welcome back everybody to altcoin daily my name is aaron the reason why you subscribe to this
channel is because on a daily basis we break down everything going on in the cryptocurrency space
we make this whole market easy to understand in today's video i'm going to put three different
cryptocurrency projects on your radar that the data is showing us these projects are
about to go parabolic i'm going to play you two different video clips from two different sources
that give us further insight on what's going on and where this market is going into the future
we're going to talk about the pudgy penguin nft craze we're going to talk about sushi
versus uniswap and the infighting going on in decentralized exchanges we're going to talk about
the ethereum ecosystem and specifically ethereum layer 2 scaling solution polygon and why the
whales are buying so much of this and of course we're going to start off with the market at large
you know in order to be bullish on alt coins i have to be bullish on bitcoin and the market
movers so we're going to check in to what's going on with the market first if you appreciate us
coming at you on a daily basis give this video a like support the channel and let's get into it
bitcoin bitcoins on chain data continues to look impressively strong bitcoin
user growth looks like it's about to go parabolic so check out all of bitcoin's price history
and all of bitcoin's user growth history what we're seeing right now looks to be like
this thing is about to go parabolic and this is the log chart i want you to understand this
parabolic it's the role of a log chart to make parabolics look like straight lines
so we can gauge parabolic trends better this is parabolic squared this looks amazing perhaps
user growth is the number one thing for any network so incredibly bullish and that's just one
of many bullish on-chain metrics for bitcoin when it comes to bitcoin's supply shock bitcoin has
continued to flow out of exchanges in august at a rate between 75 000 and 100 000 bitcoin per month
let's get some perspective on this this magnitude of outflows is similar to the period between 2020
and q1 of 2021 where we saw heavy accumulation where we saw gbtc arbitrage and is particularly q4
of 2021 the beginning of this huge rally going into the rally in q1 so understand this the
accumulation that we're seeing today and for the past several months in bitcoin is on par
with the accumulation we saw in q4 of 2020 right as bitcoin was about to enter into a you know huge
rally state going from 10 000 all the way to 65 000 and let's go even further who is accumulating
this bitcoin well 76.8 percent of bitcoin's money supply is actually held by strong hands
so throughout the assets speculative history a large percentage of supply became liquid that
was until march 2020 when this trend began to reverse a new type of market participant emerged
a rick astley a never going to give you up so this chart speaks volumes it's the percentage
of bitcoin that's moved to strong hands wallets that don't have a history of selling and what we
see really since the bottom in 2018 but definitely since the pandemic bottom you know a year or two
later we've just seen so much bitcoin move to strong hands people who are huddling bitcoin again
this is incredibly bullish so there's just so many reasons today to be bullish on bitcoin take a look
at your screen there's so many things bitcoin is looking strong the market is looking strong and
that brings us to cardano cardano could be ready to retest all-time highs i believe that recording
cardano is above two dollars right now yeah cardano is back in the green following six long
month consolidation period the big news of the day is all about cardano if you are a cardano believer
if you are an ada holder this is the announcement that was made regarding smart contracts earlier
today so that we can have a complete smart contract release ready for people to use our full
smart contract toolbox ready for the alonzo hard fork and this is the date that we're aiming at
monday september the 12th thank you nigel that's a date that many many people have been looking
forward to uh to hearing of course as much as it's a destination it's also a beginning it's
the implementation of pluto smart contracts on cardano this is really where we start bringing in
the ecosystem and start bringing in the community to start building and deploying their products but
what do smart contracts on cardano really mean let me know in the comments if you think this is
a big deal and let's listen to the experts as they describe why smart contracts on cardano is such a
big deal what the first dapps who are the first adapts and what are they that will utilize the
smart contracts and just what we can expect now that this upgrade is finally going through kevin
maybe you can tell us a little bit more about this smart contracts is a well-known term but what this
really means is it means dexes it means new defy applications it means a host of new d apps and uh
and functionalities coming to cardano perhaps you can talk us through what people can expect to see
on day plus one yeah we're expecting some new applications right from the very start including
uh the ones that are pluto's partners are working on uh with more arrivaling after the hard fork
and of course this is really a completely new era for cardano because with the hard fought
what we're doing is delivering the core smart contract and scripting capability
that all these applications can start to build on initially there's going to be a focus on using cli
as we've done with the blue white and purple test nets but as we roll out the pab that's going to
improve the developer experience making it easier to develop complex d apps with both integrated and
on-chain components and all of them are going to be written in a safe and verifiable environment
and the best thing of course is that all of this additional functionality all of the
new d-apps that people are going to be writing won't require another hard fork once we've gone
to alonzo all scripting capability is going to be there people can pick it up they can use it
so we will be in a situation where people can develop the applications they want to the d5
applications they want to on cardano so there we have it the first of september for hardworking the
test net followed by the 12th of september for the mainnet bringing on a new era of smart contracts
to cardano so before we get to our next parabolic projects on my radar that i want to point out to
you let me recommend a hidden gem youtube channel seriously this guy only has a thousand subscribers
am crypto this is a trading channel now we don't do a lot of trading on this channel in fact we
don't give out buy or sell signals at all yet i understand there's a portion of our audience
