EddieJayonCrypto
19 Jun 22
• Why I think The markets are trash right now; Three Arrows Capital is having what could be profound effects around the cryptoshpere• Octavio asked me to look into AMP and share my thoughtsTime for the Sunday round-up. Here is what's on my mind today.1. The effects of Three Arrows Capital is wreakin...
• Why I think The markets are trash right now; Three Arrows Capital is having what could be profound effects around the cryptoshpere• Octavio asked me to look into AMP and share my thoughtsTime for the Sunday round-up. Here is what's on my mind today.1. The effects of Three Arrows Capital is wreaking havoc across the cryptoshpere. They have invested all over the place, including Aave, Mina,dYdX and has a huge stake in Grayscale's GBTC. Let's not forget they also invested in BlockFi who I said the other day had to liquidate them. Then there is Celsius' demise. The market has taken a serious hit over the past week and I am looking for more of hit this week. I said if Bitcoin hits $19K, I will be looking for $15K. In that same vein, I am looking for ETH to drop to as low as $500. When or if they do hit those lows, I will be getting in even more! When ETH dropped below $1K I went in heavy. I also went heavy on ALGO. I mean where else am I going to make over 5% APY? My bank isn't doing that! 2. Octavio Leal asked me to look into AMP. Well, I did and the quick answer is I will not be investing my money in that project as of right now. I do think they are worthy of more research. They currently have a market cap of less than $363.5M and ranked 87th on CoinMarketCap. It is very hard to reach half a billion. Harder to achieve over a billion. Still harder to achieve a number over two billion. I think AMP has a marketing issue and that could be why I am misunderstanding their value proposition. I do like that they offer their white paper on their tech on the home page. I will have to dig in on the tech. Then more to see who is using it. I end with I am not an investor and won't be until I do more research, but I do think they are worthy of deeper research. BS or weaker projects are not so upfront with their tech and what they are at least trying to achieve.