EddieJayonCrypto
10 May 22
• After LUNA tanks, a lot of exchanges temporarily halted trading and withdrawals• Meta chooses Polygon as its Web3 partner• Mark Cuban agrees with me and thinks we are reliving the dotcom bubble!• Coinbase goes on sale!There are some major moves happening. If you are doing your research like me, yo...
• After LUNA tanks, a lot of exchanges temporarily halted trading and withdrawals• Meta chooses Polygon as its Web3 partner• Mark Cuban agrees with me and thinks we are reliving the dotcom bubble!• Coinbase goes on sale!There are some major moves happening. If you are doing your research like me, you are seeing some serious movement that foretells some future upside potential. Here is what is on my mind today.1. After LUNA tanks, a lot of exchanges temporarily halted trading and withdrawals. This includes Terra's LUNA and UST tokens. Like I said yesterday, I am not sure how they are going to fix the peg, but there is work to be done. I will also note I think there was a major panic and the more than 10% rise this morning kind of backs that up. Terra's BTC reserves were emptied during this time. 2. Remember when I asked what the significance was when Instagram said it is going to support NFTs? Well, now we know how serious they are. Meta, the parent company of Instagram and Facebook, has chosen to partner with Polygon to develop their NFT marketplace. If you know me at all, you know I love Polygon because it is what I call "connective tissue" in the Web3 space. This deal further excites me about the future of Polygon's growing ecosystem. 3. Mark Cuban agrees with me. I have been saying the current market is going to cause a shakeout of unworthy projects. Mark took things a step further stating he believes the current crypto market can be compared to the dotcom bubble in the early 2000s. I have been trying not to say it in such terms, but he has hit the nail on the head. That has been what I have been thinking for a little while now. So, what am I doing? Well, a lot more than dipping my toe in the water! 4. Given what is going on in the crypto market at the moment, you would think Coinbase would tank a bit. Well, that has been confirmed with Coinbase dropping 20% after announcing earnings. Of course, I think people oversold and there is going to be a bottom that you can get in on and snatch up some of the stock at a major discount.