welcome back everybody to altcoin daily so much is going on around the world and in cryptocurrency
specific coins notable people in today's video we'll talk about it if you're new to the channel
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if you subscribe to this channel already or if you appreciate what we do and let's jump right in in a
highly anticipated statement from jerome powell chair of the federal reserve to curb quote the
worst inflation america has seen in 40 years the federal reserve has raised interest rates 50 basis
points the steepest increment since 2000 their goal to start shrinking its massive balance sheet
this is the macro backdrop how did bitcoin react bitcoin's hash rate is surging
the amount of bitcoin on exchanges in fact just keeps falling meaning people are buying bitcoin
on exchanges and taking it off exchanges well who's buying retail is buying whales are buying
institutions are buying i'm buying maybe you let me know in the comments below if you are buying
bitcoin or any other cryptocurrency well hold on a second there erin why would i buy if we're in
a bear market well this is something you should consider still a huge amount of bitcoin holders
despite prices being down are in profit in fact 70 to 72 percent of accounts who hold bitcoin
are still in profit significantly higher than previous bear periods in market history so i
believe that either one of two scenarios are most likely to be true either we are in a bear market
and the worst might still be yet to come either with a price capitulation or extended time of
course that's a possibility more pain is yet to come or the other possibility is that we
look back at this three to four months of time and looking back we won't even think about this period
as a bear market and i know it feels bad obviously the prices are down but it does always feel the
worst when we're at the lowest in any given period of time let me know what you think in the comments
below ultimately if any of us knew the future we'd all be rich we can only look at the macro backdrop
we can only look at what exactly is going on and make educated guesses i'm certainly long-term
bullish if you subscribe to this channel you know my investors thesis for this decade that being
said let's jump in to some recent news of the day panama set to approve the use of bitcoin and eight
other cryptos without limitation this is huge so it's bitcoin ethereum xrp litecoin xdc network
e-gold stellar iota and algorand the details are as follows lawmakers in panama the latin american
country with a reputation as a tax haven have approved a bill that would regulate the use of
bitcoin and eight other cryptocurrencies and approve their use for paying taxes
and for private transactions this is huge this will help panama become a hub of innovation and
tech in latin america according to a legislator this will help create jobs and financial inclusion
again it's bitcoin eth xrp litecoin xdc network elrond stellar iota and algorand the currencies
would be accepted as payment in both civil and commercial capacities the bill reads in other news
get ready guys because op is looking bullish this summer if you subscribe to our channel or
follow the crypto markets you're aware that one of the most promising l2s for ethereum
a roll-up solution called optimism recently started their process of airdropping tokens
launching a token and airdropping tokens to people who use their network they did this once they're
going to continue doing it if you use optimism they laid out all the details on their site
now i'm bullish on the optimism token because of this recent news excitement is in the air it's
going to be an op summer today we're announcing the op stim pack activating a pool of about 230
million op tokens to incentivize project growth on optimism this op will be dispersed to projects
old and new to reward past and incentivize future optimism builders we're laying the
bedrock of a new digital frontier but it's the projects and users who will bring it to life
so they are incentivizing projects and users the rollout for this stimulus will occur in two parts
phase zero and phase one phase zero starts now and runs for three weeks it rewards early movers on
optimism who have demonstrated traction via on-chain criteria why am i bullish on this
because they are incentivizing builders and users with money we've seen this before if you were
around in 2021 you remember when solana did this when avax did this when elrond did this to name
a few and what happened to their l1 tokens they went wild in other news any fans of lido out there
lido briefly becomes top d5 protocol by total value locked with 20 billion staked the d5
protocol overtook curve before falling back into second place details rather interesting launched
in december 2020 lido provides staking across ethereum terrace lana kusama and polygon chains
at the time of publication lido was responsible for almost 10 percent of all value locked across
the d5 sector with 200 billion being staked across all chains more than 30 percent of all the ethers
staked on the beacon chain is staked via lido since launch lido has paid out almost 500 million
in staking rewards to more than 100 000 stakers the protocol currently offers yields of 3.6
on each and as high as 25.9 on kusama so this is a win for lido network and staking and d5
and speaking of d5 the aggregate take rate of d5 protocols globally is just nine percent driven by
radically free markets and minimal rent extraction we are witnessing a mass rewriting of the entire
financial system from scratch only this time it's both more efficient and fairer to users i love
it in other news elon musk changes his twitter profile picture to board ape nft collage and then
calls it kind of fungible so it seemed like he was really pro and then he wrote i guess this is kind
of fungible people took it as kind of a nag gary vee nft evangelist and expert goes on cnbc squawk
box gets asked the question explain this elon musk tweet listen to this just this morning elon
musk has changed his twitter profile picture to a montage of board ape uh board apes nft
images and then he tweeted it seems kind of fun i don't know seems kind of fungible to me
fungible yeah or none joining us now is a big believer in nfts gary vaynerchuk founder
and creator of v friends what do you read that to me looks like he's saying yeah you may own
one of these apes but they're out there and i can easily just put it up on my profile picture
so why pay for something like that is that what he's saying gary how do you view what elon musk's
point is here i'm not sure i think elon's got his you know finger on the pulse and obviously
board vape is the one of the great projects in the nft space i mean i can take a picture
in front of a lamborghini outside doesn't mean that i own it i could take a picture outside of
a building in manhattan and say i own it most people are bringing their internet brain to the
blockchain so they say silly things like that the blockchain is a ledger that shows ownership this
is what always happens when there's big technology changes so i'm empathetic to the point of view but
um just by clicking or putting a picture doesn't mean you own it just like in real life
right speaking of nfts it's all happening coinbase nft is excited to finally announce
that coinbase nft beta is finally open to everyone meaning that you can go set up your new profile on
nft.coinbase.com i did it if you already have an nft wallet you just have to link your own
you can see my profile and some of my nfts in my collection right here i have clicked around
coinbase nft a little bit as far as ux ui it seems to be pretty solid cardano things are
looking up for cardano retail interest is rapidly increasing the balance held by trader addresses
holding for 30 days or less has increased by over 100 percent almost 200 percent in just
30 days these addresses now collectively hold 36 of the ada supply seems to make sense as ada only
continues to build out develop integrate in fact the total number of projects building on cardano
right now over 900 not even a thousand yet but we're growing rapidly with most of them being
nft collections developer tools api library and i mean we really have tons of stuff and finally my
friends binance is now fully regulated a digital asset service provider in france they are fully
compliant and regulated in france congratulations by nance congratulations crypto there was a time
when no exchanges were regulated and over the last few years we've started to see tons of
licensing and tons of stuff like this crypto is here to stay they recognize that that's it
for me today my friends my name is aaron altcoin daily subscribe like the video see you tomorrow