Happy Monday Track Trade! Thanksgiving is right around the corner, but before you go home to enjoy some time with your families – check out what TradeSage has been up to! Our TradeSage model has been busy as always, forming alerts to help you have a little more cash to spend on Black Friday by trading NFTs!

This Week’s Sales

This week we tracked another 30 alerts and transactions made by our TradeSage NFT Analytics model. Overall, we had 24 wins and only 4 losses for an overall gain of 1.229 ETH. If you’re new to trading, this is a great Weekly Review for you – Many of this week’s trades were of smaller quantities of NFTs, and lower overall price keeping risk low. 

This week’s top 3 sales were each great trades, either for their speed or large profits! Our top trade was the sale of 24 Monomyth By Heart You NFTs which increased in value by 50% and were sold the same day for a gain of 0.44 ETH! Read on to learn more about our other top trades…

Total gain of 1.229

TradeSage Week of November 20, 2022

Monomyth By Heart You: 24 Tokens, 0.44 ETH gain 

Bought 11/15 at 0.9 ETH

Sold 11/15 at 1.34 ETH

Our largest sale in terms of quantity: TradeSage bought 24 of these Monomyth by Heart You NFTs immediately when they launched on November 15th. TradeSage only had to hold onto them for a few hours before deciding to sell the tokens for an overall gain of 0.44 ETH! 

Looking back at the collections trading history, TradeSage made the right decision by buying in early on launch day, held long enough during the hyped phase, and sold before the decline that would start the next day!

Pepsi Mic Drop: 2 Tokens, 0.22 ETH gain 

Bought 11/01 at 0.18 ETH

Sold 11/16 at 0.4 ETH

If you bought a Pepsi Mic Drop NFT that we told you about a couple weeks ago, then things are looking up!

Since TradeSage bought 2 of these tokens on November 1st for about 0.08 ETH each, the collections floor has been steadily increasing! TradeSage then decided to sell and created an alert for TrackTrader’s on November 15th to sell each at 0.2 ETH, for an overall gain of 0.22 ETH.

This collection is much smaller than others, at only 1893 genesis tokens, which I believe is the reason why this collection is still trading well and retaining value long after its initial launch in December of 2021. I could see this collection having long term success, as the tokens genuinely seem like commemorative collectibles and could catch the eye of any PepsiCo fan, or introduce vintage and antique sign fans to a new art medium!

Sovereign Sphynx Council NFT: 2 Tokens, 0.21 ETH gain 

Bought 11/06 at 0.19 ETH

Sold 11/14 at 0.4 ETH

Our third transaction is very similar to the one above! Similar to the Pepsi sale we discussed above, 2 Sovereign Sphinx Council tokens were bought a couple weeks ago on November 6th, then held for 8 days and sold for an overall gain of 0.21 ETH. 

Since TradeSage exited on the 14th, the collections floor price has dropped slightly, so we are glad the model correctly recognized the need to sell items from this pfp collection.

Sovereign Sphinx Council is a larger collection of 8,888 NFTs, which may contribute to why trading has slowed.

This Week’s Buys

“Larger quantities” is one of the trends we are seeing in TradeSage’s new purchases this week, purchasing 6 pieces of an Art Blocks collection, and 29 Castaways Treasure Chests to make our top 2 purchases this week! Additionally, we saw TradeSage make a big investment into a single RENGA storytelling NFT for 1.07 ETH. 

Let’s dive in…

Castaways – Treasure Chests: 29 Tokens, 1.43 ETH

Castaways – Treasure Chests is a collection that launched this month and is yet to reveal their artwork! TradeSage alerted to this collection and decided to buy 29 tokens for 0.4 ETH each. 

Remember, TradeSage creates alerts that notify you of the best time to buy or sell an NFT and for what price. We take a deeper look into each transaction to see what trends we can deduce and help you make better trades!

RENGA: 1 Tokens, 1.07 ETH

TradeSages single biggest purchase this week was of one RENGA character. RENGA is a storytelling based collection of 10,000 NFTs and characters who each play a role in the story to be discovered. We discussed last week how storytelling NFTs are one of the hottest trends within the NFT space right now and RENGA is a great example. RENGA combines great artwork with a cohesive project roadmap and successful launch, and is currently holding around 1 ETH!

Market Updates: Author’s Notes

We are currently witnessing and will continue to see bad actors be flushed out of the crypto space. The unraveling of FTX has brought to light issues that lie within many crypto companies and web 3 projects, and that is fraud. Just as Sam Bankman-Fried had improperly set up and organized company funds across both his companies, FTX and Alameda Research, the same is being done throughout the crypto and NFT space.

This is a massive red flag, but it’s up to us to protect ourselves.

Misleading marketing and scams have been some of the biggest issues plaguing crypto in the past, as the market was riddled with pump-n-dump schemes that could be set up by practically anyone. Now though, the scams are a bit harder to spot, and have been built into platforms we are already expected to trust. It is not unthinkable that there are other companies operating improperly, and other pseudo-scams still underway that go deeper, that take advantage of and abuse their clients in big ways, like FTX did. This propensity for crypto founders to scam, or atleast to act in ways that doesn’t benefit their holders is because of two things: Low regulation, and their success marketing towards the undereducated. It’s unfortunate that though web 3 is build upon groundbreaking innovation, marketing has causes drastic fluctuations in the value of some investments.

As crypto and NFTs continue to become more and more popular, many winners are made, and unfortunately, there are even more losers. It’s important to always keep educating yourself within the crypto community, and to keep an eye out for projects and investments that are built upon legitimate and solid foundations – not just fancy marketing! 

In the NFT space, solid projects exist, technological innovation exists – great communities exist! However, now more than ever, protect yourself by doing your own research and making sure you understand how the project will benefit you – not use you!