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The Wolf Den #604 - Make Your Life Easier

October 21 · Issue #604 · View online
The Wolf Den Crypto Newsletter
Welcome to The Wolf Den! This is where I share my ideas about the market, technical analysis, education and advice regarding trader psychology and emotional control. The newsletter is released every weekday and is completely FREE.
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In This Issue:
  1. Make Your Life Easier
  2. Legacy Markets
  3. Tether Available In 24,000 Brazilian ATMs
  4. Craig Wright Takes An L
  5. Binance Isn’t Gaming The System
  6. Bitget Partners With Leo Messi
  7. The Future Of Institutional Money In Crypto
  8. My Recommended Platforms And Tools
Make Your Life Easier
There are a vast assortment of free tools at our disposal that almost nobody seems to know about.
Here are some lesser-known platforms that can help you better understand and navigate the market.
Work smarter, not harder.
Now is the best time to explore, because looking at charts and attempting to trade is a waste of time. Increase your knowledge in the bear market, so you will be a master of using the proper tools when the next bull market comes.
And it will.
Want to do degen-out in DeFi or send some Ethereum to your annoying cousin in Kansas? You should check the fees first. During the bull market, random projects popped up out of nowhere, congesting the chain, and causing some serious spikes in gas costs. Fees are low for now, but it’s good to get in the routine of checking gas prices before you transact. There are plenty of free gas insight tools out there. Ethereum Gas Station is just one.
Not enough people are using TradingView and the long list of (free) cool features it offers. Want to see how an obscure foreign currency is trading against another obscure foreign currency? TradingView can show you. Want to back test the newest indicator on that chart? TradingView can also help. And when you’re all done, you can share your work with other traders that share the same strange interest in obscure foreign currencies. TradingView is more than charts. It offers all sorts of niche communities for traders and investors to share ideas.
Santiment as like TradingView’s little cousin, but geared towards fundamental analysis rather than technical analysis. Their slogan is “see what other traders are missing.” It also offers community and a host of free tools and features for deep fundamental dives into the market. You can browse unique watchlists, set market alerts, and see their twist on listing the market’s assets by marketcap. Give Santiment a try.
I talked about this new tool a couple of newsletters ago in the education section, but feel it deserves an intro spot. Trustcheck is a Chrome plug-in designed specifically to protect everyday crypto users, as well as those who are deep in Web3 and DeFi. The tool detects scam sites, phishing sites, dangerous signing requests, and drainer transactions, preventing us from doing dumb stuff. Once installed, it runs silently in the background, only alerting users when it detects dangerous activity. As always, DYOR before downloading anything, but if you want extra protection, looking into Trustcheck is worth a shot.
Sat Stackers
This isn’t a specific platform, but rather a strategy that can be executed almost anywhere. If you aren’t dollar cost averaging on your own, find a service to do it for you from the hundreds that already exist. Now that exchanges and basic payment platforms like Venmo or PayPal offer these services, there’s no reason not to start. This is not a strategy that pays off in the short term, but in 10 years it can mean the difference between being able to afford a new house or car or remaining in your parents basement driving your mom’s minivan. Don’t get fancy with these services. Stick to investments that you would be willing to hold for a long time.
I see no reason to share any crypto charts today, as the market continues to trade sideways. There will be greener pastures ahead.
Legacy Markets
Stock Market Today: Dow, S&P Live Updates for Oct. 21 - Bloomberg
Stocks dropped as Treasury yields continued to climb, with traders betting the Federal Reserve will keep raising interest rates until inflation is defeated, and as investors assessed companies’ resilience to a multitude of headwinds in the latest earnings reports. 
Some of the main moves in markets:
  • Futures on the S&P 500 fell 0.6% as of 6:15 a.m. New York time
  • Futures on the Nasdaq 100 fell 0.9%
  • Futures on the Dow Jones Industrial Average fell 0.4%
  • The Stoxx Europe 600 fell 1.5%
  • The MSCI World index fell 0.6%
  • The Bloomberg Dollar Spot Index rose 0.5%
  • The euro fell 0.5% to $0.9736
  • The British pound fell 1.1% to $1.1116
  • The Japanese yen fell 0.6% to 150.99 per dollar
  • Bitcoin fell 0.2% to $18,986.96
  • Ether fell 0.2% to $1,279.2
  • The yield on 10-year Treasuries advanced five basis points to 4.28%
  • Germany’s 10-year yield advanced nine basis points to 2.49%
  • Britain’s 10-year yield advanced nine basis points to 4.01%
  • West Texas Intermediate crude fell 0.3% to $84.24 a barrel
  • Gold futures fell 0.4% to $1,630.60 an ounce
Tether Available In 24,000 Brazilian ATMs
Tether USD₮ will be available in over 24 000 ATMs across🇧🇷 Brazil on Nov 3
I often make the case that the “killer app” for crypto is stablecoins. While Bitcoiners love to point out the fact that people in countries with hyperinflation should be buying BTC, the reality is that most of those citizens simply want access to the dollar. They generally cannot get dollars without paying a premium on the black market.
