How to make it in crypto

Week in Review:

As the summer months continue to drag on, crypto prices - particularly majors, have not done much. For months, BTC and ETH have been hovering around the $28.5K and $1850 mark. But while price action has been slow on majors, a couple of things caught my eye:

PayPal announced their plan for a stablecoin on ETH called PayPal USD (PYUSD). Will this be a backdoor CBDC or a gateway to onboard the masses? Only time will tell.

Rollbit announced their updated tokenomics. They are using a Buy & Burn model. Revenue from the sources below will be used to buy & burn $RLB:

• Casino (10%)

• Sportsbook (20%)

• 1000x Futures (30%)

The market reacted well to this news. $RLB pumped 60% before consolidating. $WINR & $COCO, other gambling projects also pumped 45% & 23% respectively.

So, while the bear market drags on, there are some signs of life if you look closely enough.

 How to make it this bull market

Everyone thinks they can luck their way into being a multi-millionaire during a bull market. I disagree. We see time after time people squandering away their hard earned gains. Preparing for a bull market is like navigating a battlefield. It’s about strategy, not luck. With that, here are five skills that must be learned before the bull market begins.

1. Focus on yourself

“Comparison is the thief of joy.”

Regardless of how much you make, someone will make more. Likely a LOT more. What was life-changing money now seems like peanuts compared to that anon Twitter account you follow religiously. This causes you to make poor decisions. You now need another 10x just to get to his level. Your attitude towards risks changes. It's not about keeping what you have but beating him in a NW contest. This is a surefire way to lose everything.

2. Have a plan

“By failing to prepare, you are preparing to fail.”

Anyone can press the buy button, but few can press the sell button. Just read coinfessions to see all the bags fumbled. Make a plan now when you have bear market clarity. Map out your financial goals and what price levels you will at least take some profit. Doing this in a bull market is impossible. Your emotions will be tainted with greed & euphoria.

3. Embrace what is new

"The only thing that is constant is change.”

Every cycle an innovation comes along that OGs can't be bothered learning.

• Bitcoiners didn't wait to learn ETH

• ETH maxis didn't want to learn DeFi

• DeFi OGs didn't want to learn NFTs

The new innovation takes off & they have to play catch-up to learn. Always have that balance between childlike enthusiasm w/o fully drinking the Kool-Aid. This is easier for newbs. They don’t have the years of battle scars of grand proclamations that turned into cash grabs.

4. Self-Reliance

“Self-reliance is the only road to true freedom”

Insane price predictions. Being used as exit liquidity. It's all part of the game. The way to escape that is to learn how crypto works for yourself.

5. Take profits

“No one ever went broke taking a profit”

When you start bragging about your NW, its about to dump 30% at least. Don't let your ego get in the way. Your Etherscan NW feels like a video game. It feels real once it's in your bank account.

Conclusion

A bull market is not to be wasted. If can be life-changing, but only if you develop the proper skills. These can't be taught in school but only through experience and dedicated learning. Start now, and the next two years will be incredible.

• Base: Officially launches with 100+ dapps available. Looks like the early rugs did not hamper projects from porting over

• Etherscan: Announces a blockchain chat mobile app. Chat with any wallet via wallet to wallet messaging.

• Aptos: signs a partnership with Microsoft to make Web3 more accessible

• Frax: contemplating adding a RWA partner. This move allow Frax to take advantage of safe yield opportunities such as Treasuries.

• Yoots: popular NFT collection Y00ts will be migrating to Ethereum from Polygon. Earlier this year they migrated from Solana to Polygon.

🫡 Chart of the Week

Yield Guild Games, a DAO that focuses on earning yield through NFTs pumped ~4x off the bottom only to be mercilessly dumped by insiders. Retail once again exit liquidity.

See you next week,

Mid-Curve Team

The Mid-Curve newsletter is intended purely for educational and informational purposes and should not be construed as financial advice. We encourage all our readers to conduct their own research or seek advice from a certified financial advisor before making any investment decisions. Please note that members of the Mid-Curve team may hold positions in some of the investments discussed in our newsletter.