40 Burst results for "Solana"
The Bitboy Crypto Podcast
A highlight from ATB: Did Blackrock File XRP ETF(HUGE Volatility)
"Charles wants Hoskinson to create a settlement future and system for Kraken. Will Jesse Powell take the bait? This is Around the Blockchain. Hey, thank you for joining, everybody. Make sure you go ahead and hit that like button because we got three phenomenal guests on today. We got Thinkin Crypto holding it down. Thinkin, Tony, how are you doing today? I'm doing great. It's great to be on. Oh, it's always a great day. Also, it's a great day for Moon and Papa. Moon and Papa, we just had the full Moon. Do you get extra powers during the full Moon? No comment. No comment. Hey, you know, was that you in that Thriller video? Also on today, live from the White House, he's taking Commander's spot. It is Patrick. Patrick, how are you doing today? I'm doing great. I'm happy to be here. I am, in fact, part of the ops now live from the White House, like you said, so we'll see if I can't spill the beans on some stuff. And when I said taking the Commander's spot, I meant the dog commander, not, of course, the CIF. But everybody, let's talk about Solana first. Grayscale's Solana, we have a huge premium, everybody. Some are saying this is front running the pump here, but it exploded to $202 for Grayscale Solana Trust. This is what you can buy on exchanges. If you are a Wall Street investor, you're probably not going to use Kraken or Coinbase. You're going to want to use a entity like Grayscale. Well, each of these shares has a little bit of Cardano within it, about 0 .3 or so. Well, this price is way, way higher, everybody. It looks like we're trading at a very high premium at 869 % premium. So when you do the share, and what that is trading relative to Solana's price, almost a 900 % premium people are paying here. At the time of trading, we're also seeing low prices and high premiums for Grayscale's Chainlink Trust. The Chainlink Trust, a 250 % premium. BioCoin, 900 % premium, close to Solana's premium there. But meanwhile, Solana, still down 80 % from the all -time highs. Now, thinking crypto, I want to ask you, you know, these Wall Street traders, I thought they were smarter than us. I thought they knew how to out -trade us. Then why are they paying a 900 % premium if they're so smart? Man, maybe they know something we don't, and that is maybe that Altcoins will continue to move up with Bitcoin. I think Bitcoin still has a leg up, and we know the liquidity flows from Bitcoin after it hits its overbought scenario, and then the alts pop off. Obviously, Solana and Chainlink have been pumping, so I think they know something. They know, you know, these VCs have been pumping Solana, and I think they see a higher upside, but that premium is, you know, ridiculous.
Tech Path Crypto
Fresh update on "solana" discussed on Tech Path Crypto
"First of all, two things, 50% first time investors, self-identified as first time investors. That's a big deal. But customers on the platform also self-identify as women. This is one in three. That's huge because now we're bringing in a whole new, I think, investor class with females coming into the space that we were missing in a lot of the early stages. And with that, I think we'll see a large amount of follow on investors because even though with crypto, I don't necessarily call them crypto bros, but the male investor, yes, you get groups that will cycle together. But once a female gets into it, her friends will know it, all those. So you may end up seeing a lot of influence in the female sector overall playing into maybe going into Robinhood as one of the key areas. Another pivotal date you want to pay attention to, which is also crucial obviously because of Coinbase lawsuit, is this whole issue around the legality and what is a security, what is not a security. That may line up with right timing with Robinhood also going out into the UK and then maybe the SEC losing against Coinbase and possibly us seeing a absolute run on altcoins in the market coming ahead. So a lot could happen there. This was just a tweet in terms of John Deaton's, that January 17th date, which is very, very important. Think about that. So let's go over to Robinhood right now, take a look at what is currently held. You see Tesla in there, Amazon, AMC, GameStop. So also Meta, Microsoft, Nvidia. These are majors. And of course, this is the traditional, I'd love to see this in the bubbles within the crypto market, which obviously we'd see Doge I think is one of the key players out there along with Ethereum. But the point is, is that this is a certain style of investor. And that is the interesting thing that could cause a massive run of adoption around where Robinhood but also crypto in general are going to be going in the little bit of a new age of crypto investing. Don't forget a couple of things happened with Taylor and Beyonce. Two issues is this is more of these concert style movies, both of which hit number one. That's very unique. And of course, this was AMC. And I think one strategically was a good thing. So if you guys haven't checked out our latest video, we did a full video around Taylor Swift, possibly around tying into ticketing and could she maybe lead a massive cadre of Swifties into crypto? And if they did come into crypto, what would be the platform they would choose? Could it be going the route of a Robinhood? The type of potential investment projects they might go into could be perfect for Robinhood. So check, by the way, if you haven't checked out the video, go check out the video, just Solana payments updated, Taylor Swift incoming. Take a look at that one. All right, last up here are kind of following along with the psychology of GameStop holdings and the way that a Robinhood investor goes, then you look at GTA 6 launching. And this is a big deal because if they do something even remotely close to AI, NFTs, which is maybe a very small factor, AI most likely, but this could also cause a massive surge, again, back into Robinhood, which will increase fees, possibly increase what we'll see in terms of overall traction. Make sure and check out, of course, our, or if you're not following, make sure and check out what Grand Theft Auto is going to be releasing tomorrow. So that could be big news for sure. Couple of points I wanted to hit on here that kind of showcase if Grand Theft Auto were to drop anything like a meta bomb. And what I mean by that is when meta launched into, I won't call it crypto, but into the idea of the metaverse, what happened was is it gave birth to a whole new industry of gaming, AR, VR. I think all of that was birthed off of that moment. And if you look at this, when it occurred, this was back in October of 2021. And right here is this run-up. That was the announcement from meta and then boom, within a month, month and a half. Remember, this was toward the end of the last bull run, but the intriguing thing is that period of time. And I mean, technically you could say that that run really lasted from October 28th till right here, which was December 28th. So a two month run on the overall growth of an emerging market. And that could be the thing that could spur on from what is happening here on Grand Theft Auto. So interesting thing. Now with that being the case, the key would be, here's of course a total three on taking a look of the total market cap, excluding Bitcoin and ETH. But in general, if you look at the altcoins right now, this is the area we have been struggling to break, and we are right on it right now at around $430 billion overall as a market. If it does hit, that is the run point for altcoin season to begin. So right now, $421 right now. So we need a little bit to get going here. But again, this could be a catalyst that kind of takes us in to that next level. Bitcoin, just as a quick run, still starting to push up. We're at $41,949 as we film this right now. Is $42K in the cards just here in a bit? Looks like it's going to break it right now. I'd love to get you guys' feedback. The market seems to be very heated up. Is the $42K going to be a potential retrace, or is this the window that everybody's been looking at to $50K? Let me know. Smash the like button. Give us some insights down in the comments below. If you're not part of the Diamond Circle, make sure and get in right now. It's another additional way for you to get more content. We do our Web3 Gaming podcast over there with Kyle. We also do an additional podcast. More analysis that do not make it here on YouTube. If you guys want to follow me on X, it's at Paul Baron. We'll catch you next time right here on Tech Path.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Rising Venture Capital Investment in Crypto
"This episode of Markets Daily is sponsored by CME Group and PayPal. It's Tuesday, November 14th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto as Macro Now newsletter on Substat. On today's show, we're talking about new inflows into the crypto ecosystem, inflation, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto prices were heading down earlier today, but then we got some good news on the US inflation. I'll talk more about this in a moment. This has turned the mood around, with many assets clawing back some of the day's losses. According to CoinDesk indices, at 9 a .m. Eastern time today, Bitcoin was trading at $36 ,546, down almost 1 % over the past 24 hours, although up 1 .5 % over the past hour alone. Ether was trading down 0 .75 % over the past 24 hours at $2 ,043. Elsewhere, Cosmos, Filecoin, and the Lido DAO token were down 9%. Solana and Polkadot were down 3 .5%. Ripple's XRP token had an interesting day yesterday. A tweet reported that BlackRock had filed for an XRP trust in Delaware. This was taken as a sign that the asset manager was planning to file a proposal for a spot XRP ETF, and the asset jumped 12 % in just a few minutes. The news turned out to be fake, however. I mean, it's very, very unlikely BlackRock would file for an ETF based on asset that not only doesn't have a CME derivatives market, but is still in active securities litigation. Needless to say, the XRP price corrected sharply shortly after, with both moves triggering significant losses in derivatives positions. Earlier today, XRP was still up over the past 24 hours, but only around 1%. In macro indicators, the US inflation data for the month of October is in. And it came in soft, which is very good news. To recap, in September, the headline CP index increased by 3 .7%, and consensus estimates for October pointed to a 3 .3 % increase. That itself would have been good. But the number came in even softer, at 3 .2%. Even more relevant for the US Federal Reserve is the Core CPI index, since this strips out the volatile components of food and energy. In September, Core CPI jumped by 4 .1 % year on year, and expectations were for that rate of increase to hold steady in October. The actual figure came in at 4 .0%, the smallest increase since September 2021. According to the Bureau of Labor Statistics, shelter accounted for the bulk of the increase in the Core Inflation Index, but much less so than expected. And it seems lower energy prices are also doing their bit. On a monthly basis, Core CPI grew by 0 .2%, less than expected. This brings the three -month average monthly gain down to 0 .3%, lower than last year's average of 0 .5%. The average needs to come down further to give the Fed some breathing room, but it is progress. A US rate hike at the December FOMC meeting was unlikely anyway, given market tension, geopolitical fragility, and the likelihood of a government shutdown starting this weekend. This release now takes that totally off the table. As we head into record, US yields are heading down fast, with the 10 -year Treasury yield plummeting as investors were holding their breath for the inflation report. The good news in the figures has given the market a jolt of energy, with futures pointing to a very strong open. European indices were more positive yesterday, with the FTSE 100 up 0 .9%, the German DAX up 0 .6%, and the Euro Stoxx 600 up 0 .75%. The US figures are extending this trend for the DAX and the as investors digest the UK cabinet reshuffle. In Asia, stocks were cautiously positive today, with both Japan's Nikkei index and China's Shanghai Composite climbing 0 .3 % and the Hang Seng losing almost 0 .2%. In commodities, oil continues to head up, despite a report out this morning from the International Energy Agency that insists global oil markets won't be as tight as expected this quarter. The agency recognizes that demand is growing, as OPEC said yesterday, but non -OPEC supply apparently is growing even more. The market doesn't seem convinced yet, however, and the Brent crude benchmark is up 0 .4 on the day, trading at $83 .67 a barrel. After falling more than 1 % yesterday, gold today is benefiting from a drop in the $DXY index, as US yields digest the good inflation figures. Earlier today, gold was trading up over 0 .5 % at $1 ,956 per ounce. Stay with us. After the break, we're going to talk about new crypto investment.
Tech Path Crypto
Fresh update on "solana" discussed on Tech Path Crypto
"And if you think about that flight of safety, crypto in general, Bitcoin, ETH in general, moving to Robinhood, especially by new investors or even people who just want to maybe put it in a place they feel is safe. And this is, of course, a publicly traded company just like Coinbase. So I think that, of course, was part of it. If you think about the impact that Robinhood has on the markets, this is a good example. This is just a chart from Solana. And this was the date that Robinhood delisted Solana because there was a run up to it. It was back in June of this year. And you saw basically almost a 40% drop in Solana in that period of time, basically over just a handful of days because of the only thing that was instrumental in that time was a delisting by Robinhood in general. Now, sure, Solana regained, went to a nice $28, which was one of the pivotal points for Solana in general. But if Robinhood comes back in and relists Solana, along with other tokens that also were delisted at the same time, we could see an interesting bump. If you look at what's happening over here at Cathie and ARK Investments, one of the things that you got to look at, there's Coinbase, number one position. But if you also look further on down, guess who's there, Robinhood holding in. And remember, there's a little bit of a shift right now in terms of some of her trades. Here's the Coinbase trade right now. Or no, this is the Robinhood trade right now, slowly going up. And if you look at Coinbase right here, Coinbase slightly adjusting down. Now, maybe she's taking profits, but or is she saying, wait a minute, I'm getting ready for what could be a very active season within Robinhood. This could really start to take Robinhood. But remember, Robinhood was in a really good buying position overall over the past couple of weeks when they had turned in their last earnings. So it was an interesting point. The other thing that's kind of interesting right here that I found intriguing with Robinhood, because this is one of the categories that is absent in general investing today, especially in crypto, is right here.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | Rising Venture Capital Investment in Crypto
"This episode of Markets Daily is sponsored by CME Group and PayPal. It's Tuesday, November 14th, 2023, and this is Markets Daily from CoinDesk. My name is Noelle Acheson, CoinDesk collaborator and author of the Crypto as Macro Now newsletter on Substat. On today's show, we're talking about new inflows into the crypto ecosystem, inflation, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now, a markets roundup. Crypto prices were heading down earlier today, but then we got some good news on the US inflation. I'll talk more about this in a moment. This has turned the mood around, with many assets clawing back some of the day's losses. According to CoinDesk indices, at 9 a .m. Eastern time today, Bitcoin was trading at $36 ,546, down almost 1 % over the past 24 hours, although up 1 .5 % over the past hour alone. Ether was trading down 0 .75 % over the past 24 hours at $2 ,043. Elsewhere, Cosmos, Filecoin, and the Lido DAO token were down 9%. Solana and Polkadot were down 3 .5%. Ripple's XRP token had an interesting day yesterday. A tweet reported that BlackRock had filed for an XRP trust in Delaware. This was taken as a sign that the asset manager was planning to file a proposal for a spot XRP ETF, and the asset jumped 12 % in just a few minutes. The news turned out to be fake, however. I mean, it's very, very unlikely BlackRock would file for an ETF based on asset that not only doesn't have a CME derivatives market, but is still in active securities litigation. Needless to say, the XRP price corrected sharply shortly after, with both moves triggering significant losses in derivatives positions. Earlier today, XRP was still up over the past 24 hours, but only around 1%. In macro indicators, the US inflation data for the month of October is in. And it came in soft, which is very good news. To recap, in September, the headline CP index increased by 3 .7%, and consensus estimates for October pointed to a 3 .3 % increase. That itself would have been good. But the number came in even softer, at 3 .2%. Even more relevant for the US Federal Reserve is the Core CPI index, since this strips out the volatile components of food and energy. In September, Core CPI jumped by 4 .1 % year on year, and expectations were for that rate of increase to hold steady in October. The actual figure came in at 4 .0%, the smallest increase since September 2021. According to the Bureau of Labor Statistics, shelter accounted for the bulk of the increase in the Core Inflation Index, but much less so than expected. And it seems lower energy prices are also doing their bit. On a monthly basis, Core CPI grew by 0 .2%, less than expected. This brings the three -month average monthly gain down to 0 .3%, lower than last year's average of 0 .5%. The average needs to come down further to give the Fed some breathing room, but it is progress. A US rate hike at the December FOMC meeting was unlikely anyway, given market tension, geopolitical fragility, and the likelihood of a government shutdown starting this weekend. This release now takes that totally off the table. As we head into record, US yields are heading down fast, with the 10 -year Treasury yield plummeting as investors were holding their breath for the inflation report. The good news in the figures has given the market a jolt of energy, with futures pointing to a very strong open. European indices were more positive yesterday, with the FTSE 100 up 0 .9%, the German DAX up 0 .6%, and the Euro Stoxx 600 up 0 .75%. The US figures are extending this trend for the DAX and the as investors digest the UK cabinet reshuffle. In Asia, stocks were cautiously positive today, with both Japan's Nikkei index and China's Shanghai Composite climbing 0 .3 % and the Hang Seng losing almost 0 .2%. In commodities, oil continues to head up, despite a report out this morning from the International Energy Agency that insists global oil markets won't be as tight as expected this quarter. The agency recognizes that demand is growing, as OPEC said yesterday, but non -OPEC supply apparently is growing even more. The market doesn't seem convinced yet, however, and the Brent crude benchmark is up 0 .4 on the day, trading at $83 .67 a barrel. After falling more than 1 % yesterday, gold today is benefiting from a drop in the $DXY index, as US yields digest the good inflation figures. Earlier today, gold was trading up over 0 .5 % at $1 ,956 per ounce. Stay with us. After the break, we're going to talk about new crypto investment.
Unchained
Fresh update on "solana" discussed on Unchained
"Okay. Yeah. And how do you think about like the potential for kind of this new client with a new team creating the potential for like consensus forks or just other issues? That's part of the challenge, but like obviously Ethereum was able to figure out how to run with four clients. Like it's, it's an engineering challenge. We're all smart engineers. Hopefully, hopefully we catch these bugs. You know, there's a lot of folks testing and figuring this out. I'm hoping that they'll catch all these bugs before Mainnet, but you never know, but it's much, much safer to have multiple clients because then catastrophic bugs become liveness failures. And those are really unfortunate and embarrassing. And you'll people yell at me on Twitter about it. It's not as bad as a catastrophic failure. Yeah. Yeah. I mean, it's, it's definitely a good thing to have, but you're right. That implementation is, is it's tricky. All right. Well, Anatole, is there anything I didn't ask you about that you would want to mention? Oh man. I think we covered a lot. You know, I don't know. Yeah. We've covered everything. I'm pretty excited. Like seeing during this breakpoint, how many product launches we had, I think there were close to like almost 50 different product launches from different teams across the ecosystem. And that's to me is like the biggest signal that people are building stuff because you need products to attract users and like that, that whole cycle is moving forward, which is really, really cool to see. Great. All right. Well, where can people learn more about you and Solana? You can follow me on Twitter. I'm but you can go to Solana.com and learn all about Solana.Perfect. Well, it's been a pleasure having you on Unchained. Thank you. Thanks so much for joining us today. To learn more about Anatole and the state of the Solana ecosystem, check out the show notes for this episode. Unchained is produced by me, Laura Shin. We'll get from Kevin Pukes, Matt Pilchert, Juan Aranovich, Megan Gavis, Nelson Wong, Shashank, and Margaret Curia. Thanks for listening. Unchained is now a part of the CoinDesk Podcast Network. For the latest in digital assets, check out Markets Daily seven days a week with new host Noelle Acheson. Follow the CoinDesk Podcast Network for some of the best shows in crypto.
Cryptocurrency for Beginners: with Crypto Casey
A highlight from Crypto Wallet How to Transfer Crypto from Exchange (Tangem Wallet 2.0 Review ) New Features!
"We are going to become our own bank, our own security system. We are going to 100 % own and have complete control over our digital assets like Bitcoin, Ethereum, Altcoins, and other cryptocurrencies and NFTs all in less than 90 seconds right now. This is the latest version of Tangent Wallet, a multi -currency, multi -chain cryptocurrency wallet that is the size of a credit card, the most affordable cold storage hardware wallet, and extremely easy to set up and use. Check it out. Opening the box here, we have the three cards with a new sleek matte black design. Next, installing the correct and official Tangent Mobile app on our phones and opening the app, tap Scan Card and touch one of the cards to your phone like so. Next, tap Create Wallet and tap the card to your phone again. Nice. Now that we have a wallet, let's create backups of it. Tap Backup Now and then tap Add a Backup Card and tap the second card to your phone. Cool. Now tap Add a Backup Card again and tap the third card to your phone. Then tap Finalize the Backup Process. And now we need to create an access code to secure the wallets. Tap Continue and then type in whatever word, phrase, numbers, or combination of text you want to use to access your wallet. Re -enter it to verify the access code and then scan the primary card ending in the corresponding numbers on the screen that matches that card, holding you up to your phone until the operation is complete. Then repeat this process for the two backup cards. Sweet! Now your Tangent wallet has been configured and is ready for use. Now we can continue to the wallet, check out the mobile app, learn how to use it safely and securely, and then move some crypto to it. Hello, I'm Crypto Casey and in this video we are going to go over the new features of Tangent's latest wallet and how we can transfer crypto off of exchanges to completely own and control it with this cold storage hardware wallet. Let's hit it! Here is Tangent's original wallet we fully reviewed together on the channel, which you can check out by clicking on the link above. And this is their latest sleek matte black design with some interesting new features. Side by side, both cards are the same shape and size, however the new one is more sturdy with some nice weight to it. Tangent compiled a list of the most requested features by users and implemented them in their new Tangent wallet card. One of the main differences being three different options for private key generation versus only one. So in addition to using the certified true random number generator, TRNG, which generates and stores the keys inside the card's chips, where neither Tangent nor anyone else can see what it is and no copies exist in space and time outside of the Tangent wallet cards. Now with the new wallet cards, we have the option of generating a seed phrase with the Tangent mobile app and importing it to the cards, and also the option of importing an existing seed phrase from another wallet. Cool stuff. So it's important to note that if we create the wallet without the seed phrase option, generating a seed phrase will not be possible later. So we need to carefully consider the pros and cons of each option and decide which one we are most comfortable with long term. Tangent creates a seed phrase through their app on your phone, a hot device connected to the internet, which is not ideal if your phone has malware on it has been compromised or similar. So if we do decide to create a seed phrase for our Tangent wallet, or if we decide to import a seed phrase from an existing wallet, consider disconnecting from any Wi -Fi networks and switching your phone into airplane mode to make sure the process is more secure. Do not take a screenshot of the seed phrase. Instead, write it down on a few pieces of paper to store securely in different locations in case of something like a fire, flood or similar, and then get something more durable than paper immediately for the long term. There are some great offline options for storing the private keys like the crypto steel capsule solo offered by Ledger. This is a solid steel capsule to protect your seed phrase designed to resist extreme conditions. And the BILFODL also is offered by Ledger. BILFODL is a solid steel case to store and protect your seed phrase designed to resist fire, water and more. With cold wallets like Ledger and Trezor devices, the creation of the 12 or 24 word seed phrase is done offline, which is more ideal and secure. However, vulnerabilities and security risks are still present because, as we've discussed in several videos on the channel, if anyone has access to your seed phrase, like if they came across them written on a piece of paper or had access to a Ledger crypto steel capsule or BILFODL with the seed phrase, or if you stored it on a device that can be hacked like your computer, cell phone, or if a scammer tricks you by pretending to be Ledger, Trezor or similar, sending you a fake email or directing you to a fake site and instruct you to give them your seed phrase by lying and saying your funds need to be recovered or something like that, then all the funds on your wallet will be gone. So seed phrases are designed to help us with self custody and to manage our cryptocurrencies and digital assets more easily and restore any lost access to our funds. However, like we just discussed, there are risks. And even if you decided to try and remember it by heart or mix up some of the words, if you unfortunately suffered a brain injury, memory lapse or similar, that's also a risk of completely losing access to your funds. So think about this. Cryptocurrency private keys are generated by elaborate mathematical algorithms where data is encrypted many, many times using a huge amount of computing power. And then the most important key is then just converted into a 12 word seed phrase that can be used by anyone anywhere at any time to steal everything. Right. Important things to consider. So do your own research and never put your eggs or crypto all in one basket or even several of the same types of baskets. Diversification in investments is just as important as diversification of the same type of assets, like spreading cash into several different banks and spreading crypto across different types of wallets. Diversify some digital assets into seed phrase based cold storage hardware wallets like Ledger and Trezor and also diversify some digital assets in different technologically based wallets like BC Vault or Tangent Wallet. With Tangent Wallet, instead of a seed phrase as the only way to backup our cryptocurrency, backup copies of the wallet are created and used on the other Tangent Wallet cards. So let's say we have our Tangent Wallet card and two backup cards. We can store them in different geographical locations in case we need to restore access to our digital assets. And if anyone happens to come across the card or steals the card and even downloads the Tangent Wallet app and tries to access our funds, an additional security layer is necessary, which is where we encrypt our wallets with an access code by creating our unique series of numbers or letters or similar to a PIN code or passphrase. And to protect the wallet from brute force attacks, after each wrong password attempt, an increasing amount of time delay between each attempt is executed. So our crypto remains secure. Amazing. The other new features we will explore apply to both the first and latest versions of the Tangent cards as updates to the Tangent Mobile Wallet app and overall user experience. This includes a new dark mode where we can navigate through the mobile app comfortably in low light environments. So it's easier on the eyes when using it at night or in the dark. It also looks a lot cooler as you can see here on some screenshots. With the new update, we can now sort and group our cryptocurrencies and tokens however we want, whether it be by balance, by blockchain network, like cryptocurrencies on the Ethereum network versus Polygon or similar, or manually in whatever order we prefer to see them. Tangent added an extra layer of protection with an option to hide our balances when the app is open to keep our crypto holdings more discreet without us having to sacrifice convenience if others are close by and can see our phone screen. And they also added an option to turn off access code recovery, which increases security. We can now monitor price changes over the past 24 hours of all of our assets directly in the app to help us make informed decisions during crazy dynamic markets. There is rapid access to buying, selling or hiding a token by tapping and holding it on the home screen. Bitcoin and Ethereum transaction histories also display directly in the app without us having to check third parties like Block Explorer, Etherscan or similar. And Tangent is working on adding more blockchain networks in future updates. Tangent now offers 24x7x365 support so they can answer any questions we may have or guide us on how to properly do crypto transactions with Tangent Wallet no matter what time it is or what time zone we are in, which is huge for beginners just getting in the space. More features are on the horizon like a market data feature directly inside the app, an address book, cross -chain swaps, staking and more support for more blockchains. Brilliant. Now let's transfer some cryptocurrencies off of exchanges to our Tangent Wallet together so we can get more comfortable with the process as well as transfer some back to the exchange to practice for our profit -taking strategy in the next bull run, which you can learn more about in this video guide by clicking on the link above. And after that, we will learn how to connect our Tangent Wallets to Web3 applications like Morales Money, a platform for finding undervalued altcoins before they pump in the next bull cycle. So stay tuned to the very end to learn more about becoming your own bank with complete control and ownership over your digital asset investments simply and easily with Tangent Wallet and a very important free tool we can use when interfacing with Web3 to further protect our funds. Nice. Let's move some Bitcoin we have on our Coinbase account off of the exchange together to hold in our very own cold storage hardware wallet, Tangent Wallet. Open the Tangent app, tap scan card, scan the card, and enter the access code. Scan the card again. And from here on the dashboard, press and hold Bitcoin, then tap copy address. Next, open the Coinbase exchange app, tap the send button, tap Bitcoin, paste the Tangent Bitcoin wallet address into the to field, and tap continue. Enter the amount of Bitcoin we want to send. I always recommend sending a small amount as a test first to make sure everything is good to go. So in this case, we are sending $100 worth of Bitcoin. Tap preview, make sure everything looks good, then tap send now, and it's on its way. In a few minutes or so, when we open our Tangent Wallet app, we will see the $100 worth of Bitcoin that we now completely own and control. Repeat the same process for any other type of cryptocurrency by copying the corresponding address on Tangent Wallet, also making sure we select the right network. Like for example, with Tether, there are many other available networks like Ethereum versus BNB Smart Chain versus Solana and more. And then repeat the same similar process on any other exchange we may have crypto on by using the send function, pasting the address in the recipient field, and checking to make sure everything looks good before sending. The process is actually much easier and simpler than most people think that are new to crypto. And it's a lot like riding a bike. I can try to explain how to ride a bike to you, show you how to ride a bike, and you can read about riding a bike. However, at the end of the day, you need to get on the bike and ride it for yourself to learn. So start practicing transferring to and from different exchanges and wallets to prepare for the next face -melting bull cycle so you can take profits and potentially change your life with some nice gains. And if you want to explore a simple tool any of us can reference to increase the probability of us making gains by buying and selling altcoins at the right time, check out this video guide all about the Morales Moneyline charting tool by clicking on the link above. Great. Now let's transfer crypto from our Tangent Wallet back to Coinbase exchange to practice for when we want to lock in profits by converting it to fiat and transferring it to our bank accounts. Note that you can take profit in stablecoins directly on the Tangent Wallet app without transferring it by tapping on the token, tapping exchange, entering the amount, and tapping swap. There's also an option to sell for fiat using moon pay if we tap sell. However, you will have to set up an account with them which is a good idea so we have multiple options to trade and sell crypto when the market is hot as some exchanges get overwhelmed, freeze transactions, prevent withdrawals, etc. So open the Coinbase exchange app, tap receive, select the crypto, for example Ethereum on the Ethereum network, tap copy, then open the Tangent Wallet app. On the dashboard, tap and hold Ethereum, then tap send. Paste the Ethereum network wallet address from Coinbase in the address field. Select the amount of Ether to send, which as usual start with a small amount to test first to make sure it works, then tap send. After a few minutes or so, depending on how busy the network or exchange are, it will show up on the exchange and from there you can sell it for your country's currency and then transfer it to your bank account. Amazing. Now let's connect our Tangent Wallet to a Web3 application so we can start using decentralized platforms like Morales Money. But first it's extremely important to make sure we are accessing the correct and official sites as well as understanding exactly what is going to happen when we sign transactions to avoid losing all of our funds from a scammer or hacker using a free browser extension called WalletGuard. I've been using it over the past year and it's been working great, popping up warnings, helping check everything out before transacting, so it's definitely worth checking out and giving it a go whether we are new or experienced in the space. For example, if we start interacting with smart contracts like for minting NFTs, when accessing the site, WalletGuard's phishing protection layer executes and warns you if the website might be harmful, if it was created recently, and if it has a low trust score and if we do proceed to do so with caution. And when we do, before attempting to verify a transaction with our wallet, a second layer of protection is executed with a clear human readable warning about what exactly will happen if you decide to proceed with a transaction, like if it's going to drain your wallet instead of actually mint an NFT. This feature alone would have saved me from losing over $20 ,000 when minting an NFT on a fake lookalike website back in the last bull cycle. Absolutely insane. It can also detect and will notify you if the site is making multiple attempts to interact with your wallet, trying to hack and steal funds. So, WalletGuard is a must have as a crypto investor, so make sure to scroll down and use the link below to access the correct and official site to download WalletGuard's free extension to protect your wallet and crypto assets today. Seriously, it takes like 10 seconds and if you'd like to see a video guide all about how it works, click on the link above. Nice. Now that we've got an added layer of protection to keep our wallets and funds more secure when interacting with Web3 apps, let's learn how to connect our Tangem wallet to a Web3 app called Morales Money. Make sure to use the link in the description area below to access the correct and official site, as well as redeem any special offers they have for us. Before connecting, open the Tangem app, tap Manage Tokens at the bottom, tap BNB and make sure the BNB Beacon Chain and BNB Smart Chain options are enabled. That way the connection to Morales Money platform goes more smoothly. Using the link below, when we arrive at the site, we can see a screen full of crypto bubbles that show us which altcoins are up versus down in the latest price action. And in the top right hand corner, click on the Sign Up Login button, then click Login via Wallet. Here we can see a secure login screen where we can click Connect, then click on the option called Wallet Connect here, and then we will see this QR code. Next, open the Tangem wallet app, tap on the three dots in the top right hand corner of the screen, then tap Wallet Connect, tap the Add icon in the top right hand corner, then hold your phone facing the QR code on the Morales Money screen. On the Tangem app, you will see a message, tap Start, and next on the Morales Money screen, we just need to click the Verify button. Then on the Tangem wallet app, on the message that pops up, tap Sign. Enter your access code, tap the Tangem card to your phone, and on the Morales Money screen, enter your email address, and now you're connected to the Morales Money Web3 app. This is a platform with a lot of different functionalities that helps us with finding new altcoins, trading them, and much much more, which you can learn all about in this video walkthrough by clicking on the link above. Just to give you an overview of what we can do with our Tangem wallets connected to Morales Money, we can check out our wallet balances by clicking on this profile picture in the top right hand corner and then clicking My Wallet. And here we can view all of our tokens, and under the NFT tab, we can also view any NFTs on our wallets. Nice. And on the navigation menu at the top of the screen, if we click Swap, then click on the dropdown that says Trading Account, we can click Main Account, which opens up our wallet. And if we click Swap, we can select a token to sell from our wallet to buy another token on the Ethereum, Binance, or Polygon blockchain networks. All straight on the blockchain without having to transfer tokens to and from centralized exchanges. Very neat. On Morales Money, we can also go to the Explore Coins option and choose a predetermined filter like Top Recently Minted Coins with Experienced Buyers. And if one of the tokens seems interesting and you want to gamble on some, click on it. And on the right here, we can instantly swap tokens in our wallet to the new token directly on chain. There are a ton of other interesting tools and tricks on the Morales Money platform with many more to come. So if you're interested in checking it out, be sure to scroll down and use links below to sign up. If you would like to learn more about Morales Money and how it can help us potentially make life -changing gains in altcoins, check out this video. If you would like to watch a video guide about how crypto wallets, seed phrases, and private keys work, check out this video. And to get your very own Tangent wallet, click on the link in the screen. Like and subscribe for more. Be safe out there.
