Overall Market View

 Ethereum is up 10% and Bitcoin is up 4% for the week. So this is coming off of one of the worst possible weeks ever.

Binance coin and LINK, were our spotlight coins and Binance coin did outperform quite a bit.

Dogecoin is up - this retail FOMO with Twitter and stuff is probably driving it up.

Litecoin's the same way.

Chainlink's up 24%, more than double than Ethereum. So we did pick some good spotlight coins from last week, especially with the staking coming for Chainlink.

ApeCoin announced staking last week as well. It's up 30%, which is really crazy. A lot of people are really buying into this narrative. So in terms of hedges, if you want to do some shorting, if the market gets too much on a uproar, Ape is one of them. And the other one I actually wanted to point out is Gemini dollar.

If there is a collapse with Genesis (mentioned in the beginning) this could be impacted. If you short $1, you have almost zero risk. It's not going to go to $1.01 or $1.10 even. It's just impossible. It can only go down, so that's the other, maybe a hedge. I don't want to make it seem like it's obvious, and it may not even be shortable. Who knows?

Another thing I want to point out is Chiliz. Chiliz, remember this was in our newsletter to short it if it ever hit 30 cents. I think it got to 27 cents. The reason why is all the World Cup hype is bringing CHZ up. CHZ is the fan token that you could buy part of your membership or your NFT into these soccer teams or these football teams, I should say. And it's down 13% over a week where everything is up. So Chiliz, it might be a good buy right now because of how bad it's selling off. Great, great short by the way. I just want to point that out. 

 And then also, Solana was obviously a great short, these were all in the news last month's newsletter and everything played out almost exactly how we thought it would. It went to almost 30 cents, and then dropped and cratered and it's still dropping. 

All right, so let's keep going with the news here. Ethereum is testing staking withdrawals. Now, this is actually short-term, very bearish for Ethereum because we don't know how much of it is getting unlocked. There's about, I think it's, is it 40,000 Ethereum. It's in the hundreds of millions of dollars that are staked right now, and they're going to unlock it. I'm guessing they're not going to do it all at once. What they probably should do is a burn mechanism where the more Ethereum that's burned, the more from the stake can be unlocked. That way the supply isn't increasing. But again, I don't think there's enough data on what they're going to do yet. It's only on DevNet right now. 

We also have Fantom releasing an interesting tidbit in their finances. The main thing is they had $450 million in Fantom, $100 million in stables, $100 million in crypto assets. Basically, they had a $7 million burn rate and that means they have 30 years left without needing to touch Fantom. So, one thing is it's very bullish, that they're extremely solvent. 

The second thing is it's coming from Andre Cronje, so that means he's back looking at his own company. He is one of the most brilliant guys in the crypto space. He just throws out ideas. They don't always work, but as long as he's throwing stuff out there, you would be the first people to know about it and you can speculate on it, and it's an amazing opportunity to get into something early. 

So Fantom itself is up a lot, 30% this week, just because of his presence. But also the data that shows that Fantom has a ton of money. They're not going away. The fact that they're not going to need to fundraise is very bullish for Fantom. Now I would have made this a spotlight coin of the week but not when it's up 30%. That's just too risky for me. Whereas INJ, for example, was still down from the downturn, or CHC.