Make The Most Of Crypto & More In This Week's Round-Up (May 27)
Ben Simpson
Navigating the world of crypto with confidence & expertise | Founder & CEO of Collective Shift | Helped 1000+ investors maximise their returns & create a winning portfolio strategy
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Welcome back to our Weekly Crypto Round-Up for Friday, May 27.
Despite bearish market conditions, funding for crypto keeps on coming, with a new $4B fund from venture powerhouse a16z.
Crypto funding, Terra's new blockchain and hidden alpha from Matt top our week in crypto!
A lot to get into, so let's jump into it??
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???The Week In Crypto
BTC continued to fall for a historic 8th weekly close amid more unsettling macroeconomic conditions.
There appears to be a lot of uncertainty in the market, as we are approaching big central bank decisions by the Federal Reserve and European Central Bank in early June.
As expected, the bearish sentiment shows up in the data, with Messari?reporting ?the Fear and Greed Index hit its lowest levels since the March Coronavirus market crash.
Despite the bear market, more money is flowing into crypto venture funds.
Andreessen Horowitz's (a16z) 4th crypto fund will deploy $1.5B for seed investments and $3B for venture investments through web3, DeFi, gaming, infrastructure, scaling and NFTs.
a16z was not alone, with a series of other raises:
- $100M?raise ?for Starkware.?
- $135M?round ?for LayerZero.
- $100M fund?from ?ex Binance executives.
- $50M fund?backed ?by Marc Andreessen and Chris Dixon (a16z).
- $40M fund to?develop ?blockchain-based games.
Terra Labs creator Do Kwon's plan to rebirth the Terra blockchain passed with 65% of the community vote.?
This will result in a new Terra blockchain without UST, with tokens airdropped to selected LUNA and UST holders. It follows the sudden?collapse ?of the TerraUSD (UST) algorithmic stablecoin last week.
Mainnet is expected in the following days—the original Terra will be renamed Terra Classic (LUNC) while the new chain will be called Terra (LUNA).?
It appears many exchanges will support the change.??
Click through for?more information ?on the LUNA airdrop.
*Correction: last newsletter we reported the new Terra would be a hard-fork. This is incorrect. Terra 2.0 would share no history with the original Terra making it a completely new blockchain—both Terra and Terra Classic will run in parallel.
GameStop launched a non-custodial browser-based Ethereum wallet. It lets users store, transact crypto or NFTs and is integrated with its upcoming NFT marketplace (set to launch in Q2).
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It comes as Robinhood and Ledger last week announced their own MetaMask competitors.
With Ethereum's testnet, Ropsten, set to go through final major preparations, an Ethereum Core Developer said an August merge is likely "if everything goes to plan".?
Seaport is designed for all NFT builders, creators, and collectors to buy and sell NFTs safely, focusing on "new and evolving use-cases".
It comes amid hot competition from Solana NFT marketplace Magic Eden who've shown substantial NFT volumes.
???Best From The Archives
The team has been busy working on new products, content and new YouTube videos!
It's been a quieter week for our free YouTube content—but don't worry, we'll be back next week with weekly videos and insights into crypto markets!
But for now, enjoy some of the best Collective Shit YouTube videos you might have missed! ??
???Improve Your DeFi Research (& How NOT to Wreck Yourself)
Hear how Matt discovered early DeFi projects, his journey through crypto investing and how to level up your research skills.
?? Tax Specialist REVEALS Crypto Tax Secrets In Australia
Ben discusses crypto taxes in Australia with Adrian Forza, a Tax Specialist agent from Crypto Tax Australia.
?? How To Structure Your Crypto Portfolio?
Ben walks you through ways to structure your crypto portfolio and the different strategies and considerations for beginner, intermediate & advanced users.?
?? Assessing Post-LUNA Conditions: Inside This Week's Free Article
Checkmate assesses the aftermath of the LUNA fiasco and looks for changes in investor behaviour patterns.
See his?post ?on the Member Platform.
?? Best From The Collective Shift Community
Inflation or deflation
The community came together to debate and dive into an interview with Cathie Wood (CEO /CIO of Ark) and Nancy Lazar (Chief Global Economist at Piper Sandler) discussing inflations heading.
#trading: NFT 2.0 by Harvard Blockchain Research
Head of Research and Content Matt was active as ever in Discord! Sharing some fantastic research by Harvard Blockchain Research into NFT 2.0 investing. A lot of alpha on future trends!
Matt also made members aware of some confusion around Solana marketplace Magic Eden's data reporting. For now (at least), OpenSea remains the most used NFT marketplace.
?? Wrap Up
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