Unchained
Fresh update on "solana" discussed on Unchained
"So, but we had to prove that that's possible. And if, if you can't prove that in the economics, right, if you have an environment where NFTment raises the price for a payment, it means that the whole thesis that a single giant network can handle multiple applications and all the applications for finance at the same time, it kind of falls apart because like, okay, so it doesn't matter if you can run 50,000 TPS, because if like I have one NFTment and it raises the price for my payment, kind of, I'm going to run my own chain for payment. So really like figuring out local fee markets was an existential like thing that we needed to do. And that ships last year, last break point. And you saw the performance and like, kind of like, like from a fee perspective and hotspots and congestion, like all those problems were solved. And you can see like during major DeFi events or NFTments, things actually work. Like isolation only raises fees for that one hot event that has a hotspot. The best example of that was like, when the MadLats NFTment happened, you had Helium was migrating to Solana. They were minting a million hotspots on the network as NFTs. So at the same time, the students happen and everything worked. It was like the most boring day. I tweeted that that was boring.
Crypto Banter
A highlight from The Best Altcoins To Buy This Week! (Act Fast)
"This may not be the optimal market to start DCAing into coins for long -term holds, but right now is the optimal time for trading with a lot of amazing trade setups presenting themselves every single week. So in today's video, I'm going to run through the 14, yes, 14 trade setups, all of which are long setups this week, because you know what happens when you try to fight the trend, you get wrecked. This is a market where as long as the uptrend lasts, is your friend until the end of the trend. And that means we long more than we short. So today I have 14 long setups I want to discuss with you. Most of the setups are a little bit shorter term, like mostly focused on this week, but a couple are a little bit longer term, I would say like in the three to four month range. Not focusing on super long term trades here, but still definitely going to have some alpha for you in today's video as to what altcoins I think could be part of a rotation. As we're seeing right now, basically narratives hop from narrative to narrative as traders seem to be rotating profits into different sectors. And we're going to discuss where I think that rotation could take us. 14 very different altcoins in today's show. We're going to cover a couple narratives like gaming, like ZK, and hopefully you enjoy. Smash the like button if you are enjoying the content at the moment. Let's just start with Bitcoin. An interesting observation to make on Bitcoin is that the last time it had four consecutive weekly candles in a row to the upside, as you can see, like we have currently gotten, it actually did this in early January and ended up reversing for two weeks before continuing an uptrend. So I mean, just because it happened once doesn't mean we're necessarily going to get like a sustained pullback now. But I think what needs to happen and what the market is already starting to show us with weekly open here is that Bitcoin needs a little bit of a cooldown. Now a cooldown is not bad for altcoins. A cooldown, if Bitcoin just moves sideways, maybe a little bit down is actually good for altcoins because it gives the alt some breathing room. It takes the wind out of Bitcoin sales a little bit and gives the alt some room to run. So what I want to see longer term is definitely a sustained increase in Bitcoin dominance that shows liquidity is flowing into Bitcoin. And then eventually I want to see that siphon off into the alts. So I actually want to see dominance pushing up to 60 % for a really healthy market. So altcoins can have a sustained run. But for now, if Bitcoin just cools and alts run a little bit, that's okay for now. Another interesting thing to note is that Bloomberg analysts still expect a 90 % chance of a Bitcoin spot ETF approval by the 10th of January. At the moment, the SEC has another five days to approve an ETF. If they don't approve it, then they're going to have to delay until January. So we could see an approval this week. I don't think this will be the case, but it is a possibility given the fact this week we are in an approval window. So definitely look for some volatility on Bitcoin. All right, let's get into the official list of altcoins that I'm looking at my weekly watch list. By the way, this is a show that I've been doing pretty much every week, but obviously now there's extra attention on the show because we're finally getting some market movers. If you looked at my watch list last week, basically I think six out of the seven tokens that I listed all ended up in profits. We had some amazing trades from that watch list. So congratulations to everyone that got involved there. Hopefully from this week's watch list, similarly, we have some good trades that come out of this one as well. The first place I want to start is ThorChain. What you need to understand about ThorChain is that it's the ultimate bull market token. Because of its reflexive mechanism, the more capital that goes into Roon, basically the better the yields end up being because they need to incentivize LPs to stake tokens in the pools to balance out the Roon LP because Roon is pumped in price, right? So when you have a higher APR, a lot of people ape into Roon, increasing the TVL. We can see the TVL is skyrocketing at the moment, as you can see here. And what that means is that Roon has this really explosive effect, this compounding effect, this flywheel when the market starts to deposit into Roon. So Roon is actually pretty much the ultimate bull market token. In a bear market, it's the opposite. It's one of the worst tokens because it gets hit really hard the other way. When the Roon price is going down, the yields tank. A lot of people exit the ecosystem because remember, to facilitate omni -chain swaps, what Roon does is it basically has LPs where you're required to hold an asset one to one with Roon. So if you want to swap from, let's say, Ethereum to Bitcoin, you're going to need in the omni -pool your Roon pairing with Ethereum and Bitcoin in order to facilitate that swap. So that's why in a bull market it does really well and in a bear market it does really bad. Because we're in a bull trend at the moment, Roon is clearly performing really well. It's one of the strongest performers in the market at the moment. And for that reason, if we do see a pullback like we're seeing right now, this is one that I'll look to ladder into on continuation. As I mentioned at the start of the video, this is really a traders market and it's a market where you probably want to be longing more than you are shorting. And when we're longing more than we're shorting, we want to look at the strongest coins. There are a few rotational players that I want to talk about but you generally want to look at the strongest coins and on any major pullbacks you can use them as dip buying opportunities, not for spot but for trades only. So depending on your risk tolerance, you can use different amounts of leverage. Some people, if you have more capital, you'll prefer spot trading. For me, I actually do a fair bit of spot trading so I might go in with a bigger position or a low leverage position because I don't want to get wicked out like we saw on the 10th of November. But here are some levels that you can look at to enter Roon on the pullback. The major level I'm looking at is this cross section here between the horizontal and the upwards diagonal trend which comes at around $4. If Roon somehow makes its way back down there, I don't think it will. This would be an amazing zone to do some buying. If not, then you do have this zone right here at the 4 .7 area that could be an interesting look as a small ladder in zone. You could probably ladder in here and then your last gasp is at $3 .60. If it starts breaking this trend, then that looks really bad that it's just going to reverse all the way back down. I don't think that's going to happen though. I think momentum for Roon has been upwards and as such, we should treat it with respect and it's certainly what I'm looking to have a nibble at if we continue to get any sort of sustained pullback in terms of trading, of course, not long -term. Long -term positions will be on more key high time frame supports. If you want to learn a bit more about that, I actually uploaded a video called If You Miss The Crypto Rally Follows This Exact Roadmap, which talks about long -term investing. So today is the short -term show. Yesterday, if you go onto the channel and go onto my playlist, and there's also a playlist linked in the description, that will give you a roadmap for the spot side of things. In terms of buying spot Roon, you want to be doing so on key support levels on the higher time frames because we don't like to buy long -term positions on the shorter time frames. It just doesn't make or the lower time frames. It just doesn't make any sense, right? 4 swaps an interesting play now starting to wake up as well being the main decks on Roon. This is definitely a 4 beta play or a Roon beta play rather. So 4 is definitely what I'm looking at in a similar gist to what I'm doing with Roon. Any major pullbacks probably going to gobble them up from a trading point of view. And you can also see they closed with an all -time high trading volume right now. A lot of people are actually using Roon to swap, which is an amazing thing and great for the ecosystem. So that's Roon. Now I want to talk about Solana because Solana is in a similar position to Roon in the sense that being one of the most explosive price movers. But it's kind of an interesting spot, right? Because it's come all the way up from what $15 to $53 in price. It actually hit $60 for a brief period of time. Spot holders don't know if they should take profits here. Traders don't know if they should be longing here. It's kind of in a weird position. But if we look at Sol, we can see that it broke above the key weekly resistance at the $48 level. So for me, a pullback into this zone similar to a buying opportunity, because I think what tends to happen with these coins is the most explosive move happens last. We haven't, I don't think seen that blow off top yet. And I may be wrong, this $65 zone could have been this blow off top. But I still have a feeling that we get that final thrust from Solana that just squeezes all those shorts that are now starting to pile up a little bit. And that will be your final blow off top for Solana. So because I think there's a tiny bit of juice left in the lemon here, I would be looking at any major pullback similarly to Rune continuing to ladder in until the trend reverses. Happy to kind of lose a bit of money trying to play this game considering that the upside is fairly immense in my opinion, if you can hit that trade. So Solana is one that I'd be interested in longing on a major pullback. You know the key level on the weekly. Obviously, you want to confirm that with lower timeframe trade setups because you have a fantastic level to look at. And on let's say the one hourly, the four hourly, that's when you'd actually be entering. Okay, let's move on to a new subset of tokens. These are the tokens that haven't moved. I know Rune and Solana have moved aggressively and we are playing the by the dip game, I guess on those ones. But some of the coins I want to talk about now actually haven't really moved. Now they have moved because the whole market's moved, but just not as much like Polygon hasn't done a 5x like Solana has or you know, 6x, 7x like Rune has. It is significantly up of course, but there is a really interesting narrative starting to brew here and that's the ZK narrative. So if you actually remember back to earlier in the year, January, February, some of the strongest performers alongside like AI and LSDs were the ZK coins. There was a lot of ZK hype and Matic being your biggest coin in this ZK basket of coins tends to be a market leader and it also happens to have this big announcement happening on November 14th which is garnering a leader of the ZK sector if ZK starts to wake up. Because right now we're in this rotational market, we saw Solana rotate into Avalanche, we saw that rotate into Phantom, we saw gaming pop off, we're seeing all these narratives pop off, AI popped off last week. I think next, a narrative that hasn't really popped off, but one that did in January is ZK. So Matic's definitely one of them. In terms of trading this, you do have your major support at 76, but what I would be more interested in is a break of the 92 cent level on the four hourly. Any confirmation above this level would be a decent entry in my opinion and you can see this level mapped out on the daily chart as your key resistance that we're currently trying to test at the moment. If we break that level, then suddenly we can look at a scenario that happened earlier in the year in February, as I said during that ZK run, where Matic ran all the way to 150. A 150 Matic in this run is not out of the question at all. In fact, I think it could happen if ZK gains steam. So that's what I'm keeping my eye on. Now let's talk about some of the other ZK protocols, but before we get into that, while we're speaking on the topic of Polygon, if you do want to earn any yield on the Polygon side, you can go to the farming page on SmartX, which is one of our official show partners. It's an AMM, which reduces the negative effects of impermanent loss and sometimes leads to impermanent gain that currently offers some of the most competitive, in fact, the best rates on the Polygon side for yield farming. So you can see in front of you, you've got 30 to 40 % APRs on a variety of pools, which as I said, have a mechanism which reduces impermanent loss, which is obviously one of the biggest headaches when it comes to Lping in crypto. So I highly recommend using the link in the description below to check out SmartX if you are interested in farming, or you can also do swapping on SmartX and get some of the best swap in the market as well. Link in the description below to check out SmartX. I've got some big announcements coming soon that I'm excited to share with you as well, so stay tuned for that. So let's talk about some of the other ZK protocols. So if Matic starts to make a run here, what will I long? Well, I'm going to long the leaders. I'm not going to try and pick the laggards in this sector. I want to pick the strongest coins in this sector. If we look back to the last run, as I mentioned at the start of the year, some of the best performers were Mina Protocol, Loop Ring, Nute and Dusk. So these are the ones I'm looking at because the market's really familiar with them. I think there's a bit of synergy here with that narrative in these coins. So those are some of the ones I'm looking at. But whatever leads in this sector after Polygon, those will be the ones that I'm interested in. And you can see Polygon and Immutable, the two biggest ZK protocols have run, but a lot of the others haven't run yet. So I think it's a narrative that's flying slightly under the radar, but I think it'll catch up quick once it starts to gain steam. So as a rotational play, this is definitely one that I'm interested in this week. Another one I'm interested in, which is already starting to pump, but probably has a little more upside left in it, is Sei Network. Now we know how explosive these career pumps have been in recent times. Pretty much every token that's been listed on Korean exchange a bit has exploded. We saw this earlier in the year with Sui and Aptos. We've recently seen it with Mina Protocol. Now we're on its pair on Upbit. So Sei is definitely one that I'm watching. It's catching a strong career pump. It has moved, but Sei is what I would call a new coin, right? It's a coin that has launched in the bear market. It's newer. It has pumpermentals because there's less underwater bag holders, and it still is down from its original trading price on its first day. Not from IDO price, but from the peak that it hit on its first day because it had a huge pump, ended up coming back down. It did hit its low of, what is it, like 0 .09 here. It's now started to move back up to 0 .15, but that's less than a 2X on a coin that has, as I said, pumpermentals. It's obviously a trading blockchain built in the Cosmos ecosystem. So some interesting stuff with Sei. If you do want an entry here, I mean, you could look to get an initial position, but if you're using leverage, you want to be careful. I mean, this is kind of not really a great place to trade. Obviously on one hourly, you might be able to find, it depends how, like if you're trading breakouts, you could probably look for like a breakout of this trend here. By the time you're watching this video, it might be too late. So the best I can do for you is actually looking on the four hourly and showing you these key support levels. The 0 .1344 level, if we do get some sort of confluence with the horizontal and diagonal trend here, this would be a great pocket to buy in. But any zone along this major support zone will be an area that I load up, but it does depend on your trading strategy. If you are a high leverage trader, you want to be a lot more precise. Me, I'll either go in this with spot or super low leverage. So I'm not so concerned about getting the exact entry. I'm just trying to really catch it for the uptrend. So depends how you trade, of course, if you're trying to snipe that entry, got to be a lot more careful. For me, a much lower leverage than your average person because I found that's what works for me because I don't have time just personally to sit in front of my computer all day and snipe entries. That's not me. I much more size. So let's say instead of taking a 2k position, I'll take let's say a 10k or a 15k spot position. And then I can't get wrecked on margin, which has been helping me a lot. Or I'll just go in with like a 3x leverage position. So it would take a lot to shake me out of a trade. So that is one I'm looking at. Similarly to say another coin that has pumpamentals and has shown this in recent times as another new coin is Celestia. Remember guys, the new coins can pump so much harder than all coins in the market. That's why I've been saying for a long time, you should definitely keep your eye on the new coins from both accumulation and a trading perspective. Celestia, by the way, is one if you've been following me on Twitter that you may have gotten an airdrop for because I did an airdrop guide last year and I included Celestia and this could end up being one of the most lucrative airdrops of the year. Congrats to anyone that watched that guide or watch my tweet and got involved because right now if you held your Celestia bag, you'd won to $2 ,000 but for some people it could be a lot more if you use multiple wallets. So I think this one is fantastic and there's a few people that have been coming out and saying that it's this cycle's soul. Smartestmoney .eth, it's an account I respect. The number one coin m p &l trader on Binance, that's pretty crazy, that is very crazy actually, has added spot to a massive seed position quote unquote and basically said watch and learn wannabes. These guys out here buying salt while I'm buying the next Solana. Big call but I mean the market cap is reasonably valued 700 mil okay five bill fdvs a lot but we know in the short term the circulating supply definitely goes to dictate how explosive the price moves can be market cap 700 mils reasonable at rank 71 calling it the next soul I don't know I like this one I like it as a spot play but not maybe after this massive pump in terms of a trade though super interesting now actually on support trend you'll notice a lot of coins are following the same trend they have a diagonal up trend as long as they stick to that trend you long if they start to break down below you've got to be a little bit wary but they've also got these horizontal support levels that they make after their retracements so this is actually a good one too long there's a couple of levels here for you to look out for on the one hourly on Celestia so that's an interesting one and let's move into some of the final narratives here I've got two more to share with you and both of these include a variety of alt coins so the first one is perpetuals I think if this volatility is to remain in the market we could definitely see perpetuals performing well we're starting to see a catch up in terms of price and fundamentals despite that not being the case a couple of weeks ago and if you see in front of you volume is performing really well this is purpose trading season this is an on -chain aping season this is the season where people are trading perps I think the centralized exchanges are doing the best that's where most people are trading but I think decks could catch up and for this reason as well as the fact that I think volatility could remain for the foreseeable future I think the perp decks remain super interesting looks at the moment not for short -term trades this week but over let's say the medium term so two to three months maybe even six months so these are definitely ones I've got my eye on dydx I'm going to do a video on this week that's a very interesting trade GMX and gains network being the ones that are kind of your decks perp decks proxies and a few others and as you can see on the weekly a lot of these are barely moved so especially like GMX and games they're a very interesting look in my opinion and if you do want to snipe better entries on a coin like GMX I recommend you use Kyber AI which is a software that basically tells you the momentum of a coin based on a variety of on -chain indicators like the number and types of trades trading volume net flow to whale wallets and what I would do on a coin like GMX is essentially if you're lining up a buy and let's say you want to start buying when shifts momentum what I would look for is a pattern like this where it shifts from bearish into bullish territory now since this video is not live you're gonna have to open your up your own Kyber AI using the link in the description below to see where it currently is but right now this would actually be potentially an interesting place to long GMX if on the lower time frames it lines up with what the Kyber score is showing which is basically bearish price momentum shown by a strong reversal so heading back into bullish territory as you can see buys are now starting to outpace cells and volume is also up ticking across GMX all of those are metrics that go into the Kyber score Kyber score is one of my favorite metrics in crypto if you go to rankings you can actually sort by market cap I love doing this so I go more than 500 million for the large caps that you can actually trade perps on and you can see which coins are looking the most bullish this can help you get entries in the market especially in a bullish market like this searching for the bullish coins can be an amazing way especially using on -chain analysis to get better trading entries so link in the description to check out Kyber AI it's an extremely useful tool especially for confluence with getting trading entries and crypto bad to subscribers will get early access versus the rest of the pack so link in the description below of course it's free so not showing you anything paid it is a free service to use the last narrative I want to talk about quickly is one I think people are forgetting about it has had a bit of a pullback um but it's the gaming narrative into YGG the reason I say people are forgetting people aren't forgetting about gaming there's a lot of talk about crypto gaming on twitter but I think they're forgetting about one of the biggest gaming conferences in five days time starting on November 18th it lasts for a week there definitely could be some I mean a lot of the major projects are speaking there so there could be some interesting announcements and even if not I think there's bound to be hype into that conference so for that reason definitely keep your eye on the gaming projects there's two in particular that I like YGG because it's their conference and this is now having a pullback into a decent zone in my opinion and also GMT which on the weekly and I know once again you don't enter short -term trades on the weekly but on the weekly if it can pull back down into this pocket at 0 .22 and confirm this is support and if you line that up with your lower time frame indicators of course that could be a decent zone also to enter a GMT trade so gaming is something I'm not going to fade the bees are kind of going from one narrative to another but gaming is one that I've got my eye on ahead of the conference so I hope you enjoyed this video these are all the narratives I'm looking at right now mostly short -term some medium to long -term hope you enjoyed this was fast it was alpha packed let me know in the comments below if there are any other coins I should look at and I'll see you in the next one. Peace out.
