Crypto-trading thread

1,097,411 Views | 10842 Replies | Last: 5 hrs ago by jamey
Yukon Cornelius
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AG
Here's a really good source for the on chain metrics. Cut through the noise and just look at the data. It's pretty crazy how many chains there really are to me.

https://defillama.com/chains

You can sort by ranking different metrics. Like amount of stable coins on the chain. Tron comes in second and very strong numbers and you really don't hear much about them. I've never used them or own anything but seeing them ranked so high surprised me.
LatinAggie1997
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Grief, dediLlama doesn't count Cardano's staked ADA in their TVL metrics. Why? Because Cardano has liquid staking with no locked period. You can unstake your ADA at anytime and move it around unlike other ecosystems, where you must wait for the lock period to end to do anything with your token.
It's a crap metric, because the amount of ADA staked is almost always between 70-80% of supply, so it's not like the staked amount has major fluctuations making it inaccurate to include in a metric like TVL.


Outside of that defiLlama is a good source and mostly accurate.
LatinAggie1997
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Eth fans, what's going to happen when CB takes over the network, especially having bought an equity stake in Circle. Let's not forget that institutions are buying up lots of Eth and that CB is the biggest custodian of their assets.

I see major issues that COULD arise, not definite, but i would be weary. Factor all the ETH Treasury companies and the token could easily slide way down once all the money is in, control is taken, and leverage gets out of hand.
Thunderstruck xx
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I think the estimate I saw was that Cardano would have a TVL of $14B if the staked ADA was included. That puts it at the #2 spot in terms of TVL.
jamey
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AG
Leander
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AG
LatinAggie1997 said:

Grief, dediLlama doesn't count Cardano's staked ADA in their TVL metrics. Why? Because Cardano has liquid staking with no locked period. You can unstake your ADA at anytime and move it around unlike other ecosystems, where you must wait for the lock period to end to do anything with your token.
It's a crap metric, because the amount of ADA staked is almost always between 70-80% of supply, so it's not like the staked amount has major fluctuations making it inaccurate to include in a metric like TVL.


Outside of that defiLlama is a good source and mostly accurate.


The point is, no one's actually using the chain. Sure people stake to earn ADA rewards, but that's not actual usage. TVL is intended to measure chain activity. Cardano has very little. Don't worry though, I believe this week some good news is coming to ADA holders.
Leander
LatinAggie1997
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"Nobody uses it."

Incredible how so many repeat the same bs. Now, if you want to discount all the wash trading that happens on other ecosystems you'll have a better idea.

I look forward to the day when Cardano magically has users and utility as if overnight. That will be the excuse by many. It was vaporware and then now it finally did what it was claiming to do after 8 years, but before today we were right.
Leander
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I'm not sure how much wash trading you think is occurring, but I can tell you it's not much. Pump.fun and Axiom are two of the fastest growing companies in history, both are built on top of Solana. And I assume you think all that is fake?

Do you even use Cardano? If so, for what?

Leander
LatinAggie1997
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Well, 24hr trade volume on Cardano has been over 3B, which is more than BNB, for 5 straight days, which in your world suggests "nobody".
Leander
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AG
Yeah… there's a reason Cardano volume is up the last few days. But that's not what we're talking about, we're talking about onchain usage. Do you use Cardano? And if so, for what?
Leander
LatinAggie1997
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Solana is a centralized patchwork blockchain that happens to have some good tech.
LatinAggie1997
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Leander said:

Yeah… there's a reason Cardano volume is up the last few days. But that's not what we're talking about, we're talking about onchain usage. Do you use Cardano? And if so, for what?



I hodl. Period. Should I want to lend or borrow i could. Should I want to create NFTs i could. Should I want to play game, Cornucopias, i could.
Should I want to buy a book or listen to music i could. Etc.

Edited to add : I could use an AI agent (AgenT) to trade for me but I would need to do research, and have the desire to trade.
BucketofBalls99
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Just curious…yalls wealth of knowledge on all of this is crazy plentiful! I do enjoy reading it as I honestly don't know much about all of this, but am wanting to know more. What are your backgrounds? Do y'all deal with this directly everyday in your day to day jobs? Or has it just been accumulated through reading about it over the years? Sorry, not trying to be nosey, but yall just have so much knowledge on all of this.
LatinAggie1997
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I began research in 2017, after suffering 2years of a friend rattle on about Bitcoin, and made my first purchase in early 2019. No exaggeration- I read for 2-3 hours daily from late 2018 to early 2020 about blockchain, public ledgers, cryptography, etc.
I found multiple articles discussing this new disruptive tech, a transformative technology that will be the next big thing.
This was late 2018 ish so it discussed Bitcoin, Ethereum, Tron, Cardano, and Chainlink. I researched their whitepapers, the teams, their roadmap, and started to note the goals, the obstacles, and the possibilities.
I've been very lucky to have never been scammed, rug pulled, or hacked (knocking on all wooden things).
I never buy because of an influencer. I use them for daily news.
I follow and communicate with devs on discord and X, even the tokens I don't own. It gives me a good idea of the landscape. I speak to people within the space that have experience, are apart of projects, or are wanting to get into the space. It gives me a solid idea of what people ha e thought and are thinking. It makes easier to weed out bad actors and to truly see what is a pipe dream versus what is likely.
I have a couple of friends in my circle that do these things, as they are into coding and programming, and can give me their thoughts.
They agree with me on most things but they also own a few that I do not. XRP, Aave, ETH (I owned it for 2+ years but couldn't rationalize keeping it, too expensive, not scalable, no fixed supply, holes in the foundational architecture, etc.)

