HUGE NEWS for CRYPTO.COM! CRONOS CRO COIN PUMP to $1?
You know the whole market is going through a little bit of a relief rally, as i record this video. So up to about a little bit more than 12 cents. Am i saying its a good time to buy right now? You know it may not be right, theres a lot of macro economic factors, but i do think at 12 cents when weve seen this coin, be, you know very, very close to a dollar hey. It is a good time to definitely be looking and paying attention to whats going on. So what is going on? This is really huge news. Crypto.Com and two others receive mas approval for vasp in singapore and right a lot of acronyms. What does that actually mean so? Mas is the monetary authority of singapore and vasp is virtual asset service provider, so theyve been given principal licenses to act as a virtual asset service provider in singapore, and this is really big news. If we scroll through this article, singapore is fast becoming one of the leaders as far as regulation of crypto assets, so they dont sugarcoat anything and they dont necessarily go out and tell the people of singapore to go and invest in crypto assets. In fact, they actually do the opposite and tell you how dangerous these things could be and how speculative they are. However, they are trying to be a leader as far as regulation of these platforms. This principal license is not something that everybody has very few service providers are granted this license as of right now and crypto.
com happens to be one of them. So if we look right here at the quote from the ceo of crypto.com, just reiterating what i just said, mas sets a high regulatory bar that cultivates innovation and protects consumers and look. I think the us can possibly take a page from what singapore and some of these other up and comers are trying to do. No one wants to skirt the laws, everybody, especially with what weve just seen with terra and then the collapse of celsius. Now the collapse of 3ac were seeing binance, basically act as a federal reserve, ftx bail out a bunch of crypto companies, so yeah. I think we all would agree that regulation is very, very necessary and its nice to see crypto.com putting the steps in place and going to the area with you know. Right now is thought to be the leader as far as regulating these things. So i thought that was pretty interesting and i think that bodes very, very well for chrono. So if we look back again over here, i think, as with a lot of crypto assets. If this is a platform, you believe – and you have to understand too. This is not just crypto.com the exchange where you can go. Take your credit card out and put in your credit card and buy some cryptocurrencies buy some bitcoin with your dollars. They also have a very full fledged blockchain ecosystem for d5 and obviously d5 has taken a little bit of a hit with what weve seen recently.
However, this is just the first step, its not really going anywhere. If you look over here, defy lama has kronos blockchain at the number seven spot and look when you look at the companies or the blockchains in this top ten right and you look at the ones that have a centralized exchange and are now dipping into the d5 Pool really the top ones here, the only ones in this top ten its base bsc right, binance smart chain has binance and binance us. You have solana, which is essentially owned by ftx and alameda research. They have their own centralized exchange as well, and you have chronos with crypto.com. So these are really the biggest players. When you look at both c5 and d5 and i think to be, you know, cornering the market from both angles. They also have an entire built out. Nft marketplace theyre doing a lot of things that i just dont think everybody knows and you can look right here: total value, locked 1.16 billion – and you know thats just you – know, 5x away 4x away from binance smart chain. Look no ones getting to ethereum right now. Until we get to this next altcoin boom, whatever that happens to be ethereum is definitely you know far and away number number one, but kronos continues to move its way up and its nice to see when weve seen this whole, you know decimation and a lot of Tvl leave the d5 space.
Chronos has really rebounded pretty nicely and also worked its way up from. You know that 10 11 spot into the number six seven spots so its nice to see what theyre doing they have a lot of projects if you come and click into here, theres a lot of d5 projects on built on this ecosystem and theres more and more Coming every day and weve talked about a bunch of them and look you know, maybe we got into some of these projects at the wrong time. You know based on what has happened, but i dont think theyre going away. When you talk about people that are building d5, they dont generally care about the cost of the coin theyre builders. They want to build new technology. The cost will follow the technology and a lot of times when youre, trying, when youre talking about transfer of technology, whether its going from web 1.0 to web 2.0 or now were at web 2.0 to 3.0. This doesnt happen overnight. This is a long drawn out process to the point where its actually happened, its just kind of natural and feeling – so i think, kronos definitely taking some nice steps and it could be a nice time to buy when you look at things like this, its starting to Remind me very much of what weve seen of past collapses right when everything is going well, good news is like the cleaner, if theres any dirt on your organization, good news just cleans it kind of mask it makes it all go, but when things are going down And the prices are falling, you know things change a little bit so coinbase crypto.
com among the centralized exchanges that announce huge layoffs. You know five eight percent. However, you know this is pretty common as far as business practice when you get close into you know, coming into third quarter a lot of companies crypto or not just go through yearly reorganizations. So i think, just because crypto.com and what were seeing with the price of some of these assets, falling in, like i said, theyre good were gon na get kicked while were down, it happens every single time the prices fall down. We need a scapegoat and people just kind of pile on and pile on. However, this is the time where you can get these best prices and i want to look real quick at the bitcoin usd price chart and i think heres, where were at right now, so fall down to the 17 000 level and right now, as i record this Video just a hair above 21 000. I think people thought oh, we got to 17, then we bounced a little bit cleared back over 20 and now were making support at 20.. That is a good sign. However, look any time you see these. These big drops, whether its here or here or here or anytime, you you, cant, just drop. You need a little bit of a cooling off period, so oftentimes we do see a v shape recovery, but most of the time when you get these huge drops, you get a lot of accumulation right here, and i know this looks like a short period of time.
