Crypto portfolio update

Exposure: 73.0%

Net return: 560.2%

Comments: A major milestone has been reached in the fight between the SEC and Ripple labs:

This is a huge win for the industry because it suggests that almost every cryptocurrency might be treated similarly. It marks the start of a legal framework for institutions to buy and sell tokens without running foul of the SEC.

This isn't set in stone however, as the SEC can appeal the judge's decision and their legal fight against Ripple won't conclude any time soon.

Nonetheless, this is as much of a green light that institutions can get at this point. It's not hard to imagine them now scrambling to prepare to hold crypto on their balance sheets.

In other words, the road is clearing for institutions to legally buy crypto. "Institutions are coming" is no longer just a meme.

In the absence of major bad news (such as Binance collapsing *touch wood*), it's probably safe to assume that the bear market low is in.

Current allocation:

 SpartaDEX gainz

When I wrote about SpartaDEX ten weeks ago, the NFT floor price was 0.1 ETH.

Today, it's gone up 50% - 90% depending on whether it's revealed.

In an environment where most NFT floors have collapsed, such performance is impressive.

But given that the SPARTA token airdrop is imminent, I don't think the floor price will stay at these elevated levels for long. I've thus cashed out my initial investment and will free-roll the rest.

Announced in the private group some days ago:

The GameFi narrative is not likely to kick in yet (at this stage of the market cycle), so I'm content with keeping a free-rolling allocation in SpartaDEX for now.

Admin update

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😌 LoFi work/study tunes

Here's a chill LoFi mix I listen to when reading/doing research/working.

It's produced by LoFi Originals (an NFT project) and they have a few mixes on their YouTube channel.

 Quote of the week

Better decisions come from a calm mind. When you're worried and stressed, you only intensify the problem.

- Anon

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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