Trading my way from zero to $10,000 on Ethereum.

$0 to $10,000

I started this project with few goals in mind:

  • Reach $10,000 by only using DeFi protocols and applications.
  • Give away the $10,000. Read the end for details.

I began in July 2020 but was limited the first few months due to abnormally high fees (gas) on the Ethereum network. Network congestion due to the DeFi boom had made it almost impossible to transact on Ethereum with small amounts of money. Eventually, with some luck and timing, I was able to turn $59.80

A mock investment memo for Dune Analytics created on 8/9/2020.

Note: BitQuery has reached out to me prior to publishing this post. Their product is similar, but unique enough to differentiate themselves from Dune Analytics. I believe both companies have high ceilings and my original thesis for Dune Analytics has not changed at the moment.

Follow me on twitter @realvivek_

Dune Analytics is an early stage startup which allows users to explore the Ethereum blockchain with SQL queries. Queries can be transformed into shareable dashboards with live visualizations.

Founded in 2018, the team consists of 2 co-founders, Fredirk…

Stablecoin growth has sky rocketed over the past couple of years. The aggregate stablecoin supply at the peak of the Bitcoin market in late 2017 was under $1.5 billion. Today the aggregate supply is over $9 billion spread out over various networks, not just Ethereum. The demand for stablecoins has further increased since the “Bitcoin Black Thursday” sell off on March 12, 2020. The growth has been so large that stablecoins on Ethereum account for more than 70% of the daily transfer value on the Ethereum network. …

Decentralized finance, or DeFi, has been growing at an outstanding rate since late 2017. The majority of these protocols are built on the Ethereum network and continue to dominate its gas usage. These DeFi protocols enable lending, derivatives, exchanges, gambling, and payments without a central authority (or that’s the goal). The emergence of DeFi in late 2017 and into 2018 has, in my opinion, saved the Ethereum network by giving it a second mainstream application outside ICO’s (the first being stable coins). Many, if not all, of these DeFi protocols are currently centralized in some way or another with the…

Crypto twitter has become saturated with automated scam and spam bots over the past two years. The majority of these “bad” bots stemmed from the rise in Ethereum ICO popularity in mid 2017. The team at Duo Security published an excellent report on the anatomy and scale of these of bots. While Twitter has been working on this problem, as many as 15,000 bots have been found in the August 2018 report. To add to this mess, crypto twitter is flooded with fake accounts ran by bots pushing referral and phishing links as well as automated engagement (see XRP).


90 day correlation graph from Sifr Data

Cryptoassets are highly correlated. On a macro level, one can expect the overall cryptoasset market to generally move in tandem with Bitcoin. Correlations of daily returns between cryptoassets and Bitcoin have been increasing since January 2017. From this period forward, the overall market has been tightly bound together despite the altcoin, ICO, and fork mania that has taken place over the past year and a half.

This upward trend in market correlation typically doesn’t bode well for investors and funds looking to reduce risk with portfolio diversification.

Money flow in the past 24 hours from

4/18/20: I have created a dashboard with the latest, most accurate cryptocurrency resources for data, visualization, and APIs. Bookmark it at

Follow me on twitter @realvivek_

Cryptoasset valuation is a fairly new and iterating practice. Investors often have strong and varying opinions on how to value projects in the emerging asset class. The assets are constantly under experimentation and development, making a fixed model methodology challenging. Traditional market indicators such as market capitalization and supply are often flawed or manipulated. …


Twitter @realvivek_ \\

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