Now that the turkey and all the sides have filled our stomachs, it is time to focus on the next holiday – Christmas. The Christmas tree goes up, Christmas lights and decorations line our houses and neighborhoods, and our credit card bills stack up with all the gifts we need to buy. Christmas time is a favorite for many because of the happy, nostalgic memories that flood our minds. Think about your Christmas holidays. They are usually filled with happiness, joy, and numerous fond memories that rarely fade away. Many wish that Christmas joy could last year-round and, aside from paying way too much for Christmas presents, they look forward to what the Christmas season brings.
As we walk into December, many also look forward to seeing a turnaround for cryptocurrency. The week gave us a bit of fresh air as it seemed to breath some life into cryptocurrency. The top two cryptocurrencies saw a 4.4% rise and 6.5% rise. This was on the cusp of Federal Reserve Chairman Jerome Powell indicating that the central bank may start to ease interest rate hikes. [1]. That breath of fresh air was short lived as cautious investors are still wary due to the failure of FTX.
Yet, despite the cooling period, there are a few projects that are building and growing in this uncertain market. Projects that can withstand the volatile periods of the bear market usually have the greatest returns when the bull runs. Many say the bear market is the builder’s market and the following projects are doing just this – building during the lean times to prepare for the influx that will certainly happen once the bull starts its run.
Bolix Token
Never stopping, never sleeping, Bolix Token is continuously looking for ways to bring change inside the crypto industry. As its opening statement says on https://www.bolixcorp.com/, Bolix Corporation believes crypto should be more than hype and emotion – it should be more like a business. This is the mindset that its lead developer continues to work towards in building its brand. It recently updated its litepaper on its website, opened a live chat function on its app called Spaces by Wix (available on both the App and Google Play store) whereby holders and non-holders alike can sign up and talk directly with any team member, holder, or non-holder, and started Bolix Media (on Twitter @BolixMedia) to share information with anyone who is interested in learning more about all things crypto. Let’s also not forget that its second set of its ten NFT collection is now available to the public to mint at https://www.bolixmint.com/. Yes, it seems that those behind Bolix never sleep – always looking for ways to enrich those who are holding and accumulating Bolix Token.
Bolix Token started the week at $0.00002165 but has since jumped to $0.00002350. This represents an 8.5% increase. Not too bad of a week. A look at the charts shows that while people are selling, many are still buying and accumulating. Let’s not forget that there are constant buyback and burns, causing a less amount of tokens available, while increasing the price due to the decrease in available tokens. Keep your eye on this one.
Kishimoto
Another token to keep an eye on is Kishimoto. Kishimoto is a quiet kid that rarely makes a lot of noise. Just like a ninja, the team is quietly working in the background building and growing their brand. A look at their website shows what they are doing in this crypto space – Adapt – Improvise – Overcome. The crypto space can be so volatile at times, yet Kishimoto is proving by their actions they are not moved by its volatility.
A few highlights of Kishimoto include The Crossing Bridge from Catoshi, which allows holders to transfer their Kishimoto V2 tokens between the Ethereum blockchain and the Binance Smart Chain. It’s no secret that some prefer one to the other and Kishimoto has made it easier for both sides to hold their tokens on whichever blockchain their prefer. Additionally, the Kishimoto team is working on and tweaking their Open World Role Playing Game (RPG) that will include player vs. player and player vs. everyone. Those who hold the Genesis Kishi Ninja NFTs will have exclusive first access to the game. If you are a gaming fan and want to be one of the first to check this exciting game to be released, head over to https://nft.kishimoto.io/ to mint your Genesis Kishi Ninja.
A look at the chart for the Kishimoto token shows their holders are also quietly accumulating the token. Kishimoto started the week at $0.00003739. It is now hovering around $0.00004120, a roughly 10.2% increase. Not too bad for the quiet kids in the back. As they say in the Kishimoto community: “Kishimoto is the motto” and the community members are showing this by accumulating the Kishimoto token and the Genesis Kishi NFT collection.
Lillian Finance
Lillian Finance is an interesting project to look at. Despite so much negativity in the world, social media platforms, and sometimes into the crypto sphere, Lillian is continuously working behind the scenes to make a major wave for those who need it most and is branding itself as “The Next Generation Medical Finance Blockchain.” What does that mean you may ask? According to their website, https://www.lillianfinance.com/, this involves, “From the lab bench to billing, from diagnostics to data management, Lillian launches and supports projects that break down the barriers to new knowledge…that often makes care inefficient, ineffective, and inhuman.” In short, Lillian wants to make it easy for everyone in the medical industry to be able to work together as one unit instead of several thousand separate units.
