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Daily Defi: REEF, KAVA, INJ – Crypto News July 2021

Welcome back to daily d5 today is May 26th of 2021 Wednesday today we’ll be covering kava injective protocol reef, bitcoin mining band in Iran, as well as GameStop, hinting at a new NFT project on Ethereum. I think they’re actually going to go ahead and do this. I think it’s really great what they’re building here and then always we kick things off with juicy NFTs, seeing a nice volume and d5 pulse. So, let’s get right into it. The total value, locked and decentralized finance six sits at 63.

billion dollars. We’Re tracing off these lows here, popping down to that 50 billion levels, um of about 10 billion, where we were at you know, 87 to 86 billion dollars. Maker dominance is at 15.4 percent. Well.

D5 pulse index is up about 18 on the daily for 413.1 now maker, aven compound all of the top three lending platforms, but by total value locked in if you’re, measuring them by that um. You know they’re all above a billion dollars locked in. So that’s good to see now onto juicy NFTs. One of the things you have to realize here is: we had been seeing kind of that pullback where volume wasn’t really seeing the spikes, but I think kind of based on this GameStop news.

We could have seen some of this rally back in the non-fungible token market, I’m looking at this from a long-term perspective. So you know, short-term volatility doesn’t really scare me. I think it shakes out a lot of weak hands in the market. So up about four thousand eight hundred and eight percent, I’m at five hundred seventy point: eight six, three thousand dollars: um GameStop, hinting at new NFT project on Ethereum this. What we’re going to talk about next?

So I think this could be a very interesting play for this company. You know a lot of people are guessing okay. What is GameStop going to do next? You know they had this kind of speculative fever um with the game, but if it was a tokenized version of GameStop and it was put on the blockchain, it would be a bit different because you could actually freely trade it, whereas with GameStop you know you have All these companies – and it has a giant short interest, so it really what it comes down to. Is it’s really just a momentum stock uh you with momentum stocks, it’s not really trading at fundamental value.

It’S more trading at sentimental speculation and um. Gamestop is basically saying that they’re gonna create their own non-fungible token marketplace. Now some people are going. You know everybody’s creating their non-fungible token marketplace. Well.

This could be a lot different because I think what they could do is actually utilize their brick and mortar stores, so they could utilize their uh their factual physical space to display some of maybe the top NFTs and could kind of become almost like a collection. Um, a place like let’s say instead of sending up the new video games because the things that I see is it’s okay, why are people what’s the most games? The app can currently innovate. Well, maybe they can innovate on the experience of people like receiving physical CDs, but that’s so outdated. To be honest, you know I again I’m not too involved in the gaming space, but I would guess that a lot of people can just download games.

Now they don’t need to go anywhere physical and um. This is very important to understand, because if people don’t need to go anywhere physical, why would they go into the games up store? So why would they buy from GameStop? Why would they buy from the middle man? Why wouldn’t they just go straight to the company and buy it online, and this is where they need to innovate uh, so I think the non-vulnerable token market could be awesome, but uh.

This is kind of all speculation. At this point I just see you know this company is needing a pivot and I think that that could potentially be a decent pivot point to be quite honest, um that GameStop could move to now moving on to coin telegraph, so this is uh article basically focusing On Iran and how bitcoin mining was actually banned until September, so Iran’s government has placed an immediate embargo on bitcoin and crypto mining to preserve electricity over the summer months. So this is a very big topic going on and we really maybe I’ll do a detailed video into bitcoin’s clean energy um debacle because I think the problem is people are comparing it in a vacuum, so people are just going okay. How much energy does bitcoin take up and they don’t compare to okay? What do the energies of our current system take up?

Do you know what is ours? What is our framework apologize for that a little alarm there um? What is our current framework forum, green energy, future and bitcoin? Could actually fit into that and that’s kind of beauty, especially when you look at the financial system um and how much it currently wastes. So the recent crackdown on BTC and crypto mining in Iran has reached a nudist dimension with the government banning the activity over the summer accordingly to report tour reports by Bloomberg.

President Hassan Rohani and I apologize if I’m pronouncing that wrong. I’ve talked about investing in Iran. In the past, I think, if you can, if you have uh the chance to travel to Iran and open a brokerage account, I would highly recommend it because you have companies trading at ridiculously low multiples, but actually kind of a young thriving economy. To be quite honest, even though you know it kind of, has this negative perception from a lot of the west, I think Iran’s an incredible country, so um president announced the blanket ban on bitcoin mining in the country in an address on state television on Wednesday, the Nationwide prohibition will reportedly last until September with government keen on ensuring access for electricity for domestic consumptions during the hot summer months, which are historically peak periods for power demand. As part of his address, president Rohani alleged that the majority of crypto mining activity in Iran up to 85 percent was unlicensed.