Unchained
Fresh update on "solana" discussed on Unchained
"Yeah, yeah, I guess when I phrased my question, I should have added that they were supportive on the surface. So, you know, one other thing is, obviously, we recently saw that the criminal trial of Sam Bingman Fried got wrapped up, and he, you know, was found guilty in all seven charges. I actually don't know how close were you to Sam? And, you know, do you have any takeaways from that whole saga? Um, like, we were close enough to like, where there were if there were product ideas or something like that, like labs or an ecosystem company was launching, we could talk to their engineers directly and kind of get stuff going. So that was like the relationship between like labs or anyone in the Solana ecosystem and FTX. It was more the, the individual can I see, right as the engineers that could write code as we call them, I sees, it was like, I see to I see, we could get people connected without having to go through the middle layers of BD people and all this stuff before anything gets done. So like that, when that works, that were great. But like, in as far as their like, internal strategies and things like that, those were pretty opaque. And it seems like he held them pretty close within his cohort of like, you know, insiders. And but looking back, do you feel like there were red flags that you like only realized in hindsight or? Honestly, like, like a lot of folks, my impression of him seemed like, Oh, this is like some super genius. That's just moving as fast as possible. Right. And like, I don't know if it's the MIT diploma or whatever, like, there was that aura about him that, like, kind of works right as his like cult of personality. And just I assume like, Oh, these guys are have like a Sequoia wrote him half a billion dollar check. They must be like, they must be doing all the right things, you know, like, it's really, really hard to like, no. Yeah, yeah. I mean, obviously, although the few people who, you know, had their inklings, they definitely now are feeling the coin vindicated. So, you know, as I mentioned earlier, despite all these travails, Solana has, you know, outperformed most everything this year. Do you think there are any particular kind of key moments in, you know, the journey this past year that helped Solana get to this place where it became a top performing crypto? I think it's like folks like Armani and Backpack that continued, that got into that fight or flight mode and stuck with fight, you know, and really doubled down and building products. I would say the MadLads launch was really, I think, in my in my view, kind of like the turnaround point that you could see that there's a very strong community around product development and shipping and like kind of very application centric, which is very different from Ethereum. And that community is there and it's thriving and people are shipping stuff and what they're shipping is being recognized right by, you know, by consumers and stuff like that. The MadLads launch, I think, in my mind was that moment, but it really just highlights a lot of other teams like Margin, Camino, like a bunch of other folks like Pith and stuff, Jupiter and Jito, like that have continued building right through the bear market. And even before FTX collapsed, like starting, I would say, with the Luna collapse, we were in the real bear market. Those folks just doubled down on product development and continued building. And when you see that like success, it's as always right, four years in the making. There's there's been a bunch of people that spent two years at least building a product and iterating and making it better. And now they kind of see the fruits of their labor. So it's sort of like excitement about applications in Solana driving up the price. You know, I have to ask, though, because I have noticed, so according to Electric Capital, monthly active developers in Solana is down quite a bit. It's down to about a less, less than a thousand every month. And at the beginning of the year is more like about 2,500. So why do you think that's dropped? Devs are very macro oriented. So as you see, the bear market get really, really get into full swing, a bunch of developers leave and then they come back. And what you're really looking for, like, you know, the one in 20, stick around and like actually go start a company and like go actually build something. And you can see from the hackathons, like even the hackathon that happened right after FTX, there were more projects submitted than the previous one. So there's people kind of coming in and trying and building stuff out. The kind of broader number of devs is like a good indicator of like macro and growth, if you can compare it year to year and stuff like that. OK, but you're so you mean like the economic forces affect the number of devs? Devs need money to like to do their job, right? They have a constant opportunity cost. Do I work on this or do I keep working at my Google Fang company? Right. So the only reason that they do build things on the side, but like there's this decision point, do I go full time on this thing or not? And that is a very financial decision for every developer because they have a very, very large opportunity cost. Any competent dev has a, you know, like half a million job offer with like stocks and benefits from Facebook or whatever. So they have to like make that decision. The only reason why they would go build something right is because there's an opportunity to raise money or to get revenue. So those two things have to be present. And when like the capital markets shrunk right year to year by like, I don't know, 90 percent or something crazy like that, that really, really impacts the number of devs that are going to enter the space and go full time and start companies. Okay. Yeah. Yeah. This actually reminds me of a portion from my book on Ethereum where the Ethereum Foundation was really in a bad spot and they got lucky that some people just believed in it so much that, you know, they turned down really lucrative jobs to work on it. So, you know, as we mentioned earlier, Sol is performing well in price. Honestly, it probably doesn't hurt that Cathie Wood, you know, sang Solana's praises. But, you know, in addition to the number of devs being down, the blockchain also recently saw the lowest number of daily active wallet addresses in two years. So I wondered, you know, what you're making of that decline in activity and then, you know, what you have planned in order to foster some more growth. Well, you kind of saw that already turned around with recently. It did come back up. Yeah. And this to me seems also like very macro related. Like if there's nothing for retail to do and a lot of applications are like chasing retail traders effectively, they're going to be shrinking and it kind of moves around from like the whatever ecosystem is providing the most rewards. I think as you see companies launch products, that's going to come back and bring back, you know, folks using the chain. OK. So aside from the FTX collapse there, you know, prior were other trials and tribulations that Solana faced, particularly in 2022, there were a lot of outages that happened. And 2023 has been a really different story. So how is it that Solana was able to turn that around and, you know, really have minimal problems with that time? Yeah. So last year, right before Breakpoint, we were able to ship local fee markets. And this is kind of an innovation that's unique to Solana. I don't know if most folks know, but the way that Ethereum and I would say every other blockchain works is you have a single threaded environment and that processes transactions and it looks for the highest paying transactions and just goes and runs through all of them. So the problem that happens is when you have like a hot NFT mint and a liquidation for some, you know, lending protocol and like a token launch, all three of those are competing for that block space. And it's happening so quickly that people will basically bid up up to whatever the economic opportunity of being first in the block, right, of being part of the block. And they're fighting each other because if you allow the NFT mints, you're not going to get the liquidation. So there's this like battle between different use cases that's happening in Ethereum. So with local fee markets, the way that it works in Solana is those are actually isolated. So you can still have hotspots. You can still have like these major events. But if a fee spike happens because of NFT mint, it doesn't impact like a visa payments or something like that. That took like a good while to develop in 2022. And we saw the congestion problems that were caused by this. This is because you'd have like an NFT mint and like bots would be sending 100 gigabytes worth of traffic to be first in the block. And there is a solution for this. But like, if the chain was like, if we copy the implementation of our Ethereum and just raise the global fee, it really breaks the whole premise of Solana. Like Solana is really a multi application operating system. I think of the difference between Solana and Ethereum is much like the difference between, you know, like Windows 2000 and Windows 95. If people remember what that what that was. Yeah, like I was I was like, you know, an adult at that time and I barely remember. So please enlighten us. So like Windows 95, a Windows operating system that was in those early days could only run one application at a time. So you would run the window that was facing you. It would run that app. It couldn't really run more than one. So it was a single threaded OS built for CPUs, like processors that only had one core. And when hardware vendors realized that they cannot make a single processor any faster, they started adding cores. The problem was that operating systems just couldn't deal with that. They couldn't really actually manage it to run more than one OS, more than one application at a time. So it took a big pile of work to rewrite all of this and like Microsoft spent, you know, like ungodly amounts of money, tens of thousands of engineers porting over all the stuff to Windows 2000, which is a proper operating system that can run multiple applications on different cores and stuff. And that's a hard engineering problem. So Solana is just like that transition. So Solana has had its Windows 2000 moment. Well, we're the ones trying to build Windows 2000. Well, everyone else is still stuck in Windows 95.
Tech Path Crypto
A highlight from Avalanche Skyrockets Gaming Bull Run Begins
"All right, today we're going to dive into some blockchain game wars that I think you guys are going to want to listen to. We're going to be breaking down a lot of projects and also giving you some insights as to where maybe some of these game companies are going to be going. It's going to be a good one. My name is Paul Baron. Welcome back to the Tech Path. All right, let's get started. I do want to thank our sponsor today, and that is Tangem. If you are looking at a self -custody wallet, which you probably are, maybe jumping into crypto for your first time and you're thinking, I want to park some of my crypto off of exchanges. This is one of the tools that you can do it. All you have to go and do is go over to tangem .com. You can jump right into one of their cards. One of the things you're going to like here is the flexibility of both the card and the app versus using a hardware wallet. You know what I'm talking about. It's very simple. You get a three -card set, keep one with you, park the other two, hide them up, and then use it anytime you need to do a transaction right there on your phone, both iOS and Android. Make sure and check it out. You get an initial discount by just using our code, so we'll leave one down below. Make sure and check it out. It helps out. Now, I know everybody was kind of dogging us a little bit about my statement last week, a reference to the situation around Alluvium and them being on Avalanche. I just want to kind of clarify, there's a lot of research that comes, of course, across our desk here, and some of it is through things that we just are constantly perusing. One of the things that really kind of caught our eye was what was happening over on BeamHub. And BeamHub right here, as you can see, and our team tells me that this used to say coming soon, even though it says popular Alluvium Arena. And so the theory is that maybe there's going to be some action here of Alluvium on Avalanche at some time. So that's just, I just want to get that out there, kind of get it away because I know everybody was kind of freaking out about that earlier. I want to get into a couple of tweets. We'll kind of start right here, Coinbase Exchange, adding support for Solana and Avalanche Perpetual Futures. This course is in the international exchange. Now why is this? It's very simple. Both Solana and Avix, very active in the gaming ecosystem and the likelihood of moving and seeing a lot of growth, I think, in the coming months and years for blockchain gaming and Web3. Overall, this is a good move by Coinbase for sure, and I think eventually we may see some stuff like that here in the US, but right now we've got to deal with what we've got to deal with. And of course, that's just getting Coinbase past their lawsuit with the SEC. If you have not checked out our full playlist on Avalanche, go check it out. It's going to give you a full rundown of a lot of the projects, some of the games, some of the SocialFi experiences, all sorts of things that we've covered over the months and years with the Avalanche team, many of their devs, all that, executives, et cetera. Check it out. You guys will like it. It's a good playlist to get kind of indoctrinated into understanding what's happening in gaming, and why Avalanche is going to probably be one of the top ones out there. So why are so many crypto games are switching chains or calling it quits? And there's some reasons here. I want to kind of highlight a couple of points here. Let me kind of zoom out on this. There's a few things that I want to focus in on. 81 % of current blockchain games use non -gaming -focused layer 1s, so that's one reason. Early on, they're going to have to move into some of these layer 2s. 74 % of games are now choosing an EVM network, like Solana's virtual machine. Comes in a distant second, making up about 10 % of games, and this is in comparison to what's happening over on Ethereum and Polygon. ETH sidechain Polygon remains a top choice. You can kind of see the chart right here. And the number, Solana looks like they're number four, ETH number three, and obviously BNB and Polygon pretty much holding the top two spots, so something to be aware of. 65 of % blockchain games move networks, so this year, up from 48 games switching things up across all of 22. So a little bit of activity. Could be something happening there, I think, on the sense of urgency, meaning that people are probably realizing, okay, we've been building, we're at that time now where the market is going to start heating up, we need to be ready, and we need to be on the blockchain that we're going to be on. So I would agree that it's a good strategy move. 60 % of games that left a layer one network moved to a layer two scaling network. This is all based on fees. It's the situation that really kind of boils down to everything. As more people have migrated to Polygon, this is one of the developers, we just started to run into scaling issues with Polychain, and we're paying between $3K and $4K a day on gas. Just untenable, so this is preventing us from both scaling and the game. So that's a problem I think eventually will be solved with some advancements in Polygon tech that will eventually get that into a scalable solution for the growth that we're going to see around gaming in general. Also want to take a look quickly, just so you guys are aware, Polygon soared last week after IMAX Immutable, a Web3 gaming platform, shook hands with video game giant Ubisoft. So similarly, Solana has also been favored by institutional investors recently, getting some attention of top crypto whales, which I think both those tokens in general, but more importantly, the vision of what these tokens represent. That's the thing that I think a lot of people are going to continue to see happening for sure. So, very interesting, I'd love to get your feedback. When you look at all the chains, whether it's what's happening, or within the ecosystems, if you're looking at IMAX or you look at Immutable, you look at what's happening within Solana or even Polygon, maybe Avalanche. Is it something that you would focus in one particular area or games within one particular area? Let me know, drop some comments down below. Make sure and smash the like button is one of the ways that we understand what you guys really want here on the show. One other thing, I want to kind of go into a few tweets, this of course coming in from Sandeep over at Polygon. It's easy to price talk, this is obviously with the price changing and moving so quickly over the last few days. It's hard to discuss fundamentals, fundamentals have the last laughs, I always agree with that. And I think this is something also, hopefully we're supposed to get Sandeep on the show. He's been scheduled a couple of times, we're going to try to get him on the show, hopefully before year end to give you guys kind of an update of what's happening at Polygon. Here's Robbie Ferguson from Immutable. Are you getting it, Hanon? I don't know if that's a message or not. We'll see. Anyway, Assassin's Creed, Maker Ubisoft is building a crypto gaming experience with Immutable. And I think this is something that we're going to continue to see a lot of major partnerships really make their way into some of these projects that I think are good for the industry, but more importantly are good for this cycle. And what I mean by that is, and everybody always asks me, you know, what's going to be the big winners this time around? I totally believe that it is going to be gaming. We thought gaming was going to be the last bull run metaverse kind of play. Many of these projects just were not ready. Many of these, you know, blockchains weren't ready. Now it's a different story. And when you think about that, look at what is happening with Avalanche. Why are AAA game studios choosing Avalanche? They're on a full PR run right here, and you can kind of see some of the things that you have to kind of focus in on with Avalanche. Shrapnel, Gunzilla, build on Beam, we've been talking about that. Again, Beam, definitely one that I'm watching very closely just in reference to the token itself. Obviously Shrapnel, we've had Shrapnel team on our show. Great graphics. Gunzilla, just the ability for them to be able to kind of leverage both traditional and Web3 I think is going to be a pretty big deal. Now let's remember some guys in the moves that you guys will probably recognize. This of course is Ryan White. And Ryan was over at Polygon, and now he's moved over to Optimism. So I knew he wouldn't stay out of the business long. And the interesting thing since Optimism, this is just something that you have to look at, if you look at Optimism in general, a little bit of activity here, this is just on the price. Market cap right here as you can kind of see it exploding a little bit, 1 .6 billion currently. And if you look at the Explorer token unlocks, there are some things getting ready to unlock in a big way here. So I don't know, could be some action going on here. So I would just be very aware of that. If you are looking at or really analyzing Optimism OP as a whole, just something to be aware of. There's getting ready to be a pretty significant unlock. What does that mean? It means that we're going to see a dump. For some of you guys who have not seen or been around the crypto markets very long, if you haven't subscribed to the channel, eventually you'll start to get and understand kind of the vernacular that we use and what the industry use, follow crypto Twitter religiously and make sure and follow the projects themselves. Because a lot of times there's a lot within the projects and the devs within those projects that can be looked at that can kind of set you on a research role that I think you'll pay attention to. A good example, a tweet from Alexander from Scott Mavis, Axie Infinity, if you guys are, maybe you have been around crypto gaming for a while, you know Axie, but if you haven't read up on it, learn a little bit more about what Axie did because they were really one of the first ones out there. Now what he's talking about here was in reference to a show we did last week where we released a PBN exclusive and that was Roblox talking about introducing NFTs into Roblox. This was actually the piece that Alexander is talking to specifically. It was an interview with Squawkbox and the CEO of Roblox and it was all about the potential for NFTs. Short answer, yes they're going to be planning, it's coming into their roadmap and I think that was what Alexander of course is kind of referencing is that hey they've been involved with Roblox often and of course they've got investments from them and plans for Ronan and Axie and all that starting to play together. Point being is that there's a lot of intersection between what's happening in traditional gaming, Web 2, and what is getting ready to happen in Web 3, which is why everybody needs to be paying attention. This is a good example right here, Gala Games putting out a simple tweet, never short on Web 3. You'll notice this little icon right here guys, does anybody recognize that? I'm going to zoom in on that just for you guys a little bit. Right there, does anybody recognize that? Yeah, well that's IMX because they bought the hashtag and now every time that's being used, kudos to Robbie, you just punked everybody on crypto Twitter for sure. Interesting stuff out there. Games are being played in many ways right now and it's more than the kind of blockchain games that we're thinking about coming our way. Alright rolling out another topic, of course many of you guys have probably heard us talk about Zilliqa way back in the day. Well they're active again and guess what, they're making the Fusion Gaming Hub, the first ever Web 3 gaming platform available for download through the Microsoft Store. It's real guys, there's a Web 3 platform called Fusion, right there Fusion, on the Microsoft Store and you'll kind of get here Web 3, some of the things that are happening there. I don't know, I'm just, we'll see. But the point is, is that someone's going to be first and of course this is interesting that this was the case. Alright further into it, let's go over here, Chili's on the move again, likely to be on the move for some time with this move right here, announcing that Animoca Brands joins Chili. Chili's as a new validator, so they aligned the blockchain innovation with Chili's Sportfi, we've talked to Chili's before, we've went around Chili's and if you don't know about Chili's check out some of our videos because we do a full breakdown. Think of it really as a blockchain for the fans of a lot of these major sports leagues and this could be everything from MMA to soccer, etc, you know, European football for those of you in Europe. And then another one I want to hit on of course, this is Yat -Su right there, starting to rev up the engines with of course Torque. We had the Torque, well rev on their team on, so we were dropping a video this week, you guys are going to not want to miss it, make sure and check it out, this is just giving you kind of a precursor. Another thing that we've got coming is an interview with the HiveMapper team and if you guys don't know about HiveMapper, this is the company that is really expanding mapping in the blockchain and what that might mean for every kind of company out there in logistics, all that. This is the utility scenario that plays into a lot of that. So just, it's a good one to watch, we're going to drop a video on that this week as well. Alright, just as an example, this of course as everybody understands, Atlas was one of the first movers out and of course that as we've seen with in terms of their amazing development as a game overall. Others to watch this week, Uniswap we're kind of keeping a close eye on, if you're watching some of our videos you'll know why, go back and look at our video a little bit more on stablecoins tokenization and around that. Other ones to keep an eye on, I want to kind of scan down in here, this is Chiliz, this is the one that we just mentioned a second ago. This is another one to keep an eye on and a handful of others, there's obviously Wild, we've talked about Wilderworld before, over, a couple others you might want to take a look at. Anyway, the point is that we're starting to see a little bit of activity in Web3 around a lot of these games and eventual platforms of what's gonna play into the future of gaming as a whole. Alright, if you guys are not part of the Diamond Circle, make sure and get in right now, it's one of the best places that you can get additional alpha from us. Couple of podcasts, Kyle has his Web3 and business podcast over there, it's a great one, listen to that one. And if you want to follow me out there on X, it's at Paul Baron, catch you next time right here on Tech Path.
Bankless
"solana" Discussed on Bankless
"The vibe of Solana Breakpoint had notes that was familiar with my early days of Ethereum, but with some additional different flavors as well. First, there was a pretty clear sense that the Solana community feels like they're sitting on gold. They know that they've got something the world will one day want, and this sense of pre-rich conviction was definitely present. I wouldn't say that this vibe was ubiquitous. It was definitely expressed by a minority, where the rest of the conference attendees were more indifferent to that aspect, but it was present nonetheless. This vibe naturally brought in a sense of optimism and excitement for the future, which I definitely remember feeling during the novelty of my early Ethereum days, especially during my early years at ETH Denver 2018 and 2019. The production of Solana Breakpoint also stood out to me. It was extremely Apple-like in the polish, branding, and programming, to the point that the creative director of the Solana Foundation must have been doing that intentionally. This also checks out, since Apple's products are known for maximizing the capabilities and synergies between hardware and software. The vibe matches. The content featured on the main stage was all about scaling, scaling, scaling. If there's one bit of Solana Breakpoint content to consume to catch the vibe, it's the hour and a half opening presentation by a various handful of Solana leaders. It was hosted on Halloween, which is why Anatoly is in a green dragon costume. It was also funny to hear direct jabs at Ethereum articulated during the keynote presentation at a handful of instances. Jokes about not needing any layers and jabs at Ethereum alignment are actually a pretty core part of Solana DNA at this point, I would say. This is the part in which crypto Twitter has bled into Solana culture, and it's the part that I find the least resonance with. I think the Solana identity has largely been shaped by having to survive post-FTX collapse and the Ethereum community twisting the knife about the rampant extraction culture in the Solana app layer and the claimed incoherence of the monolithic scaling strategy. The Ethereum community was not nice to Solana in the time in which Solana was down bad the most. And it was at this moment when the Solana community grit its teeth, dug in, chewed glass, and then dug itself out of the narrative shithole it found itself in. The narrative around Solana was so bad post-FTX that it became existential. VCs stopped funding Solana-based projects just based on the fact that it was building on Solana. The sole market cap was at $4 billion, less than half of the 2018-2018 ETH market cap bottom of $10 billion, in which Ethereum was also faced with an existential concern about its ability to fund itself. I'm pretty sure this is when Solana leadership took a direct hands-on approach to fixing the Solana narrative, since it was the thing that was threatening the Solana project the most. This is when the merch reply guy ratio army started to kick in, and when you would find Anatoly replying to literally every single tweet about Solana, good or bad. And this is when Solana learned that it could develop narratives and memes that could revitalize the community around it, and then it did. To their credit, it totally worked. The narrative around Solana has found new meaning, new heights, and an insane level engagement on Twitter. And to our fault, our being the Ethereum community, by attempting to, quote, finish Solana off by conflating Solana with FTX as much as possible, the Ethereum community has a large role in creating the negative environment that Solana had to rebuild itself in. Now Solana has emerged from the bear market, still intact, and the entire Solana project now understands Ethereum to be no friend of it. And as a result, we find a jabs and shade thrown at Ethereum on the main stage of Solana's yearly conference. I'm likely focusing too much on this aspect, but the collective psychology of cryptotribes is one of the things that fascinates me the most about this industry. And while I often find myself playing tribal games just like everyone else, it's also a reminder of how we can all be better, even if our layer ones are fundamentally in direct competition with each other. So what is Solana excited about? There's one answer that stands head and shoulders above the rest to the question, what is Solana community excited about? And that is Fire Dancer. Fire Dancer is a brand new Solana client built by the Jump crypto team. The original Solana client, built by the Solana Foundation, has a bunch of tech debt and is generally unoptimized. The Fire Dancer client is promised to bring a massive improvement to Solana network performance. Jump crypto as a vision of Jump Capital are all highly technical engineers and traders. So if anyone can build a Solana client that is optimized for high frequency trading type activities, it's them. The Fire Dancer client can be considered a big network upgrade to Solana, Solana 2.0, if you will, akin to the Ethereum excitement as something like EIP-1559 or the merge, except focus on performance. The Fire Dancer testnet was announced at Breakpoint, much to the excitement of the entire community. Exploring what this means for Solana and validator economics is something outside of my knowledge and perhaps something we can explore on Bankless. But the TLDR is that Solana gets huge performance upgrades, at least that's what I'm told. Fire Dancer also unlocks a hugely important property of Solana, which is becoming a multi-client network. Single client networks are fragile and prone to downtime. With Fire Dancer, Solana gets a second client, meaningfully increasing its robustness. Granted, having a network that is one part Fire Dancer and one part of the older Solana client from the foundation is actually not going to work, since the whole network will be bottlenecked by the older client. But in my conversation with Austin, he said that the suggested architecture is that the Fire Dancer client operators run the older Solana client as a fallback, with Fire Dancer as the primary. So you run both, but Fire Dancer is the one that's really live, and then if there's a bug in Fire Dancer, then you switch back over to the old one. Kind of like the idea of if an escalator breaks, it just turns into stairs. The other thing that I thought was interesting that I saw out of Solana Breakpoint was Solana is token 22 package, software package. Nothing to do with token 2049. Token 22 is a token and software enhancement package that comes out of the box for Solana, and it was developed in the year 2022 and released in 2023, which is why it's named like that. This software package brings a ton of additional functionality to Solana tokens, including custom permissions and confidential transactions, aka privacy, which is pretty cool. It's pretty damn cool that they have privacy on the layer one. It's not privacy on the layer one. It's like opt in confidential transactions. It's like conditional privacy. And then like the custom permissions is like you can create like a permissioned environment for certain rule sets. For further rabbit holes on what makes this Solana community excited, listen to the second half of my conversation with Austin and Anatoly at Breakpoint. In conclusion, am I bullish Solana? Solana has certainly captured more of my attention lately. So what's the deal? Is Bankless finally bullish on Solana? Or is David's attention truly being captured by the Solana community engagement attacking him inside of the arena of Twitter narrative warfare campaigns of which Solana has learned with deadly precision in the last year? Or is it something else? To be honest, I don't have an answer here. Chris Berdinsky recently attempted to try and shoehorn me into either bullish or bearish soul on Twitter, which I was frustrated by. How I intend on engaging with the Solana community in the future, I will let the future decide I do know that I vibe with Ethereum community at a very deep level and the part of the spirit of Ethereum I find meaningfully absent in the Solana community. It was disheartening to see a fully packed room during a panel conversation on Solana validator economics. And then when the next panel came to discuss the future of Solana community governance, the room totally emptied out. Perhaps it was as if the Solana project has never meaningfully invested in community ownership and meaningful decentralization. So why would anyone attend a panel about governance? Or maybe these conversations are just getting started and I'm selling this part of Solana short. Time will tell. As for now, that was everything I learned at Solana Greatpoint. Thanks for listening.
Bankless
A highlight from What David Learned at Solana Breakpoint
"Bankless Nation, welcome to David's Takes. David's Takes is a semi -regular segment on Bankless where I write an article for the Bankless newsletter and I read it to you here on the Bankless podcast for all of you out there like me who can't read or just prefer audio content. This take is everything I learned at Solana Breakpoint. Dear Bankless Nation, I just returned from my fifth and last conference tour of 2024. The pursuit of knowledge, relationships, and experiences takes me to some interesting places all over the world and I am blessed that I'm able to turn my travels into interesting content for you, the Bankless Nation. This last tour was a little bit different than my typical crypto conference endeavors. For the first time ever, I went to a non -Ethereum conference and I'm not talking about a generalist conference like Permissionless, which covers the entire industry, I went to Solana Breakpoint, which is produced by the Solana Foundation, much like how DevConnect or DevCon is organized by the Ethereum Foundation. It's hard for me to get a sense of reality these days as Elon continually changes the Twitter algorithm and the internet meta has shown the exploitability of Web2 platforms to optimize for engagement. As someone with deep ties to the Ethereum community, my only perceptions of Solana is through Twitter, which is a terrible lens for viewing anything these days and especially in crypto, where tribes continually defy in the arena of crypto Twitter to distort perception to their favor.
The Bitboy Crypto Podcast
"solana" Discussed on The Bitboy Crypto Podcast
"So looking for the big coins are still going to be there for swing trades. I wouldn't get too off, you know, like don't get too disheartened if Ethereum is not moving for you. Right. Like that's a long term play. But being able to look for some of these lower cap coins, I do think there's opportunity there. And I did want to real quick say shout out. We got Uncle Brian in the chat with the membership and shout out to everybody in the chat. We shout, you know, we love all you guys. So yeah, Brian letting us know that likes are awfully low. So if you guys want to help us out, hit that like button. Let's get that up. Solana not going to 250 ever. Oh, no. Oh, it's going to recover. And I do want to talk about the fact that we know when the bull market kicks back in and people really want to start building on Solana again, NFTs were a big spot for Solana during the last run. And, you know, seems crazy. But that BONK meme coin, that Solana meme coin that's been absolutely sending. I mean, I think a lot of other networks are going to be open to getting in on the meme coin craze for sure. Yeah. I didn't take a mini BONK profits. I should have took a lot more BONK profits. If it pops again, I'll be definitely looking to take some profits there. Now, someone said some price predictions. Well, there's chat GPT price predictions. We'll just have a little bit of fun with this. They have price prediction, 24, 28, 32, and 2050 everybody. 2024 optimistic scenario, a hundred bucks. Skeptical scenario, 50 bucks. Suspiciously round numbers right there. I don't know how much thought went into this one. 2028, $200, 2032, $300, 2050 thousand dollars. There's no way it's only a thousand if it's still around. It's either zero or like 5,000, I would say. That would be my take there. I do want to just kind of cover the Solana trust shares surge. We were talking about TJ brought up a good point. Brayscale Bitcoin trust, you know, kind of predicted what was going to happen with Bitcoin in 2021. It kind of proceeded the dump in June and July. And then it proceeded the pump in the second half of the year. It looks like we're seeing the same thing with the Solana premium as well. So the grayscale Solana trust share surge to a 784% premium there. What does this mean though? So the shares are trading at a record $202 up from $87 with soul at $59. But each share of the trust, which is trading for 202 bucks, holds 0.38 Solana. That's an insane premium of close to 800% there. For context, grayscale's Bitcoin trust touched a record of 43% in July of 2019. So we're seeing a little bit of a front running here with institutional investors. But unlike the ETFs, holdings in grayscale trust don't directly track the market value of shares, which leads to price premiums and discounts in the products there. I do want to share, here's the important part. Bitcoin has, their Bitcoin offerings, they have $23 billion there. You see $23 billion in grayscale Bitcoin trust. Solana, it's only $6.3 million. So I think a lot of this is just, there's very finite shares here. Only $6.3 million of assets under management. And so we have a 787% premium there. So whatever 8.7x is on that, that's how much money's in. Because there's only so much. If they're to start cussing more Solana and offering more, you would expect that premium to plummet. But with only $6 million, there's a lot more money floating around on Wall Street than that. So that's my opinion on why we're seeing such a gigantic premium. Only $6 million to float around. People want Solana exposure. Well, let me ask you, somebody in the chat said, I didn't see it. Somebody said it'll never hit $250 again. Yeah, that's what they were saying. I definitely think it can. Yeah, yeah. Okay, that's what I was going to ask you if you thought it will. I mean, $258 is its all-time high from the last cycle. Do you think it will find a new all-time high in this cycle is my question. The recent price actions in the indication, yeah, VC money can still pump this bag, folks. So yeah, I think it can. You know, if you'd asked me a month ago, I would have said, I was public. I said, I expect a lot of resistance around $200. I kind of expected to pull back around $190. I think I even said $195 will probably be the top. The recent surge made me think that they can just totally render all those price targets obsolete. They could blow past three, 400 bucks and it wouldn't surprise me. Yeah. I mean, all of those things could be true too, though. It could still see very strong resistance at $200 and $250. You know, like it's a long path. I want you guys to remember, like it's easy to get excited when we see a lot of these, you know, all start popping off and things really moving quickly. Like we've experienced over the last week or two. It's easy for that FOMO to kick back in immediately. I saw a really funny meme that was like the Braveheart thing that was like, oh, when the price is going down, hold when the price is going down, then huge pops like, oh, buy now. That's not really the way you're supposed to do it, but that is the way you feel when you start seeing these prices move. But I want to remind you guys, we have a lot of time, you know, if we're seeing new all time highs for some of these alts and in, you know, price discovery for some of these things, that's going to be all the way through 2025. So we can see some push up to some of these levels and get hard rejected. I do think, you know, seeing some of the tether print happening recently, that's another thing that usually foreshadows a good run. I think they printed $4 billion worth of tether.
