The Future of Finance w/ Oak Network $OAK & Rebirth of Dfinity $ICP: + will $BTC Continue to Rise?
OAK will bring Robust Payments & Finance Infrastructure to Web3.
The crypto market has been on a bullish run since the start of January, with traders making impressive gains to start the year. However, over the past weekend, we have seen a slight pullback as some traders take profits and the market consolidates. Despite this, the market remains healthy and resilient, with key supports holding firm. The overall sentiment remains positive, and many believe that the upward trend will continue in the coming days and weeks. so pack your bags, we are going to the moon!
I've been doing a lot of research into Web3 and one of the key things I've discovered is that for Web3 to really take off, it needs a robust and user-friendly payments and finance infrastructure. Honestly, I don’t think Metamask and ETH is going to cut it.
My research has led me to Oak Network, a platform that is truly leading the way in this area. With its cutting-edge technology for payment automation combined with its approachable and intuitive design, Oak Network is making it easier than ever to get involved and automate in the world of Web3.
Imagine using automation to set limit orders or stop losses on a DEX. Or you could set up crypto automatic payments for your Spotify subscription, or to pay your electricity bill. This type of automation will be needed for Web3 adoption.
Oak Network, built on the Substrate network and utilizes Polkadot network. The OAK mainnet launch is in the very near future, making now the perfect time to follow along with their updates. Get informed by checking out my interview with the Oak Network team and discover how they're bringing Web3 to the masses before their launch.
Despite current market conditions, the Polkadot ecosystem continues to drive innovation in the Web3 space. Upcoming projects like Oak Network, Mangata Finance and Shiden network, all built on Substrate / Polkadot, demonstrate the potential for growth and advancement in DeFi and general Web3. will keep an eye on the Polkadot ecosystem for the latest developments and opportunities, but keep an eye on Oak Network and check out their platform to prepare for their launch.
Besides hunting for gems on Polkadot, my recent research has led me back to the Internet Computer (ICP), a decentralized layer 1 network powered by DFINITY, that promises to revolutionize the way apps and dapps are created, hosted, and executed on the internet.
The potential use cases of the Internet Computer are endless, from decentralized finance and gaming, social media networks and e-commerce, to data analytics and artificial intelligence. dApps can be used by millions of users around the world without the need for centralized intermediaries using different infrastructure than we see on Ethereum. I've already started using some of the dApps on Dfinity myself and the experience is much different than anything i've seen in Web3.
In my recent interview with the Chief Scientist of Dfinity, Dominic Williams, I had the chance to explore the vision, technology, and challenges of the Internet Computer. Dominic shared his insights into the current state of the network, the growth trajectory, and the opportunities and risks as Web3 matures.
Watch my interview with Dominic Williams, and learn more about the Internet Computer before it explodes once again to stay ahead.
When ICP was released in the hype of 2021, it was way overvalued. Hence it has dropped significantly. However, on the long term 3 Day chart EngineeringRobo has printed a buy signal, and the major resistance long term is over a 10x gain away. This project has huge potential in the bull market to recover back to these prices:
These are just two of the many projects which have huge potential. In my next newsletter, I will dive into two more I think are going to make a significant impact in Blockchain and the world.
Other Crypto News:
South Korea to deploy cryptocurrency tracking system to counter money laundering in 2023.
North Korean hackers launder $27M ETH from Harmony bridge attack.
Justin Sun wants Tron’s TRX to be adopted as legal tender in 5 countries this year.
Binance faces more insider trading allegations, yet with this FUD they remain perfectly solvent.
New York regulator investigating crypto exchange Gemini over FDIC claims.
Mastercard, Binance launching prepaid card in Brazil.
Elon Musk says Twitter payment is going to use Fiat. But crypto can be implemented later.
Montenegro's central bank partners with Ripple to create a CBDC.
Court rules that the identities of 2 people who secured Sam Bankman-Fried's $250 million bail can be made public. Yet, they didn’t say who yet…
DOJ claims Sam Bankman-Fried tried to influence witness testimony, asks for communications ban.
New study reveals 82% of millionaires seek advice on crypto.
OpenAi has released tool to the public to help tell when text is written by AI.
Technical Analysis:
Bitcoin is up 40% since January 1st, so a healthy pull-back would not be unexpected, down to 21k or 20k USD. The fear and greed index has Bitcoin greed at 61, which is the highest it has been since Q4 2021 in the bull run. However, I don’t think it just goes to 61 and then heads back down, chances are it will get even higher into the 80’s before retracing. I think Bitcoin moves to 24-25k in the near term, dip or not, and then we re-evaluate it’s next move after that.
There are many opportunities for altcoins right now. However, if there is a small (or large) dip for Bitcoin, it will not be good for alts in the immediate future. It’s better to wait until the dip has happened, or for a continuation of BTC above $23,700 to ensure the momentum will continue upwards, otherwise you can get caught on the wrong side of the market move.
There are too many opportunities to chart them, so I’ll leave you with a list of projects you could take a look into from my list and my Technical Analysis friends’ list. Use EngineeringRobo or the Birbicator to add the indicators on top of the chart for help, and here’s even another twitter thread from @MacnBTC on his upcoming picks if the run continues. Plenty of opportunities!
$APT (to the downside even?, its already 5x this month)
$FTM (TradingTank call)
$INV (IncomeSharks)
$YDF (IncomeShark)
$HBAR (more in next weeks newsletter on this ecosystem)
Metaverse projects ($-SAND & $MANA)
DeFi Coins ($CRV, $YFI, $AAVE, and more)
$AVAX
$ICP (as above)
$DOT & $ KSM
$DYDX
Many many more
If you are investing in volatile/speculative lower cap coins, try and follow the principles of fundamental investing. risk management, stop losses, diversification, some funds in BTC and stablecoins, low or no leverage, not trading on emotion, etc. Always do your own research and this is Not Financial Advise!
That’s all that we have for this letter. Stay tuned for more great Unicorns/Soonicorns and interviews with Layer 1 networks poised for epic growth!
Ashton Addison
-CEO, Crypto Coin Show