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Crypto Coin recap

Whew, what a crazy month! With investor fears quelled, markets resumed their rallies, and withmultiple Bitcoin ETFs and doggy wars, the crypto market went to new all time highs. Let’s do aquick recap of some major coin movements and come back to the news, then we’ll dive intosome specific trends and projects.

(Note: these prices were taken at October 31th)

Ethereum (ETH): $4264, up 41.4%, Ethereum broke all time highs this month with relativelyless new Ethereum developments. A signal that we are back into a bull market, and it is likelyriding off the successes of SHIB and BTC for this period.

(All time highs, will it last?)

Bitcoin (BTC): $61k, up 38.9%, As we predicted last month, it was Bitcoin’s time to shine, withmultiple ETFs approved and news that shifted from supply based news to demand (and utilitybased) news, Bitcoin reached all time highs this month, before pulling back during optionsexpirations week. If you compare the mid month charts, BTC drove this month’s rally first, and

other coins followed soon after (including ETH), but now things have caught up, with ETHactually outperforming BTC this month

(Bitcoin leads the latest rally first before setting off alt season)

Shiba Inu (SHIB): $0.000065, up 800%, I had to include this for the month since it caused oneof the craziest crypto retail inflows I’ve ever seen. With rumors that SHIB would be listed onRobinhood, then bolstered by social media influencers trying to pump the price, even non-cryptopeople wanted to get in on the action. We saw SHIB pass DOGE to become the #9 ranked coinin market cap (it’s still there as of writing), and SHIB is up 84 MILLION % in the last year. Only incrypto. I don’t expect this to last but I’ve been proven wrong before.

Solana (SOL): $197, up 39%, SOL has recovered back to its all time highs after we took it offour Top 5 and it had fallen to $140. It’s back to what we think is the right valuation, however weknow there are many investors out there trying to offload this now, so the price action will likelybe pushed down on any major move up and normalize to $200.

Avalanche (AVAX): $63, down 5%, Fairly flat this month, but good data. We’re still studying theplaybook of moving a project to be Metamask/Ethereum compatible, then offering incentives. Itseems like when incentives started in August, the peak was in September and it hasn’t reallyrecovered since. We can now create a strategy for future incentive programs to roughly lastaround 2 months in terms of price action.

Terra (LUNA): $42.48, up 11%, LUNA rolled out a couple of launchpad projects this month androlled into the IBC ecosystem, allowing UST and LUNA to be traded on all Cosmos (ATOM)projects. Amazingly, our prediction of $50 to hit was extremely close, as LUNA hit all time highsof $49.70. There are some headwinds though, the SEC did in fact serve Do Kwon (the CEO),and he is now suing them back. If this market rally doesn’t end in November, I expect to see $70sometime in the next two months. I think LUNA is below where it should be.

Fantom (FTM): $2.65, up 120%, I wanted to include this one too, it rolled out new GameFi andNFT projects, and it’s been up every month since the incentive programs started in September.Let’s see if our thesis holds true that incentive programs boost price for two months and taperoff.

Algorand (ALGO): $1.84, up 13.3%, Despite entering our top 5, ALGO did not roll out anythingnew in October, if you participated in the yield farms though, OPUL was up 163% which wassomething I was staking, but YLDY is down 33% due to inflation (mostly in the last two days theprice has broken lower). I think we probably need to wait for more progress on ALGO, but I willcontinue holding it for the upcoming DeFi incentives.

Before we get into other projects, let’s deep dive into the news a bit

Relevant News of the Month

Markets bounce back

With Evergrande fears quelled, markets bounced back. Some earnings were disappointing, withApple’s new privacy features blocking ad revenue for some tech companies and Supply Chainissues knocking down other earnings, but overall the economy is still stronger than ever. Evenwith disappointing earnings...the stock market bounced back on any dip. If there’s any themehere, it’s that the stock market may be too big to fail, and that people always buy the dip. Whereelse are people going to put capital? The 10 year bond yield as of writing is only 1.55%, thatmeans even if you go with the safest hedge, you’ll still be losing 3.85% on your investment.Right now cash alone is losing 5.4% in inflation. So people are fleeing to other assets like stocksand crypto. How will this end? To be determined. However, remember eventually the Fed mayneed to raise interest rates which will help with inflation but also knock things down a notch(remember deflation causes prices to fall, that includes stocks).

Supply Chain and inflation issues dominate news (and earnings)

We’ve seen this coming, with a demand spike of people coming back into the economy, “just intime” manufacturing can’t produce enough goods and services for what is needed. Not only that,there are a lot of workers not coming back to the workforce (“the great resignation”) ishappening too and hiring workers has been very difficult for businesses. This caused prices tosurge, delays in shopping, and fears that the holiday season could get ugly. There are now morejobs available than the unemployed, so either wages need to go up or jobs need to get moredesirable for workers.

Crypto hits all time highs, again

As mentioned in the previous section, crypto hit new all time highs, boosted by the release ofmultiple Bitcoin ETFs. What is great though is that even outside of Bitcoin and Ethereum, ourtop projects we’ve mentioned here outperformed and hit new highs even without BTC and ETHmoving. It is a signal that good investors still exist in the space and are allocating money towhere there is progress. New money flowed in though, which moved BTC and ETH up. Checkmy Last Word section on where I think things are going

Doggy Coin Wars

Shiba Inu (SHIB) had rumors of launching on Robinhood this month, sending it to stratospherichighs. In a whopping 10 million % gain year over year, retail investment flooded in, sending it tothe #9 top market cap of crypto. It even surpassed DOGE and Polka Dot! Never underestimatethe retail investors, but at the same time, if you’re hearing everyone not in crypto talking aboutSHIB, it’s probably marking the top. The ceiling price may seem unlimited, but the possibility oflosing 90% on a trade is also much higher. In other news, a wallet was found to have spent $8kon SHIB last year, which would be worth $5.7B today, marking it as possibly the greatest tradeof all time. DOGE and SHIB continue fighting for their place in the top market caps(undeservedly in my opinion), and now other meme coins are pumping for people finding thenext SHIB. This includes ELON, FLOKI, SAMO, and SHIB ecosystem coins like LEASH. The listgoes on, social media is trying to create the next meme coin by sheer will, but that is dangerousfor retail investors who enter in late. We don’t like covering momentum trades here, but we dotry to bring projects early (we did an entire SHIB ecosystem section a long time ago already).

(Doggy coins are crazy)

Crazy fund raises

FTX raised $420,690,000, Celsius raised $400m, Axie raised $152m...

Meanwhile, crypto VCs have been raising record levels of money as well. Multicoin is going for a$250m fund, Pantera raised $369m, Polychain raised $230M, Jump Capital raised $350m, A16zeven had a $2.2B raise earlier this year.