The Bitboy Crypto Podcast
A highlight from Is Solana The Next Ethereum Killer
"Can a Solana overtake Ethereum? We're seeing a lot of metrics that have a lot of people, their heads are spinning. They're surprised. They don't know what's happening. They don't know why Solana keeps continuing to pump, or we're seeing a lot of positive numbers. We're seeing active users skyrocketing. And also we're getting listed on Perpetual's futures on a very major exchange. You're going to want to check this out. This is Discover Crypto. Thank you for joining everybody. Welcome back, Rodney. We're talking about some altcoins. And now we're not going to talk about ranked 8 ,000 meme coins. Is that okay? We're talking about Solana. I guess we could talk about... Everybody's talking about Grok, I thought. That's right. Grok. Well, yeah. It was like, what? Maybe a top 200 at this point. Hit $186 million market cap. I just saw Kyle Chasse tweet, or Chasse tweet. He's like, I bought the top. Ah. You know, so it happened. As they do. Did you get in on Grok, Rodney? I did not get in on Grok. I faded Grok at 20 million. Sorry. Excuse me for not buying a meme coin. You know. It went up to 150, right? So you missed out on about a seven and a half X. It's still sending, yeah. All right. So you're only missing out on a 10X so far. So far, it's a 10X. But Rodney, you just got in last night, correct? Yes, sir. Yeah. How was that? How was it flying into the Atlanta airport? I heard it's... My fiance, she has Follow Atlanta now, and they're shutting down the whole airport. Apparently, it's like, you know, entire hallways are like two foot wide. What was your experience? Well, I actually drove here from Charlottesville, Virginia, so it was an eight hour drive, but very nice. Got to listen to Joe Rogge on the way here. Some of my favorite cryptocurrency channels. Okay. Yeah. All right. Well, speaking of cryptocurrency, let's just get right into the stories here, folks. We are going to talk about Solana in a bit, but first, let's look at the crypto market. We have Bitcoin down about 1%. Let me go ahead and hit refresh just in case we're getting a little bit fresher. All right. Bitcoin down 1%. But Ethereum is up about 2 % right now, XRP down 2 .5%. Solana is cooling off, folks. Solana is almost down to 5 % along with Cardano, but both of them had a positive week. Solana just had a 10 times better week than Cardano there, 38 % to a 3 .8 % pump there. So if you're holding Solana over Cardano, you're feeling pretty good. If you're holding both, you're wondering, you're looking at your Cardano bag, poking it with the stick, like the meme, come on, do something, do something. It'll happen eventually, folks. Just trust me. Then we have Chainlink down to 5 .5 % as well, but Matic is up. But we look, look at Celestia, Tia, Tia is up. We were talking about Tia, Tia is up 25%, 125 % for the week. Now, TJ, did you see any Tia actually, you saw Celestia? I mean, I know it's Drew's wife's name, so he's been big on it, but he actually, I think was talking about Celestia. Yeah, we did a short on it a while back. We noticed it when it very first popped out. Obviously it's strong in some of the Asian markets, a competitor, so to speak, coming out of nowhere. We're seeing, we're moving up very quickly through the top 100. I think it's ranked 65, 68, something like that right now. I mean, it was under 100 a week or two ago when we first covered it. Definitely something to keep an eye on. And this is something that's important that I wanted to mention on today's stream. As we're getting into a new bull market, there's a lot of different ways to look at different altcoins and value different things. When you're building out your portfolio, there's something to be said for projects that have been around for a little while that you know are going to perform into the bull market. Again, we've looked at them a lot. They're in the top 20s, top 50s, the Maddox, the Mutables, the avalanches, the Solanas, kind of the big performers of the last cycle. However, the ones that tend to have the most explosive gains can be the things that are launching around this time, the newer things. It'll be interesting to see if that trend proves through in this cycle. But Tia, Celestia would be one of those ones that it looked like tech had been around for a while, the team had been around for a while, and they were waiting for the right time to launch to really capture attention in this bull market. So watching how those perform over the next few months, I do think is going to be key. We're going to be doing a deep dive on Celestia coming up in the next week or so. I have some of that going into the works. But watching layer ones, layer twos in the narratives, obviously, in this cycle, I think is going to be a good strategy if you're looking to make those gains. All right. But speaking of gains, we also have the other side of the coin, and that's the losses, folks. The biggest loser is Rollbit for the day, down 10 percent and then Kronos. But if you look at the week here, the biggest loser is Trust Wallet and then followed by XRP. Oh, no. XRP was the number two loser for the week, folks. So it's just interesting to see a top five coin be one of the biggest losers right there. Nio, Nio as well. Nio is down now. Nio is on a video I'm working on right now, the top five coins out of Asia, everybody. And Nio is one of the five. So that might be one. All right. I'll be joining in in a second here. But I think it's time for us to talk a little Solana here. Now, Rodney, what are your broad thoughts on Solana as a sign in real quick? Yeah, well, I think that could be one of the bigger comeback stories of this next run, because really the reason why it dumped down so much, because look at everything dumped during the bear market. But the reason why it dumped down significantly was the negative association it had with Almeida Research, Sam Beckman Fried and stuff like that. But now that we're putting all that stuff behind us, it's probably going to recover. I mean, beside what the occasional network outage is, it's actually a pretty solid project. So a lot of people bought that dip understanding that the reason why it was down wasn't because of function. It was because of the negative publicity. Just like Elon Musk going on Joe Rogan's show, smoking some, you know, green and then dumping Tesla stock. Yeah, I always talk about that podcast. I saw that podcast and I remember thinking, oh, wow, this guy is incredibly bright. I would want to own Tesla stock. A lot of people say, oh, yeah, let's dump it. Well, Solana is overtaking Ethereum by active users after a 70 % spike. Everybody let's look at some of the numbers here. So this is according to Arnimix, they had 356 ,000 unique users on Saturday beating Ethereum's 330 ,000. So beat them by 26 ,000 right there. The milestone was driven by a sharp uptick with the network hosting only 200 ,000 just one week ago, less than a week ago. So it was $100 ,000 less. For comparison, ETH consistently holds around 300 to 350 with two brief spikes above 400k in a surge of more than 1 million wallets. But the price of Solana has plummeted. Is it still more than 96 % from 2021 high of 250 bucks? Does that sound right? I don't know about 96%. Yeah, no, no, that's not right. At one point, at one point when it fell to $10 in January, active addresses on the network shrank 85 % from over a million, 1 .28 to around 200 ,000 this September, according to the block. But Solana refused to stay down and now it is up 145 % just in the past four weeks. So everyone holding on to the profit feel good. And then some analysts have been quick to pronounce that Solana has flipped Ethereum by active users due to the recent uptick. However, the ecosystem has expanded beyond its base layer with the majority of ETH activity now taking place on layer two. So Solana may surpass Ethereum, but there's a giant asterisk because if you want to incorporate little activity, two well, Ethereum, the EVM as a whole greatly surpasses Solana there. But TJ, what do you think about Solana ever surpassing Ethereum as far as, you know, being the number one chain? What odds would you, would you put it less than 5%, less than 1 %? No, I think what you just said really matters there by what metric, right? You know, so you've got transactions, you've got daily active users, you've got a market cap, you've got volume, you know, there's so many different metrics to measure a chain by. So I could see it passing it in transactions one day. That's what it's designed for, right? If you get some good, if you get some good games running on it, you could see it hit higher active users, higher transaction or, you know, but volume, probably not, you know, like DeFi is going to most likely live on Ethereum for the foreseeable future. We talked about that a little bit last week. The ecosystem really matters there. And so I think what we're seeing right now in price gains in the short term, sure, it could, it could outperform there. And I think part of what we should talk about here today is why we saw all that price movement happening over the weekend. And I think, I think you've got my screen here, BJ, you can pull it in here, but some of the factors that came up on this article on Cointelegraph, why Solana Price woke up this week, it really has to do with, you know, obviously FTX getting reopened back up. A lot of people thinking there's less likely for Alameda and what's held on the FTX balance sheet, less likely to dump.
The Bitboy Crypto Podcast
A highlight from Crypto News Updates: Solana, XRP & ADA Pumping!
"Are we back? Altcoins are pumping, stablecoins are getting an upgrade, and the NFT community is joining hands. I'm Hannah and I'm going to fill you in on this week's events in cryptocurrency. Chainlink is up 34 % this week and the hype surrounding LINK is something to pay attention to in my opinion. The Grayscale Chainlink Trust, GLNK, has been trading at a 200 % premium to the spot price of Chainlink, LINK, indicating strong institutional demand for the cryptocurrency. This is the highest premium that GLNK has ever traded at and it suggests that institutional investors are bullish on the long -term prospects of Chainlink. The fact that GLNK is trading at a premium to the spot price of LINK suggests that there is more demand for shares of the trust than there is for Chainlink tokens themselves. The strong institutional demand for Chainlink is a positive sign for the cryptocurrency overall as it suggests that institutional investors are becoming more and more interested in investing in digital assets. And they think that Chainlink is a valuable one. XRP surged nearly 10 % this week and surpassed Binance Coin BNB to become the fourth largest cryptocurrency by market cap. This pump was likely due to two key announcements from Ripple, including approval to operate in Georgia. The National Bank of Georgia selected Ripple to develop its central bank digital currency or CVDC. This is a major win for Ripple as it shows that governments are increasingly interested in using Ripple's technology. Ripple also received approval to offer its services in Dubai. This is another major win for Ripple as Dubai is a global hub for financial services and crypto. These two announcements show that Ripple's technology is in high demand and this is likely driving the recent surge in XRP's price. Ripple is also facing a number of positive legal developments which is further fueling investor confidence. Overall the outlook for XRP is very bullish at the moment and I think XRP is worth paying attention to. Cardano has also pumped 10 % over the past seven days and this is due to a number of factors including a recent conference, the Cardano Summit, that was held in Dubai. Circle, the issuer of the popular stablecoin USDC, has recently announced a new upgrade to the USDC and EURC smart contract. This upgrade, known as V2 .2, includes a number of improvements that will make USDC and EURC more efficient and user -friendly. One of the most important changes in V2 .2 is the addition of support for EIP -1271. This will allow smart contract wallets to authorize transfers of USDC and EURC which will improve support for account abstraction and make it easier for users to pay network gas fees in USDC and EURC. Another important change in V2 .2 is the optimization of the block listing check. This will make it significantly cheaper to transfer, transfer from, transfer with authorization, receive with authorization, burn, and mint USDC and EURC. These improvements are likely to boost the adoption of USDC and EURC, especially among developers and users of Layer 2 blockchain solutions. The Layer 2s that are used by USDC and USDT, such as Arbitrum, Optimism, Base, and Matic, are likely to be the most relevant. Okay, so how will this impact the further adoption of stablecoins into the geopolitical landscape? This is likely to be accelerated by the improvements in V2 .2. This is because stablecoins offer a number of advantages over traditional fiat currencies, such as speed and efficiency, low cost, and transparency. Overall, the improvements in Circle's USDC V2 .2 upgrade are a positive development for the stablecoin industry, and these improvements are likely to boost the adoption of USDC and EURC, especially among developers and users of Layer 2 blockchain solutions. The co -founder of Yuga Labs and board ape yacht club Gordon Goner on X is single -handedly saving NFTs. This guy is a Chad. He mentioned in his bio that he's taking a break for health reasons from Yuga Labs, but he still claims to be an ape until he dies. Now that Gordon has parted with Yuga in some ways, he's decided to show love to the NFT projects that have been building during the bear market. Gordon posted photos of his newly acquired NFTs over the past week, and some of the projects include CryptoPunks, Pudgy Penguins, Sappy Seals, Goblin Town, and many more. Shoutout Gordon for bringing good vibes and a sense of community to crypto Twitter amongst all of the chaos. Grok is a new AI assistant developed by Elon Musk and his company X. It is designed to be able to answer questions in natural language, even about complex topics. Grok has access to real -time information via the X platform, which might give it a significant advantage over other AI assistants. Grok is currently available as part of an X premium subscription service that also includes other premium features on the app. However, Musk has said that he plans to make Grok available to everybody for free in the future. Musk has said that he envisions Grok being used as a general -purpose AI assistant that can help with a wide variety of tasks. Grok is designed to be witty, funny, and sarcastic. Elon Musk has said that he wants Grok to have a personality and to be able to interact with users in a fun and engaging way. For example, when asked for a step -by -step guide to making cocaine, Grok responded with a tongue -in -cheek answer that included suggestions such as obtain a chemistry degree and set up a laboratory in a remote location. I've been seeing a lot of screenshots of Grok interactions on my timeline, and it's cracking me up. Grok is still under development, but it has the potential to be a powerful and versatile AI assistant in the future. OpenAI engineers have allegedly come out stating that Grok is mocked in machine learning and AI communities and is analogous to a third -grader CS project. Would you place your bets on Sam Altman's ChatGPT or Elon Musk's Grok? Let me know in the comments below. The Simpsons is a popular animated sitcom that has been running for over 30 years. The show is known for its satire humor and its ability to predict the future. Over the years, the show has made a number of predictions that have come true, including the rise of Donald Trump to the presidency and the COVID -19 pandemic. In their 2023 Halloween special episode, The Simpsons predicted the rise of NFTs. In the episode, Bart Simpson becomes an NFT artist and his creations become incredibly popular. The episode also parodies the NFT community, showing how it can be full of scams and hype. Does this mean that NFTs are about to go parabolic, die, or does it mean nothing at all? Place your bets in the comments below. The Grand Theft Auto 6 trailer is coming out next month, confirmed by Rockstar Games on November 8th via X after announcing that Rockstar Games is turning 25 years old in December. We have been waiting for the Grand Theft Auto 6 trailer for nearly 10 years since GTA 5 was released in 2013. This announcement has everybody on X very excited. Which blockchain will Grand Theft Auto partner with first to bring the metaverse to the masses? Could GTA be the catalyst that onboards traditional gamers to Web3 or is there no possibility? Finally, I have a question for you guys. If you had 10k to spend right now and you had to pick one, would you rather put it in Chainlink, Solana, Cardano, or XRP? Comment down below. If you watched this whole video, I appreciate you. Please hit the like button if you haven't already and subscribe to the channel to be notified when we post a new video. I'll see you all next week.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: Crypto Update | What JPMorgan Analysts Missed About Bitcoin's Rally
"This episode of Markets Daily is sponsored by CME Group and PayPal. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now a markets roundup. After the hectic activity at the end of last week as markets reacted to BlackRock's filing of an EtherSpot ETF proposal, the weekend seemed like an oasis of calm. So far today, the market looks mixed. According to Coindesk Indices, at 9 a .m. Eastern Time this morning, Bitcoin was down two thirds of a percent over the past 24 hours, trading at $36 ,873. Ether was up one third, trading at $2 ,059. Elsewhere, Filecoin was up 14%, Cosmos was up 10%, Optimism and the Lido DAO token were up 5%. Solana was down 1 % after what has been an astonishing run. Over the past week, the asset is up over 40%. You may remember that in an early October episode, I pulled out the average performance of Bitcoin for the month of October going back to 2010, which was 27%. I calculated that if Bitcoin achieved that average performance during the month, the price would reach just over $34 ,000. Well, that's pretty much what happened. Do please note, I am not saying I know where the price is going, and the October result was pure coincidence, I don't have a crystal ball. But let's try the same exercise for November just for fun. November historically has been on average an even better month than October, with an average performance going back to 2011 of 44%. If this November meets its average, and it's a big if, that would put the Bitcoin price at just over $49 ,000. It's a pleasant thing to keep in mind. In macro indicators, today I have more news from the University of Michigan Consumer Survey. You may remember a couple of weeks ago, I talked about why this survey was worth watching. It's because of what it says about how consumers are feeling, which could impact future spending. Well, on Friday, we got the details for October, and there are some worrying signals in there. Inflation expectations one year out are now at 4 .4%, much higher than the expected 4%, and higher than September's 4 .2%. This is the highest level since May, which signals that the rate hikes are not doing what they're supposed to do, which is bring down corporate and consumer spending and reset expectations. The fact that consumer inflation expectations are more than double the official target is not nearly as worrying as the fact that they are heading up. And it's especially relevant since it is something Fed Chair Jerome Powell has said he keeps an eye on, as inflation expectations can influence behavior. This rise in the University of Michigan's survey result further confirms that rate cuts are not on the table just yet, and probably won't be for a while, at least until this number comes down to close to 2%. The University of Michigan inflation expectations for five years out also came in higher than expected at 3 .2%. This is lower than the 12 -month expectations, which is good, but it does send the signal that the Fed's inflation target won't be reached even in five years.
Markets Daily Crypto Roundup
A highlight from Crypto Update | What JPMorgan Analysts Missed About Bitcoin's Rally
"This episode of Markets Daily is sponsored by CME Group and PayPal. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. And just a reminder, CoinDesk is a news source and does not provide investment advice. Now a markets roundup. After the hectic activity at the end of last week as markets reacted to BlackRock's filing of an EtherSpot ETF proposal, the weekend seemed like an oasis of calm. So far today, the market looks mixed. According to Coindesk Indices, at 9 a .m. Eastern Time this morning, Bitcoin was down two thirds of a percent over the past 24 hours, trading at $36 ,873. Ether was up one third, trading at $2 ,059. Elsewhere, Filecoin was up 14%, Cosmos was up 10%, Optimism and the Lido DAO token were up 5%. Solana was down 1 % after what has been an astonishing run. Over the past week, the asset is up over 40%. You may remember that in an early October episode, I pulled out the average performance of Bitcoin for the month of October going back to 2010, which was 27%. I calculated that if Bitcoin achieved that average performance during the month, the price would reach just over $34 ,000. Well, that's pretty much what happened. Do please note, I am not saying I know where the price is going, and the October result was pure coincidence, I don't have a crystal ball. But let's try the same exercise for November just for fun. November historically has been on average an even better month than October, with an average performance going back to 2011 of 44%. If this November meets its average, and it's a big if, that would put the Bitcoin price at just over $49 ,000. It's a pleasant thing to keep in mind. In macro indicators, today I have more news from the University of Michigan Consumer Survey. You may remember a couple of weeks ago, I talked about why this survey was worth watching. It's because of what it says about how consumers are feeling, which could impact future spending. Well, on Friday, we got the details for October, and there are some worrying signals in there. Inflation expectations one year out are now at 4 .4%, much higher than the expected 4%, and higher than September's 4 .2%. This is the highest level since May, which signals that the rate hikes are not doing what they're supposed to do, which is bring down corporate and consumer spending and reset expectations. The fact that consumer inflation expectations are more than double the official target is not nearly as worrying as the fact that they are heading up. And it's especially relevant since it is something Fed Chair Jerome Powell has said he keeps an eye on, as inflation expectations can influence behavior. This rise in the University of Michigan's survey result further confirms that rate cuts are not on the table just yet, and probably won't be for a while, at least until this number comes down to close to 2%. The University of Michigan inflation expectations for five years out also came in higher than expected at 3 .2%. This is lower than the 12 -month expectations, which is good, but it does send the signal that the Fed's inflation target won't be reached even in five years.
Crypto Banter
A highlight from If You Missed The Crypto Rally, Follow This EXACT Roadmap!
