OT Crypto Currencies

Thinking about adding storm myself? Just no real action on it?

 

Yeah, there are so many coins now, I don't know what to think about it. Just keeping some just in case it ever catches on.

 

Losing on my end…

 

Exactly. Too many coins. But Doge might take off? Stormx hasn't done anything worth while. My feeling is to simply continue to build Ethereum. That one seems to be the one true solid. Bitcoin is too expensive and it goes through huge valuation changes.

 

I bought bitcoin at $15, so far so good

 

Still hoping Doge takes off...

 

Yeah I'm thinking about doubling my Doge holdings. Not earth shattering but if that one takes off i could be sitting pretty good there.

 

The Mainnet is finally live. New whitepaper released about how mining and supply will work.

 

Got this from Voyager:

INSIGHTS FROM FUNDSTRAT

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STMX KEY METRICS AS OF 1.19.22

RECENT TOKEN PRICE

$0.0172

VOL. (24H)

$4.8 M

MARKET CAP

$171.8 M

CIRCULATING & MAX. SUPPLY

$10.0 B

FULLY DILUTED MARKET CAP

$171.8 M

RANGE (52W)

$0.0024 - $0.099

COMPARABLE ASSETS

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AT A GLANCE

StormX (STMX) is a decentralized, Ethereum-based online shopping platform where users are given cashback in the form of crypto assets on their purchases at participating partners. Some of these partners include eBay, Microsoft, and Nike, among many others.

INTEGRATING ECOMMERCE AND CRYPTO

StormX was the first platform to offer crypto assets as cashback rewards for purchases made using fiat currencies at rates that can far exceed traditional cashback programs. The rewards come in the form of STMX, the protocol’s utility token, which can be exchanged for fiat currencies or popular layer 1 crypto assets like Bitcoin and Ethereum, allowing users to passively enter the crypto market. STMX holders can also stake tokens to provide liquidity on the platform and receive interest in return.

TECHNICAL ANALYSIS AS OF 1.13.22

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STORMX- Technically, $STMXUSD is looking increasingly like a better risk/reward after its consolidation over the last six months, yet still insufficient evidence that a low is in place. Looking back over the last year, STMX’s April peak and July bottom lined up with quite a few other tokens, and subsequent rally into early September managed to retrace an almost exact 50% of this prior high to low range. Since that time, STMX has churned in recent months in a triangle pattern for three months ahead of a mid-December breakdown, which occurred on above-average volume. This turned the near-term trend bearish last month and since that time, it’s stair-stepped lower in a trend of lower highs and lower lows. The price dips from a risk/reward basis lies near last Summer’s lows near 0.01 which happened back on 6/22/21. However, if STMX were to turn higher and regain 12/31/21 lows at .02058, this would be an early positive sign to suggest the start of a move back higher. Further confirmation would happen above .02548, which would allow for a rally back up to test .03. At present, insufficient evidence is present technically to call for an immediate rally. Overall, rallies will be a work in progress, as trends have been negative for the last month after this December 2021 breakdown, and commonly utilized indicators like RSI (Relative Strength index) are not yet oversold, like what happened near the lows last Summer. Thus, one should look at pricing dips, if given the chance in the months ahead. Meanwhile, it’s important to pay attention if this starts to strengthen in a meaningful manner (>.02548) that would allow for a more substantial rally.

GROWTH DRIVERS

StormX is currently working on adding checking accounts and debit cards for the platform to become a one-stop shop for user-friendly ecommerce. Also on the roadmap is decentralizing its governance by putting all major protocol updates up for a vote, creating a community-led evolution of the protocol.

 

CRASH! picked up some Doge, Shib and STMX

 

Unpacking the market drop
You’ve probably noticed – the markets have been pretty chaotic. A lot of stocks have plunged from their records this year, and the tech-heavy Nasdaq index has officially reached “correction” territory. We’re answering your q’s:
Quick refresher, what’s a correction?
A “correction” happens when an asset, an index, or an entire market falls 10% or more from its most recent high. And they typically last from days to months.
In this case, the Nasdaq — which mostly measures US tech stocks — has fallen 15% from its late November record through yesterday.
While they can be painful short-term, they’re normal for markets and can help reset pricier assets. Zooming out: The Nasdaq has had 66 corrections since 1971.
Why are we in one?
Lots of factors play into corrections, but this one is mostly related to inflation and interest rates. Let’s unpack that…

• Inflation... is at a 40-year high. To tame soaring prices (think: oil at the pump, bacon at checkout), the Fed is expected to hike interest rates multiple times this year. ETA: as soon as March.

• Rising rates… can be bad for growth stocks like tech. Higher rates can make US government bonds and savings accounts more attractive vs. riskier assets like tech — whose share prices are often driven by expected future growth. As rates and inflation rise, the value of a company’s potential growth falls.

• Also… some companies that thrived during the pandemic have seen earnings slow this year, like tech stocks and banks – playing into the correction.

TLDR: Tech shares soared during the pandemic while the Fed slashed interest rates to zero to fuel the economy. Now that inflation keeps rising, the Fed is ending the stimulus party — and frothy valuations are being “corrected.”
What could be the takeaway for investors like me?
It depends on your strategy and other factors like your age, finances, and risk tolerance. For some long-term investors, corrections can be a temporary dip toward reaching investing goals. Portfolios that are diversified across different types of industries and investments can be less affected by corrections when certain assets decline.
Of course, even if the marketrecovers, there’s never a guarantee that individual stocks or portfolios will follow the same trajectory. Though some recoveries took longer than others, historically the US market has bounced back from corrections over time.
For more on what’s happening in the markets, check out our daily Snacks newsletter.
- The Robinhood Team

 

Back in the green!