The Humble Farmer's Digest 10/24

Your weekly dose of Crypto, DeFi, and more...

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Oct 24, 2023

Hello Humble Farmers, thanks for reading!

This substack aims to share everything we’re paying attention to, including new launches, good farms, tokens, and much more. If any of that sounds interesting to you, please subscribe!

What We’re Watching

Outperformers

It seems like crypto is finally back, with a Bitcoin-led rally leading the way for a select group of alts to outperform. Ironically, the fake ETF approval announcement by Coin Telegraph seems to have been the catalyst for this newfound uptrend, as it was a signal to the market that participants were offside for when the ETF would really approved.

As mentioned earlier, there are a basket of alts that have managed to outperform over the past week. Tokens like SOL, LINK, STX, INJ, AAVE, APTOS, and others, are up 20-30%+ over the last few days, all while the ETH/BTC ratio continues to drop. It seems like ETH FUD continues to increase, and while it’s generally not a good idea to call bottoms/tops, there will be a time when ETH outperforms the market once again. Positioning for this going into EIP-4844 may be a good idea, but that’s a discussion for a later day…

On-chain mania has also started to come back, with gas prices spiking to areas not seen in weeks/months. The last time we had an on-chain alt season, it was led by Unibot, Rollbit, BITCOIN, and OX. History doesn’t repeat itself but it often rhymes, so it could be a good idea to keep an eye on these tokens. When you see these violent moves early on in a rally, it’s often a bad idea to fade the winners by looking for laggards.

One thing to keep in mind is that this move did not come off the back of any structural market changes; the ETF wasn’t approved, interest rates are still high, and Bitcoin is still months away from the halvening, but markets are forward-looking and there are plenty of bullish catalysts to look forward to over the next year.

As always…

Shuffle

For those who aren’t familiar, Shuffle is a crypto-based betting exchange that has been running an airdrop program for the past few months. Shuffle has very similar offerings to Rollbit, and will likely be launching their token sometime in Q4. It probably isn’t worth farming the airdrop at this point, but people have been discussing the potential impact of Shuffle on Rollbit.

While it’s impossible to know what will happen ahead of time, there is a chance that Shuffle’s launch reignites the Gameble-Fi narrative, as a rising tide lifts all boats. Rollbit’s initial token launch saw a similar effect, and the idea of a decentralized casino passing revenue to token holders is pretty easy for people to latch on to. There are always potential issues (regulatory ambiguity, real vs fake volume, etc…), but this could be an increasingly popular narrative going into the next few months as volatility comes back.

Farms of the Week

Upcoming Projects

Fileverse (Your on-chain space for online collaboration. Write, sketch, share, and publish.)
Frame (The network for creators and collectors. Coming Soon.)
Accumulated Finance (Incentivized liquid staking & DeFi pools. Boost your yield and earn extra rewards.)
Cove (Your DeFi portfolio, simplified. Earn the best yields on-chain without the hassle of managing a portfolio.)
Memswap (Memswap is an EVM protocol for trading tokens and NFTs using decentralized market orders.)
Isekai (Coming soon to a chain near you.)