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Crypto still hurting
Crypto prices are still hurting although I'm thinking we hit bottom. Bitcoin has been bobbing around 30k. I think the liquidations that would have been triggered have already been triggered. We're a few thousand away from our recent low so there's some cushion there. But that doesn't matter much since a whole new spiral can get triggered at any time. The annoying thing was that there wasn't enough time between the last market spiral and this one to have crypto prices recover enough. But that's just the way it is.Martin Shkreli got out of prison and he's on twitter from a halfway house. Earlier his profile said he was involved in web3, although that has changed. It's very cryptic, fun to follow. He doesn't even use his own name and obviously he isn't verified so it's kind of an inside joke. Web3 and crypto is still very much the wild west attracting all sorts of villains!
Speaking of villains, Jordan Belfort, or the Wolf of Wallstreet is ... you guessed it, shilling NFTs! As if you needed any more red flags that NFTs are kind of scammy. I read some other NFT horror stories this week. One story was about a court in Singapore blocking the sale of an NFT due to a disagreement. You know what they say, not your key not your ape.
I still get annoyed how Bitcoin is lumped in with NFTs and web3 vaporware, but I can only hope that Bitcoin falls less and recovers more during all the turbulence, leaving shitcoins and other projects less and less relevant. Over the last few months I've been growing into a bit of a bitcoin maximalist. I still love the games and tech behind things like Ethereum and BSC, but I'm still waiting on something that really gets me excited. Predictions were like that but they haven't really grown or been copied since they started. It's still in "Beta", whatever that means. There's no new tokens and no meaningful competition. I guess people are making more money shilling new shitcoins and NFTs.
Action
Last week we saw a lot of volume out of nowhere. It coincided prices falling off a cliff, so I guess the fiat value didn't move much. This week we saw a pull back from volume in the games but it still high for this year.
Here's the history since v2 of the games began (red lines are stoppages).
Winners and Losers
| Place | account | games played | won | won USD | Winnings Even Money | Average bet size |
| 1 | 0xc8923536f8c1a348f15e87315740bb5933aeb4c9 | 37 | 40.83 | 12,249.0 | 1.02 | 3.48 |
| 2 | 0x75977e22f0e662c9f116b1b8a47b6941cf64deac | 227 | 38.55 | 11,564.0 | 6.4 | 1.6 |
| 3 | 0x18cbfeeb079aa7d9498a292198825fabd7b0028b | 962 | 37.53 | 11,260.0 | 77.0 | 0.41 |
| 4 | 0x4d9eded14307c78842df2d6a2e984992b3df2807 | 757 | 34.32 | 10,297.0 | 76.98 | 0.45 |
| 5 | 0xa8decb37e9a0dbde16d7d781ffa44ff1ebb84c2c | 69 | 33.74 | 10,123.0 | 12.87 | 2.12 |
| 6 | 0x7e819b4461d3e5fde382fded761b0a50fecf146e | 850 | 28.54 | 8,563.0 | 36.44 | 0.39 |
| 7 | 0xf9bdd2cca95a603c25a2e5f29ac87ae9fcfc96d8 | 653 | 27.11 | 8,133.0 | 71.14 | 0.4 |
| 8 | 0xdd8988b390e746285384c444ea086fb11f6b4dd4 | 31 | 24.39 | 7,317.0 | 1.7 | 6.87 |
| 9 | 0xdaa5d251fd234aac23a9483d4c0abc1da78cf750 | 925 | 24.23 | 7,269.0 | 46.19 | 0.44 |
| 10 | 0x98eabead9f516565903226df25a20575f7e583c8 | 682 | 23.51 | 7,052.0 | 31.46 | 0.52 |
Another unimpressive week. Our top guy took in 40 BNB, a respectable haul. But I remember seeing a 100 BNB winners regularly on the breakdown. Some algo bots had a pretty good performance but nothing to write home about.