One of the key interesting partners of Lillian Finance is the Lillian Bay Foundation. This foundation, according to https://www.lillianbayfoundation.org/about is to nurture holistic wellness for children, especially those who need immediate medical assistance for children. The foundation provides direct funding for surgical procedures that medical insurance will not provide. One of Lillian’s partners is The Giving Block, which is embarking on crypto philanthropy. So far, The Giving Block has been featured in the Wall Street Journal, Time Magazine, and Forbes, and has already processed more than $100 million in digital-asset donations. [2]
One of the highlights that came out this week is Lillian’s Tier One Exchange on Coinbase that will go live on December 9th, 2022. This is exciting news for the company and should bring about the trading volume they need to continue to help children all over the world get the care they need without worrying about whether their insurance will pay for it or not.
Dogecoin
Dogecoin, which started as a joke cryptocurrency between two engineers, IBM software engineer Billy Markus, and Adobe software engineer Jackson Palmer, has made some serious headlines as of late. It’s no secret that Tesla Founder Elon Musk is a fan and, according to David Gokhshtein, Musk is interested in turning something that started off as a joke into something serious. He has been one of its biggest fans and has helped the price rise and fall, based on his tweets, television show appearances, and statements to the press. This week has been no different.
Doge has rallied 40% in the past ten days. This is a huge jump considering Ethereum only gained 18% and Bitcoin only rose 8%. So why the sudden rise? There are several reasons, all of which are tied back to Musk. One of the speculations that Forbes Digital Assets [3] reported was the speculation of Musk and Ethereum co-founder Vitalik Buterin, who has made several donations to the Dogecoin Foundation, are working together to upgrade the coin from a joke to a token that is taken seriously. Additionally, earlier this year, Musk hinted that Doge could be integrated into Twitter to be used as a payment method for Twitter Blue [4]. Though he backed away from the idea, the speculation that he may do so refuses to go away, especially since Musk himself keeps the speculation alive as seen on a slide deck he posted on Sunday night which shows a “payments” section on Twitter, but not how those payments will transpire.
Doge’s all time high was $0.63. It fell sharply after Musk appeared on Saturday Night Live. Yet, the token is showing a lot of perseverance. Over the last seven days, Doge rose from $0.08189 to $0.1031, an increase, according to CoinGecko of 24%. Not too bad for a joke. Maybe it is time to take this token seriously.
Shib Inu
Shiba Inu is still an interesting token to keep your eye on. Created in August 2020 and dubbing itself, according to Fortune Magazine [5], the Dogecoin killer, it has gained the attention of many companies and has slowly, yet steadily, been accepted as payments for various services. These include Venezuela’s Repuestos Docarr, Spain’s Nova Taxi service, Brazil’s Shiba Pet Care, and Mexico’s delivery app Rappi.
In 2021 and early 2022, the “Hey Robinhood, when SHIB?” had a lot of investors hopeful that the stock trading app Robinhood would put Shiba Inu on its platform. The pressure was so intense and gained so much attention that even Newsweek magazine reported about it. [6]. Robinhood never did list Shiba Inu, but that did not stop the token from continuing its run.
The biggest news of the week from Shiba is when Binance received large amounts of Shiba Inu tokens on Tuesday, which raised speculation about the potential price drop. This transfer came from an address that is allegedly owned by Crypto.com, who owns roughly $558 million worth of the token. [7]. Yet, despite this move, Shib still sees a steady flow of traders buying and selling. Shiba Inu began the week at $0.00000904 and is now trading at roughly $0.00000928, which is roughly a 2.4% increase. In this bear market, all increases can be considered good increases.
Despite the market’s bearish looks, there are projects that are working tirelessly in the background. Doing your own research to find these diamonds in the rough could allow you to find that project that resonates with you and could potentially be profitable. Of course, the crypto market remains volatile at the moment, especially with so much uncertainty in the world. An ongoing war, interest rates, and trust issues after the FTX collapse, can all be overwhelming. Yet, the crypto community is a tough crowd and standing strong against the waves, finding these diamonds in the rough, and accumulating if you can, may allow you to smile later when the market turns around.
**Would you like to have your project highlighted during the weekly Defi roundup? Send an email to derek@bolixcorp.com, james@bolixcorp.com, or jason@bolixcorp.com and let’s talk! **
[1] https://finance.yahoo.com/news/markets-bitcoin-crypto-rise-fed-004919509.html
[2] https://www.wsj.com/articles/tax-breaks-bragging-rights-drive-crypto-and-nft-donations-11651418917?mod=hp_featst_pos4
[3] https://www.forbes.com/sites/billybambrough/2022/11/26/amazing-elon-musk-crypto-upgrade-speculation-suddenly-sends-the-price-of-dogecoin-and-ethereum-soaring/?sh=7a81d0733c35
[4] https://decrypt.co/97511/elon-musk-wants-twitter-blue-subscriptions-paid-dogecoin-joking
[5] https://fortune.com/2021/05/12/shiba-inu-coin-price-shib-dogecoin-killer/
[6] https://www.newsweek.com/shiba-inu-robinhood-petition-listing-crypto-drops-1594120
[7] https://www.coindesk.com/markets/2022/11/11/cryptocoms-preliminary-glimpse-of-token-reserves-reveals-20-in-shiba-inu-coin/