Sahicoin Alpha Newsletter (8th Aug 2022)

Welcome to Sahicoin Alpha, the newsletter that brings you the Top Alpha from the Cryptoverse!

Aug 08, 2022

We have a new NFT winner, and it’s called CryptoDickButts!
“I’m not a crypto boy I’m a crypto man”
Bear Market rallies continue
The $740bn Inflation Reduction Act
Updates from Defillama

Meet CryptoDickButts

Imagine showing this headline to someone in 2002 and telling them this is the future.

Frank Chaparro @fintechfrank

It’s getting very difficult to convince my mother the industry in which I work is real

Do you still believe we’ve seen the bottom?

im_not_a_crypto_boy_im_a_crypto_man

It’s a banger!

John W. Rich Kid (Wendy’s Fry Cook) @JohnWRichKid

I don’t care about your crypto, boy

What’s crypto without the memes?

Bull in a Bear!

Though in a Bear market, we are witnessing healthy sector-based bounces because of upcoming catalysts.

One of them is the “LSD” trade (liquid staking derivative), which has seen the tokens of ETH staking projects like LDO, SWISE, and RPL outperform because of the upcoming ETH 2.0 merge.

Along with it is Ethereum Classic($ETC), following the narrative that Ethereum Miners will now move into Ethereum Classic once the transition to proof-of-stake(ETH 2.0) completes.

ICYDK: Ethereum Classic uses a proof-of-work(PoW) mechanism for its blockchain, while with ETH 2.0, Ethereum will transition from a PoW mechanism to a proof-of-stake(PoS) mechanism. Only PoW chains have “Miners.”

Alongside there are low-med cap projects like GMX($GMX) and Optimism($OP), catching the soaring TVL and “Real Yield” narrative.

Optimism Total Value Locked(TVL) grew by 280% in a month!

However, be cautious because most of that TVL comes from high OP token emissions on Aave.

Barry Fried 🦇🔊 @BarryFried1

Oh boy… The same $OP token being mass-given away as liquidity mining incentives + absolutely zero utility right now? Optimisms Temporary Value Locked (TVL) made up of 95% $OP incentivized successful mainnet protocols? Anyone know where to short $OP? https://t.co/RWOaIUfjoJ

Alucard.eth 🦇🔊🐬(@dracula.lens) @Alucard_eth

Optimism TVL now at $2.17b 🤯 For reference, Avalanche TVL is at $2.42b And still $OP is only at 5.7% of $AVAX marketcap. The market is clueless about what's going on and not pricing $OP correctly. It's fun to be early. https://t.co/Zz580wnkRK

Here’s a good thread on GMX

CryptoPepe🦇🔊 @PepeOnDrugs

$GMX is one of the biggest narratives in #DeFi right now, I took everything important about @GMX_IO and put it into this thread. If you want to trade with reduced fees: gmx.io/?ref=CryptoPepe Now, grab a coffee and enjoy the education: 🧵👇

gmx.ioGMXGMX Decentralized Perpetual Exchange

Ross Booth @therossbooth

#RealYield is the next DeFi trend. Tokens to keep an eye on: • $GNS • $GMX • $UMAMI • $CRV + $CVX • $DPX • $SNX • $GLP Categories they fall under: • Decentralized leverage trading • Synthetic asset issuance • Risk-hedged yield vaults • Liquidity ecosystems

Conclusion: Play the narrative, dump on FOMO buyers, find the next narrative, and repeat!

Not Financial Advice(NFA)!

U.S. Government: Folks, don’t worry we are going to reduce inflation by printing 3/4 of a trillion dollars.

US Senate passes the $740 billion "Inflation Reduction" Act.

“The act will look to fund clean energy initiatives, lower healthcare costs, and create new jobs along with cheaper prescription drugs, tax credits for EV buyers, and raising corporate taxes.”

Let’s get to the memes, shall we?