I have been struggling to find good (and worthwhile) topics to write about. The crypto market is stuck between regulatory changes and developments and an unfriendly global macro outlook. Not to mention a potential war.
Each of these topics have been mentioned several times over the past few months – with no decisive changes or outcomes.
The crypto market is being pushed up and down every time there is a positive or negative headline. And leveraged traders have lost their appetite to play in such conditions. The futures market is mainly being used to hedge spot flows with the funding across the major perp-futures having been flattish for weeks now.
The NFT/Gaming/Metaverse space has attracted quite a bit of capital, which is now missing on the centralised exchanges. The capital is mainly used to fund infrastructure plays and not single tokens – with NFTs being the exception. Retail investors usually have no access to such infrastructure investments and need to wait until a token is available.
Here are two topics definitely worth mentioning:
1) What’s happening in Canada (a well written comment by @punk6529)
2) The fishing attack on OpenSea NFT holders (a good technical summary by @dguido)
Both of these topics are linked directly to an important feature of crypto assets: self-custody (Canada) and the responsibility that comes with it (OpenSea).
Have a good trading week! And always be on the lookout for scammers!