"If you're feeling lost or underexposed after the recent crypto rally, then you've come to the perfect video. Because today, I'm going to be outlining my roadmap for crypto riches in the next bull run, running you through the five steps that you can follow to build the ultimate bull market portfolio. Yes, you haven't exactly timed the bottom correctly if you're watching this video and you don't have all your entries, but no, you haven't missed out on the opportunity to capitalise next bull run, as I believe this market in the right conditions can go much, much higher. And we can see if we look at the YouTube views, which is pretty much the ultimate retail indicator, retail is still hardly back yet, Bitcoin is sitting above $37 ,000. So the amount of potential this market has to grow once retail comes back in leads me to believe there are still massive opportunities. So there's no need to panic, no need to FOMO if you haven't got your entries yet. But what you must do is come up with a sound accumulation plan to make sure that you're building your portfolio in the right way for the bull run. And that's exactly what I'm going to run you through. In today's video, there are many ways to make money in this market, you can scalp you can day trade, you can swing trade, you can airdrop farm. But in today's show, I'm going to be focusing on the investing side of things, the slightly more passive side things that doesn't require you to pick it up as a full time skill. Yes, it's going to take some active portfolio management, if you really want to build a successful portfolio, but it's not as time intensive as some of the other strategies that you might be following in the market today is purely focused on the long term investment side of things, how you can build an underlying portfolio to keep yourself steady and maximize upside for the next bull run, whilst also building a nice foundation for if you do want to trade and if you want to do anything additional that you can stack on top, I believe this strategy is complimentary to trading strategies in the market. So it's not a one or the other thing. But it is about setting up some nice foundations. So in light of that, where do we currently sit? Well, although the altcoin market has had a pretty big pump and Bitcoin has had a big pump, I believe we're still in an accumulation phase. Technically, we are still in the year pre halving. And typical Bitcoin bull run peaks don't tend to happen until the year after the Bitcoin halving, which would be 2025, late 2024, when things really start to pick up. Of course, every cycle is going to be a bit different. Maybe we are seeing things shift a little earlier, maybe not, maybe it shifts later, we can't time it exactly. But what we do know is generally, we are in an accumulation phase. So the goal of an accumulation phase is to stack as much crypto as possible via any means possible. The way you do this is obviously where all the nuance is. And this is where you're going to exhibit the difference between the 2x return next cycle and a 20x return next cycle. I think if you stick to the principles in today's video, there's a good chance that you can be aiming for that 10 to 20x portfolio value next cycle versus many people who are just simply going to ride it all the way up and then end up round tripping it all the way back down. Because accumulating through any means possible doesn't mean just accumulating after every pump. There's actually a strategy that I want you to follow in order to get better entries on altcoins. And that's what we're going to talk about now. So the first thing that you need to do if you want to build a successful portfolio is create a watch list. It sounds so simple, but it's something people often get wrong. They see these new coins cropping up on Twitter, they get tempted to ape in, when in reality, you should have a really organized for system having your watch list. So before you even think about buying, make sure you have a clear watch list identified. And this process can take months, this process can take years. But what happens is as you research, as you watch more videos, as you experience new things, as you learn things, you gradually refine your watch list, you get rid of coins that maybe aren't performing so well, and you add coins that you find out about that you're bullish on, and eventually you end up curating a really nice watch list. So the easiest method to start with when it comes to building a watch list, this is even before we get into any of the buying stuff, is to start with the individual sectors or narratives. So what I would do is I would pick two to three verticals you're most bullish on and start your research there. Niche down into two sectors that you really, really believe in. Some of the examples of the sectors that I find interesting are in front of you. I think AI is interesting, real world assets, gaming, ZK, LSDs, DEXs, SocialFi, NFTs, pick maybe two, three of these sectors and really start narrowing in on those sectors. I really like to build my portfolio around these major sectors because I believe crypto doesn't operate in isolation. There are many growth verticals which are going to help crypto achieve massive option, and there are certain growth verticals out of those that are going to end up outperforming. And the ones that I specifically like, I do want to concentrate a bit more of my portfolio allocation towards those narratives. For example, if you're really into crypto gaming, this could be a logical place to start research the gaming space and start positioning yourself there before you start creating a watch list for some of the other sectors. But of course, over time you'll build out a fully fleshed out watch list around all of your favourite narratives. So what I would do to build a watch list, I wouldn't do it in Apple Notes, although you can, I would do it in Trading View because Trading View has this amazing yet very simple feature which allows you to build individual watch lists. I would make a list called buy list or accumulation list. And what I would do is whenever I find a coin that I am interested in buying, or I know I want to buy a coin, I would just add it to my buy list because this will be your list that you know that you can look at every single day in order to monitor those coins and also get your entries on those coins. So having it all condensed in one place on Trading View is really handy. And what you can do is you can sort by colour in one of two ways. You can sort colour based on the narrative. So I can make let's say any AI project orange and any L2 green. Or you can also do it in terms of market cap, have like, you know, red for your large caps, green for your small caps, however you want to colour code it, you can do that to make it easier for you. So then you can go into your red list and your blue list etc. And actually sort by major caps, small caps, mid caps. So organisation is really key here in terms of making sure your watch is super organised because it's going to make it easier for you to actually keep track of this journey. I think most I know it sounds so simple, but most people don't do this. Most people don't have an organised watchlist or an organised spreadsheet. And this is the first step to successful investing, right? If your mind's not organised, how can you expect your portfolio to be organised? I mean, it's just so important. If you do want to fully maximise your portfolio management, because it's not just buying, that's the trick here. It's managing, it's awaiting allocations, etc. So it all starts with having good setups. So in order to do this, we'll head into step number two now. And that's creating a journal in Excel. So after you've got your watchlist into trading view, this is when you want to go a little bit deeper, because the trading view watchlist is the coins you want to buy. But on Excel, you start to enter some logic. So I'll give you an example of how I would do it. I would list all the coins I'm interested in buying. This is a sample portfolio. Then I would have a column which says my thesis, time horizon and invalidation and risks. So for example, for Ethereum, I've written down my thesis, which is it has a diverse ecosystem. It has first mover advantage versus other L1s. It has institutional interest, which is set to ramp up. And it has proven staying power within the industry. I've put my time horizon at five plus years because I view it as an extremely long term bet. Now, obviously, taking profits can happen at any time in between this period. But it's important to have a time horizon established because certain investments will be more trade based and certain investments will be more long term. And I would also put my invalidation slash risk. So for Ethereum, I've said the major risks are it can lose market share to other L1s like Solana, for example. It could have technical risks if there are any major upgrades gone wrong, because I know they're doing a lot of network upgrades. And another risk could be the invalidation of one of my main key thesis points, which is institutions are piling into Ethereum. Maybe they don't choose to or they opt for other coins or Bitcoin, etc. And this would be an invalidation. So I would go through my entire portfolio and I would enter in the thesis for each coin, time horizon and invalidation. Why? Because at any given moment, you're going to be able to go back and say, why did I buy Injective? Oh, it's because this is my thesis. Why did I buy Ethereum? Oh, it's because this is my thesis. And then before you panic sell to rotate into a new hot coin on crypto Twitter, you can actually go back to your thesis and look, okay, am I still bullish? Are the reasons I was bullish then still the reasons I'm bullish now? And you can answer yes or no. And you can tweak it over time. And this helps remind you why you bought a coin in the first place. Because so often people just buy coins because they're hyped. And then they're like, I actually don't understand what this coin does. Why am I holding this coin? Well, that's something you need to avoid in order to create a successful portfolio. Because if you don't have conviction in a coin, how are you going to hold it through the rough times? And who's to say you're not just going to rotate out of it if you don't believe in it to a hotter coin, a shinier coin, if your coins underperforming, right. So it's very important to have everything documented in an Excel or a Google Sheets or however you want to track it. So you actually it's like a trading journal, right? So you have your thesis clearly outlined for each coin. Another thing you can do to go a step further is actually conduct a SWOT analysis for each coin. This is actually an amazing practice that I highly recommend doing. And it basically means once a coins in your watch your trading view watch list, and once you're starting to populate it into the Excel, actually go fill out a form, it can be done on a on a Google Doc, and you can link that into your original Excel. So I'll show you what I mean, you can create another column here, which says SWOT, and then you can have the Google Doc link entered in here, click on that, it'll open up a new document, or if it's on your desktop, then you can link it to another document on your desktop, which basically means you'll you'll have an individual study, a SWOT analysis study for every single coin that you've actually gone and researched. And this is a great learning experience. Because when you're trying to find the strengths, let's say for Ethereum, the weaknesses, the opportunities, the threats, you're going to come across new ideas and new thought processes. And let's say for Ethereum, you can think of the strengths, you know, the opportunities, you know, some weaknesses, but you can't think of any threats. Well, that's a great gap in your understanding that you can explore and prod further. So you can look for counterpoints, you can look for content, which actually challenges your theory, you can ask people in the space. I mean, we I answer a lot of questions and DMS, etc, on Twitter, but I know Randals and the other hosts do as well. And also other experts in those niches, I think are also super accommodating if you have any interesting questions. So by filling out these sheets, you're going to get a much more detailed analysis on your favorite old coins. And this will help you develop your theses as well. So underrated little trick here is to actually do a SWOT analysis for each coin and link that into your spreadsheet. I'm basically trying to practice here healthy habits when it comes to portfolio building, because I can almost bet 99 % of you probably don't have an Excel that has in -depth theses and plans and invalidations for every single coin you hold. Most of you probably just ape into coins on a centralized exchange or maybe on DEXs and that's completely okay. Nothing wrong with that. But I'm saying if you want to maximize next cycle, it's time to level up. It's time to get serious and it's time to plan because if you don't, you'll be left behind and maybe some of you have the taste of being left behind from the past couple of weeks. I know a lot of people have been asking me, you know, have I missed it? Is it too late? Well, it's not too late, but it is going to be too late soon if you haven't got the right plan in place because things can happen super quick in this market as you've seen. So now for step number three out of the five step roadmap. Now it's time to determine position sizing. And this is the most subjective and nuanced step in this video because obviously how much risk you allocate to a low cap will be different from you to the next person, right? Because I don't know your financial situation. You might have a family you need to support, you can't take much risks. You might be young like me and be willing to, you know, risk it all and you don't really care. If you lose money, you may be super wealthy and you're only playing around with 5 % of your net worth. And if you blow it on crypto, you don't really care. To some people, you might really care about losing money, right? And you might want to be a little more conservative. So it really depends on your situation and your goals. Do you want to hit a million dollars next cycle? Do you want to hit a hundred K? Do you want to hit 10 million? Like, it really depends on your situation. So this is something only you're going to be able to work out. But I'll give you an example of how I would determine position sizing. So on the Excel, I would add a column for percentage portfolio weighting. So this number is going to represent your ideal position size for each coin. I'll show you what I mean. So for example, for Ethereum, I've allocated in the sample portfolio 20%. So $100 ,000 portfolio, that would be $20 ,000. And I've allocated percentages for all the other altcoins based on $100 ,000 portfolio. And you can tweak this number as you wish in order to get the representative figures when you make your own sheets. But what this is going to do is give you an idea of how you actually weight risk. Now, how do you determine how much percentage to allocate to each project? The easiest thing to do is break it down by either sector. So you can go like, let's say 30 % towards L1s, 15 % towards L2s, whatever verticals you're bullish on, as we discussed before, you'll allocate heavier to those. Verticals you're less bullish on, you'll allocate less heavy to them, right? But my preferred method is actually not by sector, depends how your brain works, but I prefer to do it by market cap. So large caps, I might allocate 40 % towards, mid caps, I might allocate 30 % towards, small caps, I might allocate 20 % towards and micro caps, anything under $10 million, I'll allocate 10 % towards. So this is one way that can help you structure it. What you can actually do is you can create a pie chart. So once you've got the size right of all the coins, you can create another column, link that to your allocation percentage, and then make a pie chart and actually see how much of your portfolio is mid caps, large caps, small caps, and micro caps. That's a big tip that I have for you, because that's going to help you get a view of how much risk you're taking with your portfolio. And look, as I said, for some people, your micro caps might be 30%. You just might want to hit the lottery next bull run and make 10 million or make nothing and you decide to do that and go, you know, you want to go 30, 40 % on micro caps, knowing that you could blow it all. But some people might prefer to go, no, I like, you know, I'm happy with the three to four x next cycle. I'm just going all large caps. I'm just going to go Ethereum and Solana and a couple others, and that's it. And, you know, make my maybe three, four, five x, I'm not interested in the 100x stuff. And that's completely fine as well. That's why it completely depends on your personal situation. And step number three is the most subjective one. But hopefully just by writing it down and allocating per sector, this gives you a good idea of how you want to structure your portfolio. And you'll get a pretty good feel once you start to track your portfolio in real time, as to how volatile your portfolio is, you might realize it's too volatile, you might realize you're not getting enough upside. So the beta is not correct on crypto pumps. So you'll actually know over time. And this isn't anything set in stone, you can tweak over time, if you want to go more risk on when the market's more aggressive, you can do that. If you want to less risk on when you want to be more conservative, you can do that. No one says your portfolio has to be set in stone all the time. This is where you allocate to fresh accumulation. So now you've assigned your weightings, it's time to plan your entries. How do you do this? Well, you have a trading view already set up. So this is going to be your number one port of call when it comes to market out levels. What I would do is I would go through that entire trading view by list that you've mapped out. And I would set key horizontal support levels on a high timeframe like the monthly or the weekly. And then I would draw in the levels where I would look to accumulate. So let's use dydx as an example, you can go into the weekly you can mark out clearly range lows a dollar range high was $2 .70. And your next major resistance level is at $4 .20. So your green accumulation zone is your ultimate support by this is your range low support. We may not get there. But this is where you want to put in limit orders, right? Your yellow box, you would have a an alert on trading view set up for when we hit this zone. So you'd create a little alert here, it'll ding on your phone, you can say as your message, you can say dydx buy zone. And what this will do is it will track when we drop back down into that zone. So you can and you can also set a limit order there. And then you have your red box, which is the same thing. So when you break above, you get that alert. When we come back down on confirmation, you can make a buyer. So for the green box, this is something you could have set a passive limit order on an exchange automatically do it, you don't even need to do it yourself. Just let it happen. If it gets back down there. For the orange and the red zones on altcoins, these are more active positions. So use the trading view alert function when you get alerted, then you can make your decision on exactly when you want to DCA. But you probably should stick to your plan once you outline it, right? If you if you make a plan that you want to accumulate on the retest of dydx range high, then when you actually get there to the chat to the point of accumulating, don't flinch, like you actually have to follow through on your plan. So what I would actually do is I would even write in some text here, I would go to settings, I would write in some text, I would say accumulate on retest, if x, y and z, you might have some technical parameters that that you want to like add in, if you're a bit more technical, like, you know, I want to see RSI up on the upswing, I want to make sure there's a four hourly confluence with the retest, whatever, all those technicals that you can kind of stack on top. But it's really good to actually write this down. So on trading view for each coin, you're going to have your levels on the weekly on the monthly, like dogecoin, for example, a major support level I would look at is the five seven level, this is an area that I would be interested in setting limit orders. So the more limit orders you can set the better if you can set limit orders on exchanges and just have some capital across a few different exchanges, have your limit order set and forget about it, that's the best, because then you're not going to panic when price gets there. A lot of the time what will happen is price will actually get down to the support and then people get bearish, right? They bearish here, they bearish here, they bearish here, they bearish here, they never want to accumulate in the support range. Then when the price starts pumping, they're like damn next dip I want to buy right and then it goes back down. And then when it dips down, you don't actually end up buying because you're psychology and the back and forth of wrestling with emotion and basically forcing you to buy in when you have a predetermined level that you want to buy in. For the DYDX example, you do have that predetermined level on range low, but because price is pumped, you now have to potentially look at buying on confirmation of the retest of key breaks of resistance levels flipped into support. So this is going to require a bit more nuance than just setting limit orders. But that's just a reflection of where that coins out every coins in a different zone, right? And every coin has a different scenario, like for fracks, you might say, okay, on the break of 760, I want to buy some fracks, because this clearly shows that it's reverse downtrend, for example, and then you would set that order once you've broken above. So it's not a perfect science. But what this does is it kind of forces you to stick to a strategy when the levels are in your trading view, and your plans are predefined before price gets there, then when price gets there, you should just be sticking to your plan. So you should be having a plan for the next six months on levels accumulation across a variety of coins. And you should know exactly when you're buying and you should know exactly what happens if price keeps pumping. What level are you actually going to get interested at again? So let's say the idea smashes through the highs, you know that you're probably going to buy the retest of range high on the high timeframe, right? So have all those scenarios planned out, then you're never gonna have to form it because even if price pumps, you've got a plan for that. And if price dumps, you've also got a plan for that you've got your limit orders, right? So you should be planned either way for either scenario. And if you want to get nuance with timing entries, you can even stack on additional tools like AI, etc. to get better entries. For example, Kyber AI, you guys know how I like the Kyber score in order to track momentum. When you do see a momentum swing on the Kyber score, that could also be an indicator that you can use in confluence with let's say the retest of that range high as we discussed before, in order to get your exact entry when your trading view alert goes off. And you can use all sorts of on chain data to snipe an even better entry. So it just really depends on your level. Some people prefer to be more passive and just DCA and whatever. But if you're a bit more active, you can start to stack these tools in order to get slightly better entries. And for more advanced market participants, a website like Kyber AI, I think is a good one. So there's a link in the description below to get beta access to Kyber AI for free. It's a free platform, if you're interested in that. So hopefully that accumulation plan makes sense. I think it just boils down to take advantage of fear. Typically, these support buys will happen after major sell offs. And the major sell offs typically represent the strongest opportunities in the market. I mean, just look at Solana. The two biggest FUD events were the two events that ended up being the best buying opportunities for SOL. And these were actually areas where I publicly said that I was buying Solana and they ended up being amazing buys up, you know, four to five x now. So buying fear in this market is definitely the strategy when you're aiming to build positions for the long term. Okay, let's go to step number five. Now, this is a really, really important one. This is keeping stables on the side for new projects. So I do this for two reasons. One, some of the best performing projects next cycle haven't even been released yet. Newer shiny objects tend to outperform their older counterparts, because there's less suppressory effect on price, due to the lack of underwater bag holders on new coins versus old coins. So what are old coins, there are a lot of bag holders, they can still explode, it doesn't mean they can't perform well. But just typically new performs can have that more aggressive thrust to the upside because there's less kind of dampening due to supply pressures, right. So keeping stable coins on the side for new projects is really important. Not only because of that, but because of the fact that new projects often solve the needs in the market that the old projects couldn't solve. So they usually launching and not all new projects are good, some new projects are rubbish, but really quality new projects are launching because they know that they fill a gap in the market that other projects couldn't, or they're improving on the technology that other projects have already established. So there's a benefit there as well. And the second reason why I like to keep stable coins aside is because it prevents you from recklessly rotating out of existing holdings. So if you have no capital, you're probably going to be more willing to sell let's say your Solana bag if it's not performing well to rotate into Stacks because Stacks is performing well. But if you have capital on the side, right, you have actual cash, you don't need to sell your Solana because you have cash that you can deploy into Stacks. So you're less likely to rotate out of your Solana into Stacks because you got capital to buy it. So one of the biggest tips for just not giving up on a bag too early is just keeping stable coins on the side. It's such a basic thing, but it's something so many people don't do. They get too greedy at certain times and don't hold enough cash. And then they get to risk off at certain times and hold too much cash. The key is keeping a balance. And I've been in both camps. There's been periods where I've held too much cash. And then there's I've kind of learned my mistake here. And for most people sitting around the 20 % mark in cash is not a terrible idea in terms of your crypto portfolio. Once again, this comes down to your risk tolerance, etc. As long as you have something that prevents you from FOMOing into these shiny coins with old positions, because this happens every bull run, you want to FOMO into the new coins. But it's just better if you if you're not forced to sell. Forced selling is horrible, often leads to a really subpar result in terms of your exit price. Much better just to have fresh capital used that's and reserved solely for the purpose of buying into newer coins. So this isn't to say that you can't tweak allocations over time. I think you should always tweak allocations. As prices pump, you can take profits, rotate into other alts, take profits into USD. As income comes in from other income sources, you can put that into the market. Some coins you might realize, okay, say is not really realizing its vision. Maybe you don't think they're executing very well. The team makes some mistakes. You can actually delete that off your watch list at certain points and add a new coin that you think's better. Like there's nothing saying the portfolio you build now has to be set in stone. But there's something to be said for starting to plan and having a system. Because once you have a system, then you can plug and play any old coins into that system. Once you have your watch list, have your Excel, it's easy to make small modifications versus overhauling the whole thing once every few months. It's better to just tweak it slowly over time. And I think it's actually very smart to make tweaks over time, because that enables you to be adaptive and it means you're not always stuck in old positions that might not be so favorable when there's new trends in the market. So always maintain adaptivity, but don't be rash. That's pretty much how I want to summarize that. I want to give a quick shout out to one of our official show sponsors now, which is SmartX. They actually did $5 .1 million in trading volume this week. So if you are looking to farm, they have a very good system which reduces the negative effects of impermanent loss, and in some cases can lead to impermanent gain across their LPs, across the networks Ethereum, Polygon, Arbitrum, BNB and Base. They recently just jacked up the APRs on Ethereum and BNB. They lowered them on Polygon and Arbitrum. So if you do want to look for some of the opportunities with additional multipliers now, you can look for example, on the ETH side on some of these pools, which have a higher APR. And as I said, it's not your typical AMM. They have a proprietary algorithm which makes impermanent loss less of a headache compared to other AMMs, for example, like Uniswap. And if you go onto their homepage of their website, and you click on simulate the algorithm, you can actually compare the performance of pools compared to pools on Uniswap. So you can scroll through and get some examples to see how SmartX actually works in practice, which is a nice feature as well. So there's a link in the description if you want to yield farm on SmartX, or even if you want to swap, it's also a DEX, of course, that can get you some decent swap rates too. And yeah, just another great week of trading volume for SmartX. So well done to the team over there. And looking forward to keeping on supporting you in the future on these shows. So I hope you enjoyed this video. I hope you learned something. And even if one person watches today's video and builds a nice system, and ends up benefiting that from that next bull run that it was worth my time because I think 99 % of people will be too lazy to do the stuff I talked about today. Because I get it, it's easier sitting back and being lazy. But for the ones that are willing to put in the time and be proactive, you're going to be the ones I think that end up really reaping the rewards of this. So well done to you if that's what you're about to do. And I will see you in my next show, which will probably be on Tuesday. See you later. Peace out.
Crypto Banter
A highlight from This Strategy Will Make MILLIONAIRES In The Crypto Bull Market! (Watch Till The End)
"I want to show you the most powerful tool that I have in this bull market. Trust me, it's the way that I've made the most money since I started trading. We've just had a huge breakout in Bitcoin. I know it doesn't look like it, but Bitcoin has been battling this resistance line for a long time and we've just broken through the resistance line beautifully, beautifully right over there. And what that means is it means that we are getting into the next stage of this raging Bitcoin bull market. The next stage is going to be a much, much, much faster and much more vicious stage of the bull market. Up until now, we've been battling this resistance line, but once we get through it, we get into the next part of the Bitcoin bull market. And if our thesis is right, if our thesis has been right up until now, we are about 30 % of the way in this bull market. The first 300 days were the build up, the accumulation phase of the bull market. And the next 600 days is when all the action happens and we do something like this. So what does that mean? Well, it means that you've got about 600 days to make real life changing money. Because if you don't make real life changing money in the next 600 days, I think the next cycle for crypto is going to be a lot more relaxed, a lot more regulated, and to be honest, a lot less fun. What it means is that we've got 600 days left to make real life changing or wife changing money. Now listen, I've been in crypto for a long time. I've been around for the previous two cycles. I lived through this 2015 to 2017 high. I lost most my money. And then I lived through this 2021 2022 bull market. And if I learned anything in those bull markets, I learned two things. The first thing is that making money in a bull market only happens if you have a plan. If you don't have a plan, you ain't going to make money because what you're going to do is you're going to end up riding this bull market right up to the top and you're going to get flushed out because you don't have a plan. And the second thing I learned is that even if you've got a plan, if you don't have the right tools to execute on your plan, you have got zero chance of keeping your money. I've seen this twice. In 2017, I made fortunes and I landed up losing fortune. In 2021, I ended up making fortunes and luckily I ended up keeping it. So when it comes to making a plan, we have a great plan. And to be honest, we've been executing on our plan and our plan is performing. What we said is we said that we put 80 % of our money into this diversified portfolio, which by the way, up until today is up 60 % in just one month. It's a beautifully diversified portfolio that talks to all the narratives and has a well diversified number of coins. And you can see it's broken up beautifully. So that's our plan and we're executing as per that plan. 80 % of our money is going into that ETF and 20 % is going into a whole lot of small speculative bets that can really, really, really explode your portfolio. Things like the next Casper or the next Kojira. That's what our plan is. And if you want to know more about our plan, I'm going to leave a link to the video below where we actually devised the plan, where we actually made that plan. Today's show though is about the second thing that you need. I want to show you the most powerful tool that I have in this bull market. I built it because of what I learned in the previous bull markets and because of the mistakes that I made. And I want to show you the tool and I want to show you why it's so powerful. So listen, if you're watching this and you want more of this content and you want more plans, subscribe to the channel. Now's a beautiful, great time to subscribe. And if you're already a subscriber, just smash the like button. Let's get everybody else listening and let's get everybody else looking and using these tools to make you guys life -changing money in the next, well, 599 days now. So the tool I want to show you today is Banter Bubbles. And to be honest, when we built this tool, we never realized how powerful this tool was going to be. It's only when we started making real money on this tool that we realized exactly how powerful it is. So what is it? Well, here it is. Or in fact, here it is because it's available on iPhone, on Android, and of course, on desktop. What is it? It's a tool that's designed to show you how tokens are moving very, very quickly. The idea is that you can, with a quick glance, understand exactly what's going on with the bubbles. When the bubbles are green, it means they're going up. When the bubbles are red, it means they're going down. The bigger the bubble, the bigger the move. So you can see on today's bubbles, Neo is up 15 % today, FTT is up 80 % today, and Alluvium is up 30 .62 % today. Now, I always used to use this tool when I used to wake up in the morning, look at my phone, see if it's going to be a good day or a bad day, or if I was going to a restaurant and I snuck off to go to the toilet, I quickly went and looked at the bubbles, and I realized which tokens were going up and which tokens were going down. But that wasn't enough because knowing whether the why they're going up or down. And so what we did was we built a chat in every single one of the bubbles. So when you see a bubble going up, you click on the chat, and it's a place where the community gather and share alpha as to why the token is going up or down. So you can see the whole Casper community is gathered here in the bubbles. And it gave you an idea. The idea was to say, hey, the bubbles are going up, but why are the bubbles going up or down? And that's where the chat came in. But that wasn't enough. We wanted to give you guys more alpha, we wanted to make the bubbles more interactive. So what did we do? Well, we created a general chat. An idea behind the general chat was to say, you can sit down, you can watch every single one of the bubbles. And while you're watching the bubbles, you can see what the community is talking about in response to the bubbles moving. And there's a lot of alpha in this chat. In fact, this is where I'm starting to get a lot of my alpha. That's amazing. We then built a whole lot of features in the bubbles. Like for example, you can add filters. So you can add a filter over here. And you can say, I want to see the performance of gaming coins only. And there we go. It's now showing you the performance of gaming coins only. You can filter it even further by saying I want to see it on the hourly chart. And now I'm looking at gaming coins specifically on the hourly chart. You can add watch lists. So you go over here, you press on lists, you add a watch list, and you can add your tokens that you have in your portfolio. So let me add in Bitcoin. I have Bitcoin in my portfolio add token. Let me add it over there. I have Solana in my portfolio. Solana is doing fantastically well. I have Casper in my portfolio. I'm going to add it there. And so you can add your own, you can create your own watch list with just the tokens that you're interested in watching. So you can block out the noise. You can obviously do a whole lot of other things. You can see the top 100 coins or even go all the way down the list as you see fit. And if you like categories, well, that's simple. Just go to filter, find the categories that interest you, whether they're gaming, centralized exchanges, liquid staking tokens, metaverse, and click here, and you'll immediately see just those coins. So that's what we did. We built an amazing tool, but we weren't happy. We wanted to give you guys even more alpha. And even though our competitors thought we were crazy and the market thought we were crazy, we did something absolutely insane. We took the banter newsroom, the place where we get all of our research, and we added it to the bubbles for free, which means that effectively if you go onto the newsroom, you can see every single tweet, every single article that, that our 40 researchers are looking at real time. As we see them here, we have 40 researchers and what they're doing all day long is they are looking for research that we make our trading decisions with, and that we use to make our content. And it's all available right here for you to see. And to be honest for our competitors to see too, because we don't really care. People said we were crazy, but you know what we decided to do? We decided to double down. Not only did we make our entire newsroom absolutely free for everyone to see so that you can watch the news and watch the effects that the news is happening on the bubbles. We also gave people free access to our research call. This is a call that happens once every day with the entire banter team. And it's where we discuss all the alpha for the day. And we discuss what we're going to put into our shows. It happens about six hours before our shows.
CoinDesk Podcast Network
A highlight from MARKETS DAILY: CoinDesk Market Index Week in Review
"This episode of Markets Daily is sponsored by CME Group and PayPal. Wondercraft AI Voice here to give you three crypto markets takeaways from last week. And stick around, at the end we'll have additional analysis from Connor Farley, CEO of Truvius. First, Tracy Stevens of Coindesk Indices provides week -to -date numbers over the Friday -to -Friday time period. The crypto asset class continued its upward trend with the Coindesk Market Index, registering a 7 .4 % increase so far this week. This surge brings the 185 -asset Broad Market Index's year -to -date gain to 98%. Ethereum also surpassed the $2 ,000 mark yesterday while Bitcoin is now hovering around $37 ,000. Shared Storage Protocol Storj, up 74 % week -to -date, stands out as the top -performing asset in the Coindesk Market Index this week and is up more than two times this year. Among the large -cap digital assets in Coindesk Market Select Index, LINK and MATIC, both up 23 % week -to -date lead. Meanwhile, APE, down 5 .4 % week -to -date, and XLM, down 1 .9 % week -to -date, have failed to participate in the continuation of the Broad Market Rally. Stay tuned. After the break, we'll bring you expert analysis on this week's takeaways, provided by Connor Farley, CEO of Truvius. CME Group cryptocurrency futures and options provide market -leading liquidity for Bitcoin and Ether trading. Participate in the Crypto Classic Trading Challenge from December 10th through December 15th for the chance to win cash prizes. Compete against your peers while test -driving your crypto strategies in a risk -free simulated environment. Visit cmegroup .com slash crypto classic to find out more. This communication is not directed to investors of any specific jurisdiction or to recipients based in jurisdictions in which distribution is not permitted. It cannot be considered investment advice or results of market experience. Past results are not indicative of future performance. Trading derivatives products involves the risk of loss. Please consider it carefully. Full disclaimer included in show notes. Introducing PayUSD, PayPal's stablecoin. Designed for digital payments and Web3 transactions, PayUSD is the only stablecoin supported by PayPal. Built on Ethereum, it's compatible with widely used wallets, exchanges, and dapps, and fully backed by US dollar deposits and cash equivalents. Eligible US PayPal customers who purchase PayPal USD are able to transfer PayPal USD between PayPal and external wallets, send PayPal USD to friends in the US on PayPal or Venmo without fees, shop with PayPal USD on millions of sites, convert any of PayPal's supported cryptocurrencies to and from PayPal USD. Whether you are a crypto expert or a newcomer, PayPal provides a secure and convenient platform for your crypto transactions. Start exploring at paypal .com slash pyusd. Connor Farley of Truvius writes, Fundamentals -driven valuation frameworks for crypto assets are emerging both within and across different sectors of the crypto market. The pending regulatory approval and institutional offering of vehicles for exposure to mega -cap assets like Bitcoin and Ethereum is an important first step toward broad -based investor adoption. But the next step involves unlocking broad, diversified exposure to all sectors within the crypto economy. It is critical not to overlook the fundamental value of blockchain -powered technologies that are driving new business sectors like decentralized financial services and smart contract platforms. Cutting -edge investors should develop investment strategies for these sectors. Market commentators often generalize non -mega -cap crypto assets as altcoins, primarily owing to the nascency of the asset class and the learning curve associated with its mosaic of use -cases. However, this generalization overshadows the significant opportunities for data -driven relative value comparisons both within and across various sectors and assets other than Bitcoin and Ethereum. For example, while news coverage converged on Bitcoin and Ethereum ETF speculation this week, crypto assets within the CoinDesk computing and smart contract sectors including Chainlink, Cosmos, Polygon, and Solana, which all have circulating market capitalizations in the billions of dollars, meaningfully outperformed the two heavy mega -caps. From a fundamentals perspective, over the last week, Polygon saw healthy network usage and stronger centralized exchange flows activity relative to peers. Solana and LINK exhibited strong price momentum and were also aided by relatively stronger activity from software developers contributing to these projects over the quarter. Like what you're hearing? Head on over to coindeskmarkets .com for more. We'll see you tomorrow. For more crypto podcasts, check out the CoinDesk Podcast Network. You can reach us at podcasts at coindesk .com, follow us, and if you like the show, please leave us a 5 -star rating on whatever platform you're listening to us on. Markets Daily is produced and edited by Eleanor Paul, with executive production by Jared Schwartz. I'm Noelle Atchison for CoinDesk. We're back tomorrow with more market news and insights.
