Time flies when you’re having fun, especially with friends! Last week, our community got together for many exciting activities. We had our weekly highlight of Baerinz’s and Jane’s streams for our Ghosts to get their hands on some sweet whitelists. Mental Health Mondays and Market Matters continued dishing out excellent life advice for emotional and financial abundance.
We were also blessed with some great singing with an impromptu karaoke night with Luna, Phantom 11, our very own crooner. The community also participated in a mini 5-man tournament hosted by Internet Game against over 40 other communities!
We’re also currently running a diamond jewelry design contest in partnership with Diamonsion where our community stands a chance to win a piece of customized jewelry and the project’s whitelist!
We hope to bring even more thrilling events and activities to unite the community!
It was extremely humid. With each trudging step forward, I pushed on in the sweltering heat, looking for any sign of civilization. The sun was my only companion in this treacherous journey of mine. I was still trying to comprehend what had just happened. One minute I was in a comfortable room; the next, I was in the jungle. What if this was another test? Being air dropped into the middle of nowhere. The survival of the fittest.
Minutes felt like hours, hours felt like days, and finally, it was nightfall. I had been walking around in circles without a soul in sight or anything on the horizon. The tree I marked had been continuously branded with the edge of my knife five times. I had to take a break. With a heavy heart and the sun setting, I set up camp below the marked tree.
As I lay my head against the thick trunks, thoughts came rushing into my mind, but one question stood out amongst the rest, which was also the most difficult to answer. Will I make it out alive? I was defeated before the battle even began, confidence in myself faltering and my morale close to none. As my mind started wandering and my eyelids drooped, I suddenly heard the rustling of nearby bushes. "Who's there?" I mustered up the courage to shout, only to be replied with the rustling getting louder and seeming getting nearer. Whoever it was, they were approaching me, fast.
Almost as quick as lightning, I got up on my feet and into my battle stance, brandishing my machete and preparing for a possible ambush from the bushes. Hundreds of scenarios were playing in the back of my head, would it be a bear? What if it was just a rabbit? Was an enemy of unknown origin coming after me?
Finally, the rustling stopped. A figure, clad in a black hoodie with a mask, emerged from the bushes with a katana in hand. As it slowly unsheathed the katana, the reflection of the moonlight on it's glistening blade reflected onto my face. Droplets of cold sweat rolled down the side of my forehead, and my palms were cold and clammy. My throat was parched, and fear overtook my body. All I could think of was, fight.
DaddyGainz's Market Matters
Welcome back to Market Matters with your host DaddyGainz. It felt just like yesterday when I started on Market Matters. I hope it has been helpful for you guys. Let’s jump into the question in everyone’s mind, “Why have a majority of my crypto bags decreased in price over the last week?” Let's dive into it!
In last week’s article, we looked into many events that took place and what we had to keep an eye out for, such as market data and important announcements. Last week, we had the PMI, GDP, and PCE data, which didn't have a significant impact on the markets.
We didn’t see much impact from what should be important and impactful data because the majority of investors’ focus was concentrated on two specific things: the Jackson Hole Symposium and a press briefing from the Federal Reserve Chair Jerome Powel. So why was there so much focus on these, and why would they have so much impact on the markets?
The symposium hosted market analysts, economists, policymakers, bankers, and a number of financial market participants and educators from across the world who meet on an annual basis to discuss the current state of the economy. who met to discuss the current state of the economy on an annual basis. Hosted in Jackson Hole, Wyoming, these participants from across the globe discussed their unique perspectives and experiences in the economy, including economic concerns and potential paths moving forward. During the symposium, all eyes and ears were on the press conference speech from Powel.
This continuation of aggressive policies and a more bearish economic outlook from the FED impacted the markets quite significantly, resulting in negative returns across the board. The crypto markets took the hit especially hard as we saw extensive sell pressure that brought us below some key support levels sparking some fear in investors. We should remain cautious with our investments as we reflect on the most recent market rally that brought coins like ETH up over 100% from their recent lows.
As discussed in previous articles, bear markets tend to have relief rallies or bull traps which can create FOMO in the retail investor who winds up buying in at prices higher than ideal. When prices continue to fluctuate in an overall macro downtrend, we can learn from our past investment mistakes and make better and more informed investment decisions in the future.
