Skip to main content

Ribbon

 Ribbon, by the way, is offering a staked Ethereum vault, so you can actually earn money on the staked ETH and on the vault, which is doing a cover called Strategies. They also announced a VIP program, so ribbon is just firing on all cylinders. They have another L1 chain coming out called AVO. I just love it when you see a project just continuously delivering stuff. I've used Ribbon, I think it's actually a great product.

I have a small holding in Ribbon. I just bought some and then played with it, but it's up 21% today. And it was one of our, I believe it's one of our top five coins this month as well. But it's already up so much that I don't want to make this a spotlight coin of the week again either. It's just tough when it's up 56% over the last week. It did get hit hard from the FTX fallout. I don't want to hide that. 

And then Aave, we talked about last week just having gone through a crazy attack. Someone was taking collateral, then making it so that they can get liquidated on their own position on Aave. And then the liquidity for the collateral wouldn't be able to convert in time, and then they would've gone long in the position somewhere else. So they're kind of stealing about $1.6 million from Aave. That was kind of the attack vector. Aave said that they've paused some of the markets because there's that risk. And the cool thing is Aave is actually up. So last week it was at $.55, I believe, it hit $.50 during that attack. And it's come back to normalization right now. So it's about in line with Ethereum recovery, 9% versus 10%. This was mentioned last week as something I'd pick up.  


Labels:

Comments

Post a Comment

Popular posts from this blog

First of all is the Fed.

 Every week we talk about inflation calming down. This week there is a hint that maybe December’s interest hike might only be a 50 basis point move as opposed to the expected 75 basis point move.  This is why you’ll hear markets “cheer, everything is still going up. They're seeing an end in sight to these interest hikes. This is important because if one can reasonably assume the interest rate peak is going to be in February, then they can start deploying their funds accordingly.
4 comments
Read more

Fidelity

 Fidelity, this is actually huge news that nobody cares about right now because of all the FTX drama as well as all the attention Elon Musk is getting for Twitter and his war with Apple. But Fidelity, one of the biggest traditional finance organizations, is now open for crypto. I think now that FTX is out of the way, there is a gap for them to take the market share. Obviously, Coinbase is still a big player, but a lot of people have their retirement accounts on Fidelity and huge, huge, huge bank accounts on Fidelity as well, where they can diversify into crypto. The main problem is that sentiment has never been this bad for crypto. That's why I keep saying last week that we are probably at a bottom. We've not gone below $1100 for Ethereum strangely. And to be honest, I've been waiting for $800 or $900 to buy back in, but it just never hit it. It just keeps staying at $1100 or $1150 to $1200. I don't know who is buying it up right now but I'm trying to figure out who...
Post a Comment
Read more

BlockFi

 BlockFi filed bankruptcy this week and had $355 million that is now frozen on FTX. We suspected this would happen. BlockFi was going to go bankrupt and FTX saved them. But now there's a battle going on. Basically, BlockFi is fighting for more assets. They're trying to get $620 million of HOOD (RobinHood).
Post a Comment
Read more