Tech Path Crypto
A highlight from BlackRock Bitcoin ETF in January | Larry Fink Is Confident
"All right, so things are cooking in the market right now, Bitcoin, Ethereum, what we're doing and watching with Solana. We'll break down a lot of things for you guys today, but it's all going to be built around the narrative of the ETF, when and how much of an impact it will have on the markets. My name is Paul Baron. Welcome back to The Tech Path. All right. A couple of posts we'll get into. I want to kind of flow along here. There's going to be a lot happening today. Before I get started, I want to thank our sponsor, and that is iTrust Capital, if you guys are looking at long -term holding. In an IRA, this is one of the places to check out. You can hold Bitcoin over there, precious metals, altcoins, all sorts of things. It's all self -directed over there, very easy to use. All you have to use is our link down below. Get a $100 funding reward if you decide to go in on that. Low fees too on your transactions inside, no fees on a monthly. So just think about that. Let's go over to a couple of tweets here. I want to start off with Mike Allred, or Alfred. Mike had a very interesting tweet here, and I follow this guy. I would say he's a Bitcoiner, and he had a really good position point here on the first of November. FOMC press conference over, Jerome is off stage. Markets are not following the familiar script of dumping through the close. This is the turning point. Yields will fall, the dollar will top, and Bitcoin and equities will rip through the year end. Basically, Mike called it, and I think he's exactly right, what we did see in terms of yields starting to fall. In fact, we saw a fairly significant jump down in yields. If you look at what Joe Consorti was talking about, this is a good example, people are losing faith in US creditworthiness even after the 10 -year yield has fallen by 51 bips. So that to me is some of these nuances that happen in the traditional markets that start to move things around. It also starts to loosen up capital on the sidelines, and that's what you're watching right now. Then if you look at the comparison of where things are going around Bitcoin, because some people are saying Bitcoin could make it to 50K, and part of this will look at, of course, the ETF, the likelihood of getting an ETF before the end of the year. Even though our friends at Bootbar still believe that that's like a 70 % probability, I feel like this is probably going to roll into that January 10th date, and when it does, I think that is the key. Now, what does that mean between now and then? I think that is the big question for sure. Fox Biz says BlackRock is growing increasingly confident in the spot Bitcoin ETF approval by January. Listen, they're having conversations with the SEC, there's a lot of back and forth dealing with this. Ed Gasparino talking about this. Everybody on Wall Street is talking about this. If this does not happen, this would be one of the biggest fails, I think, on Wall Street in combination with the SEC, maybe that we've ever seen in the history of Wall Street. Other things to be watching for, and this is something that Seifert and I talked about the other day when he was on. Just in, French investment bankers receive an email from BlackRock promoting a webinar for their iShares that swap ETF products on November 15th. This is within eight days of a spot Bitcoin ETF approval window. This is something that Seifert and I talked about, Bloomberg analysts, and the questions that have kind of been brewing is that there's been a lot of advertising, they're called RFPs, and if you're in the media business, you know what that is, but there's been a lot of RFPs coming in asking about certain windows of time and how quickly you can activate ads. This to me, what is it? Because normally this is a year -end kind of thing, and year -end, sure, there could be a scenario where people are just blowing the rest of a budget that they've already allocated, but these seem to be very targeted and very specific, and when you get those kinds of RFPs, which we've received, then I'm always questioning, what are they looking for? What exactly is going on? That usually tells me there's a campaign brewing, and what else is out there right now that could be brewing in terms of campaigns when it comes down to marketing, just like Seifert said, there's going to be a marketing bloodbath of who's going to try to position first, whether it's BlackRock, 21 shares, Fidelity, all the ones that we have out there in terms of the spot ETF. Here's another topic on Bitcoin. Here's how high Bitcoin could soar in the first year of its bull cycle. There's a course coming in from Michael Van de Poppe. A couple of things he's pointing to right here, we're getting ourselves into a period of the first year of the bull cycle, means that most likely we're going to see a high of around 50 to 55K. I would agree with that to a certain extent. There are some things, if you're not in our diamond circle, our most recent post where Evan and I actually did two analyses on this. Evan did an analysis on the TA side. We did an analysis on the sentiment side. Looking at the long -term sentiment run of Bitcoin in general, especially if you look at how it compares to other assets, and you compare that to new activity, meaning new people talking about a particular investment like Bitcoin, it's starting to ramp up. So does that mean that we could be seeing entry -level participants or people that haven't been active for a very long time coming back in the space, which could contribute to these kind of numbers in terms of 50 to 55K? We're also going to have a period where we have the altcoins are starting to wake up substantially. Obviously, I think everybody's watching Solana, Matic, Avalanche today. Those are all altcoins, and they're all in a very positive mode right now. And of course, Ethereum clipped over 2100. Most likely, we could see a 22 by weekend. So there's a lot happening there. Question will be, in between, are we going to see altcoins do really well? And we're starting to see some momentum. Will that last? And does it act like a typical altcoin season? That's the question mark that I think a lot of people are trying to compare, because if you look at past cycles versus this one and the one we possibly are moving into coming out of a bear market, a lot of people look at it in a different way because of all this new speculation around ETFs, regulation, structured capital, the coming of age of this asset class, all those things that did not exist in the last run between 2019 and 21. So at this point, confirmation of the bear market is over almost close to 100%, especially with the breakout of 28K. That was the one that basically held the 200 -week EMA. So definitely moving forward for sure.
The Bitboy Crypto Podcast
A highlight from TOP Crypto Pick For 2024! (3 Low Cap GEMS with 20X Potential)
"Injective protocol, can it reach $100 per token? This project's been on an absolute tear over the year, up over 500%. So here's everything that you need to know about this protocol and why it could change DeFi forever. It's time to discover crypto. So what is Injective and why has it been pumping so much? Injective is an interoperable layer one blockchain optimized for building Web3 finance applications like decentralized exchanges, lending and borrowing protocols and derivatives markets. It is built on the Cosmos SDK, aka software development kit, and its Tendermint consensus architecture, which gives it fast and cheap transactions, as well as make the blockchain interoperable through the use of the Cosmos IBC protocol. It also uses Ethereum virtual machine compatibility. Injective is attempting to bring the low fees, speed and cross -chain trading of centralized exchanges into a decentralized permissionless environment. It was the first Cosmos blockchain to offer fully decentralized order book infrastructure. Now, Injective was founded back in 2018 by Eric Chen and Albert Chan, who now serve as the CEO and CTO of the umbrella company Injective Labs. They were first backed by Binance Labs. They then went on to raise over $50 million in three funding rounds. First in July of 2020, where they raised $2 .6 million in an initial seed round. Then they raised $10 million in an April 2021 funding round. And finally, they added an additionally $40 million to the pot with another funding round in August of 2022. They also did the Binance Launchpad in October of 2020, where they ICOed, selling 9 % of their total supply for 40 % of the tokens. Then in 2021, they released their mainnet and launched their smart contract platform. Injective has investors like Binance, Pantera, Jump Crypto, Mark Cuban and many more. Ignore Mark Cuban's NFT plays. The Injective blockchain holds decentralized order books, which provide liquidity to the DEXs, a trade execution coordinator and a bi -directional token bridge and EVM execution environment. Any DAP that is built on the Injective blockchain has access to all of this. And the blockchain is public, so anyone can build a DAP as long as it's approved by the governance. While some DEXs use an automated market maker formula to manage liquidity, Injective uses an order book model that is similar to centralized exchanges. This means that the DEX on Injective doesn't need gas fees, so users only have to pay market maker and taker fees using INJ. That is where the utility of the token comes in. There are tons of applications in the Injective ecosystem, but we're going to be just going into a few. Injective's most popular DAP is a cross -chain DEX called Helix, which stands out from the crowded DEX landscape by offering unique features like zero gas fees, stop -loss orders, trading history and reward tracking. These elements give Helix the positives of a centralized exchange with privacy and safety of a decentralized environment. Helix can natively support a ton of assets like Cosmos, Ethereum, Solana and Polygon, and has an easy -to -use interface where you can connect a self -custody wallet or send your assets to your Helix portfolio. And people seem to like using Helix because it becomes one of the fastest growing decentralized exchanges since it launched in September of 2022, when it reached over a billion in cumulative trading volume after just one month. So make sure you smash that like button if you're an INJ holder. Not only have you seen a 500 % growth year over year, you guys continuously change DeFi in a positive direction. Currently, Helix has over 13 times that cumulative trading volume across all its spot and perpetual markets. And Helix just launched its pre -launch features feature, which allows users to trade futures on tokens that haven't even launched yet. Now, this is probably part of the reason Helix is pumping, because this additional service allows users to speculate on upcoming coins without having to gain access to pre -sales or launch pads. Helix has marketed this as an attempt to level the playing field for the general public since venture capitalists and wealthy insiders are typically the only ones who have early access to projects. Now, what else is in the Injective ecosystem? Mito Finance is another one of Injective's popular applications. Mito Finance is a DeFi trading platform that aims to democratize finance and increase profits through automation. Mito utilizes smart contracts to bring algorithms typically used by institutional investors and hedge funds to the common man. You just sign up for a vault and earn rewards, and Mito also has a launchpad that makes token creation incredibly easy. Now, while that might not be my favorite application, it is true. Institutions utilize medbots and have ways they can profit that retailers will never be able to access in their lifetime. Thanks to yours truly, Gary Gensler, regulations get harder and harder for retail traders over time. And then there's FrontRunner, which is a decentralized sport prediction market. What's cool about FrontRunner is that it allows traders to buy and sell shares of sports propositions the same way you would buy stocks. Now, you could buy and sell these positions in real time as the odds change. Like I said, there's a ton to explore in Injective's ecosystem, so go to their website and see what you want to learn about more. Since its launch, Injective has been chugging along with one improvement after another. In January, Injective launched a fund of $150 million to accelerate the interoperability between blockchains to enhance DeFi adoption and expand its ecosystem. The following March, Injective launched a testnet for Solana -based apps. And then just a few months later in September, it released a testnet for its EVM layer. This is a two -part solution that will allow Ethereum applications to now natively run on top of Injective. The other piece of exciting Injective news is that Injective will integrate into Google Cloud's analytics hub, joining the ranks of major layer one blockchains like Bitcoin, Ethereum, and Litecoin. This means that anyone using a Google Cloud server will be able to interact with the data across the Injective network. CEO and co -founder Eric Shen said that the Google Cloud team has played an integral role in the growth of Injective since its inception, and that this latest collaboration will help take Web3 as a whole to new heights. Now, all of these developments have led to the price of Injective just going through the roof in the past few days, going between $7 and $8 at the beginning of October to now nearly $17 in just last week. So if you're an INJ holder, congrats, because your bag basically just tripled. Now, what's interesting to me is that while other crypto projects are struggling to regain just a quarter of their previous market cap all -time highs, Injective has already shot past that halfway point and isn't approaching a brand new all -time high. So this makes me wonder, is Injective not only going to break its all -time highs while we're still coming out of a bear market, but is it going to just surpass them and show significant gains coming over the next month? Other than being a great investment vehicle, what are other use cases for Injective? The blockchain uses a proof of stake model, so staking your INJ can help secure the network, and currently staking rewards are pretty sweet. Coming in at just over 16 % APR, you get to choose one of their 126 validators and start earning free INJ. Currently, there are almost 45 million tokens staked, about half of the circulating supply, and now remember that staking never comes with zero risk. So make sure you do your own research and don't go to staking your savings. Now perhaps one of the best reasons behind the INJ pump is going to be the tokenomics. Over the bear market, their vesting schedule released the majority of the supply into circulation. Now seeing roughly almost 89 % tokens in circulation, this goes to show that there's not a lot of dilution moving into this next bull run. So if we have all of this development, all of these DeFi applications, and all these integration, that means we can see INJ continue to push to new highs without seeing VCs and insiders dump on retail. Now other use cases include governance, and if you have a stake to INJ, you get to vote on new applications and the direction of the blockchain. INJ is also used for protocol fees, as well as developer incentives. Now there is one thing we need to be cautious about. The total supply could still potentially increase over time, because Injective uses inflationary emissions for block rewards. Currently, the block time is 0 .82 seconds. The inflation rate started at 7 % with a plan to decrease that rate in 2 % over time, but Injective also has a unique burning process that basically ties the percentage of INJ burn to the popularity of the protocols on its blockchain. So if Injective gains more and more adoptions, there's a chance that the token will become deflationary in the future. So what we need to be cautiously optimistic about is, is this inflationary pressure going to dilute the tokens moving into this next bull run? Because like I mentioned, there is not a lot of dilution coming from the early vesting schedules. So if we get burning mechanics on top of that for more development, I don't know what the right word is, but pomponomics is the kind of what comes to mind. So what makes their burning process so unique? Injective collects 60 % of the fees its platform receives from the users and puts them into a weekly auction and burn fund, where it invites people to make bids on those fees. Bidders have to buy the native token, INJ, and use that to make a bid on the assets that are on the auction block. Then Injective burns the final bids. This decreases the token supply and also drives demand for the INJ token. I know this is a little confusing, so imagine Injective auctioned $1 ,000 worth of an asset, and the highest bid ended up being $800 worth of INJ. Whoever won that bid would then have an arbitrage opportunity with the assets they've won, and Injective would then burn that $800 worth of INJ. This is why the level of Injective deflation is directly linked to the popularity of the protocols that use its on -chain order book. So what do you guys think? Do you have Injective in your portfolio? Do you think this is a pump and dump, or will INJ keep flying to the moon? So make sure you turn on those post notifications, leave a comment down below, and let us know your thoughts. Is Injective Protocol going to change DeFi forever? See you at the top. Thank you.
Crypto Banter
A highlight from ONLY 20 Days Left To Catch The BIGGEST Altcoin Trade!
"Something crazy is happening on the markets right now. Look at that wick up to 38 ,500 on Bitcoin, which happened a few seconds ago, and it wiped out a whole lot of people who were once again short. But that's not the only thing that's happening. We are now through this huge trend line that has been this huge resistance line that's been stopping us from the beginning of the year. This is a trend line from the beginning of the year, and we've now broken through it way before we expected. I did tell you that if we keep hitting it eventually, we would break through. That's not the only thing that's happening. It's happening while new money has all of a sudden started going into the crypto market. Look at this. If you look at this blue line, it shows the market cap of stablecoins, and all of a sudden what you see is you see more money flowing into the crypto market from the outside. It's almost as if someone knows something, and I'm going to show you exactly what they actually know because I know what they know, and I'm going to show you what they know and why more money is coming into crypto today of all days. Then we want to talk about something else. We want to talk about altcoins. Specifically, look at this day on altcoins. Casper's up 27%, Illuvium up 23 .7%, Rune up 14%. They are exploding. Look at Solana. Solana is about to break a level, and once this level is broken, the next resistance for Solana is at $78, and we're about to break this level. I'm going to show you what happens after we break this level, but I'm going to also give you a warning. I don't think it's a good time to buy altcoins. I'm going to show you the data as to why it's not a good time to buy most altcoins, but, but, but, but, but there is or there are two sectors that are probably still worth buying. One of them may actually do as much as 1 ,000x. The other one probably do a couple of multiples. I'm going to show you at the end of the show what those two sectors are. They haven't run yet, and when they run, I think we're going to get a massive, massive, massive, massive, run. So listen today, probably the biggest show we have done in this entire year, because this is like the biggest bull market show this entire year, and you know that we are DJs. So let's do this guys.
Markets Daily Crypto Roundup
A highlight from Crypto Update | Bitcoin Soars Above $37K While Ether Hits a Symbolic $2K. Here's Why
"This episode of Markets Daily is sponsored by CME Group and PayPal. It's Thursday, November 9th, 2023, and this is Markets Daily from Coindesk. My name is Noelle Acheson, Coindesk collaborator and author of the Crypto is Macro Now newsletter on Substack. On today's show, we're talking about a new big name crypto exchange, Bitcoin fees, GDP growth, and more. So you don't miss an episode, be sure to follow the podcast on your platform of choice and turn on notifications. And just a reminder, Coindesk is a news source and does not provide investment advice. Now, a markets roundup. The crypto market is surging, with Bitcoin at one point today almost reaching $38 ,000. According to Coindesk Indices, at 10 a .m. Eastern Time this morning, the Bitcoin price was up 6 .8 % over the past 24 hours, trading at $37 ,604. Ether is up a stunning 8 .25%, breaking through the symbolic $2 ,000 level to trade at $2 ,036. Other assets are doing even better. Chainlink is up 14%, Solana up 10%, Cardano 9%, Polygon and Avalanche are up 8%. What is behind this strong sentiment? ETF speculation seems to be doing its part. As of today, the public rebuttal period for most of the existing Bitcoin spot ETF proposals has closed, which means a comment from the SEC decision on the Hashtech's strategy change proposal to convert its Bitcoin futures ETF into one based on the actual asset. Also, there's the reevaluation of Bitcoin's safe haven thesis, with the US debt becoming an ever more pressing problem and several renowned investors highlighting Bitcoin's provably hard cap on its supply and its immutable monetary policy. This morning, Coindesk's Omkar Gaboli reported on an options market metric that gives some insight into trader sentiment. It's called SKU and it shows the relative price of calls versus puts expiring in four weeks. Calls are options to buy at a higher price and therefore represent bullish positions. Puts are options to sell at a lower price and so are good vehicles for those who expect the price of the underlying asset to fall. According to Omkar, the SKU is at its highest since April 2021. This means that the premium of calls to puts or bullish to bearish is at its highest in more than two and a half years. Sentiment does seem to have changed. In macro indicators today, let's look again at GDP, but not at the actual growth, the expected growth. I've spoken before about the Atlanta Fed's GDP Now model, which takes in economic data as it is released and spits out a frequently updated growth estimate. They go to pains to specify this is not a forecast, it is an estimate based on actual data. You may recall that for the third quarter US GDP growth, the Atlanta Fed GDP Now model was aiming much higher than the consensus estimates from economists. It was signalling Q3 growth of 5 .4 % versus 4 .4 % average forecast, while the figure came in at 4 .9 % smack in between the two. So the Atlanta Fed figures are worth paying attention to. It updated its Q4 estimate yesterday. According to the Atlanta Fed, Q4 growth in the US will come in at 2 .4%. This is much lower than in Q3, less than half, but it is not yet a recession. Or is it? One misunderstood feature of recessions is that they do not depend on two consecutive quarters of negative growth. I'm not sure where that idea came from, but it doesn't hold. If you look at the annual rate of quarterly GDP growth at the start of the last few recessions, they were 1 .4%, 1%, 1 .7%, 4 .3 % in 1981. So, what determines whether or not a US recession is upon us? The answer is the National Bureau of Economic Research, known as the NBER, which is a private organization entrusted with this call. The reason this organization gets to make this call is to avoid dozens of different dates being declared, which would make it The NBER gets to decide when we are in a recession, and this is especially important given there is no established definition of what a recession even is. The NBER's definition is the following, and I quote, a significant decline in economic activity spread across the economy, lasting more than a few months. End quote. If you're wondering what the organization means by decline in economic activity, you're not the only one. It's not just declining GDP. Last year, real GDP declined for two consecutive quarters without the NBER declaring a recession, something that hadn't occurred in the US since 1947. Anyway, given the strength of consumer spending and business activity, although this is declining, we are probably not in a recession yet. Growth is declining, however, according to a lot of data points I've discussed on this podcast, and according to the Atlanta Fed GDP Now model. It's starting to feel like we're in a sort of twilight zone. Maybe we are, maybe we aren't. The rear view mirror will tell us more. Back to markets, where stocks seem to be taking a pause. Yesterday, the main US indices closed more or less flat, and futures are pointing to a tentatively positive opening today. This is despite government bond yields continuing to drop. Yesterday, the US 10 -year yield dipped below 4 .5%, although this morning it is back just above that level. In Europe, the FTSE 100 closed flat yet again. The German DAX index rose by 0 .5 % back up to its highest level in just over a month. The Euro stock 600 was up 0 .3%. So far this morning, sentiment looks more positive, with the main indices up at least 0 .5%. Sentiment was more positive in Asia today, with Japan's Nikkei index up 1 .5%, the Hang Seng up a third, and the Shanghai Composite flat on yesterday. The Brent crude benchmark fell another 2%, dropping below $80 a barrel for the first time since mid -July. Earlier today, it had recovered slightly, up 1 .2%, to trade at $81 .40 a barrel. Gold also continued lower, most likely weighed down by a busy schedule this week of central bankers, reminding us that there could be more rate hikes ahead. Yesterday, the metal dropped almost 0 .75%. So far today, the decline seems more muted, with gold trading down 0 .2 % at $1 ,946 per ounce.
Crypto Banter
"solana" Discussed on Crypto Banter
"Okay, so now that is one of the systems that he actually teaches you how to learn. He shows you how and when you're going to take losses. Now, there is one more free cohort for Sheldon's Sniper School. There's only one more. And under this video, there is a link to Sheldon's course. I'm going to be doing it because I just want to do it again one last time. I have done it. I have done it before. I want to do it one last time. So, if you want to join me and be in the class here, click on this link over here and sign up. The course starts next week. You can still get in. The numbers are limited. The numbers are limited. Get in. Get in now while you can. The other thing is, guys, so do this course with me. It's the last time it's going to be free. Then it's going to become $2,999 if you haven't done it. So, just do it. Just trust me. If you've been procrastinating, this is the course that's actually going to teach you how to trade. So, go, go, go, go, sign up now. I'm going to wait. I'm going to wait. I'm going to wait. In fact, while I'm waiting, dare a bit, remember that there's the Options Trading Competition. A lot of you have signed up, but you've got to go into our team. So, you've got to join the team. You've got to go here, and you've got to search for the… I'm not logged in, but you've got to search for the Crypto Banter teams, Ryan and Sheldon, and you guys have got to sign up for the competition to get your free option and to get your 50 bucks. I know some of you signed up, but you've got to be able to do that. Anyway, I did say that I was going to show you a token that was going to run. So, I did say to you that Solana was going to get to $35 ahead of its DEV CON. And as you can see, we are running. We did hit over $35. Someone said the show came on late today. You're right. The show did come on late because I'm in Amsterdam bringing you Solana DEV CON events. So, anyway, the reason why Solana pumped was because of Breakpoint, because we knew there was going to be big announcements. And that's why I think Render is going to pump before Thursday and a whole lot of others. The next one that is happening, a similar Breakpoint, and it actually has started running, is actually NEAR protocol. So, they have an event in Lisbon on the 7th to 10th of November. Why did they do 7th to 10th? They wanted everybody to come to Europe for Solana, and then hop on a train and go to the NEAR conference. Now, you can see that we are starting to climb going into NEAR CON. So, look at the rise of NEAR going into NEAR CON. So, keep your eyes on some entries here. All right. I just want to talk for a few more minutes about the Unibot hack. So, we all know this morning, Unibot, which is a bot that we've been talking about, was hacked. It was trading at about 60 bucks before the hack. Now, it's trading at $41.27. The good news is that they've said that they're going to refund anybody that was affected by the hack. The effects of the hack are about $600,000. The root cause for the hack is a CALL injection where the attacker can custom malicious call data into the thing. Long story short, forget about the thing. Right now, it's trading at $41. I've taken a position because I think this team can recover. So, I've taken a bit of a position. I'm not telling you whether or not to take a position. I'm just telling you what I've taken as a position. All right. Then, some more blockchain news. So, we had the launch today of Celestia. So, I don't know if you guys have been following. Right now, you've got Celestia trading at $2.32. What is Celestia? So, Celestia is a Cosmos Layer 1 chain. Now, what this chain does is it's a highly, highly, highly anticipated launch. And you can see that the investors are big investors. So, Balaji is an investor, blockchain capital, polychain capital. This is one of the most backed launches out there. Now, be careful because if you're buying it now at $2.33, you are giving the seed investors. Now, we don't know how many seed investors, but you're giving them a 233x because they invested $1.5 million at one cent. Then, they had the private sale, which was at 10 cents, and they raised another $15 million. Those guys are 25 cents up. And then, we had a private two, which is at a raise of $40 million, and that was raised at $1. So, all of these guys are up a lot. If you're buying at these levels, you guys are feeding these investors. Now, what is it? Well, essentially, what it is, is it's a modular blockchain that allows anybody, not anybody, but allows people to build their own blockchains with different layers. So, you can decide how to settle your blockchain and stuff like that, which will mean that people can build blockchains much quicker. So, it's a very promising piece of technology, a very, very, very promising piece of technology. But as I say, I'm a bit worried about the fact that these guys have got a 250% return. I don't like tokens where these guys have got a 250% return, and you are the reason why these guys are getting a 250% return.We could go through a Tezza attestation report, not much in here. I own $72 billion in T-bills, which means that they're very, very, very big T-bills holders. Here are some of my trades. So, my Solana trade is up 143%. My $143,000, my ruin is $109,000, my Stargate, my Nia is down, but I'm going to average down now because of Niacons. I'm actually going to take some more Nia ahead of Niacon. I guess that is it for today, guys. I think we'll be back here tomorrow. Again, it'll probably be at a different time. It probably won't be at the normal showtime because I'm going to be at the Solana conference again. So, it probably will do another late show like this. So, make sure that you're subscribed. Make sure that you've hit the notification bell to know when I'm coming on. Make sure that you guys have predicted in the Bitcoin competition. And if you haven't, go and get the BuyBit bonus. Tomorrow, I'm going to be giving away $1,000 to anyone who's opened a BuyBit account. We're going to be drawing $3,000 here. It is over here. Otherwise, if you've got a banter link already, you can use any banter link. I'm going to have a good time in Amsterdam. I will see you guys again tomorrow. Until then, trade well, my friends.