These numbers are staggering. A single $100m raise a year ago would have been veryimpressive, now it’s the norm. It’s almost as if all crypto gains are just getting rotated into morefundraising...but that being said, there have been some really legitimate projects that have comeout this year. A few takeaways from this:

● These fund sizes will be very hard to have higher multiples than before● There will be a lot more crypto projects on the horizon, with so much funding available,

much more hiring will be happening in this space● Crypto valuations are way too high, maybe not on a per project basis, but in aggregate

some things will need to normalize in the future

Facebook changes to Meta

Facebook, or should we say, Meta, is back in the news. Meta is the new name for a parentcompany of services that include Facebook, Whatsapp, Instagram, and Oculus, but Novi, thecrypto wallet project, is going live in pilots across the world. It’s not likely Novi will be a big hitwith most governments, but it’s going to try and prove itself.

The other big piece of news was that NFTs will likely be a huge part of the Metaverse, whichmeans that it may be a buy low moment for NFTs. Twitter was the first to tag wallets to verifyprofile photos of NFTs, Meta is next, and soon 3D avatars and unique assets will be all over themetaverse. In addition, any virtual land or virtual world crypto project (MANA, TWD) will likelypop in the coming months as this concept becomes mainstream. One day VR headsets will benormal in every household, so think about how current crypto projects are positioned for thatworld. I’ll have more sections in future newsletters about this as it develops.

Polka Dot Crowd Loans have a date

Polka Dot has finally given a date for its first round of crowd loans and parachain auctions, thatis November 11th. Disclaimer: I hold DOT and plan to participate in the crowd loans.

During this week, a bunch of projects will allow users to lend DOT to their project and fight forone of the first 5 slots to go live on the DOT network. After 11/18, the rest of the projects willneed to fight for the next 5 slots at a later date. This has been a long time coming, and withmany of these tokens already being traded on the Ethereum chain, they can finally go live forreal.

A few major differences though with DOT vs. Kusama crowd loans:

● The holding period for DOT will be 2 years versus 1 year for KSM● There are already some investors/launchpads that have participated in these projects,

whereas KSM were mostly net new projects, this means possible selling pressure asvests open up

● Adding to the above point, some of these coins are already live, it’s not known whatvaluations those coins will be but they will likely sell off in anticipation of new supply

● These will be the “enterprise grade” versions of the Kusama counterparts, this is the realdeal now with Polka Dot going live, so there will be more effort making the DOT versionshigh adoption and up to date with features

To participate, here is a step by step guide:

1. You’ll need a DOT wallet, such as https://polkadot.js.org/extension/ , which can beinstalled on your chrome browser

2. Create an account on the wallet and you will use this on the DOT network to participate:

3. You’ll need the DOT coin, which can be purchased on exchanges like Coinbase Pro4. Next, withdraw DOT from the exchange to your created account, make sure it’s set to

DOT network5. Finally, you’ll be able to go to the crowd loan websites, and use this wallet with DOT to

participate in the crowd loans

As long as the DOT is sent to your wallet, then your wallet can interact with these crowd loans.I’ll touch base again in the news videos.

You’d then go to the websites offering up for auctions, and then register with your wallet. At alater date (11/11) you’d deposit your DOT to the project, and hope it wins one of the first 5 slots.

That being said, with over 100 projects fighting, I think there’s 2 worth talking about here as tonot dilute your ammo. You’re probably able to guess which two at this point…

Acala (ACA): The first major borrowing and DeFi hub for Polka Dot. The one downside is thatKarura (KAR), the KSM version of this, did not perform well. The product itself had good ideas,but were poorly executed. In my opinion, I do not think this will be as good as our next pick. Theother note is though, Acala will be giving lcDOT coins, which can be traded for DOT later. Thismeans it will give you your DOT back in the form of an “I owe you” token. The sneaky play hereis that these tokens will eventually be worth 1 DOT, so if they come out at a massive discount,then it may be worth buying that instead of ACA. We think ACA will have a fully diluted marketcap of $1B (higher than KAR’s $800M market cap).

You can join the waitlist here: https://acala.network/acala/join-acalaLater on, you will be able to contribute your DOT in exchange for ACALA tokens, and get yourDOT back by swapping the lcDOT tokens.

Acala is also backed by Coinbase, Pantera, and Polychain, so I think longer term it will still dovery well, and it is likely the #1 project on Polka Dot (even if the coin doesn’t give you goodreturns). The second pick though, is where I will likely buy a lot…

Moonbeam (GLMR): Moonbeam is going to bring EVM capabilities to Polka Dot. That meansthat on GLMR, most of the Ethereum apps you see out there right now will likely get replicatedand moved over. Judging by how well Moonriver (MOVR) did on Kusama, I think GLMR willlikely do very well. Maybe not a 10x, but a possible 2-3x. The one downside is that becauseeveryone saw how well GLMR did, we’re all thinking the same thing. When GLMR comes outthere will be a lot of yield farms that will pop up, so the sneaky play there is to just buy thosecoins right away, wait for them to go up from people farming, then sell those at a profit and exitthe ecosystem.

You can register for the crowd loan with your wallet here:https://crowdloan.moonbeam.foundation/ note, you’ll need to have VPN if in a non-supportedcountry. There will be a few steps here that they will do to gamify the whole process, but afteryou’ve registered, sit tight until 11/11 for the sale.

We believe Moonbeam will be worth a $5B market cap, which is a 20% premium overMoonriver, that gives this a lot of upside for those participating in the crowd loan (potentially).Again, not financial advice.

In summary: I’ll likely allocate a heavier amount (2 to 1) on GLMR versus ACALA, but even ifyou do not participate in the crowd loans, there are still some sneaky plays. Remember after

11/18, the need for DOT will go lower, so I’m guessing we see DOT go to $50 around 11/11, andthen drop back to $40 around 11/18. Also a lot of other crowd loans already have live coins, Iwill probably avoid those.

State of NFTs/GameFi

NFT marketplaces are going mainstream. FTX, Coinbase, Binance, and more will all have theirown NFT exchanges. However, in terms of transaction volume and prices, NFTs have taken abreather this month. The price floor, or the lowest price offered for every type of NFT, hasstarted going lower and lower. During the last few months, the top projects have gone from 5-10ETH floors to 2-7 ETH ranges now, and people are afraid to dump what they’ve bought formillions of dollars, causing a standoff in trading.

As you can see, volume, users, and transactions are all down, there is definitely NFT fatiguehappening right now. However this does not show volume from the new marketplaces. Onecould argue that because Ethereum is at an all time high, and that transaction fees are evenhigher, that it could be causing a barrier of entry, or that Doggy coin mania has sucked all the

capital and juice away from NFTs as people sell them for liquidity to dive into retail momentumtrading. Either way though, the data is concerning.

