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Sunday, December 5, 2021

Top 3 Buy the Dip Altcoins

Welcome back to daily d5 today is May 19th of 2021 hope everyone’s doing well. We are seeing a nice correction in the crypto market, especially with bitcoin and Ethereum, really dragging down all the top altcoins, so we will be covering reef, radium and ramp. All three altcoins that I am personally buying during this dip because I believe in them fundamentally for the long term and they’re hitting previous levels of support. So you can see this is falling back down to these levels down here around the 25 cent area. Radium is kind of in a similar pattern, but we will get to more than later.

The other thing we will be covering is the ADA article and just the overall kind of macro crypto. What’S going on. Why is it dropping article, but first as always, g5 pulse in juicy NFT, so the total value locked in decentralized finance sits at 61.97 billion dollars? Now it wasn’t too long ago.

We were just at these levels right, so it was not very very long ago that we were sitting up here. Um. It was just April 15th. I think people get so tunnel vision so short term. They think wait a second.

This is only going to keep going up. That’S why I always talk about zooming out on the charts, taking a macro view on things really looking at things from an objective view, trying to remove your emotion, remove your bias and go okay. Let’S, let’s apply some logic. Let’S apply some rationale here: what is the plan? How are we going to average in?

Are we going to panic sell? No, ideally, you do not pay an excel, ideally, you’re, investing money that you don’t necessarily need. Rather, that can grow and can help you down the road, but if you’re, if you’re, in a position where you have to panic excel, what you really want to do is go. Okay, wait a second next time. I want to make sure that I’m not in this position so make a plan ahead for these types of things because they’re inevitable these things are not just random events.

No, no. These happen every single time, so it’s better to have a plan for them. Execute that plan properly, knowing your downside, knowing your upside and understanding, how to really manage risk and then maker dominance is at 15.03 percent. D5 pulse index is down 26 percent of the daily at 447.

1, so maker aven compounds are still at that top spot. All very, very close to each other for total value locked in it’s good to see that moving on to juicy NFTs. This is doing what we’re doing 434 thousand dollars in NFT volume. It dropped dramatically. Yesterday, um crypto punks take up the majority of that.

You know. We were seeing millions of dollars transacted daily just to just honestly a couple of days ago and now we’re starting to see that this is kind of averaging out um around half a million dollars. So, moving on to an article from the crypt crypto market has shed billions amid a week of bearish news as Chinese payments associations reiterate warnings against crypto speculation, so the cryptocurrency market has continued its long week. Plummet with leaders, bitcoin and Ethereum falling through key supports on Wednesday yesterday or sorry today. My apologies today is Wednesday: bitcoin plummeted to lows of around 32 100 a drop of 30 over the past 24 hours.

Likewise, Ethereum plunged 40 percent to nine 2059 Um both cryptocurrencies have recovered somewhat to the prices of what thirty-five thousand three hundred sixty-eight and two hundred right around two thousand uh five hundred dollars respectively. So strikingly the market, most liquid, stable coin tether, has been knocked off. Its dollar peg USDT fell as low as 84 cents emits a blood-red market. So this is always a problem um when you have something like a stable coin, that’s backed to a real-world asset um, not that I’m saying dollars or assets. I guess you could, you could say it’s back to like a real-world data point like the dollar um like the dixie, the dollar index and uh yeah.

So this is definitely a concern when these drops happen, that you know the thing you’re deriving value and let’s say you just pulled a bunch of profits and it’s in USDT um. Is it really all that stable, that’s kind of why I prefer USDT, but sometimes I’ll use USDT, depending on the platform, for example, like buy Bid or Femex for trading? Sometimes you have to use USDT, but I prefer not to hold that. If I’m holding a stable coin, I prefer to hold um, you know USDT or a gold-based stable cord, so the day opened in a red hot in the red hots, on the heels of the bearish news coming out of China, a group of Chinese payments and Finance associations doubled down on the central bank’s 2017 of the ban on financial institutions engaging in crypto transactions, warning investors against speculative crypto trading. So the important thing here guys keep in mind whenever somebody says you know: against speculative crypto trading people still play the lottery.

