welcome back everybody to altcoin daily
you subscribe for daily videos on everything going on in cryptocurrency news opinion perspective
big video today including big news out of starbucks getting into web 3. i want to talk about
instagram expanding it's nft adoption 100 plus countries now adding new chains every day
we're going to be talking about a lot of different alt coins in today's video cardano polka dot
check the timestamps below we'll start with bitcoin then ethereum then get into it smash
the like button let's talk about bitcoin on exchanges bitcoin balance on exchanges keeps
dropping make no mistake about it this is a bullish metric people are taking their bitcoin
getting it off exchanges which means they don't intend to sell it anytime soon it would not
surprise me if going forward even in the short term what happens with bitcoin and crypto is
unlike any other cycle that we've ever seen before it would not surprise me if bitcoin and crypto has
passed a certain threshold that we didn't get to in bitcoin's first 11 12 years we're at today and
it could be very bullish in the future that is definitely a possibility however it's important to
be realistic right it's important to recognize how long new bull markets have taken in the past so
this is something you need to understand bitcoin tends to rally exponentially after the having
next having is in the middle of 2024 in april my task is to accumulate bitcoin as best i can in
preparation for that rally this having principle underpins my investing thesis and informs my
dollar cost averaging at these prices speaking about bitcoin's bottom in relation to bitcoins
having in 2015 bitcoin bottomed 547 days before the having in 2018 bitcoin bottomed 517 days
before the having discount the march 2020 crash kind of a black swan if bitcoin is going to
bottom 517 to 547 days before the upcoming april 2024 having then the bottom will occur in q4
this year that's a possibility bitcoin might have yet to bottom i think it will for sure come
in the next six months probably by q4 of this year if it hasn't happened already like i said
where we are today in crypto is unlike bitcoin and crypto's first 11 12 years so would not
surprise me if this metric was disrupted however this is a realistic possibility for the future
let me know what you think in the comments below let's move on to ethereum and altcoins
now ethereum is actually doing pretty well in this bear market maybe it's because of the merge maybe
it's because ethereum is on a different level than it ever has been ethereum is showing signs
of building a new range on higher time frames the longer ethereum consolidates inside this range the
longer money flow into altcoin will continue so eth doing well makes altcoins doing well i
think ethereum will continue to do well going into the merge and even beyond that because ethereum's
ecosystem just keeps getting bigger and better let's focus on ethereum layer 2 scaling solutions
big metrics for optimism and then we'll talk about all of the big ones total value locked
on the optimism l2 just crossed 1 billion op is crushing it right now in the last seven days alone
total value locked is up 36 percent 60 000 new unique addresses up 10 and optimism is up 170
in the last two weeks the token let's dive into a few of these metrics first total value locked
from 41 million to 1 billion since july 2021 take a look at the same chart broken up by individual
projects individual tokens synthetics is a huge leader in op total value locked
even beating ethereum usdc synthetics ethereum usdt dye and wrapped bitcoin all making up ops
1 billion total value locked next up usage in the last 30 days optimism has 147 000 unique addresses
earned 335 ethereum in transaction fees and saved users 282 000 eth in gas costs i will repeat
optimism charged users 335 eth in fees and saved users 287 382 eth in l1 gas fees good product
optimism transactions per day are at all-time highs and is currently saving users an average
of 20 000 ethereum and gas costs per day l2 gas consumption up only optimism apps by transaction
fees per day and addresses per day these are the top crypto protocols who have moved over to
optimism perpetual protocol uniswap synthetics you can see some of our favorites right here and some
maybe you haven't heard of some of these this makes me bullish for the future of layer two on
ethereum and speaking of the big four layer twos on ethereum so polygon is not part of this it's
more of a side chain it is a scaling solution but speaking of the layer twos on ethereum arbitrum
optimism zk sink and starkware are the top four optimism still has a long way to go to
catch up to arbitrom in tvl but has made a big leap forward in the last seven days
and the op holder base the people holding the op tokens is looking like some diamond handers very
little churn since the initial airdrop claim so i'm bullish on ethereum i'm bullish on ethereum l2
and these scaling solutions could not come at a better time in crypto's 13-year history let's
go over some recent news instagram ads flow blockchain nfts flow token pumps 44
instagram is expanding its nft initiative internally to more than 100 countries
parent company meta announced today plus it added support for nfts created on flow blockchain
now the flow token is pumping as a result so to go over this instagram has ethereum nfts
polygon nfts flow nfts and soon to be solana nfts the future is multi-chain the future is web3
starbucks teases web 3 updates to its popular rewards program the global coffee company looks
to digital collectibles and to better engage customers web 3 will play a part in the future
of starbucks popular reward program starbucks ceo howard schultz said quote we've been working on
a very exciting new digital initiative that builds on our existing industry leading digital platform
in innovative ways all centered around coffee and most importantly loyalty according to schultz the
company will unveil the new digital initiative on september 13th during its annual investors
day event in seattle so obviously starbucks is app extremely popular people are already
being digital in starbucks web3 nfts whatever it is natural integration and the demand is there
ens so dot eth domain names the registrations for dot eth domain names skyrocketed
last month despite the bear market total names created nears 2 million this is what the monthly
registration number chart looks like there was a drop-off in the bear market but surprisingly
last month it made a new all-time high pretty cool let's talk about polka dot and cardano
polka dot news alchemy partners with astar network to accelerate web 3 development on
polka dot the partnership will leverage the most widely used web3 api alchemy supernode to provide
better monitoring and analytics what you need to know is this blockchain developer platform
alchemy and innovation hub astar network have partnered to supercharge polka dot development
the move will make it easier for developers to create dapps on astar network polkadot's leading
parrot chain and unleash a wave of web3 creativity as a result of the partnership developers can use
alchemy's powerful apis to create sophisticated apps that leverage features previously unavailable
to polka dot polka dot's still very much in this game and this is exactly what you want to see
bull market bear market doesn't matter this is what you actually want to look for one of a few
things you should be looking for right cardano cardano based smart contracts surpassed the 300
mark for the first time this is something you need to look for and certainly everything we went over
with op that's stuff you need to look for too the cardano network has a significant update in
september 2021 which includes the incorporation of smart contract functionality making the blockchain
capable of faster scalability and performance with the latest vassal hard fork on the horizon plutus
scripps a cardano based smart contract platform has hit over 300 000 smart contracts up and to
the right cardano still very much in the game now in the i think it's going to be on sunday
in the next two to three days we're going to be releasing an interview with mark cuban we asked
him about all of this look forward to that he had some interesting things to say about cardano
final piece of news uniswap dao considers creating uniswap foundation the uniswap foundation would
provide yet another entity focused on growing the protocol key takeaways a proposal was submitted
today in the uniswap governance forum for the creation of an independent uniswap foundation
the foundation would task itself with supporting protocol growth reinvigorating the protocol's
governance process and advocating for uniswap the budget requested in the proposal is 74 million
for a three year runway plus 2.5 million uni tokens for governance pretty cool let me know what
you think about all of this in the comments below don't leave don't leave check out this picture of
us having fun look forward to this in the next few days i will see you tomorrow my friends