Yes, tastycrypto is now on Solana!

Basking in the SOL, liquidity pools on Polygon, and expected moves for the week ahead.

*|MC_PREVIEW_TEXT|* Good morning to all of you tasty traders… What an exciting morning it is! Solana is now available in the tastycrypto wallet app.  Make sure to update your tastycrypto mobile app to access Solana and everything you can do on the chain. Solana is only available on the tastycrypto mobile apps, but is coming soon to the tastycrypto browser extension. I'm super proud of the tastycrypto team and all the work put into delivering this. It's just one of many big updates we've been focused on as part of our mission to bring access to onchain opportunities to all of tastynation!  Speaking of opportunities, in this edition of the tastycrypto email we also take a look at liquidity pools and how to generate yield in range bound environments. Plus, our performance dashboard update, price momentum signals, and expected moves for the week ahead.   Download tastycrypto Performance, Momentum, Ranges Crypto prices experienced a "dead cat bounce" at the beginning of the week and we're unable to hold gains and continued to slip lower at the time of writing. While prices have trended lower, implied volatility for both bitcoin and ethereum has also come down. Ethereum especially, with its implied volatility falling over 10% on the week.  Looking ahead, lower volatility and lower spot prices imply smaller nominal expected trading ranges over the next week. Bitcoin and ethereum volatilities give us standard deviation moves of about $4,400 and $240 for BTC and ETH. These volatility levels are aligned with where crypto vol has traded over the past few months, but with it being crypto, this can change quickly.  Also on my the, price momentum is continuing to signal we're in a short-term bearish trend, which has been developing over the last few weeks. Until this changes, there's an increasing chance we take a look at the 55k and 2,300 levels in BTC and ETH again. On the upside, 60k and 2,700 have proved difficult for prices to hold above. Solana is Here For months the tastycrypto team has been in the cave, building, and today we're excited to announce a huge update to the tastycrypto app.  tastycrypto is now on Solana! With the tastycrypto app you can now access Solana, Bitcoin, Ethereum, and Ethereum Layer-2 networks, all in one place.    Don't have the tastycrpyto wallet? Get it here! What to know about Solana Solana is a layer-1 blockchain network geared towards scalability and high-speed, low-cost transactions. In terms of functionality, Solana shares similarities with Ethereum, supporting NFTs, defi, and smart contracts. Unique to Solana is its consensus mechanism called Proof of History (PoH), which enables Solana to process transactions almost instantaneously and for typically less than $0.01 per transaction. This is not to say one is better than the other, Ethereum has a much more mature ecosystem, but Solana's use is rapidly growing given its performance benefits.  How to connect It's easy to get started, just update the tastycrypto app and it will generate an address for use on the Solana network, or you can import a Solana address you already use, giving you access to Solana, Bitcoin, Ethereum, and Ethereum Layer-2 networks, all in one place. What you can do on Solana with tastycrypto Like Ethereum, you can connect to applications on the Solana network and participate in decentralized finance. Access to More Onchain Opportunity  Trade tokens through decentralized exchanges on Solana, such as Jupiter and Radium. These protocols provide access to markets for any token or memecoin available on the Solana network, which is one of the use cases driving recent Solana user activity to record highs. Some of the more popular Solana exchanges for swapping tokens are Jupiter and Radium. A Budding NFT Ecosystem Solana is experiencing a surge in users across gaming, music, and entertainment related NFTs, in addition to the art and digital collectibles traditionally associated with the technology. OpenSea, Magic Eden, and Solanart are a few prominent NFT marketplaces available on Solana. Exciting Developments on the Horizon Like we often say in crypto… It's early. Which I believe is absolutely true of Solana, and the broader crypto market still. I consider Solana one of the top 3 chains to be focused on, alongside Bitcoin and Ethereum, and there's reason to believe this narrative strengthens given the Solana network updates coming soon.  Pay close attention to the launch of Solana's Firedancer validator client, the evolution of the Solana Mobile Stack, and the work the Solana team is doing related to on-chain data compression. All network improvements that could significantly drive increased utility and use cases over time. Buy Crypto This Week on The tastycrypto Show While equities have largely recovered from last week's macro shock, reverberations are being felt across crypto with prices slipping lower. We're certainly not in blast off mode, not this week. These sorts of markets can provide opportunities though. We can sit around and complain about price action, or we can take advantage of the chop and generate yield through decentralized exchange liquidity pools, which is exactly what we covered this week on the tastycrypto show. On both Monday and Wednesday, Frank and Glen joined tastycrypto to set up a new ETH/USDC liquidity pool on the Polygon network, using the tastycrypto wallet of course. Together we explain how to use the wallet to create a pool, how it all works, what we want to happen, and the risks to be on the look out for. Watch Now If you're not familiar with this concept, it's one my favorite defi activities and in my opinion, a great way to try and generate returns by expressing a short-volatility view, especially during periods of range-bound price action. We've covered this topic extensively on the show, so much so, there's an entire playlist dedicated on the strategy on our YouTube channel here. tastycrypto on Youtube Have a Plan It's easy to be perma bullish bitcoin, especially if you've been in the space for a while, but regardless of your long-term view, it'd be foolish to ignore short-term price signals, and presently, it's hard to argue crypto is trading very positively. Equities have recovered from the vol shock, but bitcoin and other digital assets haven't followed suit.  Maybe we see crypto catchup going forward... If not, what's your plan? Personally, I'm picking levels where I can continue to dollar cost average into my core investment position, but I think patience is prudent. If we get more downside, especially in thin markets over the weekend, then 55k is my first target. 50-70k is still the range for now. Good luck out there, Ryan Contact |  Blog  |   Learn If you no longer want to receive our communications, please click here. tastycrypto is provided solely by tasty Software Solutions, LLC. tasty Software Solutions, LLC is a separate but affiliate company of tastylive, Inc. and tastytrade, Inc. Neither tastylive, Inc. nor tastytrade, Inc. are responsible for the products or services provided by tasty Software Solutions, LLC. Cryptocurrency trading is not suitable for all investors due to the number of risks involved, including volatile market prices, illiquid market conditions, lack of regulatory oversight, market manipulation, and other risks. tastylive, Inc., 19 N. Sangamon St., Chicago, IL 60607, United States