TA is Astrology for Men

(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.)

Gm everyone. Writing to you from the smoggy city of LA right now. I could make this entire post about how much I hate this city and all the reasons justifying it, but I'll save that for a special edition later down the road.

Another good seven days for AVAX in the books, sustaining and building even more momentum vs. last week. I'd like to give most of the credit for this continuation to Daniel Jones and the New York Giants for beating Minnesota last week. If they lose to Philly on Saturday night, send it all to zero.

We also got rid of our absolute basura ads that we premiered last week. We made about $0.20 which is really moving the needle for myself, Wilson and Paul at Mint Media. Someone has to keep the lights on around here. Thank you for your continued patronage!

Lastly, I asked Twitter yesterday who the best shitposter on Avalanche was. I got some solid responses, but this one really took the cake.

Damn.

Market Update

While we're not close to October mini-AVAX-bull-run-szn levels of volume, the last week was pretty great volume-wise - >$25k USD daily Joepegs volume is higher than any other day in the last 3 months. Keep in mind, this is also not tracking Raffllrr which has been jumping out of the gym on volume since launching a few weeks ago. More on Raffllrr below if you aren't familiar, but it's probably the most innovative "trading" platform I've seen outside of Blur, and is highly synergistic with the degenerate behavior that most of us NFT enjoyooooors subscribe to (probably not that great, but who am I to judge).

Project Update (read: Chad Doge Ecosystem Update)

Not a bad week to hold some Chad Doge Supers. As I said last week, Chad Doge Supers sitting at around ~3 AVAX initially after mint was clearly a market mispricing.

If you were paying attention, you would have accumulated over the course of the week, because we're now almost at 5 AVAX per CDS. Still mispriced in my opinion.

Here's some special TA I whipped together this morning to highlight just how mispriced they are.

I welcome any response to my thorough due diligence on future price action for CSD. You will get buried.

Most other projects have remained relatively flat this week, and the alpha has been slim to none. I have my boots on the ground interrogating the appropriate project founders, but in the interim I want to talk more about what Raffllrr is and why I think it's sick.

Really quick, before I do that, reminder that Mechavax is minting today as well. Don't miss out on that as I think it'll get a very good amount of traction. If you missed my coverage of Mechavax last week, check it out here.

WTF is Raffllrr?

Editor's note: I am in no way affiliated with, or in cahoots with, the CHD team or VQ. This is purely my own opinion on a relatively new AVAX platform that I view as bringing much-needed liquidity to an altchain that lacks enough of it.

What if I told you that if you had even a remotely desirable AVAX NFT, you could get liquidity on it anywhere between 1-72 hours? Well, now you can.

Basically how it works is as follows:

For a seller - put your AVAX NFT up for grabs, set a price per ticket, set ticket supply, set auction expiration, let it fly.

For a gambl- I mean buyers: browse Raffllrr website, identify anything juicy that you might like, and throw a couple of .1 tickets on it and see if you win.

In the interest of full disclosure, I've won a few Chad Doge Supers on here for maybe .1 AVAX apiece, but I've also chucked many tickets at Smol Joes, Chikns, and other sought after projects and went bust. But that's the name of the game, right?

I love this thing. It's built with both traders and collectors in mind from the buyside, and allows near-instant liquidity for the sellside. It doesn't try to hide behind the fact that it's reallyyyyyy leaning into the degen trading habits of many who buy and sell NFTs, and I'm honestly surprised something like this hasn't cropped up on another chain. Avalytics just started tracking their volume as well.

To be clear, I don't think this is a replacement for any existing platforms like Joepegs which are fundamental to AVAX (albeit centralized given the mint launchpad / NFT marketplace hybrid approach). I view Raffllrr as a supplemental solution that allows people to exit an NFT relatively quickly. For buyers, they can gamble on a few tickets and try to get a coveted asset for a fraction of the listed price, and in many cases, the demand of tickets will actually net you a premium over the floor price as a seller. There's many intuitive reasons for why this works, and at the core of it lies the gambling mindset - which I have zero problem with.

After all, we are buying and selling images for thousands of dollars. Let's be honest here.

Conclusion

That's all for now - take a moment to snoop around some of the things I touched on if you have a chance.

Warmly,

Chuck