Gm, fellow traders, we hope you are all enjoying the holiday season.
During the Christmas month of December, markets usually slow down, traders step away from desks and step into stockings (don’t get us started on the whole tax-loss harvesting thing), and get ready to buy gifts for family and friends. In the past week, we have definitely seen the effects of that, as on-chain transactions have slowed down significantly.
With BTC chopping in the 85-90k range, market participants have been going insane. No need to over-trade these ranging conditions; the goal is always to survive for better times.
Now, there is one hope the market awaits during this time of year: the famous “Santa Rally”. Historically, across markets, the days after Christmas up until early January have been beneficial for traders like us who need one day of green to change everything.
Despite a slow week on-chain, the Solana ecosystem still never rests, with prediction markets once again in the spotlight this week. Phantom and SolFlare have integrated prediction markets, marking a big move in allowing crypto natives to have easy access to prediction markets in an arena they are familiar with.
Solana is showing that it's not just the home for memecoins but the home for on-chain as a whole, from memecoin to yield and now even prediction markets.
When the Fed cuts rates, it allows for long-term capital to go risk on and allows bigger assets like BTC to see positive inflows into it, and from there, our beloved on-chain markets also get their fair share of liquidity
Despite all this market chop and uncertainty, if you're still looking for some fun crypto content from some of the best traders in the space, fomo is now sponsoring the “Risk On” podcast, which airs twice a week on Tuesdays and Fridays at 12 pm EST. Be sure to follow them on X.
If you're involved in Crypto on X, I’m sure you have seen the infamous “White Whale” meme. Emerging from the depths, the White Whale meme has captured CT’s hearts and the whale himself, with over $300k of the Whale’s own money being put in.
White Whale’s chart over the past few days shows us that crypto isn’t as dead as everyone thinks it is
The bonk ecosystem has been quiet for the past few weeks, but this week has been quite the momentum shift regarding USD1 and Bonk coins.
In particular, a certain flying ketamine horse $FKH.
As always, keep track of the majors in the “most held” section directly inside the fomo app.
Snowball launched a week ago and immediately caught the trenches’ attention with its novel concept of using creator fees to fund its own algorithmic trading bot to market make the token, allowing price and liquidity to grow stronger, aka the “snowball effect.”
Rising to an ATH of $15M in market cap, Snowball looked poised to reach higher levels until the revelation of a verification flaw sent the token crashing by 80%.
Earlier in our newsletter, we touched on $FKH, but we can’t forget about another star of the bonk USD1 ecosystem, $SPSC. The cult memecoin is up almost 2x over the past few days since its initial retrace, with the community seemingly even stronger than before.
This week, the top fomo trade spot goes to none other than @remusofmars. Remus has shown extreme conviction with $WhiteWhale, and it has only grown since then, with just one teeny sell early on.
The runner-up spot this week goes to none other than @LacosteTN26, featured on last week’s newsletter. His PnL has only grown since then, showing Lacoste’s diamond hands continuing to hold through volatility
Naturally, the top trade ranks will flip around as the week progresses. If you wish to stay on track, download fomo and keep your eyes peeled 👀
Make sure to join our vibrant community over on Twitter, Discord or Telegram. After all, there’s nothing worse than being left out of the conversation and missing out on what everyone is buying.
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