One big wild card though is Facebook/Meta’s announcement into dedicating its future to themetaverse, or a separate reality that people will work and live in. This vision is very much in linewith what NFTs and Gaming are all about. You have assets that represent something in anotherreality, but have scarcity and value. Maybe it’s a piece of art, or a character in a game, or anasset that can be used between different protocols, whatever the use case, NFTs will be a partof it in the Metaverse. You will likely see virtual world coins and NFTs shoot up in value in thecoming months, even as fatigue for jpegs starts calming down. Look for projects likeDecentraland (MANA) or TerraWorld (TWD) to have some sort of prominence coming up. We’llalso see NFT valuations reverse when people can start showing them off in the new virtualworlds (or when they become more mainstream).

In summary, we’re seeing a correction in NFT valuations. We used to think $10k was normal tobuy a jpeg file, now that’s coming down to a few thousand dollars. However, with Meta andTwitter starting to adopt NFTs, I am willing to predict that NFTs will become more prominent thancrypto in the next 5 years. As Virtual Reality becomes mainstream, people will be willing to buyavatars, add-ons, virtual furniture, but also be willing to pay top dollar for scarce items. Untilthen, we have to stay on top of what’s going on in this space because NFTs may be trendingtowards being undervalued.

Alright, I’ve said my personal piece on NFTs, so while static NFTs are going down due to lack ofnew ideas, GameFi is taking over the narrative as the next big thing.

Game Finance (GameFi) has been mentioned many times in our program. It’s where cryptoassets can be earned and spent in video games (sounds like...the virtual worlds right?). Insteadof stake to earn, we’ll see play to earn. People will play video games for money, like what AxieInfinity is doing.

Right now, my top 3 games are:

1. Star Atlas (ATLAS and POLIS), the space fighter game on Solana2. Genopets (GENE), the monster fighting game on Solana (Disclaimer, I am a seed round

investor for this project)3. Illuvium (ILV), the monster fighting game on Ethereum

As of now, the only way to participate here is buying ATLAS/POLIS or staking ILV, or buyingGenopet eggs at https://ftx.us/nfts/issuer/Genopet%20Eggs/25/1 which we mentioned in ournews channel when they were low. However, there are more than a dozen games coming outnext year, and our community member Jim has provided a 54 page document on how to playthose. You can find those in our NFT section on our program, rather than me adding 54 pagesto this document. Also, be sure to check out last month’s NFT/GameFi section where he has

detailed the quality of his work. A few more mentions I’ve recently acquired are CGG and SOUL,but I’ll leave Jim to give the details on those! Here’s another article from one of our communityadmins.

Decentralized Finance Panorama

Community admin article by Julio Cesar

Crypto evolution has brought a completely new landscape to global finance dynamics throughdecentralization. Since inception with Bitcoin bringing Peer-to-Peer decentralized electroniccash system blockchain technology in 2009, to Ethereum as a Next-Generation Smart Contractand Decentralized Application Platform in 2013/2015, to Defi Summer in 2020, to the beginningof Multichain iteration and NFT Gamification Universe starting 2021, cryptocurrencies haveshown a fiercely valuable blockspace full of resiliency and adaptability.

As a result of this, choosing the most appropriate strategy to financial growth in Crypto ain’teasy. Because we have so far day trading, BTC mining through Proof of Work, ETH miningthrough Proof of Stake, delegating L1 tokens to verified validators to earn more tokens, staking& yield farming, lending & borrowing, NFTs minting and GamiFi are just few of reachablestrategies in Crypto and DeFi. Considering diversification is key to managing risk and keeping agood sleep.

In this article we will have an introduction to Decentralized Finance strategies, through stakingand Yield farming as a way to hold and increase the amount of tokens long term. We will take alook at solid projects with great upside. This passive income strategy aims at two goals: savingtime and money paid in fees. However, let's first check some numbers and DeFi recent history.

The main catalyst for DeFi Summer was the liquidity mining program of COMP tokens launchedby Compound in May 2020.

( DeFi Market Cap growth last two years from 1.7B Jan 2020 to 150B Oct 2021, up 8,823%)

Decentralized Finance users started getting rewards for lending and borrowing interacting withCompound protocol https://compound.finance/governance/comp. They received extra incentivesin the form of COMP tokens, which created supply and borrow APYs for several tokens goingup drastically. It also created Governance, where users holding COMP could vote on proposedchanges to the protocol. This was something never seen before, which resulted in a whole newFinance model.

Furthermore, Yearn Finance came https://yearn.finance/, another major DeFi protocol createdby Andre Cronje alone as a Yield Farming optimiser able to switch between different lendingprotocols automatically, maximising DeFi possibilities. Afterwards, this new Finance paradigmplus high levels of DEX adoption at Ethereum Network made it the greatest place ever forDecentralized Finance interaction, which increased dramatically Network congestion, thereforeGas fees skyrocketed.

On the other hand, at the beginning of 2021, new networks came into play shifting landscapeand suddenly increasing adoption big time. Nowadays we have several options to interact withdifferent Networks with a whole multiverse of possibilities and opportunities popping out everymonth, every week.

As well as there are several hundreds of options, here I would focus on main protocolsnowadays classified in three different risk levels linked to overall coding security and a variety ofAnnual Percentage Yield (APY) ranges:

a. Low Risk, Low Reward, High Security (5-15% APY). Proof of Stake based Networksas Ethereum, Cardano, Solana, Polkadot, Terra, Avalanche, Algorand, Cosmos, InternetComputer, Mina, Harmony, Casper. Most of these Layer 1 networks have a high leveland greatly secured hard coding and validation decentralized process.

b. Medium Risk (20-60% APY). Layer 2 DeFi protocols built upon L1 networks. This typeof protocol brings innovation and outstanding finance services such as Maker, Curve,Uniswap, Aave, Sushi, Compound, Yearn Finance, Anchor, Mirror, APY Finance,Pangolin, Trader Joe. Anyway, several Finance protocols with lazy code and securityaudits have suffered hacks and exploits resulting in billion dollars losses this year only.

c. High Risk, High Reward, Not-Fully Audited Security (100->500%). L2 protocols withcrazy yields tend to be built upon high inflation levels, which usually results in pricevolatility and major price dips. Some of these protocols also get high yields from rewardsincentive programs aiming to increase adoption. This is an endless list of low MarketCap protocols being built in main blockchains.

