Overview

· Market Update

· Market Insight

· Major Market News

· Notable Events

· NOOBIES: What is web 3.0?

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Market Update

· Bitcoin (BTC) is down 1.36% after a strong early morning move to 59k that was later quelled by Fed Reserve comments.

· Total Market Cap (TOTAL) is flat -.21% despite the drawdown in Bitcoin.

· Bitcoin Dominance (BTC.D) plunged -1.75% showing that investors are still showing confidence in altcoins despite the negative news surrounding Omnicron and Fed tapering.

· Metaverse projects are showing signs of cooling off.

o MANA -4%

o SAND -4%

o DVI -8%

o WILD -16%

o POLC -12.5%

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· Stacks (STX) the bitcoin smart contract protocol, is showing strength today + 33%. This was covered in various past reports as a beneficiary of the taproot upgrade in bitcoin.

· Terra (LUNA) is up 15.88% today bringing it up 58% in the past four days despite a fluctuating overall market. LUNA is benefiting from the adoptions of UST. This past report covers LUNA and UST.

· Notable gainers and losers from the watchlist:

o KSM +7%

o OCEAN +20%

o MOVR -8%

o RNDR -8%

o ROSE -9%

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Market Insight

The market was primed for a bullish day until Fed Reserve Chair Powell announced the Fed will begin adopting policy changes to battle current inflation problems. The news pulled the struggling stock market down -1% and Bitcoin -1.70% in an hour.

The tapering could have large implications for stocks and crypto markets as both have benefited from a loose monetary policy. The current policies would have likely continued but inflation is becoming hard to ignore, reported to be at a 30 year high of 6.2% in October. This report covers the latest inflation numbers. Don’t expect any drastic tapering measures as the economy is still recovering from the COVID crisis but small policies changes will come. Growing concerns of new variants are contributing to sentiment the economy still has a long way to recover. These reports will continue to monitor the policy changes. Crypto is considered risk-assets because of their high volatility. Risk-assets historically suffer the worst during market selloffs and bear markets that may be triggered by monetary policy adjustments.

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Major Market News

· Treasury Secretary Janet Yellen has clarified that some non-custodial entities won’t be subject to FATF crypto standards. This is an ongoing attempt to draw the lines for crypto law in the US.

· Bitcoin mining company Griid to list on the NYSE via a spac deal with a $3.3 billion valuation. Griid will focus on carbon-free mining.

· Lawmakers in South Korea have decided to delay crypto tax provisions by one year, meaning crypto gains will not be taxable until 2023 at the earliest.

· The stock market and crypto market have a large correction after Federal Reserve Chair Powell mentions that there will have to be policy changes to battle inflation. Powell has accepted inflation is not a “transitory” issue and eyes tapering, which means less money printing.

· Grayscale argues the SEC’s bitcoin ETF rejection could violate the Administrative Procedure Act (APA). This could spark entities putting greater pressure on the SEC to approve a spot Bitcoin ETF. The SEC recently rejected a VanEck spot ETF earlier this month. A spot price ETF will allow institutions to invest directly into Bitcoin via the stock market. Grayscale is attempting to transform their current BTC treasury into a spot ETF.

· In other Grayscale news, they have launched a SOL-backed trust allowing institutional investors to gain exposure to Solana (SOL). This is very bullish news for SOL.

· Avalanche has raised another $18.5M seed fund to help accelerate the growth of the ecosystem.

· Crypto.com (CRO) has teamed up with California State-Chartered Silvergate Bank to allow institutional investors access to withdraw and deposit USD into the crypto.com exchange. This is big news for CRO and may already be priced.

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DOT Crowdloans: ASTAR NETWORK, the future of web 3.0

ASTAR NETWORK

Astar Network is the multi-chain Polkadot DApp Hub that supports Etheruem, WebAssembly, Dapp Staking and Layer-2 solutions. It additionally supports Defi and NFTs. It’s a chain focused on interoperability and primed for the future. Astar is posing to be the next Parachain winner which ends tomorrow.

The Now

Ethereum is where a majority of smart contract money and developers reside. To siphon some of these resources, interoperable chains must attract and incentivize these developers to build on their network. Being Ethereum Virtual Machine (EVM) compatible means that Ethereum Developers can build on your chain or fork protocols that already exist. Aster and Moonbeam are the Polkadot chains that will support EVM. EVM compatibility blockchains can thrive in the current crypto environment by using already existing resources such as developers.

The Future

Polkadot (DOT) aims to facilitate innovation. Astar Network is set to be one of the major vehicles to accelerate this purpose. Being that Astar not only supports EVM and many other chains (the now), it also supports WebAssembly (WASM) a major tool in taking Website development into a new era. Astar will eventually support faster protocols, user friendly lay-outs and evermore interactive webpages. It will further support the innovation which will help lead Polkadot and crypto into web 3.0. This is the future web which will integrate all the utility of blockchain (privacy, data ownership, payments, NFTs, defi etc..) into a user-friendly web.

Astar has everything going for it as a protocol. Big funding, a lot of development, strong outlook and it will soon have a Parachain. The tokenomics are an engineering mystery but they appear to be self-balancing to reward all the players accordingly. This is one of the top projects on Polkadot and will play a huge role in the future of blockchain and internet integration. For these reasons I am personally investing into Astar Nework. Remember, always DYOR before investing into any project. Here is a link to ASTAR’s webpage.

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Notable Events

• · Qtum (QTUM) is halving tomorrow. Halvings are typically very bullish new for chains.
• · Harmony (ONE) is implementing Cross-Shard transactions. ONE has many upgrades scheduled for this month that could help bring a lot of attention.

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NOOBIES: What is Web 3.0? pt.1

Web 3.0 is considered the next step in the internet’s evolution. It wouldn’t be fair to condense to a couple of paragraphs, so instead I’ll unfairly condense it to an outline. To understand web 3.0 you must understand web 1.0.

Web 1.0

• · The early days of the internet
• · Users visited static webpages on a server
• · First web browsers
  
• · Very little interaction from websites back to users

Web 2.0

• · Currently in this stage
• · Also known as participative web or social web
• · Allows collection of user data for customized user experience
• · User-Friendly experience
• · The emergence of social media, video/image sharing, blogs, podcast and Virtual Communities
• · Allows integration of documents into the web. (Adobe)
• · Companies profit off user data, allowing the growth of giant conglomerates (Google, Apple, Facebook, Amazon)

Web 3.0

• · Web 3.0 is more of a set of ideas of what the future web may look like
• · Internet returned to users
• · According to the Web3 foundation, it will integrate blockchain technology to give the users ownership of their data
• · A move towards decentralization
• · Will allow for the better integration of DAOs.
• · Will integrate user-friendly models for currently complex blockchain interactions
• · 3D graphics
• · Artificial intelligence

Now that we have a basic idea of what web 3.0 may look like, tomorrow we’ll dig a little deeper into the subject and learn about the web3 foundation and Dr. Gavin Wood.

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I was traveling all morning so the report will be sent out a lot later than usual. Remember to keep an eye on the Parachain auctions, I still believe they are some of the best investments in crypto. And don’t forget to keep accumulating!

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Thanks for reading. Have a goodnight fam!

-TraderGabi