🤖 Solana Season it’s upon us, get ready!

Happy Monday dear subscribers! In today’s Newsletter, Solana’s global interest on the rise!

In today's bulletin, we are covering:

• Surfing the Market, with analysis about the ARB and KAS

• Don't miss the News about Solala rising, and NodeMonkes

• Chainflp is under the spotlight.

• Short article about The Importance of Cycles

• Our selection of the best Gems on X

  

ARB breached down the main uptrend support and is struggling on the horizontal range...looking really bad. IMO more downside ahead:

If KAS manages to consolidates the 12 cents range I will look to add positions. Really like the fundamentals on this one:

Solana (SOL) Sees Unprecedented Global Interest Amid On-Chain Surge

Solana (SOL) is experiencing unprecedented global interest, reaching a peak popularity of 100 in Google Trends over a five-year period.

This surge in interest coincides with record-breaking on-chain metrics and a significant price increase.

• Global interest in Solana has reached an all-time high, as indicated by Google Trends data.

• Solana's on-chain volumes hit a new peak of over $3.79 billion last Friday.

• The network has witnessed a surge in new addresses, with nearly 870,000 created on Saturday.

• Daily transaction fees on Solana have increased dramatically, reaching $3.83 million on Saturday.

• The price of Solana has risen by 11.38% to $204.08, making it the fourth-largest cryptocurrency by market capitalization.

• The surge in Solana's popularity is attributed to the hype surrounding Solana-based memecoins, such as Bonk and dogwifhat.

• The success of Dogwifhat holders' campaign to advertise the memecoin logo in Las Vegas has fueled discussions about market overheating within the crypto industry.

NodeMonkes Bitcoin NFTs Surge Over 50%, Overtake Bored Ape Yacht Club

The floor price of NodeMonkes, a premier Bitcoin NFT collection, surged by over 50% in 24 hours, surpassing Bored Ape Yacht Club in market capitalization.

• NodeMonkes' floor price surged by 53.3% to 0.83 BTC ($55,890) in 24 hours, with its market cap reaching $558.9 million.

• NodeMonkes becomes the second-largest NFT collection by market cap, trailing behind CryptoPunks.

• Sales volume for NodeMonkes rose by 140.8% to $5.1 million in 24 hours.

• Runestone, another Bitcoin NFT collection, saw a 40.7% surge in floor price, reaching a market cap of $306.5 million.

• The surge in Bitcoin NFTs is attributed to a shift from Ethereum-based NFTs, possibly due to rising gas costs and an "exhausted" market on Ethereum.

• Ethereum-based NFT marketplaces experienced a decline in monthly trading volume, falling to $786.5 million in February from January's $867.8 million.

This surge reflects a growing interest in Bitcoin NFTs amid a decline in the Ethereum-based NFT market.

Chainflp

Today we are not having an animal for a change…. this time we have Chainflp under the spotlight!

Chainflip is a decentralized protocol (DEX) designed to facilitate trustless cryptocurrency asset exchanges across various blockchain networks without users needing to relinquish custody of their assets during the swapping process.

The project aims to displace centralized exchanges (CEX) by providing users with a decentralized alternative that offers easy and secure asset trading across different blockchains, ensuring self-custody of assets and transparent, efficient pricing.

Chainflip addresses several issues in the cryptocurrency exchange space. It offers a solution to the lack of efficient on-chain markets for assets like BTC, provides self-custody options to users, and aims to reduce reliance on centralized exchanges, which are vulnerable to hacks and breaches.

Chainflip solves these problems by utilizing a decentralized protocol powered by a unique 'Just-in-Time' Automated Market Maker (JIT AMM). This approach allows for seamless, trustless asset swaps across multiple blockchains without the need for wrapped tokens or traditional bridging methods.

Chainflip works by utilizing a decentralized protocol secured by a network of validators who stake the project's native $FLIP token. Users can easily exchange assets across different blockchains using the protocol, benefiting from competitive pricing and maintaining control of their assets throughout the process.

$FLIP operates on the Ethereum blockchain as an ERC-20 token. The token serves various functions within the Chainflip ecosystem, including staking by validators, providing liquidity, and processing instructions on the decentralized exchange.

The $FLIP token plays a crucial role in the Chainflip ecosystem. It is used as collateral for validator auctions, enables liquidity provision and relaying services on the platform, and is subject to burning through the protocol's incentive mechanisms. Additionally, $FLIP holders may benefit indirectly from protocol fees and incentives.

As of the time of writing this research, $FLIP is at a $146M market cap with a total supply of ~92,1M tokens circulating at the moment. It has an elastic supply which means that there is minting and burning and the protocol doesn’t have a fixed or final token supply.

They raised over $26M in different funding rounds in 2021, 2022 and 2023, and some of the most remarkable names in there would be Coinbase Ventures, Pantera, CMS or AU21 Capital among others…

If you want to learn more about this project, there is a lot of info in their official Twitter (https://twitter.com/Chainflip) and Website (https://chainflip.io/ ).

I hope you enjoyed this one, and I invite you to pass by the community (https://discord.gg/rand ) and let me know the project/coin/narrative you would like to be brought under the spotlight next time!

Have a wonderful week, see you next Monday!

The Importance of Cycles

Knowing how to identify cycles in markets is the cornerstone for any investment decision, yet it is rarely discussed, so is it important to recognize them?

The answer is absolutely YES. 

In any investment analysis, the ideal approach is to go from the general to the specific, what in the field of research is called deductive method, and there is nothing more general than cycles.

Cycles are important because they define the environment in which we will make decisions and imply a direction, in this case of the market, which is crucial to know in order to maximize our investments.

When we talk about cycles, we refer to bullish, bearish, or sideways cycles, the latter perhaps being the least common and most boring of the three.

By knowing which cycle we are in, we can make strategic decisions that align with that cycle. For example, in a bullish cycle, our decisions should lean towards taking LONG positions and not SHORT ones, simply because the trend is upwards and any downturn represents a buying opportunity.

But oftentimes our focus should not only be on identifying the cycle, but also on anticipating its beginning or end, so that it allows us to position ourselves in advance and build the portfolio over time (this is especially important for those with a large capital involved).

And here comes mass psychology into play, as cycles tend to show their peaks in the midst of euphoria and their lows in the depths of pessimism.

If we are unable to identify the market cycle we are in, our operations will be doomed to failure because any strategy that works in a bullish market will not work in a bearish one simply because we are going against the tide.

Let's see an example: to go from one city to another, we take the highway in the right direction, that would be the normal case (we identify the cycle correctly), or we can cross over and move against the flow, which sooner or later will end in an accident (we are going against the cycle).

Why is all this important? Because when we are aware of the cycle, we can delve into the analysis to determine which phase of the cycle we are in: beginning, development, or end. 

And based on this, not only decide on the directionality of our operations but also on their aggressiveness. It is not the same to operate in a bullish cycle in full development as in its final stages, where we must begin to reduce exposure.

This topic of cycles is very clear in crypto, where bull and bear markets are very marked, and positioning oneself on the correct side of the market really makes a difference. Even in life itself, not everything is linear, and we go through cycles in all aspects. Knowing how to identify them implies being able to make the most of each one.

In conclusion, we must be able to recognize a cycle (even if we are not actively trading) and once this is done, identify the stage of the cycle to direct our operations in the most efficient way possible.

There are times to be conservative, times to be aggressive, or times not to trade... and this can only be done well if we know the cycle we are in!

A Reflexion on ETH ETFs

Take your time!

Microstrategy VS Blackrock

Don’t sleep on this market, lots of opportunities to come, see you next week!