The BTC Spot ETFs are here and markets dumped. But this isn’t a bad thing. A correction was overdue anyway.

BTC from GBTC were sold, because it can’t just be converted to other ETFs and it can’t be deposited directly into other ETFs without a little waiting period.

But there’re also the arbitrage traders, who are taking profits now. So not every sold BTC is flowing right back to another one.

3.10% of the BTC supply are already in ETFs, which is a big number and there’ll be a slow but constant grow.

Other participants are also selling, as well as the US gov is about to dumb some of their 216k BTC.

Overall the markets don’t react too much on bad news, which is a bullish sign. But the sentiment can change quickly, so always be ready and prepare your mind.

But I don’t see a strong narrative that’s driving the market up either. So I expect a side movement for a short period.

It’s all about points now. For that you’re either very early or you have a big wallet to farm with. Still, there’re great opportunities everywhere.

But don’t make the mistake to run after the crowd. Have a look to the left and right to find real gems. If your timeline is full of a project, the work usually isn’t worth it, if you only use it for the chance to get airdrops.

DeFi Updates

Don’t forget to claim your MNT until Feb. 28th

This also means extra MNT rewards will go live on lots of projects. Let’s see if the noice around MJ claims will bring more users to Mantle.

I won’t sell any MNT soon, since I still believe that this eco will make an impact soon.

60% of the 422k TIA delegators are staking less than 25. You gotta boost those rookie numbers!

Historically 25 to 30 have been a good number in the Cosmos eco to be eligible for airdrops.

If you’re on a budget, you should stake at least 31 and to be on the safe side more than 50.

WHALES is looking interesting and I could see a hype appearing on the horizon.

I got a little bag here.

If you have been active on SOL in the past, keep an eye on that.

Perp points are pretty easy to farm while making some profit. Buy spot, go short on the perps and earn funding rates.

@zerototom and @DefiVoyager_X have some nice info for this.

https://x.com/zerototom?s=20 
https://x.com/DeFiVoyager_X?s=20

INIT is still boring and only borrowing/lending is available at this point, but you can earn points. MNT incentives are live as well and you can borrow MNT and even profit rn.

INIT is looking very promising once all features are launching. At least there’s some hype around that project. So farming points might not be the worst idea, especially now, when you even earn while borrowing.

If you’re still using MetaMask, you must be at least 60 years old. Go and get Rabby now! Also with points now.

Use my code SEXYLIFE for extra points.

Frax is promising a lot recently. I’m not sure if all of that stuff this is even possible, at least it will take a long time.

But if they can really pull that off… oh boy! This is going to be such a no-brainer.

Investing

I’m thinking about running some nodes. Some friends were talking about it.

Celestia nodes were printing as well. If you hit the right projects, this could turn out as the best investment.

I will dig a little deeper and will report my findings in the next letter.

Macro

FOMC meeting today. The FED left rates unchanged… what a surprise.

Rates don’t have much impact, but some short-term volatility, on the markets anyway.

Let’s see if there will be cuts soon. Theoretically, they could go with higher rates for longer. They just have to devalue the currency even more.

Re-election of the Democratic Progressive Party, which means tensions in the area. But the likelihood of a war is still very low.

China has too many internal problems atm. But sooner or later Taiwan will be part of China again. I think they’re going to play the long game and do that from within. So no war imo.

Stay Sexy!

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