1/ @binance to invest $500 million with @elonmusk in Twitter
2/ @iamDCinvestor on the NFT art cycle
NFT art (or any) market cycle:
1) early believers see value & buy. price goes up
2) speculators enter
3) FOMOers pile in
4) market tops but most don't know
5) a few of #1 and most of #2 start to sell
6) price collapses as #2 & #3 exit at severe loss
7) if durable, repeat at #1
3/ Luna Foundation buys $1.5 billion in #Bitcoin for its $UST reserves
4/ @punk9059 on the correlation between crypto, NFTs, and stocks
Small 🧵on correlation:
In stocks & crypto, top assets often rise/fall together. The "alpha" of choosing between coins/stocks is often less important than getting macro call right
NFTs seem to be the opposite: money moving between NFTs & picking your set is everything
👇(1/3)