We could have had something special!
You ruined it.
By your greed.
Top zero-knowledge (ZK) coins by market cap
We go to categories,
you'll see zero-knowledge (ZK).
Polygon
ImmutableX
Now, ImmutableX just had a fantastic week.
- Look at that. 33%. - Wow.
MINA
Or "MINA"
This is one that I have shared that, you know.
I was actually two weeks ago was saying, you know, maybe check out MINA.
We heard from a big Bitcoin whale
that this is a favorite coin of some of the big money.
So this is one I've been looking at.
We looked at 180 days.
So go to the max though.
You know, starting to look like most of those other charts.
I think I said jump in,
I said two weeks ago,
so, hey!
- Hey, I did pretty good two weeks ago. Yeah. - You called the bottom, Deezy.
I mean, I feel it's more like just price action of the entire market.
But, hey, we got lucky with that one.
Optimism here. Alright.
So CoinGecko, looking at Optimism.
So, Deezy, what would you rate this niche of ZK-rollups just by the projects?
I rate it higher than normal.
So it's above a five.
It's not a 10.
It has a lot of the good branding,
where it's like cheaper, faster, more secure.
- So that's going to get people excited. - Yeah.
But then it goes into--
it's just kind of a complicated thing to say.
It's a ZK-rollup,
and it sounds like, "What are we talking about? Fruit Roll-ups?"
- "I really don't know what you're talking about." - Yeah.
Whereas, like, immutable ledger kind of, you know, maybe it's easier to picture that
than it is a ZK-rollup.
- Like, picture a ZK-rollup. - Yeah.
- What do I got, you know? - Yeah.
Picture an immutable ledger.
I kind of picture this thing that, like, goes into infinity into the sky
and just going to keep having Bitcoin transactions.
Like, I can create a powerful image in my brain.
It's going to be harder to create powerful images.
And weirdly enough,
I know it's a technology,
people need the visualization here to kind of wrap their head around it.
So I'm bullish the nerds will like it.
Crypto users bridge millions to zkSync blockchain in hopes of token airdrop.
Over $8 million has been bridged to the network in the past week alone
in anticipation of free money,
even though it hasn't been confirmed.
- ZKs-- - That like free real estate?
- Say what? - That like free real estate?
Yeah, pretty much.
- Pretty much, it's like-- - Yeah.
are you talking about where they, like, put sand into a body of water like Dubai?
- Yeah. - Something like that, you know?
It's free real estate.
It didn't exist before.
Now, it does.
Strategies from Crypto Twitter participants for a chance to claim the tokens,
if and when they are issued,
include bridging to zkSync, providing liquidity on DEXs
and conducting a few trades every week.
I'm sorry, I saw ZigZag,
and I was thinking of the 0.5 rolling papers.
- Data from Nansen shows that - I knew it!
nearly $8 million worth of tokens have flowed to the network in the past week.
Shout out. Let me know what was your Zig-Zag size.
I like the 1.5s.
Elsewhere, DefiLlama data shows
TVL metric on the zkSync-based decentralized exchange ZigZag
has ballooned to over $13 million on Tuesday from last week's $1.5 million.
So we're seeing a nice little pump there.
About an 8X in total value locked.
All of these flows are zigzagging to ZigZag were in Tether (USDT) stablecoins.
Nansen analyst Martin Lee explained in a note to CoinDesk,
"The confirmation of the Arbitrum airdrop also means that farming activity
will shift away from Arbitrum and towards other chains."
Yeah, I think we're going to see that.
You're going to have people, "Alright. I did the ARB stuff.
What's the next hot thing?"
- "What's the next hot L1? L2?" - Yeah.
"Give me something here."
And so people are going to jump over.
And they're going to try to essentially get that free money.
"Any thoughts on the OP token unlock what normally would push the price down,
saw Ben's video and people in the comments are already crapping over that he--"
no, no, we--
OP is just a huge gigantic undertaking in the crypto ecosystem,
so, yeah, it is going to push the price down, but this is a long-term hold.
