1/ #NFTs are showing the power of an idea and movement among a group of people with a similar ideology or passion. And #NFTs becoming a symbol by which these groups identify themselves in the digital world
2/ It may be hard to see the value here but imagine being buying digital memorabilia of your favorite sports team vs a team you have never heard of. I doubt you would be as price sensitive for something that you identify with.
3/ And these #NFT communities are lively! Most notably is the @BoredApeYC. They have a roadmap and currently the floor price is ~39 ETH minimum (~$120k). To be a part of this, you need to own a Bored Ape NFT
4/ But in general, the market is super active and even now @twitter is looking into integrating #NFTs with Twitter profile pictures. A great move as many on #Crypto Twitter have #NFTs as their profile picture and they have a strong emotional connection to some of their NFTs
5/ @opensea, the largest #NFT marketplace, has seen active users go from ~400 in September 2020 to ~30,000 today
6/ Most valuable #NFTcollections on $ETH are CryptoPunks (@larvalabs), @BoredApeYC, and Fidenzas (@tylerxhobbs) though I am sure I am missing a lot more big ones. Below are top collections by volume on @opensea (CryptoPunks had 135k ETH (~$400mm) in volume the past 30 days!)
7/ @AxieInfinity is a play-to-earn game built on top of the #Ethereum network with the largest discord globally with 800k members. It has sold the most $ETH NFTs of anyone with ~64k in sales

Source: @DappRadar
8/ And new collections are coming out as a community supporting a cause. One is supporting Mental Health Awareness ( @BlankFaceNFT)
9/ @SnoopDogg is getting into the NFT game too. Who said NFT’s don’t have utility…
decrypt.co/81720/snoop-do…
10/ But all this activity ignores the biggest #NFT news which is the NFT madness on #Solana. NFTs were not even possible last year for #Solana but they started over the past several months. Total market cap of $360mm! #SolanaNFTs
11/ And look at the total value for some of these collections! @DegenApeAcademy, @SolanaMBS, @FraktArt, @AuroryProject, @galacticgeckosg, and @PunksOnSolana near the top. @galacticgeckosg came out last week and already have a value of $21mm
12/ A look at these purchases by a London Hedge fund called @MoonrockCapital!
14/ In $SOL, so many #NFTs are coming out that it hard to keep track, but here is a quick list of others not mentioned in the top 10 of @solanalysis

@DegenBoldBadger
@fancyfrenchnft
@TheCavemenClub
@SolanaDogeNFTs
@solsneks
@PandaFraternity

And so many more
15/ These NFTs are doing airdrops, the communities are growing, and some are even building games (@Aurory). And if you jump in the discords, you’ll see some #NFT communities thriving, where the community builds on top of what the initial team has done
16/ And some #NFTs are getting a huge following. @galacticgeckosg has a huge following and large #crypto twitter accounts are or were repping them, including @Pentosh1, @TraderKoz, @CryptoKaleo , @Cryptanzee, etc.
17/ There are even #NFTs on $AVAX, with much less transaction than $SOL but nonetheless $AVAX is extremely promising. One being @AvaxApesNFT
18/ And #Cardano has just completed its Alonozo hard fork to add smart contract capability. And #NFTs are coming now on #Cardano. @CNFT_IO is the first #CardanoNFT marketplace
19/ Oh and now there are #NFTs on $ICP (@dapperlabs) called @IcPunks
20/ #NFTs are gaining mass traction and are a major driving force behind current adoption and demand

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More from @DermanCapital

26 Sep
1/ All Things Crypto

A thread
2/ TLDR

1) #Crypto is growing rapidly with mass adoption through #NFTs and the market is rewarding L1s with this functionality

2) $BTC is driving the crypto market and continuing the 4 year cycle

3) We should watch out for L1s decoupling from BTC cycles as adoption accelerates
3/ Today, I want to cover all things crypto that I am seeing in the market. These are broken down in the following sections:

1) Macro
2) $BTC
3) NFTs
4) $ETH
5) $SOL
6) Layer 1s ( $AVAX, $DOT, $ADA, etc)
7) Super Cycle Theory
8) 30k Foot View of #crypto
9) Final Thoughts
Read 14 tweets
26 Sep
1/ The Super Cycle Theory

Many of been hearing the idea of the #supercycle for #cryptocurrencies and I want to give my take on this idea
2/ But first, let me define what the super cycle means to me

It is when #cryptocurrencies including $BTC break away from the historic #bitcoin cycles corresponding to the #bitcoin halvings

They start to go up or down based on their own fundamentals
3/ It is abundantly clear these cryptocurrencies such as $ETH, $SOL, and $ADA have yet to hit escape velocity

For example, when #bitcoin crashed in May 2021, all other #cryptocurrencies still crashed and crashed way further than bitcoin
Read 7 tweets
26 Sep
1/ There are other layer 1s being adopted. Some layers 1s include:

1) @avalancheavax

2) @Polkadot

3) @Cardano

And so many more that are in development or early stages
2/ @avalancheavax

Another smart contract platform, $AVAX has gone from 0 to ~$4bn in TVL in 6 months

Source: @DefiLlama
3/ $AVAX continued

Let's not forget those NFTs
Read 10 tweets
26 Sep
1/ Adoption of #Solana is hitting critical mass. A popular #Solana wallet, @phantom, has been live 6 months and already has 400k weekly active users
2/ And the entire $SOL ecosystem. The point is that there is a lot in this picture

Source: @solanians_
3/ Total Value Locked in #DeFi protocols on #Solana are nearing ~$9bn as of this writing. Exponential growth anyone?

Source: @DefiLlama
Read 10 tweets
26 Sep
1/ $ETH is easily the most compelling cryptocurrency broadly among the crypto community

We can see this in how rapidly the number of #Ethereum active wallets is growing
2/ Total value locked in DeFi protocols on #Ethereum hit all time highs recently. Currently at $124bn

Source: @DefiLlama
3/ The number of daily transactions on #Ethereum broke 700k recently (30 average)
Read 7 tweets
26 Sep
1/ $BTC is continuing to act similarly to previous cycles and is still following the stock-to-flow model fairly well (popularized by @100trillionUSD)
2/ #Bitcoin’s price from 2016-current is mapping shockingly well to 2010-2013
3/ This past week, @Twitter integrated bitcoin tipping for twitter accounts, running off the bitcoin lightning network
Read 6 tweets

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