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#crypto #bitcoin #investing
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Welcome back in today’s video we’re going to be discussing cardano is dethroned out of the top 10 cryptos and much much more we got a lot to discuss in today’s video including is Donald Trump dropping dropping hints as to who his crypto director will be if he’s elected president again Congress is
Asking questions about Facebook or meta’s crypto exchange and the igen later reaking is now exploring shared security we’re going to be discussing how sui and pulse chain have surpassed Ada don’t forget to give this video an absolutely free thumbs up remember we upload every single day of the year to
Bring you the latest happening in the financial world so hit that subscribe button turn on notifications give the video a thumbs up and let’s get right into today’s topic starting out representative from Congress Maxine Waters presses meta formerly Facebook on crypto exchange plan she sent a letter to meta Executives expressing concerns
With recent filings related to digital Asset Services in the letter to Mark Zuckerberg and the Chief Operating Officer Maxine Waters said she was concerned about the filing status of five trademark applications related to various digital Asset Services and blockchain Technologies within the US patent and trademark office Waters who’s
A ranking member in the house Financial Service committee said in the uh according to the filings that meta is appearing to show a continued intention of expanding its role in digital asset Market saying quote despite these trademark applications which indicate there are specific goods and services connected with digital asset work that
Meta is doing meta staff asserted in October of 2023 in communication hearing uh with staff that there is no ongoing digital asset work at meta she’s demanding answers on whether meta is pursuing crypto exchange plans and how it may be implemented into its other platforms now what’s important to keep
In mind is similar to if you guys have any understanding or knowledge about WeChat in China these are social media apps that are connected to these digital wallets that effectively let the users pay for goods through QR codes in stores and stuff like that and this may be the
Route that meta is going especially for payments within the actual metaverse probably Maxine Waters is still uh viewing meta as Facebook which it is really um obviously they have Instagram and WhatsApp and some other companies but it’s all generally in the same kind of field and what meta or metaverse is
Looking to do at least from what they say is create this metaverse experience guys I’m sure during this upcoming Bull Run Bitcoin having cycle we’re going to hear a lot more about this you know meta has been putting in you know literally taking tens of billions of dollars of
Losses every single year to develop this metaverse ecosystem and it’s going to be interesting to see what they’ve come out with after you know 4050 billion do over the last few years and a rebranding is it actually changing anything for the metaverse well we will find out and we’re also now
Hearing that President Trump has gave credit to Vivic ramaswami for informing him about the dangers of the cbdc Central Bank digital currency now before I play you guys this video from the end of January 2024 it is important to understand that Vivic is very knowledgeable on crypto he is a crypto
Investor from my understanding and very high level entrepreneur so he understands the stuff the night that he dropped out and he went on stage with Trump to endorse him he basically that’s the night that we heard Trump say that he will never let a cbdc go through so
We’re already starting to see the end stages of the development of the cases for these presidential platforms right we don’t really fully know what the Democratic side is besides what they’ve been doing with Elizabeth Warren creating the cryp crypto Army Gary Gensler going after crypto the last four
Years but we don’t have any clear paths forward for what either side believes for crypto and as you guys know there’s a lot of single-issue Voters out here that doesn’t matter who the candidate is they are not voting for whoever if they don’t support crypto and so this is
Going to be really interesting to see if personally I think that Trump is going to choose Vivic as the VP candidate but maybe not either way I do think Vivic is going to be part of the cabinet if Trump does get elected and so this is something that we’re going to be
Following because I do think this is going to probably determine where the market goes this cycle and also uh how long the bull market actually last let’s listen to Trump’s recent uh updated comments about the cbdc and Vivic ramaswami and again don’t forget to give this video a free thumbs up we upload
Every single day of the year to bring you the latest happening in the financial world let’s listen in and this I do for Vi because he’s very big into a happen new agre with him but he said could you mention this I will never he said I
Love we I love him too now I didn’t love him when he was running but I like him now it’s amazing the way you can like somebody when you win right but re is great he’s really great but he wanted this and I’ll give him full credit for it it’s very important