Let's look at the losers
| Place | from | games played | won | won USD | Winnings Even Money | Average bet size |
| 1 | 0xc1f265e222c5a4b6c8c536f9cc138c648518b6ac | 201 | -358.95 | -107,684.0 | -63.24 | 4.32 |
| 2 | 0xf2baeb78c076d428dad24bf6ff52a7ba5ac16832 | 99 | -239.51 | -71,854.0 | -21.3 | 4.41 |
| 3 | 0xcf3255ce99ccce6d5e74de3007989914ec1a6439 | 46 | -91.7 | -27,509.0 | -12.96 | 6.74 |
| 4 | 0xb4c4f4350f1006d96711f7c7e04ae8f9239c89ac | 12 | -75.62 | -22,685.0 | -6.73 | 11.71 |
| 5 | 0x63844d978799754de7d4e7401e9950ad70f62405 | 496 | -55.43 | -16,628.0 | -3.74 | 2.4 |
| 6 | 0x2563e690da0b98d1d3e4d03a99d8b2a75c2a7e32 | 822 | -54.01 | -16,203.0 | -13.43 | 1.43 |
| 7 | 0x7f9f833f28ae5f5afa7a9714c9958cde3ec6f7aa | 296 | -41.22 | -12,366.0 | -14.28 | 2.05 |
| 8 | 0xbbb90a96f758ce57347137138e55151afd07f299 | 230 | -39.22 | -11,765.0 | -3.04 | 1.91 |
| 9 | 0xad483dc8c4482eafdbebbc98ea66a89e461cfbd9 | 793 | -37.42 | -11,226.0 | -43.0 | 0.74 |
| 10 | 0xaa46e2a592bd06fb640ed38cd54732fe3ba358ec | 255 | -35.85 | -10,756.0 | -5.06 | 1.73 |
I thought last week was crazy with our top loser blowing 277 BNB (over two weeks). But this week our top loser blew 359 BNB in just over 200 bets! He showed up once before on 2022-04-03 with a loss of 47 BNB. His total losses are nearly 500 BNB or $158k!
He lost the equivalent of 63 games but his bet size was very large, which means its really bad. I thought he would be up there on the biggest losers of all time, but he's not even in the top 5!
| Place | from | games played | won | won USD | Winnings Even Money | Average bet size |
| 1 | 0xc8923536f8c1a348f15e87315740bb5933aeb4c9 | 2,763 | -1,628.27 | -488,480.0 | -152.96 | 5.85 |
| 2 | 0xc46cf5e7a4d11b9f1f9c86c02ed5a7fc6a119c92 | 19,224 | -926.3 | -277,889.0 | -584.61 | 0.89 |
| 3 | 0x32a7ca42d196289518b03fbb5ecfc4f5f3505bb9 | 32,46 | -749.12 | -224,737.0 | -83.99 | 5.02 |
| 4 | 0xad483dc8c4482eafdbebbc98ea66a89e461cfbd9 | 13,637 | -711.18 | -213,355.0 | -524.06 | 1.17 |
| 5 | 0x7f9f833f28ae5f5afa7a9714c9958cde3ec6f7aa | 6,842 | -634.87 | -190,462.0 | -273.68 | 1.72 |
| 6 | 0xc1f265e222c5a4b6c8c536f9cc138c648518b6ac | 2,303 | -480.86 | -144,258.0 | -132.67 | 3.06 |
| 7 | 0x0ff14f1dbdea689e26e4fd698f80c22b627a3e9d | 3,422 | -462.78 | -138,834.0 | -115.18 | 1.43 |
| 8 | 0x41d0fd0112b038494a4e4cfdd48afef776f47214 | 13,056 | -412.85 | -123,854.0 | -241.51 | 0.79 |
| 9 | 0x5915b3bde351bc873566c868786eb4d5699d6f95 | 12,930 | -395.9 | -118,769.0 | -222.42 | 0.46 |
| 10 | 0xd7c43e980e63096e3c7c524335e692ce54614948 | 6,118 | -392.22 | -117,665.0 | -185.39 | 1.17 |
Unsurprisingly, the top losers are algo bots. The #2 largest loser doesn't even bet large! I mean, I wouldn't recommend betting 0.9, but still, its not completely crazy. Although if you're down 900 BNB, I would argue your ideal bet size should be 0.
Anyway, that's all for this week. Anyone else excited for summer?
As always, feel free to reach out with questions or comments or want my to highlight anything different on my weekly market recaps. If you like what you read and want to subscribe to receive an email when a new post is published, click here.
Good luck and bet responsibly!