I know there’s pain (I know there’s pain). Why do you lock yourself up in these crypto chains? (These crypto chains.)
No one can save your portfolio except for you.
Don’t ever let Wall Street walk all over you.
Just open your crypto wallet and your mind (Mmm).
Is it really fair to feel this panic inside? (Woah).
Umm … hold up. Are we really gonna go through this whole song? ‘Cause if so, I’m gonna need some more coffee.
Someday some rally’s gonna make you wanna turn around and say: “I’ll buy!”
Until then, Great Ones, are you gonna let this market hold you down and make you cry?
Don’t you know? Don’t you know things can change…
Things’ll go your way…
If you hodl on for one more day!
Can you hodl on for one more day?
OK, so maybe you’re not quite as jazzed about the crypto market as Great Stuff is right now.
Admittedly, it’s been a rough week for most of the major crypto players … and Wall Street’s panic-selling has even made some investors question the legitimacy of cryptocurrencies as a safe-haven when the market starts melting down.
I get it. When you’re reading headlines about certain “stablecoins,” like Luna, losing most of their value in a single week, it’s perfectly reasonable to feel squeamish about all the other crypto coins out there.
But before you start pounding the big red “Panic!” button — y’all have one of those sitting on your desks, too, right? — I want to reiterate that not all stablecoins are created equal. Just like not all traditional cryptos are created equal.
The difference is that while TerraUSD is backed by Luna (LUNA) — another crypto — which is, in turn, backed by Bitcoin (BTC) — yet another crypto — which you then sell for money … or something, Tether is actually backed by cash.
So to close out your Tether holdings, you trade them one-for-one with U.S. dollars. What’s more, Tether has enough cash on hand to handle most redemptions.
That theory was put to the test recently when crypto traders in the stablecoin market lost their damn minds after TerraUSD and Luna both cratered.
To combat this run on redemptions, Tether pumped more money into its banking channels to cover. The situation righted itself pretty quickly for Tether … not so much for TerraUSD.
Here’s Tether’s Chief Technology Officer Paolo Ardoino commenting on the situation:
It’s all fun and games until you are a $10 billion stablecoin. Until you are a $5, $10 billion stablecoin, even if you have some liquidations because you are backed by some Luna and a small portion of bitcoin, the current crypto markets are still able to maybe, probably, absorb that.
But if you start doubling the size to a $20 billion stablecoin … there is no way that the market can absorb these types of liquidations.
That’s a smart CTO running a smart cryptocurrency.
The problem is: How do you know which crypto coins are smart and which require three different forms of crypto exchanges just to get your cash back?
Well, Great Ones, you’re in luck! Because I have a solution for you right here. Or rather, Ian “The Crypto” King has a solution for you…
Which he explains in this exclusive presentation.
In it, Ian will show you how he sorts out the good cryptos from the bad ones … and how he’s used this strategy to discover a little-known crypto the financial elite say could be 20X bigger than bitcoin.
This “Next Gen Coin,” as Ian calls it, has the ability to “power the rails of global finance” … a $100 trillion industry.
No wonder Elon Musk made sure this coin was one of only three cryptos he owns … and why billionaire hedge fund manager Ken Griffin said it’s “superior to bitcoin and will eventually replace it.”
To learn more about this Next Gen Coin — and how to identify cryptos with real investment potential — click here for all the details.
After you’ve checked that out, here’s some other Greatness you might’ve missed this week:
After 13 long years, the bull market we’ve all come to know and enjoy has finally come crashing down. But what does this mean for your portfolio going forward?
A handful of the world’s wealthiest investors are pouring millions into this new technology every year … but you can invest alongside them for a fraction of the price.
The price of gas is “too damn high!” for many everyday Americans … and it’s making the electric vehicle argument even more attractive right now.
Bitcoin and other big-name cryptos may be bottoming out, but one expert says now’s the time to back up the truck and buy.
The Fed’s interest rate hikes can “fix” demand, but what about that massive supply chain issue?
Enjoy the rest of your weekend, Great Ones! We’ll be back with you tomorrow to … well … do it all over again.
In the meantime, write to us whenever the market muse calls to you! GreatStuffToday@BanyanHill.com is where you can reach us best.
And here’s where you can find our other junk — erm, I mean where you can check out some more Greatness:
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Until next time, stay Great!