Let's Crypto 🚀 01/2023
Actionable content for Let's Crypto Club members! This issue: Hottest NFTs on the Market, My Favorite DeFi tool, and the Top 10 Crypto Predictions for 2023.
Welcome, Let’s Crypto Club members, I hope you enjoy this month’s publication. For a limited time, the FREE Subscribers will have access to Premium content normally available only to paid subscribers. Enjoy!
Today’s Topics 💡
Hottest NFTs on the Market
One of My Favorite DeFi Tools
Top 10 Crypto Predictions for 2023
News Update, and more
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Introduction 👋
Don’t buy into the FUD! Crypto is not done. Not by a long shot. I believe it will continue to disrupt industries in 2023 and beyond, continuing with the financial industry, just like it has for the past decade.
For people actively involved in crypto, everyone wants to know what the future holds so they can maneuver their trading and hodl positions for maximum profit. Since I don’t trust my crystal ball, I scoured the internet for what I believe are the best actionable crypto predictions made by intelligent investors. Keep reading to discover what I uncovered for the Top 10 Crypto Predictions of 2023.
But first, here is my take on this new year. If you play in the crypto space as I do, you’re very aware of the volatility in crypto markets that offer profitable trading opportunities and the potential to earn yield through DeFi. I expect more of the same this year, with one caveat. Markets will likely bounce up and down within a range, and yields will likely trend lower on less liquidity during the first half of the year.
For detailed chart analysis on blue-chip cryptos like BTC and ETHER, follow me on Trading View (Life_with_Crypto). Also, be sure to become a paid subscriber to the Let’s Crypto Club newsletter for monthly actionable content, including alpha intel, trading insights, yield farming, and much more. If you have friends or family that want to learn crypto, have them try our FREE Intro to Bitcoin course at LifewithCrypto.com.
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Hottest NFTs 👾
Even though I’m risk-averse in the current market, I want to share a HOT NFT opportunity with you. Be sure to follow your own personal investment plan and stay within your comfort zone for this opportunity.
Y00ts NFTs by DeGods
Y00ts is the second collection of DeGods, and both DeGods and Y00ts are top-ranking NFT collections by volume on OpenSea within the Solana network.
Y00ts has the largest Solana NFT community in Web3, and their founder and team have strong ties to crypto Twitter influencers. However, this hot opportunity comes to you through a blockchain migration from Solana to Polygon. Keep reading.
Due to the unknown future of the Solana blockchain, the Y00ts team has announced they are moving to Polygon, which reportedly paid 5 million dollars for Y00ts to move to their blockchain. Meanwhile, a Reddit post alleges that both NFT projects asked the Solana Foundation for millions of dollars to remain on the Solana blockchain. Apparently, Solana said no thank you. At any rate, they will migrate to Polygon in Q1 2023, creating a very profitable trading opportunity.
Moving to Polygon means in the future, this NFT collection will be available for purchase on OpenSea with ETH. Because this project is so hyped, my crypto mastermind group thinks it will do well - even in the current bear market. Why?
Here’s one reason. Most large Web2 brands have chosen to launch NFTs on Polygon, including Adidas, Trump, Walt Disney, Reddit, and Starbucks. But, with whom will those Web2 brands want to partner for exposure to Web3 engagement? The expert’s guess would be the loudest Web3 NFT community on Polygon, which right now is Y00ts.
What to buy? In order to maximize potential profit, stick with the cheapest ones listed, called FLOOR price. Keep in mind, if you ever want to use your Y00ts NFT as a social media profile picture (PFP), you might want to choose one that you like while holding it long-term. I personally like the Y00ts NFTs way better than the DeGod ones. I am considering buying a Y00ts if I can get one at a decent price point.
Good luck! 👾
One of My Favorite DeFi Tools 🛠️
If you plan to make money in crypto DeFi, you absolutely need advanced tools to help narrow your choices. There are just too many protocols, dApps, DEXs, etc., to remember everything that is available.
That’s where my favorite DeFi tool comes into play. DefiLlama is a decentralized finance (DeFi) analytics dashboard that tracks quantifiable data across more than 145 blockchains and over 1,955 applications.
DefiLlama is the largest Total Valued Locked (TVL) aggregator in DeFi. The data is fully open-source and maintained by a team of passionate individuals and contributors from hundreds of protocols.
The platform is mainly suited for intermediate-level users and saves a great deal of time and effort searching and deciphering protocol data. You can get details on any type of application, including DeFi, Yield, dApps, Oracles, Airdrops, Forks, and more.
Here’s a screenshot of what I mean. This image lists the top 7 token pairs for liquidity pools with the highest APY yields. For example, the pool on line 1 is WETH-NOTE of the Balancer protocol on the Ethereum blockchain with a current APY yield of 328,512% and TVL of $2,061,066. This is very valuable information, and in my opinion, this yield farm is worth researching further.
