On The Pulse - Edition #002
Welcome to On The Pulse, with Maui.

Hello and welcome back to this week's edition of 'On The Pulse.' Thanks to all who have subscribed and are reading this via email. If you're currently browsing, consider subscribing! If you find today's newsletter valuable, please recommend it to a friend and feel free to suggest topics or ask questions on my Twitter @jordymaui.

This week, the crypto world has seen a flurry of activity with falling prices yet continuous progression. Our major headlines highlight how, even in times of uncertainty and fear, major brands are consistently delivering positive news and supporting the communities and users who persevere in this space. Let's dive into it all, starting with this week's lesson on Crypto Exchanges.

Lesson of the Week: "Choosing Your Crypto Exchange Gateway "

Dive into the world of crypto exchanges - the key platforms where you buy, sell, and trade digital currencies. This week, we're highlighting my top 5 exchanges and discussing why keeping your assets off exchanges is crucial for security.

🔍 What Are Crypto Exchanges?
Think of crypto exchanges as the stock markets or post offices of the digital currency world. They vary in features, from beginner-friendly interfaces to advanced trading tools and act as the literal ‘exchange’ of monetary value.

🌟 Maui's Top 5 Exchange Recommendations:

1. Coinbase: Perfect for beginners, offering a simple, intuitive interface and strong security + publicly traded company.

2. KuCoin: Known for its wide range of altcoins and user-friendly trading experience, my personal platform of choice.

3. Binance: A global giant, offering an extensive range of cryptos and advanced features.

4. Kraken: Commended for its security and comprehensive range of trading options.

5. OKX: Offers a diverse selection of trading pairs and sophisticated trading tools.

🔐 The Safety of Off-Exchange Storage:
Storing your crypto in a private wallet off exchanges is key to security. Exchanges can be hacked, but with a private wallet, you control your private keys and assets, if you’re unsure where to start with wallets, take a look at last weeks newsletter.

💡 Selecting the Right Exchange:
Consider these factors:

• Range of cryptocurrencies offered.

• Security measures and track record.

• Interface user-friendliness.

• Fee structures.

🛡️ Safety Practices:
Always use strong passwords and enable two-factor authentication. Be vigilant against phishing scams and never share your private keys.

Major Headlines: "The Weekly Roundup"

As always, another crazy week in this industry, filled with significant developments and changes. From institutional shifts to novel trading possibilities, we've seen moves that could potentially reshape the crypto landscape for both retail and institutional participants. Here’s a look at the major stories of the week, breaking them down for both the seasoned and the new entrants to our digital web3 realm.

📉 FTX and GBTC's $1 Billion Outflow:

FTX's decision to sell off about $1 billion in Grayscale's Bitcoin ETF has sent shockwaves through the crypto market. This move could indicate a strategic shift by FTX or a broader realignment in institutional attitudes toward crypto assets. It also raises questions about the future market dynamics and the role of such significant institutional players as after all, they ruined it beforehand. For insight, it’s also contributed towards the recent decline in $BTC price. Read More in this article.

🚀 Magic Eden's Market Strategy:

Magic Eden is positioning itself as the leader of the NFT markets with its latest marketing push and the impending release of their $NFT token through the Non-Fungible DAO. This aggressive strategy is a clear signal of their ambition to not just participate in but to dominate the evolving NFT market, rewarding their users for their loyalty and transactions on Magic Eden. This is a HUGE move and brilliant for the space in general and you can read more about it in this twitter thread; See the Tweet

🤝 Rollbit and Faze Clan Partnership:

The partnership between Rollbit and Faze Clan is a significant milestone, merging the realms of crypto gaming and esports. This collaboration could pave the way for new types of entertainment experiences, blending the thrill of gaming with the world of cryptocurrency and possibly influencing future trends in both sectors. While it is gambling related, Rollbit as a brand offers amazingly fair gameplays and often does a lot of ‘cool’ partnership and activations, unlike traditional gambling companies. I personally look forward to seeing this play out and being a positive thing for more eyes on the industry. Check out the Tweet

🌐 Dogecoin's Surge Amidst X Payments Speculation:

Dogecoin's price increase, sparked by rumors of its potential role in the X Payments system, highlights the speculative nature of cryptocurrencies. This surge illustrates how market perceptions and community-driven discussions can lead to rapid changes in value, reflecting the unique dynamics of the crypto market where something as simple as Elon Musk moves prices. This one is generally speculative and nobody really knows if true or rumoured. Explore more on this CoinTelegraph write up.

📈 BTC ETF Options Trading Set to Begin:

The expected start of BTC ETF options trading in February represents a significant evolution in the cryptocurrency investment landscape. This development by Nasdaq and CBOE is set to open up new investment avenues, potentially drawing a broader range of investors and increasing mainstream adoption of Bitcoin as an investable asset. Companies and platforms like Robinhood are most famous for providing people with the trading platform for stock options and having this for a BTC ETF would be very, very positive.
More details on this, here.

Maui’s Weekly Analysis of Charts

Dive into the pulse of the crypto market with me for a quick overview. If there are elements you don’t understand here, don’t worry – feel free to ask me questions on Twitter. Interested in a specific chart analysis? Let me know! I’ll also be holding weekly polls based on your suggestions. Anyway, here are this week’s charts:

₿ BTC (Bitcoin):

• Recent Price Action: Over the last 7 Days, $BTC is currently down 6% from $43,000 last Wednesday to currently $39,800 as I write on Wednesday of Newsletter publishing (24th Jan).
  