You gotta understand that the lottery has zero skill you’re literally just like throwing you know, throwing a coin in a well. You really don’t take any skill at all, but we still allow people to throw their money at that, but then, when they can actually strategically trade, something and learn from their mistakes. Oh, we’re trying to ban that. I don’t really agree with that. Fundamentally, that kind of way of thinking, but to each, their own, not else uh much with this uh, besides um the congestion.

This is major, problematic, congestion. You know um with a hundred thirty-three dollars in fees. Think about it. If someone is trading 200 and they get 133 fees, how mad are they gonna be, and are they going to want to move towards a network away from Ethereum, or are they going to move to something like Cardano, so ADA, Cardano price crashes? The last time, its futures open interest reached 1 billion, leading traders to question whether or not it’s about to happen again.

I think we could see a nice correction Cardano now. This is kind of the. The other way that this could play out is Charles Hoskinson. In the Cardano, the foundation team says they have this exact date, where Cardano’s officially going to be released, we’re going to have all these partnerships, maybe they’re partnering up with like uh a car company like neo or tesla um. Some sort of news like this.

If you understand what I’m saying, this could really really drive a skyrocketing for Cardano, because that’s the whole point of all the peer-reviewed papers. That’S the whole point of all of their research and planning preparing for their main that launch that still has not happened. So decentralized finance is looking to us um looking to alternatives. Well, ADA is inflationary. The supply, currently 32 billion will be capped at 45 billion leverage yeah.

So I mean there’s a lot to go through here again I’ll have a decrypt and coin telegraph linked down below. In the description you can see here with the top coins, really what I was looking for, picking these three to buy the dip on. I was saying: okay, what do I think is corrected far too much and it really shouldn’t have been corrected this far. Give me one. Second, here I’m going to take a sip of water and then I’ll be right back all right, so uni swap is sitting at 25.

Hasn’T corrected ridiculously chain link didn’t correct too ridiculously, but then you move into something like ave. It’S like, okay, this! This is a pretty far correction, but um I find you know. Avalanche could be an interesting cop. Um, the reef is one that I really really like, and I’ve continued to dollar cost average into same with alpha but uh.

This has fallen about 26 percent, almost 40 percent. On the weekly, you can see this kind of dramatic fall here, um, whereas alpha hasn’t had as much of a dramatic fall. We see the majority of these have the same pattern, though you seem like they hit the slow and now it’s on a tiny bit of a rise and now they’re kind of going back down again. So we could see lower lows for these. So keep that always keep that in mind when averaging in, is you never want to spend all of your dry powder rights?

You want to keep some dry powder, aka stable coins or whatever you’re, trying to use to transfer into some of these lower cap projects and essentially planning for further drops like here with cava or with radium so radium, ticker, symbol, r. A y. This project is right at six dollars. Forty-one cents down about thirty, two percent on the daily so again, really juicy correction circulating supply is nine percent of max supply. I think overall such quality projects.

We talked about this one in the uh, the top three alternatives to uni swap video. I think everyone can understand why something like this would do very, very well in the Solana ecosystem um, because it’s you know this automated market maker and next ramp. This project allows you to tap into liquidity. You have locked in something in the crypto space really doesn’t matter what it is. If you have something staked, if you have, if you’re like doing yield farming, you can use ramp tap into that liquidity.

So you have kind of multiple options. I guess it opens the door to many options, still below the 100 million dollar market cap. This is about down about 28 of them daily. I think a great opportunity to average in because you see we’re hitting these key support levels. Ideally, I mean it would be really nice.

We had even further pullback. I doubt that’s going to happen, but we’ll see again always prepare for something like the worst, which would be. You know, falling back down to these levels again, not all that likely right around four cents we fell down there. I could see a massive pump because of what this product is doing fundamentally, so that’s all for today’s episode, if you enjoyed it, hit the like button subscribe to the channel hit the notification bell to stay up to date because these are time-sensitive videos. Let me know in the comments what you want to see in tomorrow’s daily d5, as always: invest globally until next time.

Read More: What is Yield Farming in Crypto.

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