Crypto Banter
"solana" Discussed on Crypto Banter
"And you can see over here, this is the innovation center, another one of the halls. I think we filmed the same hall twice. But what you can see is there's a lot of people there. Now, who are these people that came to Solana? Well, I must say that the people that came to Solana conference aren't very much retail investors. So, it's not really retail investors. And if you look at the caliber of person that's there, there's a lot of brainpower there. These are developers, these are investors, these are very serious investors. And the type of talk that they've got going on on Solana is very much protocol-focused, developer-focused. It's not retail, invest, make ROI. While the price of Solana was going down, these guys decided that they're just going to carry on building. And what they did was they focused on the protocol itself. And they developed very much the protocol and making the protocol really fast and really cheap. And a lot of developers did leave, that's for sure. But a whole lot of developers have actually come back. And that is because of the improvements that they've made on the protocol itself, on the Solana protocol itself. Now, one of the things that I want to show you around Solana is the launch of this thing called Fire Dance. And I want to show you what Fire Dance is. And I want to show you what it actually means. These guys have been hustling hard, really done a lot of work. I've been chatting with them. They've been working around the clock for the last couple of weeks. And I am really excited to announce that right now, the first version of Fire Dancer is live on testnet. So, they have been working very much on this thing called Fire Dance. And a lot of people don't know what Fire Dance is. I'm going to try and simplify it for you. What the Fire Dance is, is a re-engineering of the Solana validator client. So, what I mean by that is there's a piece of, let's call it a piece of software that allows you to validate the transaction. It's a validator client. And up until now, there's only been one version of this client, which was actually made by Solana themselves when they developed the blockchain. But then Jump Capital, the company that invested a lot of money in crypto last year, well, they decided that they wanted to write a new version of this validator client. And they wanted to build it from the bottom up to optimize it for speed. And that's exactly what they did. That Fire Dancer is now live on testnet. Now, let's just understand what we mean by improving it. So, just listen to what these improvements are. A network interface card on your server, it can handle one gigabit, five gigabit, 25 gigabits. This thing was running four cores, no problem. Scales up. Network interface cards get faster. We put more cores on the machine. You can imagine this continues to scale to millions and millions of transactions that this is handling, no problem. Okay. So, 1 million transactions per second per tile, but you can run multiple tiles. Transactions are great, but you got to create blocks. You got to send them out to them. Okay. So, essentially what you've got is you've got this new validator client that has been built. And this makes Solana so fast that it actually generates 1 million transactions per second. It can do up to 1 million transactions per second. And that really changes the game because if you've got 1 million transactions per second, and they're very, very, very cheap, because that's exactly what's happening on Solana, a lot of the big companies like Visa, who was there today. Jeremy Alea said, I can get behind an internet financial system with this kind of network performance. Visa was at Solana today. Google was at Solana today making announcements. Amazon AWS was at Solana today making announcements. So, what I'm trying to show you is Solana goes live on Google's Cloud BigQuery data. So, you can now, on using Google Cloud's BigQuery, you can now look for blockchain information on Solana. So, what we saw is we saw that a lot of developers, a lot of smart people in a room, and these developers are all building on Solana. And I asked them, I said, you guys, why are you building on Solana? You know me, I like to prod people, and I like to test people. I said, guys, why are you building on Solana when you can go and build an ETH layer 2? You've got ETH layer 2. So, why are you building on Solana when you can build an ETH layer 2? And they said, you know what it is? When you have two layers, you have two headaches. You've got to bridge coins, bridges aren't really reliable. You've got to get your coins, bridge it to polygon, bridge it off polygon. And they said, look, with Solana, everything actually settles on the chain. You don't have to bridge from point A to point B. And that makes a huge difference. From a development point of view, it makes a huge difference. And that's why the developers are actually there. Now, people are saying, well, it's higher on the best chain when it's disconnected most of the time. Well, it's not most of the time. They've had about 10 months of not having downtime. And remember that the reason why they were having the downtime was because it was so cheap to make transactions on the network that people made spam transactions on the network to try and intentionally, intentionally try and crash the network. And they didn't really succeed. So, I think the point that I'm trying to make is that whilst the price was down, they just carried on building. And what they've got now is they've got this unbelievable, unbelievable product where there's really no other layer one blockchain that even comes close to the performance of Solana and the develop activity on Solana. And I think that what's going to happen is we're going to get Solana as the number one blockchain. Then we're going to get a number two. I mean, Bitcoin is the number one blockchain. Then we're going to have Ethereum as the number two. And I think very, very, very soon, you're going to get Solana as number three. So, when you look at your CoinGecko, when you go to your CoinGecko, you can see which tokens I've been looking at a little bit. But when you go to CoinGecko, I think what's going to happen very soon is you're going to have Bitcoin, Ethereum, and then I think Solana is going to go all the way up and be the number three blockchain. I don't know if it's going to happen in another week or another month. I don't know when it's going to happen. But I think that that's my prediction for what's going to happen. My last prediction was I said to you, I think Solana is going to hit 35 during breakpoint. It did hit 35, hit 36, 24. We're seeing all the metrics are now super healthy. The DEX volume is at the highest level. The momentum has changed. Ben Armstrong is the Sultan of Solana who said that Solana was dead and everybody must leave. He's back. He's making videos about Solana 100xing. Van Eck is writing institutional type reports, which say that we could get up to 3,211. But I told you what I think about that. The other thing that we're seeing in Solana is we're seeing that institutions are starting to invest in Solana. This is the coin shares, inflows, and outflows. What you can see is if you look at the month-to-date inflows, Bitcoin had a huge inflow. Ethereum had an outflow. Multi-asset had an outflow. The biggest jump by far is Solana because there's $66.9 million actually put into Solana. You can see what's happening here. There's a shift. That shift is that the institutions are starting to see the value of Solana. It reminds me very much of Ethereum in many, many respects. The first respect where it reminds me very, very much of Ethereum is the first time I went to an Ethereum DevCon, I remember seeing the brainpower in one room. I remember thinking to myself, I've never seen so many smart people in one room at one time. Now, today, I got that same feeling. I got that same feeling of no more tourists and actually just gigabytes of brainpower in this Solana DevCon. That's what I saw. Now, if Solana does play out like Ethereum, you can look at this fractal over here. Everyone's saying that Solana is playing out exactly like Ethereum was playing out from its life point of view. You can see that that's exactly what happened. It's starting to move up. Maybe this fractal can repeat itself. In fact, if I were to put my money in, I have put my money down, then let's just quickly see if I can show you my sole position. I don't want to just make sure that I'm actually logged in. You can see here, here's my sole position. This is just one of my positions. You can see that position is $556,000 up. It's $556,000 up, or 556% up with $143,000. The other one that's doing very well is my ruin position, which is $108,000 up, and my Stargate position not doing fantastic, but not bad. I think it still has some time to go. That's what I think around Solana. I think that it's not dead. I think that, in fact, it's probably just about to come back to life and destroy, destroy, destroy, become into the number three spot. Anyway, keep going, keep going, keep going. Everyone says Ben's living rent-free in my head. You know why that happened? Because I was always a big Ben supporter. Then he went and ranted on about me in one of his videos about how I'm such a bad person. I thought, fuck you, I've always been the one who supported you, and I've always offered you help and advice. Then you went and went all tilt mode on me. All right, you can do what you want to do. All right, Paolo, how many more likes have we got? What's the like situation? Right now, we're at 1,300. Okay, 1,300. While you guys are smashing up the other 200 likes, I want to just quickly show you something. We are in crazy, crazy, crazy old season now. In crazy old season, you need to know how to trade. I didn't know how to trade. I'll be honest with you. I went on many trading courses. I did Gareth's trading course. I've done Carl's trading course. The person that has the simplest way of trading and the best systems that I've seen for trading is Sheldon. I want to show you something, something that he published today. We'll go into the token in just a second, the one that I told you is going to fly in the next week, but just listen to this. All you are fighting for in crypto is the actual entry. So your stop loss, they're actually there to make you get a better entry. Look here, long trend to the downside. There's a little breakout over there. I buy the token and I pop my stop loss under the previous load. What happened? Price went. It would have maybe held for a while. Eventually, I came back in. Boom. Okay, I just lost 9%. I started with 1,000 bucks, lost 9%. Now I'm down to 910 now. Okay. A few weeks later, we have this long trend here. One, two, three, four, five touches. We break that trend. Okay, amazing. I'm in again. I put my stop loss under the previous load. What happens a few days later? Boom, get completely smashed. Ah, another 9%. Okay, now I'm down to 830. Time goes on, form another trend. I enter there. Break of trend, enter the trade. Boom, I could stop. That is another 5%. Now I'm down to 790. Find another trend, get another entry until the one day I get the correct trade. I survived the stop loss, breakouts, survived, and now I'm under 7% up.
Crypto Banter
"solana" Discussed on Crypto Banter
"The previous era was a very unique era for Bitcoin investing. It was an era where we as retail investors could front-run institutions because the institutions had no way to invest in our asset class because very difficult for institutions to invest in our asset class. And it is very, very unique to get an opportunity in any asset class to front-run the big money. It doesn't usually happen. Now, we've just had that moment when it comes to Bitcoin. It is the era of Bitcoin. Hardest front-running institutions will end any day now. We're coming to the end of it. The early adopter phase is drawing to a close. Soon the hordes will arrive with their fat sacks of fiat. They will try to persuade you to part your finite Bitcoin. They will bid you relentlessly. Remember what you own and only exchange it if it means a better life for you and your family. It's been an honor front-running the suits with you all. Good luck. I really agree with this tweet because I know that how long and how hard we've been stacking our Bitcoin while they haven't been able to. And what I can see now is that they are on the verge of doing this. And of course, why are they on the verge? Because when they look at the returns of Bitcoin, this is what a fund manager sees. You look at the 10-year annual compounded return. On a 10-year annual compounded return, Bitcoin has 196%. No other asset comes close. Tesla comes at 63.8%. And Amazon comes at 33.5%. Now, as a fund manager, how do you not invest in an asset that does that? And again, you can see it like that. If you look at the cumulative return for Bitcoin versus any other asset class, you just simply can't compare. And so now what this FOMO is causing is a new type of flippening. And I know usually we talk about the flippening as the day when the Ethereum market cap beats the Bitcoin market cap. That is what we call the flippening. But ladies and gentlemen, we are now dealing with a new kind of flippening. It's the kind of flippening that I never in my hoped we would, but I didn't think it would actually happen. And I want to show you the kind of flippening that we are actually seeing right now. So this is the chart of the flippening. You can see the chart over here. That's the chart of the flippening. A lot of you guys are saying, well, what is this and how is it a flippening? Let me show you how it's a flippening. This black line over here is the Binance open interest, the Binance leverage over here. And pink line here is the leverage on the CME futures. And what you can see is that very, very, very soon the leverage taken out by the institutions is going to be bigger than the leverage on the Binance exchange. So this is a percentage of open interest that Binance holds. This is a percentage of open interest that CME holds. What you can say is you can say that the flippening is that the institutions will become more bigger traders in the Bitcoin market than the retail investor. Up until now, the retail investor has completely dominated the institutional investor. But now what you can see is you can see that over here, you can see that the CME is starting to get much more traction when it comes to Bitcoin. So let me show you a few other pieces of data. So in this time period, you saw the CME did $3.56 billion in open interest in leveraged trades. And Binance had $3.84, which means that we are getting to a point where we are getting very, very close to the flippening here. We are getting close to the flippening. You can see it again in that chart over there. Gabor Gobek, who used to work for VanEck, I think he may even still work at VanEck. He's an advisor to VanEck. He says the CME is about to flip Binance as the largest exchange with respect to Bitcoin futures open interest. Institutions are here, and it's just getting started. And what he says, which is the most important part, is he says that this is just the beginning because first, it's the futures. But when the futures, when they can, the spot market or the physical market will actually follow. So right now, we're seeing this new kind of flippening. As I said to you, it is this pink line. And I think within the next couple of days, these institutions with all their FOMO are going to overtake us when it comes to retail traders. Now, that doesn't mean that we are trading less, even though we are trading less. It doesn't mean that retailers are trading less. It just means that the institutions are coming in and trading more. Now, you're going to make a decision now. You know this is happening. You need to make a decision whether when the institutions come, you're going to part with your Bitcoin or not. If you are going to part your Bitcoin, make sure there's a good reason. Make sure there's a very, very, very good reason because the hoard is about to come. And if you're selling now before the hoard arrives, I don't know what you're doing because when the spot buying starts to come up, it's crazy. You know what it is? It's exactly like this. Someone said this is like all of us sitting here waiting for the ETF to give us the institutional takeoff. It's exactly like this image. I love this image. I love this video of all of us sitting, waiting for takeoff from the Bitcoin spot ETF. So, we are at this new juncture. We are getting this new kind of FOMO in the market. Be careful. You now know about the FOMO in the market. You have been warned. Someone's complaining about my mic. Let me try and change something here for you guys. Okay. Can you guys? I think it's fine. I think my mic sounds fine to me. I don't know if is anything wrong with my mic? I don't think so. I don't think so. All right. Let's go on to the next thing, which I want to show you. I want to show you that this bull market is not us, guys. It's not us. I keep showing you guys that it's not us. Remember, our leverage is still very much down. It's the institutions that are coming in. You can also see that we haven't had that much of an uptick in USD inflows into the market. So, yes, we've stopped the outflows of USD, but we haven't got the inflows in the market yet. So, imagine the bull run that we'll get when the inflows start to come in the market. It's almost like a bucket. We plugged all the holes in the bucket. So, no more water is leaking out of our bucket. But, but, but, but, but someone says, peace no more, says, we're waiting, bro. We're all waiting, bro. We're all just chilling here on the fence. We're all, we're all waiting. So, when the USD comes in, and we actually start getting new water in our bucket, then that's when it's going to happen. But it's not happening yet. I mean, we are starting to see a little bit more retail interest. You can see on the Wikipedia page, we've had some more hits on Bitcoin. You can see when it comes to YouTube views, just look over here, just look at, we've had a little spike in YouTube views. I mean, we see we're on a downtrend, and a downtrend, and downtrend. We've now got the higher high in terms of YouTube views. That shows you where the, that shows you where the retail interest is. You see, so the retailers, we are starting to come back, but we're not exactly there. You can see the same thing with Reddit subscribers to any crypto channels. This is being driven by the institutions. That's the institutions over there. That's the institutions over here. Right now, this bull market is not in our hands. The only thing that is actually in our hands is when we want to sell. That's the only thing that's in your hands. Right now, everything else is out of your hands. The only thing that's in your hands is when you want to sell, and how much money you want to make when you sell, and what you're going to do with the money. That's it. That's the only thing that's left in your hands. What do you think? Let me know in the comments. I'm not a motivational speaker. I'm just presenting it. Eric says the run is the best motivational speaker. I'm not a motivational speaker. I'm just trying to show you exactly what I'm saying. Someone says downtrend due to clickbait thumbnails. There's no clickbait here. When I went to Solana, everyone told me that Solana is a dead chain. Don't even bother going to the breakpoint this year. Solana is dead. It's never, ever, ever coming back. So, I arrive at Solana this morning. And I have to show you guys, I had no expectations. Yes, I did say that I think the price was going to run to $35 or $36. And let's just quickly just for a litmus check, let's just see what I said. I said I think Sol hit $35 during breakpoint two weeks ago. We are now at, let's quickly just have a look here, SOLUSD. Let's see where we're at. $36.19. I was $1.19 off. I think you can forgive me for that. This time, I was $1.19 to the upside. Here, again, I was off by 3% to the upside. I said 23% is 27%. I think it's okay. I think it's okay. I think you can forgive me. I think you can forgive me. But anyway, a year ago, you all told me, let's just have a look here. You all told me that Solana was dead. I don't know why Solana is dead and going to zero. This is what this post was called. This post was written in December 27, 2022. Solana was backed by one of the biggest frauds in history. The media portrayed him as a boy genius wunderkind who made people invest in an average blockchain. Now, he's disgraced, maybe facing life in prison. FTX is committing fraud. Multi-chain capital, the biggest advocates for both FTX and Solana took a massive hit. So therefore, they're not going to invest in Solana anymore. In addition, many projects are choosing to return or build on Ethereum because of the advancement of layer 2 technologies as well as the constant outages on Solana. Many celebrities who were shitting Solana are now no longer shitting Solana and FTX. Most of the developer activity was faked by one guy who has left since. These are all the reasons why Solana was actually dead. Reuters also said that Solana was going to die. Solana is now down 73% of the past 8 weeks. The FUD is strong. Redart takes on the metrics and this take said that Solana is pretty much going to die. Then you had Ben Armstrong, BitBoy Crypto. He said he spread FUD calls on Solana asking investors to run. Now, remember this because I'm going to show you something very, very, very funny that Ben Armstrong, the same Ben Armstrong who said that Solana is dead and told everyone to run is now making videos. Will Solana 100x into the 2024 bull run? He's also tweeting out things like good morning Solana. I think I saw him tweeting stuff like good morning Solana soldiers. He's calling himself the Sultan of Solana. That's pretty much what Ben Armstrong is calling himself. If indeed he is the Sultan of Solana, I have to ask you a if all of a sudden he really does like Solana, why didn't he come to Solana breakpoints? Or was he going to do a fundraiser like he did the last time to get him back up on his feet? Maybe he should have done a fundraiser for a ticket to get to the Solana conference. If he is indeed the Sultan of Solana, do a fundraiser and do it. He's just jumping on the bandwagon, but the problem is the Solana people aren't going to fall for his nonsense. There are some communities that did fall for his nonsense, but Solana isn't going to do it. Solana was dead. Everyone said it was dead. Projects moved. I don't know if you guys remember, but D gods moved to Ethereum because they were so scared of Solana. Anyway, here we are one year later. One year ago, Solana died. One year ago, in fact, in about six days, that was one year since FTX collapsed and everyone said that Solana was going to die. So let's look at this. One year later, where are we? Is Solana dead? So I went to breakpoint today and I want to show you exactly what I saw and I want to explain to you exactly what I saw and then we'll make a decision whether or not Solana is dead or Solana is alive. First of all, there are heaps of people in Amsterdam, which all came to this conference. They all came for one reason. They came for this conference. This is the scenes of 4,500 people or whatever the number is in the hall today. There was no space to sit. You can see all the people over here standing at the back of the Solana conference, trying to listen to some of the talks here in Solana. The conference is very, very big. You've got the main center, you've got a developer's corner, you've got an innovation corner, you've got many, many, many things. And you can see over here, I've filmed for you. This is one of the halls, not the main hall.
Crypto Banter
"solana" Discussed on Crypto Banter
"Yeah, I'm 70 years old. I'm old. I'm surprised that Bitcoin got going. But, you know, it's clear that the young people look at it as a store of value because it's a lot easier to do stuff with in 17 years. To me, it's a brand. I like all of this. It's a 5,000-year-old brand, but young people have all the money. Or certainly, you know, the ones on the West Coast coast. So I like them both. I don't own any Bitcoin, to be frank, but I should. So he says, look, the young people like Bitcoin. He says, I don't really own any Bitcoin, but I should own Bitcoin. Sound is too low. Is it the YouTube sound or is it my sound? How's my sound, guys? Can you hear me? Just give me a thumbs up if you can hear me. OK, someone said you can't hear them. OK, well, I don't know if you heard that at all, but he said he. I don't know why you guys can't hear that. Let's see if we can fix that. Mic check 1212. Can you hear that? OK, hold on. Paolo is giving me a message. Paolo, what are you saying about the sound? It's a little low. It's a little low. All right, let's try another video. It could just be that video. So what we are seeing is we are seeing the institutional firm. And what he said is he said he doesn't own any Bitcoin, but he actually probably should hold Bitcoin. Now, we know when Stan Druckenmiller says he probably should hold Bitcoin, that is the sentiment that he's feeling. The one thing that he says, he says the younger people, he said the younger people said like Bitcoin. And so I pulled up this demographic chart and you can see how the familiarity of Bitcoin is starting to grow season on season. So if you look at season on season, how the familiarity of Bitcoin is actually starting to grow. Now, another person who is also talking about Bitcoin is Mohamed Alerian. I don't know if you guys can hear this. Let me know in the comments if you guys can hear this. We haven't had it been the safe haven. We haven't seen the flight quality and the flight to safety that you would expect given what's happening in the world. The second thing that's equally counterintuitive is you have people talking about Bitcoins, about equity being the safe asset because they've lost confidence in government bonds being the safe assets because of the nature of this interest rate risk. So, I mean, this is Mohamed Alerian and he's saying they're moving away from government treasuries as a safe haven and moving into Bitcoin as a safe haven. This is Mohamed Alerian who represents a very, very conservative type of investor. And that's why I say I think we're moving into a completely new era when it comes into Bitcoin.
Crypto Banter
"solana" Discussed on Crypto Banter
"They told me Solana was dead. Before I went to the conference, that's what they said. They said, don't bother going to the conference because Solana is absolutely dead. So what I decided to do was to go there and see for myself. And I want to show you guys today what I saw at the Solana conference today here in Amsterdam. This is pretty much the scenes from the dead chain of Solana. 4500 people in a room. We're going to talk about what's going on in Solana and whether Solana is, of course, a dead chain. Then I need to talk to you about something very important because we are entering a new era in Bitcoin. We have exited or we are exiting the old era. In the old era, we could front run the institutions. We were the ones who were front running the institutions. But now, we are entering a new era where we won't be able to front run the institutions anymore. The early adopter phase is drawing to a close. And soon, we won't be able to front run the institutions anymore. So we're going to talk about what that means. And I'm going to show you how the institutions are actually getting a huge type of FOMO. And when the institutions get FOMO, it's much, much, much bigger than the FOMO that we get when we're retail trading. I'm actually going to show you stats. I'm going to show you numbers. I'm going to show you everything else. A couple other things. I'm going to show you another token that's going to pump. I'm going to talk a lot about altcoins today because we do need to talk about the altcoins which are taking a break from their, if you want to call it, I'm not going to say all-time highs, but certainly of their high levels, the altcoins are taking some kind of break. And then, I think what we need to talk about is we need to talk about the Unibot hack and see whether or not we should actually be buying Unibot or not. So with all that, we've got a massive show. I'm here in Amsterdam, not the normal time as you can see. And the reason why is because I've been at the Solana conference all day, but I am here and I am bringing you crypto love and I am bringing you crypto wisdom. And I think we've got a lot to go. So let's get started. I know some of you are saying clickbait masters, but you know the truth is everyone did say Solana was a dead chain and they said Solana is dead. And today I'm going to show you exactly whether or not Solana is dead. You guys are going to help me make a decision as to whether or not Solana is dead because you need to get the information firsthand. And I don't know any other channel that brings you information like this firsthand from Amsterdam on the day of the conference. I'm going to bring you live things and I'm going to show you exactly what's happening at the Solana conference. I've got big, big, big updates for you on Bitcoin as well today because we are entering a new phase. We are entering a phase of institutional FOMO and the institutions are causing a new type of flippening. And we have to talk about this flippening and what the new type of flippening means for us. Usually the flippening is when the price of ETH refers to when the price of ETH or the market cap of ETH grows above the market cap of Bitcoin. But today I'm going to show you a new flippening, which is actually caused by the institutions and the FOMO that the institutions are getting. Then I'm going to show you a token that is going to run in the next week, just like I told you Solana was going to run and I was 100% right. I'm going to show you the next Solana. So there's lots to do. If you want to know what the token is that's going to run, we need 1,500 likes. Otherwise I'm not releasing that token for you guys here today. So if you're new to the channel, smash that subscribe button, obliterate the subscribe button. There is no other channel that brings you this kind of access each and every day. And you can see the work ethic that we have around here. Even though I was out late last night, I was up early this morning. I went to a conference all day today. Right now it's seven o'clock here and I'm bringing you crypto love and crypto wisdom, sharing everything with you. And also smash a like, subscribe to the channel. Let's quickly just go into the banter bubbles and see what's happening on the bubbles. There we go. We are in the bubbles right now. It's a mixed day. I wouldn't worry too much about this. I wouldn't worry too much about the mixed day. Let's quickly just toggle to the hourly. So it's a mixed hour. It's a mixed day. You can see Rune is at 5.91%. But I think what's happening here is we're getting the RSI's starting to take a bit of a breather because if you look at the RSI's for the four hour, you see that they're starting to come down and they're starting to come down because the market did get a little bit overheated on the short timeframe. Not too worried because if you look at it on the one week timeframe, we're not overheated on any of the RSI's. Just remember guys, if you are in the banter bubbles, just click on this win a Bitcoin link. And then what I want you guys to do is I want you guys to go in there and I want you guys to obliterate the predictions. How it works is very simple. If you want to win a full Bitcoin, this is a real promotion. Okay. This is a real promotion. What you need to do, you need to open an exchange account with any of our exchange partners, preferably open it on Bybit because you get $30,000 in bonuses. Just click this button here. You'll then be taken to the sign up page. Sign up, you get five predictions. If you can predict the price of Bitcoin on the first of the first 2024 at 0001 EST on Coinbase, then you can win a half a Bitcoin. And if you've traded 10 times in your account and trading 10 times now is so, so, so easy, you will get another half of a Bitcoin. So you'll actually win a full Bitcoin. Now, if my prediction is right, by the end of the year, that'll be worth $50,000. So here's the chance for you to really win $50,000. Go to Banter Bubbles, click on the win a Bitcoin link, make your predictions. I see Novovich predicted a few seconds ago. He says 39, 40, 80. He doesn't know what he's talking about. He's way too conservative. Albert Flipsen, he was on 11 minutes ago. He said 43,652. He's wrong too. Let me know what you think. Let me know what you think in the comments. Anyway, let's move on to the alpha of today because I have to get from here. I need to go for dinner, and I need to go and do what you do when you're in Amsterdam. And if you've been in Amsterdam, you'll know exactly, exactly, exactly what I'm talking about. So let's get into the alpha of today's show. And I think what we should do is we should start off by looking at the Bitcoin price. Bitcoin, of course, is fighting this resistance. I told you this resistance is not going to just go away. This is the flip into the bullish territory that would give us this whole bull thing, this whole bull trend for the whole year. As it comes to the monthly, today is the last day of the monthly close. Now, I said at the beginning of October, I said that Bitcoin would close the month 23.5% up. It looks like I'm going to be proven wrong. Bitcoin is going to close the month 27.5% up. So 27.5% up instead of 23.5% up. Now, the good news is, so here's some really, really, really, real good news for you guys. The good news is that in any previous cycle, first of all, the good news is that November, as you can see over here, is the best month for Bitcoin across all months. If you take Bitcoin across all months since the inception of Bitcoin, and by the way, the inception of Bitcoin, the white paper was exactly 15 years ago. So exactly 15 years ago, we had the Bitcoin white paper written. And you can see Gary Gensler, even Gary Gensler writes this very, very, very weird message. He says, if Satoshi Nakamoto wrote it for Halloween, would we be able to tell? Happy 15th anniversary to Satoshi's famous white paper that started crypto. Any crypto companies that are tricking investors should be treating them to compliance with securities laws. This is the head of the SEC. I mean, Gary Gensler has gone absolutely crazy. Anyway, so where are we? In November is generally the best month for Bitcoin. But in this November, specifically, it's a pre-harving year. And the previous pre-harving year, we had a 21.44% increase in November. I think that this November is going to be different. I think it's going to be even harder. And I'll tell you why. First of all, as I said, we are moving into range 4. Range 4 takes us into all-time highs, all-time high, or previous high territory. But more importantly, we are tracking similar to all the other cycles. So if you look at all the other cycles, the Bitcoin is 113% up since the cycle low, which aligns with the two cycles, 15% and 18%. The first one was 116%. The other one was 164%. So far, we are tracking exactly like all the other previous cycles. But this time, we have another force at play. And that other force at play is exactly what you're seeing on the screen. It is the institutional FOMO, which is about to hit the market. Because right now, the institutions are getting a very, very, very big FOMO, a very unique FOMO. They're sitting here like we sit at the slot machines and go, come on, come on, come on. We want to buy, and we want to buy, and we want to buy. And the latest indicator of this FOMO, the latest indicator of this FOMO is Stan Druckenmiller. Now, Stan Druckenmiller is one of the world's most renowned investors. And yesterday, he was interviewed with Paul Tudor Jones. And I want you to hear what he said about Bitcoin. Because this just shows the type of FOMO that the institutions are trying to get. We're living through a marketing exercise that has been done. Since Larry Fink went up and said that Bitcoin is a safe haven and a store of value, we're moving into this new era of institutional FOMO. We've had many other institutions come out. And the latest of these is Stan Druckenmiller. Listen to what he said.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Yeah. Look, I think blockchains are going to be technology is that really impact the future of almost all types of software. And so it's worth getting some some exposure to that, experimenting with what that looks like to you. If you work for a large company, you know, you should have a blockchain pilot program going on somewhere. Right. I think these things are really powerful and impactful. And, you know, today, the types of things you can build on Solana, you can't really build anywhere else. So that's that's incredibly exciting to see. So, you know, I suggest people sort of take a serious look at blockchain technology and not just sort of listen to sort of some of the skeptics that talk about, you know, problems with the tech, there's problems with every tech, there's problems with every form of government. There's problems with everything, right? Being a skeptic is the easiest thing to do in this life. It's the easiest thing to do. The hardest thing to do is to look at something is not fully there and say, you know what? I can see where I can make something on this and then go build something with that inspiration that you can find me on Twitter at Austin Underscore Fidera. Awesome. Thank you so much, Austin. Yeah. All the best and bye for now. Thanks.All right, there you go. That was Austin from the Solana Foundation. Yeah, enjoyed that. Very smart guy. Yeah, some great perspectives there from from Austin. Yeah, some really good answers and the hot take around. So well done, Austin. Thank you for coming on. Thank you for listening, team. Please do make sure you're subscribed to the Crypto Conversation and whatever podcast app you are using. Thanks to BigGet, our sponsor. And yeah, we reached the end of another episode. This was the Crypto Conversation for Brave New Coins.