Friday’s market close could lead to a final drop in the market.

11.08.2023

Dear traders,

The market remained unchanged after the release of inflation data and is still awaiting the next significant movement.

Jake
TOP Trader

BTC continues to hold its support at $29,500 and is currently consolidating before its next move. Be prepared for an upcoming significant price shift.

ETH is still trading below the resistance level of $1,870, consolidating just beneath this line. It requires more substantial buying pressure to initiate an upward bounce.

XRP is still trading below the mid-$0.6 zone channel and is awaiting the next significant price movement. However, there is an ongoing risk until any bearish market news is cleared.

LINK is currently trading in the mid-$7 zone and needs to breach the $8 mark for a stronger push. This provides an excellent entry point for long positions and presents an attractive long-term buying opportunity.

SOL has found support at $24.2, indicating a potential upcoming upward movement. This is a favorable position for long-term investments.

EOS is trading within the mid-$0.7 range and requires a more substantial upward momentum to achieve a bullish breakout. While it remains a suitable option for long-term investments, a significant push is needed to break the resistance.

LTC has rebounded from the $78 support level and aims to surpass the $88 resistance. This offers an excellent opportunity for long-term investments.

The DXY is exhibiting a bullish breakout, with the next target set at 103.

Crypto/stock daily news:

2-FOR-1 SPECIAL: CRYPTO USE CASES

We’ve got a 2-for-1 special for you.

For a limited time, we’re giving you one (free) use case with another (free) use case.

That’s because we want you to know more real-world examples than just “Make Nerds Rich”.

Capiche? Cool. Let’s dive in…

USE CASE #1: RESEARCH FUNDING

There are 3 big problems in the medical industry right now:

There are 7,000+ rare diseases that affect 8-10% of the global population.
Getting funding to develop cures for these rare diseases is hard as f*ck. (Big pharma companies won’t fund these projects because they won’t make as much profit.)
If a cure does exist, it’s often too expensive for patients to afford

You can boil it down to one core issue: big pharmaceutical companies are in charge.

And while the main priority should be developing treatments and cures to help people, the reality is it’s to make money.

In the words of the great Wu-Tang Clan:

“Cash rules everything around me. (C.R.E.A.M)

Get the money. Dolla dolla bill y’all”

The solution:

Create a community of patients, scientists, medical partners, and other people who truly care about curing rare diseases
Raise money through a governance token
Let members vote on which proposals get funded & developed

Smaller projects get money and community members get a say in where the money goes. It’s a win-win.

USE CASE #2: TRADEABLE MEMBERSHIPS

Memberships come in all shapes and sizes.

Basic gyms can cost $250/year. While other country clubs can cost $250,000/yr. You get exclusive access to facilities, equipment, services, interesting people, etc.

(btw – for $250K/yr I better have cashmere towels and grapes fed in my mouth)

But no matter what the membership is, they all have the same issue – they aren’t tradeable.

Let’s say you move away from the country club. Suddenly, your membership card is useless. All the fees you paid go down the drain and you’re only left with *distant memories*.

The solution: turn memberships into tradeable assets using NFTs.

You can buy the NFT to unlock the perks and benefits
You can sell the NFT when you don’t need the perks and benefits anymore

Not only do you make some of your money back, but you could also make a profit. (if demand for the membership increases → the price could increase too)

There are a handful of companies that are already trying this out.

Etihad Airways recently released an NFT that gives holders benefits like Etihad Guest Silver Tier Status, priority check-in, lounge access, and the ability to stake their assets to earn miles. Pretty cool stuff.

Well, that’s a wrap for today’s use cases. Til next time my friends.

P.S. – You might’ve just felt a tingling sensation. Don’t worry, that was just you jumping up to the top of the Pyramid of Intellect™.

FAST NEWS:

19% of New York residents own crypto, according to a recent report. It’s a NY State of Mind.

Maple Finance is opening up its lending pool to accredited U.S. investors. The pool generates a ~4.7% yield with U.S. Treasury Bills and will be open to investors with an average income of $200,00 per year, or already working in the financial industry.

Microsoft is teaming up with Aptos blockchain. The partnership has been in the work for 5 years and will integrate Microsoft’s Azure OpenAI Service into the layer 1 blockchain.

18 VC firms got named in a lawsuit for aiding and abetting FTX’s fraud. Some of the big names include Temasek, Sequoia Capital, Sino Global, and Softbank.

SpiritSwap will shut down on September 1st. The decentralized exchange on Fantom is ceasing operations after it was affected by the $126M multichain hack in July.