It is recommended to diversify portfolio between different types of risk and Yield exposure tomanage risk choosing wisely price entry avoiding jumping into pumps. Here is a few interestingmoves for this month related to staking & Yield Farming:

a. Low Risk Layer 1 to pay attention this month is Casper Network. From listed Networksis most undervalued and has highest upside, today october 31st list price is $0.11,probably a good enter price might be between $0.08 - $0.10. Coinlist IDOs prices for 3options were $0.015 option 1, $0.02 option 2 and $0.03 option 3, which is only a 4-7x tocurrent price. Have in mind this is a long term play since Casper is under developmentand there’s no usable DeFi protocols built on top of it yet. I expect it to start deliveringDApps at the end of Q1 2021.

Here is a step by step on where to buy CSPR tokens and how to send it to Casper LabsSigner to interact with Casper Live and delegate your tokens to an approved validator.

1. Buy CSPR at Coinlist or Huobi2. Download CasperLabs Signer Chrome extension3. Create an account (wallet) at Casper Labs Signer either directly or using your

Ledger (supported since October 2021)4. Withdraw your CSPR tokens from exchange to CasperLabs signer account using

Public key address. If you are required to enter a ‘transfer id’, please set this to 0.Send first a small amount to check everything is in place. Casper transactionsare cheapest in the market, cost is 0.00001 CSPR. Once your wallet is fundedyou can then delegate your CSPR tokens.

5. You can sign into https://cspr.live/ and connect the wallet you created.6. Choose a validator from the list. Parameters for choosing are high performance

(100%) and low commission rate (1-5%). Take a look at validators with a nameand website, that way you could check validators performance and documents.

7. Delegate your CSPR tokens and start earning auto compounded yield witharound 11% APY.

Here is a complete guide on how to stake CSPR tokens from Ghost Staking Validator,https://ghoststaking.com/how-to-stake/

● Don’t forget to keep adding to Top 5 blockchain projects pointed by Jeff and delegatingtokens to their native networks. DCA on Luna, Solana, Avalanche, Cardano, Algorand isalways a good strategy.

b. Medium Risk Layer 2 DeFi protocols yield generation options go from liquidity mining,staking, farming, to lending and borrowing. In particular, greatest and safest options arebuilt in Ethereum Network, however, this year Gas fees skyrocketed to a point thatinteracting with a protocol to swap tokens > provide liquidity > and staking LP tokenscould cost around $300-$400 in transactions nowadays, crazy stuff. So, if you are a

large bags mover there’s huge opportunities providing liquidity at Uniswap to earn aportion of Pool transactions and staking LP tokens at protocols of your choice.

● This month APY Finance is finally launching their Yield farming automated protocol midNovember at https://apy.finance/

● If you are new to the program I highly recommend to start interacting with DeFi protocolsin cheaper networks such as Terra and Avalanche. Last 6 months have been definitive tothese two networks gaining traction in Decentralized Finance protocols integration. BothAave https://app.aave.com/ and Curve https://avax.curve.fi/ launched their protocols atAvalanche network, which makes it accessible to freely interact with it to learn aboutlending and borrowing dynamics. At Terra check Anchor https://anchorprotocol.com/ andMirror https://mirror.finance/

c. High Risk Layer 2 low Market Cap protocols to take a look this month are launchpadsbased on staking such as Avalaunch https://avalaunch.app/ at Avalanche network, Pylonhttps://www.pylon.money/ and Star Terra https://starterra.io/ at Terra network. Thislaunchpad mechanism to access IDOs comes with high returns but usually based onsmall allocations according native token staked amount.

Main goal of Decentralized Finance strategies is to add value long term through yield generationmanaging risk. Diversifying into different types of passive income creation keeps your portfoliohealthy.

Trading Corner: Buy vs. Stake

I’ve been asked a few times now, when is it better to buy vs. jump into a yield farm? Buying ismore simple, you get the coin in your wallet, then at some point when you’re ready to captureprofit (or avoid loss), you sell it back into another coin. When you do a yield farm (adding Coin A

with some ETH or USD so that people can trade on it), you’re doing it for some insane rate ofreturn (like 10,000% APR), however, it does not capture the price increase of the coin due toimpermanent loss (because the coin is tied up in a pool)

So how do you decide?

On one hand, if you just buy the coin and it goes up, you make way more profit. The coin couldalso fall in value though, and then you lose money.

On the other hand, if you stake it for a long time, you might get a ton of extra coins AND theoriginal holdings back. However you don’t get the maximized value of the coin if it goes up a lot.

Here’s what could happen too:

I buy coin A and see a pool for 10,000%, great! You stake 100 coins, and expect 1000 coinsafter a year right? Wrong, the yield starts falling, and then because of inflation, the coin pricestarts falling too because people are selling the minted coins back down. This causes your initialinvestment to fall lower as well.

Or in another scenario:

I buy coin B, stake it in a pool for 10,000%, and then the coin B shoots up like crazy in price.However, when I pull out of the pool, it’s worth the same as my initial value, because I had tosplit it up. I didn’t make a profit here.

These two scenarios happen all the time. It begs the question, why even stake? To help makethe decision, here is a life cycle of a coin with a big yield farm:

Phase A: The coin is released, most likely at a low market cap, people start buying it up to putinto yield farms. Coin price goes up.

Phase B: The yield farm is crazy, people are minting coins and buying more of the coin. Coinprices go up a lot more.

Phase C: People start taking profits on their yields, they sell the coin back to market. The coinstarts falling consistently over this long period.

Phase D: The yields stabilize to a reasonable amount. The coin price goes back up orstabilizes.

Phase E: Only in good long term projects, the coin will continue to rise up because it is actuallyuseful.

Notice in all these scenarios, buying in Phase A and B makes the most sense. Staking onlymakes sense in Phase D. That means that those 10,000% yields? It’s not a good time to stakethere unless two scenarios:

● You’re willing to hold until you’ve made back your initial deposit, which could take a verylong time, and you’ll experience Phase C pain

● You’ve put into a yield farm where both assets will go up in value, that way there is nopenalty to withdraw as you will be making money in all phases (usually long termprojects that pair with ETH or other good trajectory coins are good for this)

● You are hedging your bets, you think markets look shaky, so you put into a yield farm topark money in to make yields while you wait for the next move. These are slightlyshielded from volatility as they don’t rise or drop as much as the coin itself, but don’texpect to make money from the coin itself moving up.

Oh and if it’s a single asset staking pool, meaning you can just deposit Coin A for yield, thenthe only thing you need to look out for are the transaction fees. Most likely, ETH is too expensiveto do this, but other networks it’s almost a no brainer if you want to earn yield while holding thecoin.

In summary: Not financial advice, but judging by these patterns, buy and hold coins in PhaseA, sell in Phase B. Avoid Phase C like the plague unless you’re holding a long time for recovery.Stake in Phase D in normalization period (a good example is MATIC/ETH pairing, where bothare going up together). From what I’ve seen, almost every project that comes out with a yieldfarm follows this same pattern. If the project is truly good, it will have a Phase E where it willkeep going up in price, where both staking or holding is fine. Also, it’s sometimes an excellentbuy low opportunity in Phase C if the coin gets dumped to oblivion, but those are very difficult todetermine.