  Last week, we ended with an awful weekly candle close that lead to more downside. More $GBTC selling pressure and more long liquidations have lead an additional two sweeps of lows before finally bouncing at $38,500.
  

• Weekly Forecast: Yesterdays bounce was strong and despite the weekly looking over extended still and lower $30,000’s looking interesting, there is reason to believe that a rally to the $43,500-$45,500 area is coming.
  
  Personally, I would remain optimistic that the lows of $38,500 and the strong daily bounce is enough to see a push to return to our key areas (noted in last weeks analysis too) and price return to $43,500 to build support. If we do however continue moving to the downside, this optimism is turned bearish if we do not hold through $38,500 again and head towards $36,000 our next logical support range.

♦ ETH (Ethereum):

Recent Price Action: Over the last 7 Days, $ETH is down 13% from $2,600 last Wednesday to currently $2,200 - following that of Bitcoin after a miserable week of dumping.

• Weekly Forecast: ETH is currently stuck in a range from breaking above $2,700 and breaking below $2,200. If we are to see a weekly close above $2,450 area we can expect to be positive and run to resistance level again, hoping for a breakthrough of the highs. However failing to hold the $2,200 level over this week can certainly lead to trouble and a breakdown to even lower prices, around $1,800.
  
  For me, this week is more about watching $ETH than actively trading it. A lot of its movement will be down to the ETH/BTC charts and if outflows continue from $GBTC. Will refrain from any bias this week and stay patient based on the two levels explained above.

🟪 SOL (Solana):

• Recent Price Action: Over the last 7 days $SOL is currently down 15% and has flown down to it’s reaction area of $80 where it’s also bounced alongside the rest of the markets.
  

• Weekly Forecast: After previously rejecting the $100 range for continuing its move to the upside, $SOL is in an area we would typically look to buy in. Although the downside range is $75-$85, the significant bounce from psychological levels at $80 was enough for us to look for continuation to the upside.
  
  My outlook for this week is certainly positive for Solana as we attempt to break out of this downwards trend and return to challenge the highs of $120-$125. If there is still significant resistance at $100 and we fail to breakthrough, our bias can change to neutral as it likely forms a range.

🔺 AVAX (Avalanche):

• Recent Price Action: The last 7 days has seen $AVAX fall 15% in tune with the other altcoins in crypto. While we must be cautious of Bitcoin Dominance strength (more on this next week) there is still key areas to look out for with Avalanche.
  

• Weekly Forecast: This last week, $AVAX has fallen from $36 down to a strong bounce low of $27. One of the strongest bounces across the board of altcoins and is lying at a decisive support area. It is certainly a struggle to look for ideas in any altcoin chart during this time but our forecast can certainly look for strength by continuing its rally to return to the $40 range or confirming even stronger support at $30 through the week.
  
  My opinion of $AVAX is certainly to recover to the $36-$38 area as we build support and move away from the third and final flush of the lows. It’s important to notice the RSI (relative strength index) across most coins is currently oversold, meaning longs are likely to be taken through the week and positive price action follows.
  
  If you have any specific charts you’d like me to take a punt at next week, please do tweet me suggestions, i’ll happily poll ideas too.

📰 The Summary: From Crypto Trends to NFT Buzz

Each week, we will end the newsletter with a really brief TLDR (Too Long, Didn’t Read) assessment of what’s been going on this week across Crypto and NFTs. I hope this section provides additional value for those who read!

Crypto:

• 📉 Market Trends: This week has been bearish across the board as prices fall and $GBTC sales continue to flow.

• 🆙 Crypto Bounce: After a week of downwards trending, the majority of crypto assets have seen a significant bounce and look to hold support levels.

• 💸 Celcius move $1.2b of $ETH: Celcius Network have moved $1.2b worth of Ethereum ahead of liquidation.

• 🔮 Grayscale Takeover Speculation Increases: After being able to turn their Bitcoin trust into an ETF, it’s rumoured Grayscale could be open to a takeover.

• 🪙 Hong Kong ETFs: Speculation has increased that Bitcoin ETFs in Hong Kong could come later this year, after successful US launches.

NFTs:

• 🧹 $2.7, Crypto Punks Sweep: During the week, there was a huge sweep of crypto punks for a whopping 2.7 million dollars.

• 🎁 Magic Eden Rewards: Magic Eden announced their rewards system that has taken the space by storm. (Great going.)

• 🤡 Donald Trump Announces Ordinals: Donald Trump will be released ordinal NFTs…

• 🚀 Rollbit Partners with FAZE: Rollbit have made more moves to market to ‘normies’ and gamers through sponsoring FAZE Clan.

• 🎨 3AC’s NFTs head to Sotherbys: Assets held by bankrupt 3AC are heading to auction at world famous sotherbys.

And with that, we’re wrapped up for another week. Next week, we will look into Bitcoin Dominance and Altcoins as our weekly lesson and cover the latest large headlines in Crypto and Web3. If you enjoyed this weeks newsletter, please feel free to support by following me on twitter @jordymaui

Until next time!