If you have no idea what I’m talking about regarding DefiLlama, consider watching all my free YouTube videos on the Beginners Guide to DeFi playlist.
Here’s one of the videos from that playlist.
To learn more about picking quality cryptocurrencies and fundamental analysis, join my private Facebook Group and review the Guides section.
If you’d like to learn more about yield farming, please leave a comment at the end of this publication.
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Top 10 Crypto Predictions for 2023 👀
Bitcoin will test new lows of $10-$12K. Bitcoin miners are struggling with low BTC prices and rising electricity costs. This may cause miners to go bankrupt or merge. Additionally, if the Ripple lawsuit goes against XRP, this would be a damaging blow to crypto sentiment, driving prices lower.
The two most popular meme coins will drop another 50%. In 2021 both Shibu Inu and Dogecoin were the hottest coins in crypto, but since then, they’ve lost around 90% of their value. That trend is expected to continue into 2023. The general consensus is that these coins are mainly used for payments, and that’s not enough to differentiate themselves from their competitors. I still own a very small amount of SHIB, and I’ll continue to hodl it.
Twitter will offer payment options to compete with Venmo and Cash App. It is expected that Elon Musk will implement payments functionality similar to WeChat Pay, which would allow consumers to pay merchants for services. In November 2022, Twitter filed registration paperwork with the FinCEN to pave the way for it to process payments. Such an endeavor will likely include dollars, Bitcoin, and maybe Dogecoin (DOGE-USD).
Rumor has it that Elon may create a blockchain of his own for Twitter with its own unique token. Musk reportedly stated, "I have an idea for a blockchain social media system that does both payments and short messages like Twitter. You have to pay a tiny amount to register your message on the chain, which will cut out the vast majority of spam and bots. Free speech is guaranteed."
MakerDAO (MKR-USD) has plans to deploy $1B into US T-bills with the help of BlackRock (BLK) and Coinbase (COIN), allowing Dai (DAI-USD) holders to earn a higher yield on deposits. KKR, one of the biggest investment firms in the US, with $491 billion in assets under management, has tokenized one of its private funds in partnership with Avalanche (AVAX-USD) and Securitize.
Ripple will lose its lawsuit against the SEC. The SEC lawsuit alleges that XRP-USD is an unregistered security. In late 2022 the SEC won its precedent-setting case against blockchain-based publishing company LBRY. Considering the prominence of Ripple and XRP-USD in the digital asset space, the result of this case could have far-reaching effects throughout the industry and set a precedent for future cases. I’ve read this expected outcome from several different sources. This could be very discouraging for crypto in 2023.
Another major cryptocurrency exchange will fail this year. No one was willing to announce which exchange might fail but did offer some anecdotal info. There are ample warning signs that FTX may not be a one-time thing. For instance, just two weeks ago, accounting firm Mazars announced it would pause working with some of its crypto clients, including Binance, Crypto.com, and KuCoin. In the past, proving that reserves for digital currency exchanges are adequate has been next to impossible. That's a major red flag, and all the more reason to believe FTX won't be an isolated incident.
FED rate hikes are expected to slow down in 2023 amid declining US CPI numbers in Q4 2022. This means FED might start adding money back into the economy with quantitative easing (QE) later in 2023. This should help risk-on assets like crypto gradually move out of the crypto winter. We could see more bullish prices in late 2023 or early 2024. This would coincide with the next bitcoin halving expected in May 2024.
Metaverse and Web3 gaming will grow exponentially. JPMorgan bets the Metaverse will be a $1 trillion economy by 2023. Web3 Gaming is a major part of these forecasts, and AI-backed ChatGPT gives an example of how gamified tech can go viral in short periods of time.
The launch of central bank digital currencies (CBDCs) will accelerate. I highly recommend everyone avoid using these tokens if possible. Your every financial move will be monitored by this permissioned blockchain.
The Central Bank of Turkey plans to launch a CBDC in 2023.
Pakistan launches new laws to expedite CBDC Launch By 2025.
Bank Of England opens applications for 'Proof of Concept' CBDC wallet.
The Reserve Bank of Australia (RBA) expects to complete its CBDC pilot by mid-2023.
Having tested the wholesale usage of its CBDC, the Reserve Bank of India (RBI) is preparing to conduct the retail pilot of the “digital rupee.”
The Bank of Korea is progressing to the next phase of its CBDC development with real-world testing.
Sweden’s central bank has partnered with Norway, Israel, and BIS to test international retail payments through CBDCs.
BIS and central banks of France, Singapore, and Switzerland to explore cross-border CBDC trading and settlement using DeFi protocols.
Iran has begun experimenting with a CBDC, launching a pilot scheme in partnership with two local banks.
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Thanks for Reading 📰
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