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Crypto Whale Says He’s Preparing To ‘Buy Tears’ and Bet on Two Small-Cap Altcoins

by DailyhodlJune 13, 2021

One crypto whale says he’s getting ready to “buy tears” amid the ongoing correction in the markets as he bets big on two under-the-radar small-cap altcoins.

In a tweetstorm, the pseudonymous whale known as Crypto Messiah tells his 132,000 followers not to bother trying to buy bottoms and sell tops.

“You’ll never buy the bottom… and you’ll never sell the top.

Average in/out is the only way to do this. I’m extremely confident that we haven’t seen the last of ‘productive assets.’

I’m also extremely confident that this decentralized finance (DeFi) bear [market] won’t be extended.

I’m here to buy tears.”

Crypto Messiah says that he’s keeping an eye on the DeFi index, which is a weighted average of 25 of the biggest decentralized finance (DeFi) coins, similar to the S&P500 or Dow Jones index.

The whale says that once the DeFi index reaches a final support level down near 6,000, he’ll be looking to go long.

“Here’s my plan… whether it turns out to be a good plan or a bad plan is yet to be seen…

Watching FTX DeFiperp. When/if we get here… people will be in agony. I [will] buy.

Solid confluence between previous lows/bull trend line. 2 sigma below yearly vwap (Volume-weighted average price) – hoping for reversion.”

The crypto veteran goes on to reveal the only two low-cap altcoins he’s heavily investing when the sell-off takes place.

“Targets for blood buys are ALPHA/ROOK.

Nothing else.

Keeping it concentrated. Watching it closely.”

Alpha Finance (ALPHA) is an ecosystem of DeFi products that aim to address the limited availability of products outside the Ethereum network, as well as the lack of liquidity on decentralized exchanges (DEXs). At time of writing, ALPHA is trading at $0.58 according to CoinGecko.

KeeperDAO (ROOK) is a decentralized organization that provides liquidity to markets of smart-contract-based solutions. At time of writing, ROOK is trading at $148.67 according to CoinGecko.

As for Bitcoin, it appears Crypto Messiah is still bullish on the king cryptocurrency. Last week, in an episode of Delta-Fi, the analyst claimed that El Salvador would likely be the first domino to fall in a big trend of global Bitcoin adoption.

“It’s the first domino in a string of many disenfranchised nations and then maybe, other countries that are looking to reduce their reliance on US dollars. Coming in and saying like ‘Hey we want to go with Bitcoin. We want to go with a currency for our country that can’t be manipulated, that can’t be controlled…’

It is kind of an interesting situation because I hear that the IMF (International Monetary Fund) is meeting with the president of El Salvador soon, and there’s no way they’re going to be happy about that. So on the positive side of things, this could be like the shot heard around the world. I understand that the GDP (gross domestic product) of El Salvador is pretty much the same as the market cap of Dogecoin (DOGE), but at the same time, the fact that this has happened is huge, and several other nations that have been disenfranchised are following suit.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

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Overlooked Sector of Crypto Markets Is Ready for Lift-Off, Says Trader Tyler Swope

by DailyhodlApril 22, 2021

Crypto influencer Tyler Swope is shining a spotlight on three projects that are attempting to solve a crucial issue plaguing the Ethereum network.

Miner extractable value (MEV) is a hot topic among Ethereum developers, Swope tells his 228,000 subscribers. MEV is the value a miner, validator, sequencer or any privileged protocol user can garner from arbitrarily manipulating the settlement of transaction blocks on the blockchain.

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MEV profits can be scooped up by the trader or miner, but when the blocks are manipulated unconventionally, it can cause inefficiencies on the blockchain.

Swope points out that last Friday, during the ongoing Scaling Ethereum summit, MEV was mentioned several times as developers attempted to hash out solutions to the puzzling problem.

While Ethereum researchers have launched the Flashbots initiative to tackle the issue, Swope outlines some tokenized crypto projects that are also addressing the MEV crisis.

KeeperDao (ROOK) is the largest market cap play in the sector, sitting at just below a $200 million evaluation.

“KeeperDao is a protocol that economically incentives pool participation in Keeper strategies which manage liquidations, rebalances, and arbitrages on decentralized finance (DeFi) applications spanning trading, exchange and lending… The goal of this Dao is to align the goal of the Keepers and the users to maximize profits rather than that value being captured by the miners.

