TradeSage Newsletter #6
With everything that’s happened the past week, we’ve gotta start with the news…
That thing that happened with FTX
It’s been a wild week in the crypto world, and you’ve probably heard about all the chaos surrounding one of the biggest crypto exchanges, FTX. After we posted last week’s newsletter, FTX went from having liquidity issues to bankrupt in 1 day. Bitcoin and Ethereum tanked once again after FTX went under early last week, filing for chapter 11 bankruptcy, prompting the White House to comment on a need for more regulation of cryptocurrencies. Oh my… Along with FTX’s fall from grace, many celebrities and creators who have promoted FTX for months now are also feeling the pinch for promoting the exchange.
Throughout this chaos, we remain bullish on web 3. The main reason why I remain active within the space is because I truly believe in the technologies being developed around cryptocurrencies, NFTs, and support decentralization. We believe that though the day to day value of cryptocurrencies may fluctuate, the direction of the technology and the market overall is clear. Our founder broke it down like this on our twitter…
Bigger Issues Around Marketing Cryptocurrencies and NFTs
FTX’s collapse points out a bigger issue within the crypto space overall. Crypto and NFT marketing has thus far relied heavily on trust and promises. Collections and founders make promises, and ask for their community to trust that everything behind the scenes is running smoothing. Additional issues around celebrity and creator marketing and shady promotional dealings also muddy up the waters. Many alt-coins and NFT collections find success by driving “hype” and building excitement around a launch, but many end up not only stretching the truth, but also lying. A takeaway from this whole situation would be for consumers to continue to demand real transparency out of their exchanges.
This Week’s Sales
This week TradeSage made 27 sales and all were gains – except for one! Our biggest gain this week was from the sale of 7 Soverign Sphinx NFTs we mentioned in our last weekly review! TradeSage purchased them on 11/6 and sold them the next day – doubling its money! Our other top sale was of the DWC Genesis Diamond Pass, which was sold for a 0.54 ETH gain on 11/9. This trend seems popular for crypto enthusiasts who remain devoted during this downtime. Last week, TradeSage also picked up other genesis passes for early access to future drops.
TradeSage also sent out some alerts to sell some token’s it had picked up last week like our featured collection, Johnny Depp’s Never Fear Truth which was sold for a 2x gain, and Lazy Ape Yacht Club.
Overall, great work from TradeSage! The model is consistently picking positive trades based on its alerts. This week, 26 of the 27 trades were positive for a total gain of 2.91 ETH. We hope to continue to perfect TradeSage’s algorithm to increase the size of gains as well!
Total Gain of 2.91 ETH
Sovereign Sphynx Council NFT: 7 Tokens, 0.59 ETH gain
Bought 11/06 at 0.64 ETH
Sold 11/07 at 1.23 ETH
This collection is a pretty ordinary collection of 8,888 hand drawn pfps that offer basic utility items like access to their holder community, whitelist access to other Sphynx drops, and access to their store. Based on these basic utilities, it’s good TradeSage was able to ride the wave up and exited quickly! The 7 NFTs were held for just a day and doubled in value for a gain of 0.59 ETH overall!
DWC GENESIS DIAMOND PASS (NEW CONTRACT): 1 Tokens, 0.54 ETH gain
Bought 11/05 at 0.06 ETH
Sold 11/09 at 0.6 ETH
DWC is a pass that grants NFT holders access to the Donte Walker’s collective and network, and is meant to give traders more confidence in their NFT trades. This was a HUGE flip, 10x our original buy in of 0.06 ETH and sold for 0.6 ETH after just 4 days!
Creepz Mega Shapeshifterz: 3 Tokens, 0.23 ETH gain
Bought 11/09 at 0.22 ETH
Sold 11/10 at 0.45 ETH
Creepz Mega Shapeshifterz is part of the Creepz ecosystem. You may recall the Creepz Genesis Pass which we analyzed last month in an earlier TradeSage Review. TradeSage thought the genesis pass would be a good flip then, and similarly now got in on the anticipated new collection. Mega Shapeshifterz shows off top celebrity business personalities as their lizard-people alternates… does anyone else find these oddly unsettling?
Wins from Last Week’s New Purchases
TradeSage made countless wins over the past week, and once again there are too many to analyze one by one. The following 6 collections are ones that TradeSage purchased last week and their associated gains. TradeSage created alerts to sell each at particular times, and produced the following gains.
This Week’s Buys
We are checking out our new buys a little differently this week!
As you know, TradeSage creates alerts that let you know when to buy or sell an NFT, and for what price! Each week we analyze the alerts and hypothetical trades to improve the algorithm and alert system.
This week, instead of analyzing the trades by highest volume, we will be looking into 3 eye-catching and interesting collections! This week’s fun buy for-the-culture is Budweiser’s Budverse Cans. We also look into the Deck of Degeneracy Collection which has some unique artwork, and another genesis pass, MightyNet.
Of the 25 new purchases, all were purchased for under 0.32 ETH – so if you’re a trader looking for something small to buy into, there are plenty of options to choose form.
Budverse Cans – Heritage Edition: 1 Tokens, 0.15 ETH
For the love of beer – we are taking a deeper look into Budweiser’s first NFT collection, Budverse Cans Heritage Edition! Budweiser is getting into the NFT space and launched a long awaited collection of 1936 unique digital cans. This smaller collection has been trading well, with over 1645 ETH in volume traded! In the month of October, Budverse Cans were trading for 0.3-0.4 ETH, so TradeSage must have picked up on signals that they were available for an unusually low price and picked one up for 0.15 ETH. If you’re interested in NFTs and beer, this may be one to keep an eye on!
Sovereign Sphynx Council NFT: 4 Tokens, 0.38 ETH
TradeSage decided to buy 4 more Sovereign Sphynx Council NFTs for a total of 0.38 ETH. It looks like this collection has been around for quite some time and has seen an increase in trading activity over the past month. We will follow up and see what happens!
MightyNet Genesis Pass: 1 Tokens, 0.32 ETH
Another genesis pass is now available on the market, and that is the MightyNet Genesis Pass. MightyNet is also building a web 3 gaming ecosystem. Pass holders will get early access to future pfp collection drops and game builds from MightyNet’s ecosystem.
That Caught My Eye: Deck of Degeneracy: 1 Tokens, 0.12 ETH
Interesting artwork this week is from Deck of Degeneracy. Personally, I love seeing artwork that takes a step away from the traditional pfp look. In our first TradeSage newsletter, we talked about RugRadio, which created NFTs that looked like rugs in the perfect aspect ratio for a header. Maybe I am a girl of simple pleasures, because Deck of Degeneracy also intrigued me.
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Word of the Week
Most people can agree that one of the biggest lessons from the past week in crypto is to keep your savings in a hard wallet!
Ironically enough, even though we push for decentralization, and hope exchanges don’t collapse like FTX, we are not there yet. Until then, it is best to keep your hard earned crypto safe in a hard wallet. If you don’t have a hard wallet, at least try to keep your funds within an exchange you can trust… perhaps not one started by a Sam Bankman-fried type figure.
