【Woody's Column】Sharing Cryptocurrency Updates for September 2021

This article is a personal investment sharing record and does not represent any investment advice. Cryptocurrency is a high-risk investment compared to stocks. Investing involves risks, so entry should be cautious. Personal research may contain errors or misunderstandings, so please help verify any problematic areas.

This article is authorized for reprint by Woody. For the original article, please refer to Medium

BITDAO

BIT is still playing dead, becoming the worst-performing project in August. However, Bybit's profitability is still remarkable. When the head is washed down, one can only continue to put it down. People with time cost pressure should consider whether to exit. In theory, the project party should take action.

There is not much to say about other directions. Basically, as long as you ride the trend, you will make money.

September Thoughts

In September, attention will still be focused on new trends, which were mentioned last month. Although positions have been reduced, they are still held. At the same time, attention will also be paid to the promotion of NFT by other new public chains. The most important thing for new public chains to promote NFT is to allow everyone to make money. The transaction fees in the ETH NFT market are too high, so there will definitely be spillover effects.

GAMEFI also needs to keep up with the pace. Many projects start with NFTs and then bring them into games. If the game design is good, it is possible for NFTs to double again.

DOT KSM Not as Bad as Imagined

The big event in August was SOL surpassing DOT in market value. Before this, I thought DOT was already dead and would go the way of EOS. However, after re-evaluating the profit benefits of KSM auctions, there are still benefits, and the community cohesion is not as bad as imagined. Perhaps DOT still has a fighting chance. Interested students can research and consider reducing their SOL holdings and increasing their DOT holdings. The downside of DOT is that there are too many Chinese chips and project parties in China, lacking creativity.

Optimism Arbitrum Boba Network

If you can't afford Ethereum anymore, where will the money flow? It is possible that it will flow to L2. The scaling solutions of the above L2 projects are worth paying attention to. Optimism is the orthodox army of Ethereum, Arbitrum is compatible and inclusive, and Boba Network is launched by the old coin OMG. These projects may have airdrops for early supporters.

You can find from the news that there are already camps in L2, which is best for retail investors.

FIDA DXL

You can see from SBF's recent tweets that FIDA has been relatively strong. I have also communicated with their team, and they are very serious. SOL's first on-chain perpetual contract, and what I think is the coolest is that they have monopolized SOL's domain name. These niches can make FIDA competitive in the future.

DXL is a project created by a Korean team. Korean projects usually satisfy investors because they have much better UI/UX experiences. Therefore, I entered directly when the IDO ended, and the initial entry price was 1.5-2X. They may have IDO plans in the future, and now I am just holding on and waiting for further news.

Related community links are updated according to mood, more frequently than monthly reports.

• FB Group
• Telegram Discussion Group
• Telegram Channel

Finally, I am looking to recruit talents here. If conditions permit, I would like to establish a trading room. The idea is still very early stage. Currently, it is a recruitment situation. Anyone interested is welcome to email me or message me directly on Facebook. No specific educational background is required.