TGH Newscast #1

March 14, 2022

TGH Newcast #1

March 14th - March 20th, 2022

  • March 14th, the EU voted against the ban on POW cryptocurrencies
  • March 15th marked the Ethereum Kiln Testnet Merge, which successfully produced blocks post merge. Good indicator of a true merge before end of Q2 as stated by the Consensys team (Eth2, but the name changed). ETH merge = Triple Halvening = 90% reduction in ETH emissions, and 99.9% reduction in environmental emissions
  • Prysm has some bugs, but they were quickly fixed, and also shows why the multi-client ecosystem of eth is so important
  • 2M Eth officially burned through EIP-1559
  • Microsoft invested in Consensys with a $450m funding round, raising the total valuation to $7B (will be purchasing eth with that $450m)
  • Vitalik named the "Prince of Crypto" by the Times Magazine
  • Heavy movement of funds off exchanges (BTC and ETH), with some of the largest USDT dominance in recent history (marked similar other market bottoms), the lowest BTC quantity on exchanges since 2019, and lowest ETH quantity on exchanges since 2018 
  • Binance given the green light by Dubai, receiving a Specialist License from their Digital Assets Reg. Authority
  • Ukraine officially legalizes the crypto sector amidst over $100m in crypto donations since Russia has invaded
  • Interest rates raised by 25 Basis Points to reach 0.50% Interest, Fed predicts up to 7 more rate hikes, but Inflation is still sitting at 7.9%, a nearly 40 year high; Feds claim they want to raise interest more quickly in order to lower the balance sheet and inflation targets
  • Total Transfer Volume in Loss made another relative HH compared to prior price lows, historically indicative of market bottoms
  • APES token listed directly on Coinbase, Binance, and numerous other exchanges; included an airdrop to holders of the BAYC community (and specific derivatives holders)

The news was fairly heavy on Eth this week, but with the major Kiln Testnet Merge being a success, it's not entirely surprising. We also saw a massive amount of Eth added to the staking contract, a record 200k Eth in one day after the successful Kiln merge. 

Both BTC and ETH have weekly bullish engulfing candles, which historically have been great reversal signs after a downtrend. Led by Eth, the Merge could provide the catalyst for the Flippening. 

Now that we've gotten the main news covered, let's take a look at some of TGH's Top Picks. At TGH we realize the reality that for people just starting off, or if you just don't have a large balance, entering only high caps isn't nearly as efficient for trying to build up a portfolio. That's what we advocate to not only have high caps, but to enter lower market cap protocols that have sound fundamentals.