Health, Wealth, and Happiness

May 3, 2024

"I've been absolutely terrified every moment of my life--and I've never let it keep me from doing a single thing I wanted to do."

- Georgia O'Keeffe

Howdy, investors!

What does it mean to invest in DeFi? Well, it's not bouncing tokens around different projects, that's for sure. Learn what it means to follow the BMJ philosophy in our Investor's Guide to DeFi.

In our continuing evaluation of the crypto space, we're releasing our latest Investor Scorecard: Feth.ai. Does it stand up to scrutiny from our experts?

Aave has released a significant upgrade to improve its lending platform, looking to solidify its dominance in the lending space through 2030 and beyond.

Leading stablecoin Tether recently released its Q1 2024 attestation, showing a record $4.52 billion in profits. This is a huge profit for this stablecoin and a signal that investors should note.

Does "Sell in May and Go Away" apply to crypto? The answer might surprise you.

Read on!

The Investor's Guide to Defi

by John Hargrave

Crypto investors are often pulled into decentralized finance (DeFi) with the promise of easy riches.

They hear about DeFi platforms offering 10,000% APYs (not an exaggeration): all you have to do is put crypto into your digital wallet, connect it to a DeFi website, and push a button.

Most of us don’t have the time or the money to waste. At Bitcoin Market Journal, we aim to look for long-term investments in crypto companies that will drive long-term value. So, instead, look for the DeFi products that people are using and invest in those.

In this guide, we’ll explain some simple principles for DeFi investing. Read on.

Click for our nifty guide to DeFi >>

Premium Power-Ups

Level up your crypto investing game.

New Investor Scorecard: Fetch.ai (FET)

Fetch.ai is a decentralized network where intelligent software programs known as

autonomous agents can handle transactions and interactions.

Native token FET is now among the world's top 50 most oversized tokens by market cap, and its price has increased by nearly 600% yearly. The weakness in crypto throughout April means FET is off its March highs, but not significantly so, indicating that an uptick in markets could see FET quickly rise to new all-time highs.

Premium members can download the Fetch.ai Investor Scorecard here to learn what our analysts say about Fetch.ai, its fundamentals, and investing in FET.

Are you not yet a Premium member? Sign up now to access our tools and tips for becoming a better crypto investor.

Must Read

Today's most important stories for crypto investors.

Aave Labs Debuts V4 Roadmap

(The Block)

Aave Labs proposes a significant upgrade to their lending platform, Aave V4. This upgrade is part of a larger "Aave 2030" initiative to revamp the entire platform by 2030. Aave should remain the most valuable lending platform if the team can deliver. In the meantime, get familiar with Aave by reading our Investor's Scorecard.

Tether Netted $4.52 Billion Q1 Profit Thanks to Bitcoin Gains

(Decrypt)

Tether shattered records with a $4.52 billion profit in Q1 2024. This windfall came from a combination of interest earned on their massive U.S. Treasury holdings and significant gains from rising bitcoin and gold reserves. Tether also grew its excess reserves to $6.3 billion, exceeding prior criticisms about its reliance on secured loans. A recent drop in bitcoin's price might impact some unrealized gains, but Tether remains the most profitable stablecoin.

Sell in May and Go Away

(X)

The saying "Sell in May and Go Away" suggests that buying bitcoin in October and April historically leads to better returns than buying in May and selling in September. The beginning of May 2024 looks bearish for Bitcoin:

Institutional and retail investor sentiment is cooling.
Trading volume and volatility are low.
Macroeconomic factors are worsening.

However, the US Treasury injecting money into the market could reverse the downtrend. Depending on the Federal Reserve's actions, even if investors sell in May, they might return before November.

Thanks to our Sponsor

With the Earn on Coinbase program, you could be getting up to 10% APY for your eligible crypto. Put your crypto to work, and earn rewards today at Coinbase Earn.

Chart of the Day

Aave Dominates Active Loans

While we love active daily users as a metric for determining a project's usage and growth, other metrics can serve well as proxies in some cases. In the lending space, this is the active loans metric.

Active loans show the number of loans outstanding, which captures all the activity in the protocol. Active users would count a single user just once, even if that user has multiple loans open. By looking at active loans, we can see all the activities occurring.

Even though April has seen some pullback, lending remains a huge ecosystem, commanding nearly $10 billion in active loans.

Aave is the clear leader in this space, with over half of the active loans held by Aave. This generates significant revenue and makes Aave the most valuable lending platform in a huge market.

ICYMI