Stacked Insights Newsletter, 10.11.21 BTC stair-stepping t | Stacked

Stacked Insights Newsletter, 10.11.21

BTC stair-stepping to Valhalla
FTX launches NFT market
Threads you NEED to read

BTC chugging higher, ready for $60K

Bitcoin has been grinding its way higher in what seems like complete silence. But now, after months of NFT/DeFi/L1 token hype, BTC is gladly reminding everyone of its eminence.

Lest you forget, Bitcoin’s all-time high is $64K. At the current $57K level, we’re only $7K away from matching. The moment we touch above $64K, price discovery is back on the table.

One trader who hasn’t missed a mark all year is PlanB. According to his S2F model, BTC will close the month at or above $63K — a mere ~15% from where we stand today. From there, his model projects November at >$98K and December at a staggering >$135K.

It looks like Uptober is more than just a meme.

FTX NFTs platform is built different

FTX is always a step ahead. If you have any doubts about that, check the latest Forbes magazine, the cover of which is graced by Sam Bankman-Fried himself.

In keeping with their visionary flow, FTX has launched FTX NFTs, a marketplace designed to compete with OpenSea. However, FTX NFTs is primarily focused on Solana NFTs — a key difference considering OpenSea doesn’t do Solana.

Soon, Ethereum support will be added to the platform, giving FTX NFTs true multichain support yet to be offered by competitors. And while it might be difficult to applaud another centralized NFT platform entering the space, FTX has historically been generous regarding ETH gas fees and customer support.

Besides, FTX NFTs is a launch specific to the exchange’s US arm. That’s significant because American crypto traders & investors have been getting stiff-armed by stifling regulators. Now, American NFT enthusiasts have the greenlight to flip JPEGS in peace.

Threads you NEED to read

The amount of alpha dropped over Crypto Twitter threads on a given day is enormous. Unless you have a personal assistant digging non-stop every day, there’s just no getting it all.

But wait, you have us here at Stacked HQ — and we’ll give you shortcuts to the best alpha of late. Here are the best CT threads you NEED to read.

6529’s Pathway To An Open Metaverse — Cryptopunk #6529 describes in glorious detail why NFTS are a defining moment for future freedom.
6529’s On NFTs 2030 — 6529 with the heat again. This time, they explore why you are insufficiently bullish on NFTs.
Cobie calls all of 2021 BTC price action — In this must-read thread, Cobie goes ahead and casually nails all of 2021 price action from way back in January.
Arthur B defines Web3 — The Web3 moniker gets thrown around a lot. This is a short and concise take on the definition of Web3.