Phenom Alpha

THE MAJORS VS. THE REST! 🚀

Are you a crypto newbie or a die-hard enthusiast? Either way, the current volatile market might have you questioning where to park your investments. While we all want to scoop up the next 1000x alt coin, lets be honest, its hard. Unless you are spending a lot of time deep diving all the new projects launching or paying professionals (like our premium subscribers) to do it for you, you may be better off in the long run sticking to the tried and true big players. Lets dive into some of the reasons below.

1. The Crypto Battlefield: As crypto liquidity dries up, it's becoming a "Player vs. Player" game. Simply put: one person's gain is another's loss. Bewildered by the altcoin maze? The safety net of Bitcoin (BTC) and Ethereum (ETH) might be your best bet. And, if you're itching for action, consider staking your ETH.

2. The Hard Truth: Most altcoins won't beat BTC or ETH. Want proof? Look back at 2019. Only 15 of the top 200 crypto projects outperformed ETH. Why? Many projects fizzle out. Crypto isn't just capitalism; it's capitalism on steroids.

3. Learning from History: 2019's bear market might give us clues about today. Back then, BTC was at just over $8K, ETH below $200. Bitcoin forks BCH and BSV were in the top 10. Tempted to pick them up? But here's the twist - a huge chunk of 2019's top projects didn't even make it to 2021's list. The lesson? Projects come and go, but BTC and ETH have stood the test of time.

4. Today's Reality Check: Sure, there are more genuine crypto projects now than in 2019. But how many of today's top 50 will thrive years down the line? Only BTC and ETH have consistently shown growth over cycles. While the "low-risk" crypto list might expand, we're not quite there yet.

5. Peering into the Future: The next bull market winners might not even exist yet. It's crucial to keep your options open and not put all your crypto eggs in today's basket.

6. Got an Altcoin Gem? Great! But remember: altcoin terrain is treacherous. Teams change, roadmaps evolve, and markets shift. Stay involved, but don't get emotionally attached. If in doubt? You guessed it - stick to the majors!

Bottom Line: While chasing the next big thing is thrilling, it's essential to know when to play it safe. As the saying goes, "When in doubt, stick with what's tried and true!" 🚀🔥📈

BlockBuzz™️

Quick Hitters from the week

•  Crypto & Nepotism: FED points fingers for Silvergate Bank's crash.

• Musk on Money: Labels fiat currency a "scam".

•  McHenry's Move: Crypto-ally steps up as interim House Speaker post-McCarthy drama.

•  SEC vs. Coinbase: Regulator pushes back, wants lawsuit to stay.

•  Ripple's Legal Rollercoaster: Judge Torres shuts down appeal motion.

•  Celsius Ex-CEO's Date: Mashinsky's trial locked for Sept. '24.

•  Ripple's Singapore Score: Bags MPI license for digital asset services.

•  ATMTA's Open Door: Game devs get a peek into Star Atlas tools on Solana.

•  Circle's Big Reveal: USDC issuer to sync with Noble's Cosmos token at Cosmoverse.

•  Deutsche Bank Drama: Merges, messes, and eyes crypto amid BaFin's watch.

•  Art Meets Crypto: Ledger & Sotheby’s craft exclusive perks for digital art buffs.

•  Binance Bulletin: BUSD lending to halt by Oct. 25.

•  Optimism's Tech Leap: Fault proof goes live on testnet.

•  Unchained's Growth Spurt: 37% YoY surge in Bitcoin secured by its custody.

The Twitterverse

A collection of the most interesting stuff on Crypto Twitter this week

SBF Trial Watch

Stay up to date on the trial.

USA vs. Samuel Bankman-Fried: Day 2 Quick Scoop! 🏛️

• French investor and ex-FTX developer testify.

• Alleged “secret ability” in FTX code: Move funds to Alameda? 🕵️

• Defense's take on SBF? Just a "math nerd" who's no party animal.

• Scaramucci's forecast: Trial might stretch till Christmas 🎄, defying the 6-week court estimate.

• DOJ & SBF's squad still hashing out arguments. Stay tuned! 🔍🚀

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