Friday Market Musings

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A little wish from me to all of you to start the new year. I don't like looking back at what we did or didn't achieve last year. What has been, has been. What's more important is how we move forward.

Let’s not look back on the previous year,
we have a brand new one ahead.
Filled with adventures and opportunities,
so let’s look forward instead.

Make the Crypto Move?

And then I'll start right away with the next one. I'm just saying that there are many adventures ahead of us, and you could start a great new adventure! Do you ever feel like you're stuck and want to move? That you want to live off your cryptocurrency, without even having the dirty money in your pocket or in your bank account. Until recently you really had to pack your things and move to El Salvador, but that has changed. This option now also exists within Europe! Then we are talking about the Swiss town of Lugano!

In this town you can live on just your cryptocurrency. Following El Salvador, they have recognized Bitcoin as legal tender. But in Lugano they go one step further. USDT is also recognized here as legal tender, and their own token LVGA.

In October 2022 you could pay at McDonalds with crypto, which at least already takes care of the inner person. But I understand that you want more than just eating McDonalds every day. In December the news came that several hundred retailers are now willing to accept cryptocurrency as a means of payment. With this, the range has suddenly expanded considerably, and according to the city council, it will be possible to live with only cryptocurrency.

If you want to move, and consider looking for another country ... it could just become an option to leave for Lugano. The area is beautiful enough for it, and you are not far from the Italian border. It could be a way to start the new year with a new adventure.

BONK

Maybe you don't think about moving at all, but rather about expanding your family or expanding your portfolio. In both cases, a Shiba Inu could be a good choice.

Whether you want to know it or not, dogs remain popular. And this also applies to the memecoins. Another new dog has arrived. Inspired by DOGE. Yes, another Shiba Inu is running around cryptoland. This time it's a Shiba that should listen to the melodious name BONK INU! simply BONK.

And this BONK has learned a trick, because the meme token increased by several thousand percent. Unprecedented in a bear market. You would rather expect this in a bull market right? Apparently people still have money (crypto) too much, so they are still happy to invest in a new memecoin.

This BONK INU calls itself Solana's Dogecoin. And that could be a point for the attentive reader to set off a few alarm bells.

How did BONK actually develop? According to the website, it was for the following reason.

The BONK contributors were tired of the toxic "Alameda" tokenomics and wanted to make a fun memecoin where everyone gets a fair chance.

For this reason, 50% of the supply was distributed to the Solana Community via airdrop.

But then how could this token rise more than 3000% in just a week? That has everything to do with the token burnings that the anonymous team does.

In addition, you can currently yield more than 1000% API on decentralized exchanges, including ORCA. And a final explanation is that the BONK/SOLANA trading pair saw a 24 hour trading volume of 20 million.

If you were thinking about purchasing a few dogs in 2023, maybe you should think about BONK. I just hope that if you are going to do this, that you are also wise enough to realize that dogs normally cannot fly, and therefore will always end up with four legs on the ground.

Many hands can hold a dog high in the air, but a dog itself cannot fly.

To the moon!

What can fly by itself are the new satellites that are shot into the air by CryptoSat. These satellites, no bigger than a coffee mug, are launched by SpaceX rockets.

Hey, where do we know the name SpaceX from? Oh yes, of course Elon Musk! In this way he makes himself heard again. It should be clear from this that Elon still has a warm heart for crypto, right?

The idea with the new satellites is to use them as an unreachable and secure physical base to store data for blockchain applications, products and services. On January 3, the second crypto satellite was launched. It sounds nice, but other thoughts also come to my mind. I don't know how busy it is in space now, but I just have the idea that quite a bit of equipment and waste is being collected. How long can this keep going well? And is it really necessary? I have my doubts about that, but that doesn't matter.

If you are interested in storing your BTC on such a satellite, you could take a look at it. Maybe it's expensive, I have no idea. But if you manage to reserve some space for your BTC, that piece of BTC will definitely go to the moon, or come very close!

I hope you enjoyed the first Market Musings of 2023. And see ya'll again next week!