This is btc price action on the day chart and this blue line represents bitcoin’s, 200-day moving average, which historically has always been pretty telling. If we should expect bullish momentum or if we should expect bearish momentum for bitcoin, this 50 percent dip, that we saw for bitcoin the other day put us into bearish territory, usually when you cross below the 200-day moving average, and you stay there, that’S a bear market, but the bulls and the bears are fighting right now and in a few short days we are going to test the 200-day moving average again now i want to remind you that the on-chain fundamentals for bitcoin right now are still bullish check this Out, nothing has changed from the fundamentals we discussed in this past week with prior videos and that’s, just based on the data now, for you seek these videos out.
If you want an update on what’s happening on chain when something changes, obviously that’s when i’ll update you in a video, but how this affects you is that these next few days are going to be Very telling on where this market moves in the short term, we’re sort of in a holding pattern.
Now, so we’ll have to just wait and watch. What i do know is this: the way i’m, conducting my investments, making my trades, whether or whether we don’t take another leg down the fundamentals say this was an incredible by the dip opportunity and looking longer term, at least A little three to six months towards the end of the year.
I suspect we end the year much higher. Now i am not a registered financial advisor you. Let me know what you think down below in the comment section. It’s, a waiting game. I’ll. Keep you updated moving forward a lot of big altcoin news to talk about, starting with algorand bitcoin wallet exodus to tokenize over 75 million dollars worth of company stock on the algorand blockchain, so the company exodus hopes their new exit security tokens.
Will soon be available for trading on secondary markets, so this is actually a big green flag. If you hold al grand because exodus the company, the wallet completed an sec approved regulation, a plus offering earlier this year, so they’re cleared with the sec and the sold shares are being converted to tokens on the al grand blockchain.
Let me share with you the details. Now this sale was notable for the company’s, decision to only accept bitcoin, ethereum and usdc stablecoin for shares exodus touted. The sec approved share sale as the largest regulated crypto public, offering ever just as a reminder.
What is algorand well algorand is a proof-of-stake blockchain aiming to compete with ethereum on speed and scalability, so like ethereum, it supports smart contracts, meaning coins and dapps can be built on top.
In this case, the exodus common stock token exit will be on the al grand network in a direct quote. This exciting partnership allows us to move closer to opening secondary trading in the near future. In other words, the company wants exit holders to be able to sell their stock in the company using blockchain, so they want something more transparent, more verifiable and they don’t say this, but not only do they want people, people to be able to Sell their stock on the secondary market, they want people to be able to buy their stock on the secondary market too.
So give me your thoughts down below, but a lot of news to cover. Let’s. Keep moving next piece of news for altcoin injective injective is integrating with near protocol to expand our multi-chain trading ecosystem, so the network is growing and just a reminder on what injective is injective is the first decentralized multi-chain exchange protocol that unlocks the full potential of decentralized Derivatives in borderless defy so it is decentralized derivatives markets that are multi-chain and they have just expanded to another chain near protocol with our near integration, injective will be able to launch derivatives that are based on the near token, alongside native assets built on the near blockchain.
Bridging assets across injective and near will be accomplished via aurora, which provides an ethereum compatible smart contract platform powered by near interesting. What this means to you as a potential injective hodler, just know that the ecosystem is expanding and in a direct quote from objective ceo, we are excited to work alongside the team at aurora engineer in order to bring forth a paradigm shift within the multi-chain universe.
Users will be able to effortlessly move across unique derivatives markets and access a wide array of novel near-based markets not available elsewhere. Very cool. Give me your thoughts down below but, like i said, big big big piece of news.
Let’s, keep moving next up. Let’s. Talk about silica 10 global football giants with over 230 million followers will launch their nfts on silica. So what are the details? Because this is a big sign of support from polaris sports, so polaris sports, which is a leading athletic commercial rights representation firm, has announced that they have partnered with silica the high performance blockchain platform to create and release exclusive non-fungible tokens for 10 global football champions and To our european audience, you may recognize some of these players.
These nfts feature the likes of world-renowned striker, diego costa and south american superstar james rodriguez. The collection will drop on june 6th 2021, so this is coming up very soon and a list like right here all the different superstars launching these nfts.
There is different packs with different colors different rarities of the type of nfts you can find per pack, and this specially produced. Nft collection is inspired by traditional baseball cards as a digital, animated collectible that highlights notable player stats, accompanied with unique graphics, player, footage and a personal video interview.
So a lot of potential value there and the collection is the first to be created via zilliqa’s brand new white label, nft solution – i like it. This brings huge awareness to cryptocurrency and huge awareness and use to silica very cool next up.
Let’s. Talk about solana, solana launches a 20 million dollar fund to advance its ecosystem in korea. The launch comes only weeks after solana drew 60 million dollars in funding for projects in brazil, russia, india and ukraine.
So solana is planting its seeds for success globally and all these different countries, the solana foundation, has teamed up with blockchain fund rock capital to further the ecosystems, expansion in korea and iraq.
Capital hopes to spur solana-based infrastructure projects in web 3 and decentralized finance in a direct quote from rock capital solana is one of the fastest growing networks in the industry and, in addition to injecting capital, this new fund will provide tailored services for projects to successfully accelerate.
In korea and obviously tailored to solana based projects so short, but very significant piece of news good on solana. Next up, let’s. Talk about! If you lower cap altcoins. I want to give you the full spectrum when you subscribe to this channel.
So next piece of news – super farm has entered a new era with nft farming launch, so nft farming is now live and the launch of this core functionality marks the beginning of an exciting new era, empowering super holders and partner projects.
So, whatever companies team up to be a part of the super farm ecosystem to leverage their tokens for rewards in a non-inflationary way. So, basically, as a super holder, you can stake your coins and potentially farm nfts, and also companies that come into this ecosystem can have their hodlers stake their coins and earn some unique nfts for them as well.
Here is how nft farming works. Users will be able to stake their super tokens and accrue gems on a block by block basis based on their proportional share of the total pool. Once you stake these gems, these points can be redeemed for super farm genesis, series, nfts and also something else.
Additional utility will be announced in the future. Interesting i like to see progress. Let me know if any of you will start farming for these nfts, but let’s. Keep moving. I want to do a very quick update to a very interesting nft project, called fear, nfts, developing horror, games on the ethereum blockchain and also in a way horror, nfts as well fear is teaming up with dodo for a blind box sale.
I believe you can earn mystery nfts you don’t know what’s going to be in the box, but if you receive this killer whale in your mystery box, you have exclusive access to stay with our illustrator team to create your Own custom character now full disclosure – i do own some fear altcoins this channel – will always keep things transparent and to me i just found this interesting because it’s, like i said so, unique and taps into the horror genre out there, of which there’s, obviously a big audience.
The custom character is a one of a kind nft that has actual game play. Interaction fear nfts, stand out from the rest as they play an essential role in the game as items skins, map expansion, all nfts eventually tie back to the token, either as primary purchase or in-game trades.
Interesting give me your thoughts down below on fear, slash these nfts that tap into the horror genre. I’m going to keep searching as i find these new lower cap projects. I’m, going to keep putting them on your radar, and that is the video we did it great job.
My name’s. Austin, like always see you tomorrow. Tonight i’ll, be watching the lakers sons game. That’s, basketball for those outside of the us rooting for the lakers, but suns are looking better so see you tomorrow.