Overview
- Edition One: Introduction to Good Morning Crypto.
- Polkadot (DOT) preparing for a breakout?
- The return of Cronje.
- The Terra drama continues.
- Goblintown.wft rules the open seas.
Introducing Good Morning Crypto
“The beginning is always today.”
― Mary Shelley
Dear Banter family,
Good morning and welcome to the first edition of the Good Morning Crypto newsletter! We’re excited to bring this medium to the Banter ecosystem of goodness. If you have already read the Crypto Morning Brew, you’ll have a good idea of the newsletter’s layout. If not, welcome. We’ll use this edition to lay out the future direction of the newsletter.
We’ll reserve this first edition to examine the goals of the newsletter. We’ll also cover the things we won’t do on this platform.
While you sleep, we continue to work, and since the newsletter drops before the show, it will prepare the readers first thing in the morning.
We all know how much you love the Banter videos, but sometimes you may not have time to watch them. So the newsletter will be an excellent way to stay up to date while you drink your morning coffee. And honestly, who wants to read morbid newspapers when you can read crypto alpha instead?
The goals:
- To keep the reader up to date with the fast-paced crypto markets. (Charts, daily performer, Fear/Greed index)
- Inform the readers of any upcoming projects and opportunities in the crypto space. (Project updates, airdrops, protocol changes, proposals)
- NFTs: NFT news and locate famous mints with legit teams/artists.
- A medium to present banter prize opportunities, competitions, and giveaways.
- Build community.
- Keep it entertaining.
- Do it all in under 5 minutes of reading time!
The won’ts:
- We will never shill any particular projects for our benefit. (We will have sponsors, though)
- We won’t send any spam through your email.
- As you already know, we NEVER give financial advice. Merely our opinions.
- Charge you $$$. Always no-cost.
Welcome to edition numero uno!
Market update 🌍
Bitcoin (BTC) continues to range sideways since May 12, with a floor of 28.7k and a top of 30.7k. The US markets sold off BTC -4% in a 4-hour window early this morning but the floor preserves. Volume continues to be low, signaling little interest in trading. Continue to monitor for a break of the range limits with a spike in volume to verify a breakout. BTC completed the US session at US$29,108, down 3.91%.
Source: Trading View
DOT/USDT
Polkadot (DOT) appears to be entering a symmetrical triangle pattern on the daily charts, additionally confirmed by the decrease in volume. Triangle patterns tend to squeeze price to a head before a breakout occurs. If successful, DOT/USDT could hit a $US14.00 mark, associated with the size of the triangle base. The altcoin market is significantly correlated, and many of the altcoin charts look similar. Be aware that altcoins are extremely risky to trade in the current market and are very dependent on bitcoin price action. Trade with risk management in mind. NOT FINANCIAL ADVICE.
Source: Trading View
| US markets close | Gain/Loss |
| S&P 500 | +1.86% |
| Nasdaq | +1.08% |
| Dow | -0.91% |
| VIX | -3.21% |
| Protocol (Coin) | Price ($) | Gain (%) |
| Loopring (LRC) | 0.55 | +9 |
| Stacks (STX) | 0.60 | +8 |
| Aave (AAVE) | 100.44 | +6 |
| Achor Protocol (ANC) | 0.53 | +235 |
| Bitcoin Gold (BTG) | 24.73 | +26 |
| Evmos (EVMOS) | 1.58 | +11 |
| Everdome (DOME) | 0.026 | +10 |
| Synapse (SYN) | 1.22 | +10 |
| Request (REQ) | 0.14 | +32 |
| Coinmetro (XCM) | 0.39 | +27 |
| Reserve Rights (RSR) | 0.0059 | +22 |
| LooksRare (LOOKS) | 0.61 | +19.5 |
| Bitcoin Fear and Greed Index | 12 Extreme Fear |
| “Crypto” Google Trends 90d | 22 |
| “Bitcoin” Google Trends 90d | 33 |
Newswatch 📰
The return of the Cronje. With a return of 33% in three days, Fantom (FTM) has performed exceptionally well since the return of superstar blockchain programmer Andre Cronje. Cronje submitted an fUSD proposal to bring the stablecoin back to a 1.00 peg. Anton Nell announced the departure of Cronje from the DeFi space in early March, which led to a hefty sell-off in FTM. Cronje appears to have returned, but there are no mentions of the degree.
