🦸‍♂️ Reddit is Making Crypto Cool Again

and an updated Matt Damon crypto ad after bitcoin dumps 60%

Happy Fridays mates, with all of the Twitter hype from Elon and CZ this could have been a full edition on the takeover, the improvements and what this means for us as CT users. Has CZ just got one up on Vitalik?! Will the BSC CT micro space once again reign supreme?!

Whilst CZ and Elon work to rid CT of larp…sorry…bots…let’s jump into today’s enclosure.

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In Todays Enclosure

The Big Topic - Make Crypto Cool…Again!• Bitesized bits - CZ apes $500m into the Twitter bid, Zucks Meta drops $9bn and yes…Matt Damon was a topping signal.Chart of the day - who let the $DOGE out?!• Ape Chasers - 🕵️‍♂️

🔥 The Big Topic - Make Crypto Cool…Again!

What happened serrrr?! Is this the great flippening?! Is it in progress or has it now officially happened?! As we see the volatility in trad fi increasing and well….we know what’s happening in crypto right now. One long drawn-out period of crabbing with the daily liquidity runs that are still slicing and dicing leverage traders.

Is it now safe to say that crypto just isn’t the cool shiny hip object in the room anymore?

Well, maybe BUT with a few sparks of genius taking place, we might see the internet’s most powerful community make crypto cool again. We saw Reddit and its communities shoot to mass media fame during the last bull run as the subreddit Wall Street Bets went on a mission targeting the hedge funds to moonshoot GME and AMC.

And what the gigabrains at Reddit seem to be doing right now in the world of crypto with their collectible avatar release is genius, let me explain and highlight this Tweet by Nick Drakon.

Firstly let’s look at some of Reddit’s achievements this year:

• Onboarded over 3 million users through their Reddit Vault Wallet• Successfully partnered with Polygon to launch their NFT’s• Aggressive hiring for their crypto division• The Co-Founder launched a $177m+ Crypto Fund• Partnered with FTX to enable Ethereum fas fees for community points• NFT collections reaching the top 10 spots on OpenSea.io• Launched Reddit Community Points on Arbitrum Nova

Ok so that’s all big news but how does this make crypto cool again?

Right now, words like crypto and NFT have major negative connotations with normies as crypto is a scam and NFT’s are just worthless jpegs shilled by celebrities that are designed to “flex yo internet status.”

But if we want normies and mass adoption to happen for the long term, the industry needs to sound as cool as it does user-friendly as it does acceptable. That’s where the terms “Collectible Avatars” and “Web3” come into play as it feels we are making a full circle journey back to the start. I mean, online communities never needed their profile picture avatars to be called an NFT, so why change that now?

I believe in today’s modern-day most of us can relate to avatars on forums, games, social media profiles, and that film James Cameron made. Making avatars part of a collection that is limited, exclusive and made by the community adds that final touch of “I feel special” to it.

It really is genius what Reddit is doing. They’ve created a product that definitely doesn’t look or feel like crypto by making it normie friendly to engage a community of over 400m people. They’ve made it fun, they’ve made it simple and they made it not feel like a ponzi. Because after all, an NFT profile picture is simply that, a jpeg avatar. If you don’t fancy buying one part of a collection you can create your own and still feel special…..genius.

Our Take

The way I see it is that projects moving forward need to take this concept and make sure what they are creating has the ability to go beyond the 12 people that are left in the space, to be enjoyed and understood by the wider market.

I wouldn’t be surprised at all if Polygon starts to build up steam throughout this bear market and then full send into the bull market. Let’s be honest, who ever thought the failing retail games company GME would fly to $350?!

PS. check out the OpenSea collections here for some mindless scrolling or the floor prices here

🗞 The Bitesized News Bits

The Bullish

CZ apes $500m into Twitter, and joins forces with Tesla CEO and official Chief Twit Elon Musk in his Twitter takeover bid.

NFT Twitter tweet tiles, will allow users to include a link to an external site for their NFTs. The tweet tiles are going to be trialed with Rarible, Magic Eden, Dapper Labs, and Jump.trade.

Visa files trademark applications, for crypto wallets and the metaverse. The payments giant is looking to take advantage of the metaverse and provide clients with “virtual environments to facilitate interaction for recreational, leisure, and entertainment.:

The Bearish

Don’t ape the top, as Zucks did with his idea of the metaverse as Meta loses over $9bn as stocks sell-off. But don’t worry, Zucks has assured invests his strategy is sound.

BNB chain in the top spot, as the chain to have the most scams and rug pulls with over $900m of scam-related crypto hitting CEX’s….oooft!

USD-SAM? This could float as both bullish or bearish depending on how you look at it but FTX is considering launching its own stablecoin. Can Sam be the legislative bridge that’s needed?

Bonus: Matt Damon was the topping signal as Bitcoin has plummetted over 60% 1 year later since Matt Damon’s super bowl crypto ad first appeared on TV…..thanks Matt! See win of the week for the latest update from Matt.

🛡 Chart of the day: $DOGE

Our Take

You can’t fade the power of Elon, memes and his favourite Doge. With Elon’s deal with Twitter coming to a close it looks like someone has let the Doge out. At the time of writing Doge is making another impulsive move to the upside and a break of the blue and white resistance lines could see Doge having a very Merry Christmas.

Bull case, a full recovery of the red vector candle pushing towards the $0.1109 region.

Bear case, we lose steam with this move and the market makers trap late longs and head back down to below the $0.0664 support and crab back into the lower range.

🤝 Here’s the Deel

and a quick word from our super awesome sponsors who help us make this all possible

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🦧 Updates from the bloc

The latest thread

One of the best threads I read this week as the charts have been a roller coaster ride of emotions and it’s easy to get caught up in all of the moonshoots you missoooor’d.

Trading is a game of psychology, master the mind, master the craft.

The latest podcast

Jack, finally stopped avoiding Grant and sits down for this epic interview. Jack was one of the first people to notice something fishy was happening with Luna and he vocalised it. We dig a little deeper into it along with what is next for Jacks's business the Crypto Pragmatist.

🕵️‍♂️ Ape Chasers

So airdrops are the meta right now and despite the larp on Twitter these shouldn’t be faded.

Word on the street is that smart money wallets have been interacting with OP which might be reflected in the recent price spike hike.

Keep an eye on the arbitrum ecosystem as a little birdy says the airdrop is coming end of November. It may bring additional volume into the market with plays such as MAGIC, MGN and ADOGE.

BONUS: here’s a free mint to look at from Pirate Nation. Why might this be a thing? because the CEO and Chief Pirate previously worked on Zynga's favourite, Farmville.

🎉 Friday Win of the Week

Oh Matt, please let this mark the bottom! As you can’t spell crypto without CRY…lol

🦍 The Ape Enclosure

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