MEV is a big piece of KeeperDao, but the big development regarding MEV from them is their HidingBook. In their Github post they describe it, ‘The HidingBook is a backend infrastructure component of the Hiding Game which hosts hidden orders only fillable by KeeperDAO keepers. It also supports client friendly APIs which enable a smooth front end user experience.

Integrating a client with the HidingBook enables the client’s users to coordinate with KeeperDAO keepers for the capture of MEV (miner extractable value). This is a win-win because both users and keepers are working together to maximize profit generation from a trade the user was going to perform anyways.’”

The analyst and trader also notes that KeeperDao does not appear to be in direct competition with Flashbots and may in fact integrate with them in the future.

Next on Swope’s list is StakeDAO (SDT), which is currently sitting at around a $50 million market cap.

“StakeDao is a piece of staked capital. Their revenue sharing Dao tokenizes their services and distributes the value back to the holders. Their application, which houses the services just went live into version two and TVL (total value locked) was over $121 million as of yesterday.”

Swope notes that StakeDao may also be introducing v2 arbitrage solutions shortly, but it’s unclear when. The project may also be in direct competition with Flashbots, because Stake is partnered with the third project Swope mentions, ArcherDao (ARCH).

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Archer is a protocol for MEV extraction “just like Flashbots,” says Swope, noting that the project forked Flashbots, according to their Github.

ArcherDao is the smallest project by market cap that Swope mentions, resting at around a $34 million evaluation.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Tithi Luadthong

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Tagged : All News / Altcoins / Chico Crypto / Crypto / Ethereum / Mev / News / Rook / Tyler Swope

Alpha Drop: A Look at Polychain Capital’s Crypto Portfolio

by DailyhodlJanuary 30, 2021

Polychain Capital, a blockchain asset investment firm that backs projects at various stages of development, continues to add decentralized finance (DeFi) projects to its growing crypto portfolio.

Polychain has now invested in Series A and Series B funding rounds for decentralized margin trading platform dYdX. The platform raised $10 million in its Series B round, according to Coindesk.

Last month, crypto analyst and trader Tyler Swope predicted that dYdX may potentially launch its own token and execute an airdrop.

Polychain also invested in KeeperDAO’s (ROOK) recent seed funding round.

KeeperDAO is an on-chain liquidity underwriter that helps miners exact more profit from confirming transactions.

In addition to dYdX and KeeperDAO, the crypto venture firm has also invested in a long list of crypto assets and projects, according to Messari.

Bitcoin (BTC)

Ethereum (ETH)

Polkadot (DOT)

Tezos (XTZ)

Cosmos (ATOM)

Maker (MKR)

Compound (COMP)

Filecoin (FIL)

yearn.finance (YFI)

Avalanche (AVAX)

Zilliqa (ZIL)

0x (ZRX)

Celo (CELO)

Nervos Network (CKB)

Orchid (OXT)

In a recent interview, Polychain Capital portfolio manager Sherwin Dowlat peeled back the curtain on the firm’s investment strategy.

“I would categorize it as a holistic approach to investing and supporting the crypto ecosystem. It’s not just our liquid hedge fund that holds the coins there’s a lot more to it. It’s a pretty holistic overview of investing in the whole life cycle of these coins and the networks. We have everything from like a genesis, our incubator, which is super, super early stage. We help companies that’s just a founder and an idea.

To the venture arm which is kind of like seed and maybe aid stage investments all the way through to when they’re actually liquid coins trading out on the markets. And then we actually have pretty active staking. We actually support the networks with bootstrapping the staking when they launch. Tezos, Cosmos, Polkadot, these types of networks supporting them pretty natively.”

As for how Polychain decides to invest in liquid assets, Dowlat says that because they look for unique and undervalued projects that are solving important problems.

“When we invest in [assets], we hold them for quite a long time… When it’s adding them to the liquid portfolio, I think the most important thing that I actually think about when we’re chatting on how to weigh it or what to add or decrease our position size, it’s just knowing what time frame we’re on…

In the short term in crypto you have a lot of sentiment and narrative-driven movements which will either heavily discount something you could really like in the long term… So we have to go against a lot of those movements. It’s mostly just investing in networks that we otherwise couldn’t get… and solve for pretty big problems.”

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