welcome back everybody to altcoin daily there has been a shakeup in cryptocurrency exchange
dominance in today's video i want to update you on your favorite cryptocurrency coins the top
exchanges in the crypto space today including crypto exchanges that have gone down in market
share and volume cryptocurrency exchanges that have gone up in market share and volume
cryptocurrency exchanges with the best fees the most popular ones and the least popular ones
if you appreciate the daily cryptocurrency content smash the like button and let's
jump into it and again i want to remind you subscribe to the channel we drop one video
every day keeping you informed so let's jump right in the two biggest cryptocurrency exchanges which
are sinking ships for the month of may and june losing market share cutting staff losing usership
are gemini and coinbase gemini cutting staff by 10 blaming crypto winter the us-based crypto exchange
cited the crypto industry's sustained downturn and macroeconomic turmoil as the reason for reducing
its staff coinbase freezing hires and actually rescinding already accepted job offers that they
offered they took them back the cryptocurrency crash and fears of a crypto winter have prompted
coinbase to get even more aggressive in cutting costs and of course the reason this is happening
is because coinbase app downloads have dropped by 55 percent in 2022. gemini users
all cryptocurrency exchanges are seeing a dip in usership compared to the peaks of 2021. currently
the best cryptocurrency exchanges decided by the market so the cryptocurrency exchanges with top
market share finance number one with 64 ftx at 10 flipping coinbase ftx used to be below coinbase
now ftx at 10 coinbase at nine percent kraken three percent bitfinex two percent lmax digital
two percent gemini not even making the list so ftx has flipped coinbase here on market share
ftx also overtaking coinbase in bitcoin volume for the first time ever cryptocurrency exchange
coinbase processed a record number of transactions in may however it still fell behind ftx in terms
of trading volume so people are opting out of coinbase choosing other cryptocurrency exchanges
of course you know that ftx is a sponsor of our channel you can trade on ftx with zero fees and
get up to 100 in crypto with altcoin daily use altcoin daily when you sign up or scan this qr
code ftxus has fees up to 85 percent cheaper than competitors and is trusted by millions of users
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zero fees get up to a hundred dollars if you use our altcoin daily reference code ftx is
gaining market share and gaining volume for a reason and ftx is number one in my opinion
coinbase is okay coinbase is gonna make it through this and finance is number two in my opinion
especially with some of the outside stuff they're doing finance and the weekend launch a crypto
power world tour besides like kanye west or ariana grande i mean i think the weeknd is one of the
best largest artists in the world right now and he's launching a crypto nft powered world tour
with binance backing it the weekend will launch various nft collections as binance comes aboard
the after hours till dawn concert tour so let me know your favorite exchanges in the comments
below let me know what you like about certain ones let me know what you dislike about certain ones
and i do want to end this by saying smart companies the smartest thing to do in a crypto
bear market isn't necessarily to fire 10 percent of the staff that would be the last thing you
want to do fidelity seems to be doing it right fidelity digital assets is doubling its staff
adding 110 tech jobs mostly to aid in ethereum services and quote the reason that they're hiring
in a crypto bear market we're trying not to focus on the downturns and focus on some of
the long-term indicators referring to the growing demand for crypto exposure from its clients we
are trying to build infrastructure for the future because we measure success over years and decades
not weeks and months i love this we're at the precipice of an explosion of usership on ethereum
l2s l2s for ethereum are the future this is a chart that's aggregating ethereum gas fees spent
to settle l2 activity on eth it's aggregating all the top ones arbitrage boba immutable loop
ring optimism polygon stark net zk swap zk sync and yesterday marked the highest amount of gas
ever used to settle ethereum main net to settle l2 transactions almost 4 billion of the 100 billion
daily gas limit was used to settle l2 transactions are almost 4 what is one
major takeaway of this trend i've said it before that's that ethereum is transitioning from a b2c
business to customer user to chain business model to a b2b business to business chain to chain model
it will happen slowly and then all of a sudden majority of the eth gas will be used by l2 chains
different crypto protocols will use ethereum as the base layer to settle and users will be on l2
and maybe even l3 one day and l2s continue just to trend parabolic as people opt into them optimisms
june monthly uniswap volume is already as high as may and we're only a few days in to june people
are using optimism people are using alternative layer ones avalanche doing great the price is
dipping but on chain metrics are trending up take a look at these four charts native stablecoin
native usdc at an all-time high of about 1.5 billion up 67 percent since april 1st monthly
transactions all-time high about 32 million in may unique contracts deployed over a hundred and sixty
six thousand up eighty-one percent since march first and then finally total value locked over
300 million avax at an all-time high up 83 percent since april first solana maybe doesn't have the
same bullish metrics that avex has at the moment and also solana seems to be getting shut off and
paused more and more in the past couple weeks still solana i think eventually will be okay
it has great backing great partnerships with coinbase open c so much and behind the scenes
they continue to build i mean that's why they take it offline they're trying to fix things
and hopefully it's going to come back stronger than ever the time to really do this is bear
markets anyway the news is this solana has also integrated chain link price oracles on the mainnet
this is a big win for chain link this is a big win for solana the key takeaways are as follows
solana has integrated chain link's decentralized price feed on its main net the integration
will allow solana devs to leverage reliable near real-time price feeds from chainlink's
decentralized oracles to build superior defy apps developers will initially be able to access only
seven different price feeds however hundreds more to come in the coming months thanks to chain link
and to really understand the power of chain link here and understand why this is such a big win for
chain link solana is chain link's first native integration on a non-evm chain a non-ethereum
virtual machine compatible chain and this wasn't just a redeployment of existing code it involved
rewriting significant chunks of code including both on-chain and off-chain infra the point is
chain link did this with zero compromises and that's why it's such a big deal another chain
link win another matic polygon win chain link's vrf verified random function version 2 is now
live on polygon and then finally my friends i understand that the market's going down right
now i understand we're in a lull right now but do not think for a second that people all over the
world are having to reckon with cryptocurrency in whatever way they have to reckon with it
regulators whoever in this case japan passes legal framework for stable coins there's some
good there's some bad just like anything overall regulations like this are great because it means
game on it means they're not going to ban it they're going to clarify things so big players
can start using it the new legislation which comes into effect 2023 defines stable coins as
digital money that's great however it restricts issuance to licensed financial institutions
maybe not as good maybe safer you tell me it is really good as well that stable coin one dollar
legally have to be redeemed for fiat one dollar at japan banks in 2023 let me know
your thoughts to everything we went over today in the comments below
smash the like if you appreciate these daily videos hope you have a fantastic weekend