🧘♂️SPOTTED: Crypto Whales Trading
Market Meditations | December 8, 2021
Powerful Tool To Watch Them.
Dear Meditators
In the last of our NFT series, we considered how the market is continuing to evolve, offering increased methods of making profit.
Today, we consider how to use Nansen to track emerging sub-sectors, helping us to understand what is really going on in the NFT space.
To do this we will leverage Nansen’s Bluechip Index.
Today’s Meditations:
? Top Crypto Market Updates
? Solana x Metaverse: Solice Deep Dive
? Nansen x NFT Tutorial: Ultimate Tracking Tool
? Could this be… Satoshi?
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⏰ In A Rush?
? Finding Solice
Big investors in crypto follow the hot narratives, and if there’s one thing that’s hot right now it’s the metaverse.
Leading investment funds are throwing cash at a new play-to-earn project called Solice.
Here’s what you need to know:
Solice will develop a “VR-enabled metaverse” on the Solana blockchain, to allow users to “play, build, own, socialize, and monetize their virtual experiences.
The project will bring together play-to-earn gaming with DeFi and collectibles.
The seed round raised ~ $4 million and the lead investors were Three Arrows Capital, DeFiance Capital and Animoca Brands.
VR projects can take years to develop, and Solice will be relying on a technology provider called VSWORK, founded in 2018.
Solice’s roadmap shows a soft launch in Q1 2022, following a public IDO at the end of this month. The public sale will take place on Solanium, a Solana launchpad.
Competitors include Decentraland and The Sandbox, which have attracted attention with recent price bursts. They recently partnered with Polygon to help reduce Ethereum fees.
So, a promising project or just another hype train? For more information the whitepaper documentation is here. And to brush up on your terminology check out this article, which highlights some of the differences between virtual reality and the metaverse.
Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool.
? NFTs: The Good, The Bad and The Bluechips
In traditional markets, a blue chip asset represents a well-established company with a long term track record of performance.
Such assets make up market indexes such as the S&P 500 and are consistently used as an industry benchmark due to their ability to remove the noise of new and poor performing assets.
Given the saturation of the NFT market, this method is particularly ideal.
The Nansen Bluechip Index looks at a basket of 20 established NFT collections selected for their high liquidity and market cap.
This list is updated on a quarterly basis and consists of well known projects including Crypto Punks, Bored Ape Yacht Club, VeeFriends and Meebits.
1️⃣ Blue chip activity over 24 hours
Nansen.ai: 08/12/2021 – Bluechip NFT volume over 24 hours
This chart demonstrates how much volume is currently dominated by just two collections within the Bluechip Index – Bored Apes and Cryptopunks
2️⃣ Bluechip Activity over 3 months
Nansen.ai: 08/12/2021 – Bluechip NFT Index. Market cap and volume over 3 months
The graph shows that both the market cap (the combined value of all the NFTs in a collection) and volume transacted of Bluechip NFT projects are on a downtrend and have been for the last 3 months.
Whilst there have been short term spikes in trading activity, this has only acted to stall the downwards trend.
? Conclusion
As the NFT market matures, we become more able to track key metrics that help us understand when to enter and how to profit from the sector.
Nansen provides actionable information which we can then use as a benchmark to understand long term performance, cutting away the noise.
Once we understand the long term trend, we are able to decide whether we want to actively participate in the market, or turn our attention elsewhere.
Bottom line? Get up to speed with Nansen insights to prepare for top trends in crypto in 2022, such as NFTs.
With Nansen’s On-Chain data, you can secure an edge in the crypto and NFT markets:
? Exciting New Opportunities. See where funds are moving their money.
? Perform Due Diligence. Get more information on projects or tokens.
? Defend Your Positions. Create smart alerts to track over 100 million ETH wallets.
? Track The Biggest NFT Traders. See what the most profitable NFT wallets are investing in
To grow your crypto portfolio today check out the Nansen website. Currently, they are running a 7 day trial for just $9. Link here ?
₿ Who Is Satoshi Nakamoto?
Since the origins of Bitcoin, many have asked the question, who is Satoshi Nakamoto? The writer of the Bitcoin Whitepaper, the original cryptocurrency, used a pseudonym to remain anonymous for fear of government intervention and backlash.
Though anonymity was initially sought, Australian computer scientist Craig Wright has made multiple claims that he is Satoshi Nakamoto in recent years.
Many hoped the outcome of a recent trial would shed light on the subject:
The brother of Dave Kleiman, a computer scientist who passed away in 2013 (long before seeing bitcoin reach the $50,000 price tag it has today), has alleged that his brother helped Wright create and mine bitcoin, but Wright claims to be the sole creator.
Just this week, the jury concluded that Wright did not owe the Kleiman estate $600 billion worth of bitcoin, but he was liable for illegally taking property and awarded damages to W&K Info Defense Research LLC, the entity through which Kleiman and Wright are supposed to have worked together.
This trial has been ongoing for years and has seen appeals before. Once Wright agreed to pay 500,000 bitcoins to the Kleiman estate but later claimed to have lost the keys to the bitcoin in question and could no longer afford the settlement. He now claims the jury’s latest findings confirm his identity as the creator of bitcoin, but skeptics would like to see the bitcoin move from the long silent wallet that is thought to belong to Satoshi Nakamoto.
You may never claim to be ‘the Satoshi’ but the lesson here is to not only keep your keys safe but prepare your family to access your funds by following our Crypto When You Die Guide.
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??♂️✍️ Stories in this newsletter were written by D. Beverly, Isambard FA, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.
Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
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