welcome back everybody to altcoin daily my name is aaron the reason why you subscribe to this channel
and by the way let me know if you are a 900 000 subscriber but if you're interested in making
money in cryptocurrency make sure you subscribe to the channel right now we drop a video every day
keeping you informed on the crypto market on a daily basis august is going to be an
interesting month for cryptocurrency as long as bitcoin and ethereum continue to show strength
i think august is going to be explosive and actually a lot has changed you know for the
past few weeks many people in cryptocurrency have been thinking that we're right here
that we're in a bull trap that fear capitulation despair is what's to come in my opinion it's more
likely that we're right here in a bear trap where media attention enthusiasm greed delusion new
paradigm euphoria is what's to come so ultimately when you make your own decisions you'll have to
decide do you think we're right here or do you think we're right here see i actually think that
the best part of the bull market is still ahead of us as in the biggest gains are still ahead of us
because the fact we're in a maturing bull market and bitcoin and ethereum are showing incredible
strength let me tell you what i'm talking about here the bitcoin death cross occurred
late june 2021 so over a month ago bitcoin had a death cross which means that the price
typically this means the price ain't going up anytime soon which it didn't however since then
bitcoin has enjoyed such a recovery that the two death cross emas have began to flick upwards
if bitcoin continues to hold these highs or even rally higher then a new golden cross
could occur in one month's time if you know what a golden cross is you know that in any asset class
that is incredibly bullish and again bitcoin is showing strength in many different ways
bitcoin supply held on exchanges reaches its lowest level in almost eight months
people are taking bitcoin off of exchanges this is adoption and that means that bitcoin
is going through a supply crunch you love to see it you love to see the supply getting low
dropping like this well the price has nowhere to go but up given enough time to go even further
there is still so much capital on the sidelines sitting in stable coins because of the bitcoin
stable coin supply ratio we know this this capital is just now starting to flow back in to the market
this signature resembles all previous major price recoveries since stable coins were introduced in
the beginning so understand what we're looking at right here the bitcoin stable coin supply ratio
where we are right now in the past couple of months very similar to the 2018 bear market bottom
very similar to the covid crash recovery bottom very similar to the dip we saw right before the
huge rally september 2020 so on chain things are looking bullish this current wave of bitcoin
supply shock has a lot of momentum behind it think of this as a visual for the underlying wave
of supply shock or lack thereof in the market the last time we went from full reset to buy signal
was september of 2020 although this current move is actually much more aggressive so september of
2020 was right before the huge run-up very similar right now today except it's more aggressive and to
finish off about the strength of bitcoin keep in mind that although bitcoin is very strong in
my opinion you know we're going to be in a chop solidation mode until a certain point until the
rally so we've seen seven straight daily green candles bitcoin could very well consolidate in
the upper half of this range for a while maybe between thirty six thousand to forty thousand
whenever bitcoin does close above forty thousand this thing is going to run tl dr the bitcoin
price cannot be suppressed for long and anybody who attempts to short it will find themselves
wrecked bitcoin continues to do what it does best that is produce blocks every 10 minutes while
remaining the only true free market money for the world today so i'm bullish on bitcoin for totally
different reasons i'm bullish on ethereum however they're both going through supply crunches the
supply of ethereum on exchanges has dropped from 30 million to 20 million in the past year alone
this is what i like to see this is bullish beyond that ethereum from a upgrade point
of view a development point of view a fundamental point of view is very bullish ethereum breaks 200
000 validator milestone and over 14 billion is now staked in eth 2.0 this is ethereum's
bull run to lose in my opinion because when we see the biggest brands in the world like coca-cola
using ethereum to make nfts i mean this is huge coca-cola brings first nfts to ethereum metaverse
let's find out some details coca-cola will issue its first nft collectibles to
commemorate international friendship day july 30th that's coming up this is inspired by video game
loot boxes the nft pack will include a friendship box packed with four one of one nft collectibles
plus more surprises only to be revealed when the box is opened coca-cola will donate all proceeds
from the open sea auction to the special olympics the fact that they're using open c when they could
