gm to everyone finding utility in tokens. May your path be full of green candles. WAGMI.
Markets
Here are today’s market moves:
Here's what you need to know:
Okay, why is ETH gas fees so low?
Ethereum gas fees fluctuate depending on the amount of congestion on the network. When more people are using the Ethereum network, it is more difficult to conduct transactions and higher gas fees are charged for the transaction to be successful.
With the Ukraine-Russia war happening right now, people are skeptical about future market activity. They are pulling out. Converting their ETH profits to fiat/other crypto and planning to buy the dip! World markets are falling and sentiments are bearish. Retail hype in NFTs is also low. Less network activity happening overall.
Here's what CryptoBrew recommends doing to get the most out of your crypto investment 👇
Use this opportunity to
1. Send funds to L2s:
L1 is the ethereum mainchain (normal ethereum for most people). L1 Ethereum has high gas prices to execute transactions on it from the high congestion. L2s are networks which work alongside/with/on top of ethereum to "solve" various issues with the ETH mainnet, notably the high gas fees (eg. Polygon, Arbitrum, optimism...). To use them, you have to move your tokens from L1->L2 which costs fees. You can use this opportunity (the dip and low gas fees) to execute transactions with discounted fees to move funds over and use them if you're not already on them.
2. Withdraw low dollar LP positions:
LP positions are Liquidity Providing positions. You provide liquidity in exchange for a percentage of the transaction fees executed between whatever pairs you choose. It might be a good idea to withdraw out of positions that you don't wish to be in right now (since activity has died down a bit/less fess paid out your way) since, again, gas fees are low so you're not 'taxed' as much in transactions/withdraws.
3. Buy and set up ENS names. This one is fairly known but allow me to explain:
Another transaction that you can save on fees right now. ENS is the Ethereum Name Service which basically maps a custom name ending with '.eth' to your wallet address so you can use this instead of a long address string when referring to yourself on the ETH network (though it needs to be supported by whatever you're using). Useful for a lot of things like establishing your name/convenience. Makes crypto wallet transfers easy.
4. Swap your lesser interesting tokens to ETH and stake them on Rocketpool to get rETH:
A lot of projects will undoubtedly shed a lot of weight when hype/network activity dies down (especially if that's their main selling point) so it's worth it to move into 'safer' tokens like ETH and then "stake" them (lock them in place to receive back in rewards) through projects like Rocketpool — one of the favourites — who gives back the users rETH when they stake so they can do things with it while staking their original ETH.
In 2012, women used to get naked on Reddit for Bitcoins
Isn’t it interesting how adult entertainment is often at the cutting edge of new technology, and then other industries are fast to follow?
I keep saying this all the time! Hindsight is 20/20.
Back in 2012, when bitcoin was worth just a few dollars, these women were the ones getting naked for magic internet money. They were on the bleeding edge of something big 🔥
And the comment section of this article aged like milk 😂
If you’re interested in reading the full article, here’s the link.
Check this out
I’m a fan of underrated projects that are building utility quietly. One such non-showy project is Dizzy Dragons.
I love the art! The artists and the community behind it are super friendly and welcoming. Their roadmap, lore and vision are quite on point.
This isn't a sponsored post; I just wanted to share it with you.
Disclaimer: I hold a Dizzy Dragon NFT.
Did you hear?
Russian visual artist and New York City resident, Olive Allen, has taken a unique stand against the violence in Ukraine by burning the passport of her mother country outside the Russian embassy.
Blackrock, Fidelity and Charles Schwab have over $20 Trillion in assets under management. All three of the financial giants have brought forth a plan to create a crypto-based ETF.
Crypto lingo of the day
Buy the dip:
Not the dip your wife tells you to buy on your way to the shop.
When crypto dips, it's a good time to buy. Hence, buy the dip and have some tasty nachos ready in case of drama.
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