This past week with CPI reports showing inflation currently around 7.5% much of the market has experienced a risk-off event.
You can track this against the 10yr Treasury Bond Yields that subsequently rose with many expecting rate hikes in the coming months.
This said, Bitcoin and other Crypto Currencies actually rose recently, as Traditional Financial markets fell.Not to mention the fears of war breaking in Ukraine.
Below you will find our Weekly Watchlist.
First a little BTC insight.With BTC breaking above our targets of 40,500, reaching through 45,000 I believe we have a retest of the ~40,000 level in the coming days.This will likely have a great effect on “Alt Coins” as people panic sell.
Which is often the best time to average into positions, or look for scalping plays.Whichever your style.
Generally, I’m looking for blue chips and ones with a higher percent fall than the rest of the market.
[Primary]
Avalanche, AVAX – With the market drawdown AVAX held its support around 80 fairly well.This area looks to me like a great entry for the continued rally.Keep in mind that avalanche is a highly deflationary smart contract platform.
A portion of the AVAX that’s required to send a transaction is burned.Decreasing the total amount of AVAX available.
With its superior gas fees, providing a lower barrier of entry into defi, it’s likely that the demand for AVAX will also continue.A decreasing supply with increasing demand is setting AVAX up nicely for a continued rally.Below is the on-chain avalanche network data displaying the burned fees required to keep up with the increasing network activity.
Cosmos, ATOM- I believe ATOM has further drawdowns and would look for entries on tests of the 26 area.Cosmos is putting serious effort into becoming a superior interoperable blockchain platform.With recent upgrades to their network, as well as an abundance of new projects choosing to build on top of Cosmos, there will be a large demand for their token ATOM.
Without ATOM I cannot participate in the multitude of new projects choosing to build on this fascinating network.So there will be quite the demand.As well as being able to earn a juicy 10% APY staking ATOM on their hot wallet , there are many reasons to be a fan of Cosmos.
If BTC continues to rally, ATOM may have a higher percentage gain in 2022.
Near Protocol, NEAR The Near Protocol has had a tremendous amount of growth recently.With hitting their all-time high just last month, as well as an all-time high of black transactions shortly after.
With that said I’m looking for entries on tests of ~10.
Near protocol uses a high-performance proof of stake (POS) sharding mechanism to reach transaction speed and settlement time far surpassing Ethereum’s.With how high gas fees currently are, people are searching for a network that is more economically efficient than Ethereum, I’m guessing NEAR will be one of these.
With a doubling of node validators, which is just the software that people use to form consensus, since NOV of 2022 the real growth of this network is apparent to me.
Along with being able to earn a nice ~11% APY by delegating NEAR to network validators, the list can go on and on; in my opinion, there are a ton of reasons for me to be bullish on NEAR.
Secondary
Gala Music and Gaming, GALA-
Gala’s recent entrance to the music streaming market has enticed me to acquire a Gala Music Node.With Snoop Dog releasing his newest album as an NFT on GALA , with a max amount of 16,458 albums, this project has so much to offer.People will rush to buy this album, to either listen to it or flip it for huge profits.That will require them to purchase GALA.
Not only are they becoming the leader in the web 3.0 music industry, but they’re also becoming a powerhouse of gaming.
With a multitude of games in development they have yet to announce, along with massive transaction speed upgrades.GALA may dominate the NFT music market and Play to Earn (P2E) crypto gaming space.In my opinion, you’re very early on GALA, so this for me is one digital asset to hold onto.If GALA holds the .30 cents range it finds itself in over the weekend then it is an amazing opportunity to form a position through dollar-cost averaging.If it falls through .30 cents, a retest of ~.25-.23 cents is next.
Bonus Alpha
Attack Wagon, ATK-
Attack Wagon studios are releasing a land sale quite soon, for their first game Scrap Guilds.This is an opportunity for me to earn passive interests on my virtual land in an emerging market.I don’t even have to play the game to earn this passive interest, although I know I will.I personally am considering purchasing a Grand plot through them.
They also have staking live on their website, so if I do get into this play-to-earn studio game, I’ll make sure I’m capitalizing on the interest I can earn through staking here .
Once again, this project is still in the early stages of development.I have vetted the team quite dramatically, but keep in mind that this is riskier than the other digital assets listed above.
I will cover each asset on our Monday stream.These videos will be available to you at any time.
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