Issue 20

February 10, 2023

Bitcoin NFTs & Top NFT Trends to Watch

Contents

Introduction

By The Moralis Research Team

Welcome back, everybody. It’s been another exciting week in crypto, and we’re pleased to bring you the next edition of Moralis Research. Today, we will be interested in getting your feedback on the content of these reports. Please take a few minutes to give us your feedback here.

This week we saw a slight decline in equities and crypto assets prices. On a macro level, rising inflation remains a major concern. The FED continues fighting to bring the inflation rate back to acceptable levels. On the other hand, large corporations continue to tighten their spending budgets for fear of a potential recession in 2023.

In traditional equity markets, Goods inflation is coming down with shortages and supply chains easing. The FED’s focus is shifting to “super-core services inflation,” basically services inflation less housing.

The AI race has also been all the rage this month as the competition starts to hit up among tech giants. Who will win between OpenAI/Microsoft’s ChatGPT, Google’s Bard ai, or Baidu’s Ernie? Only time will tell.

In this week’s crypto updates, US regulators continue to tighten their grip on the cryptocurrency market. Rumors surfaced that the SEC might be trying to eliminate the activity of crypto staking in the United States. These rumors were amplified following a Twitter thread by Coinbase CEO Brian Armstrong stating that the Feds may soon clamp down on staking.

Despite all the attacks by regulators on the industry, we are still here fighting and believing in crypto currencies’ power and promises to humanity. Increasing your knowledge is the best way to ensure that you are prepared to take advantage of the opportunities along the way. In Web3, Moralis Research is your wingman.

We’ll always provide you with our research to help with your education. We’ll keep close track of the main developments and evolution of the niches in blockchain so that you get the best of the new knowledge. When you’ve finished reading your report, please remember to fill out the feedback form, your feedback is valued, and we’re always open to suggestions.

Cryptocurrency Market Overview and Analysis

For those new to my analysis, I do trend trading over long timeframes.

Global tech only has two outcomes: Giant success or catastrophic failure. Tech either does a 100x or goes to zero, with little in-between. Before reaching either end point, the asset price will trend for extended periods.

My process aims to give exposure during those periods of established trends. That way I can enter with more capital for any given risk, compared to a hold only approach. I don’t try to catch tops or bottoms. I don’t worry about intraday movements. My style of analysis is not suitable for day traders or range traders. When it comes to tech, the big gains come from catching big moves over long periods of time.

This is an analysis at one moment in time. Market structure can change in an instant. When presented with new information, I will adjust my opinion accordingly. Technical analysis of historical data is not a prediction of the future. It is a tool that can aid in finding setups for favorable risk-reward and points of invalidation.

FOR GENERAL INFORMATION PURPOSES ONLY, NOT FINANCIAL ADVICE.

All information presented in this report references an opinion of the author and is for general information purposes only. You must not construe any information presented as legal, tax, investment, financial, or other advice. Nothing presented constitutes a solicitation, recommendation, endorsement, or offer to buy or sell financial instruments. I am not a licensed financial advisor or registered investment advisor. For financial or investment advice, seek a duly licensed professional in your jurisdiction, who can take your specific situation into account. Past performance does not indicate future results. You are always at risk of losing all invested funds. I don’t give advice to buy or sell specific assets. The education and software tools are timeless and generic for any asset. Rather than relying on subjective market opinions, I apply the principles of technical analysis formulated in 1930s on historical charts. Anyone can apply the same process and get the same result. Technical Analysis does not predict the future. It is a tool to find setups for controlled risk/reward. Larsson Line does not predict the future. It is a mathematical formula for trend expression. My objective with this report is to help you reflect on your own analysis, not to replace it.

Disclosure: I hold Bitcoin and Ethereum exposure through company ownership and in my personal capacity, as ETP price tracker certificates through my bank.

Trend Analysis

Bitcoin (BTC)

Rejected at first resistance

Ethereum (ETH)

ETH/BTC looks exactly the same for months

Binance (BNB)

BNB/BTC is struggling

Cardano (ADA)

ADA remains weak.

Solana (SOL)

SOL/BTC painted a symmetrical triangle

XRP

XRP/BTC remains in its wide range.

Polygon (MATIC)

THIS is interesting.

Bitcoin (DOMINANCE)

Bitcoin dominance (excluding stablecoins) is able to give us clues

Bitcoin

Approaching first real resistance

The picture so far is clear: Bitcoin got a rejection near the first real resistance at 25k.

Since the trend remains up, I’m happy about the prospect of another opportunity to buy at support.

Web3 Wallet: Start Guide

Metamask Wallet

In this overview we are using Metamask, the most popular Web3 wallet and ID system. Alternative methods do exist but are not explained in this overview. For a more detailed tutorial navigate to Moralis Blog.

STEP 1 Download and install the Metamask wallet

The first step to getting started with Metamask is to install either the browser extension wallet or the mobile version for iOS or Android.

(in the upcoming steps we will cover the browser extension version, but the steps are similar if using a mobile option)

STEP 2 Get Started

Once downloaded and installed, we are presented the option to  [Get Started].

STEP 3 Import or create new wallet

Once downloaded and installed, we are presented the option to  [Get Started].

STEP 4 Opt out of Data collection

Once downloaded and installed, we are presented the option to  [Get Started].

STEP 5 Set up your password

Next we must specify a password for our wallet, this password will be used when signing transactions (we specify a password and agree to terms in order to continue). This is not a private key.

STEP 6 Watch the instructional video

Next, the wallet displays an instructional video on seed key security. The video is highly recommended for new users, or anyone generating a seed for the first time.

STEP 7 Create your seed phrase

Selecting the [Next] button, prompts the generation of a new seed phrase, a related warning is displayed.

STEP 8 Verify your seed phrase

After revealing our seed phrase and storing it securely, the [Next] button becomes selectable. Proceeding from here, we are asked to confirm the phrase as a final security check, to make sure that you have stored the seed phrase accurately. By simply selecting the words in the correct order, our seed phrase is verified, and the [Confirm] button becomes selectable.

STEP 9 Complete wallet setup

Once selected, the final confirmation page indicates that our wallet setup is now complete. Here we select [All Done] and our wallet is ready.

STEP 10 Start using your wallet

When looking to receive funds (cryptocurrency or NFTs), the public address can easily be copied from the top of the browser extension wallet.