DK Profile picture
12 Jan, 4 tweets, 1 min read
I think that this relief rally will give us Bearish re-tests across the board for $BTC ($46k, maaaaaybe $53k), $ETH ($3500, maaaaaybe $3800), $SOL (155, maaaaybe 167) and practically all other alts too. Not because the market is broken, but because I think...
... we've taken it far enough with useless coins that have only a "community" (aka apes mislead by marketing or influencers) and nothing else. So I think that should wash out before we can truly continue higher. Hedging my useful coins to a large degree with meme coins & scams...
...If we do have another major dip, I will be happy to buy $BTC, $ETH, $SOL, $NEAR, $ATOM, $DOT, $LUNA and $AVAX lower and if they rip instead, I am still thinking they should to better than the hedges and I remain net long in my spot holdings...
...I continue to see a lot of great developments and innovation, so I am not at all Bearish on markets in the mid term. In fact I think all markets end 2022 green, but I think the path there is rocky. None of this is advice. It's my thoughts and they can change quickly.

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More from @dkcrypto13

13 Jan
I really love all the project we work with. Truly. But my favorite project in #crypto at the moment is doing its #IDO soon so I wanted to share a bit: Acumen Network @acumenofficial building on #solana.

A 🧵on why I like it so much and why I think it‘s just what #DeFi needs:
1/ Acumen has set out to use the power of #DeFi to bring #microfinance to underserved segments of the world, starting in El Salvador.

Microfinance means giving out very small loans to people who otherwise don’t have access to financing to start a business or keep it going.
2/ Famously the inventor of microfinance, Muhammad Yunus, received the nobel prize for peace for his invention and the effect it has on communities if done right.

This isn‘t to say it can‘t be criticized. Lot‘s can still go wrong and some microfinance is exploitative.
Read 24 tweets
8 Jan
I think we look pretty bad, but I also think we are due relief. I know that‘s not helpful, but I kinda think after weekend shenanigans are over we follow tradfi again and I‘d be more inclined to lean relief rally than more doom. Not advice. Purely musings.
$38-41k is most stacked area with bids on bitfinex. If we fall through that area I think we see a liquidation cascade to $30k. I think mid term it‘s 70% likely we test that liquidity again. But it also is the best chance for any bounce. If there is one.
I mean this red line is pretty pivotal. Pun intended.
Read 5 tweets
5 Jan
Sitting right at the bitfinex buy wall. We break through this and 42k looks pretty fast… not advice Image
42.55k was the last bitfinex buy wall before 40.5k, so I got a small bid filled at 42.65k… small. Very small. Not advice. Not even small advice
Real test for $BTC will now come at $45/46k. If we can reclaim that I think we have every chance to see >$50k again. If we get rejected or don’t even get there, I think $40k and maybe even $30k are in play. Never advice you know the drill.
Read 6 tweets
2 Jan
2022 in crypto.

Pretty much every larger account that made a name trading is Bearish.

Funding is leaning negative (traders press shorts).

Everyone expects the Fed to kill the party & regulators to finish it off.

Everyone has learned crypto can only really rise if $BTC rises.
I am not sure.

I know the Fed is fighting inflation and has historically always caused a recession in doing so successfully.

I also know $BTC behaves like digital gold and gold itself is a pretty stupid idea & only really works when liquidity expands.
I also know, historically all of crypto has been extremely correlated to $BTC and its chart looks sh1t.

So these aren’t amazing conditions for a rally in crypto prices.

However, I have long held the view if crypto is to be an actual asset class, altcoins have to de-correlate.
Read 12 tweets
1 Jan
I am getting to a point where I cannot take #crypto haters seriously anymore:

- Coins with governance and revenue rights to a smart contracts aren’t scams. They are decentralized ownership aka equity
- It may seem absurd to have a start up valued at $100m fully-diluted but…
… that’s the point - “fully” diluted implies there will not be future (stock) issuance, so this number compares to maybe 5m$ valuation of a classic equity start up that will raise multiple rounds issuing new stock in the future
- #tether was not backed in 2017 and…
… very clearly was a criminal enterprise then. If only just for money laundering rules. But that should/will hit the people in charge. Pretending “tether isn’t backed” today and misinterpreting every other print because it fits your narrative is just dumb. Are they…
Read 15 tweets
30 Dec 21
Assuming you have $SOL sitting somewhere and you do not wish to sell it, but want to hold it and maximize yield, here is one thing that currently works like an endless #yield loop:

1) Split the $SOL 50/50 into @MarinadeFinance and @SoceanFinance - liquid staking for 6.75% annual
2) take your $mSOL and $scnSOL (the token you receive in exchange for staking) and deposit them as collateral on @solendprotocol receiving additional 1.8% yield on those

3) borrow $SOL from solend, which is being subsidized with $SLND rewards and has a NEGATIVE borrow cost of 5%
4) take the $SOL you just borrowed and rinse / repeat steps 1-3 above as many times as you dare

5) take the final $SOL (after the last repetition you dare to do) and deposit them as collateral on @TulipProtocol for an additional yield of 5.5%
Read 14 tweets

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