Crypto portfolio update

Exposure: 100.0%

Net return: 828.5%

Comments: After a month's break, the newsletter is back. I've spent the last few weeks studying the shifting crypto meta, touching grass, and developing my next major thesis.

While this was happening, the floor fell out from under memecoins... as predicted in the private group on 3 Jun:

The memecoin narrative could take the spotlight again in the future... but for now it's dying down with most participants either round tripping their bags or heavily underwater.

As usual, it's the insiders and KOLs who end up winning while their followers get rinsed.

More recently, celebcoins - led by led by Iggy Azalea's MOTHER token which was heavily endorsed by Ansem - became the next hot thing.

No prizes for guessing how that's working out:

Over and over again, people get fooled by influencers and never learn their lesson until they're out of money.

This has happened so many times over the last two years that it's now my default expectation - people think they're getting free alpha when they're the ones getting farmed (as alpha) by insiders.

If your portfolio is even flat over the last 6 months, you've outperformed the majority of CT.

Current allocation:

🔎 New thesis

Five months ago I had a thesis on Solana memecoins that I shared with the private group.

At the time, the memecoin narrative had yet to really kick in and we got into WIF around $0.90.

But while I got the entry timing right, I got the exit timing wrong - the narrative ran for a shorter period than expected.

So while I enjoyed significant paper gains at first, I gave most of it back as prices turned in Q2. 

Thankfully, I walked away with a net gain... but that's not the best part.

The rapid exhaustion of the memecoin narrative provided the building blocks of my next thesis... which is what I think will trigger the altcoin bull run.

I'll share this thesis in due time but as usual my priority is with the private group and giving members ample time to get positioned first.

More on this soon.

Admin update

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🎮 Steam summer sale 2024

I have a love-hate relationship with the Steam summer sale. So many good games on discount, so little time to play them.

My Steam library grows each year with titles I've yet to even install... and it looks like this year will be no different.

Shut up and take my money.

 Quote of the week

Pain can be a prison or a platform. You get to choose.

- Unattributed

Thanks for reading, and have a great weekend.

Cheers,
Slowmad

P.S. If you have any questions or feedback, let me know at: chris[at]digitalslowmad[dot]com

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