Stablecoins solve this.
Tether announced a partnership with SmartPay to give access to USDT from 24,000 ATMs across Brazil. Did you know that there are over 30 million unbanked adults in Brazil? They all desire access to US dollars and affordable money transfer capabilities.
Tether tokens are currently one of the most used cryptocurrencies in the region. Recent data shows that USD₮ is one of the tokens most used in the country when it comes to value moved. More than $1.4 billion was moved using USD₮ across 79,836 operations in August, with an average amount of almost $18,000 per transaction.
With access to SmartPay, users can select the best cryptocurrency for their desired use case, including tether tokens like USD₮. They will also be able to send and receive tether tokens anywhere in the world, whenever they want and withdraw Reais in Brazil.
While we would all rather the world adopt Bitcoin, it is still encouraging to see real adoption in places that crypto is needed most.
Craig Wright Takes An L
Hodlonaut Wins Defamation Case Against Craig Wright - Bitcoin Magazine - Bitcoin News, Articles and Expert Insights
Only in crypto does the community closely track a court case between a pseudonymous Bitcoiner and a nut job claiming to be Satoshi.
A Norwegian court found that Hodlonaut was not guilty of defaming Wright. From the transcript - “against this background, the court believes that (Hodlonaut) had sufficient factual grounds to claim that Craig Wright is not Satoshi Nakamoto in March 2019. Wright has come out with a controversial claim, and must withstand criticism from dissenters.” Although the case did not offer a definitive answer to the question of the legitimacy of Wright’s claims, Wright is still taking an “L” - which is a “W” for us.
Binance Isn't Gaming The System
Binance Does Not Use Uniswap (UNI) Tokens to Vote, Clarifies CZ
Binance was recently accused of hoarding UNI tokens with the intention of dominating the voting on important protocol functions.
It was a misunderstanding.
When Binance conducted typical internal transfers between wallets of UNI tokens, their actions triggered the tokens to be delegated, prompting questions about the intentions behind the move. CZ went on the record to clear up the fact that it was Uniswap’s unique design, causing the misunderstanding. He clarified that he exchange never votes with held tokens. I know the saying is “never trust, always verify,” but this should have been obvious from the beginning.
Bitget Partners With Leo Messi
Lionel Messi Partners With Bitget
Woke up to this amazing news from Bitget. Every time they add a huge sponsorship, it makes me feel even better about having them atop the newsletter. From the press release:
“Ready to hear some crazy news before the World Cup starts?
We’ve entered an exclusive partnership with the Magician, the Genius, La Pulga, the Messi-ah, and all-time footballing GOAT — Leo Messi — winner of a record-breaking seven Ballon d'Or awards!
Since beginning his career with Spanish giants Barcelona, Messi has won countless honours, with 10 La Liga titles, four Champion League titles, and a Copa America Trophy being among them. He now plys his trade with French Ligue 1 champions Paris Saint Germain. 
In this historic engagement, Bitget will team up with Messi to explore the areas of Web3, cryptocurrency and football. We’ll be revealing more developments as they come while Messi prepares for the World Cup 2022 in Qatar with the Argentinian national team.”
The Perfect 10/10 Crypto Partner: Leo Messi #BitgetxMessi
The Future Of Institutional Money In Crypto
Podcast - The Wolf of All Streets
The Future Of Institutional Money In Crypto
What does institutional crypto adoption really mean? When will institutional money finally come to the crypto space? What are the obstacles (regulation!) and what are the drivers of this adoption? Join my discussion with some of the most brilliant minds in the space: Matt Hougan, Chief Investment Officer at Bitwise, Oliver Linch, CEO of Bittrex, and Bill Barhydt, Founder and CEO of Abra.
In this episode, we discussed:
  • Institutional adoption
  • What does institutional adoption really mean?
  • Due diligence on DeFi
  • Phenomenal returns
  • How to do due diligence
  • Crypto makes more money per user than TradFi
  • What people should know and should know about crypto
  • Banking license for Abra
  • Key management problem
  • Bitcoin vs gold
  • Institutional money allocation
  • Bitcoin ETF
  • ETF will add credibility to Bitcoin
  • Regulation is key to crypto adoption
Thanks to BITGET for sponsoring.
My Recommended Platforms And Tools
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Subscribe to my YouTube channel for free daily content.
Follow me on Twitter at @scottmelker. This is where I am constantly updating my trades and sharing ideas.
On-chain and fundamental analysis, research, predictions and indicators, all in one place. Highly recommend.
The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to “Buy,” “Sell,” or “Hold” an investment.
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