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"I love it. All right. Austin, sci-fi author William Gibson said that the future is already here. It's just not evenly distributed. With that in mind, can you think of an example of the future being here right now? But most people aren't aware of it. You know, there's so many examples of this. I think there's small day to day practical examples like go to Tokyo and use the metro system and compare that to any other public transit network in the world. Right. Like it is cheaper. It is a thousand times better. The future is there. Right. It's just it's not everywhere else at this point. And there's there's a lot of other examples of this, too. I think I think from from medical technologies, we're actually at a place where we really actually do know how to make humans live a third longer than they do today. And that is available to a certain class of wealth today. I think we're going to see that kind of scale out over time and longevity medicine become a much bigger thing. We'll sort of see, I think, I think how that goes. But, you know, to this point, and this is a little bit different than the quote, inventing technology is easy. Creating the cultural paradigm that makes that technology useful. That is the thing that takes a very long time. And so I think often both the UX and the cultural acceptance of a technology dramatically trail where that technology actually is today. And so the future is usually here for those willing to deal with it. The future is not necessarily allowed in a broad spectrum yet. Yeah, I think that's a really interesting way of expanding on that quote, Austin. I think you're exactly right. And look, to use your example of, let's say, the long the longevity movement. Right. So there is there are these let's just say longevity influences, if you like. There are people out there that are experimenting with all sorts of protocols and supplement stacks and exercise routines and cold plunges and hot saunas and all that good stuff. But, you know, to to go down that path requires a set of skills, everything from discipline to a little bit of money and the time and energy to do it. Whereas if we're talking about America, the average American is stuck in, you know, a dead end job and the kind of food options that they have are almost designed to make them obese and sick. So it's kind of a weird world that we live in where those two things are true. Right. Yeah. There's also this whole thing about like this is this is a little bit different. Right. But like people are very focused on what they can quantify. They're very focused on numerical metrics. Right. So how many extra years can I live if I take this supplement every day? So it's nothing about how enjoyable your life is going to be. So there's nothing about how much you're going to use that time. Are you going to use that time? This is like the I think this is the biggest paradox of modern society is that we are filled with a whole series of of convenience optimization technology, whether that's Uber and DoorDash and, you know, meal delivery boxes. And at the same time, we're spending all of our money on like streaming services and like, you know, watching TV. And it is a very weird mix of like my time is very valuable. Therefore, I need efficiency tools, but also I need to be engaged by something else so much. I'm willing to pay large amounts of money to be engaged by other things. It's a very interesting paradox. Yes. The brave new world amusing ourselves to death kind of idea. Yeah. Fascinating. All right. Brings us nicely, really, to the final question. Austin, which is what is your favorite science fiction book, a film or TV show? This is a hard one. This is a really hard one. So I think comprehensively, I really think that I should call it the Speaker for the Dead. Zen aside, Children of the Mind, three books and Ender's Game, which comes before it by Orson Scott Card, are exceptional. They're not just sci fi. They're they're sort of philosophical sci fi at a level two, but really, really interesting. They're kind of old at this point, but I think they really hold up very well. The other one is and I forget the author's name, Children of Time. That series of books, which is sort of about non human intelligences and their relationship to how humans exist. That is also a book I would I would highly, highly recommend to folks as well. Yeah. Children of Time. Adrian Ticovski, I think. That sounds correct. Yes. Yeah. There you go. 2015, I think that was published. All right. Well, great choices. Thank you for sharing that, Austin. And look, thank you so much for spending some time with us on the show. I very much enjoyed hearing your perspectives on everything from, yeah, well, sci fi to long longevity influences. And of course, all of the good stuff that you and the team are working on at the Solana Foundation, I guess just to close it out again, make the case for for why people should use Solana. And look, if you got if you're on Twitter, look, shout out your Twitter as well or whatever we're calling it. Sorry.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Excellent. Thank you. I reckon we go to a very quick break and then we'll come back. We'll have some fun. We'll finish off by running Austin through the very famous crypto conversation. I'll take around back in one second. All done. You mean the toast? Something tastier. I've just copied an elite trader on Bitgap. One click and it's done. What do you mean? Well, I don't have to sit here manually spying on the moves of smart money and crypto and copy them. I just have to click once, sit back, and Bitgett does the rest. You are so lazy. It's about working smarter, not harder. Copy it until you make it. Hands off, gains up. Start copy trading on Bitgett. All right, we are back in with Austin Federer. Austin is the head of strategy at Solana Foundation. Yeah, I guess stewarding all good things for the Solana blockchain network. Austin, I'd like to finish each podcast with a quick round of rapid fire crypto conversation hot takes. Are you up for it? Yeah, let's do it. Let's do it, Austin. Just going to run some questions that you just want kind of, you know, a hot take style answers, but no right or wrong way to do it. Question one for you, Austin. Where would you say that you sit on the Bitcoin maximalist to multi chain opportunist spectrum? I think Bitcoin is one very small part of blockchain. It's the most highest market cap today. I don't think that's going to be true forever. You know, we owe a lot of our existence to Bitcoin, but, you know, Bitcoin is just one thing. And I think it's great at doing that one thing. But the scope of blockchain technology is so much larger than just Bitcoin. Very well said. Wouldn't have expected you to say anything less. Thank you, Austin. And what would you say, though, is your firmest conviction crypto opinion? Oh, boy, I think the self custody mindset is going to stick in this space. I think a lot of folks right now are trying to figure out ways that you can basically make semi custodial solutions to make it easier to onboard people. People learned how to type HTTP colon slash slash into a Web browser. Right. Wallets are not hard to figure out. Self custody is not hard to figure out. We just need to build compelling enough applications to force people how to learn how to use this stuff. Yeah, so I suppose that's true. It is still. Yeah, I mean, the custody thing, it is a sticking point, though, because people can use a wallet, but it's, you know, it's writing down a seed phrase and then not losing it. That kind of stuff is it's a bit weird for people. Yeah, I think it's a bit weird for people, but like, I don't think it's weirder than a lot of the other technology we use. I think it's just the value proposition isn't as clear to most people today. Yeah, good way of putting it. All right, Austin, Bill Gates famously said that we tend to overestimate what we can accomplish in two years and underestimate what we can accomplish in 10. So, look, 10 years time, whatever you like here, Web3, blockchain. Solana, what does it look like in 10 years time? I think in 10 years time, most financial systems and in fact, most data integrity systems in the world are using blockchain for a significant portion of their applications. It doesn't mean these are going to be public blockchains necessarily. This may be that private blockchains get adopted as like internal company systems. But one of the cardinal sins, like the original sin of the Internet, is it was not built to make trust easy to establish. It was built assuming you could trust everyone and blockchains are built assuming you can trust no one. And I think that that programming paradigm, that software paradigm solves a lot of pain points today for people. And we're just starting to see enterprises and businesses start to take use of this technology. I think the next 10 years are going to be a wholesale adoption.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Perhaps there are signs that may be softening, perhaps not. But obviously it's a it's a big topic. But just curious as to your thoughts. Yeah, you know, I think in the US always has had an interesting relationship with blockchain regulation. I'm in New York where the bit license is a dominant form of regulation here, which is, I think, you know, depending on who you ask, either a terrible failure or a huge success. But, you know, the United States in general has a whole bunch of laws on the books that could address crypto. The problem that we have here is that there's no clarity. Right. So I think everyone building on blockchain today, ninety nine point nine ninety nine percent of them, they want to follow the rules. They want to keep themselves out of trouble. They want to just build an awesome application that works for people. The problem today is there's no actual framework to follow. Like if you're building a banking application or a fintech application or, you know, Robin Hood or, you know, pick your pick your type of social media application, there's a whole series of rules and regulations and laws that lay out, you know, what your responsibilities are, what they are not. Congress has failed to create any sort of framework. The SEC has not proposed rules that would govern, you know, blockchain either. And so we have this attempted regulation through enforcement and regulation through enforcement does not actually clarify what is and is not allowed. It just gets you a list of things that people have been charged with previously. And, you know, what we've seen is the SEC has actually failed to make many of their cases that have gone before courts at this point. And so, you know, in the US, I think we're in a place where we're going to have to see. Regulators proposing rules if they want to regulate blockchain, because going through the court system has not necessarily proven to be successful for them at this point. I think that's what everyone wants. Right. There's a there's a few stablecoin bills that got traction earlier this year that seemed really strong. Right. They would outline what a payment stablecoin is and there would be, you know, proofs of reserves required and all that. That was really quite interesting. I think that would have helped move the industry forward. And so regulation is not something to be afraid of. I think there's a lot of folks in crypto who seem afraid of regulation. I think regulation provides a lot of needed clarity that's actually holding this industry back. But we're also seeing at the same time, you know, different places in the world, whether it's Singapore or Japan or Dubai, that are creating much more crypto friendly regulatory frameworks or even just quite simply regulatory frameworks. And those are attracting a lot of developers. And so I'm you know, the United States is the best place in the world to build a blockchain company currently. I don't know if that's going to necessarily keep being the case. Yeah, very well said. Thank you, Austin. All right. As we finish off this part of the podcast, then just for anyone listening who is perhaps hasn't used Solana before or indeed is interested in learning more about your goals at the Solana Foundation. Just where should people go? What should people do? So one of the best places is just Solana.com. If you're a developer, there's Solana.com slash developers, tons of information up there as well to look at. And, you know, you know, what I would say, though, is like get a little bit of soul and start playing around on the network, download phantom or glow or soul flare or any of these great wallets for the Solana blockchain. And, you know, transaction fees are so low that with a dollar, you can actually go and experiment with a ton of different applications and sort of see what's possible and see what it's like to use the Solana network.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Yeah, I mean, you're right for any any well, let's just say for any blockchain to survive over the long term, we need to see the blockchain not only go through the kind of, I guess, beer and bull market cycles and come out the other side, but also, yeah, be attacked. That's a great way of putting it, actually, because you need these blockchains do need to be resilient to all kinds of different attacks. And we have seen that. I guess one hangover is, of course, you know, the FTX estate, if you like, has, you know, various holdings and investments spread across, you know, all sorts of different. Yeah, well, everything from, I think, anthropic A.I. to, you know, a lot of different crypto tokens, including including Solana. But I thought I saw did I see that the FTX estate have decided to stake a lot of those Solana tokens, Austin, that that seems to be the case. I don't really have any insights beyond what's been publicly reported on that bankruptcy procedure. But, you know, most of those many of those tokens are locked for multiple years. Right. There's a blog post up on Solana dot com that actually goes into all the tokens that were sold to FTX and what those locks are. I think that the bankruptcy proceedings have published a lot of that information as well. It's in no one's interest to dump a bunch of tokens on a market and crash the price. Right. That is not in the interest of the creditors to FTX. Right. The folks who are going to be managing this process will almost certainly be managing it in a responsible fashion. So I think that's something that, you know, folks are definitely tracking and aware of. But it's not something that's sort of on my mind day to day or anything like that. I think I think at this point the network is quite resilient to these sorts of things. Yeah, absolutely. All right. Well, look, if we zoom out a little bit then, Austin, you know, just curious as to I guess your thoughts on, you know, what happens next in terms of the big picture of, you know, I suppose, you know, crypto or Web3, perhaps where the next, you know, the next wave of new users come from and how how are you guys positioning for that? Yeah, so I think there's a lot of different things that have happened this year that have really shown that Solana is the place that you can build consumer focused applications. And that is like a really big change. So for years, for years, blockchain has sort of been promising, oh, we're almost ready to build consumer facing applications. And that really hasn't happened yet. But what we've seen this year is there's a whole bunch of applications that are really only possible to build on Solana. And some of these are DeFi applications like Jupiter that really show the power of a network like Solana. And it's complicated routing systems to get the best price on trades, you know, or if it's run by tens of thousands of people all over the world that actually provide cell phone service, you can get eSIMs that run on the helium network nowadays, or whether that's, you know, something like Drip, which is distributing, you know, hundreds or 50 million NFTs they've distributed so far as part of this like membership NFT club that they have. And, you know, these things are being used by folks and they don't necessarily even know that the stuff is always built on Solana. There's this group called Teleport that's built the decentralized ride hailing protocol on Solana and you pay with a credit card like you can't even really tell it's necessarily built on blockchain until you look under the hood for it. And I think that's really a mark of success, right? No one advertises their, you know, application is being built on AWS or built on GCP. It's like you come here for the application and that's kind of what people use. And that's really I think a huge thing we've seen is that the performance of Solana delivers predictable scaling and delivers predictable price for developers to build things that are consumer facing on top of it. And it's been it's been very cool to see. Sure. And Austin, you're American. Are you based in the US? I am. I'm based in New York. So just I suppose just curious as to, you know, your take on obviously no one knows it's a big question and the tide is constantly going in or out just in terms of what you see happening, I suppose, from a regulatory perspective, because, you know, obviously it sounds like it's a little bit tough, has been a bit tougher in the US.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Using blockchain technology, it's possible to lower those fees dramatically. And so that's kind of the real promise of why a company like Visa would be interested in building products and services on Solana. Yes. And well, same thing for Shopify, though, right? There's a Shopify component? Yeah. So Shopify is a really interesting company because you think of them as sort of a merchants and payment company, but at its core, Shopify runs, you know, websites that people sell things through on small businesses and large businesses. So from their business model, they don't actually need to process payments to make money. And so they launched, they approved, and the approval is no small feat, right? They approved a module for Solana Pay to be able to be used by Shopify merchants all around the world. And so this means that any merchant can go in, they can say, I'm actually willing to accept payment in USDC on Solana. And that's kind of a big step for one of these places. It took months and months to get approval from Shopify to sort of add that plugin and that integration to their catalog. But it's them saying, you know, we see the value of people transacting globally with each other anywhere in the world. And you know, like I had to pay a bill recently and the bill was in euros and the company was in Amsterdam. And like, that is not an easy thing to do to say, I have US dollars in my account and I would like to transact in someone in euros. It's like, oh, I need an IBAN account. Well, where can I get an IBAN account? Like my HSBC account does not have one of those built in. You know, there's a whole process that goes into figuring out how do I pay this person? What is the exchange rate I have to go into? And blockchain is really a promise to make that whole process a lot simpler, right? This allows anyone anywhere in the world to buy something from a Shopify merchant and not have to worry about tons of transaction fees and sort of having the right type of account or something along those lines. You know, you still have to get the product shipped, but you know, shipping is pretty standard nowadays. So it's pretty cool to see this happen. Absolutely. And so, sorry, forgive me, Austin. So when, how long have you been in this role at Solana? I've been with initially Solana Labs and now Solana Foundation for about three years in total. Yeah. So you obviously will have seen, you know, three years, the last three years, an incredible amount has happened across the crypto space. So I guess, you know, I'm specifically thinking of what happened with, you know, SPF and the collapse of FDX ongoing court trial there. But, you know, the close relationship, I suppose that, you know, Sam and his nefarious team of traders had with tokens for good or bad, such as Solana just interested in, you know, what was that like from your point of view? There must have been some pretty intense times watching all of that play out. Yeah, I mean, you know, it's kind of funny. There was this idea that there was some close relationship between Solana and FTX, which really wasn't true. They invested more money in Polygon. They invested more money in Aptos than they did in Solana. They just happened to be early supporters of the network. And there was probably about a year of time between like, you know, mid 2021 and early 2022 where they were actually doing work on the network. But other than that, there's actually very little that went on between, you know, the Solana network and FTX or, you know, Sam Bankman Freed. So, you know, from that perspective, I think there was a lot of fear going into when FTX collapsed. This would somehow impact Solana. But what we saw in the months following is that users did not leave, right? Users kept transacting on the network. Builders kept building on the network. And, you know, the network is that is was far stronger three or four months after the collapse of FTX than it was beforehand. And so, you know, at this point, I think the network has kind of gone through trial by fire, both technologically and socially at this point. And so it's pretty impressive to see how strong of a community there is here continuing to build on the Solana network.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Yep. Makes sense. Very good. Thank you for that. I guess another news headline, if you like, Visa are going to, they're sending a USDC, the stablecoin to select merchants via Solana as part of some kind of pilot program, Austin? Yeah. So this is a fun one because they actually started this pilot program years ago, but they were running the pilot program exclusively on Ethereum. And so what they decided is basically, Ethereum's fees are high enough that it doesn't make sense for that to be the main scalable solution over the longterm for them. And after months and months of technical diligence, the engineers at Visa said that they think Solana is a great place for them to expand this program to and scale. And so Visa actually wrote a really great blog post that's kind of really an engineering overview of why they think Solana is a credible blockchain for them to build on through the longterm. And it's really, it's a great blog post to read, highly encourage folks to Google it and look at it. Because what they really come to the conclusion of is that this is a network that provides the characteristics they need to build a global payments network on top of. And it's really telling that a company like Visa is starting to build on blockchain and build on Solana. Visa operates a global payments network today. They're one of the major leaders in that space. But their vision is to really expand beyond just, you know, U.S. dollars over the Visa network and go into other types of asset classes and sort of expand what that looks like from a Visa's perspective. And so blockchains, you know, can fit in an important part of being able to sort of do that at scale. And also the cost of transacting on blockchain can actually be cheaper than transacting through something like the Visa network, where, you know, the base rate on Visa is probably about one to one and a half percent on transaction fees, plus all the other fees that get added on by, you know, other people further down in the stack to mean that a merchant pays anywhere between 2.85 and 3.5 percent on a credit card.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"All right, then. Look, just, I suppose, for the benefit of anyone who is unaware, well, just be good to hear it from yourself, Austin. So I suppose, yeah, make the case as to why you see Solana as, yeah, I guess a premium or premier layer one blockchain and what are the advantages it might have over other ecosystems? Yeah, so core to the design principles of the Solana blockchain are that it should be fast, cheap to use and scale into the future. And so these are three components that are pretty hard to find nowadays in a blockchain. So what does this really mean? This means that one global state is like the way we describe Solana. There's one database, for lack of a better word, there's one environment where everyone's transactions interact and where all of the applications that use Solana actually execute. This is, if you're used to Bitcoin or Ethereum, this is how Bitcoin and Ethereum work on the main networks today, right? But Ethereum is limited to 14 to 20 transactions per second on that one global state for Ethereum. Solana regularly pushes 6,000 transactions per second and has capacity to go far beyond that and that is due to a few different key architectural differences of how the network is actually designed. So starting from sort of first principles, fast, cheap and scalable are those core values of the network. And so a transaction finalizes in Solana in about 400 milliseconds and so that is as fast as you expect from a Web2 service and that really allows you to build the types of applications on Solana you can't build anywhere else, partially because the fees are so low. It's $0.00025 roughly to transact on the network. Compare that to several dollars up to hundreds of dollars for transaction fees and other blockchains, it's a pretty big difference. Additionally, the network is built with parallelization in mind, which means that it can do multiple things at the same time as long as those things are not overlapping. So if you are trying to send one of your friends money and I'm trying to build a note to mint an NFT, those two things can actually happen at the same time, whereas on other blockchains they can only do one thing at a time, like the EVM, the Ethereum Virtual Machine can only do one thing at a time. And so these are just architectural changes that set Solana up for a different set of problems that it is addressing than other blockchains and that's where we've really seen the network find its own and gain a bunch of adoption as people build applications that require a lot of transactions and they require those transactions to be very inexpensive. And that's kind of that core use case for Solana today. Yeah, makes sense. Thank you, Austin. Just going through, I suppose, some recent news headlines, even I suppose you'd say we're still deep in the bear market. I saw a report from, well, it was provided by you guys, I suppose, earlier this month, Solana network bolstered by increasing node count and global distribution. So yeah, I think it's the latest validator health report. So as I say, even deep in the bear market, yeah, the Solana network continuing to grow and expand, Austin? Yeah. So the validator health report is something that we put out about every six months or so, and it really provides a snapshot of what the state of the current Solana network is. And this is all publicly available information, right? Blockchains are inherently public. But key to making a blockchain work is decentralization. And there's many ways to measure decentralization. One of them is the total number of nodes or basically computers running blockchain software all around the world. And so for Solana, that number is about 2,000 nowadays. And that's actually quite good compared to most other networks. Ethereum is only 4,400 or so. So we are catching up to Ethereum in terms of total number of node counts. Another metric is called the Nakamoto coefficient, which is basically how many entities would you need to compromise to prevent the network from continuing to advance. And so classic example, the Nakamoto coefficient for Bank of America is one, right? It's just Bank of America. No one else controls that network. For the Federal Reserve, maybe you could say it's a higher number because there's multiple Federal Reserve banks out there, but it's still a very small number of entities that actually control that system. On Solana, there's 31 different entities that would all have to collude together in order to compromise the network. And that number is pretty high compared to other networks. Ethereum is 25, which is lower. NEAR is nine. Polygon is four. So Solana is actually quite far ahead in terms of its decentralization in terms of stake distribution. And so this report is really meant to snapshot where Solana is today in terms of decentralization and activity on the network and provide basically hard numbers for people to make their own evaluations on if the network is sufficiently decentralized, where should they be building software and kind of why they might want to be building on the Solana network. And we find these things actually matter a lot to folks in terms of determining where and how they should be engaging with blockchain networks.
The Crypto Conversation
"solana" Discussed on The Crypto Conversation
"Hi everyone, Andy Pickering here, I'm your host and welcome to the Crypto Conversation, a Brave New Coin podcast where we talk to the people building the future in the Bitcoin, blockchain and cryptocurrency space. 5 years ago, deep in a bear market, a group of traditional finance experts founded Bitget, and they've been building ever since. Now with 20 million users worldwide, Bitget is committed to helping users trade smarter by providing a secure one-stop crypto investment solution with copy trading, future trading and spot trading. Your security is their priority and Bitget has one of the largest protection funds in the industry with US $300 million to cover potential trader losses from unforeseen events that are not due to misconduct from the user or platform. Bitget wants to inspire everyone to embrace Web3, so if you're new to crypto, learn more at the Bitget Academy with free blockchain courses, crypto guides, cryptocurrency trading strategies and more. Or for the experienced investor, trade smarter with daily access to institutional-grade crypto market intelligence and trends analysis with Bitget Research. I've put links to Bitget Research and the Bitget Academy in the show notes, so get amongst it or simply go to bitget.com. Thank you to Bitget and now it is on with the show. My guest today is Austin Federer. Austin is the Head of Strategy at Solana Foundation, working across the Solana ecosystem on a variety of initiatives, I'm sure. Welcome to the show, Austin. Hey, thanks for having me. It is a pleasure. Let's do what we do at the beginning of the show, Austin. It'd be great if you could please introduce yourself. I'd love to hear just a little bit of your personal and professional backstory, what you've been doing in the lead up to getting involved with Solana. Yeah, certainly. So today, now I am the Head of Strategy at the Solana Foundation. So I've been at the organization first at Solana Labs and now at the Solana Foundation for about three years. So I joined the project in the very beginning of 2021 in January. And before that, I was working for Bison Trails, running a product marketing for them. And Bison Trails was a blockchain infrastructure company that got acquired by Coinbase at the very end of 2020. Before that, I worked for more on the investment side and going back, working for startups. But my original career trajectory was actually as a journalist. So my first two years at a school, I spent working for an NPR member station and the Boston Globe and PRI. So a pretty big change from that into the world of startups and technology. Yeah, absolutely. And so Solana, is that your first, I guess, endeavor in the blockchain space? No. So I originally started working in the space in mid-2017 when I joined a fintech company that was starting to build out some blockchain borrow-lend solutions at the time. It was sort of an attempt to save that company. And that product never ended up shipping. The company basically went bankrupt. But that was the first real exposure for me to building something on blockchain. And I got hooked. So after that, I went to work for Republic, which is a private investment platform for non-accredited investors, and launched Republic Crypto with the team there. And that was really, from then on, I've been working in the blockchain space. But this was the first time actually going to work for a proper layer one or layer two protocol. Before that, I was more either on the investment side or sort of on the blockchain infrastructure side as opposed to working for a foundation itself. Got it. Got it. Thank you, Austin. So yeah, I mean, Solana is a fascinating one, and I'm sure you can appreciate the nuance behind that. There's a multitude of reasons why Solana is interesting and kind of divisive in some ways as well. But we can talk about that as we go deeper into the show. But to begin with, Austin, I suppose it would be good just to understand, you know, you know, various layer one blockchains, which in theory are decentralized distributed ledgers, but many of them still have, well, foundations attached to them. So maybe just explain a little bit about the structure and I suppose the vision or the goals or the purpose really of the Solana foundation and what it does. Yeah, certainly. So all blockchains except for Bitcoin have a foundation involved with them, and the foundation is a nonprofit usually based in Switzerland. And that foundation and nonprofit really is set up for things like grant giving. And it's really important that these things are set up as nonprofits and usually Swiss foundations. There's a few other jurisdictions that work too, because that's really set up to protect the integrity of the organization over the long term. A Swiss foundation, the charter is very hard to change, unlike a US-based nonprofit, because you don't want someone to be able to come in and redirect the foundation into something with a profit-seeking motive behind it or something along those lines. And so the foundations really don't have much power besides the power of the purse, right? We are, you know, we are a primary agent that gives grants on the Solana network. You know, the first grant the foundation gave was to Solana Labs for initial development of the network. But now there are, you know, five different core contributor teams building on the network that have received grants from the Solana Foundation. And we do a lot of the work on sort of promotion and marketing in terms of like awareness around what's getting built on the network and how people might be able to sort of use that. So these things operate somewhere in between sort of like a proper nonprofit that gives out grants and sort of a industry trade group in some ways that's sort of lobbying on behalf of its members. But in our case, our members are just anyone that uses the Solana blockchain. And so it's a very interesting place to sit. We're sort of some like almost a city government, you could say, for a blockchain, except we don't actually have a police force or any real power. It's kind of an interesting place to be in.
Crypto Banter
"solana" Discussed on Crypto Banter
"They're thinking in a biased, I'm gonna bash on sulfur engagement terms. And that isn't the way to approach crypto in my opinion. So that is kind of where I've used Solana right now. It obviously totally depends on your goals, but personally, I'll be buying some next year. As I said, I have minimal exposure to the ecosystem now. I haven't been buying heavy now because I still think it has downside. I still think it could hit $4. I still think it could hit $5, but there will be a time where I take a punt. If you want to take a pump, it's completely up to you. It's completely up to your goals. As I said, but that's something that I'll be doing because I'm interested in betting on the ball case versus the bear case. And that's just a trade that I'll be taking personally. It could fail. In fact, it probably will fail, but it's plus EV in my opinion. At a certain price. Now, the price that you think it becomes plus EV is completely your opinion. You might think it were there right now at $11. You might think we're going to be there at $5. You might think we're going to be there $3. That's up to you to decide. I can't really guess the price right now because it does rely on Bitcoin. It relies on Ethereum and if Bitcoin goes down another 30%, then yes, Solana's gonna be a $4 coin. But whenever I'm generally making my buys, Solana will factor in somehow into my thinking, as will many, many other coins, by the way, but it will just factor in somehow at some percentage because I'm willing to take a risk on her. And that's kind of my opinion on the salt ecosystem, and this is probably the best way I'd use to summarize it. You have your bouquets and you have your bare case, there's validity to both, you have to out. You have to work out which one outweighs the other in your opinion, at a given price. And I've said it like three times, but I really want to drive that point home. Just quickly before I kind of wrap up on this video, I want to shout out the sponsor of the show as well, which is apex. I talked about gains before, which was an oracle style exchange, apex is an order book style exchange, so you do get different benefits from each. I think both have the validity in certain respects to the market, but the order book style exchange probably gives you more native price