Research Summary
The report discusses three significant upcoming events in the crypto investment landscape: the Upbit Conference 2023, Hashflow token unlocks, and the impact of Butter Finance on AURA. It provides potential trade ideas and key factors to monitor for each event.
Key Takeaways
Upbit Conference 2023
- Event Overview: The Upbit Conference 2023 is expected to impact the prices of participating projects. Historically, Upbit token listings have led to significant price increases.
- Potential Trade Idea: The report suggests considering a long position on a basket of tokens of participants that are not currently listed on Upbit.
- Key Factors to Monitor: The report recommends closely monitoring the conference agenda for potential announcements. Upbit listing plays are highly speculative.
Hashflow Token Unlocks
- Event Overview: Approximately 160 million HFT ($44 million) was unlocked on November 7, 2023. The current FDV of Hashflow is lower than its valuation at the time of fundraising, which could discourage team members or investors from selling at a loss.
- Potential Trade Idea: The report suggests monitoring the claim progress closely and considering a long position if the volume of HFT claims is low or a short position if claims rise significantly.
- Key Factors to Monitor: The report advises keeping an eye on the claim progress of unlocked HFT.
Butter Finance’s Impact on AURA
- Event Overview: Butter Finance, built by the Aura team, recently announced its launch. Aura holders are expected to receive utility from Butter DAO.
- Potential Trade Idea: The report suggests considering a long position on AURA.
- Key Factors to Monitor: The report recommends watching out for details on how value will be accrued to Aura holders and suggests exiting prior to launch.
Actionable Insights
- Upbit Conference 2023: Investors should closely monitor the Upbit Conference 2023, particularly potential token listings, as these have historically led to significant price increases.
- Hashflow Token Unlocks: Investors should keep an eye on the claim progress of unlocked HFT. Depending on the volume of claims, they may want to consider a long or short position.
- Butter Finance’s Impact on AURA: Investors should watch for details on how value will be accrued to Aura holders. Depending on these details, they may want to consider a long position on AURA and plan to exit prior to launch.