The Terra drama continues. With catastrophic events comes enormous unravelings of blame and mishaps. The Terra incident is no different, and news stories will continue to reign the headlines. Some recent incidents:
- The Terra Twitter notes the new chain is NOT a “fork” of the original, but rather a whole new blockchain.
- @FatMan, an emerging contributor to the Terra incident, has been contacted by several Terra whistleblowers. Some notable names were mentioned on Tweet, including Jump Capital, Sam Bankman-Fried, Kanav Kariya, and Do Kwon.
- The South Korean authorities are taking action to freeze assets tied to the non-profit Luna Foundation Guard (LFG).
- Resurfacing of Do Kwon Terra’s “kill-switch” comment.
GameStop launches Ethereum Wallet. The largest video game retailer, GameStop, launches a non-custodial Ethereum wallet that will allow users to send and receive NFTs through its upcoming NFT marketplace. GameStop and Ethereum Layer-two network Immutable X (IMX) partnered earlier in the year to bring NFTs to the retailer’s customer base.
The Fed Report notes crypto in a key study. According to the Federal Reserve’s Economic Well-Being of US Households in 2021, 12% of US adults held cryptocurrency in 2021. Only 3% of US adults used crypto for money transfers. A majority of users held crypto for speculation. Of the cohort who utilized crypto for payments, 60% earned less than $50k a year and had poor access to financial services. The report failed to mention cryptocurrencies entail other purposes besides payments.
News Tidbits:
- IMF and Bank of France officials believe more CBDCs will emerge in the next three to five years.
- CFTC charges two men with a $44 million crypto “Ponzi” scheme.
On-chain ⛓
Near’s USN is not like UST. After much worry and speculation, Alex Pavlov clears the air about Near Protocol’s (NEAR) USN stablecoin and its tokenomics. USN is a fully collateralized decentralized stablecoin backed by NEAR and USDT.
On-Chain tidbits:
- Introducing Katana Treasury for DAOs.
- StarkNet Roundup #17.
- Misconceptions regarding the Ethereum Merge and token unlock.
- SushiSwap (SUSHI) announces its Academy to learn the ins and outs of SushiSwap.
NFT & metaverse update 🐵
Goblintown.wft NFTs shine. Three days ago, Goblintown.wft NFTs minted for free on their website, and yesterday the project witnessed the second-highest trading volume of any project on OpenSea. So with no discord, roadmap, or utility, why did this CCO project take off? Even though it’s doubtful, rumors are floating around that Yuga Labs, the team behind BAYC, built the project. The current floor price for a Goblin is 0.43 ETH on OpenSea.
GobliTown.wft NFT
NFT Tidbits:
- Milady mega thread
- Brave New World by Beeple
Notable Mints:
| Project | Type | Mint price | Date of mint | Time |
|---|---|---|---|---|
| Budverse Legends | Collectible | $180 + gas | May 24 | 2:00 PM EST |
| Mr. Bean NFTs | Collectible | 0.12 ETH | May 25 | 3:00 PM EST |
| Anime Metaverse | PFP | 0.25 ETH | May 25 | 9:30 AM EST |
| Birds of Solis | ART | Unknown | May 26 | 1:00 PM EDT |
| Tigerbob | PFP | 0.25 ETH | May 28 | 12:00 PM EDT |
Banter’s take
You gotta love FIRST! First kiss. First love. First beer. First time watching Crypto Banter and now the First Edition of Good Morning Crypto.
Ok, maybe it’s not as exciting as first love, but we hope to provide you with enough alpha to keep you coming back. To let you in on a little bit of Banter business insight, we have around 20 researchers consistently searching for ways to keep you updated and entertained. That’s a lot of information, and unfortunately, the show doesn’t have enough airtime for ALL of us, but if it’s essential, we’ll mention it in the newsletter. It is another tool to keep you informed and on top of your game.
Subscribe, share, read and re-read because you don’t want to miss any updatesus during the run of one of the most significant technological advancements in history. With fast growth and change comes opportunity.
Thanks for reading!
Gabri
