- The Wei - From D¢ENT Ventures
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- The Wei - 7th Edition
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Ayo, hunters!
Web3 just don’t stop. It seems like every week there is a new narrative, earth-shaking announcements, and countless opportunities to ride to the moon (or get rekt). With the bull market heating up for a crypto-summer of epic proportions, things are guaranteed to get even crazier.
Let’s see what happened this last week in web3.
In this edition
Feature Article
DRVN Culture Joins the The Wei
The content ecosystem of D¢ENT Ventures is growing! The Wei now has a companion publication and newsletter dedicated to an active and evolving crypto sub-genre. The automotive web3 community.
It is my pleasure to introduce DRVN Culture. Our objective is to create the ultimate web3 car culture publication, designed to “unite & ignite” the community. This digital-rag will showcase all the news, announcements, and alpha from projects in the niche. It will also feature the IRL automotive lifestyle of members from across the communities, including their race highlights and project cars. |  |
DRVN Culture began last year as my personal automotive lifestyle blog. However, as I dug deeper into the various web3 communities catering to petrolheads and sim racers, I realized there is an opportunity to unite all of these disparate families around their shared passion for cars and crypto.
The first issue drops next Wednesday, so head on over and give it a sub, if you’re so inclined. For more details on our move to bring this under the D¢ENT umbrella, give the post below a read.
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
Animoca Brands launches the Motorverse, bringing together various automotive web3 projects, including REVV token, Torque Motorsports, and Torque Squad, to form the largest car community in the space.
(DRVN Culture will be publishing a feature article covering this massive announcement in the coming days.)
The Avalanche network went offline for nearly 5 hours… But that never seemed to stop Solana.
Binance settles with the U.S. DOJ for $4.3 billion. Prosecutors request CZ surrender passport ahead of sentencing.
Biden’s probe into Bitcoin mining energy consumption halted, as new emails from Satoshi emerge, predicting energy scrutiny.
Uniswap’s UNI token surges 60% on announcement of airdrop and revised governance plans.
Nigeria bans cyrpto, but Coinbase don’t care.
🪙 The Token Economy
Market Snapshot
The cryptocurrency market sentiment is positive as Bitcoin consolidates above $50,000. Analysts are watching inflows into spot Bitcoin ETFs to predict the next move. Strong equity markets, upcoming halving, and solid inflows into spot Bitcoin ETFs are expected to limit downside. Bitcoin is taking a break near $52,000, but analysts anticipate it will continue its uptrend. Altcoins also show strength on the charts.
Bitcoin:
BTC is consolidating near $52,000, with strong support at $50,500 and resistance at $53,000, indicating a tight range. A break and close above $53,000 could potentially lead to a rally to $60,000, while a slide below $50,500 may shift the advantage to the bears.
Ether:
ETH is in a strong uptrend, finding support near $2,850 and resistance close to $3,000, with the potential for a rise to $3,300 and subsequently to $3,650. The 20-EMA turning up and the RSI in positive territory suggest that the path of least resistance is to the upside, but a slide below $2,850 could lead to a decline to $2,717.
Uniswap:
UNI skyrocketed above the overhead resistance of $7.79, signaling bullish control, with potential resistance at $11.63 and $12.85 and support at $9.91 and $9.21. The pair faces resistance near $11.63 on the 4-hour chart, but maintaining support above this level could lead to a rally, while breaking below the 20-EMA suggests the bears are making a comeback.
Filecoin:
FIL's bulls are trying to clear the overhead zone between $8.12 and $8.57, signaling a potential uptrend resumption and a target of $10. However, a break below $7.70 could indicate strong bearish defense and a decline to the 20-day EMA at $6.74, with the RSI showing signs of weakening bullish momentum.
The Graph:
GRT broke above the $0.23 overhead resistance, with bulls resisting a drop below the breakout level, suggesting potential upward movement to $0.37. While support at the 20-EMA indicates an intact uptrend, a negative RSI divergence on the 4-hour chart implies weakening positive momentum, and a break below the 20-EMA could lead to a dip to $0.23.
Top 5 Token Stats
Token | Price | 7D Change | Mcap |
|---|---|---|---|
BTC | $51,323.55 | -0.9% | $1T |
ETH | $2,980.67 | +8.4% | $357.92B |
BNB | $384.09 | +9.5% | $59.05B |
SOL | $102.18 | -9% | $45.02B |
XRP | $0.54 | -3% | $29.49B |
Fear & Greed Index: 74 (Greed)
🔥 Hot Coins of the Week
$REVV on Ethereum, Polygon, and Binance Chain: While the price has yet to reflect the Motorverse news, REVV may prove to one of the hottest gamefi tokens on this cycle.
Bounty submitted by @your-name-here - Alpha Hunters wanted$OS on Ethereum: Last week we highlighted EthereansOS’ ERC404 memetoken $ERR. In a recent announcement, the team indicated that those who hold both $ERR and their protocol token $OS will be eligible for an airdrop of another forthcoming token.
Bounty submitted by @your-name-here - Alpha Hunters wanted$PEAS on Ethereum: Defi has a hidden gem. $PEAS from Peapods.finance has developed a model for generating “real yield” by mining the one constant in crypto. Volitility.
Bounty submitted by @your-name-here - Alpha Hunters wanted
BOUNTY - 1,000 $WEI REWARD
Been eyeballing a slept-on 🪙 lately?
Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.
🎮️ Web3 Gaming
Gamefi FTW
No Gamefi pick for you this week... Our research took us down other paths. That’s why we need trusted Alpha Hunters to help bring the best finds to the table. See the bounty info below for more details.
BOUNTY - 3,000 $WEI REWARD
A new web3 got you unable to put down the 🎮️ ?
We want to hear about it! Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.