There are a few important events to keep an eye on while preparing for the weeks ahead. This week, there are a few CPI data sets from various countries and many FED speakers taking the stage, but the key statistics investors are predominantly looking forward to is Friday’s US employment data which includes the month-over-month average hourly earnings, unemployment rates, and most importantly, the change in non-farm employment.
The US jobs and employment data usually has some effect on the markets because the information helps determine how aggressive the FED will be on their next rate hike. Although the likelihood of another 75bps interest rate hike is already high, if employment rates are to take a hit, it would signal to the FED that the economy is heading where they want and could lead to the eventual pivot that many are waiting for. A decrease in employment is bad for the overall economy, but if it leads to the eventual slowing of rate hikes, it’s potentially great for the markets.
GAINZ’s TWO CENTS
As we’re seeing a potential end to the market rally and preparing for a possible continuation of the bear trend, we must stay diligent, attentive and careful with our investment decisions, especially with the crypto market battling its current price levels because the long-awaited crypto winter may be upon us.
Quick update, I'll be educating Ghosts on a few things about cryptocurrencies and the world of investing in the spanking, brand new Crypto General Education channel in The Grid. We will start with the basics and move into the more advanced stuff as we progress.
Join me for some financial training, and don’t be afraid to shoot me your burning questions. I look forward to your arrival. With that, I conclude this week’s Market Matters; till then, NFA, DYOR, stay safe, love y’all, and see you next week!
Welcome to the Pineapple Lounge! This week, we’ve invited Phantom 17, Sharkanator, onto the stage so you guys can get to know him better!
///Phantom Files: 17
We’ve managed to locate Sharkanator in the sewers for an exclusive interview.
1. What's the story behind the monicker Sharkanator?
Since I was a young lad, I have been fascinated by the ocean and all it’s creatures, especially sharks. Mako sharks, cookie cutter sharks, and of course, great white sharks. One day, when I downloaded the game Cut the Rope, I was suddenly asked to create a Gaming Center ID.
I was unsure what to use, so while thinking of something, I looked up at the TV. Terminator was on, and in my head, I thought Terminator would be a cool name, but it didn't feel special. While thinking of other epic names, sharks came to mind, and something just clicked. I entered "Sharkanator" into the username bar, and it's stuck with me since then.
2. What's your favorite food?
I would say burger or sushi, but to be honest there's only one food I can always eat, no matter how full I am, and that’s french fries!
3. If you weren't in web3, what would you be up to right now?
I'd probably apply to vet school or take a coding boot camp. For the longest time, I thought the only thing that interested me was being a vet, but then I realized I would receive the same amount of joy, if not more, from just owning my pet. Also, I wouldn't be over USD 200,000 in debt, so... yeah. I also tried coding once in my senior year of college and found it fun, so I might take some courses in my free time when I'm bored.
4. What do you like to do in your spare time?
As a connoisseur of the fine arts, I spend my days indulging in only the highest forms of art; for example, one of my favorite pieces is Konosuba. Some of my other activities include reading manga, web novels, books, and, last but not least, watching TikTok compilations on Youtube.
5. What’s your favorite color?
Cotton candy blue or pastel purple like a lavender vibe, depends on the day.
6. What’s your spirit animal?
Cookie cutter shark (smol and likes to bite ...wait wut?)
7. Summer or winter?
Of the two options winter, but fall is probably the best season, unless you gotta sweep all the leaves.
8. A desert you like?
Taiyaki ice cream.
9. A skill you’re working on mastering?
10. What would you like to be remembered for?
Always being there for my friends.
11. A book that everyone should read?
Can I share some manga instead? Oyasumi Punpun or Furies of Calderon.
12. Most adventurous thing you’ve done in your life?
13. Favorite app?
Discord (The Emotes are too good)
14. Secret talent?
I can touch my tongue with my nose!
15. What are three things you can’t live without?
My friends, manga, and sushi.
16. What’s your biggest fear in life?
Being hated by my friends.
17. What’s one thing people don’t know about you?
I've never gotten a brain freeze, ever!