Research Summary
The report provides an analysis of the current cryptocurrency market, highlighting the performance of various coins, market narratives, and on-chain activities. It also discusses the impact of AI on the market and the performance of GameFi and meme coins.
Key Takeaways
Market Sentiment and Strategy
- Market Volatility: The report notes a volatile market sentiment, with people changing their views frequently. Despite the market’s choppy nature, the author advises against overtrading and recommends buying good coins and waiting.
- Investment Strategy: The author suggests a different approach to the current mini-cycle compared to the previous one, recommending highly concentrated bets and patience. The author holds positions in select coins that they do not touch.
Market Narratives
- AI Impact: The report highlights the impact of AI on the market, with AI’s god candle news leading to a significant price increase. Worldcoin (WLD), co-founded by Sam Altman, also saw a 170%+ increase following the release of Sora.
- GameFi Rally: GameFi saw a significant rally, with Mechanism Capital’s founder Rewkang promoting Heroes Of Mavia. Beam solidified its position as a mainstay “gaming coin” of this cycle.
On-Chain Activities
- AI On-Chain: The report notes significant price movements in AI-related coins. OLAS saw a price reversion back to $6, while ComAI experienced a price dump due to an exploit in a whale’s wallet.
- GameFi On-Chain: Other GameFi outperformers like GuildFi and PRIME also saw significant price movements. PRIME broke its all-time highs, a notable achievement.
New Coins and Outperformers
- New Coins: The report identifies ZETA, DYM, and AI as new coins worth monitoring due to their performance and potential.
- Outperformers: The report highlights several outperforming coins, including INJ, SOL, BLUR, and others. It also notes underperforming coins like TIA and DYM, suggesting it might be a good time to look into them.
Actionable Insights
- Monitor AI and GameFi Coins: Given the significant impact of AI and the rally in GameFi, it may be beneficial to keep a close eye on these sectors for potential market movements.
- Consider Concentrated Bets: In light of the author’s strategy of making highly concentrated bets in a volatile market, it may be worth considering a similar approach and focusing on select coins.
- Watch New and Underperforming Coins: The report identifies several new and underperforming coins that may be worth monitoring for potential opportunities.
