Fallen Blue Chips & Soft Rugs

On the equity market side, the day was a mixed bag with the S&P being down and the NASDAQ up slightly. The Credit Suisse bank got their bailout, which led to a rally in the stock market. However, some investors are concerned that Europe is the next in line for a financial crisis from the banking system. Interest rates were very volatile, and the curve has flattened with 10 years going lower and 2 years going higher, which is inverse to the normal trend. Oil prices are steadily creeping up, which is worth keeping an eye on, and the crypto market seems to be holding decent with some altcoins moving 5-10%.On the NFT Twitter side, the community seemed rough as there was a lot of fear, uncertainty, and doubt about several projects, including Clone X in March, Doodle, and Poopie. Some investors are wary of PFP projects announcing new utility as they often end up poorly, despite any initial pump. Some investors are also concerned that Doodle's plan seems to cater to consumers instead of collectors, which can cause friction between the two groups.On the positive side, some investors see the current environment as a proper cleansing, as FOMO over the last 24 months is finally bottoming out, which is lending a platform for true growth and building. There is also talk that applied AI is going to transform the world, and the intersection of the blockchain is critical for things like security and verification in prompts and deepfakes.Voltura from Psychedelics Anonymous tweeted about potentially handing the project over to a DAO and letting them create a token, but he later deleted it and backpedaled, saying it was just an idea, a bad one. Chat GPT technology is enabling users to create whatever they want inside Oncyber, and there will be early access granted to select users to explore the new tech.Lastly, there was a partnership announced with Sorare, and a free mint was dropped by Fairxyz in celebration of the last week partnered with Rug Radio. Mint your Farokh Lisa for free, absolutely no utility but there is merch! Hosted on Acast. See acast.com/privacy for more information.https://linktr.ee/rugradio