The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - OK back in the seat. It looks like equities closed unch'd on SPX on Friday and about 0.4% lower on NDQ, this follows a great run after Nvidia carried the market to new heights. Futures this morning are a touch lower. I think this year is going to be similar to 2019 where we just gradually edge higher and higher with tech stocks being the main driver of growth. Interest rates are seeing a bit of a rally here after their recent sell off with 10Y now back down to 4.22%. We usually kick the beginning of each month off with payrolls but given the short month of February we won't get that data until next Friday and that'll be the next big thing to look out for.
**CRYPTO** - It continues to be a story of ETH as we hit 3100 overnight while BTC remains at 51.3k. This takes ETH/BTC now back up to 0.06 once again which is the highest it's been in at least 12 months. The ETH train wants to keep going here and we're literally seeing a re-run of what we did with BTC in its lead up to the ETF approval. There are just 87 days now until the final deadline for ETH. I'm still not fully confident it gets approved, I think there are certainly more risks here which the market is aware of, but that also means it's not priced in. We also have the Dencun upgrade for ETH coming in the next couple of weeks I believe and perhaps some of the recent price action is more geared towards that. This week will be big as we have Portalcoin coming which has been trading at around 2.7-2.9bn FDV in pre-markets. This level will see a 15-45x return for angel and pre-sale investors, not to mention an airdrop probably in the hundreds of millions to those who were farming it. It's certainly going to inject a lot of liquidity in the space. We should also see Blast mainnet go live soon and all that liquidity unlocked although I have a feeling that could be delayed.
**NFTs** - Looking pretty strong here tbh. NodeMonkes and Bitcion Puppets have done the most volume out of all ecosystems and are uip to 0.41 and 0.17 BTC respectively, That marks a massive 120-140% return in the past couple of weeks as continue to feel the full cope on Puppets having loved them and not couhed them. It appears to me that SOL NFTs continue to lag as that ecosystem has moved away from the limielight with most big NFT projects posting negative returns there. On ETH it's mixed; Creepz continue their rise ahead of Portal moving to 4.7ETH floor while Kanpai Pandas are up 45% on the week to move to 3.8ETH. As crypto goes higher it does feel like NFTs are becoming much more active here and are demonstrating a levered-like return on their native ecosystem tokens.
GL today