who would value a quality profitable trading youtube channel so i recommend that all traders
subscribe to this channel am crypto is a trader that i'm friendly with i have met him in real
life he is a profitable trader but nobody knows about him i'm going to leave a link
in the description i recommend that you subscribe to this guy immediately he's not going to have 1
000 subscribers for long so let me show you some examples of his work this is him from a
recent video bitcoin is breaking again into our resistance box and it is over forty six thousand
dollars but will we actually now stay in this box or is there another drop coming that is something
that i want to talk about today hi my name is alex from iron crypto and you know it already guys we
jump here straight into the charts so am crypto is sponsoring this portion of the video he is a
profitable trader i think more people should subscribe to him that's why we're doing this
but this is the type of trading that he does on his channel and the type of value he provides
check this out so here you can see a strong bounce directly above 44 000 again and then now
this move here straight into our resistance box so that is something that we wanted to see and guys
if you remember i had also mentioned to you once we are able to stay here in this box we will get
into higher levels here and fifty thousand dollars and beyond is uneventable but there was also um
another technical reason why we were here again moving to the upside and that's something that
i wanted to show you um yeah unfortunately i saw it too late otherwise i would have sent you
a trade signal for it and then we'll see this w pattern so we could have traded this so it
is a small value pattern but still so we have here met the technical target all the way up
so and um yeah let's check how much percent that would have been so but i congratulate every one
of you if you were able to spot that so it was roughly two percent so if you
would have traded with 20 x it would have been a quick 36 percent gain here that you
could have um yeah banks quite easy if you remember i had said
if the price action continues to go here higher and higher the 50 will follow suit
and here pretty soon potentially by the end of the month early september we will get our golden cross
and this golden cross will push bitcoin and now listen guys i'm almost 9 100 99.99999 sure that
this is gonna happen once we get the golden cross i believe we will see pretty pretty soon after
that a new all-time high forty six thousand seven hundred eighty dollars approximately
there is a gap in the volume profile here so and this gap will allow us to jump straight
up here all the way up to 48 500 approximately and to test this resistance that's based here on the
volume profile so if you want to enter a trade there is your chance guys you can open a trade
in my opinion now let let me draw this out for you so if you are here right now on the sidelines
and you are looking for a trade you can open a trade from forty six thousand seven hundred eighty
to forty eight thousand four hundred dollars it's a three point four percent
trade so with 20 x leverage it is a over sixty percent gain that you can make
here so if you would continue this trade and you don't want to get out at that target at 48
361 then what i would suggest is that you trade your stop loss up to let's say 47
600 around that range and then you can continue to write it up because you will be anyway in a profit
so you will at least get out of this trade with 36 percent so he'll do short term time
frames he'll do bigger time frames obviously the goal is just to find profitable trades so he has
1 000 subscribers right now i'm gonna leave a link to his youtube channel in the description
let's get this guy up to 5 000 subscribers just give this guy a chance check out a couple of his
videos i like this guy i've gotten value from him and with that being said let's move forward matic
polygon is our next parabolic project polygon is rallying as whales go on a buying spree this is
verifiable matic looks primed for further upside as buy orders pile in now as you know matic is a
layer two ethereum scaling solution projects would opt to get on the medic blockchain if they want
ethereum's security but they want something that's more transaction friendly in regards to speed
and what we're seeing with matic is undeniable weekly growth formatic is incredible it is
compounding in the last week alone matic averaged 157 000 active users a day of course pictures are
worth way more than words and this is undeniable so very bullish on layer two for ethereum and and
decentralized finance in general sushi swap says optimism which is also an ethereum layer two or
a scaling solution sushi swap says optimism showed favoritism to uniswap during layer 2
launch sushi swap cto says that uniswap was given a preferential treatment due to vc influence so
of course you know sushi swap and uniswap are two of the largest decentralized exchanges on ethereum
recently due to ethereum's scalability issues and high gas fees both exchanges have been exploring
layer two solutions in order to handle more transactions they both were looking to integrate
with optimism now sushi swap says that uniswap was shown favoritism because they're backed by so many
vcs and they deny it of course but this is what's going on in the decentralized exchange world let
me know in the comments what you think about this let me let me know if you're more bullish on sushi
swap or uniswap which is still the brand name and actually our final parabolic project today is a
non-fungible project it is pudgy penguins pudgy penguins nft craze takes flight as daily volume
tops 11 million in ethereum so an ethereum based nft project called pudgy penguins is blowing up
right now more than 11 million worth of the collections nfts have been sold on secondary
markets within the last 24 hours alone so first we had crypto punks then we had board apiac club now
we have pudgy penguins and you know that's why i put them on the list of projects that could
go parabolic if they're going to follow in the trends of you know the other two
so pudgy penguins hardly breaking the mold for ethereum-based nft sets
there's 888 of them in total each depicting a different cartoonish penguin assembled from an
array of randomized traits some of hats gloves mohawks bowl cuts t-shirts scarves it's similar
to those mentioned above except with a generally more wholesome allure but just like crypto punks
just like the apes they're selling like hot cakes these are pudgy penguins this is what's going on
in the nft space i wanted to let you know what's going on with ethereum in general whether we're
talking about nfts d5 stable coins almost 40 000 burned and it's been less than a week and that
is it for me today my friends let me know what you think of all this in the comments see you tomorrow