Tokens, cryptocurrencies, altcoins…..when they all start running…making BIG moves upwards,
we call that an altseason. Everyone loves it when that time of year, the season arrives
because euphoria hits an all time high just like the altcoin prices. So are you ready to get
euphoric for the rest of your day or night? Well let's party…because it’s time for Chico Crypto!
Yes today, we are talking about those Altcoins…and
westarting with the term Altseason. What is Altseason? Well like I mentioned it’s a
time when a majority of alts start flying, and bitcoin dominance starts to crumble. …
And if we look at the signs in the markets…it seems an altseason is beginning. From Page 1 of
coingecko, the top 100 coins..a few coins are starting to go parabolic like stacks,
shiba inu, and terra…while other coins have healthy 24 hour gains.
Actually 70 percent, 70 coins had a higher 24 hour pump than Bitcoin…
Altcoins are starting to move…which of course is hurting Bitcoins dominance.
From this chart we can see that BTC has broken a critical support level of 42 percent dominance,
which the charter shows…means a DIP down to near 40 percent dominance. Why?
Well pulling out an expanded dominance chart…in the past, whenever this 42 percent level
has been broken, it has resulted in BTC dominance falling to this 40 percent level.
Now some of you might be saying. 2 percent dominance loss. That isn’t that much
at all. Yes, it actually is. If you didn’t know the marketcap of the crypto
markets is over 2.75 trillion dollars. 2 percent of that is at least 55 billion.
That means at the minimum, if BTC drops to 40 percent dominance, 55 billion will be flowing
into altcoins. And It’s likely to be much more than 55 if the markets stay bullish..
But…it’s possible altcoins break further into Bitcoin dominance, and Bitcoin goes below 40k
dominance… as there is a major indicator of an altseason…making BIG moves. And that is Ethereum…
Ethereum has officially broke through 50 percent of the way to the flippening of BTC,
meaning Ethereum’s market cap is just half of that of Bitcoins.
As we can see, Ethereum is 50.6 percent of the way there…breaking that key resistance level of 50
percent. And it has been rejected from this level 3 times in the past.
September of this year, May of this year, and then all the way back in May of 2018.
It broke this key resistance level, 2 times in the
past…first time June of 2017, and it reached all the way to 83 percent of the way
to the flip then. And then again in January of 2018, where it reached nearly 65 percent.
Now pulling out the BTC dominance chart with Ethereum included, we can see…on or around
these two occasions, BTC dipped below 40 percent dominance of the crypto markets,
the only few times this happened in its history.
Now how about we add in Others into the chart, all other altcoins out of the top 10 combined…as
we can see, when Ethereum broke 50 percent of the flip…Other altcoins, also surged, and surged even
further..actually gaining more dominance than Bitcoin…it was a signal of a MAJOR alt season.
Sooo, even if you don’t like Ethereum, you should be rooting for an official break of 50 percent of
the way to the FLIP. Ethereum does it, and keeps moving past it…a major Altseason will occur….
But now…it’s time to talk about a coin who I
could be seeing a very bullish altseason, if this was to take place…
And this coin has a lot to do with Ethereum…and the crypto is….Unibright!!
Now first looking at the price, since UBTs all time high of nearly 4 dollars
set in August of this year, there has been a significant retracement. It has fallen all the
way down to below 2 dollars, yesterday it was at about $1.90 cents. An over 50 percent decline.
Although expanding out the chart, you can see the bullishness in it. There have been
retracements like this in the past, but UBT has always bounced back. The last big retracement was
when the price dipped from over 2 dollars, down to below 1 dollar. An over 50 percent
decline…before it had the big runup…so with this 50 percent retrace…for me,it’s a total BUY Zone.
Now it’s not only the chart that is signalling me bullishness for UBT…it’s
the fundamentals. Like I said Unibright has a lot to do with Ethereum…
And Joe Lubin, Co-founder of Ethereum, and CEO and founder of the Enterprise Ethereum company
Consensys tweeted just that. He said back in September “Important milestone for baseline
protocol today. Testnet of the Baseledger is live. Universal IT system synchronization,
backed to Ethereum. See details at with a link to the baseledger Testnet.
Yes the Baseledger, it’s the way Enterprises are going to be able to deploy their operations,
including the Supply chain, and ERP systems like invoicing to the blockchain,
and it’s going to be secured by Ethereum!!
And we can see, the major components of this baseledger come from both provide and Unibright!
And if you didn’t know, Provide and Unibright have partnered together, became one for this
undertaking…their technologies are the basis for the baseline protocol and baseledger. And
then there is this, the UBT token is used for all major pieces. UBT token is used for the Unibright
Framework Workflow designer which includes Provide shuttle and baseline as a service. UBT
is used for the Unibright Connector, which is SAP certified. UBT token is used for th baseledger,
and the UBT token is used for Freeequity, the enterprise DeFi tools for the baseledger.
Now, going back to Joe’s tweet he said the testnet launched back in September of this year.
So when mainnet? Well just over a month ago from team slides during a presentation,
the ETA for the baseledger mainnet was estimated to be q1 2022.
Well, scratch that the mainnet is coming this year! Kyle Thomas, the founder and CEO
of provide was recently in the Telegram talking it up with the community. As we can see he said
“Mainnet 2021” A 51-50 replied “wait what!?” of which kyle said “you heard it here first,
December we shipping it all” “LFG, let’s freaking go…wish us luck”
Yup this month, the baseledger mainnet is coming, and they are shipping it all!! And
let me tell you, it looks freaking SWEET. Here is a preview of the shuttle dashboard,
and as we can see from the Workflows there are Coca Cola bottlers, using the shuttle!
Although, we’ve known about Coke bottlers using the baseline for awhile
now…what about something we don’t know..
What about a lending platform for the European Investment Fund, EIF who is a
subsidiary of the EIB, the European Investment Bank..aka the bank of the European Union!!
Well back in September, Unibright dropped this medium article
“Unibright to deliver Feasibility Study on the “Usage of the Baseline Pattern” at European
Investment Fund”...and the article states “A robust, transparent and fully auditable process
with which to support SME access to EIF-channeled financing where appropriate, is the goal.”
Now this is a graphical overview from the EIB of how the EIF and EIB work together to support
SMEs in financing and lending…well soon that is going to be changed,
integrated with blockchain and become baselined! Unibright tweeted their own graphic In October,
showing how baselining would be involved with the EIF and said “ Work in progress!
A graphical overview of the EU wide lending platform we are developing.”
Now, for the end of this episode…I just want to end on something FUN. A Unibright NFT and watch!!!
Unibright.VIP is the landing page, and the website says “Unibright NFT watches
300 uniquely numbered watches, 200 for sale - 5 different NFT's. Which one fits you? Yes
this is your chance to get a physical, stylish watch and a digital NFT to go along with it!
Now Paul Snijder the digital artist who created the NFTs,
gave an explanation better than I can do. Let’s watch now….
Sooo if you are interested, the steps to purchase are on the website Unbright.VIP,
of course the link for it is below…and by the way all the NFT profits from the watches
are going to charity. Get a badass watch,
NFT, and support a charity. Can’t get much better than that. Cheers I’ll see you next time!