Do your own research from multiple sources. Read what the fans say and what the naysayers say to help assess if it's an agenda or a technological reason they don't like something.
Yukon Cornelius
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Cardano has a whopping 3.6 million in daily dex volume. Dead chain. Shilling it like it's not is complete dishonesty.

MAYBE something changes in the future. But as of TODAY. Ghost town.
https://defillama.com/dexs/chains



Yukon Cornelius
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I do private equity/VC and an assortment of other investments. Crypto is my hobby.
LatinAggie1997
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Low dex volume but high staking, has always suggested long term outlook. The ADA community has diamond hands and with major catalyst on the horizon it makes zero sense to not hodl.
New Cardano wallets have increased significantly which is a telling metric.

Sit back and watch the show over the next 60 days. It's going to get interesting in one direction or another.
LatinAggie1997
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Now I know why you are tethered to all the TradFi moves.
Yukon Cornelius
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AG
You know nothing of it. False assumption.
Yukon Cornelius
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AG
I hope you make a lot of money with your ADA bags. I really do.
Leander
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I work on the institutional side of the industry. It's a blessing and a curse.
Leander
LatinAggie1997
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Haven't you been preaching about "whatever JP Morgan " says/does?

It's a slippery slope. The ethos and function of crypto was to get away from TradFi and legacy banking. One of multiple reasons I prefer truly decentralized blockchains with no vc backing.

Edited to add:
We can see the Trump's giving speeches regarding how they used to be able to secure a 50 million dollar loan with one phone call. As soon as dad came down the escalator "we became personas non grata". They were de-banked by their own circle of friends over political ideology. Eric and Don Jr are always giving speeches on the importance of decentralization.
Now, how far into that rabbit hole of self introspection they are willing to commit to is a different variable. However, I think those realizations come back full circle to blockchains like Cardano.
LatinAggie1997
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AG
I hope everyone does well, but obviously some will do better. I truly wish the tribalism would give way to interoperable mutualism.
Yukon Cornelius
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AG
https://www.visa.com.sg/content/dam/VCOM/regional/ap/singapore/global-elements/documents/interim-report-e-hkd-pilot-programme-phase-2.pdf
jamey
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I would have to upgrade the power of my readers to know what that said
LatinAggie1997
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These standards need to
address several key concerns: (1) compatibility of tokens with
each other and financial applications, (2) security measures to
protect against fraud, hacking, or other misuse of funds, and (3) compliance with regulatory requirements. Within the context
of the Ethereum public network, and other EVM-compatible
networks, two prominent token standards that have been
considered in discussions about tokenized money are ERC-
20 and ERC-3643.


This paragraph and the "testing public vs private" are telling. I will be extremely interested to see how they can achieve addressibg the 3 concerns, not to mention scalability.
I have a very small sneaky feeling Harmony One might show its head being it was originally an ERC 20 token and BNB BEP 2 token, is faster, less expensive, and interoperable.

Yukon Cornelius
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AG
AgShaun00
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AG
jamey
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AG
No idea how good.this guy is, but he put in some work

LatinAggie1997
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AG
I'm hearing there's lots of liquidation potential at $3,600- $3200 levels, be ready ETH fans to buy the dip if it does drop towards low 3s.
AgShaun00
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interesting

Yukon Cornelius
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It'll come down to revenue from staking. The companies with more staked eth will obviously generate more eth. And it'll attract more liquidity and snowball. Tom Lee has it figured it out. Also BMNR used to mine btc. So if I understand it correctly they will run the actual eth nodes instead of using a pool. Which means their percent on staked eth will be higher than anyone in a pool.
Yukon Cornelius
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Tom Lee is a chad
Leander
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A good dashboard for comparing these DATs. Obviously a lot of info is missing and it would be nice if they showed how each of these are structured, but this is still valuable.

ETH's BMNR and SUI's MCVT are the two trading at the highest premium for the time being.

You're going to want to exit these once premiums collapse. A few are already trading at a discount to NAV.

https://blockworks.co/analytics/treasury-companies
Leander
Heineken-Ashi
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Whoa. This guy gets it!

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