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DeFiGaming & MetaverseInfrastructureMarketsNFTs
$SIPHER, $BTC, and $PENDLE
Shaun Ko
main
Key Takeaways
3 min read
  • Discussion on using DEFI Llama and Nansen Dashboard for project insights.
  • Caution against coins with large VC raises.
  • Market observations: Ethereum and Solana stable, Bitcoin hits new lows.
  • Inquiry about FOMC's market impact.
  • Decent transactions observed on Dmarket.
  • Investment activity in UltiverseDAO noted.
  • Discussion on sudden Bitcoin price drop.
  • Interpretation of Hashkey's PENDLE withdrawal as a buying opportunity.
  • Movement observed with Enso and Cow Tokens.
  • Discussion on NFT investments and valuation concerns.
Source: Nansen Query

Community Channels

War Room

Use of Nansen Dashboard and DEFI Llama

  • Members discussed the use of resources like DEFI Llama for generating data about under-development projects. One member expressed interest in finding chains with development timelines similar to their own.
  • Members made use of a Nansen dashboard, as confirmed in the conversation. The dashboard link was shared: Nansen Dashboard

Discussion on VC Raise Coins

  • There was a narrative among the members about avoiding big supply unlock coins, particularly those with large VC raises. Members felt that the crowd has become more sophisticated compared to previous cycles.
  • A link was shared regarding this narrative: Eugene Ng Ah Sio on X

Alpha Hours Thursday Sessions

  • Members asked about the recordings of the alpha hours Thursday sessions.
  • A member confirmed that the recordings are posted on a Discord channel, and shared the link to the last week's recording: War Room 25 April 2024 (Alpha Hours)

Market Observations

  • Members noted that Ethereum and Solana didn't go below their April 13 lows, while Bitcoin made new local lows.
  • One member questioned whether the market had bottomed out.

Discussion on Project Competitor

  • Members discussed a tweet from Emin Gün Sirer about a project allegedly admitting to stealing funds from their biggest up-and-coming competitor: Emin Gün Sirer on X
  • One member dismissed the tweet as just a shitpost from friendtech.

Insight on FOMC

  • A member asked for insights on FOMC, wanting to know if it was bullish or bearish.

Dmarket Transactions

  • A member noted that Dmarket was doing decent transactions on-chain Mythos. Dmarket is a skin trading marketplace for games like CS:GO.

Tokens

UltiverseDAO Investment

  • A member mentioned that a user named 'dingaling' sold his $SIPHER and borrowed 150 ETH with his PRIME as collateral to invest in UltiverseDAO.
  • The member shared two links. The first one was a tweet from dingaling confirming the investment in UltiverseDAO. The second link was a Nansen profile showing that UltiverseDAO is receiving significant commitments.

Bitcoin Price Action

  • Members discussed the sudden 5% drop in Bitcoin's price in one candle. One member humorously suggested that another member should go back to bed, hoping it might send the price back up.

PENDLE Withdrawal and Investment

  • One member noted that Hashkey withdrew 750k USD of PENDLE in the last 24 hours. This member interpreted the withdrawal as a buying opportunity, either because Hashkey had just bought more PENDLE or decided to hold 178k from the 500k they sent. This member followed Hashkey's trading patterns as it worked well with their last withdrawal in March.

Enso and Cow Tokens

  • A member reported some movement from Dialectic and Blockchain Capital, who were converting vCow to Cow.
  • The same member also shared that Spartan Group, an investor in Enso, announced big news and a plus token would be coming soon. The member suggested that Enso is currently quite significant and might be overlooked. Another member found this information interesting, noting that Dialectic is also an investor in Enso.

Exploit Warnings

Web3 Anti-Scam Awareness

  • Members shared a post from Scam Sniffer warning about wallet drainers using IPNS (InterPlanetary Name System) to make IPFS links appear more legitimate. They advised to always verify before clicking on these links.

Degen Bets

NFT Investments

  • Members discussed a certain individual (bmwmaxi) buying more $DOG, expressing surprise and speculation about potential inside information.
  • They discussed the valuation of a particular NFT, which is a fractionalized picture with a market cap of 175 million. They compared this with another instance of a 'wif dog' NFT being bought for 4 million, suggesting that the valuation for the picture NFT may be overestimated.
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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.