After what felt like an eternity of fud coming from all directions, the crypto news cycle appears to have turned a corner and the markets are responding. Bitcoin has reclaimed several supports, levels and Ethereum is doing the same. I’m not saying we’re out of the woods just yet, but the negative sentiment seems to be falling behind.
Just like the Atlanta Falcons, [ Music ] today, we’ll be looking at giving you the lowdown on all the stories affecting Ethereum as well as some of the most exciting developments coming on the blockchain. Let’S get it welcome to bitboy crypto home of the big squad, the largest and greatest crypto community in all the interwebs.
My name is ben every day on this channel. I show you how to make money in crypto. If you like money and crypto, then make sure to hit that subscribes button and smashes the like in this content, I’m covering the latest on what’s happening with Ethereum.
The last few days saw markets rally in anticipation of the long-awaited b-word conference virtual summit between three of the most influential people in business today hand to the king, jack Dorsey, Kathy wood as well as crypto’s, very own court. Jester the muskrat.
The discussion was mostly about bitcoin, but in a surprise, move Elon also revealed that he’s a fan of Devi and personally holds some Etherium as well as a stack of doge, probably worth billions of dollars. Didn’T hear it from me. The news sent crypto twitter into a minor frenzy with its value climbing around 11. In only a few hours. Now don’t get me wrong.
I was as happy as anybody to see some big green candles, but as much as I wish, crypto would truly decouple from Elon’s influence, there’s no denying that he still holds significant sway in the space and that likely will continue for many years to come. Speaking of Twitter, there may just be a new kid on the block, with divi project ave gearing up to launch an Ethereum-based alternative to the social media giants later this year.
While this wouldn’t be the first attempt to build a meaningful decentralized rival to challenge twitter’s monopoly. Ave is a serious player in the device space with over 11 billion dollars, total value locked tom, this recording. Personally, I love ave and I have plenty of it in my portfolio.
This comes in the wake of Jack Dorsey’s plans to create a new division in his payment company square intending to bring device services to bitcoin wow in response ave, founder Stanley, Kulichov tweeted. That ave should build Twitter on Ethereum and it seems that’s exactly what they intend to do.
Citing concerns over censorship and a monetary structure that benefits shareholders over users. Will it work well, those that have tried so far have failed, pretty dismally Justin’s on. Is it possible for a decentralized Ethereum based Twitter alternative to succeed?
Well, you could do a lot worse than having AVI at the helm. Smart money interest in Ethereum also continues. Reports hit the headlines this week. Jp morgan is now allowing all its wealthy clients, exposure to crypto-assets. What noble leaders jp morgan clients can now invest in a series of five trusts, which includes the grayscale, Ethereum trust and the Ethereum classic trust.
Ask yourself if Jamie Dimon still has no interest in crypto, then why is he allowing his clients to get exposure to it? Go figure? Also, in the headlines, was the Rothschild investment corporation with data from the sec, showing they added to their investment in the grace, kill.
Ethereum trust bringing their treasure chests to almost 280 thousand each I’m no ross child, but I do want 280 000 likes on this content, so don’t forget to hit that button and smash the subscribe button. It really helps us out keeps you in the loop on the latest in crypto.
Meanwhile, at the legion of doom, I mean Goldman Sachs. A report has come out indicating that over half of the family offices associated with the firm are already investing or interested in investing in crypto assets. Unsurprisingly, the reason behind this level of interest was a growing concern about higher inflation, prolonged low rates and other macroeconomic developments.
This comes only a few weeks after a Goldman Sachs memo suggested they believed Ethereum could overtake bitcoin as the dominant store of digital value. It seems jp morgan is on the same page on this one, with some analysts at the investment bank predicting staking rewards to hit 40 billion dollars by 2025.
It’S nice having others support my predictions, even if they are wall street scumbags. Look. I’ve said it here before, but if you’re new here listen up, Goldman Sachs and jp morgan are the same institutions that have been spreading fud in the markets in a bid to drive prices down.
What’S important is that we ignore what they say: pay extremely close attention to what they do, while always remembering they call it smart money for a reason and just look. Data from the glass node shows how sharply the interest of eath held on exchanges has dropped.
In recent weeks, that’s crazy low and it’s just accumulation across the board, from both institutions and retail alike. Someone who’s never doubted crypto in Ethereum’s use case is a real vision. Ceo and former Goldman Sachs hotshot Raul Powell. In a recent interview on the defiance, Raul would double down on his belief that Ethereum was the number one crypto asset he put simply if you could only own one asset over the next 12 months. What would it be?
It would be Ethereum because it’s the least risky, with the highest rewards Raul, also expects a big pump coming soon. Signing Ethereum 2.0 transition to proof of stake, as well as the eip1559 upgrade scheduled for August 4th, and it seems he’s put his money where his mouth is revealing.
That 55 of his portfolio is in eth only 25 in bitcoin, and the remaining 20 percent is a range of other ALTs, a well-known advocate of Metcalfe’s law and the network effect. He recently tweeted this interesting graph, showing how much more growth Ethereum has experienced since 2018 than any other network out there.
As far as he’s concerned, though, this is just the beginning, in a recent interview on the defiance podcast, Raul goes all-in on what he believes to be the next big thing coming to Ethereum, bigger than DVI and NFTs combined social tokens. That means tokens for brands. Influencers sports teams, you name it – uses Disney as an example, a global brand, with a legion of fans as big as 3 billion.
I think 3 billion might be a stretch, but hey either way it’s a huge number. But what if there was a Disney token that worked within the Disney ecosystem, not only allowing token holders to spend it benefiting from exclusive deals, discounts and access, but also sharing in the economic prosperity of that community.
According to Raoul Powell, this would represent a whole new value system. Culture is something you can invest in where consumers become aligned with their favourite brands or influencers in a totally unique way. Last but not least, the Rumors of NFT’s deaths are turning out to be a bunch of bunk.
One particularly vocal proponent is entrepreneur, Gary Vaynerchuk, who couldn’t be more bullish, comparing the NFT space of the early days of the internet and social media, hopefully, picked up some space jam NFTs last week, which played a major part in the marketing strategy to go with the film’s Release these non-fungible tokens also served as a vehicle to launch nifties a new NFT marketplace with backers, including our old shark tank bro Mark Cuban and thinking about it. Space jam is the perfect movie to champion the use of NFTs.
The story of a man who goes down the rabbit hole only to find himself transported to a new shiny digital world full of weird characters and high stakes plays sounds like many of our journeys into crypto. So a big-money player is super bullish on Ethereum and the network effect, proving just how versatile the network is it’s hard to believe it will continue to stand in bitcoin shadow much longer if you’ve been following this channel you’ll know, we’ve been calling for.
What’S dubbed the flipping for a long time – and I maintain it is inevitable, if not this year, the next, why well, sometimes it’s all too easy to focus on our portfolios and forget what we’re actually investing in Ethereum isn’t just a number on a chart. It’S a technology that has the power to change the world in ways. We can’t even imagine yet with a use case that extends into almost every aspect of modern life.
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