Altcoins They can either make or break a crypto portfolio Over the past few months it has beenmajority break as markets have taken a steep downturn. Thus, the questions thats been on everyones mind as of lateis it over
Will there be another altseason Well find out in just over 10 minutes, Because its time for Chico Crypto
Will there be another altseason Well to answer that questionwe need to start with Bitcoin If Bitcoin succumbs to the pressure and we enter an extended bear market All bets are off for another. True altseason
Looking at the Bitcoin price since its peak on November 10th of over 69 thousand dollars over 2 months, we have been in a bear market.
The price has collapsed by nearly 40 percent to where we were yesterday, Just over 41 thousand dollars. The price looks ugly bearishbut, fundamentally things arent looking bad for Bitcoin, The Bitcoin hashrate isnt slowing downwe have actually reached an all time high in the hashrate of over 193
4 Terahashes per second, And as we can see from this video, the hashrate and bitcoin price over timeprice and hashrate usually correlate with each other
Price is going down lately, yet the hashrate is going up, Which one is going to be the one to reverse course.
Will the price follow the hashrate up or will the hashrate follow the price down?
Well, one of the worlds largest computing companies thinks the demand for hashrate will only continue to go up Next month. In February, Intel will unveil their own ultra low voltage, ASIC mining chip, Then theres onchain analytics for Bitcoin flashing bullish signals. A Bitcoin Archive @ BTC_archive on twitter said this with a chart to back his words up.
Bitcoin supply is being absorbed by strong hands since October.
Unlike previous corrections, Sooner or later, the balance of Supply/Demand will flip and the price will rip Don’t get shaken out, The patient will be rewarded, IMO Accumulation is happening and fundamentally BTC. Hasnt ever looked this good
I agree: BTC archivepatience is key. Eventually, BTC is going to break free and another alt season will commence So for the rest of todays episode. Lets talk about fundamentals in regards to altcoins, Who are the most fundamentally sound altcoins out there.
Well, let us begin with a project who has their v4 release coming any day now, who I covered last week as one of my top 3 altcoins for the beginning of 2022 and beyond?
So to beginhave you ever heard of gaia-X Well going to the gaia-X website. They say Innovation through digital sovereignty, thats the goal of Gaia-X. We achieve this by establishing an ecosystem in which data is made available, collated and shared in a trustworthy environment. The users always retain sovereignty over their data.
So what emerges is not a cloud but a federated system that links many cloud services providers and users together.
Gaia-X is all about Data data that is controlled by the user, but it can be shared in a trustworthy way. Now, scrolling down to the timeline we can see, Gaia-X was initiated on a country level by the German and French Ministries of Economic Affairs in 2019. Today, its not just those 2 countries, Its almost all of Western Europe, Going to this gaia-x hub factsheet, we can see hubs for gaia x, have also been established in Belgium, Finland, Greece, Ireland, Italy, Luxembourg, the Netherlands, Poland, Portugal, Slovakia, Slovenia, Spand Sweden and the UK.
If we go back to the timeline, we can see what they have been building is just now getting released in its initial versions.
A few months ago, in November version, 1 of the Gaia X, core services was released, and this month, Januarythe alpha version of the Federated services was released So who, in the crypto arena, is helping build this European data exchange product Well in November, when version one of The core services was releasedGaia Xs twitter tweeted.
Oceanprotocol enables the GaiaX community and emerging European data economy to reduce development and integration time With a picture of those core services stamped with the Ocean Logo. Yes, my friends. This is being built with Ocean Protocol technology, Which is evident when you see this
The MVG Portal Demonstratoraka the minimum viable Gaia powered by the Ocean Protocol. This is the Gaia X, MVP working on the gaia-X test network.
These European countries are planning on using this on a countrywide level.
Finding publishing and consuming data services will be powered by Ocean Scrolling down to the bottom and clicking all data sets and algorithmsyou can compare these data sets with with Oceans, own marketplace and data setsas. You can see they are very similar, Pretty much exactly the same Ocean is Europes, GaiaX
Gaiax is Oceanbut, have you ever heard of Omega-X? Well, this is a collaboration of 30 European Union partners and it ties right into Gaia-Xbut before we reveal the crypto involved with this its time for a sponsored segment of this video brought to you by the team at Rubic and like always, the details of our arrangement. Can be found in the description If youre a seasoned, crypto trader, then youre no stranger to the costly time consuming struggle. It is to make a trade for a token thats on a blockchain.
You dont have any assets on
In fact, its such an issue for the blockchain DeFi ecosystem. We are regularly bombarded with projects promising fancy bridges and cross-chain swappers …
And of all the popular options currently available, most require multiple steps are time consuming and expensiveAlthough a better way already exists and thats Rubic, But Rubic hasnt been discovered by the masses.
