Friend tech is blowing up right now.
It’s a dApp on Base L2 that lets X users sell shares of their following.
All you need to do is connect your account with @friendtech, send some $ETH to Base, and voila.
Excited or skeptical? What are your thoughts?
Degen Weather Report ⛅️
💸 Crypto Highlights:
Legal Tangles: Glow Token CEO targets CryptoCom with a $250K lawsuit.
The Beloved Meme: The iconic Dogecoin mascot passes away, sparking sentimental reactions.
Turbulence Ahead: Bitcoin ETF for 2023? Slim chances, say experts.
Regulatory Watch: Singapore sets sights on stablecoin regulation.
🎨 NFT Buzz:
Stellar Performers: Friend Tech astonishes with 11K ETH in 10 days.
Mainstream Views: Pudgy Penguins hit a whopping 6B Giphy views!
Rumblings: Friend Tech under the microscope for transparency issues.
Big Sales: Bored Ape #8585 goes for a cool 153.00 ETH.
🌍 Macro Movements:
Retirement Reimagined: U.S. inflation reshapes the nest egg with a $3-5M benchmark.
Defense Dynamics: Australia eyes U.S. Tomahawk missiles.
Real Estate Ripples: China's real estate index nosedives, down 85% since May 2021.
Sporting Triumphs: Spain clinches the title in the Women's Football World Cup.
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✅ Follow @0xAbhiP for more insights
Degen Weather Report ⛅️
🔵 Crypto Highlights
Binance: Rumored loans against BNB; recent liquidation of $30m hacker loans.
Friend Tech: Dips in volume and price; top trader's 260ETH profit.
Bitcoin: Whale's speculated $3bn accumulation, possibly linked to Gemini.
Coinbase: New stake in Circle; notable $280m daily trading spike.
China: Eyeing a metaverse-based social credit system.
Gemini: Pushing for an SEC lawsuit dismissal.
🔵 NFT Buzz
OpenSea: New 0.5% fee post-royalty feature introduction.
McDonald's: Prepping for Grimace NFT launch in Singapore via Polygon.
Azuki: Partners up with NFL's Pat Mahomes.
Blur: Sees TVL drop to $90m, a 50% dip since June.
🔵 Macro Movements
Tech Stocks: Nvidia & Tesla climb by 8%.
US Economy: 10-year bond yields at a 2007-high; Goldman's 20% US recession estimate.
Banking: Regional banks face S&P downgrades.
ARM: Gears up for a potential blockbuster Nasdaq IPO.
Microsoft: Updates its Activision Blizzard deal.
Panama Canal: Struggles with significant shipping backlogs.
US Politics: Trump's upcoming Georgia indictment case address.
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📷 Follow @0xAbhiP for more insights
I’m honored to be an advisor for Magic Eden’s $1M Polygon Creator Fund, guiding the next wave of ecosystem creators.
Feeling optimistic about the future of native Polygon builders 💜
Good Morning ☀️
i think i should buy some shares with the trading fees i have earned from @friendtech
shill me some undervalued shares in the comments..
Eigenlayer to reopen it’s staking pool at 2pm UTC
- Be ready with stETH, rETH, or cbETH
- Deposit 'em at 2pm UTC on https://t.co/wAhZ8Wc87O when then the pools reopen
With $64M funding & only around 15K users staked in their pool, if they do an airdrop, it could be a good one! 🪂
@eigencloud
@friendtech is taking over the crypto industry, amassing over $1m in fees over the last 24 hours.
• The future of the platform
• The seed round
• The valuation
• The 8-figure airdrop, and more.
🧵👇
Don’t fall for this trap.
You start day trading.
You're feeling good.
You figure you made an easy 2x.
After all, you bought and sold at the right times.
But there’s one big problem….
.
You look in your wallet.
You have less money than you started with.
What happened?
Fees and Spread happened.
Spread:
The difference between the bid and ask price.
What does that mean?
Here’s an example:
You place a market buy order for an asset with a listed price of $100 on an exchange with 0 fees.
You then immediately sell that asset at the same listed price.
You look in your wallet and you have 3 less dollars.
How?
The spread was $3.
That $100 listed is not the price you will get the asset at.
The $100 is typically the last traded price for that asset on the exchange.
So what happened?
When you bought:
The exchange searched for the lowest sell (ask) price to sell to you.
Highest Bid Price: $100
Lowest Ask price: $103
Since there wasnt a sell (ask) price as low as $100 (or one large enough to fill your order)…
The exchange kept looking at higher prices, until it found $103.
Your order was filled and you received your asset for $103 dollars.
When you sold:
The same thing happened in reverse and your order was filled at the highest bid price for $100.
Net loss: $100-$103= -$3
Fees:
We all know about fees.
Gas fees. Tx fees. Deposit fees. Etc.
But how many of us actually keep track of our fees?
Fees can range from $0.10-$60, depending on network and time.
As a day trader, these fees will add up quickly.
How to avoid high fees and spread:
1) Check the fees before you place any order.
2) Use limit orders instead of market orders to avoid the spread and lower fees.
3) Use AMMs over orderbook exchanges for small trades.
4) Routinely check how much you're spending on gas with online calculators.
Are these steps simple?
Of course!
But they are often overlooked.
Keep in mind, this guide applies to Orderbook Exchanges, AMMs have their own risks with slippage and price impact but are generally best for small trades.