Health, Wealth, and Happiness

April 3, 2024

“You may encounter many defeats, but you must not be defeated. In fact, it may be necessary to encounter the defeats, so you can know who you are, what you can rise from, how you can still come out of it.”

- Maya Angelou

Howdy, investors!

After we published our Uniswap Buying Alert on March 1, the price of UNI soared from $11.61 to $15.39. (We were right about that.)

However, the Uniswap fee switch proposal did not pass, and the price of UNI has now dropped to $10.68. (We were wrong about that.)

So today, we revisit our investing thesis for Uniswap with an update on the new and improved fee switch proposal, which is up for a vote soon. (We may be right about that after all.)

While we don't condone memecoin trading, a recent report shows the risky sector driving DEX trading volumes to a record $261 billion in March.

Liquid restocking continues to drive investment into the DeFi space. However, those using these services should also know the risks of liquid staking tokens.

Read on!

Should You Invest in Uniswap (UNI)?

by Preetam Kaushik

With the largest share of the DEX market, low trading fees, and a growing user base, Uniswap is the undisputed leader of the DeFi revolution.

This fact, along with its low trading fees and a continually growing user base, has led Uniswap to maintain its status as the "King of DEXs."

But plenty of competitors want to claim the throne.

In our updated guide, we'll explain how Uniswap's recent proposal to share fees with UNI token holders (creating a dividend-like payout for investors) would come at the expense of Liquidity Providers, who power the Uniswap engine.

Would this ultimately be a good or bad thing for Uniswap?

Read on to learn the answers to these questions and more >>

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Blockchain Believers Portfolio: Q1 2024 Update

We launched our premiere crypto portfolio in 2018. Despite crypto's volatile nature, it has consistently allowed believers to outperform traditional investors.

Simply put, these are our best results yet. Blockchain Believers are being handily rewarded for hodling through the crypto winter.

Investing in a mix of stocks, bonds, and crypto can give Blockchain Believers access to this fast-growing market while leveling out volatility. It’s never too late to start.

Premium Members can download the Q1 2024 report here, with tips on how to get started investing in this portfolio today.

Not yet a Premium member? Sign up here and get in on the action - get access to our ongoing portfolio updates, investor scorecards, VIP events, and more!

Must Read

Today's most important stories for crypto investors.

State of the Network’s Q1 2024 Wrap-Up (Coin Metrics)

This Q1 wrap-up analyzes the digital asset market, highlighting bitcoin's record $2 trillion market capitalization, the long-awaited launch of spot bitcoin ETFs in the US, Ethereum's Dencun upgrade and significantly reduced transaction fees, and the growth of stablecoins. Overall market sentiment is positive, fueled by innovation and increasing adoption and higher token prices.

Memecoins Fuel Record Monthly DEX Trading Volumes (The Defiant)

Memecoin trading fueled a surge in decentralized exchange (DEX) activity in March, with DEX transaction volume at a record high of $261 billion, surpassing the previous peak in November 2021 by $25 billion. While traditional media is focused on spot bitcoin ETFs, memecoins have quietly experienced a bull run, with some even reaching the top 100 by market cap. (Memecoin trading is risky, and we advise against it.)

Restaking: Everything Old is New Again (Coinbase Institutional)

Restaking on Ethereum offers a promising new way to earn rewards by securing additional services beyond the blockchain itself. This "security-as-a-service" model could boost ETH yields in the long run. However, complex restaking strategies hidden within liquid restaking tokens (LRTs) could expose token holders to unforeseen risks. Those willing to accept the risks of liquid restaking can find an excellent way to boost yields on staked ETH, but knowledge of the space is key.

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Chart of the Day

TVL of Liquid Staking Protocols

New things always drum up excitement in the crypto space, and the newest way to earn yield is liquid restaking.

You might be familiar with liquid staking, in which you stake ETH and receive a liquid staking token (LST) that you can trade or use as collateral for a loan. It's like having a certificate of deposit for your staked ETH.

Liquid restaking takes this a step further. With liquid restaking, you convert your LSTs to liquid restaking tokens (LRT) that can be used to secure other services - even those outside the Ethereum network. This allows you to earn even more yield. Sometimes, you can extend this several levels to increase yields even further.

The EigenLayer protocol introduced liquid restaking, which the Ether.Fi protocol refined further. Although both are quite new—EigenLayer launched in July 2023—the two have rapidly added billions in total value locked (TVL). They are rapidly closing in on Lido's (LDO) domination in the liquid staking sector.

Although these two new protocols' rapid growth might not be sustainable, they are currently considered the hottest thing for ETH staking. Ether.Fi recently dropped the ETHFI token, which rapidly doubled in value before returning to a more reasonable 30% monthly gain.

EigenLayer hasn't announced an airdrop yet, but retail traders believe they will have one based on EigenLayer points. If there is an airdrop, especially in a bull crypto market, those new tokens should see a significant upside, at least in the short term.

ICYMI