Actually I will never allow the creation of a central bank digital currency so there is clearly a line being drawn in the sand it is it is a little bit surprising how well versed the base is going to become on cbdcs and the danger of cbdcs and the
Other side that’s really supposed to be against these large Banks and large financial institutions and against the FED they’re the ones who are cheering all of it on it’s going to be really really interesting Year guys and uh I think I’m ready for it hopefully you
Guys are as well anyway next up a bug that took down 8% of ethereum validators has now sparked worries about an even bigger outage and this as we’re approaching the Bitcoin having cycle potentially the bull run and now we’re hearing about potential more outages on the second largest Network in
The world I mean are they trying to copy Solana from the last cycle like well Solana went from 25 cents to $250 and it went down about 48 times in the first year so let’s kind of copy that because maybe that will bring ethereum’s price up to
$220,000 I don’t know it seems like that could be part of the situation but anyway uh ethereum just had one of the moments where the big story is what didn’t go wrong a bug in the ethereum nethermind client used by validators of the blockchain to interact with the
Network knocked out a chunk of the Chain’s key operators this past week it was a manageable event but the episode revived long simmering debate in the ethereum Community around the need for client diversity some expert took the opportunity to point out how bad things could have been if another client
Software called gu the Chain’s most popular execution client had got out the question is whether ethereum could have gone or kept going since gu stands out as a possible single point of failure for the network so if you guys are the easiest way to understand it is right
These clients these are just basically you know software that help run the validator node so if one of these software applications right it like think about it you get updates on your phone all the time for apps right well what happens if one of the updates has a bug in it that allows
For you know the the app to not function properly now imagine that app is actually running a blockchain and 50% of let’s say the validators are using that software if that software updates and has a bug or a critical point of failure within it this effectively could take down 50% or more
Of the of the nodes and therefore create a security situation for the blockchain when these things happen so rapidly if they’re done on purpose right by uh by somebody who’s exploiting that bug it it happens so quick that the other nodes may not be able to react
React in time and this is where there could be a fork in the network or there could be uh you know 51% attack or something like that that creates the situation where where the network is compromised and obviously on the second largest Network in the world with a lot
Built on top of it this can’t happen now the other day uh we’re going to come back to this in just a minute but the other day I posted this uh we we we talked about this on the video where DC investor on X he says he’s an investor
Adviser and fan of crypto 237,000 followers he said he unstaked all of his ethereum from coinbase he said that you know obviously he doesn’t believe even you know just centralized uh ecosystems but and he didn’t stake all of his ethereum with coinbase but he did want to support coinbase which I think many
Of us should be doing especially what we’re doing for the wider crypto ecosystem uh that that’s basically why he was showing support and staking on ethereum but he said that he can’t ignore the risk of what appears to be a single client staking setup reliant on the GU software right so coinbase is
Only using the get software so if again if there was a potential bug or exploit or anything like that potentially all of the ethereum within the coinbase staking ecosystem could be potentially at risk and that may be completely out of coinbase’s hands and so he was critical
Of this and I actually I didn’t even understand the full synopsis that this was like an ongoing discussion in the ethereum ecosystem at the time but effectively this is one of the reasons that this occurred right that that he unstaked his eth from coinbase now I
Don’t think I pulled up the reply here but effectively Brian Armstrong the CEO of coinbase responded to him and said that they’re looking into it over at coinbase and this is the power of X this is the power of the new world of social media because it allows everyday users
We talk about this on a regular basis right I can’t I can’t believe how many like YouTubers I watch and they’ll go to order something like at a restaurant or at a drive-thru or at a store and they’re like nervous to ask for special requests like if you don’t want ice and
Your soda ask for it if you want your coffee extra hot ask for it right if you uh if you want you know additional toppings on whatever you’re eating ask for it right don’t not ask for it again the customer’s always right somewhere down the road people just kind of miss
This miss this setup right and I do believe that companies that want to improve will listen to their customers whether it’s good stuff bad stuff in between just neutral stuff and coinbase we’ve heard we’ve seen this happening over and over where somebody will tweet coinbase or tweet Brian Armstrong and
