Ethereum continues its monster rally now trading around $3,100 for the first time. It means by market capitalization it is valued more than Bank of America. The main driver for this rally has been on the ETHBTC pairing, which is reaching a weekly resistance area. We wouldn’t expect it to break through in one try, so plan for a retrace. And this might cause a pullback on other Altcoins, especially DeFi ones.
Another thought is this could cause a capital rotation back into Bitcoin, or potentially other Layer-1 smart chains such as SOL, BNB, or DOT. Might be a good idea to let Monday’s range play out and then make your decisions from there. Especially as many countries have a public holiday today, we might not see what’s up until tomorrow.
- Dogecoin: Traders seem to be betting that Elon Musk appearing on Saturday Night Live next week is going to pump DOGE triumphantly. Maybe this is the real DogeDay?
- Bitcoin: Analytics continue to point towards big-money investors accumulating BTC and moving it off exchanges into cold storage. Just this weekend alone over 18,000 BTC has moved off exchanges, that’s roughly $1 billion. Seems we might have another major institution making an announcement soon enough?
- Alibaba: On that note, there is a rumor floating around that the Chinese giant has been buying Bitcoin in the billions range. Financial results from their first quarter should be published around the 13th of May, so we will know soon enough.
- Ester Finance: Launched the first yield farming optimizer on Fantom, the team has built vaults that auto compound rewards from Popsicle and SpiritSwap. Nice!
- PancakeSwap: Users can now enjoy auto compounding of CAKE directly in the Syrup Pool, we can now say it’s truly set and forget. Learn more about farming CAKE tokens in our guide here.
- Basket DAO: Announced their security audit by Haechi is now complete, no critical or major issues found. Time to deposit funds into some capital-efficient baskets!
- SushiSwap: Kind of surprised to see SUSHI still trading in the $13 to 15 range, appears a little undervalued with the upcoming BentoBox releases. The team recently published a summary of its main features, recommend you read it!
- Harvest Finance: Sneak peek of upcoming UX changes, looks much more lightweight and professional. Find our full review on Harvest yield aggregators and vaults here.
- Uniswap: UNI just set new high trading at $45, most likely fueled by the release of V3 this week. Looking forward to the new capital-efficient pooling, seeing if it will cause a shift in liquidity, and how other AMMs react!
- DexTools: Released support for PancakeSwap V1 & V2, users can now find DEXTScore and real-time trading data for all pairs. Check out our full review on DEXT here.
- OliveSwap: This is a liquidity farming protocol on Avalanche which has been audited by Techrate. Currently, reward emissions look very lucrative even on the USDT pairs, Beefy’s vaults are in the 12% daily range.
- Moon Edge: A launchpad platform on Polygon for IDOs, given how quickly MATIC is growing, we could see the first projects that launch via this platform to receive a lot of attention. Recommend watching their announcements.
- MetaSol: A way for users to send USDC on Solana without needing any SOL in their wallet. Makes for a smoother onboarding process for users to make their first crypto payments.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
The Mountain of Fruit and Flowers
Can this sort of practice lead to immortality? asked Wukong. Impossible! Impossible! said the Patriarch. I won’t learn it then, Wukong said.
– Sun Wukong and the Jade Emperor
- Sollectify: An upcoming NFT marketplace built on Serum. Enables users to create, trade, and sell non-fungible tokens in all forms from artwork to game items, on Solana. Not sure if this platform will have a token, will be following.
- Disaster Girl: Zoe Roth, a 21-year-old student and the face of the Disaster Girl meme photo decided to turn it into an NFT which sold for $500,000 in Ether. Crazy!
- Aavegotchi: Released their roadmap for 2021, highlights are a Polygon to Ethereum bridge, Realm Parcels (land in the game), and GHST token being listed on Aave. Learn more about Aavegotchi in our full review here.