July Market Update 🤖
Big Tech at All Time Highs, Crypto Stable, NFTs Look for Bottom
With another hike from the Fed, in the face of 3% inflation, there is not much more room to go. The market is looking past the hiking cycles and into lower rates and higher liquidity in the next 6-12 months. Long tail assets are seeing massive inflows as sidelined cash tries to catch up. The QQQ ETF is only 6% away from its all time high with Bitcoin & Ethereum relentlessly looking to move to new highs. The recent XRP court ruling was very favourable for Crypto as it confirmed that most Crypto assets are not securities and not under the purview of the SEC. NFTs may be in the “Hope” phase after a massive capitulation event at the start of the month. With most projects down >95% from all time highs, the avarice of the bull market now seems like a dream from long ago. However, most collections have <2% of assets listed and many have a devout collector base. The next NFT bull run awaits liquidity.
My top investment ideas are CloneX, Bored Ape Yacht Club, Checks, Opepen, Otherside, RTFKT Animus Egg, RTFKT MNLTH X, RTFKT x Nike Dunk Genesis CRYPTOKICKS, Doodles, Ethereum, Bitcoin, and ARKK.
RTFKT teased a 2D image from project Animus and the team has been working on Dunk Genesis and seems to be at Nike HQ.
Still, very impatiently waiting for updates on Otherside and Legends of the Mara.
Bored Ape Yacht Club announced Made by Apes, an event in Miami at the end of August, and Apefest in Hong Kong in November.
Moonbirds Mythics are slowly being revealed with great praise and appreciation for the art.
Jack Butcher’s Opepen took the spotlight for a while with the entire Web3 space changing their PFPs to Opepens.
Doodles announced dates for their Camp experience going live.
The next investment idea will be out soon. If you haven’t already, please upgrade your subscription now to receive it when it is published.
To the moon and beyond,
Andrew
Disclaimer
The content of this letter is for informational and entertainment purposes, and should not be construed as personal investment advice.