Congratulations to the LA Rams for their Super Bowl victory, quite an impressive quarter to come back and win the game!
Another winner was crypto, with four crypto-based Super Bowl commercials targeted at some 96.4 million viewers, showcasing top-name celebrities such as Lebron James and Larry David. So which ad was your favorite? FTX, CoinBase, FTX, or Crypto.com?
It was a nice escape from our troubles, and even though there are challenges in the week ahead.
The Week Ahead
Russia/Ukraine Tensions
Investors will be watching closely at increasing tensions between Russia and Ukraine in the coming days as this could hold big implications for markets. I keep my fingers crossed war is avoided at all costs.
Fed Surprise Metting
Surprise interest rate hike? We’re not too sure yet but it’s looking likely with the 7.5% CPI print last Wednesday. Lyn Alden covers the situation in the following tweet.
Fed Minutes
Minutes are set to release on Wednesday at 1400 EST. The previous meetings set off a round of volatility in the markets. Investors will be watching closely for any clues of future monetary policy adjustments that are not priced in.
Crypto Market Update
Bitcoin (BTC) quietly hovered near the 42K area throughout the weekend. The markets are likely standing by for the outcome of the emergency FED meeting and the Russian debacle. Bitcoin closed the day at 41.9k.
Bitcoin Dominance (BTC.D) continues to climb while uncertainty plagues the weekend markets. BTC acts as a safe haven in crypto. BTC.D closed the day at 43.28% up +.20%.
Total Value Locked (TVL) by Chain
Interestingly, Fantom (FTM) has surpassed Solana (SOL) in TVL. ($8.21b vs $7.7b)
Notable Gainers (7d)
Smooth Love P. (SLP) $0.03 +178%
Injective Pro. $6.223 +39% (Launched Cross-Chain support for Cosmos)
Anchor Pro. $1.87 +32%
Shiba Inu (SHIB) $0.000003 +36%
Elrond (EGLD) $197 +23%
LEO $5.86 +22%
XRP $.01 +22%
Bitcoin Fear and Greed Index : 50 Neutral
Bitcoin “Google” Trends: 34 (+2)
Bitcoin Options Max Pain (Mar 26): 42K
Major Weekend News
Major crypto lender BlockFI will play a $100M settlement with the SEC and State Regulators over high yield lending products.
NFT Marketplace OpenSea is launching an investment arm after a $300M raise sees the firm reach a $13.3B valuation
Netflix is poised to begin show production about the alleged Bitfinex hackers/launderers.
Saturday, CryptoPunk #5822 sold for 8,000 ETH, worth $23.7M shattering the record of $11.8M paid for a CryptoPunk. The buyer, Deepak Thapliyal CEO of Chain, utilized leverage via DeFi protocol Compound Finance to purchase the punk.
Thanks for reading fam!
Gabi
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