♠️ Micro Stakes

Hey there 👋,

It’s been another good week to be in crypto.

Bitcoin and Solana charts continue to look strong to me, Ethereum not so much. Solana NFTs have been on fire, with volume up 70% on the chain over the last 24 hours to almost $7M.

And in today’s feature we look again at the benefits of onchain domains, where I realise I needed to buy a bag of $HNS as my micro-cap play.

Cheers!

— Richard (@richardpatey)

DAI PICKS

• Forthcoming Blast L2 surpasses $600M in TVL (flipping Solana in total TLV) but gets criticised by VC over marketing (Link)

• The best Solana airdrops are yet to come (Link)

• Custody your crypto assets in just one click with no AUM fees (Link)*

• NFT Marketplace Magic Eden introduce a new cross-chain wallet (Link)

• Mad Lads, top Solana NFT, up 3x over the last 3 weeks to over 140 $SOL floor, following $JTO airdrop allocation news (Link):

PLAYING THE MICRO STAKES

Three week’s ago I wrote about tokenizing web2 domains, and top digital asset investor and domain broker Andrew Rosener recently generated over 15K impressions with this post on X about paying for SLDs in BTC:

Mike Carson, founder of the backordering and auction marketplace park.io, which recently sold to Dynadot, replied saying it would be better to have the domain onchain as well:

You can do this with web2 domains by tokenising the domain which Seán Murray says he did using 3DNS:

But only web3 domains, such as Handshake domains (HNS), are truly onchain, benefiting from:

With Handshake you purchase the TLDs in $HNS, a fork of Bitcoin, which is currently sitting just inside the top 1000 on Coingecko with a market cap of $12M:

HNS ran up to $0.85 back in May 2021 when Bitcoin first peaked, but interestingly only to $0.50 at the final peak in November 2021. It’s been trading around its current price point for a year now.

Looking at a bunch of micro-cap sh*tcoins that have recently run up to inside the top 500 with almost no utility, it’s hard not to be bullish on a decentralized internet blockchain DNS that continues to be built out on:

The post on X above by Richard Kikendall, the namecheap CEO, is about the forthcoming Thunderbolt, a P2P communication through DNS. As Hey TX states:

And then there is the ‘Happening’ event, which is scheduled to take place in Q1 of next year where premium, reserved lists of TLD names are about to expire and become available to purchase in $HNS.

There is a lot for me to be bullish on with Handshake, and just like how I ground up from micro-stakes in online poker into the mid-stakes, I just bought a bag of $HNS on MEXC hoping to do the same!

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That’s it for this time! See you again next week.

— Richard (@richardpatey)

Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. *Thanks to atato for sponsoring this link/issue. There is an affiliate link to MEXC in this issue.