Egg yolk, to all those silly sally viewers of the tube.
This is the last episode, I will be shooting in this studio back in Chico California.
Next time you will see me, I’ll either be in a studio in Lisbon Portugal, or I just
might shoot my videos out on the streets of Lisbon, like I used to do when I lived in
Miami.
How should I shoot: studio or outside?
Let me know in the comments & I’ll do what the viewers decide.
So, you know our drill, it’s time for Chico Crypto!!
Well all I have to say is Bitcoin better not be a bummer for my first few days in Lisbon!
Because the past couple of days, it has been a bummer.
Bitcoin broke $57,000 for the 1st time since May…but it couldn’t break 58.
Resistance was met late on Monday the 11th, early morning of the 12th it retried, but
as of the 12th the bears took over…and as of yesterday we dipped below 55k.
The crash from it’s high was a fall of 3000 buckeroos, or about a 5.2 percent decrease.
A pretty hefty fall, but…it didn’t do much damage to traders who are leveraging.
Checking out bybt and total liquidations, on the 12th there was 173 million in Long
liquidations, and yesterday there was 131 million.
That’s just 304 million over the past 2 days, and if you look into past liquidations
history, those 2 green candles aren’t anything special…
Like I mentioned last week, Bullish leverage traders who go LONG still have the bad taste
of September in their mouths, as we can see there were more than a few massive green candles
that month, where they got REKT, including the big day September 6th in which 3.22 billion
in Longs went up in flames.
For them to begin placing large long positions once again, we will need to break of course
58k, but also 60k, and in my opinion, even break Plan B’s October prediction of 63k.
That will be the type of price movements that will give them the confidence to LONG the
markets.
So, the BIG leverage dump I’ve been predicting, wasn’t this dump we just experienced….it’s
still to come….
So, as much as I hate to say it…Leverage is the major control of Bitcion’s price
movements now.
It’s where the majority of the volume is….over 50 percent.
Checking out Coingecko, Binance is the top spot crypto exchange with just over 26.2 billion
in 24 hour volume, and as we can see above, there is over 135.7 billion in total spot
volume, on both Dex’s and Centralized exchanges.
Well switching over to derivatives, we can see the top exchange is once again Binance,
but their derivative volume is over 78.8 billion.
Aka it’s over 200 percent higher than spot.
Then above we can see total volume from derivatives, 175.8 billion from perpetuals plus 13.2 billion
from futures, is 189 billion.
Of total crypto volume, adding in the 135.7 billion spot, would equal 324.7 billion.
So that would mean the 189 billion of derivatives makes up 58.2 percent of total crypto volume.
But, if you aren’t like the many in the space, that think they can time the markets,
and you just HODL, these short term DIPs, should have no effect on you.
They don’t have an effect on me.
I know they are coming.
Thus, with RED days, in a bull market, I don’t get scurred.
I see them as buying opportunities as this market is far from done.
Mr. Plan B, the creator of the Stock to Flow model, and price predictor extraordinaire
was just on the Maxi pad Pomp Podcast discussing his model, and predictions.
Let’s listen in…
Surprised
below 100k by the end of the year.
The Bull continues into q1 2022, and it will even surpass 135k…up to whatever soccer
flakes are, but he said 288k?
Can you say BULLISH!?
So, another altseason MUST go on…and I have a feeling there is going to be some special
altcoin airdrops before the end of the year.
I recently predicted Optimisim will be the first oprimitsic rollup, out of the 2 most
popular which includes the tokenless Arbitrum…to Airdrop a token to users on the rollup…and
I still think that is coming this year…
But I do think another rollup is going to airdrop some tokens to users…so are you
talking about Arbitrum?
Well, no I don’t think they need to.
If we go to l2 beat, which tracks TVL of ethereum layer 2’s, we can see Arbitrum is dominating
tokenless.
It has $2.1 billion locked up and up over 32 percent over the past 7 days.
That is nearly 9x the size of Optimism’s TVL, resulting in a market share of over 61
percent.
So I don’t think it’s another Optimistic Rollup who will be doing airdrop, I personally
think it will be one of the Zero Knowledge, ZK rollups doing one!
Who on the ZK list could it be, DYDX already dropped which I predicted as well, loopring
already has had a token, zkswap too, in my opinion, it’s going to be a big, future
upcoming player in the l2 space…zksync!
So why do I think this?
Well ZkSync has already announced a token!!
Back in December of 2019 they posted this blog “Introducing zkSync: the missing link
to mass adoption of Ethereum” This blog was the introduction of the testnet, and in
it they said “Guardians comprise the majority of ZK Sync token holders who stake their token
share to nominate validators.
The purpose of Guardians is to monitor peer-to-peer transaction traffic, detect censorship behavior,
and ensure validators caught censoring are not nominated.
Guardians are rewarded with fees from the Validators denominated in the ZK Sync native
token.
Their earnings and stakes are locked for a prolonged period of time, to incentivize the
prioritization of long-term ZK Sync token value over short-term returns.”
