Degenz Morning Update: Everything you need to know across Crypto, NFTs and the general market🧵
1/6 MACRO - Equities closed benignly on Friday, with SPX down 0.16% and NDQ down 0.37%. Futures are in the green this morning, up about +0.3%. Volatility in interest rates and shifting sentiment around big macro numbers have been interesting, 2Y is back to 3.98%.
2/6 MACRO - This week's data is not very exciting. US retail sales on Tues might offer insights on consumption, but it tends to be a lower vol event for markets. We're cruising into summer mode, with the next FOMC on 13-14th June. Expect some illiquidity ahead.
3/6 CRYPTO - After struggling, we're seeing a nice bounce today. BTC is back up to 27.4K and ETH to 1830. Altcoins are also bouncing with 5-7% moves. The recent crypto weakness might be subsiding, forming support. Shitcoin market is interesting, with PEPE climbing on Elon's tweet
4/6 CRYPTO - TURBO is up 5% this morning. Watch out for Ben.ETH's "$PSYOP" shitcoin, raising almost $7m in a presale. It's a staggering amount of money, and whether it's a scam or not, it'll be a massive market event that regulators can't ignore.
5/6 NFTs - Volume has been around $20-30m for a couple of weeks, feeling like the new normal. Some floor prices are rebounding, and attention is slowly returning to NFTs. Sothebys' auction of the 3AC portfolio starts on 18th, a bellwether for the upper end of the market
6/6 NFTs - Special shoutout to Rektguy, climbing the rankings with a 30% increase in floor price to 0.69ETH. We're a week away from our 1-year anniversary, "still alive" thanks to our amazing community. Your support is greatly appreciated! #NFTs#CryptoCommunity
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Degenz Morning Update: Everything you need to know across Crypto, NFTs and the general market🧵
1/4 - MACRO: Equities had a modest green day, with SPX up 0.3% and NDQ up 0.6%. Interest rates remain stable, not much on the macro front apart from US retail sales data. Nothing else to add at the moment on the Macro front.
2/4 - CRYPTO: BTC maintains above 27K, ETH at 1813. Altcoins holding gains from yesterday. The ultrasound.money website shows ETH burning 1.6% of supply annually, making ETH bullish long-term. Mechanics make you question holding anything else.
Degenz and Flips Finance have been building alongside each other since the start of the year and we are now ready to formally join forces.
Our aim going forward is to create the best all-round utility product for NFTs with an incredible community behind us. We will be known as simply Degenz.
Our new, improved home will be degenz.finance and the Flips discord will be integrated into the Degenz one.
We are looking to hire a Community Manager. You will be working directly with the existing team. Details are below:
2. Requirements:
- Take control of the Twitter account for comms, marketing and engagement purposes
- Be responsible for management of the Discord server (optimising channels, interacting with members, answering questions etc)
- Generate ideas to engage with the community
3.
- Have a vision for where you see and want Degenz to be in 12 months' time, and be able to suggest and execute ideas to achieve that
- Coordinate direction of DegenzDAO by liaising with members. All trading fees from Degenz accrue to the DAO (currently holds 10ETH).