Yet, though, the current trend is showing that might change, Rubic are pioneers in this space and have already solved the bridging and cross-chain dilemma when they introduced their Multi-Chain Swap Protocol last year. Right here right now, users can do cross-chain swaps for over 10,500 tokens between 9 of cryptos biggest blockchains, including Ethereum Polygon, BSC Avalanche Moonriver, Fantom, Gnosis and as of December Solana, and Harmony too, Were talking any token on any blockchain traded for any other token. On any other blockchain, All with one simple click of the mouse See Rubic has integrated with every liquidity pool from all the major DEXs of these various chains and are constantly adding new DEX and blockchain integrations.
They already have plans for adding another blockchain in January and February with more to come throughout the year.
With Rubics Smart Routing System, users trades are executed behind the scenes in the most efficient way possible.
Ensuring low cost trades And Rubics UI is so intuitive and easy to use its truly breaking the barriers of cross-chain DeFi, allowing users to explore news blockchains confidently, So lets actually make a trade and see just how easy it really is. Ok, lets start by going to the Rubic website by visiting www.rubic
Exchange links in the description then well click the green Launch, App button and itll take us to the DEX
At the top youll notice, the standard single chain, swapper and bridge options, both work just as youd, expect and are great features for convenience, but today were going to focus on Multi-Chain and make a cross-chain swap Alright. After connecting your wallet well take a look at the U/I For this trade were going to use some ETH thats on the Ethereum blockchain, but remember we can choose any token. We want Ok now that we have ETH chosen lets, swap it for some USDC thats on the Avalanche, blockchain
Now well find the Avalanche network and choose the USDC token
Once the trading pairs are added, well choose the amount we want to trade and click the trade button and confirm the transaction Boom, and just like that, a simple, one-click cross-chain, swap without using a bridge With this technology and ease of useRubics user base grew last year From a few hundred people to over 25,000 and with a trading volume now exceeding $ 165M, Thus its only a matter of time until the rest of the crypto world discovers the benefits and ease of using Rubic So make sure to find the links to their Twitter And Telegram to get plugged in and visit their site, so you can start making cross-chain swaps today.
All links for Rubic are below And now back to Omega-X. So what is this Well? A big piece of Gaia X is energy data Gaia X in April of Last year, put out document on this titled The energy data space
The path to a European approach for energywhich was very thorough, going through multiple description use cases of utilizing Gaia X in the energy sector.
Well, it seems things are moving full speed ahead. This quarter in the Energy space with a project named OMEGA-X Here is the document explaining Omega X and, as we can see its going to last from 2022 to 2025 and its being built ready for Gaia-X.
Now, in December of this year, OmegaX was announced by a Javier Valinyo on Linkedn. He said that the European Commissioin was funding it and work would start this year.
He also said OMEGA-X will combine together the experience of 30 different EU partners establishing the grounds for a EU data space in Energy. In order to do so, we will count on the expertise and traction of top EU Energy players such as EDF, ENGIE, EDP and ELIA. Don’T those Energy companies sound familiar EDF, Engie and Elia group
Well, that is because those 3 are a part of the Energy Web Ecosystem.
I wonder if Energy Web is key to Omega-X. Of course they are Energy. Web tweeted in December Energy Web is thrilled to be part of the OMEGA-X project funded by the EU_Commission. Energyweb will work together with a group of 30 different EU partners to integrate EW-DOS to allow trusted and secure data exchange between energy market participants. Now a Loic Tilman, who is part of Elia Group posted this on Linkedn Amazing news.
After # EnergyDataX selected from German side and that 50Hertz Transmission GmbH has actively shaped # omegaX is now selected by the commission to further shape the Energy Data Space.
More specifically, within OmegaX # eliagroup will bring the consumer centricity moonshot in order to test new market model cross-border with many different players as part of the consortium.
He speaks of Omega X but alsoEnergy Data Xnow. If we go back to the April Gaia X, document on Energy and find the section on Energy Data X, they speak of BMW within that section. Well, guess who is working together?
Well, Energy Web tweeted about it?
They said Our member Elia Corporatejust published a video about the development of digital passports for ElectricVehicles. For this proof of concept, we collaborated with Elia and BMWGroup to test a new form of identification. Now it wasnt only Energy Web tweeting, this Loic Tilman of Elia posted about it on Linked In
But he also says more to come with a specific person, Sophia Rodiger
Sophia is the founder and CEO of Bloxmove, another crypto project And Loic has mentioned them before He said in another Linked post. That’S why we are working on a continuous basis with many corporate academics and startups.
ome of them were even present in Germanylisting, both Energy Web and Bloxmove. Hmm is all I have to say..