🐳 What 7-figure investors are buying

GM everyone. This is 2036, the crypto newsletter that pays you.

Here’s what we’re serving up today 🍲: we snooped around to see what million-dollar investors are buying and holding right now. Here’s what we found.

Let’s dig in.

🥔 Today’s meat and potatoes

Get smarter on crypto in 2 minutes

Unless your rich uncle Larry tells you exactly what he just bought OR Warren Buffett gets forced to disclose his ownership of a business (because he owns like a gazillion % of it) - there’s no easy way to know where smart money goes:

• Private company ownership tables aren’t public

• There’s no verifiable ledger of transactions

• People buy assets through corporate entities, etc.

Crypto, however, is different.

Because blockchains are public, we can easily scan through transactions and see who owns what since when.

Every month, we do the work for you and tell you exactly where big investors are putting their hard-earned $$.

This week, we analyzed wallets worth $5-$25 MILLION.

Here’s what they’re doing with their money:

1/ Staking Ether (ETH) 🏦

Ethereum is one of the most promising projects in crypto. Here’s a good quick summary -

And ETH comes with juicy dividends: to help secure the Ethereum network, you can lock up your ETH and receive a small reward in exchange (currently ∼4%).

The biggest protocol that helps you stake is called Lido. When you deposit ETH on Lido, you receive stETH in return.

And stETH tokens accumulate rewards over time.

[Here’s a step-by-step tutorial we did on how to stake using Lido. You can start staking with as little as $10 of ETH.]

But large crypto investors are taking that stETH and putting it to work…

2/ Using stETH to borrow stablecoins that earn interest 💱

Once you have stETH, you can supercharge your interest even further.

Investors are taking their stETH and depositing it as collateral through protocols like Lybra Finance, Maker, and Aave.

This allows them to:

• borrow stablecoins like DAI or eUSD that earn interest (∼7.2% annual yield)

• borrow bitcoin

• take their borrowed funds and do anything, like -

3/ Earning rewards (“farming”) in Uniswap Liquidity Pools 💰

Liquidity pools sound complicated, but they’re not. They’re places where you deposit money to ensure people who want to trade cryptos can do it quickly.

For example, if you have both ETH and USDC (a stablecoin), you can deposit both in the USDC/ETH pool on Uniswap (a decentralized exchange) to help traders who want to exchange the two coins.

In exchange for your deposit, your receive interest.

During the last DeFi bull run, liquidity pools were all the rage. I participated in a bunch where the annual interest was 5,000% per year…

But today, most long-term sustainable liquidity pools in DeFi have interest rates varying from 5% to 20%.

You can browse some popular Uniswap pools here.

4/ NFTs are still all the rage 🖼️

Despite a massive drawdown in NFT prices, a large number of big investors still own CryptoPunks and Bored Ape Yacht Club NFTs.

But many of them also own the much lower-priced Miladys (4.6 ETH), Doodles (1.5 ETH) and Opepen (0.6 ETH)

👀

5/ But memecoins… not so much 🐸

In past editions, memecoins like $SHIB and $PEPE were very popular.

Now, it seems the hype has cooled. Investors have trimmed their positions and refocused on earning yield from the most reputable tokens and protocols like Ether and Lido.

[remember, unlike most other cryptocurrencies, bitcoin is not a project or a technology company. It’s an element, like digital gold.]

This will probably change as the market kicks into high gear again.

And of course, we’ll be here to update you along the way.

🍨 Dessert

Stories to read if you have FOMO

1/ Europe’s first bitcoin ETF goes live

2/ Sam Bankman-Fried gave $100M of stolen customer funds to politicians

3/ This week could mean good news for Grayscale

📝 Task

Earn BTC for a simple crypto task

Our next task will start this week and run for 48 hours.

So keep your eyes on your inbox 👀 

🖼️ Crypto meme of the day

From across the world wide information superhighway