Indeed, the corn Telegraph recently reported on a crackdown by authorities on miners using electricity meant for household consumption. Iran began a process of nationalizing its crypto mining sector back in 2020 after months of dealing with illegal crypto mining activities uh. So in January the country issued about 10 000 licenses for mining in the country um. So reports early in maybe talked about uh. They hunt for illegal, large-scale, crypto mining operations so obviously anywhere where there’s going to be money, there’s going to be people kind of doing legal things, cutting around the corners, uh and not getting their license, but the people that are licensed – that’s great um.

You know they’re going with what the government had set up um. I learn a bit more about the libertarian side of things. So I think you know smaller government. More kind of decentralized government is a bit better uh but uh. You know Iran is a bit of a different situation currently so uh.

It also has been linked to worsening the air quality. Now I would probably disagree with that. I would say that they have other things going on that are much much worse. Um. You could blame this on it.

It’s easy to kind of put the blame on bitcoin mining, but, to be quite honest, look at what else Iran is doing. Then you’ll see what the problem is as far as the environment. They have a lot of other issues to fix. Um. That’S pretty much it for this article.

You can check it out again. I’ll have a coin telegraph and decrypt links. You can check out the top articles in the crypto space, but next, I wanted to talk about cava um. We will show you what’s been going on. There.

Swipe has also been doing well, um, there’s a lot of these coins that are up quite a nice origin protocol. On doing very very well now. I personally think we will be kind of in this uh consolidation symmetrical triangle pattern for the next couple of days. I could be wrong. I showed you that on the bitcoin charts yesterday so go watch yesterday’s daily d5, if you’re confused, um we’ll also be talking about reef symbol, reef up 45 on the daily, let’s see what else is doing well, the phantom is doing quite well.

Sushi is doing well 27. Thor chain up 27 uh: let’s see, let’s see, chain, link 28 uni swap almost 20 um lots of recoveries, but I think we could retrace back down to these levels. You can see as most projects have kind of bounced off those lows. We could see kind of this push back down and then maybe push back up, but that just provides for more opportunity. In my opinion, so we are sitting at three cents for a reef right about 45 up on the daily at 429 million dollars in market cap.

Uh fully diluted would be 677 million, and the daily volume is 384 million. So that’s up 203 uh! You can see this was a decent opportunity to average in now you’re getting back into these levels. Uh for the current prices still a great opportunity. In my opinion, especially when you look at what reef is doing fundamentally now, some people hate it.

Some people love it, uh, but I personally like what reef is doing. I’ve done multiple, deep dives. Videos into this so go check those out um, but the other one I did want to talk about was injective on about 50 000 watch lists. This is a project where you can basically it’s basically decentralized exchange where you can add any custom pair. So any trading pair you can add to injective.

It is retraced back down to these. Let’S see where were we last seven dollars right around yet January of this year? Besides that, I mean the majority of the year, we’ve been up above 13 and then we peaked up here around that what 20 23 24 levels yep 24 levels um still slow, decent opportunity. You know it hasn’t recovered that well when you see a lot of these projects, they look like they have the same chart, but when you see one that really hasn’t recovered that you think you know fundamentally, you value higher um, for example, Reef has recovered a Lot more than objective: let’s look at cava’s barely recovered. You know, kava fell back down to those two-dollar levels.

Um. I would like to pick up some kabbalah down here at 1.28 uh but um to each their own. You know we could be following in this kind of falling wedge and if that’s the case, hopefully, we go down a little bit lower and you can pick up some cava on the cheap uh. This is a project that I’m holding long-term.

I do have a short-term bag to watch the global ta series because I talked about something called the trident approach. Basically, where you have three prongs, so you have one prong where you have your core position, where you’re averaging in overtime you’re holding that long term. If you believe in the product fundamentally and you’ve done your own research, the second prong is the short-term like swing trading portfolio. So that would be, let’s say like you put a thousand dollars in kava yesterday and you’re up 26, just pull out that pull out! That profit real, quick pop that out um and then you know if it falls down further, you can average in a bit more so let’s say kava falls.

It’S let’s say you pull out this tiny bit of profit right here: um you’re able to kind of gain that upside uh. You would you’d be ready to purchase more down in a dollar and 30 cents um. So keep always keep that in mind, because we could have a collapse in all coins. We could at any point having a collapse in the crypto market. Nothing is for sure nothing is certain.

It’S all probabilities in this market and that’s what I’m really trying to hammer in your guy’s heads with daily d5 with a lot of these episodes. So if you have any questions or any comments or any requests for anything on the channel, any topic, whether it comes to any investment sector, let me know down below in the comments. That’S all for this one, if you enjoyed it hit the like button subscribe to the channel to stay up to date, hit the notification bell because it’s time-sensitive content. That’S all for this one! If you enjoyed it like subscribe button, all invest globally until next time.

Read More: REEF FINANCE Huge Price Prediction

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