I think any OP purchases today,
you're going to be pretty happy in 2025.
"At the next bull run top, I want to sell all.
Should I convert all crypto to Bitcoin and then convert to off-ramp?
Figure that's easier than each token off-ramp."
What I do, I use Coinbase and then I sell on Coinbase
and then I move that into PayPal.
I never go from Coinbase to my bank.
I just never do it.
I know people lost their bank accounts from doing that.
So I go Coinbase to PayPal, which is free,
and then PayPal to your bank account, which is free 1-3 business days,
or you could do it instantly and it's a $25 maximum fee for PayPal.
So that is what I do.
But, you know, to each their own.
You know, we all have different fiat on-ramps/off-ramps here.
This is a--
this is going to be a section where we kind of say,
"Hey, look. You use these things, you use these tools,
and you're going to definitely level up your crypto knowledge."
Right now, we're looking at DefiLlama's total value locked.
Total value locked won't show Cardano because it's custodial staking.
They don't really count it total value locked
because you can move around with it.
But here is a good, you know, tool to use to see what things are on the come up,
what things are, you know, maybe declining.
And I like this, like, 10 to 20 range, 10 to 30 range.
You start going down here, it can be gained a little bit pretty easily.
You just have one whale just make it look like it's really good.
But you start going up here,
you can see, you can track it, and just know where is the money going,
where's smart money going.
So a really good tool there.
Also, we have Coin Perspective.
This is for the moon math idiots.
I'm kind of kidding.
But when you want to lie to yourself,
and you want to say,
"What if my favorite coin had Bitcoin's market cap? Just what if. Just what if,"
and then you kind of do the moon math,
and you're like, "Oh, my God, I have $27 million. That's weird. I only had $2,000 worth of crypto."
You lie to yourself and you do some moon math,
this is a great tool.
But it doesn't just have to be Bitcoin.
It can be, you know, you could do more realistic targets.
So I kind of joke when I say it's like the idiot's moon math.
It is though. It's like if you want to feel like a rich idiot,
do please use it.
But if you're more realistic, like, "Okay, I'm really into this L2.
And I think it can hit Polygon's market cap today maybe during the bull run,"
then it'd be a good tool.
You could punch in the numbers and be like,
"Oh, if ImmutableX hits this level, this is what is going to be per coin."
So it's a really good tool.
Like, if you have some exit targets, you can maybe use it.
CBDC ban proposed by Florida Governor Ron DeSantis in the new bill.
He's saying this would protect residents from national or global central bank digital currencies.
He's called upon like-minded governors to combat "surveillance and control" from the Feds
and adopt similar legislation under its commercial codes.
If passed, the law would also protect the residents
from a global digital currency issued by a foreign central bank.
He emphasized that Florida will not support the erosion of financial freedom.
And the US Federal Reserve recently announced that its FedNow payments system
would launch in July 2023.
So it seems to be in direct response to the US Fed saying a broader rollout is happening in July.
Fed Vice Chair Lael Brainard said in May last year
that FedNow performs almost the same function as a CBDC.
However, a CBDC would be legal tender rather than a real-time payments system.
I think this is going to be a narrative.
You're not going to see this narrative probably for a few months.
Maybe closer to July.
They're going to say,
"Guys, guys, I know it walks like a duck. I know it quacks like a duck.
I know it's sitting on the water and it's eating bread crumbs.
But, guys, it's not a CBDC."
And I think that's going to see--
that we're going to see that narrative being pushed.
And so as these states come out with these laws banning CBDCs,
someone's going to do a little, little legal mumbo jumbo and say,
"Oh, 99 out of 100 things is a CBDC.
But you see that one thing? That means technically it's not.
Now, force this down your throat, and, oh, you liked this tweet,
now, you're banned." You know?
So I think it's going to be a slippery road.
It's going to be similar to what you see with cybersecurity.
A little battle, you know?
They change language here.
Then they'll move it there.
And then they'll know do a new amendment to the legislation.
Then they'll change something.
It's going to be a battle that goes on and on.