$2.8M investment turned into $1,000!

May 13, 2022

Good afternoon apes, 

Seedphrase daily here, where we give you the rundown on what's happening in the NFT space so you can run down your street with your dog  screaming. The past few days have been rough (no pun intended) so let's catch you up.

 Today's read time is about 3 minutes and 18 seconds. 

  • 📉 KSI’s $2.8M investment turned into $1,000

  • 🤓 NFT market update! 

  • 🔰 Instagram's NFT integration is live! 

  • 🐋 Whale of the week!

  • 👨‍🏫 Seedphrase sit down 

  • 🌱 NewSeeds

Ok, c'mon, let's go 

As we all should know by now, crypto is very volatile. But like every market, things come in cycles, the good and the bad. A market correction is always healthy for the next bull run. However, we've never seen so much fear in the market during times like this. And the overall macroeconomic effect has completely taken over the markets. Making both cryptocurrencies and NFTs have less volume. News after news, such as UST plummeting, makes people question the reliability of these stable coins. The most popular stable coin USDT lost 3% today, which was never seen before and caused tremendous controversy, making people wonder if all stable coins will suffer the same fate. USDT has then been able to recover. But the crypto market isn't the only one suffering. From stocks and housing, it seems like everything is on a decline. Adding to that, the FED has spiked interest rates to an all-time high in over 40 years. It makes you question, are we already in a recession?

KSI’s $2.8M investment turned into $1,000

The famous Youtuber/Boxer KSI recently posted a tweet of his wallet, which was a sad sight to behold. 

KSI had around 157,000 coins of LUNA, which was valued at approximately $2.8M. After LUNA lost 99% of its value within the past 24 hours, he was left with a mere $1,000!

This is why it's essential to have a stop loss. 

But he wasn't the only person that lost money. Many people were affected by LUNA's collapse and lost their life savings, some even taking their own lives. Mental health is a serious thing in this community.

We briefly explained what happened in the last email. But to catch you up, the UST, the #3 largest stablecoin, is no longer stable whatsoever. 1 UST should equal 1 USD. Now the current price of UST is $0.39, with lows of $0.25. And as billions of dollars were leaving UST, it was only driving prices even lower. Full article 

Funny enough, a few days ago, the owner of LUNA, Do Kwon, said that "95% of projects are going to die". Was he projecting? 

NFT market update! 

Let us give you a little summary of what's been happening with the blue chips. 

NFT floor prices are currently suffering as volume dried up due to the fear in the current market.

This week a crypto punk was sold for under $100,000 for the  first  time in 9 months… Do you think this is a dip? 

The BAYC metaverse, Otherside, just dropped a demo featuring in-game gameplay of a Bored Ape...

After launching, the Otherside NFT saw an 80% increase in volume. 2 days after the mint, the floor price was at 10Ξ ($20,000), but due to current market conditions, it's currently sitting at 2.8Ξ ($5,800). Do you think this is an excellent time to buy? Will these projects survive this bear market?

Instagram’s NFT integration is live! 

This week, Instagram announced that they would be testing their new NFT feature with select creators, such as Gary Vee and others. The first creator has been selected, and we can now see what the future will look like. Currently, Mark Zuckerberg is working on 3D NFTs that can be displayed in digital spaces like Instagram stories and superimposed on physical space.

Whale of the week! 

With all this fear going on, a very familiar whale in the NFT community who goes by JRNY crypto with a wallet size of $2.4M, has purchased 25 Otherside NFTs. Did you think he spotted an opportunity while everyone else was in fear? 

Seedphrase sit down 

Now comes another Seedphrase sit-down, where we talk to you and give you tips to navigate this space and topics to think about… As we can see, we're in a bear market. Anyone who denies that is not living in reality. But like we said earlier, there are cycles; this won't last forever, but who knows maybe it just all goes to zero when Satoshi decides to sell all his bitcoin (sarcasm)…Anyways, what can we do in times like this? Well, other than shorting, the bear market is the best time to :

  • Build and contribute to projects you think are worthy. 

  • Build income streams 

  • Build and adjust your strategy for the next bull run 

  • Build relationships in this space right now. Everyone is going through the same thing, so it’s easy to trauma bond hahaha

Keep these 4Bs in mind, and you might have some Bs come the next bull run. It may seem like the world is ending right now, which it is… But there is always light at the end of the tunnel. Just keep looking forward and learn from your losses. L’s are just lessons.

Now for my favorite part!! NewSeeds! Enjoy: 

Azuki NFT collection has lost 60% of its value. Is this the end of a juggernaut? 🧐

Doodles Free dooplicator is now live. Free stuff!!! Congratulations if you got one  😎

That's all for today, folks. We hope you enjoyed today's newsletter. And let us know what you think the current state of stable coins are. Will USDT follow UST? Make sure to follow us on Instagram and Twitter. Please reply to this email with your thoughts. We'll be here. 

With that being said,  

See you on Monday. ✌️

Meme of the Day 

Disclaimer 

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research! 

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