Video Overview
In this episode, Wajahat discusses his crypto portfolio and the recent market trends. He delves into specific altcoins, their performance, and his investment strategies. For a more detailed look into his insights, watch the full video.
Notable Quotes
- “Lyra V2 is coming for like ages and ages now.”
- “These are the steps that I think it takes to bring retail to options.”
- “We’re talking about 65 million and 113 million FDV.”
- “There’s a massive, massive way for protocols to kind of eat into that market share.”
- “It’s done a 10X pretty much in the bear market, which is incredible.”
- “I think protocol FX is a fantastic protocol.”
- “It’s significantly more adoption than that of Band and API3 and other Oracle providers for now.”
- “Blur has a pretty high FTV 1.5 bill 500 mil market cap but it is still the number one NFT lending platform.”
- “I find it pretty hard to value AI coins because first of all, I don’t really find much AI value there.”
Discussion Highlights
- Portfolio remains mostly unchanged with a slight pullback from its peak.
- Lyra, an options protocol, has seen a significant pump due to upcoming updates and hiring key personnel.
- Account abstraction and user-friendly sign-in options are expected to attract retail investors to Lyra.
- Protocol FX has seen a 10x increase, driven by its innovative ETH derivatives and strong community.
- Pyth Airdrop, now the second-largest Oracle after Chainlink, launched at a high valuation.
- Blast, a new layer two solution, has been released, causing Blur token to surge in value.
- Vertex, a perpetual exchange, has doubled in price and is being closely monitored for potential investment.
- AI and gaming tokens are experiencing significant growth, though their valuation can be challenging.
Controversial or Unique Ideas
- Lyra’s approach to simplifying options trading for retail investors is seen as a significant step forward.
- The rapid success of Protocol FX in a bearish market is notable, raising questions about market conditions.
- Pyth’s high valuation upon launch is controversial, considering its position as a newcomer in the Oracle space.
- Blast’s approach and the involvement of Blur has sparked debate, particularly regarding the multi-sig aspect and fund locking.
- The valuation of AI and gaming tokens is contentious, with some viewing the surge as hype-driven rather than value-based.
Portfolio Update and Market Overview
Alright folks, let’s dive into the latest from my crypto journey. I’ve been keeping an eye on my portfolio, and guess what? It’s pretty much the same as the last time we chatted. We hit a peak around $21,000, but then the market gave us a little slap with a pullback. I haven’t messed with the portfolio since the last episode—no new additions or subtractions. But, I’m sitting on a pile of stables ready to deploy if the market gives us a juicy dip. Now, almost everything’s in the green, except for that pesky YTK. But let’s not get sidetracked, Lyra and Gearbox have been on a tear, and we need to talk about that.
Lyra’s Surge and Upcoming V2
Lyra, that options protocol, has been teasing us with their V2 for what feels like an eternity. They’ve even snagged the ex-head of design from Robinhood, and we all know how Robinhood’s been killing it with options. This is big news, folks. They’re making moves like account abstraction, and soon you’ll be able to sign in with your damn email or Apple ID. This is the kind of shit that could bring the retail crowd into options. They’re also chatting about tweaking the Lyra token, so keep your eyes peeled for that. All this buzz is why Lyra’s price rocketed from about 5 cents to a peak of 13 cents. And let me tell you, there was a massive $500,000 buy that pumped it from 7 cents. With a market cap around 65 million and an FDV of 113 million, Lyra’s got potential. I’ve been scooping it up, and we’re finally seeing some profit. But don’t expect me to add more to my 7% position just yet.
Gearbox and Other Portfolio Standouts
Gearbox has been performing like a champ, but I’ll save the deep dive for another day. You can check out my interviews with their team for the juicy details on V3. The rest of the portfolio? Pretty flat, nothing too exciting in terms of gains or losses.
Emerging Tokens and Market Movements
Let’s shift gears and talk about some new kids on the block. We’ve got tokens like FXN pulling a 10x even in this sketchy market. I’m a community booster, so I’ve got some skin in the game, though I haven’t received my tokens yet. FXN’s FDV is hefty, but with a tiny circulating supply, it could keep soaring. Then there’s the Pyth Airdrop, now the second-largest Oracle after Chainlink. It’s valued at around $4 billion, which is a bit rich for my blood, but it’s worth watching.
Blur and Blast: The NFT Scene
Blur’s been on a rampage, with its token price multiplying thanks to the new layer two, Blast. It’s the top dog in NFT lending, so if you want a piece of the NFT action, Blur might be your ticket. But I’m not thrilled about the multi-sig setup or the fund lockup until February. Plus, the whale party there isn’t for small fry like me.
Vertex: The Perpetual Exchange Contender
Vertex, the perpetual exchange, has doubled in price since launch, and it’s the current volume leader. With a 500 million FDV and an 81 million market cap, it’s got room to grow. They’re dishing out ARP tokens with solid yields for LPs, and the platform’s UI/UX is top-notch. I’m keeping an eye on this one, and it might just make it into my portfolio.
Duce and the Intent-Based Platform
I’m not a fan of Duce’s platform, but the Duce token is a gateway to the SIM token, which is leading the intent-based platform scene. Intents are a hot topic, and while SIM won’t drop until Q1 2024, you can get early exposure through Duce. Though I’m not keen on Duce’s website, the potential for SIM is intriguing, and I’m watching it closely.
AI and Gaming Coins: The Current Rage
AI coins like Tao are exploding, with valuations hitting the billions. It’s hard to gauge the real value behind the AI hype, and gaming tokens are another puzzle. Take Alluvium, for example—great game, but a $1.1 billion valuation? That’s nuts. Still, gaming and AI are where the action is, and even though I’m not invested, I can’t ignore the trend.
So, that’s the rundown. The portfolio’s sitting at $20,413.98, and there’s not much else to update. I’ll keep you posted on these alts and more in the next episode. Hit that like button, subscribe, and drop your thoughts or requests in the comments. Catch you on the flip side with more content.
