Adrian's DeFi Alpha #8: Choppy Market | Gud news | Aperture | IMX | Rabby
Definitely no financial advice, just insights based on my own journey in DeFi.
Hello there Friend,
Are you feeling the weight of the market's choppiness amidst your busy schedule? Let's dive into the gems of the crypto world together. I've been navigating the DeFi space since 2020, and I'm here to share some insights to make your journey smoother.
These are the advantages you'll find in each newsletter:
The latest developments in Crypto.
3 actionable insights to guide your decisions.
All in a concise 5-minute read. No fluff, no sponsored content. Just insights from my own experience in DeFi.
Let's make the most of your time!
Market Update
Highlighting the pivotal market movements and their implications.
Market Check: Where to Next?
Bitcoin took a dip down to $56.5k, but swiftly bounced back.
Recent price swings? Blame it on the BTC ETF flows, a reliable indicator backed by solid data.
Spot ETF flows:
May 1st: Record outflow of $563m
May 3rd: Inflow of $378m, even into the pricey Grayscale ETF
How do we know the dip's bottomed out? On-chain data shows whales buying up $3 billion or 47K $BTC. They're the big players with a pulse on the market.
What's the takeaway for your investment game plan? Track these patterns and stay informed. In my Telegram community, I lay out my market moves transparently, nailing the bottom for new buys. Check it out for yourself on Telegram
Stay Steady in the Storm
Don't sweat it. Corrections happen, but the long-term game is on. Remember, catalysts like Bitcoin Halving spark processes that keep running and take some time.
E-Beggers Getting Farmed
Ever heard of "e-beggers"? Coined by Starknet, it describes Airdrop Farmers. EigenLayer, one of 2024's most anticipated drops, initially disappointed with its tokenomics, allocating a meager 15% for stakedrops.
Note: EigenLayer Foundation later sweetened the deal, distributing an additional 100 $EIGEN to over 280,000 users.
Despite the hiccups, the airdrop game is evolving. Projects are innovating to grow Total Value Locked (TVL). But the old playbook's losing its charm. VCs have new demands, users are more clever, and regulations are tightening.
As a user, keep farming undiluted and under-the-radar projects. Check out DeFillama and Dropstab for the latest opportunities.
Key Developments
Shedding light on the recent significant developments within Crypto.
Tether's Q1 Performance:
Tether ($USDT) recently unveiled its Q1 results, showing remarkable growth and resilience. With an operational profit of $4.5 billion, a 55% surge from the previous quarter, Tether's dominance in the stablecoin arena remains unchallenged. The company's strategic diversification into areas like AI and Bitcoin should certainly be watched.
MicroStrategy's Identity Solution:
At the "MicroStrategy World" conference, Michael Saylor unveiled "MicroStrategy Orange," a novel identity protocol leveraging Bitcoin's Ordinals-Protocol. This innovative solution promises decentralized identifiers (DIDs) for individuals and businesses, opening doors to a new era of digital identity management. MicroStrategy's pivoted to Bitcoin-centric innovations. Michael Saylor is more than All-In.
Alpha Insights
Your blueprint for finding alpha in Crypto.
Alpha 1: Aperture Airdrop
Don't miss out on the Aperture Airdrop opportunity! Simply complete the Telegram, Discord, and Twitter tasks to earn POINTS. After that you swap, provide liquidity, rebalance and reinvest. Click here to get started.
If you don’t have funds on Manta Pacific yet, you can use Owlto Finance Bridge.
Alpha 2: IMX on Passport
Unlock the daily 3-gem bonus on Immutable's current quest by ensuring you have 20 IMX (zkEVM) on Passport.
Step-by-Step:
1) Go to https://toolkit.immutable.com/bridge/
2) Bridge at least 20 IMX (ETH) from L1 to IMX (zkEVM) on Passport
3) Claim 3 gems daily!
Alpha 3: Rabby Wallet
"Ethereum is too expensive for me" - not anymore. Rabby, my preferred Web3 wallet, now offers free transactions for the following chains IF you don’t have funds for gas on a certaain address:
Ethereum
Arbitrum
Optimism
Base
Avalanche
BNB Chain
Fantom
Polygon
ZetaChain
If you're still using MetaMask, you're missing out. The switch takes less than 2 minutes. Here’s my tutorial:
Install Rabby: Visit the Rabby website and download the wallet extension for your browser. It's compatible with major browsers like Chrome, Firefox, and Brave.
Set Up Your Wallet: Follow the on-screen instructions to set up your Rabby wallet. You'll create a secure password and receive a recovery seed phrase. Keep this phrase safe as it's crucial for wallet recovery.
Access Multiple Chains: Once your wallet is set up, explore the variety of supported chains including Ethereum, Arbitrum, Optimism, and more. Rabby offers seamless access to various blockchain networks.
Enjoy Free Transactions: Take advantage of Rabby's latest feature offering free transactions on supported chains. This can save you significant costs, especially on networks like Ethereum where transaction fees can be high.
Transfer Assets: Use Rabby to transfer assets between different chains effortlessly. Whether you're moving ETH from Ethereum to Polygon or tokens between any other supported chains, Rabby streamlines the process.
Earn Rabby Points:
Rabby offers points that may lead to rewards like an airdrop. Enter the code RABBYREF to start earning points. (You are gathering more points for an Airdrop and help me, too)
Interface Walkthrough:
Rabby's interface makes it easy to manage your crypto. You can top up gas for transactions directly through the wallet. The interface also allows you to view your transaction history.
Contract Simulations:
Rabby can simulate transactions to help you spot potential scams before you authorize them, enhancing your security.
Revoke Transactions:
Regularly review and revoke unnecessary transaction approvals via the wallet's interface to maintain security. This may incur a small gas fee but is advisable for safety.
Adrian's Premium Alpha:
Everything Adrian can’t share in the Public Newsletter: Portfolio Updates, Early Projects/Small Caps, Investment Theory
GM GM readers of Adrian’s Premium Alpha,
Holy Moly we made some great gains with AI x Crypto: With most altcoins down 40% and more from the highs, we saw a chance and took it.
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