Olympus DAO (OHM) infinite yield

Olympus DAO (OHM) has been around for a while, but has recently caused a big stir since ithas been providing unreal gains in yields AND coin price. It seems like whoever buys OHM and

stakes it has been minting money like crazy, all they have to do is buy OHM off Uniswap orSushi and then stake at https://app.olympusdao.finance/#/dashboard, for every 1 OHM youbought, you could have 8000 OHM in a year:

So there is high inflation, great, so what is the purpose of OHM? Well OHM says they are astablecoin, backed 1:1 to $1. They’ll buy up OHM when it’s less than $1, and they’ll sell OHMwhen it’s above $1. So at the end of the day, OHM should be worth around $1 right? That wouldbe true but given the high inflation, the market is willing to pay higher than $1 per OHM. So howmuch higher…?

(Currently OHM is $1200)

Much higher. The market is willing to pay 1200x of a dollar in order to earn back 8000% inyields. That means people are staking enough OHM and willing to take the hit to the price in thelong run before time runs out. The protocol itself knows this, it sees that people are overpayingfor OHM, so what does it do? It increases the yield to mint more supply to drop the price. You’dthink that with higher supply, the price goes lower right? Well, it seems to be the oppositehappening here. Because of the high yield, more people want to buy in, and the price keepsgoing higher. This can’t end well.

There is also the ability to “mint” OHM by bonding stablecoins or FRAX, once these coins (oreven the pools) are offered, it provides even more backing for OHM to keep paying out theseyields. Then in return, people likely stake this OHM back to the protocol for yields. In fact, morethan 90% of the supply of OHM is being staked.

At the end of the day, this is a huge experiment, one that has yet to fail so far. The only way thisbreaks is if a large number of people sell their OHM, which would cause the price of OHM to fallbut in theory, because less people are staking, yields rise again. How is this sustainable? Thefact that this is still working has me very surprised. There seems to be very few scenarios whereyields come back down to a reasonable level, which is why it’s still performing so well.

Why am I only bringing up OHM now? Because it is now being copied on every chain:

1. Rome DAO (MOVR) https://twitter.com/romedaofinance2. Otter Clam (MATIC) https://twitter.com/otterclam3. White Whale (LUNA) https://twitter.com/WhiteWhaleTerra4. Giza DAO (FTM) https://twitter.com/GizaDao5. Trident DAO (ONE) https://twitter.com/TridentDAO6. Squid DAO (ETH) https://twitter.com/SquidDao7. Temple DAO (ETH) https://twitter.com/templedao8. Se7en (ONE) https://twitter.com/8ight_defi9. Leserve (LUNA) https://twitter.com/leservedao?s=2110. Exodia (FTM) https://twitter.com/EXODIAFinance

With the latest popular one being Wonderland (TIME), which is on Avalanche (AVAX) and isstarting to show some cracks in its price:

(Will this drop be the last? Or just the 2nd and bounce?)

TIME is tradeable on Trader Joe and is currently running a whopping 69,023% APY with $745mTotal Value Locked. This is absolutely bonkers. To give any sort of price projection here isimpossible, but all I know is that I am not touching this. It’s going to be very interesting to seethis play out, and people who have come in early have been rewarded, but this is too fishy forme to touch.

Note at the time of writing Anubis DAO “lost” their funds, so be careful on this trendhttps://www.theblockcrypto.com/post/122529/crypto-fork-uses-dog-meme-to-raise-60-million-then-the-money-goes-missing

I wouldn’t be surprised if there are more cash grabs around this with other anonymousdevelopers.

In summary: At the end of the day, I think this is a massive ponzi scheme that will not end well.The returns are absolutely unsustainable, but so far it has proven me wrong. If there is asneaky play in here, it’s to get in early on the list I have above as they go live on the otherchains or when there is a massive drop in prices, but know that the price is going to swing likecrazy. I’m personally avoiding this whole thing, but it’s my job to inform and come up withstrategies in this crazy market. This could be crazy profitable, or the opposite if you get greedy.Game theory researchers will use this in their textbooks in the future (the 3,3 symbol is actuallyrepresentative of a game theory principle). We may see OHM touch $2k before plummetingback to $100 in the next few months.

Do Incentive programs still work?

Last month, we talked about the success of Avalanche (AVAX), Fantom (FTM) going upmultiples higher as a result of creating incentive programs for their projects. Later Harmony(ONE) would follow suit with a similar strategy (and outcome). Incentive programs are similar toairdrops, where you give out free money but instead of just “dropping” the coins into your wallet,they make you stake or participate in the network to earn increased yields on their products.

We also talked about announcements from Algorand (ALGO) and Hashgraph (HBAR) on theirupcoming incentive programs, but have yet to go live.

So now it’s a thing, a lot of previously forgotten projects are now copying this same strategy tooffer free money in order to boost its usage. After all, a $5B project only needs to go up 10% tofund $500M worth of incentives, it’s basically a free marketing campaign.

This month NEAR Protocol (NEAR) announced a whopping $800M incentive program, whichone could argue has not been fully priced yet, NEAR has steadily gone up with the bull market,but not to the parabolic degree that AVAX and FTM behaved. We think NEAR can go to $10Bmarket cap when these incentives go live. At the current price of $11, that means (with inflation),we are looking for a price target around $14

Tron (TRX) later followed suit, it announced a $1.1B to steal the marketing spotlight away, butstill, no activity on TRX price itself.

What’s starting to appear is that incentive programs do seem to work, but only if they actually golive. It may seem like a slight risk to jump in early on some of these projects, particularly withmore immediate things like the crowd loans coming up, but if you know down the line things arecoming and you have the capital, these are not terrible places to be positioned.

In summary: You can position yourself in a few positions for when incentive programs go live,ALGO (would be nice to get under $1.50 but $1.80 seems to be solid support), HBAR (under 35cents), NEAR (under $10) are good contenders for this since their underlying technology isgood. This play could take a few months though, since it requires their DeFi products to be liveand generate the demand for their coins. Disclaimer: RocketFuel was an early investor to ALGOand holds it

Terra (LUNA) keeps rolling

There’s 160 Terra (LUNA) projects coming in the next year, so we’ll take these sections monthby month. Terra had a whirlwind October. First, Do Kwon, CEO of Terra, got subpoenaed by theSEC around securities inquiries on Mirror Protocol (MIR), then Do Kwon sued the SEC. DoKwon argues that they have no jurisdiction, and that serving him in a public setting was illegal.

Alright, with that news out of the way, it’s probably obvious by now but Terra (LUNA) is one ofour favorite projects right now. This past month quite a few awesome things happened.

