Crypto Market Update: BTC ETH LINK ADA SOL AVAX CELO and more
Yes, i always have to double check the sound so lets jump right in this is the typical usual saturday morning session. Real fast, real, quick, real dirty lets go first of all math money freedom. You guys know the drill, and none of this is investment advice, just entertainment, so lets go in and check out the day so the day so far is red. Weve got bitcoin still struggling at that 50 000. It was up above it for quite some time. Ethereum banging on the door of 4 000., we still have a little green solana took. You know an eight point dive, but still green for the day, because it was at 15 points in this last 24 hours, bnb doge. You have matic as well moving nicely in the green and a couple of others, so that is the day so far, but lets talk about some of the news. Uh. First of all, are we in a crypto bubble and a lot of people are concerned about this? A lot of people are have their fingers on the trigger and ready to sell out, but this was a very interesting article from anatoly yakovenko. I think his name. Basically, he described the phase of where we are in the crypto market as being real, simple, the early stages of the internet when email, didnt even work now its been heavily adopted and embraced, and therefore no bubble. So in other news as well, money printing continues.
This is from pomp. He published this uh minority and get to it first, but he got to it first and basically, the fed balance sheet had an all time high of 8.35 trillion, and does it look like its going to slow down? No, is it good for bitcoin, yes, so it basically, deflation or debasement of the currency is not a good thing, but at the same time it is very good for bitcoin thats. Why we are all very well hedged here now lets talk about bitcoin itself. You can see here it did close uh above the critical level of 50 000 and its important that we stay and hang around here, but we do not fall below about 48 hundred to achieve this level of support and flip it into support as we go forward. So again, very very positive, its struggling it had some big bumps. It went from forty six seven to fifty thousand in less than two days so its there. Its on the cusp and theres gon na be, although september, is historically very bad. I believe it could be good fingers crossed because of all the goodness coming its way. So lets talk a little bit about sharp ratios. It was nice to see willy. We were talking about sharp ratios and ive been talking about them for a long time. But basically, if you look at sharp ratio, which is basically a risk reward adjustment ratio for assets, you can see over the last four years against the top coins the top coins.
Here, in this analysis, were bitcoin, doge, ethereum, xrp, bnb and basically the lowest risk and the most reward is bitcoin. So if you do want a very, very safe portfolio again, according to this analysis, bitcoin is the place to go now. Lets talk about ethereum, real quick. It is flying higher and the question is why it is pulling a lot of other cryptos. This way too, thank you marcos, but basically theres a large amount of uh price appreciation. We went from 3k to nearly 4 000 in a very short amount of days and its basically largely due to the protocol changes. Eip1559. The growth in the network is absolutely staggering, and decentralized finance is growing like crazy and lets. Look at a little illustration of exactly that, so total value locked in d5 hit an all time new high. This is just a 30 day chart. We went from 80 billion to nearly 100 billion. That is just massive and smart contracts are the way to go and thats why we have a very big focus on scps what i call smart contract platforms. You know you could dabble in storage and security and anonymity and all that type of stuff, but where i see the real money is scps and uh its right here, total address market 400 trillion now. The other thing that really happened is for the first time ever in its history. Over the last 24 hours, ethereum became deflationary. There was more burned on the network than minted over the last 24 hours, and this is way ahead of schedule and, and that is a staggering element as well just to think about already deflationary.
I didnt expect this to happen until december or even january, but again it might just be a one day anomaly, but it is huge news so and that, combined with the amount left on the exchanges of like 12 percent of supply, its a very good sign for Massive price appreciation soon, so hang on to your ethereum now in terms of this other one, i i get criticized on the internet for talking about it too much so im just going to leave that little picture there for a second and have a moment of silence, Not even going to talk about it so moving on uh layer, twos chain link, as you guys know, im a big chain link fan and i discussed there was an at an 800 day low in relation to ethereum a few days ago, but basically the new layer. 2 ethereum scaling solution. Optimism has announced that the chaining oracles are running, live and theyre bringing in real time feeds. So this is very big for chain link and also helps optimism, build up more defy applications. So a big net positive for both protocols here and chain link has been doing quite well over the last couple of weeks and couple of days, in fact, as well, so well see now a little bit of regulatory risk. As you know, we built a thing called the crypto compendium for exactly this reason and were beginning to allocate our portfolios away from those assets with the highest amount of regulatory risk.
Unit swap uh is now under investigation by the sec, but its not all bad. Basically, according to the wall street journal and other people familiar with the situation, the sec is seeking just to obtain information about how investors use the trading platform and how it is marketed, so its all to do with that level of decentralization, the more decentralized you are. The safer you are, the less pocket lining for the insiders, the safer you are, etc, etc. All these other metrics that weve built into our compendium, so the good news is uh. Gansler is looking but its more about an education, but they do believe. Maybe they could be in violation of u.s securities law and but commodities banking laws as well, who knows a whole bunch of different things, but just to keep an eye on and again be careful of these types of assets. We still own uniswap and we like it. But in terms of how big the position is compared to other assets, very small now in terms of the hit, despite the news to the actual price uni, was not hit, which is good news. Is that not a big deal or, as i sometimes say, a nothing burger, so um well monitor carefully? It takes the ssc a long time to investigate its not going to stop the adoption of unit swap as we go forward. Thank you. Jaded jedi uh lets go for one other thing. This is something that i couldnt substantiate it, but this is from d5, india, normally a very good source, and basically there are rumors that the cardano d5 test net failed.
Now, if this is the case, this would not be good, so ive been waiting for a long time to show me show me show me: i want to see speed. I want to see adoption. I want to see dexes and dapps being built on the network, but if this is true, if anybody has a source to prove that the d5 test net was a success, please let me know im a little bit anxious about that now, in terms of the cardano Chart you can see here despite the test net launch for d5, the price went down, which is not a good omen. After such a launch, it should have gone to three dollars and fifty cents instead of just down so lets, monitor this carefully and uh fingers crossed charles and the team are okay. Now, in other news as well uh the importance of this. This whole space is um. Oh ved vedic just said it did fail. Thank you for that information again uh going back to that, because i cant stress enough the importance of my whole again thesis for a long time is. I like platforms that work and are fast and decentralized and all the usual stuff and cardano, hopefully after their four years of development, will not have issues, but maybe its just a small bug that caused it to fail anyway, well, be monitoring this very carefully uh. In terms of avalanche, there is an unlocking in 10 hours from now.
This could put some downward pressure on the avalanche asset. As you know, it went from ten dollars to fifty dollars in a very short amount of time, um, but right now its about forty seven dollars and fifty cents, and this big unlock is 22.5 is quite big and that could put a lot of downward pressure once Things are unlocked, all the insiders will dump their tokens, so well be monitoring this carefully and i would love to get back in um at a lower price. Maybe in the 30s avalanche is still a great protocol, they are doing burning. The burning is not quite enough as id like, but still well see, but you got ta always analyze for dumpage, as i call it very very important. The chart itself is kind of flat, but itll be interesting to watch this chart over the next week or so so well see if the unlocking does bring about downward pressure, and i always mention where youre dancing shoes, because this whole this whole space is in flux And its moving very very fast now in terms of another thing: shallow say hello: whatever you want to call it, i always say dont chase, replace. I cant tell you the number of messages i got this week. Everybody watches they sit back and they watch coin market cap or whatever, and then wait for things to go up. 50. 100. 200 and then they say oh lets go lets go lets lets go chase this and im like.
No, please please, please dont do that, because this is what happens a classic case in point. I just thought id use this to illustrate and again im not going to analyze im not going to chase things that have gone up 100. 200, in a matter of days or one or 48 hours in this case, but you can see from the chart, it literally went from about four dollars all the way up to ten dollars in two days: okay, anybody that chased this and bought it 9.50 or 10. Now, theyre at a 50 loss – and this article just came out today uh. This is kind of funny talk about after the fact uh after 273 rally, this key indicator signaled that sailors price was overextended, uh yeah, no, something sherlock. We know that so basically, there are so many tokens out there that are witnessing these illustrious price hikes every day. Dont get sucked in the key is to get in early and wait, wait for them to bounce and then consider selling and hold on to the winners. Things like solana, because they have a very bright future so anyway, well see just be careful, everybody. Another little lesson learned and i even have an nft. These are nfts. Money goes to childrens hospital, not for me, dont worry, but i we have an nft up there. Um graphics person put together with some of my famous quotes and that is never chase replace and these are on openc forward.
Slash, invest answers so again if we can do anything and give back thats it. So a big thank you. Everybody happy saturday be safe. This weekend and ill be back tomorrow, uh for the q, a as usual okay, so ill, see if theres any very, very, very quick question from the team out there and everybody is good everything not doesnt, adjust the d5 part yep yeah everybodys every struggling to figure Out exactly whats, going on with cardano anyway be safe.