Health, Wealth, and Happiness |
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| "The rung of a ladder was never meant to rest upon, but only to hold a man's foot long enough to enable him to put the other somewhat higher." - Thomas Huxley |
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| Howdy, investors!
- Litecoin has long been called the silver to bitcoin's gold, but does that still hold true in 2024? People are using it more than ever, but is the LTC token still a good investment? Get our complete analysis below.
- Daily Active Users remains one of our favorite metrics, since DAU represents real customers of a crypto company. Today we report on the top crypto projects by DAU to show you which cryptos have the most customers.
- If you want to buy bitcoin without having to fill out lengthy KYC onboarding forms, you are in luck. In today's issue, you'll learn how to buy bitcoin anonymously: it's still possible!
Read on! |
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| This Week in Bitcoin Market Journal Our latest crypto investing insights and ideas. |
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| Should You Invest in Litecoin (LTC)? Charts, Stats, Analysis for 2024
In 2011, bitcoin was barely two years old. But Charlie Lee, a brilliant mind fresh from the halls of Google, had a vision.
Lee wasn't just another engineer jumping on the blockchain bandwagon. He envisioned a cryptocurrency that would complement bitcoin, rather than compete with it. He saw Litecoin as a digital asset designed for everyday users, not just the tech-savvy early adopters.
As he built and launched Litecoin, he improved on bitcoin, with faster transaction times and a mining process that wouldn't require a supercomputer farm in your basement. It was cryptocurrency for the masses, a digital coin that your grandmother could use (well, almost).
The crypto community took notice. By late 2013, Litecoin wasn't just another altcoin. It boasted a $1 billion market cap, catapulting it to the number two spot in the crypto rankings. For a brief, shining moment, it was the digital silver to bitcoin's digital gold.
But the crypto world moves fast, and new players were entering the game...
Is Litecoin (LTC) still a good investment? Click for our analysis >> |
| Analyzing the Top Crypto Investments by Daily Active Users
While there are many ways to evaluate the potential success of a crypto project, looking at daily active users (DAU) is one of our favorite metrics.
Daily active users refers to the unique number of public addresses transacting on a blockchain per day.
Imagine you run a restaurant. Even if your restaurant has the best location and highest quality food, you’re not going to be very successful unless you get customers through the door – and keep them coming back for more.
Daily active users are like the “repeat customers” that keep coming back. If a crypto project has a high DAU, this is a good indication that it's found product/market fit: users find value in the project and return to it frequently.
It's incredible how many people invest in crypto projects without looking at DAU, but the intelligent crypto investor looks at this metric closely before investing. In this report, we show you which crypto projects are driving the most DAUs. Get the complete list here >> |
| How to Buy Bitcoin Anonymously: A Step-by-Step Guide
Buying bitcoin has become easier than ever: in addition to a wide variety of bitcoin ETFs, there are a large number of bitcoin exchanges that let you purchase the asset.
However, many of these platforms require you to fill out KYC documents, which can be cumbersome and time-intensive. It can also expose your personal information to people or organizations you don’t want to have those details.
Fortunately, it's still possible to buy bitcoin without having to provide personal information.
In our updated guide, you’ll learn how to buy bitcoin anonymously, using anonymous bitcoin exchanges and peer-to-peer platforms.
Learn how to maintain privacy when buying bitcoin >> |
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| Premium Power-Ups Level up your crypto investing game. |
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Our New (+Improved!) AI Investment Assistant |
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| We appreciate all our Premium members who tried out our new AI-powered investment assistant when we launched it last week.
Now, we've made it even better.
Just enter an amount you’re ready to invest, and our assistant will outline a potential strategy for you, now with estimated five-year returns, built from our custom AI models.
Our assistant has been trained on the Bitcoin Market Journal investing approach, which has outperformed traditional investors by 40%+ over the long term. Premium BMJ members now have access to our improved AI assistant, plus our complete library of crypto investing tools, for on-demand access.
Not yet a Premium member? Sign up now and get access to all the tools, including the new AI Investment Assistant!
Check out our new AI Investment Assistant >> |
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| Must-Reads This week's most important stories for crypto investors. |
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| (BlackRock) - Finally, BlackRock analysts are acknowledging bitcoin as a unique diversifier in investment portfolios, highlighting its low long-term correlation with traditional assets, and its appeal during geopolitical and economic uncertainties. We've been saying this for years, and it's good to see traditional investment firms coming around. |
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| (Bankless) - Recent developments of major DeFi lending protocols include Aave's ambitious expansion, MakerDAO's rebranding to Sky, and Compound's steady approach to growth and innovation. Good overview that's worth a read for every DeFi investor. |
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| (Bankless on YouTube) - According to Robbie Mitchnick, Head Digital Assets at Blackrock, the firm is leaning heavily into tokenization. This should bode well for Ethereum, the blockchain currently favored for such projects. With the total market cap of U.S. stock and bond markets approaching $200 trillion, tokenization of these asset classes alone could explode Ethereum usage. |
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| (Lightspeed on YouTube) - Learn about the current state of Solana DeFi, according to MacBrennan, Co-founder of MarginFi. While he praises the established primitives, he also notes challenges in development and user growth. Recent declines in volume and TVL are attributed to macro factors and sentiment. That could be good news for SOL investors when things turn better.
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| (Coin Metrics) - Coin Metrics introduces datonomy™ for classifying digital assets, analyzing sector performance, and examining correlations between on-chain metrics and sector returns in the crypto market. Definitely a platform targeted to intelligent investors (like us) interested in the fundamentals of crypto projects. |
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Chart of the Week Aave Dominates Active Loans |
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| While we love daily active users as a metric for determining a project's usage and growth, other metrics can sometimes serve well as proxies. In the lending space, we can measure the health of a company by Daily Active Loans.
This metric shows the number of loans outstanding. Active users would count a single user just once, even if that user has multiple loans open. Active loans shows us all the activity on the platform.
Crypto lending did see a huge pullback in August, with active loans dropping from an all-time high near $13 billion to just under $11 billion. However, things are looking up, and we could see a new all-time high by the end of the year if the broader market remains healthy.
Aave (AAVE) is the clear leader in this space, with over half of the active loans in DeFi. This generates significant revenue, and makes Aave the most valuable lending platform in a vast market. |
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| | | ICYMI In Case You Missed It |
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In case you've missed our recent newsletters, here are links to the September 9 and September 16 newsletters, as well as the most recent BMJ investor content:
Should You Invest in Dogecoin (DOGE)? Charts, Stats, Analysis for 2024 Is the DOGE token still worth your investment? Read our complete analysis.
We unpack the process of buying bitcoin with a credit card, step-by-step, with photos.
Learn about Coinbase Wrapped Bitcoin (cbBTC), how to use it to earn money while you sleep, and the biggest investment opportunity unlocked by cbBTC. |
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| Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.
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