The first thing was the LUNA’s Columbus-5 update finally bridged over to Cosmo (ATOM) andtheir ecosystem. Here’s a quick tutorial on how to use LUNA with ATOM:

1. For ATOM you are likely using the Keplr wallet, which stores your ATOM, but in yourKeplr wallet, you can now select Terra from the dropdown which will give you a Terrawallet to send coins to.

2. Then you can use your Terra station wallet to transfer LUNA over to your Keplr wallet.The address will be shown on Keplr

3. Now you can go to any IBC project like Osmosis (https://app.osmosis.zone/assets), anddeposit LUNA or UST here!

(LUNA and UST are now assets on Osmosis, and all other IBC projects)

So if you were able to make it this far, you’ll now be able to participate in yield farms and otherDeFi projects on ATOM. There is actually a LUNA/OSMO pool that is offering 180% which ispretty neat: https://app.osmosis.zone/pool/561 To participate:

1. Click on Add / Remove Liquidity on top2. Then add 50% of LUNA and 50% of OSMO into the total holding and click “Add Liquidity”3. Finally, click on “Start Earning” and stake these, I personally don’t like the 14 days

unbonding, that is an eternity in crypto

(Rewards to lock your coins longer, this is after you unstake, remember)

Now the ATOM ecosystem has a stablecoin (UST) and is interconnected with all the projectsthere that will now focus on DeFi. Look for more ATOM news this month!

Other than LUNA and ATOM, other stuff came out as well

StarTerra (STT, https://app.starterra.io/) had some interesting coin sales where the coin wasactually already out, but it was selling at a 90% discount. These sold out very fast, and requiredusers to enter a lottery to get allocation. We had LOOP and Terra Land go first, and in thecoming months we’ll have StarTerra (STT) and Orion Money (ORN). This is very strange, it’salmost like an airdrop to get people fighting for existing projects, which hasn’t really been donebefore. The steps to get projects are on the website, but it includes grabbing some STT tostake.

Pylon (MINE, https://gateway.pylon.money/) is going with the more traditional coin sale, eitheryou stake UST to earn interest in the new coin, or you can try swapping for it at a fixed price. Interms of swapping, I’ve not had any luck getting in any of the sales. We saw Nexus (PSI) andValkyrie (VKR) launch this month on Pylon, with Orion (ORN) coming by the time you read thisnewsletter. ORN looks really good, I think that one is something to try and get, whether it’s Pylonor StarTerra. In Pylon’s case, you’ll need MINE to stake, and they will soon be doing a weightedday average to prevent people from buying right before and dumping MINE right after.

Spectrum Protocol (SPEC) also launched and has been looking like a promising yield farm. Onhttps://terra.spec.finance/vaults you provide liquidity (two coins so people can trade), and thenearn yield on that pairing. SPEC has a bit of a misleading yield though as it has some insanenumbers. While the average pair is 50% yield, some newer coins like TWD are 480% and VKR30,000%, though I tried these and it didn’t look like a good idea since the underlying coins werelosing value.

(Some insane yields here)

By the way, SPEC looks like it’s bottoming out at $3.63, it could be a buying opportunity hereafter falling from $10. SPEC can be traded at https://app.terraswap.io/

Wormhole supports Terra now as well, which means you can transfer assets from LUNA toSOL, ETH, and BSC (soon MATIC):

(Will we see UST on Solana?)

Finally, next month, there is a major coin burn of 10% of all LUNA. This will be used to fund anew supply of UST to be used in other ecosystems (mainly Ozone, their new insurance

product), but consequently it may cause a big shock to the price of LUNA upward. In terms ofcrypto projects creating a comprehensive ecosystem, Terra is probably at the top of the list rightnow. It is deploying projects on all cylinders, and it has a ton of interesting smaller projectscoming up as well. Not only that, coming from South Korea, there is a higher adoption rate onthe consumer front for when LUNA decides to roll out those products. I’m very optimistic aboutLUNA. So optimistic that I have joined a new fund that is helping ecosystem projects there,Lunatic Capital. They have even given me an email (jeff@lunaticcapital.com) there as well.

In summary: LUNA hit our short term price target of $50 (ok I was off by 30 cents, it was$49.70), but we think this should be a $50B market cap coin in today’s market. That makes itvalued closer to $150 in the long run. That being said, we have a lot of deflationary actioncoming up, so we are likely to see more price action in the month of November to $70. Barring amajor market correction of course.

A New Wallet Standard? XDEFI

One of the major issues in crypto is the need to fiddle through a bunch of different hardwarekeys, chrome extensions, and wallet apps to work with the different networks. MetaMask hasbeen the standard, working with AVAX, BSC, MATIC, and more, however, it is only EVM(Ethereum smart contract standard) compatible, making it not work with DOT, SOL, ATOM, andLUNA’s networks. Just listing these out makes me wonder how to keep track of everything.

Enter XDEFI, a new wallet from Delphi digital, that is compatible with all these networks (9 total):

.

Now instead of switching to each of your chrome extensions or hardware wallets, you’ll just beable to use XDEFI. In terms of getting in early on something though, there is a token coming outfor this. You can still join if you have a high “chad score” at https://thorchads.com/launch/xdefi ,but otherwise more information on their token sale can be found here:https://xdefi-io.medium.com/participating-in-the-xdefi-ido-124c838a6624

In terms of what the token does, it has 4 features:

● Staking - Staking enables discounts on trading fees, you’ll earn a rebate version ofXDEFI which is the fee on the trades through the wallet

● Governance - Where you can earn a % of fees, and I assume voting rights● Building - Where the token will fund project that work with the wallet● Play to Learn - To incentivize people to learn and use their wallet

In summary: I think this was a pretty lukewarm rollout and announcement. On one hand, I thinkit’s a necessary product, on the other hand, it’s pretty late into the crypto game. I’m still on thefence as to whether I want to switch everything over. However, if there is a token, and if there isa chance this becomes as big as MetaMask, then this is something to definitely be aware of andget ahead of the curve on.

Oasis is back on the menu

We’ve talked about Oasis (ROSE) a long time ago, as RocketFuel was an early round investor,and since then it has been in quiet build mode for a few years. As a recap, Oasis is a privacyblockchain, which keeps the smart contract and personal data hidden from the decentralizednodes. This makes it a better infrastructure for code that is proprietary, or data that is personalsuch as medical data use cases.

However in recent months, a few other privacy preserving blockchains have also come out, fromSecret, which has recently hit all time highs, to a future project Panther, which is having its coinsale now, all claiming to do the same thing in different ways. Oasis has now decided to changefrom data use cases to DeFi, and to prepare it has created Oasis Emerald, an EVM (Ethereumcompatible) chain that can use existing code bases for the projects on Ethereum. If you thinkback at other projects, Avalanche, Harmony, and lately Moonriver have all gone with thisstrategy, creating projects that work with MetaMask, and then creating bridges that allow you tosend assets to and from each chain.

