all right welcome back everybody to altcoin daily where you subscribe for daily videos on
everything going on in cryptocurrency news opinion perspective that's what we do
smash the like button and let's talk about the huge news that is happening in the space today
start off with the solana news then i want to present you with a project that i think could flip
solana in the midterm and then we'll talk about the huge nft news that's happening in this space
so first off with solana this happened late in the day yesterday solana suffers a dip following one
of the biggest ethereum hacks in history it was a bridge between the solana network and the ethereum
network was called wormhole 322 million ethereum was stolen and hacked in the wormhole attack hack
solana dipped 13.5 percent following last night's attack on the wormhole bridge now these headlines
are scary it's important to note that no user had their money stolen this was money stolen
from the bridge itself it will all be replenished the hack was patched the problem was patched
and more than that i mean this is what happens as we go from no users and nothing built to millions
of users and everything built and it's better this stuff happens never good when this happens
but it's better when this stuff happens early on rather than this being globally adopted
and this happening so it's just part of the trials and tribulations and risks of
cryptocurrency i still hold solana i still like solana i'm still bullish on the solana ecosystem
but let's talk about a project i think has the potential to flip solana whether it's in the short
term midterm or long term we've talked about this project plenty of times on this channel before
when it was a lot less than what it is today and i think it has a strong potential future
i'm talking about avalanche of course but before that i want to invite you to hang out with us at
bitcoinmiami 2022 conference i'm going to leave a link sign up below hurry up spots are going fast
use altcoin daily 10 off to attend this conference this is the biggest bitcoin conference
of the year of ever it'd be so awesome if we saw you in miami if you go to miami
tons of people from cryptocurrency are going to be there but maybe we'll see each other
and of course use altcoin daily for 10 off take advantage of the discount
obviously ethereum is the leader for layer one open source dap platforms but did you realize this
daily transactions of ethereum and avax the difference here is now just three percent
or 33 000 transactions avax is looking like it's about to flip ethereum in transactions which is
a pretty big deal pretty big metric the number of transactions on avalanche is growing steadily with
recent days being close to ethereum's total number of transactions 97.1 percent is the all-time high
ratio the avalanche ecosystem is eyeing 100 percent and beyond and speaking of the avax
ecosystem it's one of the biggest in the space huge d5 sector bringing tons of people over from
ethereum's d5 sector doing them both big nft and gaming sector we have tooling dapps privacy wallet
avax certainly one to watch speaking of the comparison between avax and ethereum you're
familiar that ethereum has a burning mechanism the more that the ethereum network is used the more
east gets burnt the better for ethereum holders better for the tokenomics and the ecosystem well
it's worked out so well avax is basically not directly copying it but doing their own version
where they have their own burning mechanism as well so supply is reduced in avax as avax is burnt
from transaction fees creation of assets creation of blockchains creation of subnets bull case for
avalanche is that it has a fixed capped supply like bitcoin not as decentralized as bitcoin but
its tokenomics are similar in that it's fixed and capped unlike ethereum which is not capped
also in avax transaction fees subnets and asset creation fees are burnt subnets have to validate
the primary network and stake avax taking supply off the market liquidity staking is coming where
you can earn additional yield expect to see many airdrops to avac stakers with the launch
of the subnet and this is how you can track how much avax is burnt as the network gets used more
over 700 000 avecs have been burnt to date all transaction fees on avalanche are burnt and
removed from circulation benefiting the entire community so this is why i want you to put avax
on your radar today as a possible 2022 gem i think we're going to see avax's momentum continue
let me know what you think in the comments below let's talk about recent news
cameo launches ethereum nft pass with expanded celebrity access the app which lets users buy
personalized messages from celebrities will offer exclusive events benefits and merch
to nft holders i happen to be a big fan of cameo especially with the niche celebrities like hard
rock nick hopefully with this nft integration we'll be seeing more quality cameos like this okay
i can't take this anymore every day i'm checking price and it's rising every day
check price good price i have under invested by a lot it is what it is but i sleep comfy
knowing devs are hard at work where are you making it we all are it's crazy how big nfts are getting
open c the most popular secondary market for nft sales the most popular has monthly volumes
topping 5 billion as nfts continue to go mainstream nintendo has just put themselves
on record saying we're going to get into nfts we are going to get into the metaverse
but they want to make it clear although they're considering and researching ways to utilize nfts
they do not want to diminish joy the developers of super mario and pokemon franchise cares more about
providing a good experience for its players than winning an nft council race i love that but at
the same time especially for pokemon i think nfts and play to earn dynamics or mario with its coins
it's a perfect way to integrate play to earn and metaverse and nfts
in other news coinbase partnering up with turbo tax offering tax refunds in bitcoin want your
tax refund in bitcoin that's now an option pretty cool to see the legacy financial system
integrating and partnering with the new cool hotness crypto ecosystem in other nft news
disney is on the lookout for nft experts a number of postings on disney's career website indicate
that the entertainment giant is looking for fresh talent to work on nfts i mean honestly it could
be any of us right any of us are probably way bigger nft experts than a half of the people not
even in nfts of course i mean that goes without saying it's just so cool to see disney doing this
of course a good way to get disney ip nfts at the moment is through vivi and omi in other
nft news gamestop is partnering and integrating and building a fund with immutablex eth scaling
solution imacs imx immutable x and they're plotting an ethereum gaming nft marketplace and
they have a 100 million dollar fund huge for each scaling solution immutable x huge for gamestop
huge for nfts and you know we've been seeing a lot of hate coming from the legacy gaming community
and ubisoft has gone on record saying they're doing nft stuff and maybe they're walking it
back well this is a big push into the forward direction gaming giant ubisoft is diving even
further into crypto now exploring the hedera network ubisoft keeps enlisting crypto allies
as it now turns to the hbar foundation and explores the hedera ecosystem so let me know
what you think in the comments section below regarding nfts do you own any are you bullish
are you waiting the market's getting pretty hot right now it could continue for months it could
continue for weeks for years for hours nobody knows it's so exciting to be in cryptocurrency
at this time let me know your thoughts in the comment section below see you tomorrow