have done this anywhere the fact that they're using ethereum when they could have chose anything
is very bullish for ethereum i i think you understand this so with the strength of
ethereum with the strength of bitcoin let's get into some alt coins that i'm bullish on
uniswap growth pushes defy to three million total users as the number of defy users hit three
million a breakdown of the sector's surge reveals that decentralized exchanges have been the key
driver so i have some metrics that i need to share with you this is defy's total usership going
up and to the right getting bigger and bigger each day and when you break this down as far as
users in d5 there have been four key protocols driving this growth as far as users go uniswap
compound one inch and sushi swap have the most users for the uninitiated compound is a popular
lending and borrowing service for crypto one inch is an aggregator of various crypto protocols
including sushi swap including unit swap used to offer traders the best rates and then sushi swap
is a near identical fork to uni-swap so those four have the most users still uniswap clearly
leads the pack hosting more than 80 percent of all d5 users look at this this speaks volumes and
speaking of volume in terms of 24 hour volume uniswap decentralized exchange is on par with
centralized competitors in ftx and kraken at the time of press in august of last year uniswap even
outpaced one of the leading exchanges coinbase pro for the same metric so bullish on uniswap
bullish on elrond bullish on eagle these guys are building hardcore and i think that's really going
to pay off and they have some big things coming up it is their meijer decentralized exchange with the
popularity of decentralized exchange with elrond getting into the same thing i happen to be bullish
the latest version has just been released on the devnet once live their decks will be the biggest
launch in the elrond ecosystem since the release of meijer which is their wallet and payment system
so if the meijer decentralized exchange works as expected it will set motion a new set of economic
forces within the lrand ecosystem will water the forces a it will feel like a new staking force
begins to attract significant liquidity and lock more of the circulating supply
b will create a new token for the ecosystem and community opening a new opportunity to be part
of the meyer decentralized exchange ecosystem and its governance c will attract more liquidity
from other ecosystems d it will significantly accelerate the startup iteration cycles within
the elrond ecosystem providing immediate liquidity for new projects and plenty of opportunity
for community members the fact is we're already halfway through 2021 and elrond's progress is
remarkable six hundred and eighty thousand addresses four hundred fifty thousand meyer users
60.3 percent staked and tools ready this year is about elrond meyer decentralized exchange nfts and
launch pads but to make them meaningful and lasting it's important to put a lot of effort
and care into building them at the end of the day the goal with elrond is to build a high bandwidth
low latency transparent financial system and give anyone anywhere easy access to it and the meijer
decentralized exchange is a critical part of that this is why we're here this is why we're pushing
so hard so elrond makes our list for august let me know in the comments if you like elrond
let me know in the comments if you're bullish on chain link like it or not chain link is a leader
in the space that it is carving out for itself in cryptocurrency chain link integrations are growing
rapidly 2017 there were just two in 2018 there were only 21 and honestly in 2018 i was kind of
bearish on chain link in 2019 we had 104 in 2020 with 239 in 2021 we have 306 and this is just you
know q1 and q2 so far this is how many so chain links ecosystem grows at leaps and bounds if we
can announce another 328 in the next two quarters this year we will enter the magic meme level of
1000 plus take a look at this right here this is their rapid growth and actually to be more precise
this is you know a more precise version of their rapid growth so chain link makes our list
today last but certainly not least cardano cardano must break crucial resistance to head
to two dollars so cardano can get to two dollars cordon remains stagnant despite breaking out of a
descending triangle so the fact is this breakout right here this is more bullish than bearish
the 1.33 resistance level has proved to be a significant level of resistance for ada on a daily
candlestick close above this barrier we could see prices rise to a dollar 91 but volume has been low
again you know in order for cardano to get to that next level to get to two dollars we
need to see strength in ethereum for sure and probably bitcoin and ethereum together
anyway cardano makes our list today because they have plenty of upgrades coming out in the next
month or two let me know which coins that you're bullish on in the month of august below if you're
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