Lockdowns, supply chain issues, war, inflation, and now recession fears. Both crypto and equity markets are looking pretty brutal.
It's been fascinating to see what our new Insights tool has been surfacing.
It works by analyzing billions of data points, scanning for possible indications, and then relentlessly backtesting to understand which insights historically led to a price gain or change.
It's like having a dedicated team of analysts working for you 24/7.
Here's an example:
The chart above shows the expected performance of the RAMP/USDT price, based on 9 similar occurrences in the past. Stack then analyzed past returns to determine that 30 days offers the optimal trade horizon.
Insights is currently in beta. If you'd like early access, though, just hit reply to this email.
- Weekly Projects to Watch
- Top News This Week
- Stack Product Updates
Weekly Projects to Watch
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Top risers by overall rank
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- The Graph ($GRT) ⬆️ 3%
- TRON ($TRX) ⬆️ 2%
- Bitcoin Cash ($BCH) ⬆️ 1%
- Monero ($XMR) ⬆️ 1%
Top risers by Dev Rank
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- XDC Network ($XDC) ⬆️ 8%
- XRP ($XRP) ⬆️ 6%
- Monero ($XMR) ⬆️ 6%
- TRON ($TRX) ⬆️ 3%
Top small cap risers by rank
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- DFX Finance ($DFX) ⬆️ 324%
- Covenants ($UNIFI) ⬆️ 198%
- MarteXcoin ($MXT) ⬆️ 151%
- Swarm City ($SWT) ⬆️ 102%
Top News This Week
Bored Ape Yacht Club Breaks Ethereum
Yuga Labs, the company behind the Bored Ape Yacht Club (BAYC), disrupted the entire Ethereum blockchain as a flood of users rushed to purchase NFTs representing virtual plots of land in its upcoming metaverse project.
Ethereum fees skyrocketed as the network became congested. Yuga Labs issued an apology on Twitter shortly after the mint ended. “We’re sorry for turning off the lights on Ethereum for a while,” Yuga Labs said. “It seems abundantly clear that ApeCoin will need to migrate to its own chain in order to properly scale. We’d like to encourage the DAO [decentralized autonomous organization] to start thinking in this direction.”
Elon Musk bought Twitter for $44 Billion
On April 27, 2022, Twitter neared a deal to sell itself to Elon Musk. This move would unite the world's richest man with the influential social media networking service.
Twitter's board accepted the offer by Elon Musk to buy the social media company and take it private.
This occurred after he offered the company $54.20 per share, which was his "best and final" offer. Twitter's board sought to fend off the hostile takeover by adopting a poison pill.
Ultimately, the Twitter board agreed to a $44 billion takeover offer. However, despite Elon Musk advocating free speech, Stani Kulechov, the founder of Aave (AAVE), was suspended from Twitter for a joke he made. He made a joke about being the interim CEO of the social media company.
Bitcoin Adoption Increases
The Central African Republic had made Bitcoin legal tender, according to numerous reports, including ones from Changpeng Zhao, the CEO of Binance, as well as Michaël van de Poppe, CEO of the consultancy and educational platform Eight BV. This made the Central African Republic the first in the continent to push forward on this path of acceptance.
BlackRock Inc. also launched its first-ever blockchain-focused ETF as record cash-exited cryptocurrency funds. IBLC tracks companies involved with blockchain developments, and April became on track for record outflows from crypto ETFs.
Goldman Sachs Group Inc. also launched its first-ever lending facility, backed by the Bitcoin (BTC) cryptocurrency. This marked a major step for the U.S. bank, which ultimately accelerated the acceptance of cryptocurrencies on Wall Street.
Panama's National Assembly, almost unanimously, ended up approving a bill that would regulate the use and commercialization of crypto assets in a country that is already known as a hub for offshore financial services. It passed with 38 votes in favor, two abstentions, and no vote against. The bill then went to President Laurentino Cortizo for signing.
Edward Snowden Helped Launch Zcash (ZEC)
Edward Joseph Snowden, the American former computer intelligence consultant that managed to leak highly classified information from the National Security Agency (NSA) in 2013 was one of the six individuals that held a piece of the Zcash multi-signature private key that was used to launch the project on October 23, of 2016. This was first reported in a video posted by Zcash Media on April 28, 2022, where we saw an in-depth look at the entire story.
In the video, Snowden stated that: “My name is Edward Snowden. I participated in the Zcash original ceremony under the pseudonym John Dobbertin.”
Meta's Reality Labs Posted a Loss of $2.9 Billion in Q1 of 2022
Meta Platforms Inc., formerly known as Facebook Inc., posted their Q1 2022 earnings, with the Metaverse-focused Reality Labs division posting increased losses.
Specifically, the Reality Labs division, which was formerly known as Facebook's Oculus division, has been spending capital on the development of the virtual reality and metaverse-related products and posted $2.9 billion losses for Q1 of 2022, which is 61% more than their $1.8 billion loss in Q1 of 2021.
Meta CEO Mark Zuckerberg said losses in this division are expected, due to the fact that Reality labs are mainly focused on research and development for a series of hardware and software products, such as Project Cambria.
Telegram Users Are Now Able to Send Crypto Payments.
The TON Foundation has added crypto payments features to Telegram, which is similar in terms of functionality to Twitter’s Bitcoin payments feature.
However, Telegram uses the Toncoin (TON) cryptocurrency instead of Bitcoin. The TON Foundation is a decentralized, layer-1 blockchain network specifically designed by Telegram, which has added a new crypto payments feature to the messaging app, according to an official announcement posted on April 26.
This feature lets users send Toncoin, to other Telegram users, without any transaction fees.
Stack Product Updates
Our new Insights feature is coming along nicely. We've had some really positive feedback from existing beta users.
We'll be continuing to roll out access over the next week. Initially it will be free for all users, then limited to paid accounts.
If you'd like early access, just hit reply with the words "beta access".
Thanks for reading,
The Stack Team