In all those cases, they were strong layer 1 projects that only gained traction because theyadded MetaMask compatibility and high earning yield farms. People who have made a lot ofmoney love rotating their coins to get yield elsewhere. This sent their valuations through theroof. The first project coming out soon is called Yuzu, which will be a decentralized tradingplatform built by the Oasis Community. You can be sure an Oasis bridge will come out, alongwith compatibility with MetaMask, then a slew of new DeFi farms and incentive programs. Asusual, we’re trying to get ahead of a trend here, so this may take several months to materialize.Disclaimer: RocketFuel was an early investor in Oasis and has tokens.

In summary: Oasis (ROSE) is setting itself up for DeFi action, after it is EVM compatible, it’llwork with MetaMask, and then when Yuzu comes out you’ll likely see a bunch of Oasis coinsand yield farms come out next. It’s the same playbook as Avalanche, Harmony, and Moonriver,but having DeFi incentives is not yet known. We think under 18 cents is good, but a big tip isthat investor funds are being released late November, and that 15 cents might even hit.Afterwards, we are looking for an $0.60 price target, or 6B market cap with today’s valuations.

Interesting crypto trends

There was a lot of stuff I wanted to cover in this newsletter but it was going to get too long toread for some, so I’ve decided to condense the next section to be more valuable and less timeconsuming. Here are a few more trends that I’ve noticed at a high level.

Getting rid of bridges: We covered a lot about annoying features in the crypto space, forexample, having too many wallets and chrome extensions are trying to get addressed byXDEFI, but one thing that still annoys me are the need to keep using bridges so that I can usecoins on different networks. OpenOcean (OOE) is soon coming out with the ability to tradebetween chains directly from its aggregation screen. I think their coin is pretty undervalued forthe vision they have, the big catch is that they have a very laggy interface which I am helpingthem try to resolve. The coin is 63 cents right now, and I think it’s going to $2 after their crosschain swaps go online. Disclaimer: I am an early investor on this project. You can check outtheir interface here: https://openocean.finance/pro

Cross chain swaps with synthetic assets: ThorChain (RUNE) has been really good atallowing Bitcoin and other hard assets being tradeable across different networks, the big catchis it’s been hacked multiple times. One thing that might not be on anyone’s radar is that it’sgoing to release ThorSwap soon, which will decentralize the assets on it as well as making themwork across different chains (we’ll see about this). For more information check out the IDO here:https://blog.thorstarter.org/thorswap-ido-date-and-guide-november-1st-1acdf595b199 I thinkRUNE also should be a $20 coin if it builds out this ecosystem correctly.

Gamification of IDOs is becoming the norm: StarTerra, Moonbeam, Panther on Coinamp,and soon Valkyrie are all taking advantage of making users more valuable during the sign upprocess in coin sales. There are “tasks” users can accomplish, like retweeting or giving referrallinks. Basically, I’m noticing coin sales are having better marketing and also being gamified toenhance the experience.

Retail investors are back: When Coinbase is the #1 app in the app store and non-cryptopeople ask me about SHIB, I know we have just had an influx of retail money into the crypto

ecosystem. Typically when this happens, there is some major correction, since a lot of latemoney is here. Just remember one of my previous trading corner lessons, if there is no one elseleft to buy, that is usually a good time to take some stuff off the table.

Layer 1 protocols are still the safer bets: If you look at the top 50 coins, remove the memecoins, and focus on what the trend is, it’s that most coins are the layer 1, or the coins runningthe infrastructure. If the market moves up, layer 1 projects are safer to hold than applicationcoins.

GameFi is exploding now: Just as we predicted, gaming is becoming a more and moreimportant part of crypto. It brings new users in, has real life utility, but also changes the “workhard to make yield”, to “play games and have fun to make yield”. This is going to be huge in2022. We will see playing games to earn money as a job profession become normal

Initial Litigation Offering: What if you could do a crowd loan to fund a lawsuit, and then spreadthe winnings to all the participants? Enter what I think is the first public Initial Litigation Offerings: https://www.theblockcrypto.com/post/122044/first-tokenized-lawsuit-fund-goes-live-on-republic-will-distribute-on-avalancheAnother innovative idea in crypto, and quite a gamble, if the lawsuit doesn’t go well, then it’s lostmoney (just like a bad coin launch?), or 80% back if dismissal, or 2-3x back for a win.

Magic internet money: No I’m not making a joke, there is literally a new type of stablecoincalled this MIM, which is allowing interest bearing assets (like xSushi, or yvUSDC) backing it tobe collateral. Check out the SPELL token, which is behind https://abracadabra.money/ thatkeeps going up

State of Stake

Here’s a few pools I’m looking at with good projects and great yields. Note, if I list twoassets here, it means you need each asset, both equally valued in dollar amount.Otherwise for single asset staking all it needs is for you to deposit it into the website.

Reminder for two asset pool staking steps:

1. Buy each asset in equal value2. Go to the “pool” tab of a yield farm, select each asset and add it to the pool3. Add liquidity, and get the LP token that represents your ownership of this pairing4. Deposit this LP token in the correct pool on the “yield” tab (varies by name on

different projects) - earn money

Alright, here’s some good ones for this month:

Spectrum Protocol has a VKR farm with huge yields at https://terra.spec.finance/vaults - SpecFinance has been rolling out auto-compounding vaults that have had really high annual yields,however, it means you really need to park there for those insane numbers to happen. I wouldwait for VKR price to stabilize before buying it

Osmosis (OSMO) now has LUNA staking! This beats out some of the other LUNA farms at180% yield, and can be found here: https://app.osmosis.zone/pool/561 Note: you’ll need a Keplrwallet as well as ATOM, see steps in LUNA section above for more detail.

Illuvium (ILV) as GameFi ramps up, there is a great pool athttps://staking.illuvium.io/staking/core which has both an ILV single stake option for 45%or a Sushi LP option for 400%. The catch? ETH costs a lot to stake (around $100) eachtime you deposit and withdraw. You can also set a lock up period to earn more.

Yieldly (YLDY) is the only good ALGO farm so far: https://app.yieldly.finance/ If you aregambling on the ALGO ecosystem, this is a good single staking pool to earn YDLY andALGO (and some NFT and lottery games as well). The one catch is that YLDY seems tobe in inflationary mode and is dropping due to all the rewards.

