Crypto Blockchains crashing like crazy because of this one thing! Ethereum ETF is coming by May!

#crypto #blockchain #etf

Crypto Blockchains are crashing like crazy because of this one thing. And it looks like final deadline is may for Ethereum ETF.
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All right everyone we have some interesting crypto news for you well it seems like several blockchains are dropping like flies for one specific reason and you guessed it that reason is inscriptions half a dozen blockchains have uh basically fallen off the map or have had serious problems because of the gold rush for

Inscriptions and it’s broken like half a dozen blockchains because of the evm it cannot handle big transactions so basically like some are suggesting that the inscriptions are the latest way for retail to access low cap coins While others argue it’s an overhype fad whatever it is it’s clogging up the

Blockchain inscriptions are larger transactions than regular and they don’t and they don’t really mesh well with a lot of blockchains so basically the last few days I’ve seen not like not only like uh you know Bitcoin and descriptions are like clogging up the blockchain but arbitrium Avalanche

Kronos zync and ton which is the telegram one all suffering partial or full outages because of transactions and this is from coin Telegraph as well as a lot of other outlets with modular data ability availability Network Celestia the latest to succumb so none of these blockchains actually have the

Architecture could be the Achilles heel but the weird thing is Achilles doesn’t actually need to exist we kind of just like made one according to Industry research who posted a screenshot of his block Explorer on December 18th and of course videos have also been posted of Mass minting on the Celestia Network so

You know like generally a lot of these blockchains can handle thousands of transactions per second but obviously it can’t handle big transactions per second I really hope the inscriptions isn’t something that’s just like going to dominate blockchain because I don’t think it’s just those blockchains it

Would cause a problem for I think it would cause a huge problem for a lot of blockchains so so essentially like the Kronos developer reported that the team implemented a network update to activate Dynamic transaction fees that charge with transaction volume so they’re really trying to mitigate this because

They don’t have a big fix for it right now obviously it’s like money that’s driving the transcriptions and uh just like ordinals it’s money that’s driving everything quote uh crypto developer quote Bitcoin inscriptions are equivalent to writing on the smallest denomination of a currency bill utxo model evm inscriptions are equivalent of

The notes are remarks field on a payment app where you make a zero transaction to yourself and write data in the notes field so data in the notes field obviously makes the transaction size bigger and it can’t handle it um most of these have been brc2 type tokens but you

Know and they’re like you know bmbi beeg and Gro but the thing is like bringing these to other blockchains seems to be a bad idea because like I just don’t understand like a lot I guess like it just takes up more space on the Block and these blockchains can’t actually

Actually happened and if you look at Saar on Twitter it says inscriptions have taken down multiple chains and caused huge gas spikes over the last few days however very few people actually understand what’s going on um and realistically you don’t really need to understand the technical side of it but

It’s just that like they’re no good for the blockchain since anyone can participate in the issuance of a specific ticker mining it by burning block space from day one it is one of the last few Bastion where retail can get in the ground floor of a not yet

Clearly illegal fashion so I don’t really know about it being illegal but if you look at this other article it says daily gas spend on evm inscriptions surges to a high of $8 million so everyone’s trying to get on and I think most of these are probably completely

Garbage but at the same time people want them because of the possibility of making money and they’re willing to spend a lot of gas money on it to actually make money so currently the high priority BTC TX fee is $37 how many people earn less than $37 a day

Hopefully not too many of you 5.39 billion people but obviously they’re talking about over the world and most of these guys playing are probably in the United States anyways so essentially like the inscriptions are killing the evm blockchains at this point and I don’t really know if there’s an easy fix

For this I mean and I know someone the uh in the comments say like Caspa fixed this fixes this I don’t actually think it does and this I think is a big big problem for blockchains altogether if this actually catches on or they just need to plug the bug but if they do

That’s that’s going to make a lot of people upset if they kill inscriptions on everything because there is a gold rush uh second of all the SEC has delayed several ethereum ETFs now I knew they were going to delay it I don’t think anyone’s surprised but we kind of

Didn’t know like when the final decision date was so we’re probably getting an ethereum ETF by May why do I say that because I do believe we’re going to get Bitcoin ETF well before then and if they have a Bitcoin ETF and the ethereum ETFs applied in the same way I don’t think

They’ll actually have a reason to deny the ethereum ETF so by may we should have a Bitcoin and ethereum ETF I kind of expect etherum to have a run uh a little bit before may think like February March maybe some time to get some ethereum that’s going to be like

