Weekly Newsletter #4

Is $BLUR ready to takeover Opensea as THE NFT Platform?!?

February 17, 2023

Newsletter #4

GM/GN, bull 🐂 market back AGAIN? 😂Hopefully everyone's been HODLing through! Grab your Joes ☕️ and milk 🥛, and let’s get to this week's news! 👇

TOPICS OF THE WEEK

26k next?

  • Market Analysis

  • News of the Week

  • Other Headlines

  • 🤑 Funding 🤑

  • Meme of the Week

🚀🚀🚀

We're getting  a lil greedy out here...be careful!

DATA YOU SHOULD CARE ABOUT

Are the institutions in?

Several mysterious funds have poured $1.6B into the markets ever since Feb 10. Many believe that this is what has prompted the recent moves in the markets.

$BLUR Exploded

After launching its recent airdrop, $BLUR volume has exceeded Opensea. The platform is prompted to overtake Opensea as the de facto NFT trading platform.

Inflation falls to 6.4% but is still higher than expectations. This report marks the seventh month of cooling since the 9.1% peak in June.

NEWS OF THE WEEK

$BLUR airdrops happened this week - and having launched only four months ago - it already has 146,823 users and OVER $1.2 billion traded worth of NFTs. $BLUR differentiated itself from its competitors by being the NFT trading platform for “pro-NFT traders.” Traders can easily trade multiple NFTs at once on the platform, and its airdrop incentive fully captures 

The platform’s market share volume completely dominated this week, with 46.2% beating Opensea. 

At the time of writing, $BLUR’s TVL hit an ATH of $98.25 million, and the price of the token is currently trading at $1.01. Compared to its competitors, $BLUR seems to be undervalued, especially given the amount of trading volume it generates. However, we do have to keep in mind that a large portion of this volume may be due to traders looking to benefit from the airdrop. 

All of this will depend on how NFTs perform in the long-run. We’re still far from our highs from the previous year, and it will be interesting to see how NFTs develop. 

Last week, Paxos, the firm that issues $BUSD, was asked to stop issuing the token after the SEC stepped in—the SEC claimed that $BUSD violates the securities law and believes that $BUSD is defined as a security. It doesn’t exactly make sense because $BUSD is a stablecoin, and it does not generate any income. However, many believe that it is correlated with Binance and the US looking to regulate centralized entities to protect customers. While we're unsure about what's coming - Binance has already been reducing its presence in the US. 

Regulation is coming, but regulation does not equate to the end of crypto. In terms of the recent regulations, the US is focusing on centralized actors due to the past examples of LUNA, Three Arrow Capital, and FTX. In the general sense of things, crypto needs regulation as it ensures investor safety with:

  • No random issuance of tokens

  • No misuse of customer funds

  • No rugpulls 

  • No scam tokens

We need to rely on the code and the tech rather than the people. Check and verify - don’t just blindly follow. The last thing we want is another FTX. 

OTHER HEADLINES

$FUNDING$

MEME OF THE WEEK

Dis you anon?

Aand that wraps it up for our newsletter! Hope you enjoyed the news, memes and analysis. See you next week!

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.