(Older projects from before)

If you’re risk averse, you can stake stablecoins at Anchor protocol (20%) if you haveUST, or other stablecoins at Orion Money: https://app.orion.money/ (13.5-16.5%). Youcan also stake the UST-OSMO pool, but it does have partial risk of OSMO going down:https://app.osmosis.zone/pool/560 the yield is quite high though (200%)

Terra (LUNA) - As usual, staking LUNA gets you some airdrops and soon a portion ofall fees. You will also want to collect the MINE, MIR and ANC airdrops as well of coursewhich is standard with LUNA’s staking: https://station.terra.money/staking - here’s amap of upcoming airdrops as well:

Cosmos (ATOM) - If you don’t want to do the OSMO pools, you can stake ATOM to earnairdrops like LUNA is doing as well: https://wallet.keplr.app/#/cosmoshub/stake

You can still stake your coins at your exchanges like Binance, Kraken, Coinbase,Voyager and so on, but likely they are just doing similar yield farming and taking apercentage.

Calendar of Events

ThorSwap IDO - November 1st - ThorChain (RUNE) is having a coin sale by the time you getthis newsletter. It’s a decentralized exchange that will work across multiple chains, similar towhat RUNE is already doing but with more decentralized assets on it instead of RUNE assets.More information here:https://blog.thorstarter.org/thorswap-ido-date-and-guide-november-1st-1acdf595b199

Orion Money Pylon Pool - November 1st - You will be able to deposit UST to earn ORION(the lending vehicle of Terra), the earlier the better, you’ll get your UST back after the period youselect. The sale will go live here: https://gateway.pylon.money/

Terra (LUNA) Coin burn - November 10th - Terra will burn 90M LUNA to mint UST for Ozone,this will be an insurance product sitting on LUNA. The bigger implication here is that LUNA’sprice may spike up due to the shock in supply.

Polka Dot (DOT) - November 11th - Parachain auctions begin! Check the above section formore info, you’ll know we like Moonbeam and Acala.

Genopets Token Sale (GENE) - October 31 to November 16 - One of my top GameFi projectsis having its token sale starting now. You’ll need to register and do KYC, as well as stake IDIAhttps://medium.com/impossiblefinance/the-impossible-finance-ido-6-genopets-token-sale-86302de7d266 - with a cap of $360k, I’m guessing this is easily going to pop on the opening, from 80cents to $5+. Another way to play this is to buy Genopet Eggs at ftx.us:https://ftx.us/nfts/issuer/Genopet%20Eggs/25/1Note: I am a seed round investor in this project

Panther ICO - ends November 22nd - As mentioned in our referral games section, Panther’sprivacy focused project is having a gamified sale athttps://coinamp.io/project/98dee324-dd30-4de7-9e1c-70b150d7efec

Boba Network (BOBA) airdrop - BOBA will take a snapshot of holders of OMG coin Nov12-19, which will be an upcoming layer 2 trading platform. As usual, there is a sneaky play,which is simply buying OMG coin and selling it before the airdrop happens. After all, you don’twant to be the one dumped on holding onto OMG, but there will be increased buying activity forit leading up to the airdrop

Alogrand (ALGO), Hashgraph (HBAR), and NEAR (NEAR) incentives are coming soon, sojust keep a look out or position yourself ahead of time

The Last Word

The current crypto market cap as of typing is $2.7T, blasting past the all time high in May. Whenyou look at that from afar, it looks extremely concerning. Remember when we were amazed thatcrypto surpassed $1T? However, this number has also been reflected in inflation, because otherasset values have also gone up like crazy. Now $2.7T is almost the same market cap as Appleor Microsoft.

If you look at it that way, that means the entire crypto economy is still only worth 1 largecompany in one sector. It’s not a statement to avoid saying it’s overvalued, but it’s factoring inthat we can’t just look at crypto in isolation. The valuation is pretty normalized compared toother investment options with how everything is at all time highs.

We’ve hit another retail injection of capital, which means that valuations are getting wild andhard to predict. Another note is, this feels a lot like 2018, we had two major things happen, onewas retail mania, the other was a crazy amount of fundraising. The difference here though isthat there is actual progress being made and live applications being launched, the market cap in2018? $850B, or less than ⅓ of where we are today.

I think we’re appropriately valued compared with other investment options, but the doggy coinmania or the OHM/DAO trend may cause several billions to be printed that get dumped onto themarket. I really hope the next major correction isn’t due to one of those two things, but it is themost likely. The other elephant in the room is how the Fed will handle inflation (raising rates) orregulatory requirements with crypto. Both of these are expected to take things down a notch.

Alright, now that I’ve brought us all back to reality, what I said last month about being the mostexcited ever about crypto still held through this month, validated by the new all time highs. WhatI’ll be looking forward to in the coming months though, are actual adoption, usage, and utility. Oranother way to put it, I want to invest and educate people about projects with real value.

In the coming month, the top 5 projects I’ll be watching are:

1. Terra (LUNA) - The momentum is so strong with LUNA, with several new projectscoming and a major 10% coin burn soon. At below $40 it is undervalued, and we’reprojecting $70 this month after the coin burn barring a major correction. Our longer termtarget remains $100.

2. Polka Dot (DOT) - Parachain auctions happen 11/11, we should see DOT $50 by then,however, after 11/18 I think DOT will fall back to $40 as people wait for the next set ofauctions to happen. I do think anything under $40 is a good value for this pre November18th

3. ThorChain (RUNE) - With its upcoming Thorswap sale, partnership with XDEFI to selltheir token, I like projects that make a lot of forward momentum, I think it’s about time forRUNE to go back to $20, assuming it doesn’t get hacked again. It’s currently at $13which I think is undervalued.

4. Ethereum (ETH) - Even with relatively little ETH development in the last month, you cansee that it goes where the market goes, having this in your portfolio is like having anindex of all things in crypto. Our mid-2022 goal is still $10,000, but next month we wantto see this trend towards $5,000, just remember this one moves slower than the rest dueto its large market cap.

5. Oasis (ROSE) - Speaking of forward progress, ROSE is finally rolling out a DeFiprogram. With knowledge that there will be a supply spike in late November, it’s a goodtime to enter when the price gets suppressed. Currently at 18 cents, we think it will dropbelow 15 cents in November and after DeFi products come out it should head towards60 cents.

Also don’t sleep on the GameFi playbook, the 54 page document will have a lot of details there,it’s a treasure trove of what’s coming in crypto. Whew, what a month! Good luck out there and I’llsee you later in the videos.

Thanks,

Jeff Wang

DISCLAIMER: Investment in cryptocurrencies and tokens can involve greater risk than isgenerally associated with an investment in traditional securities such as publicly tradedstocks and bonds, and can potentially result in significant capital losses. It is ultimately theinvestor’s responsibility to understand the risks of each investment and the appropriatenessof a given investment relative to their own investment horizon and risk profile.Terms of Service: https://www.rocketfuelcrypto.com/terms1