Moni's Edge #10: Green Dildos(candles) everywhere
Alpha, Early Projects, Market overview, random thoughts, and just magic – wagmi.
gm, degens!
Soo, what's inside today?
Weekly dose of:
- Market update;
- Narratives;
- Potential Catalysts and events;
- Useful threads, articles, tools and random thoughts;
💜 If you love what we’re cooking here and would like to support, click the button below:
State of the Market and News
Since I’m currently in the middle of a trip + my Twitter is working like crap, this section will be done in the “one line” format:
Microstrategy is finally in the black, Michael Saylor is slowly but surely becoming a market genius.
On-chain tokens continue to ripping the market ($BITCOIN, $RLB, $OX, $шайлушай, $BANANA and others)
Larry Fink and Black Rock are shilling Bitcoin as the paid influencer. Bitcoin is “the flight to quality”. – https://x.com/intern/status/1716597192952033319?s=20
Is the Bitcoiner's dream coming true? –
Normies still don’t give a shit –
Jay’s thoughts on the Market – https://x.com/0xjaypeg/status/1716850970335060326
VanEck Twitter is a banger, their Vibe Officer should have a raise – https://x.com/0xjaypeg/status/1716803504961130656
The Nature is healing, I mean previous cycle bad guys getting jails – https://x.com/0xjaypeg/status/1716803504961130656
Bob Loukas Thoughts:
Capo betraying the bears? – https://x.com/TheDeFinvestor/status/1716758340125049034
Coinbase launched futures (perps) not for Americans (are they trying to take a pie of a Binance?)
Alexis Ohanian talks up BTC as new gold
We frontrun ourselves – this is the PA now
Andrew Kang on the Market –
Stablecoins inflow/outflow by Pentoshi –
Interesting fact – https://x.com/ByzGeneral/status/1717170242881785878?s=20
A Breath of Fresh Air
https://insights.glassnode.com/the-week-onchain-week-43-2023/
“Bitcoin prices have reached new yearly highs, breaking back above the mid-cycle price level of $30k, and accelerating to $35k. The market found sufficient strength to break above several important pricing levels including the 200-day average, 200-week average (both technical), True Market Mean Price, and Short-Term Holder cost basis (both on-chain).A meaningful proportion of supply and investors now find themselves above the average break-even price, located around $28k. This sets the foundation for a resumption of the 2023 uptrend. At the very least, the market has crossed over several key levels where aggregate investor psychology is likely to be anchored, making the weeks that follow important to keep an eye on.”
Glassnode
🧠 Stay strong, stay solvent, and you'll be rewarded with the best 500 days to make a lifechange moni.
Narratives for Rotatoooors
FriendTech + Forks of FT = ♡
Due to the growth of the whole market, the interest of degens and Influencers has slightly gone away from the SocialFi, as now, past forks of frentech and frentech itself there are a huge number of other interesting areas that are growing: Memecoins, GambleFi, Solana, and so on.
On top of that, Vombatus recently sold 851 ETH worth of their keys and moved some money from FriendTech to New Bitcoin City, whose TVL is currently at $3M$. Even Pranksy posted yesterday that he leaved FriendTech completely to New Bitcoin City. Because in this fork, the team is really working on their product and doing everything they can to make users want to be there.
This in turn confirms that Influencers are still willing to move to other socialfi apps if there is enough incentive.
Therefore, we made two conclusions:
- Forks of FriendTech will continue to appear and some of them will be successful, maybe some protocol will still become a real competitor to FriendTech, will it really be New Bitcoin City? Tomo is still alive, its TVL is 1M$, mostly users are Asian community, will they be able to attract new users, influencers and also make old users leave their liquidity in this app?
- Now it makes no sense to mindlessly carry your money to any Fork of Frentech.
About 5 new socialfi apps were released this week, but most of them failed to reach even 20k$ TVL, now without interesting updates, tools, incentives for users, strong and active team it is unlikely that projects from this narrative will be able to attract enough liquidity.
Early projects (mostly Degen plays)
TagdotTech
Another fork of friendtech. We don’t know anything about proj now, but, u can join the waitlist on their website, where you'll find tidbits about ITOs - a novel breed of Influencer shares launch: "ITOs are private sales where Creators control the starting price of their Tags."Chain: -
Narrative: SocialFi
Twitter: https://twitter.com/tagdottech
The project first appeared on the Moni Discover off-chain analytics app on October 21st.
In addition to degens, some FT influencers followed them, for example Machi and dingaling. Btw, we guess Machi is a founder of this proj, so BULLISH.
Infrared Finance
Just a new defi protocol with a huge number of smarts?Or maybe a new project from the Berachain team on Berachain that hints at a testnet coming soon?
Narrative: DeFi
Chain: BERACHAIN?!
Twitter: https://twitter.com/InfraredFinance
The project first appeared on the Moni Discover off-chain analytics app on October 21st.
Infraded was followed by some early degens and team members of BERACHAIN. WHY?
Chainchat by Zapper
ChainChat is a new fork of frentech by Zapper.You can also buy/sell keys, but not of influencers, but of chats. Conditionally you bought a key to MONI chat, now you can chat in this chat.
Second, not less interesting new feature - instead of Twitter you connect your wallet and people when buying a key to your room first of all will check how much money you have lol. On the one hand we see a strong team, support from some big influencers (Not from ft), and a whole new perspective on frentech forks. All of these are undoubtedly huge green flag.
On the other hand, how will the team continue to incentivize users to stay in the app? At the very least it's a good idea to add points for future airdrop. Some people I know have been waiting for Airdrop from Zapper for years and I have little faith that they will decide to release the token just because of ChainChat. Unfortunately, this is a red flag.
Chain: Base
Narrative: SocialFi
Twitter: https://twitter.com/chain_chat_app
The project first appeared on the Moni Discover off-chain analytics app on October 26th.
There are quite a few degens, FT influencers and CT influencers and other smart guys followed the project.
For example: @hype_eth, @Shaughnessy119, @0xMaki
Catalysts, News & Updates
First EigenLayer-powered Liquid Restaking Protocol Astrid Finance is live on mainnet
Other Dope Stuff you should check:
Fund flows into crypto-based products have surged the last few days
🫡 Thanks for reading, fren!
That’s it, the end of the 9th issue. Please, leave a feedback in the comments and share the word.
Give us a follow on Twitter at @getmoni_io and join our Discord Community.