This right here is 30 days. This is a month right here, so i kind of think were gon na be in this area right now for a period of time and its a dangerous area right, we could bounce up here, but we also could fall down here and i know thats great analysis Right, like oh, he said you could go up or you could go down. Oh thats, absolutely fantastic, but it is what it is when you look at this theres, not a whole lot of tell either way my my prediction or my theory or my thinking would be. If you look at the macroeconomic level, things arent looking good, whether its whats happening in the united states, with increased inflation, increased interest rates or the collapse of the bank of japan and whats happening with juan over there, but its happening everywhere. Its happening in australia and germany all over the world, uk theres rising inflation. There are these macro economic factors that just lead me to believe that i dont see bitcoin just going to the moon, especially when we see whats going on over here with the dxy and the dollar just gaining strength every single day and really the dollar. You know hasnt been this strong, you can look. This is if we go back here. This is november of 2002 and you know its over its 20 years. Basically, the dollar hasnt been this strong and when the dollar is strong, people want to hold it.
So right now what were seeing is a lot of uncertainty in this market right here. Even if you look, you know, people are asking where, where is a good spot to get in? If i did want to take a chance, if i did want to play this market, where would be some spots to look to to get in and then possibly sell? So if we bring up this right here were looking at the bitcoin usd chart with the keltner channels, and this has been a pretty good indicator, not 100, but a pretty good indicator. You know if you zoom out and look at this when were in the bottom. Half of this quadrant – this is a multi level channel here, so you have the middle line and then you have a bottom half and you have the top half so were in the bottom half of this quadrant. You know its crossed down right here. This is a downtrend, its, you know its pretty clear to see and we can go above, but any time you go above in a downtrend, its not sustainable, its not sustained for a long period of time. So we go above, but we fall back below. We dont use this middle line as any level of support thats in a downtrend. However, if you look at an uptrend its the exact opposite so so now were in the top part here and we could go below, but we dont use this middle as any type of support here so or resistance when were moving up.
So its been a very good indicator for bitcoin, not a hundred percent, but you can see right now were at right now. Weve fallen below the bottom line in this channel here and weve worked our way back up into the bottom half of the channel. So when you think of where would be possible points to look where it could possibly reject if it worked its way up and then where could a possible rejection, be you would look to the middle line of this channel and the top line of this channel. However, i will say if youre watching this video in a week, this is a moving average right. This this band is a moving average, so these numbers are going to change. But if we look at this right now as im recording this video on june 24th, the middle line right here is at a level of 23 500 and the top line right here is at a level of 27 000.. So does it have to get back and test either of those levels? Absolutely not. Could it go up and shoot through? Well, if you look at, you know how this band work it doesnt generally go through either of when it goes below it generally retracts or rubber bands right back up and when it goes above, it generally comes back very very quickly. So will it shoot above this level at this current time it doesnt look like its going to.
You also have this resistance level right here at that 28 500, that weve had going back here and here and even back into 2021 as well, so its a dangerous region for bitcoin. I still think we are going to retrace whether its today tomorrow in a week or a month, i still think we go back and retrace to this level where weve seen a lot of support in this level. Here you know right now, its sitting at about 10 hundred to about twelve thousand five hundred. I know thats scary for people and people wan na you know thats impossible. How could ben can never get anything can happen? Anything will happen in this market and i just think we have to be prepared zoom out. This is a blip on the radar, but right now these are big big drops. I want to close it out with this piece of friendly advice. If you use voyager theres nothing wrong with it, it is a good, centralized, crypto exchange. They also have a vgx token as well. I have used voyager in the past four exchanges. However, they have been affected by three arrows capital. They have been given a bailout loan by alameda research ftx. However, now youre seeing this voyager lowers their daily withdrawal limits from 25k to 10k. You can do whatever you want. If you have funds on voyager, i dont know that they do anything better than binance us or ftxus or binance or ftx or crypto.
com. So i think, in this market it is a little bit better to be safe than sorry im, not telling you to move your funds off voyager. I hope everything goes well for this company, however, read what you will into this: they are lowering their withdrawal amounts. Weve. Seen what happens with celsius? Theyve cut it off other companies, babble finance have done the same thing i dont want anybody to get screwed so take what you want from this voyager has lowered their withdrawal limits all right, thats all for this video well be following chronos.