Weekly Beluga Insights

After Bitcoin took a nosedive under $60,000 this past weekend amidst massive outflows from the ETFs, it made a strong recovery and seems to still be holding this new range for the time being. Dips are still for buying, and with the launch of the Beluga Public Trading Wallet we’re putting our money where our mouth is! We’ve started our trading journey with $100,000 and will publish all our addresses and trades publicly for all Beluga users to see very soon on our website. For now, however, check out the What We’re Watching section to see what we bought first!

Major Movers of the Week

• Render (RNDR) +40.77%

• Akash Network (AKT) +39.20%

• Worldcoin (WLD) +26.89%

• Wormhole (W) -15.81%

• Helium (HNT) -11.34%

• Optimism (OP) -11.08%

What We’re Watching

With the huge surge in interest in “SocialFi”, or Social Finance, due to the launch of Friend.Tech’s token recently, I’ve had my eye on other competitors like DistrictOne on the Blast network. The native token of DistrictOne is called $OLE, and it’s actually a token we’ve mentioned in the newsletter a few weeks ago as a top pick for tokens on Blast. In a nutshell, DistrictOne is a messaging app on steroids with financial incentives for users and content creators alike. This combined with the hype around Blast itself has driven a lot of user activity to the platform, however up until this point the token has stayed relatively dormant.

Bitcoin taking a dump last week opened up an even better entry point on $OLE than I had been expecting, so using 2.95e from the trading wallet I purchased 120,000 $OLE tokens at an average price of a little over 7 cents. The recovery of Bitcoin along with further attention on OLE itself seems to have spurred on some nice price action so far with our tokens being worth $12,970 with a total cost of $8,800, representing about +50% in just over a week.

While this is certainly some nice profit, at a current market cap of $25M I have much higher targets. We’re in the middle of a frothy market, however with Blast’s airdrop set to hit towards the end of this month I expect all Blast ecosystem tokens to catch a strong bid as we’ve already started seeing. We’ll update readers via the newsletter on changes to our trades once a week, and soon we will have a page dedicated to the wallet on the site which Beluga users can go to and follow our actions in real time!

As a reminder, none of this is financial advice and is purely for educational purposes.

Quick Quips: Catch Up on What You Missed

• Asset Manager Van Eck Launches Memecoin Index

• Robinhood Crypto Trading Surged in Q1

• Marathon Digital Profit Spiked 184% in Q1

• Fantasy.Top Breaks Top 10 Protocols by Revenue in its First Week

Tweet of the Week

Beautiful work from CT gigabrain Jez

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Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions.

Will is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR