welcome back everybody to altcoin daily my name is aaron right now comment your favorite altcoin in
the comments below we're seeing double digit gains in cryptocurrency some of the higher caps are up
10 15 some of the mid to low caps are up 20 30 40 in the last few days there is plenty of
opportunity in cryptocurrency in today's video i want to go over the hottest news
stories everything you need to know if you're a cryptocurrency investor or you're a cryptocurrency
enthusiast i want to go over the hottest altcoins you need to hear about link you need to hear about
cardano solana ethereum nfts and bitcoin of course smash the like button if you appreciate
us coming at you on the weekend smash the like button it's a small thing you can do
and it truly does help the channel grow with that being said let's get into it grayscale
has just made a sizable purchase of solana and uniswap to make their large cap investment fund
now worth close to half a billion dollars let's talk about why they did this why did they
purchase solana why did they purchase uniswap and which other cryptocurrencies do they hold
cryptocurrency investment house grayscale has added solana and uniswap to the almost
half a billion digital large cap fund in its latest quarterly rebalancing the allocation
marks the first time that the new york-based company has added solana to an investment vehicle
at the end of yesterday this these are the numbers solana made up 3.24 percent of the digital
large cap fund uni another one percent bitcoin dominates the large cap fund making up 62 percent
ethereum is the next largest coin making up 26 cardano chain link litecoin and be cash
make up the rest what do you think of the coins that grayscale holds in a large cap fund do they
all deserve to be here which coins would you add on top of these now the fund bought solana and
uniswap by actually selling off some of the other assets in the fund as you do with a rebalancing
grayscale has decreased its bitcoin allocation by about five percent since the last rebalancing
other holdings changed by small amounts the fund's ada holdings only introduced last quarter
has actually increased from about four percent to about five percent very interesting
so grayscale has actually updated its portfolio to better reflect their views on the state of the
market going forward they're going to rebalance again one quarter from now and they changed their
portfolio based on the way the market changed based on where they think we are in the cycle
based on where they think their money is most well spent the rebalancing emphasizes how solana has
become a favorite of the cryptocurrency market the solana blockchain functions as a high-speed
low-cost competitor to blockchains like ethereum and arrival to cardano polkadot and binance
smart chain the rebalancing also shows how bitcoin dominance has given way to altcoins
in april bitcoin made up about 80 percent bitcoin of the fund the fund allocated just 17
to ethereum now bitcoin's dominance by market cap has fallen from 69 in april to 42
today and this is very common in bull markets i think there's more opportunity in altcoins
however don't get it twisted grayscale's largest product remains its bitcoin trust increased risk
means increased reward and it is a great sign for those coins when grayscale adds them to a trust
grayscale is a way where institutions accredited investors high net worth individuals can invest in
crypto just by buying a ticker so this is bullish for solana uniswap and all the other coins that
grayscale holds let's take a look at the current state of the market because things are looking
bullish bitcoin is the market mover bitcoin is now comfortably above the 21 week estimated
moving average this is what we like to see switching to the month chart bitcoin is breaking
out from its monthly range it is early but this is what we like to see with that being said
let's get into recent news of the day gary vander chalk's hand-drawn v friends doodles sell for 1.26
million do you guys like garyvee some people like them some people hate them well this entrepreneur
turned social media guru made 1.2 million just from doodling on pieces of paper and a napkin
and alliterating animals in brief garyvee's nft collection actually outsold that of andy warhol
and jackson pollock an auction took place at the famous christie's in new york on october 1st
2021 it obviously wasn't all of the v friends but just the ones that were at this auction the doodle
took vanderchuck just minutes to draw so it is impressive what gary vee has done
with doodling on a napkin garyvee is the michael jordan of doodling on napkins and
alliterating animals in my opinion because he raised the bar and changed the game and brought
all this money and attention into the space just like michael jordan it's easy to goof on garyvee
but this is impressive and obviously it's more than just doodles right the real story here is
why are the nfts worth so much it's because gary v and his community is worth so much he's really
people who buy garyvee's nfts he's doing a lot for them within the community giving them all sorts of
perks and he's really like leading this charge for community driven nft so it's interesting to see