Things get things get fixed and I I personally believe that coinbase employees for the most part want the ecosystem to improve so they want that feedback and so hearing things like this well obviously not only did coinbase’s CEO respond but coinbase Cloud responded with a seven-part tweet about the whole
Situation they wrote on X execution client diversity on ethereum is a critical concern for all of us at coinbase here’s what we’re doing about it coinbase Cloud prioritizes the security of customer assets and the underlying blockchain above all else when launching ethereum stake in evaluating execution layer clients to
Maximize these traits G was the only client that met our technical requirements they say although we’ve evaluated execution clients since 2020 none have met coinbase Cloud’s requirement to date many other operators on the network have reached the same conclusion which is part of the reason why 84% of ethereum validators run gu
However the tide is turning keep that in mind guys 84% this is the issue with a lot of proof of stake networks as well a lot of the proof of stake networks utilize Amazon web service the cloud or uh Microsoft azour cloud to for all their compute and all basically to run their
Nodes so while people are saying on one hand especially like in the cardano ecosystem is a perfect example because a lot of the the bandwidth for the cardano staking ecosystems goes through these thirdparty data providers right so for people in cardano ecosystems to say well cardano is completely decentralized well that’s fundamentally
Invalid and incorrect while it may be more decentralized than other networks it’s still has a level of centralization because if you shut out web uh Amazon web service and Microsoft uh azour and maybe Google Cloud how many nodes are actually going to be running on the network and obviously ethereum is
Dealing with the same type of situation here they continue saying alternative execution clients have come a long way and so coinbase is conducting an updated technical assessment of the goal of adding another execution client to the infrastructure coinbase has a history of supporting client diversity on ethereum
We shared our plans for consensus client diversity in February and too long uh didn’t read is we needed Lighthouse to add security features for remote signing and Then followed up in May after they were able to add Lighthouse support and balance their validators between those and prism they say we’re performing the
Latest assessment of alternative execution clients we’ll have more to share on that process and our next steps by the end of February to sum up we take client diversity seriously and have made some good progress and are striving to improve it I love it this I mean this why would
Anybody not be supportive of coinbase when they’re they’re listening to the customers they’re saying you’re right like granted we only had one uh one client that we were using because the other ones weren’t working but maybe coinbase needs to get involved and help bring out that client diversity and make
The network even stronger and these large institutions at the end of the day whether they want to be or not they have the power because they have the power of the coins the the number of coins behind them to help make these things happen anyway that’s what’s happening in
Ethereum moving right along this guy on X said breaking news theu network has now overtaken cardano to become the number two non- ethereum virtual machine Chain by total value locked impressive Milestone reached after only eight months since the main net and this is a big situation for cardano right now not
Just cardano really all of the Legacy blockchains and when I say Legacy blockchains we’re effectively in generation three or generation four blockchains right Bitcoin was generation one ethereum cardano Litecoin xrp these were generation 2 generation three blockchains were the solanas of the world maybe even the apposes of the
World uh the chain links Avalanche polygons and now we’re in generation four where you’re seeing the SE Network the S network and many others that are starting to become basically the new generation of blockchain and what I have been warning about on this channel for months now is
That this upcoming cycle it is due or die for every former generation blockchain because these former generation blockchains the generation one two and three blockchains they are still striving for some of the technology and trying to achieve some of the Milestones that these brand new blockchains are achieving and for cardano
The stakes couldn’t be any higher because now cardano is at this critical moment where cardano does not really have any interoperability cardano is discussing the implementation of usdc but is it going to happen is it too late is circle even going to you know entertain this kind of conversation
These are a lot of questions that the cardano ecosystem needs to ask one of the things that we talk about on this channel is kind of the an is from an investor point of view whether these are investable or not and I think I made my uh my investment strategy and thesis
Very very clear up to this point that’s why it’s important that if you guys are watching this video you guys subscribe to the channel That way you never miss a new video we upload every day I lay out my investment strategy thesis thoughts every single day for you none of it is
