#DePIN is maturing into a notable sector in the crypto space.
DePIN is a network of crowd-sourced providers offering real-world services. It uses a blockchain to record services rendered and distribute rewards in cryptocurrencies.
To avoid getting into garbage #memecoins , here are some tips:
Check Contract Security: Verify if the contract address is secure. Use tools to check for locking permissions, burning mechanisms, and other safety features.
Social Activity: Look into the social activity surrounding the coin. Check the project's Twitter and Telegram channels. Evaluate the quality and frequency of tweets, the engagement level of the community, and the quality of visual content. ๐ฆ
Project Popularity: Assess the popularity of the project. Is it a recent hot topic? How many people are paying attention to it? ๐
Holder Distribution: Examine the distribution of coin holders. Are there many holders, or is ownership heavily concentrated?
A healthy memecoin should have an active community, significant interest, and a fairly distributed ownership. ๐ผ
Remember, memecoins come with high risks, and these methods can only help mitigate those risks. Always do thorough research and exercise caution before investing.
Celebrities and #crypto : Market Trends and Insights
There has been a lot of talk about this recently. However, can you gain any advantage from it? Let's see.
In 2017, several celebrities started promoting crypto projects, especially around September. After this, we saw a strong leg up before the bull market top in December 2017 and the following bear market in 2018.
In 2021, we observed something similar twice: first in February 2021 and then in October-November 2021. Both times, there was a final leg up followed by a significant correction.
Based on this we can conclude that when celebrities start promoting cryptocurrencies, the market usually experiences a final leg up before reaching a local top.
In any case, the sample size is small, and therefore the edge is limited. Nonetheless, it is interesting.
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โจ $AGIX $FET $OCEAN - The merger of ASI will be completed on June 13. Starting from June 11, $FET will be rebranded as $ASI.
โจ $API3 - API3 raised $4 million in a strategic financing round led by DWF Labs. Venture capitalists purchased tokens at $2.8 per share.
โจ $GAL - Galxe announced its own Layer 1 blockchain, named GravityChain. The network's first version will launch in June.
โจ $GMX - Arbitrum DAO has accepted GMX's STIP-Bridge proposal and will distribute 5.4 million ARB tokens to GMX as ecosystem incentives.
โจ $MPL - Maple announced syrupfi, a new protocol for institutional yields. MPL holders can migrate to $SYRUP at a 1:1 ratio. The roadmap and schedule will be announced on June 4.
โจ $MTL - Metal L2 plans to upgrade smart contracts on June 24. (Snapshot: June 24, Airdrop: June 26)
โจ $SOL - According to db @tier10k, CME has no plans to offer Solana futures.
โจ $UMA - UMA revealed a major OEV update to be released tomorrow.
โจ $WLD - Sam Altman from OpenAI and Argentine President Javier Milei discussed Worldcoin investment.
โจ $XPLA - XPLA launched its own Layer 2 chain. XPLA Verse serves as an L2 on the Oasys gaming blockchain.
โจ Gemini announced its first Earn distribution, covering 97% of owed assets since November 16, 2022. Users will receive $2.18 billion in assets.
Many are lured by the bull market in the #crypto sphere and indeed make quite a bit of money in a short time. But here's the thing, they often can't hold onto this wealth. Why?
Some folks see the bull market approaching, they become bolder, making some profit but wanting more. They're not satisfied, feeling they haven't made enough money, so they increase their investment, even borrowing money for leverage. And what happens? When the market changes, they lose all the money they previously made, and even more.
Then there are those who don't really understand the crypto world, they just hear others are making money, so they follow suit. They start cautiously but seeing the price continuously rising, they can't help but increase their investment. Eventually, they often buy in at the market's peak, and then get trapped.
And there are even some who come into the crypto sphere already burdened with debt, hoping for a quick turnaround. They make some money initially, then start feeling invincible, losing their respect for the market. As a result, they get deeper and deeper into debt.
Overall, making money in the crypto world is easy, but holding onto it is tough. Many rely on luck to make money, only to lose it based on skill. So, before entering the crypto world, it's essential to think twice, not blindly follow the crowd, and definitely not borrow money to invest. ๐ค
Missed out on $PEPE , next opportunity is $FLOKI ๐
Here are a few key reasons:
Every time #Pepe pumps, #Floki follows suit. Pepe has already surpassed its previous all-time high since its first bottom pump. However, Floki is yet to reach its new high, but it looks like it's about to break through a critical resistance. Once it breaks through, new highs are imminent.
Floki recently burned around 1.5% of its total supply, which is a significant amount. Historically, every major burn in Floki has led to an uptrend.