A ZK Sync native token is coming…which is confirmed an the rollups documentation.
It says in the Tokenomics sections.
“Will ZK Sync have a native token?
Yes!” and then below that the question is aksed-When?
How can I get the token?
They say “Our efforts and focus have been so far dedicated for the development of zkSync
and its security” And they give links for their socials for updates.
So why do I think they are going to do an airdrop?
Well they basically did in the past in their documentation and tokenomics section.
Using wayback machine, and going to that specific page, as we can see under the question: When?
How can I get the token?
They said “We intend to distribute the majority of the network government rights to our community.
Please follow our news to get all the important updates”
Distribute the majority of network government rights to the community.
If that’s not words for a community airdrop, I don’t know what is!
And guess what, I’m going to show the steps to possibly be eligible for this airdrop,
if there is one…and I think it’s highly likely, the writing is on the wall.
But before we get into that, it’s time for a sponsored segment of this video supported
by the team over at Trustswap, and like always the full details of our agreement can be found
below!
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TrustSwap recently released some exciting news with their sponsorship of Champion UFC
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She will be reppin’ the TrustSwap branding for her Title showdown at UFC 269 on December
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She’ll also be helping promote TrustSwap’s latest acquisition TheCryptoApp…
The crypto app will soon serve as a major catalyst for the TrustSwap ecosystem as the
team in currently updating and creating new integrations for the app… the CryptoApp
already has over 2 million plus downloads and over 700,000 active users.
It’is one of blockchains most popular applications with more downloads than the coinmarketcap
app and the crypto.com app.
Now let’s dig a bit deeper into the launchpad because it offers guaranteed allocations on
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Anyone staking 4,000 Swap gets a full 24 hours to fill out their allocation form.
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No lottery, no need for luck… everyone who wants in… get’s in to launches
The next launchpad project is already on the books with SIGMA Studios, an American video
game and software development company based in Denver, Colorado… they are launching
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token on October 21st thru the TrustSwap Launchpad.
But of course if you are American you cannot participate!
If you are eligible to particapte in these early launchpad token sales all you have to
do is stake SWAP… it’s tried and true, they currently have over $42 million SWAP
staked..
And to give back to the community TrustSwap is currently running one of the coolest promotions
ive seen in the crypto space and are giving away 10 brand new iphone 13 max’s… that’s
right, giving away 10 brand new iphones... this is the kind of giveaway you actually
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Starting on October 14th, if you stake 500 or more $SWAP tokens and hold them for 30
days, you become eligible to win one of these phones… this is just the latest example
of how the TrustSwap team is always giving back to their community… make sure to visit
their website and join their discord to get the full details of the promotion and all
the other exciting things TrustSwap has going on.
Links are below!
Now back to that airdrop…Sooo, there was some BIG news yesterday from ZK, they announced
the launch of UniSync, a port of Uniswap v2, on the zkEVM testnet!
Why is this big?
Well, ZKSync in the past has had it’s own smart contract language called ZINC.
They have now created a solidity compiler which allows solidity on the rollup, so dapps
can port over easily.
This means general purpose computation with the scalability and security of optimistic
rollups but with instant withdrawals all while still using the language smart contract devs
are used to, Solidity.
But they also say this in the blog at the very end “P.S.
We have some very exciting news coming soon!
Stay up-to-date.
Airdrop?
Is that hint of it….if so then first, I would test Unisync out.
So let’s do it.
You can find the dapp in their blog, or it’s down below in the description.
Open it up, click Launch Dapp, and the next step is to connect a wallet.
Connect using metamask, and select the wallet you would like to use and click next.
It will then tell you you are on the wrong network, but will automatically fill Metamask
in with the network details in Metamask.
Over there, just click approve and then switch network and it will connect you to the testnet.
Now you don’t have any test tokens to use, so you can click request tokens form a faucet,
and to get them you will have to have a Twitter, and tweet with their pre-populated text.
Just click tweet, and it will automatically do it for you on Twitter.
Just click tweet on twitter to post, confirm it’s there and then go back to the Unisync
interface and it should show the tokens successfully claimed after a short bit.
Now you have 300 test USDC in your wallet.
So let’s swap those bad bois!
First put in the amount you would like to swap, we will do 150 USDC, and then click
the token you would like to swap into…we are choosing that stinky, stinky LINK.
Then you have to allow Uniswap to use your USDC, click that and sign the transaction
in Metamask.
Now we can trade, click swap, confirm the swap, and sign the transaction in Metamask
and boom, you made your first swap on Zk Sync, which as we can see just took .167 seconds.
Blazingly fast!
Now there is more you can do to prepare yourself to be eligible, and this is live on the mainnet!
At wallet.zksync.io, link for that is down below too, you will find the zksync mainnet
wallet.
Here you can transfer to the l2 wallet from Ethereum l1 mainnet, also here you have the
option to mint NFTs on the zksync layer 2.
And look at that NFT mint price…just 1 and 13 cents.
And I’m doing all of this, because I do really think they will be doing an airdrop…a
big one.
Cheers I’ll see you next time!