Financial advice so make sure you guys do your own research one of the other metrics besides this interoperability piece but it kind of ties in is Defi and while cardano has had a pretty good end of 2023 in terms of total value locked I think a lot of the cardano community
Took this uh didn’t take this with a grain of salt if that’s the right terminology I think that a lot of the cardano ecosystem uh kind of rest on their Laurels as cardano made its way basically through the bare Market from the number 30 blockchain by total value
Locked all the way up to number 10 at the beginning of 2024 but as you guys can see here coinbase has now been dethroned by not only theu network not only the pulse chain network but also the Manta Network and so the reason that cardano’s tvl was
Able to get cardano into the top 10 at the end of 2023 and into 2024 a lot of this had to do with the price appreciation of cardano because of the wider crypto Market was moving higher but it wasn’t based on any actual fundamentals or changes or upgrades or
Enhancements to the network there that is still stagnant right we still don’t have interoperability we still don’t have cross chain Bridges outside of the cardano ecosystem and that is going to hold cardano back significantly but now is there’s another issue and this other issue is starting to come to light as
I’ve explained and that is the new generation the generation 4 blockchains are all launching now and these generation 4 blockchains they’re launching already with better metrics than some of these Legacy chains and this is going to be much harder to reverse because while chains like cardano and uh you know say abdos are
Going to be playing catchup these other blockchains that uh Generation 4 chains that are launched already they don’t have to catch up to they just need to grow and you guys know from launch to like year three it’s exponential growth this is why everybody looks at Bitcoin because Bitcoin went from zero valuation
To $1,000 in effectively six or seven years right and um people are looking for those same moves but that move from zero to that first Milestone is much easier to do at the beginning than it is to do later on and so it’s going to be much harder at
This point because cardano has been doing you know it has had all this technology already enabled on the chain and it’s been around for you know five six years at this point where s pulse chain and Manta Manta literally just launched a week or two before I’m recording this video and Manta has
Already outpaced coinbase’s base with 32 different um different protocols built on top of it and $440 million of tvl again brand new just two weeks after after it launched pulse chain which people say is you know a scam and Richard Hart is scamming and all this stuff meanwhile pulse chain has more tvl
Than cardano does complete and nowu which is another generation for chain so what worries me at this point in where we are in the cycle is we’re a little bit F far down the road to start talking about enabling things or launching things like usdc that’s why my odds of
Usdc actually being implemented on cardano extremely low because of where we are in the cycle now when we’re talking about all of these Generation 4 blockchains that are launching already and we’re not we’re preh having most of these newer coins that we’re going to see launch they’re going to launch or
We’re going to start to hear about them later on in 2024 in my view based on historical data that what happened in 2020 there was a lot of new launches in the middle of 2020 new coins new new cryptos that were launching and these cryptos forget about from a price
Perspective just from a usage perspective an adoption perspective an expansion perspective these did significantly better and so this is a critical juncture critical situation for cardano you know usdc in my view is the indicator guys and I’ve said this over and over because if cardano cannot get
Usdc on there’s no way for me to believe that a state another stable coin like us Deen is going to be better or deed is going to be better I mean you guys know the these kind of claims are are false claims and I believe dishonest claims
Because there’s no way mahen can do better than usdc when usdc market cap is larger than cardano’s altogether and the liquidity is going to be significantly more than probably all the stable coins on cardano combined so that is the critical situation getting usdc on because this is going to bring that
Liquidity in this going to solve a lot of these issues that cardano has from a tech technological perspective very very rapidly the question Still Remains Not only will cardano do it can cardano do it listen I’m cheering them on but at the end of the day you know when I look
At cardano s pulse chain and Manta where we are in the cycle right now personally I probably rather own Manta because it just launched um and I don’t like holding new coins but again the defi has surpassed coinbase okay and their market cap is $570 million their market cap is $570 million
And their defi in uh Manta is $440 million how does that work I don’t know you guys let me know Down Below in the comments anyway moving right along because we got some other things to talk about but I really want to know what you guys think down below about cardano
Getting dethroned and don’t forget to give this video a free thumbs up I upload every day of the year to bring you the latest happening in the financial World completely for free every single day and by the way the other thing to look at here is that the
Reward rate for cardano is lower than most of the other major coins here and so co uh you know staking rewards this can’t be the uh like the advertising or the marketing claim right during the last cycle yeah there weren’t that many proof of stake staking blockchains that were
Secure and giving good reward rewards cardano and ethereum were both doing that Solana as well but you can see Solana reward rate is now double what cardano is ethereum and cardano are pretty much flat with each other but again Solana has a higher reward rate s
Has a higher reward rate Aptos has a higher reward rate Celestia has a higher reward rate Avalanche higher binance is not so again these newer chains these Legacy these generation four chains Su Aptos and tia generation three chain Solana Generation 3 chain Avalanche the generation three and generation fours
Are doing way better than the generation two and ones like Ada eth and BNB so something to keep an eye on anyway moving along with the igen layer plans for a shared security model for their daps now we covered this the other day in our video about the igen layer I
Have a full video about the igen layer coming out so if you guys don’t know what the igen layer or reaking is on ethereum I definitely recommend watching that video I think the video is called what is igen layer so it’s going to either be out already or it’s going to
Be coming out in the uh near near term to keep an eye on so hit subscribe that way you never miss these videos anyway reaking protocol igen layer plans to adopt a shared security system a mechanism allowing protocols to join the network by leveraging a common pool of
Ethereum stake according to the team Igan La uh Igan layer offers a protocol call for users to deposit and restake their ether from various liquid staking tokens aiming to allocate those funds to secure thirdparty networks according to the party’s first stage which was released in ethereum’s main net in June
Of last year 20123 in the future the team intends to nudge the project into a major decentralized application platform and enable other projects to launch leveraging the so-called shared security that version will enable the amount of ethereum reakes on the igen layer currently at$ 1.7 billion to be supplied
To all services developed on the network simultaneously for a sake of a common security mechanism this would make it economically unviable for an attacker to take down any given protocol now keep in mind this is one of the issues with the igen layer is that if there’s too much
Uh ethereum in the igen layer for reaking that is a security risk because what happens if the igen layer there’s an issue because the igen layer effectively is a smart contract so there’s issues with smart contracts sometimes and we don’t know about them sometimes for a many years and one if if
There’s a lot of eth let’s say 10% of all the staked eth in the igen layer and the Igan layer has an issue could be pretty bad right so according to the igen layer founder he says you need 1 billion dollar in capital maybe Dr Evil
Has that as an attacker to go and attack any one SE and there’s a certain rigidity a certain hardening of security when you pull security together he says such s such whoo such a shared security model have previously been introduced by projects like polka dot although the
Mechanism differ vastly polka dot uh is an ecosystem of blockchain secured by the relay chain and a native token called dot whereas the IG layer will Empower eth stakers and those holding eth liquid staking tokens to restake those assets in order to economically secure blockchains or services that
Don’t necessarily run on ethereum but sometimes these Services need ethereum because ethereum is the base layer right and so this is going to allow people to not only stake and make rewards that way but also do other things in the ecosystems to support growth and also hopefully make money as well so guys
There’s a lot happening in crypto a lot of people are asking me if this dip at the end of January is the capitulation I’m talking about I don’t think it is because the debt Market is not really indicating that this is the capitulation event the capitulation event I believe
Is going to happen probably within the next 60 days right by the probably like by the end of March because that’s after that’s when the the bank funding is going to be ending and we know what happened when they didn’t have this Bank funding last year three Banks collapsed
Or more and they’re all still kind of in this precarious situation where they loan out all this money and they have no money left right and rates are high so they’re not really loaning any more money out and if they are they’re putting it at high rates but they’re
Also getting a lot of foreclosures they’re getting a lot of repos and stuff like that so this is also affecting their bottom lines but at the end of the day these major banks are still making billions and billions of dollars in profit every single year so in my view
Not only is the are the banks going to be doing well in the long term but so is crypto and that is what we talk about on this channel almost every single day of the year so make sure you guys are subscribed to the channel give the video
A free Thumbs Up Hit subscribe and I’ll see you guys tomorrow crypto on
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Second🎉🎉🎉🎉 gotta get that daily dose of tge cryptovisor
3rd!!🎉