Right after the Bitcoin ETF gets accepted so ethereum might go very high at that time because of the momentum that’s actually building so in several December 18th regulatory fi filings the agency delayed its decision on the hash decks NASDAQ ethereum ETF and grayscale ethereum features ETF and remember these ETF

Applications uh the SEC can actually delay up to a total of 240 days after their file so update there uh there it is from James sefor delay order from Arvest in 21 shares on their spot ethereum ETF filing expected and was due by December 26th final date for these

Are in late May so there’s probably going to be a couple more delays until we hit that late May date now some of you are getting very confused of the ethereum ETF date and the Bitcoin ETF date um you guys are like thinking that one’s the other and that’s why I hear a

Lot of people saying on my stream that oh they can just delay it past January they can’t actually delay it past January that is the final deadline they actually have to accept or deny and I think they’re going to accept the Black Rock one I think is in March but like

Some of the AR invest ones and some of the other ones that were applied earlier are definitely going to be in January because the 240 days are up it’s statutory they can’t delay it by more than 240 days and if they accept one they will probably accept the rest of

Them that’s why you’re seeing a flurry of um revisions on the ETF and that’s why like all these companies are bending the knee and getting a cash based ETF instead of an in-kind based ETF so that’s like what’s actually playing right now and don’t think that like you

Know they can delay it until April or May because they can’t uh for the Bitcoin ETF but this is we’re talking about the ethereum ETF and I do believe by midye next year we will have both ethereum and Bitcoin ETFs obviously they can still play around with the ethereum

ETF um and delay it some more for some whatever reason they want but we’re going to get them sooner and I think this will be much easier than the Bitcoin ETF because once one kind of ETF is put through the others are going to come through um I’m going to actually

Teach people how to actually buy meme coins on different networks and um an easy way to do so you can get like stuff on Mech C but if you don’t have access to Mech C like of us don’t uh you can use any of the wallets to actually

Access things I’m going to use my cardano wallet which is eternal and I’m going to show you how I buy snack it’s a very easy process um and you can do this within the wallets although it might not give you the best price because some of

The wallets aren’t hooked up to the best exchange or the best decks if you’re doing it within a wallet you’re just doing it with a decks anyways and this is just an easy way so on Eternal like on every wallet the interface is going to be different but internal uh you have

Summary token list utxo account list you just hit token list and then you have all the tokens down here now I think on other you can also search for tokens and this should be a pretty easy feature uh on other blockchains as well and you can see that

You know these are all assets that are on cardano there’s a Ninja shadow of Darkness asset on here because that’s an nft I made that I actually didn’t sell just wanted to see how the nft was made and you can see I have like 24,000 snck

Here right so essentially if you want to uh trade on if you want to swap you would just hit the uh you would essentially just hit the swap feature I’ll just do this so there’s like a swap button here and this they most wallets do have a button like this hit the swap

Button and you can see Ada you can swap to whatever coin you want like say you want to uh swap to snack right so you just select snack and then you have Ada snack I have six Ada left let’s say I want to swap three 8 a

Snack I can just perform the Swap and it’ll tell you like how many uh each snack is worth 0388 and you can swap now I’m not going to swap this because 88 requires to have like something like 5 ad8 in the wallet to actually do a swap um it doesn’t

Actually cost you 588 for the fee uh that’s just like it’s kind of like the you just need that in the wallet uh it’ll say like it took most of it but then it’ll give it back to you once the transaction is done and then if you do

That uh you can hit swap they’ll ask you for probably a spending password mine says couldn’t cover the transaction fee missing 023 like I said I need um I actually need a couple of in the wallet to actually do this so it doesn’t actually work but like if I had put like

If I had 16 Ada it would actually work um so yeah it’s not working right now because I don’t have the minimum ada8 in the wallet to actually do these swaps you can also do instant or like um you can limit swap at a pool for a set price

Uh the interfaces will be slightly different but that’s generally how you buy snack that’s how you buy Bon and all those things like Bon you can get on coinbase now but any of these coins uh these uh coins that you can’t buy on

Coinbase or um a CeX you can get on a de like this and the easiest way to ex access the Dex is like swap uh I think this is like um done with moly Swap and Dex Hunter if you so it should give you a pretty good price but some of these

Wallets will only have like one or two exchanges which might not give you the best price you can hook up your wallet with any uh with any cardano exchange or if you’re doing salana you can probably hook up with any salana exchange on whichever wallet you actually choose so

That’s the news for today let me know what you think like And subscribe hit that Bell notifications button thank you and have a nice day