An assortment of random thoughts on the market:
- Seems like Blast is somehow still very under the radar / under farmed.
- Seems like Runes was a bit of a flop out of the gate, now people are fudding, and it's probably a good time to buy and things will go crazy again at some point.
- Meme coin mania seems to be in a bit of a holding pattern - a few coins are still performing well, but we're not seeing market-wide-mania like we did plenty of times of the last few months.
- Base season seems to be heating up, still think it's very early there.
- Ordinals are cooling off a bit, probably going through a consolidation phase.
- ETH NFTs appear to maybe, perhaps, finally, have bottomed out or near bottomed. Apes up 40% in a couple of weeks, Gen art catching bids with Squiggles up like 50-60% in the last few weeks among other things.
- Airdrop farming isn't spoken about as much as it was late last year. Probably means it's a great time to be farming. Some big drops coming up in the next 1-2 months.
- Cosmos Eco went from the hottest thing in town to something only occasionally mentioned. Probably needs another big airdrop to stakers to get people paying attention again.
- Retail still isn't here yet. Mostly still the same degens PvP'ing against each other, with a (now slow) trickle of ETF funds coming in. Some people who bowed out last bear are probably slowly coming back, but we're yet to see retail enter en-masse.
- Most people I know are exhausted. The fragmentation of markets and the sheer quantity of different places to be paying attention to at once is wearing people down. Feels like most people are drowning trying to keep up, even those spending 10+ hrs a day here.
- Feels like there are real concerns about the above fragmentation, and I agree. I think this might be the first cycle where it's *much* more risky buying random alts vs sticking to the blue chip / highest conviction plays. Hard for *everything* to pump across the board like we've seen in the past. This applies very much to NFTs, but also fungibles, meme coins, everything.
- Ultimate strategy to me, still, seems like finding a handful of things you have the highest conviction in and allocating with size to them, and being patient.
- If you don't have much capital, the best strategy is airdrop farming, as it's always been. It's so obvious, yet most people still try to use what little funds they have to hit a 1000x on a meme coin instead of farming the near-guaranteed-high-ROI of airdrops.
All this is said with a huge disclaimer: I have been trying to take my own advice and not fall in the trap of putting in "only" 3-4hrs a day of work for the last 6 weeks, and instead have been putting in 0-1hrs a day just to keep up with the bare minimum.
So I don't feel as dialed in as usual, and would love to know how my thoughts stack up with others.
Am planning on dialing in and going max-mode for the next month though. Opportunities like these are rare in life, it's too much of a waste to remain in lazy mode.
- Seems like Blast is somehow still very under the radar / under farmed.
- Seems like Runes was a bit of a flop out of the gate, now people are fudding, and it's probably a good time to buy and things will go crazy again at some point.
- Meme coin mania seems to be in a bit of a holding pattern - a few coins are still performing well, but we're not seeing market-wide-mania like we did plenty of times of the last few months.
- Base season seems to be heating up, still think it's very early there.
- Ordinals are cooling off a bit, probably going through a consolidation phase.
- ETH NFTs appear to maybe, perhaps, finally, have bottomed out or near bottomed. Apes up 40% in a couple of weeks, Gen art catching bids with Squiggles up like 50-60% in the last few weeks among other things.
- Airdrop farming isn't spoken about as much as it was late last year. Probably means it's a great time to be farming. Some big drops coming up in the next 1-2 months.
- Cosmos Eco went from the hottest thing in town to something only occasionally mentioned. Probably needs another big airdrop to stakers to get people paying attention again.
- Retail still isn't here yet. Mostly still the same degens PvP'ing against each other, with a (now slow) trickle of ETF funds coming in. Some people who bowed out last bear are probably slowly coming back, but we're yet to see retail enter en-masse.
- Most people I know are exhausted. The fragmentation of markets and the sheer quantity of different places to be paying attention to at once is wearing people down. Feels like most people are drowning trying to keep up, even those spending 10+ hrs a day here.
- Feels like there are real concerns about the above fragmentation, and I agree. I think this might be the first cycle where it's *much* more risky buying random alts vs sticking to the blue chip / highest conviction plays. Hard for *everything* to pump across the board like we've seen in the past. This applies very much to NFTs, but also fungibles, meme coins, everything.
- Ultimate strategy to me, still, seems like finding a handful of things you have the highest conviction in and allocating with size to them, and being patient.
- If you don't have much capital, the best strategy is airdrop farming, as it's always been. It's so obvious, yet most people still try to use what little funds they have to hit a 1000x on a meme coin instead of farming the near-guaranteed-high-ROI of airdrops.
All this is said with a huge disclaimer: I have been trying to take my own advice and not fall in the trap of putting in "only" 3-4hrs a day of work for the last 6 weeks, and instead have been putting in 0-1hrs a day just to keep up with the bare minimum.
So I don't feel as dialed in as usual, and would love to know how my thoughts stack up with others.
Am planning on dialing in and going max-mode for the next month though. Opportunities like these are rare in life, it's too much of a waste to remain in lazy mode.
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