Today In Crypto: ADA Cardano, Solana Crash, Golden Cross & More!!📰
These are going to be your cryptocurrency market highlights for tuesday, september 14th and wednesday september 15th, 2021 and boy was today an eventful day, especially for solana. So if you guys enjoy this sort of short form videos, these short form updates. Let me know by liking the video down below subscribing to the channel and if you want additional content access to our discord, buy and sell alerts make sure to check out our patreon. I just added an additional five spots because ive been getting a lot of messages about opening more spots. Anyways first thing is the overall crypto market is doing quite well today, bouncing back very nicely at a 2.11 trillion dollar market cap. A couple of key things going on with bitcoin and the overall market is that bitcoin right now is looking very likely like its going to have a golden cross, which is where the 50 day moving average crosses above the 200 day moving average. This is on the daily chart. Normally, i dont throw up charts on the screen, but i want to show this one in addition to this. If this happens, this is a very bullish sign for crypto. In addition to this, the second technical indicator, which is looking very, very positive for crypto right now, is overall bitcoin supply on exchanges. Right now, we have reached an all time low, lower than we saw in november of 2024 bitcoin the supply on exchanges, which is a very bullish sign as well, showing that people who are holding bitcoin are holding for the long term, taking it off of exchanges moving.
It to cold storage and have no plans of selling it anytime soon, and the third thing going on with technicals is that we have seen something called the sopr, which is a classic metric, classic technical indicator for determining oversold overbought, um periods on bitcoin and crypto flashed By for the first time since early july last time we saw it, flashbuy was when we saw the entire crypto market go from about thirty thousand dollars per coin. All the way up to fifty three 000 per coin. Next up is with solana. So lana had a lot of issues today and the whole entire network basically crashed it did crash. We saw transactions just stop processing on the solana blockchain and according to the solana team, they came out on twitter and said: look solana, mainnet beta is experiencing intermittent instability. This began approximately 45 minutes ago. This was early in the day on tuesday september 14th. They go on to say that resource exhaustion in the network is causing a denial of service. Engineers are working towards a resolution. Well, go over this more in tomorrows video full entire breakdown of this, but you got ta. Remember solana is a very new project, just established in 2017, so seeing issues like this its a little bit concerning, but its not to be a surprise, its to be expected for new new companies. New projects, like solana that really havent been around for so long bitcoin, has been around for almost a decade and solana barely been around.
Moving on next story is with whale accounts, because kevin oleary, the one person who used to say that bitcoin was garbage, has come out and said that he wants to double his crypto exposure in 2021 from three percent, which is his current portfolio allocation to seven percent. By the end of 2021, he said you cant be if you cant afford to be on the sidelines for crypto right now, especially as we start to see trillions of dollars pour in from institutional investors when we start to see regulators push and approve bitcoin and ethereum Etfs, you definitely dont want to be on the sidelines and then lastly, is gon na be with cardano cardano recently had its alonzo upgrade and everyones wondering when are we gon na start seeing projects? Well, we have finally started to see a number of projects roll out on cardanos blockchain, just some new ones were gon na continue to see more and more big ones rolled out over the next couple of weeks. The next couple of months, weve seen two pretty exciting ones. So far, one is a cardinal based project called kick.io and another one is called greed, which is a another. Its a token for releasing music on cardano so well continue to see what happens, but that is whats going on with crypto today.