Your Stakes with Convex Finance
Discover Convex Finance, the DeFi platform that's turbocharging rewards for Curve.fi liquidity providers and CRV stakers. Convex allows users to compound their earnings by providing enhanced liquidity and staking services without locking up their assets, making it an indispensable tool in the yield maximizer's arsenal.
Convex Finance: CVXCRV Pool
Total APY: 17.79%
Total Value Locked: $118.72m
Convex Finance offers a robust annual percentage yield (APY) on its CVXCRV pool, drawing in substantial value. With a current APY of 17.79%, it's a hot spot for DeFi enthusiasts looking for substantial returns on their investments.
Defi Sector Stats
Chain | Protocols | 7d Change | TVL
Ethereum | 1004 | +0.78% | $32.86b
Tron | 29 | -3.95% | $7.79b
BSC | 690 | -1.9% | $3.47b
Arbitrum | 526 | +1.57% | $2.62b
Solana | 123 | +4.66% | $1.33b
BOUNTY - 1,500 $WEI REWARD
Got a hot tip on some 🔥 defi plays?
Respond to this email, or send us a message at [email protected] and if we include it to an upcoming edition of The Wei, the bounty will be yours! We also accept sponsored mentions for quality defi projects. Interested? Reach out.
NFTs
Collection Dropping This Week
Bounty submitted by @your-name-here - Bounty Hunters wanted
CrazyCups Club: Minting Jan 26, 2024
Imagine a universe where reality and fantasy intertwine, a tale that comes to life within CrazyCups. In this corner of space-time, there exists an island brimming with adventures and exotic beings. At the heart of this unique land stands a majestic club that radiates opulent parties, excesses, and boundless wealth. All of this is the creation of peculiar cup-shaped creatures, beings longing for opulence and indulging in endless revelries. Here, sunlight doesn’t peek through; space turns into a dark terrain illuminated only by the club's flickering lights...
NFT Market Performance
Collection | Chain | Floor | 7d Change | 7d Vol. | Listed
Pudgy Penguins | Eth | 17.89 | +67.26% | 8871.86 | 509
Lil Pudgys | Eth | 1.7369 | +101% | 4368.15 | 1006
Azuki | Eth | 7.329 | +10.31% | 7117.24 | 590
Bored Ape Yacht Club | Eth | 24.599 | +8.37% | 6004.97 | 492
Mutant Ape Yacht Club | Eth | 4.594 | +15.00% | 5096.75 | 1004
Tools & Resources
Degen Armory
Bounty submitted by @your-name-here - Bounty Hunters wanted
In the previous edition of The Wei, we broke the unfortunate news that X (Twitter) will no longer be supporting NFT PFPs. But if the web3 does one thing right, it’s being innovative as fuck.
Today, we’re bringing you a tool that allows you to regain that capability, and so much more. In fact, they tout their product as the Layer 2 for X! Inspect.xyz
Color me intrigued!
When you install the Inspect browser extension, your all-in-one crypto, NFT, and DeFi companion, you will get real-time analytics an all the web3 content that crosses your feed.
Their offering doesn’t stop there. Soon they will be launching their DAO, Inspect Pro, a mobile app, and a powerful API. Inspect puts the power in the hands of its community, ensuring that every update and decision fuels the community's needs. With over half a million users, staying ahead of market trends and managing your digital assets has never been easier.
Tools Mentioned in Previous Editions
Wallet Guard: The most advanced web3 security extension featuring transaction simulation and proactive phishing detection.
Presearch: The next-gen search engine for web3 natives, that pays you.
Ready to earn, bounty hunter?
The Wei wants you to be part of our network of mercenaries, delivering the best that web3 has to offer to our readers. And we will $WEI you handsomely for your time. Here are the various ways you can earn.
Contribute to any of the content bounties posted throughout our newsletter.
Submit a guest post or article for publication.
Become an Elite Hunter.
Easiest of all, refer new subscribers to the newsletter.
Each method will have its respective rewards clearly posted. Rewards are issued in an airdrop at the end of every month. Learn more about the $WEI token here.
Gif by disneyplus on Giphy
Want to sponsor The Wei?
We are working on a simple and streamlined way to submit your sponsorship requests. But for now, please email you inquiries to [email protected].
Join the conversation