💹 YIELD
Defi the Odds
Bounty submitted by @your-name-here - Alpha Hunters wanted
🤑 Top yield play of the week
As mentioned in our list of Hot Coins above, there is a new player in the Defi ring and it has introduced a novel… potentially genius mechanism for generating “real yield”. Meaning, it reward users via tokenomics not dependent on endless emissions, thereby constantly inflating their token into obscurity.
Peapods has found a way to reward protocol participants in two ways.
Single-sided staking that allows users to remove more tokens than they stake. Put simply, by wrapping your tokens in a pod that incentivizes bots (and traders) to
LPing your wrapped pTKNs then staking the LP tokens results in $PEA rewards.
The mechanism they use is admittedly quite complex, but when you understand how it works, it’s quite revolutionary. You don’t have to take our word for it. While we read their docs in detail, we suggest you do the same.
The Play
Stake (or wrap) one of various tokens in a “Pod”. Then take the resulting pTKN along with some pOHM and head over to the LP & Stake tab to earn LP rewards. Not only will you earn $PEAS rewards, you will also be able to extract a higher amount of both your selected pTKN and pOHM when you’re done staking and choose to unwrap them.
For example. If you wrap $PEAS and $OHM you will earn 57% and 18.4% APR respectively, then another 86.2% APR in LP rewards. Try getting that at your bank.
Defi Sector Stats
Chain | Protocol | 7D Change | TVL |
|---|---|---|---|
Ethereum | 980 | +6.76% | $47.46B |
Tron | 29 | -4.1% | $8.47B |
BSC | 698 | +6.94% | $4.25B |
Arbitrum | 550 | +3.08% | $3.05B |
Solana | 129 | +1.82% | $2B |
BOUNTY - 1,500 $WEI REWARD
Got a hot tip on some 🔥 defi plays?
Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.
🖼️ NFTs
Collection Dropping This Week
Bounty submitted by @your-name-here - Alpha Hunters wanted
Mercedes-Benz NXT Superdachel: Minting Monday 2.26 @ 9am PST - 6pm CET
Mercedes-Benz, being the innovators they are, is building a digital collectible ecosystem. The scope of which spans 3 core collections.
Maschine, a series of stunning animated art pieces created by renowned artist Harm van den Dorpel in collaboration with Fingerprints DAO and explores themes of motion, velocity, and perception.
NXT Eternities, bestowed exclusively on a small number of selected Mercedes-Benz top customers will be minted IRL at top-customer events to take them along on our journey.
NXT Icons, a celebration of Mercedes-Benz's design heritage. These collectibles were created by the Mercedes-Benz design team, headed by Chief Design Officer Gorden Wagener and span 7 sub-collections or “Eras”. Each explores a different facet of the MB heritage. Currently, only the first Era has been released.
Their free mint dropping tomorrow is a welcome respite from their more serious vibes. The Superdachel mint is intended to be a fun interim collection between NXT Icons Era 1, “The Era of Luxury” and Era 2, “The Era of Technology”.
Superdackel is an homage to the iconic nodding dog dashboard toy called Wackeldackel, introduced by Mercedes-Benz and Superplastic at CES 2023. He’s cute, mischievous, and a dog. In other words, the perfect NFT character.
How exactly this collection fits into their big picture remains to be seen. But if you are an automotive and web3 fan, there is no reason not to mint yourself a Superdachel. The mint already opened for NXT Icon holders and “community friends”, with the final phase of public mint going live on Monday 2.26 for the remaining 234 Superdachels.
NFT Market Performance
Collection | Chain | Floor | 7D Change | 7D Vol. | Listed |
|---|---|---|---|---|---|
BAYC | Eth | 22.59 | +3.1% | 6257.56 | 381 |
DeGods | Eth | 3.064 | +9.73% | 1788.34 | 301 |
Pudgy Penguins | Eth | 19.2 | -8.9% | 5248 | 394 |
Creepz | Eth | 4.89 | +102% | 2142.06 | 140 |
CryptoPunks | Eth | 56.79 | +0.18% | 1675.46 | 959 |
BOUNTY - 1,000 $WEI REWARD
Got a a scoop on a hidden 💎 of a collection?
Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.
🛠️ Tools & Resources
Degen Armory
Bounty submitted by @your-name-here - Alpha Hunters wanted
Are you a degen memecoin trader? If so, it should be no surprise that Solana is the hot chain for memecoins. Lots of SOL can be made (or lost) trading microcaps on Solana. Sometimes the speed of your trade is the only thing standing between you and profit or loss.
BONKbot is the best tool to trade on Solana like a pro. Their Telegram trading bot executes lightning-fast trades, getting you in and out of volatile positions, so you can lock in your gains.
This of course is not financial advice. Trading memecoins can be extremely risky. Only put in what you are willing to lose. But should you choose to, this is a great tutorial to set up and use BONKbot.
Tools Mentioned in Previous Editions
Mintify: The ultimate NFT trading terminal.
The Arena: A rising star in the SoFi (Social Finance) sector.
Inspect.xyz: The Layer 2 on X. Optimize the platform for your web3 journey.
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.
BOUNTY - 1,000 $WEI REWARD
Find a tool or resource 🛠️ that should be in every degen’s arsenal?
Become an Alpha Hunter and submit your finds. If we add it to an upcoming edition of The Wei, the bounty will be yours! To get started read how to join the Alpha Hunter Clan. It takes less than 5 minutes and everyone is welcome.
We also accept sponsored mentions for quality projects. Interested? Reach out.
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.
Sign up as an Alpha Hunter to contribute to any of the content bounties posted throughout our newsletter.
Submit a guest post or article for publication.
Become an Elite Hunter to earn even bigger bounties.
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.
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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].
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