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Daily Altcoin Price Update: 10/1/2016 - The Next Big Thing?

Daily NFT/Crypto Market Update - 10/1/2022 | A Thread 🧵🧵🧵

OVERALL TRENDS

The crypto market saw some slight dips today but for the most part we just had a lot of consolidation. BTC sits at around 19k while ETH is just below 1.3k. Still waiting for a catalyst to create

1/ a breakout. NFTs had an amazing day with a lot of projects seeing good pumps. This was led by the return of Renga, but there were many other projects that saw notable gains too.

2/ Degen/free mint of the day: POOBS NFT

@poobsnft is a 5555 supply NFT collection that led the market in sales today, reaching almost 5000 on the day so far. This volume has led to a current floor of 0.02 ETH, making decent profits for minters. These poobs have some

3/ interesting doodle art and have a main goal of prioritizing creativity within the space. The project @poobsnft does have a roadmap including a treasury and merch so we will see if the team can deliver on these things.

4/ RENGA IS BACK

@RENGA_inc is officially back on everyone's mind and quickly becoming people's trauma story. Yet again we seem to have all faded the project and missed a massive pump. The three collections, Renga, Black Box, and TAOS have all moved up considerably in

5/ price making people huge profits all around. This is one of the reasons why we have entered an art meta and to be honest, with the strong community and holder base, @RENGA_inc looks primed to be the next big thing.

6/ KITARO WORLD PUMP

@KitaroNFT saw a big pump today with it now sitting at a current floor of 0.14 ETH. With close to 4000 sales on the day, this pump began during reveal as the art really drew investors into the project.

7/ @KitaroNFT is a project with a lot of lore and the ultimate goal of bridging the gap between Web 2 and Web 3. This decently hyped project during mint, so it is good to see this project gaining traction.

8/ DERIVATIVES IN THIS BEAR MARKET

Something that I wanted to bring up to you all is how predictable the market can be sometimes. Especially since the free mint meta began, derivatives have been one of the main ways people have been able to profit.

9/ We have seen derivatives of @BoredApeYC @goblintown and pretty much every project that has mooned. This is something to note as projects like @RENGA_inc experience moons again as it is likely the hype will trickle down to the derivatives.

10/ OVERALL THOUGHTS

With there being a lot of profit potential in the market, I want to stress that we are still in a bear market globally. There are projects like @RENGA_inc that will see huge pumps and survive this bear, but a majority of them will likely drop off thanks to

11/ things like no funds. Be careful with your investments and don't be afraid to secure your profits. Profit is profit and even if you miss that moonbag, there will be another. Thanks for reading and have a great day Kings. Follow if you enjoyed! 👑💵

This post is based on this twitter thread.

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