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What Is 4ETH Out of $600m as a Percentage?

Plus word on the street about Otherside, Uniswap and Solana

Author

Logan Jory
July 08, 2022

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BTC: $21,769.78 // +6.66% 24h

ETH: $1,242.03 // +5.61% 24h

Most crypto newsletters are boring and pretentious.

This is The Reveal, where the fun side of crypto is pumped and dumped into your inbox every Friday.

A hearty GM to you kind folk to cap off our first week 🧢

Let's get into it.

Top Tweets 🐣

What's going on in the world of crypto, through the eyes of Twitter.

1/ Solana Lawsuit

Solana is one of the most hyped coins around with fans like the very honourable Jason Derulo who "betted" on it, but yesterday came under scrutiny as a potential security.

If it's deemed as such by the finance suits, the exchanges where you keep your crypto will de-list it and other coins will come under the same spotlight.

TLDR; Solana could be the first domino to topple crypto 🙃

2/ NFTs for Good?

Johnny Depp's "Trial by TikTok" success in the courtroom comes with a cherry on top: almost $800,000 has been donated to charity from the proceeds of his NFT project. It's a nice reminder of what isn't talked about very much: amongst the greed, web3 can be a force for good.

Just imagine how much they could've raised if the project was a big success!

Have others raised more in the past? Let us know.

3/ RIP Coinbase NFT

Remember when we were all poised for Coinbase NFT to sweep us of our godforsaken feet and into the promised land of mass adoption?

All our NFTs were going to 10X just because all the normies were desperate to get in but couldn't figure out how to work OpenSea...yeah sure.

Seems obvious with hindsight. A bit like ill poop it NFTs not being the next blue chip.

Finance Guy 👨‍💼

We've hauled in our resident anonymous finance guy (RAFG) to give you his hot take for the week. As always, do your own research as he works in finance but isn't a genius.

Uniswap: The Buy of the Decade?

Uniswap is one of the most well-known platforms where you can swap a coin for another coin. It has its own coin called UNI, and we think it's a good time to buy it.

Why? 3 reasons:

1. It's cheap as sinTo use a tradfi metric, which makes sense for a platform like Uniswap, the current price/sales ratio is just over 2, which, given the low cost of running such a platform isn't a way from what's called a price/earnings ratio.

This would mean for any investment you would only need to wait 2 years before getting your money back in earnings.

At a current price of $5.40 it is down 88% since its all time high of $44.92. Certainly feels cheap.

2. Mega growth opportunityThe above ignores the growth potential. Uniswap has been around for less than 3 years and has done $1 trillion of trading volume.

Decentralised exchanges (DEX) still only account for around 15% of total crypto trading, but have held up well during the current time when there have been worries over many more centralised players such as Celsius, which halted withdrawals back in June.

3. Dominant defi playerIf you believe that the crypto industry will grow exponentially from here, Uni is by far the best positioned DEX to capitalise.

Its annualised fees are second only to Ethereum at the time of writing and around double of the next 25 defi companies.

You buyin'?

Shiny New Toys 👀

Otherside, Bored Ape Yacht Club's answer to the metaverse, ran a stress test on Wednesday with 2.5k+ concurrent users all running around frantically to try and break the system, and everything went smoothly. It's difficult to not get excited by what might be in store and Crypto Twitter is loving it.

We spoke to @tropoFarmer, a big BAYC name who streamed the test on Twitch:

The tech works. We were worried that thousands of concurrent players in a single instance wouldn't work, but it works, and it works well. That alone sets a very positive tone for Otherside.

The movement felt good, which is supremely important for a game.

It remains to be seen what we'll actually "do", but I am very optimistic that it will be fun and engaging.

I'm most excited about actually USING our apes, mutants, Kodas, and other NFTs, playing with them and engaging with other NFT owners.

In many ways it's a proof of concept for NFTs and gaming, and if they can nail it – and things are looking good – then it bodes very well for our space.

Confession Corner 🤫

Long(ish) but a goodie about Celsius not paying a partner their share of profits. Yeah we know it's not a confession per se but it's all good stuff.

Send in your confessions by replying to this email to be featured in our next Confession Corner!

A Digestif 🍸

Disclaimer: Obviously, none of this is financial advice. This newsletter is strictly recreational and educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Always be vigilant of scams and exercise caution – in other words do your own research.