The season of #altcoins is upon us, and memes are always among the top picks. Retail investors are no longer interested in VC coins. The narrative around value coins has faded, or you could say, value coins have lost their value. It's all about perceptionโif users see value in you, then you have value; if not, then you don't. Hence, meme coins are becoming more popular among users. ๐ถ๐ฅ
Three principles you need to know to ultimately profit in the #crypto market:
Many projects are meaningless: In the crypto space, there are thousands of projects, but not all of them are truly useful. Many have fancy covers with unbelievably ambitious plans that may never materialize. ๐ Before buying project tokens, ask yourself: Is this team real? Who are these people? What experience do they have?
Venture capitalists make money by investing in private rounds: Always remember, venture capitalists make money by investing in early-stage token seed rounds and private rounds. You might think you're getting in at a low price, but VCs get in at 20 times lower prices. ๐ฐ
Whale behavior is contrary to the market: Everyone's heard "buy fear, sell greed," but few can actually do it. That's what whales do. When everyone is panicking and selling in fear, they build their positions, so when greed sets in, they profit. ๐
Before buying project tokens, ponder:
Is their valuation reasonable? What problems does the project solve? Unlock activities Token distribution Ownership schedule
It's anticipated that there might be a pullback in #BTC prices. Here's how to navigate:
1๏ธโฃ Bitcoin's current price is strongly correlated with two factors: ETF inflows/outflows and the movements of the US stock market.
As shown in the chart, the net inflow of Bitcoin spot ETF was $108 million yesterday, marking the 9th consecutive day of net inflows. There are no signs of capital withdrawal yet. However, once inflows weaken again, it might trigger fluctuations or a downturn.
2๏ธโฃ Currently, Ethereum's potential is boosted by the 19b-4 filing for an #Ethereum spot ETF. Funds are expected to flow into ETH, leading to significant activity there. BTC might temporarily show weakness.
My strategy: Following the principle of symmetry, the first anticipated pullback range is between $64,500 and $66,000.
Regarding #altcoins , I'm currently holding a small position in AI, while most are still in the meme territory.
Check out the image below: it lists all Binance investments in projects yet to launch on the platform.
Here's why:
1๏ธโฃ Ethereum ETF is on the verge of approval, with final results expected by August. It's prime time to position yourself before then!
2๏ธโฃ While #BTC may hit new highs again, Ethereum is stealing the spotlight. With #ETH reaching all-time highs soon, it's taking the lead in the hype train.
3๏ธโฃ Insights from Binance Research Institute suggest a shift in token market dynamics. Valuation logic for high FDV tokens is evolving, with future market demand becoming key. Looks like undervalued projects are finding new support.
Now's the time to scout for undervalued gems or bet on underperforming value tracks.
The price push we have seen in the last few days is the outcome of your resilience and trust.
$ATOR : Bounce from Golden Pocket $DIONE : Breakout from wedge $OCTA : Bull Flag breakout $ORAI : retest of the neckline ( cup and handle )
If you are thinking that this is it then my friend you are wrong.
This is not it for these projects and also a lot of projects sit at the brink of a breakout right now ๐
$KAS big break possible above $13 cents. $INJ to push higher above $30 $TET run towards $1k after $420 $RNDR new highs above $13 $NAKA needs to push above $1.80
1. Always know where you will take Profits. This is why people lose all their Profits.
2. Clearly define your Stop Loss Exit, BEFORE you enter in case the trade turns bad.
3. If you're risking more than you stand to gain, you will lose all capital, eventually. Make this calculation for every trade.
4. Small Profits. Big Profits. Small Losses. No Big Loss, ever.
5. Higher Conviction needs Higher Position size.
6. Don't believe in averaging a loser.
7. Takes minimum 2 Cycles to make it. One to lose and Learn. Second to Win and Preserve.
8. Most people would rather get liquidated than miss the pump. Resist to hold leverages for the long term. Try being in Spot. Crypto already has a lot of volatility.
Nvidia's earning report and AI Altcoins merger are a few key events that can take this to next level
I am optimistic about these projects right now
๐ค$RNDR
๐ค$AKT
๐ค$PAAL
๐ค$INJ
๐ค$AIOZ
๐ค$ORAI
๐ค$TAO
๐ค$FET ( soon to be $ASI )
Nvidia's track record of outperforming expectations hints at the potential for altcoins to surge.
The merging of AI tokens amplifies this momentum, promising a landscape ripe for exponential growth.
But it's not just about big names, upcoming announcements from tech giants like Apple and Amazon signal widespread adoption and innovation in the AI space.
So, fasten your seatbelt and prepare to ride the wave of the AI boom into a future full with possibilities.