Q1 Ends on a High, AI-Powered Investing, & Disney Retreats from Web3
Navigating Market Volatility, Harnessing AI for Crypto Portfolios, and the Latest Industry Developments
GM Velvet Fam
The first quarter just wrapped up where we saw volatile but positive overall market performance. The crypto market remains strong as the worst seems to be behind us and we may have even entered the accumulation phase of the next cycle (read about crypto market cycles here). Although the peak of bond yields and Fed tightening may be behind us, it’s unclear if a Fed pause alone can end this formidable bear market. While banking-contagion concerns have lessened, commercial real estate remains a vulnerability and that risk could spill over to all asset classes.
The recent calm in markets does not rule out the possibility of further challenges, but a more sustainable rebound in equities is expected in the second half of the year and with that, we could see a rally in other risk assets like crypto. In the meantime, investors should anticipate continued volatility and a possible economic growth slowdown, while preparing for a U-shaped recovery as inflation moderates, the Fed pauses, and earnings estimates stabilize. Patience is going to be important but if you’ve made it this far crypto frens you’re unstoppable! :)
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· Crypto exchange Kraken signed a multi-year sponsorship deal with the Formula 1 team Williams Racing.
· Polygon’s Zero-Knowledge Rollup goes live on mainnet:
· Disney dissolves its web3 division:
· Avaissance, Avalanche’s digital art incubator, is now offering an ‘Artist in Residence’ program.
· Crypto exchange OKX announced it would open an Australian office in the coming months.
· Art Blocks introduces NFT Marketplace featuring royalties for its creators.
· Ethereum’s Shanghai and Shapella upgrades will be deployed on Mainnet on April 12.
· Blockchain software company ConsenSys has opened testnet for its zero-knowledge rollup.
· Dune Analytics proposes a foray into LLMs.
· Sam Bankman-Fried pleaded not guilty to five additional charges in New York federal court.
In the News!
bZx DAO and its members might go through a class-action lawsuit for allegedly being responsible for losses caused by a security breach in 2020. The lawsuit argues that they did not provide enough security measures, leading to significant financial losses for users. This case shows the legal issues in holding decentralized organizations accountable and the necessity for clear legal frameworks to safeguard users.
Gemini, a cryptocurrency exchange founded by the Winklevoss twins, is launching a new derivatives exchange for cryptocurrency overseas. It will offer futures and options contracts for Bitcoin and other digital currencies, aiming to establish itself as a major player in the cryptocurrency derivatives market. This will provide users with more options for trading and safeguarding their cryptocurrency investments. Gemini’s reputation for security and regulatory compliance may give it an advantage over competition from established players. Pending regulatory approval, the exchange is expected to be launched soon.
Blockchain projects use crypto airdrops to distribute free tokens, incentivize adoption, and create awareness. This article explains the different types of airdrops, selection criteria, and token distribution processes. Benefits of participating in airdrops include earning free tokens, learning about new projects, and making profits through airdrop arbitrage. However, airdrop arbitrage comes with risks such as scams, market volatility, and low liquidity. Tips are provided on how to mitigate these risks and make the most of this opportunity.
Web3, the decentralized web built on blockchain technology, is changing the way businesses interact with customers. Web3 offers more secure and personalized experiences. Businesses can provide greater control over personal information, automate tasks, and create tailored experiences. Decentralized autonomous organizations (DAOs) offer new ways to collaborate and make decisions. Web3 helps build more meaningful relationships with customers and improves loyalty.
This article explores a new trend in gaming called “play-to-earn” and how it’s being used in a popular game called “Alien Worlds.” In this game, players can earn in-game currency called Trilium by mining with unique tools and weapons represented by NFTs. The article discusses how this new way of gaming could provide more accessible opportunities for people in developing countries to earn money, and how it could change the gaming industry. Overall, the article offers valuable insights into the intersection of gaming and blockchain technology.
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