YCC Crypto Alpha #30

Our latest community alpha & portfolio updates.

No time to scroll on X or Discord? I got you covered!

These posts are your gateway to our latest market alpha, top coins to watch, and community updates. They also keep our busy Patrons happy and informed.

This issue covers:

• Latest market outlook

• Hottest new protocol in DeFi!

• YCC portfolio updates

• Market tip of the week

TLDR: Bitcoin dropped to mid-50k and the price made a lower low. This has put the market on edge, but buyers have returned. The next few weeks are decisive and there are reasons to be optimistic.

The market tanked as we entered July and the most asked questions became: Why is Bitcoin crashing? The short answer is that sellers are dominating with a few institutional players, such as Germany, selling their seized BTC worth over $2 billion.

They are fools to sell! Particularly after the halving. But what does the German Federal Police know about crypto cycles?

Moreover, Mt. Gox - the Japanese exchange that went under years ago - is now finally repaying BTC to creditors. Taken together, these narratives scared the market, but were also an opportunity to get Bitcoin at a discount.

Trust me, it won’t last once these developments pass over.

While bears have dominated since June, buyers have been putting up a fight around the 58k level. If they manage to hold here and move Bitcoin higher, then the worse could be behind us. A 20% to 30% correction is nothing out of the ordinary in a bull market for Bitcoin. It’s normal! I’d only get concern if the price falls under 48k.

Now lets speak about the latest protocol in DeFi and why I am excited about it.

Since late March, excitement around DeFi has taken a hit. People’s patience with promised airdrops, points, shards, and similar schemes has eroded. They need something different. Something real. Luckily, we still get that from time to time, but it’s rare.

This is one of those times.

If you study DeFi, you will see there are many networks, chains, and protocols flooding the crypto space. Few really stand out in any way. Most are copy-pasta to use a crypto jargon.

The protocol I’m about to tell you about is built on the SUI network, which is one of the fastest growing ecosystems in crypto. It went from nearly $0 total-value locked (TVL) in July last year to half a billion today.

Not bad right?

You know what they say, be in a growing market if you want to be successful. Crypto definitely qualifies, and SUI is one of its latest runners.

If you are a YCC Patron you may have heard me speak about this protocol already on our Discord. Below is why it piqued my interest.