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HEALTH, WEALTH, AND HAPPINESS |
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| "If you can't hold, you won't be rich."
- Changpeng ("C.Z.") Zhao, CEO, Binance |
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| New Crypto Staking Opportunities on Binance! For those interested in staking (i.e., earning interest) on your crypto investments, one of the easiest staking platforms is Binance, which is now offering attractive yields of 5% or more.
To earn staking rewards (i.e., interest) on your crypto, you'll need to own specific tokens, which are not necessarily prime investment opportunities. (If you earn 15% APY but lose 30% on the value of the token, that's a net loss of -15%).
One opportunity we like is Binance's own BNB token, which we've rated highly (download the BNB Investor Scorecard), and included in the Future Winners Portfolio. U.S. users can currently earn 6.40% APY by staking your BNB on Binance: more here.
(And if you're new to staking, read our Guide to Staking Coins.) |
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| Tether Cedes Territory to Rival Stablecoins (Wall Street Journal): The smoke is clearing from the great "stablecoin shakeout" last month, and Tether is slowly losing market share to competitors like USDC and Binance USD.
Investor Takeaway: Tether still remains the leading stablecoin by market capitalization, but we've predicted that investors will ultimately want to know their stablecoin is backed up by "money in the bank," which other stablecoins have shown more convincingly.
In crypto banking, just as in traditional banking, trust is essential. (See below.) |
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Here's a look at the top three stablecoins by market cap, before and after the stablecoin shakeout: |
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Investor takeaway: If you're encouraged by the growth of USDC, we remind you that Circle, the parent company of USDC, is going public. (Here's the guide on how to buy Circle stock.) |
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| Hi everyone,
The apes have officially voted. With a very thin margin, the decision is to stay on Ethereum rather than create another blockchain. Thank G-d! |
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| For those of you who haven't been following along, the sales of land in a yet-to-be-built metaverse from Yuga Labs, the creators of the Bored Ape Yacht Club, flooded the Ethereum network a few weeks ago and temporarily brought down the Etherscan blockchain explorer. Yuga Labs, out of what must have been a mixture of frustration and flashing dollar signs, announced their intention to create a stand-alone blockchain for the project.
The fact that they put this to a vote at all is pretty amazing and stands as a testament to the democratic nature of this new market where stakeholders tend to have a much greater say over how their respective communities are taking shape.
Why the vote resulted as such is anybody's guess. My personal hypothesis is that many of the ApeCoin DAO members who voted are probably also early adopters of Ethereum. With the merge closing in, it probably makes sense to wait and see how it turns out rather than build something entirely new and unpredictable. |
Believable bears
With Eth itself struggling to hold its long-term support at $1,700 and many NFT projects bleeding value, many are probably questioning the long-term viability of this industry.
One man who reportedly predicted this crash and is seen by many as a top thought leader of the space, Gary Vee, says that the market prices right now are actually good news. Prices might be down since January, but if we go back a year, they're still ridiculously up. In this interview on Yahoo Finance, Gary Vee breaks down the cycle of hype and utility. Unlike myself, he doesn't even invoke the Federal Reserve or traditional markets, just common sense about where we're at right now. |
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| He's absolutely right. In retrospect, million-dollar punks were not really sustainable and everybody who thought that it was an outrageous trend was right. But the premise that this is the next layer of the internet is still very much accurate.
Wishing you all a fantastic weekend! |
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| Mati Greenspan Analysis, Advisory, Money Management |
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It's a different world now. |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It is created by Evamarie Augustine, Charles Bovaird, Mati Greenspan, John Hargrave, and Alexandre Lores.
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