🧘‍♂️If You Hold Any Bitcoin…

Dear Meditators

We experienced some gains on Wednesday following the FOMC Meeting. Those gains were promptly returned on Thursday and market conditions have been difficult since.

The situation with Celsius, Three Arrows Capital and the LFG continues to unfold. Today, as well as providing our Bitcoin technical analysis, we draw your attention to more positive updates and developments in the space.

Today’s Meditations: 

• Bitcoin Technical Analysis
• Animoca Dives into Education Technology
• Nansen’s Crypto-native Messaging App

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⏰ Top Headlines

• Biggest ‘stETH’ Pool Almost Empty, Complicating Exit for Would-Be Sellers
• Three Arrows Capital positions liquidated by FTX, Deribit and BitMEX
• Crypto lender Babel Finance halts withdrawals due to liquidity pressures
• Decentraland DAO votes to give Decentral Games $1 million grant

? Nothing to BTC Here

BTC/USD

Macro Structure: Nothing new. Extremely bearish momentum on and off the charts. $20,000 remains key support, below this we suspect we drop to $12,000.

Key Resistance: $28,500.

Key Support: $20,000.

? Too Cool For School

Blockchain technology has several use cases in education, such as record keeping of payments, credits, and credentials but there is one use case that stands out amongst the rest, intellectual property of educational content. Content creation has become a hot topic recently, especially in Web3.  Animoca Brands recently purchased a majority stake in a company called TinyTap that they think will play more than a tiny role in the market.

• TinyTap is an edutech company, with a platform based on blockchain. Founded in 2012, they have a staff of 30 employees.
• Animoca acquired 80.45% of the company for more than $38 million as well as shares. The company had only raised $13 million in previous funding rounds.
• TinyTap has a no-code platform for creating and distributing interactive content.
• Creators earn revenue based on the usage of the content.
• According to the executive chairman of Animoca, Yat Siu, “educators are among the most prolific creators and traders of content.”

Blockchain technology has already disrupted the art world and currently has its sights set on the music industry, could education be next? Leaders at Animoca Brands must think it has a shot and they believe that TinyTap will allow educational content creators to “generate their own equity”.

?You Have a Friend Request From Nansen!

Nansen announced Wednesday the launch of a crypto-native messaging app. With a web3 world in mind, Nansen Connect features encrypted messaging services for verified-wallet owners. The majority of platforms require no verification of asset ownership, while most wallet-to-wallet messengers lack end-to-end encryption, posing significant risks.

Built Better

Nansen Connect functions somewhat similarly to other wallet-to-wallet messaging platforms, with some major advantages. 

1. Competitors like Blockscan Connect are not end-to-end encrypted. Nansen Connect is. Encryption = Security. The importance of this cannot be overstated.
2. On Nansen connect, verified users can display wallet labels with such monnikers as “Public Figure” and “Elite Dex Trader”, so while anyone can right-click save a Bored Ape and start posting on Twitter, messages on NC are guaranteed to originate from wallet owners.
3. These labeled wallets make up exclusive discussion groups, providing actionable insights from verified sources.
4. In order to qualify for beta access, wallets must hold one or more certain NFTs, or be a standard, VIP or Alpha subscriber with a wallet-linked account.

If you haven’t experienced a “Pump-n-Dump!” DM yet, count your blessings. The integrity of information is invaluable, especially in the cryptocurrency industry. Nansen Connect checks all the boxes: Secure delivery of alpha from verified sources. Ready to jump in? Check out the FAQ here.

? Watch

• Watch our How to Get Rich Trading Crypto Course if you struggled with today’s technical section.

? Read

• Read the following Technical Analysis guides for more insight:

1. Moving Averages 
2. Fibonacci Retracement  
3. Volume and Open Interest  

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??‍♂️✍️ Stories in this newsletter were written by D. Beverly, Kyle F., Max P., Nick T., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Ellen B.

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. 

Disclosure. Some of the links we’ve included are affiliate, they give you rewards and discounts and earn us a commission. Additionally, the Market Meditator writers hold crypto assets. See our investment disclosures here.