Uninteresting. It’s probably the word of your choice if you are asked to describe how’s the crypto market right now. Although I understand, I beg to differ.
The crypto space isn’t in any way less interesting than a few months ago. Combined with certain conditions unique only to bear market, I’m honestly enjoying the current atmosphere right now.
Anyway, I think this is the second time I’m writing this type of article. The first one would be the one around May 2021. But this time I can say that I know better about what should I do during the market’s quiet time. This is an updated version of some sort. More research, the ponzis can wait
I remember the euphoria phase of the market — when you seemingly throw money at anything and will make money. Although these days you might wish for them to come back, I remember it was nothing but exhausting at the time. Almost everyday trendy stuff popped up, FOMO-ing you into participating, or else you miss a big gain. It was exhausting, like a sprint, when I believe investing — and life, in general — is more like a marathon. But at the time, not participating seemed stupid. It’s worse than it’s also my nature to be curious. A new protocol? I wanted to try.
Now that the market slows down, I don’t need to deal with any kind of FOMO-related exhaustion. No more divided attention/capital, no more blindly aping without due diligence, and less getting tempted to ape into something just to fulfill the curiosity. Fewer noises calmer head, take time to digest information
At the market peak, it can take hours to catch up with Twitter if you logged off even only overnight to sleep. Not only that there’s pressure to keep up with everything, but market top’s Crypto Twitter was full of unnecessary noises. People bragging about their wealth, “gms” tweets, “number go up” memes, “thought leaders” tweets from influencers. My timeline was a mess. Although I don’t follow accounts I consider low-quality, somehow Twitter algorithm still recommend — or dump — a lot of information on me.
It’s just Twitter, I gave up when it comes to Discord.
Bear market’s Twitter was way more palatable in my taste. People are quiet. Need only scroll the timelines for a few minutes before you reach the tweet you have had read before. My time on social media is decreased, but more importantly, when I read a truly alpha tweet, I had time to digest the information.
In the past, I’d just put good tweets on bookmarks and forget. It’s not like the devs stop building
Despite the bland price action, the DeFi space remains interesting. Actually, it’s not just DeFi. Remember $GALA 80% a day jump some time ago ? The metaverse and NFT space also got their own mini pump throughout the past weeks.
So far, the DeFi space was the most innovative as far as tech goes. Among the few: Solidly on Fantom, BeethovenX bribe wars, Cosmos ecosystem gaining recognition, Avalanche (AVAX) ecosystem hitting the second biggest TVL of all chain briefly.
Opportunities are still here, for yield farming, staking, participating in bribe wars. Grifting no more
The best thing about the current market serenity is that we are left with good quality projects with committed teams. Less and less trashy projects pop up trying to advantage the bull run (because it’s no longer exists). Quality over quantity. Quietly farming
What else needs to be done in this market situation when $20k worth of tokens can earn you ±$1000 a month on a good-quality 100% APR farm? I always think farms are a DeFi blessing. There will always be good opportunities somewhere with staking and yield farming.
The quiet phase, when volatility has succumbed, is a perfect way to accumulate your favorite tokens. Yes, you can do the good old DCA (Dollar Cost Averaging). But why not get them for free by yield farming or staking?
Plenty of ways to farm, just make sure not to become the exit liquidity. Building convictions
I’ve come a long way to learn that convictions aren’t something you build overnight, or a week, or a month.
A good project takes time to develop, and then take another time to become resilient facing various market situations.
The bull market has made us a hopper, or a rotator when we would treat a protocol or a token like a one-night stand. Although in some cases this way is profitable, there’s no way it is sustainable. Not to mention, […]
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