In this altcoin season, find out the different ways to make massive profit in crypto right now!
Bitcoin is currently hovering above US$42K, but the market seems to be calm and this is largely due to the inflation rate sitting at 7%, according to the FED. On the show today, Ran talked about the 6 coins you should consider bagging this altcoin season. He also exposed different ways to make huge profits from FTM.
Right now, Bitcoin is at US$42K, with the highest inflation we’ve seen so far and yet the market is fairly calm. The lack of a serious frenzy upward is mostly down to the market not exactly looking at the inflation number itself, but whether or not the number is above or below the forecast.
In March, the interest rates are going to increase and the market will pick up its pace again. Even though BTC has increased in price, Ran thinks the run has not started because of the impending short squeeze. According to him, this is going to be the biggest short squeeze we’ve ever seen because of leverage numbers.
For all you Degens, here’s the kicker. Although Bitcoin is doing quite well, where the real fun is, are altcoins. Altcoins are currently outperforming BTC, for example : 82% on LaunchX, 38% on Moonbeam, and 29% on Liquidity. The Bitcoin dominance is now back at the 40% level and it may just be following the 2017 scenario. For those that are not aware, in 2017, the Bitcoin dominance went down from 70% to 35% within a month, while altcoins stole the show. Right now, it feels like we’re having a repetition of the 2017 bullrun.
Ran believes this altcoin rally is not about every altcoin. So, you can make money by just investing in altcoins, but if you want to make a wicked profit, you have to follow the narrative. If you can guess the narrative before everybody else, you’ll make more than everybody else. Last year, the narrative went from NFTs, to Axie, to other play-to-earn games, next we started Solana season, then came Cardano, closely followed by Avax, Luna and finally, Fantom at the beginning of 2022.
If you know crypto, you’ll know it’s all about narratives and following where the bees are. Right now, they’re on Fantom. Ran advised that you don’t put too much money into Fantom because at this point unless it’s a long term hold – because, that’s where the bees are. Of course, if you do, you’ll still make money, but if you want to make even more ‘honey’, start thinking of where the bees are heading next.
He also thinks after a longer term downtrend, decentralized finance (DeFi) is where the buzz will migrate to next. And not just DeFi, but some specific narratives inside DeFi. One is the combination of NFTs, play-to-earn, gamification and DeFi. So, what you should be looking out for is: who might the next DeFi kingdoms be?
There’s another narrative that Ran is positive will be huge and he gave six tokens that will blow up if this narrative wins.
Ran gave clues as to what this mystery narrative might be. First is a list of the world’s most visited finance websites in the last month, with Coin Market Cap (CMC) coming in second, Binance in sixth place, Coingecko followed in the ninth position, and Coinbase as well as Opensea coming in fifteenth and seventeenth respectively. The second clue is a tweet about Coinbase holding billions of dollars in crypto for institutions.
Both of these clues point to the fact that institutions are coming into crypto. Ran thinks this is because they can not beat the traditional market, so they are coming to DeFi not to buy crypto, but to get returns. So, in preparation for adoption of DeFi by these institutions, what altcoins should you be bagging? Because the reality is that they are not merely coming in for Bitcoin any longer.
Today, the Bank of America released a piece of research, recommending that people buy $SOL after standing against the crypto market in 2017. Right now, the bees have left Solana to Fantom and other places, but you can be sure they’ll be back and Solana will have another run.
Qredo uses multi-party computation for crypto key management. It shards (breaks them into pieces) private keys and several parties must come together with their different shards to unlock the wallets. This allows institutional adoption because institutions cannot give their private key to only one person. If you believe in institutional adoption, then you should bag some $QRDO.
Aave has recently launched permissioned DeFi pools for institutions. So, this is the right time to load up on $AAVE in preparation for DeFi adoption.
When institutions come to DeFi, they won’t know where to start. And because yield farming is a skill that not many people have, they will want to follow people that can yield-farm. And one of the few places to do that is on Donkey Finance.
Spool is a permissionless DeFi middleware toolkit that allows users to establish completely customized, automated, and diversified yield farming portfolios with just one deposit. It allows any institution to follow DeFi strategies while keeping their capital safe. Spool launched in February and the IDO is now closed. Ran thinks it can go 5X to 10X.
When institutions come into DeFi, the easiest place for them to earn 20% is simply to buy UST and stake it to ANC.
Fantom now has more total value locked (TVL) than Solana, but there’s a huge price differential of 6X between the two. Apart from everything Fantom has going on, Fantom has incredible incentives for holders of FTM. Ran gave some incredible ways to make money from FTM.
If you’re looking for a massive boost to your portfolio in the coming months, now is the time to think ahead. The narrative has been predicted to shift to DeFi very soon and you should be proactive in securing some well-positioned coins such as the ones listed above.
And if you’ve already bagged yourself some FTM, take advantage of the different methods available to make even more money.