Delphi Office Hours Call (April 6th, 2022)

Below is a recording and transcript of the Office Hours call our team did on Wednesday, April 6th, 2022.

Highlights included:

• Markets (0:50)
• Aku Dreams (3:48)
• Maple Finance (7:14)
• PlayFi (11:30)
• Q&A (16:42)

Full slides are viewable here.

Delphi Office Hours
April 6, 2022

00:00 · Nick

All right, thanks everybody for tuning into today’s Delphi Office Hours. The date is April 6th, 2022, and we’ve got an exciting agenda today. We’ll of course talk about the latest with the markets. We’ll touch on Aku Dreams, an exciting NFT and IP ecosystem. We’ll touch on Maple Finance, a bright spot in lending right now. And we’ll finish with some new thoughts on PlayFi. And as always we’ll finish with some Q&A. I want tonote we had some technical difficulties today, so no video. But we’ll be continuing to do these Office Hours calls in Discord. So without further ado, maybe I turn it over to Jason to talk about what we’re seeing with bitcoin.

00:51 · Jason
…We expect there to be some kind of pullback. We mentioned in our flash note that eight consecutive days of Bitcoin gains is somewhat of a price anomaly. It only happens 1.3% of the time. Usually, the next several days afterwards are followed up by either negative returns or neutral to flat returns based on consolidation or pullback, as we were just saying. Where can we expect bulls to defend? Our first level, as we’ve been mentioning, right now is roughly that $44K. You want to see $42K to $44K hold as that’s the high end of the price range for the 2022 range so far. Assuming you hold that high, like that $42K to $44K, it’s an objectively higher low, you’re holding above a ton of sellers over the last three to four months, and…

01:03 · Jason
…It likely places bulls in a good situation. However, if you start to lose $42.5K and start to fade back down into $40K, you’re firmly back in the 2022 price range and then auction market theory or people who follow things like this would typically say, “If you failed to break out of a range and then start trading back within the range, expect to go test the other side of that again,” which would roughly be $35K-$36K. Pretty much as long as we’re holding above the midpoint of the 2022 range, which is like $40K, I think things look decent. Once you start losing that, expect the range lows to be tested again – that is my operating procedure at the moment. What does that mean for Q2 going forward? Historically, April is actually the best month for risk assets,…

01:56 · Jason
…As you can see here going back 30 years of data for the S&P500. In addition to that, Q2 is often one of the best performing quarters of the year for risk assets as well. To add a little more color to that, some of the best Q2 performances occur after bad Q1s like we just had. Risk assets look poised for a move higher in the short to mid-term. However, there’s still a lot of uncertainties on the global scale, right? We still have a war in Ukraine. There are still uncertainties around energy and commodity prices as well as rising inflation concerns. In general, I think it’s prudent that weigh these uncertainties and risks associated as well as recognizing that there is a decent setup for risk assets into Q2.

03:34 · Nick
Great, fascinating stuff. Yes, especially given the choppy markets recently, maybe that’s something to look forward to. Shifting gears, we have a Teng on the line to talk about Aku Dreams.

03:45 · Teng
Hi everyone.  If you’ve been following some of our research, especially our NFT Insights Reports, you know we’ve mentioned Aku a couple of times before. At Delphi, we love Aku because it shows what is possible when visionaries and communities unite. Aku is very much the brainchild of Micah, a former pro baseball player turned into artist and builder. Aku is a digital explorer who is on a mission to prove that there’s really no dream that’s too large, really taking reference from Micah’s own life story, which is extremely comp