Weekly Shift Round-Up: Friday 21st January

About the Weekly Shift Round-Up: Our new weekly free round-up covers the major crypto news from the week, price action and is the place to keep up to date with Collective Shift’s socials or free content. Delivered every Friday.

Welcome to the Collective Shift Weekly Crypto Round-Up for Friday, January 21.

Follow us across our channels to keep up-to-date with the latest news and announcements: Twitter, YouTube, Facebook, Website, Discord

👇 Summary

2022 continues to be a slow and red year for cryptocurrencies, with more ‘boring’ price action and a somewhat uneventful week for BTC and ETH.

Despite gloomy market conditions, there’s been a lot of news from Collective Shift, many vibrant discussions from the Collective Shift community and a raft of crypto news!

In this week’s Weekly Crypto Round-Up, we touch on:

• Big Collective Shift Shift announcements: free trial is live, comments are live inside the platform and much more!
• Venture capital firms continue to raise funds
• OpenSea acquires Dharma Labs
• BTC and ETH remain down -4.4% and -7%. UPDATE: Since publication, cryptocurrency markets have significantly dipped, with BTC and ETH down ~8%, as the total cryptocurrency market cap dips -7.5%.
• And all the best bits from our new Discord!
• Plus much more!

📣 Announcements 

In a big week for Collective Shift, we’re excited to announce several updates!

Comments in platform

We’re excited to share comments are now live on all Collective Shift content inside the Member Platform!

The first NFT workshop was a success

Head of Research Matt Willemsen and Senior Research Analyst Nathan Gurr hosted the first member-exclusive workshop on NFT investing. (All members can click through on the link to view it anytime!)

LTG Portfolio up vs BTC

Our Long-Term Growth Portfolio (LTG) is +19% against bitcoin. (PRO members can view the full update via the platform)

Free trial now live!

Our new 14-day free trial is now available to new customers. If you’ve wanted to test out the platform but didn’t want to commit to a membership now is the time! Head to our platform and try us out for free.

 📆 The Week In Crypto

Environmental Concerns of Proof-of-Work (PoW) Mining Resurface

Vice-Chair of the European Securities and Markets Authority (ESMA)—a powerful EU regulator—said PoW mining should be banned in the EU, and less energy-intensive Proof-of-Stake mining should be favoured.

Shift takeaway: It’s an important reminder of the increasing regulatory pressures set for the cryptocurrency industry and a re-surfacing of environmental concerns surrounding PoW mining.

Pantera Capital to Raise New Billion-Dollar Venture Fund

A crypto investment firm is preparing to launch a new venture fund, closing in on a reported >$1B in commits.

Shift takeaway: Big money is being raised to invest in the ecosystem in the next couple of years. Regardless of price, big investment firms like Pantera, NYDIG and a16z look prepared are ready to deploy funds.

OpenSea Makes Waves, Acquires Dharma Labs

Following hot competition from new rival LooksRare, OpenSea announced the acquisition of DeFi powerhouse Dharam Labs for an undisclosed amount, as well as a change in CTO.

Shift takeaway: This will help OpenSea scale the engineering, product and customer support teams. New CTO revived token speculation stating “users of OpenSea ought to be rewarded for the value they bring to the platform”.

OlympusDAO Slides, Experiences Significant Sell-Off

The OHM sell-off continues, -47% in the last week and -74% in the past month. In total, it’s -93% from its ATH high in April 2021.

Shift takeaway: If you’re someone who loves the OHM vision but missed out on the initial run, it could prove to be a potential entry point.

📈 Markets Recap

UPDATE: Since publication, cryptocurrency markets have significantly dipped, with BTC and ETH down ~8%, as the total crypto market cap dips -7.5%. BTC and ETH have both dipped below core $40K and $3K price levels respectively.

It’s been another relatively quiet week for BTC and ETH. In the last 7 days (at time of publication), BTC and ETH remain -4.4% and -7%, respectively.

Cryptocurrency markets remain fairly stagnant, with possible macroeconomic uncertainty playing a role—as U.S. inflation reaches 40-year highs.

BTC continues to head lower as it trades in a critical level just above $40K. Last week, BTC dipped below this $40K level for the first time since early August 2021—meaning this support level could prove to be one to watch in the week ahead.

ETH followed a similar downtrend, as it closes in on October lows. Notably, ETH briefly dipped below $3K, before buyers stepped in 10 days ago. This will be a core level to watch—as in the last 6 months ETH has spent relatively little time below this level.

🎥This Week’s Collective Shift Content

📺 YouTube 

Is LooksRare the OpenSea Killer? with Arman Assadi (Jan. 15)

Overview of the New NFT Marketplace, $LOOKS Token, & Airdrop.

Weekly Project Discovery with Nathan Gurr (Jan. 19)

Projects discussed include Iron Banks, Contrib, Squeeth Token & Mecha Penguins.

Macro & Crypto Update with Matt Willemsen (Jan. 19)

Mastercard integrates with Coinbase & more pain in traditional markets.

How I Made A 6-Figure Crypto Portfolio with Ben Simpson (Jan. 20)

🎙Podcast

On the go and prefer audio? Listen to our range of audio content via the Podcast.

🧾 This week’s free Team Insight

On-chain expert Checkmate covered the concept of pricing bands based on MVRV (Market Value to Realised Value).

TL:DR: Checkmate updated his data sets which showed MVRV had a significant change—with Checkmate calculating there could be a 70%, 80%, and 90% probability of a bounce at these levels, respectively:

• Buy Dip (70% chance of bounce) = $35.2k
• Buy (80% chance of bounce) = $31.6k
• Strong buy (90% chance of bounce) = $24.3k

Read the full Team Insight in your inbox or at this link on our Website

📝Best From The Collective Shift Community

Facebook community (CSCC)

A community member provided their take on the latest Bitcoin Future chart, the price levels they’re watching and how the S&P could impact the price of BTC.

There was also some fantastic discussion on how to onboard onto Terra and a member shared details about the NFT platform randomearth.io.

Discord

The Discord’s #Airdrop channel has launched and is open to both CS Members and the general public. Thank you to all those sharing alpha so far!

An active Discord member also shared a summary of Teranode’s recent interview on crypto personality Cobie’s Up Only channel and provided a list of his active investments.

Mr Cartographer AKA Nathan Gurr, responded to a member who asked how he evaluates the safety of smart contracts for smaller projects.

Twitter

There was some quality meme action and love for our crypto portfolio!

🎗Wrap Up

Don’t forget, we are running a New Years Referral promotion!

To celebrate the New Year, we are doubling our referral credit offer from $50 to $100 (AUD) and giving you a chance to win $1,000 (AUD) worth of bitcoin. Simply head to the link for more information!

And if you’re not a member and want to try our platform risk-free, ask member support about our new free trial!