GM, this the Yellow Dip (Twitter) - We're your standing desk. Keeping you aligned, balanced, and focused.

On our agenda, today we have:

• Quick dips

• WazirX shuts its shop, but why

• Yellow Dip Crypto Portfolio - How we picked crypto to invest 🚀

Quick Dips

WazirX shuts its NFT shop, here's why

Hey, remember how we talked about Opensea's zero fee experiment last week? Well, we have an update on WazirX, one of the top cryptocurrency exchanges in India.

So, in April 2021, WazirX launched an NFT marketplace to help Indian creators sell their digital assets. Unfortunately, the platform failed to gain significant market share or support from the Indian NFT community. As a result, WazirX had to shut down its NFT platform.

This isn't the only issue that WazirX has faced lately. They also had to lay off 50 employees, and the regulatory environment in India has made it tough for entrepreneurs to innovate sustainably. To make matters worse, WazirX and Binance have been fighting over a failed takeover of WazirX's holding company, Zanmai Labs.

It's probably best for WazirX's management to focus on resolving these internal issues before expanding into new revenue streams. Although the NFT market in India is struggling, we can remain optimistic that it will recover soon.

The NFT market has grown massively worldwide, with sales exceeding $10 billion in 2021. India, with its vast population and tech-savvy workforce, has the potential to become a major player in the NFT market. However, as WazirX's experience demonstrates, building a successful NFT platform takes more than launching a marketplace. It requires time, effort, and a supportive regulatory environment to create a thriving NFT ecosystem.

In conclusion, setbacks are a common part of business, and companies must adapt to change to succeed in the long term. Although WazirX's NFT platform didn't succeed, we can learn from their experience and keep striving for success.

Yellow Dip Crypto Portfolio - How we picked the coins? 🚀

Hey, we're starting this section to motivate those of you who are new to the space. We'll show you a trade that we made successfully. It might make you feel jealous or uncomfortable, but it could also motivate you to learn more with us. And even if we don't make money some weeks, we'll still share our thoughts with you.

GRAIL

Entry Price - $250

Trade position - Sold 80% at $1300. Holding rest equal to starting position.

Monday Price - $2,250

Grail is a newly launched DEX on the Arbitrum layer 2. (DEX = Decentralized Exchange). They basically help you trade tokens without a KYC unlike a centralized exchange. - There are 100s of Dex already listed in the market, what made this opportunity unique?

• We caught this early

At our entry, Market cap of token was measly $3 mn. This is small in comparison to Dex on other chains. (Comparable Marketcap analysis)

• Arbitrum

Arbitrum is a leading Layer 2 blockchain designed to scale Ethereum. We were looking at a chain which was seeing tons of volume. It has support of Ethereum founder Vitalik, and is getting a lot of interest from developers in terms of building projects on chain.

• Noise

There was no previous noise behind the token and team, which is good if you want things cheap. If the ‘twitterati’ already knew what we knew, we would have had to pay up a lot to make my first buy.

During the coming bull run, there will be plenty of investible projects which will be able to scale well and will be reasonably priced. BUT, most of the other tokens will turn to "shit" or zero. There is a whole category of coins named shitcoins just for this. The skill is separating the wheat from the chaff.

We will soon enough figure out a way of sharing alpha to the community so they can ride this highly rewarding journey with us.

Yellow Dip Portfolio Performance

This is how our starter's portfolio is performing, with our low-medium risk goal.

Our Portfolio : 49.21%

BTC 36% and ETH 41% during same period

😂

That's it for today. Stay curious & see ya next week! We hope you learned something new.

As always, feel free to share your thoughts and feedback, and don't forget to share our hard work!

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DISCLAIMER: This newsletter is strictly educational and is not an investment advice to buy or sell any assets or to make any financial decisions. Please be careful and do your own research