all the right welcome back everybody to alt coin daily my name's austin right now in real time
we are watching cryptocurrency accumulation happen both bitcoin and ethereum grinding upwards
certain select altcoins grinding upwards but why why are altcoins pumping in today's video i want
to share with you the latest cryptocurrency news involving coinbase and bitcoin involving openc
and ethereum as well as litecoin avalanche algrand and much more like always check the
timestamps down below in the video description and let's jump in starting with coinbase
coinbase has just applied to list crypto futures products so the company has filed to become a
member of the national futures association and why this matters to you because i know many
of us aren't necessarily future straighters this could have big regulatory implications if approved
coinbase has taken the first step to try and list crypto futures products we know this according
to a search on the national futures association website and a tweet by coinbase in a direct quote
this is the next step to broaden our offerings and offer futures and derivatives trading on our
platforms and what's interesting is the coinbase entity the company that we know with the ceo brian
armstrong was not the entity that filed to get approval to trade futures coinbase inc appears as
not an nfa member but coinbase financial markets inc is a pending nfa member so technically not the
same company it's a different ceo different company although for all intensive purposes
they are both still coinbase according to the nfa website coinbase financial markets ceo so the
different company is joseph nicholson who joined the exchange in 2018 and if you're asking why this
company why this ceo instead of brian armstrong and the coinbase company we know joseph nicholson
has been a registered broker with the financial industry regulatory authority finra for over 20
years according to finra's broker check so he does have the relationship it will probably be easier
to get approval so if they get this regulatory approval this will be just yet another green
flag that cryptocurrency especially crypto in the us is here to stay i'll keep you updated
and next piece of news let's talk about crypto adoption outside of the us crypto adoption in
africa has surged over one thousand two hundred percent in 2021 alone and that's based on the
data according to a review by chain analysis the 1200 increase in incoming cryptocurrency volume
over the year is almost 50 percent higher than the global growth average because the rest of
the world united registers an also mind-blowing 880 increase in that same period and what are the
specific regions well in a direct quote not only has africa's cryptocurrency market grown over 1200
percent by value received in the last year but the region also has some of the highest grassroots
adoption in the world with kenya nigeria south africa and tanzania all ranking in the top 20
of our global crypto adoption index so pretty self-explanatory we can see this mind-blowing
chart illustrating the africa adoption compared to all the other regions right here and what's
even more interesting to me is just even the peer-to-peer transactions just from person
to person exchanging crypto crypto adoption is happening and if you're asking why well
considering that the continent is dominated by the unbanked population the use of p2p platforms has
established itself as an easy way to move funds internally however the report says that almost
96 of crypto transfers in africa are related to the remittance market so in a lot of ways this
is where crypto is needed most people that don't have access to financial stability they've never
had a bank account are finally able to have some self-sovereignty some ownership some financial
security with cryptocurrency and for the people that do have bank accounts in a final direct quote
if the government is strictly limiting the amount of money people can send abroad
they'll get creative and turn to cryptocurrency in many of these frontier markets people can't send
money from their bank accounts to centralized exchanges so they rely on peer-to-peer give me
your thoughts on this african adoption down below i will say that cardano is one of the
altcoins that does have strong that is building a strong foundation of grassroots adoption in
africa as well for perspective year-to-date asset performance the nasdaq is up 19 s p 500 up 21
gold down a negative six percent from the start of the year yet bitcoin ethereum cardano way way
up like you see right here real accumulation is happening and moving forward let's get real
specific on certain altcoins why is avalanche for example pumping the avalanche foundation has just
raised over 230 million dollars to support the defy ecosystem so this was a big win
a lot of money for avalanche and the key is here the smart money that is investing the avalanche
foundation has announced a significant 230 million dollar investment from a venture capitalist
group spearheaded by polychain and three arrows capital for the purpose of supporting the growth
of the defy ecosystem and their ever expanding list of applications that utilize the blockchain
and of course the ever-growing avalanche ecosystem benefits since avalanche's launch in september
2020 its smart contracts platform is now providing infrastructure for over 270 industry projects
including sushi swap chain link circle and the graph among others and what specifically will
this money be used for the 230 million dollars worth of capital raised through the private
sale of avalanches native token will be allocated by the foundation across a multitude of use cases
within its blockchain including grants token purchases and various forms of investments
and technology support in a final direct quote from director of the avalanche foundation
avalanche has quickly turned promise and potential into real world impact and value creation for d5
users and developers the community of builders rallying around the network is a testament to
its competitive edge and there is still so much potential yet to be tapped at the intersection
of institutional and decentralized finance on avalanche so as the avalanche ecosystem develops
i will keep you updated but let's keep moving and before we get to the latest ethereum and litecoin
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altcoindailycc check it out link down below and next piece of major adoption news
amc adds ethereum and litecoin to their year-end crypto adoption plans interesting so it's no
longer just bitcoin they're now going to accept ethereum and litecoin tweeting on thursday the
company's ceo announced plans for amc to accept three other cryptocurrencies ethereum litecoin
and bitcoin cash and it will be interesting to see which cryptocurrencies get the most use for buying
movie tickets because in my opinion amc is not getting my bitcoin this is like amc saying hey
we'll accept gold if you want to pay us in gold in digital gold we'll accept it for movie tickets
sneaky very sneaky amc you might get my litecoin you might get some other alt coins but i'm keeping
my bitcoin i'm keeping my ethereum give me your thoughts give me your mindset on this either
way though pretty cool to see this adoption and next piece of news for ethereum and nft
platform openc openc's product lead is accused of using insider knowledge to profit from nft drops
so here are the details users on twitter accused nate chastain head of product at openc
of using secret eth burner wallets to buy nfts before they were unloaded on the front page of
openc what gave him away was making the mistake of sending the profits to his own public address
here was the first tweet that kind of accused him of this hey openc why does it appear that
your product lead has a few secret wallets that appears to buy your front page drops
before they're listed and then sells them shortly after the front page hype spike for profits and
then tumbles them back to his main wallet with his punk on it so because openc's product lead
owns a crypto punk and he made that public that's how they were able to track his wallet
and open c is looking into this yesterday we learned that one of our employees purchased items
that they knew were set to display on our front page before they appeared there publicly and
now openc is doing an investigation thoughts on this i mean it is a positive openc will not stand
for this they are looking into this in my opinion it's just pretty cool the power of the blockchain
because this happened in traditional markets we wouldn't know for years if ever at the kind of
insider trading that's happening but now this information is democratized and random people
on twitter can form these do the research form these opinions and ask these questions
and final piece of news sky bridge anthony scaramucci's fund has raised 100 million dollars
for an al grand fund as well as files for a crypto company etf this one's pretty self-explanatory
so if you're wondering why algo is bumping it's because sky bridge is raising money to support the
ecosystem but that is the video my name is austin so close so close but like always see you tomorrow