As a cryptocurrency investor, you’ve most likely filled your portfolio with a variety of cryptocurrencies that have delivered profits over the years as well as investments that haven’t gone as well as you had expected. For instance, if you’ve bought cryptocurrencies to hold at the height of last year’s crypto bull run, you might be neck-deep in losses, considering the crypto market lost over $2 trillion in value in a matter of weeks.
And it’s not just retail investors and cryptos that have taken a beating – some of the biggest crypto hedge funds, VC firms, and investment platforms have filed for insolvency in 2022, with their founders on the lam from legal enforcement and Interpol red alerts. This confounding set of extreme market conditions has led crypto investors into a frantic search for projects they can hedge their dwindling portfolios with – until now.
Enter Flasko – a protocol being built as the first alternative investment platform operating in the multi-trillion dollar luxury wines, whiskeys, and champagnes sector. Flasko offers the opportunity all crypto investors have been waiting for – namely, a chance to invest at the earliest stages of an investment platform backed by real-world utility, asset backing, and serious potential for parabolic growth in the coming years.
Flasko: invest with a first-mover advantage in rare wines and spirits
It’s no secret that successful cryptocurrency investors buy into emerging blockchain protocols at the earliest opportunity. Flasko offers them the exact same opportunity. With presale prices starting at $0.04, there’s plenty of room to grow. Flasko is tipped by crypto analysts to be the next big opportunity in the crypto space, considering its first-mover advantage in a highly lucrative niche.
Invest into luxury whiskeys, wines, and champagnes via NFTs with real asset backing
Flasko will develop the first investment platform enabling investors to buy into whole or fractional bottles and casks of the most highly sought-after luxury wines and whiskeys in the market enabled by non-fungible technology. Best of all, they can have their real-life assets – the physical bottles represented by their NFT holdings – delivered straight to their homes.
Flasko will also work with startup companies in the premium high-end wines sector and help shore up their operations and logistics to distribute their products in new markets, while Flasko holders get exclusive access to the latest luxury wines and get industry discounts.
A stable fully audited, and sustainable launchpad ready to moon
Flasko is a cut above any other presale phase project out there. The developers behind Flasko are demonstrating their confidence and belief in the platform’s long-term viability by locking the platform’s liquidity for over three decades. Flasko investors will have the peace of mind to invest with a protocol fully audited by Solid Proof.
The best gains to be made in crypto are by investing early into projects that offer real-life utility, backed with tangible assets, with a tried-and-tested roadmap to ensure its future success. Not by chasing meme token pumps.
Flasko is a rare opportunity to invest in a platform at the forefront of alternative investments in rare wines, whiskeys, and spirits – with exponential potential to fulfill.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