it come this far i actually met somebody with a few v friends out of the bar the other night
uh it was pretty cool him showing me his nft collection anyways in other news defy
community blasts compound ceo for doxed comments did you hear about this compound founder robert
leschner is actually facing backlash from the defy community after posting a bone-headed tweet
so if you're unfamiliar with compound it was one of the original d5 protocols that really
started off the d5 craze it's a way for you to lend out your crypto currencies and earn
interest and apparently they paid out way too much interest recently leading the ceo to tweet this
if you received a large incorrect amount of comp from the compound protocol error please
return funds immediately to this address just this would have been fine however he finished
it by saying otherwise it's being reported as income to the irs and most of you will be doxxed
uh rather bone-headed tweet because this is not the spirit of d5 this is you know it really just
made compound users salty how much do you value the users how decentralized is this even anyways
he tweeted out later saying i'm trying to do anything i can to help the community get
some of its comp back and this was a boneheaded tweet slash approach that's on me luckily the
community is much bigger and smarter than just me i appreciate your ridicule and support anyway
comp is still one of the blue chips however you know this is the state of many d5 protocols today
you know trials and tribulations still early on in these projects and i think comp is going to
be just fine let me know what you think in the comments below in other news the sec has pushed
deadlines on four bitcoin etf applications to late 2021. the sec keeps pushing this off
it will happen eventually and when this does happen this is going to usher in the floodgates
in that many people will feel way more comfortable buying bitcoin because of this overall this is a
great thing it won't happen overnight but this will happen eventually especially when we're
seeing the state of the bitcoin network doing so well in recent news covered by cnbc this is pretty
cool el salvador has just started mining bitcoin using energy from volcanoes very cool very cool so
this is you know volcanoes produce all this energy they're using the energy in a sustainable way and
this is actually their current account balance on bitcoin that they're mining from volcano energy
they at the time of the tweet have about 300 worth of bitcoin the president said we're still testing
and installing but this is officially the first bitcoin mining from the volcano node in other news
we mentioned this the other day i think it's worth repeating chain link cardano through a strategic
collaboration between chain link labs and input output hong kong chain link price feeds are being
natively integrated onto the cardano blockchain to enable cardano developers to build a variety
of d5 applications powered by secure oracles this is a win for cardano this is one for chain link
and it speaks to the fact that chain link is compatible with many many blockchains not
just in the ethereum ecosystem and you know that's pretty good for chain link holders i
i liked i love looking at on-chain analytics for different coins let's take a look at
dune analytics and their chain link dashboard take a look daily wallets with one chain link since the
token launch has only been increasing this is what we like to see wallets with one chain link
about half a million wallets with 1k links it's about 20 000 wallets with 10 plus links quarter
million and basically you can see the data right here if you're not looking at information like
this and you're a long-term investor you need to start there's plenty of great sources like
dune analytics there's missouri there's plenty of other ones and chain link is looking good
ethereum is looking good getting close to half a million individual eats burnt now burning
at a rate about five eighths per minute nfts decentralized exchanges stable coins play to
earn games all this stuff is great for ethereum in fact the amount of eth burnt since eip 1559
which happened just two months ago the amount of eth burnt since the launch of this would be at
about 85 by market cap rank if it was a coin itself and this will only keep going this is
bullish for ethereum you can i hope you understand this and culturally i mean ethereum crypto bitcoin
is breaking through in such a big way snoop doggy dog i keep a blue flag hanging out my backside
[ __ ] toe punks and he has a crypto punk with a blue flag obviously because he was part of
the crips really cool to see nfts ethereum bitcoin crypto in general breaking through
to the main stream that being said which coins are you looking at which coins are you holding
until at least the end of the year which coins do you think are undervalued in the space today
is it link is it solana or is it something maybe farther down the list is it a raven
coin is it a urine is it a flow if we go over to page five high risk high reward is it a just
a teller a beefy finance a wearable let me know in the comments below subscribe to the channel
appreciate you staying with us on the weekend here it's turning into a great year changed my mind