welcome back everybody to altcoin daily my name is 
aaron right now comment your favorite altcoin in   the comments below we're seeing double digit gains 
in cryptocurrency some of the higher caps are up   10 15 some of the mid to low caps are up 20 
30 40 in the last few days there is plenty of   opportunity in cryptocurrency in today's 
video i want to go over the hottest news   stories everything you need to know if you're a 
cryptocurrency investor or you're a cryptocurrency   enthusiast i want to go over the hottest altcoins 
you need to hear about link you need to hear about   cardano solana ethereum nfts and bitcoin of 
course smash the like button if you appreciate   us coming at you on the weekend smash the 
like button it's a small thing you can do   and it truly does help the channel grow with 
that being said let's get into it grayscale   has just made a sizable purchase of solana and 
uniswap to make their large cap investment fund   now worth close to half a billion dollars 
let's talk about why they did this why did they   purchase solana why did they purchase uniswap 
and which other cryptocurrencies do they hold   cryptocurrency investment house grayscale 
has added solana and uniswap to the almost   half a billion digital large cap fund in its 
latest quarterly rebalancing the allocation   marks the first time that the new york-based 
company has added solana to an investment vehicle   at the end of yesterday this these are the 
numbers solana made up 3.24 percent of the digital   large cap fund uni another one percent bitcoin 
dominates the large cap fund making up 62 percent   ethereum is the next largest coin making up 
26 cardano chain link litecoin and be cash   make up the rest what do you think of the coins 
that grayscale holds in a large cap fund do they   all deserve to be here which coins would you add 
on top of these now the fund bought solana and   uniswap by actually selling off some of the other 
assets in the fund as you do with a rebalancing   grayscale has decreased its bitcoin allocation 
by about five percent since the last rebalancing   other holdings changed by small amounts the 
fund's ada holdings only introduced last quarter   has actually increased from about four 
percent to about five percent very interesting   so grayscale has actually updated its portfolio 
to better reflect their views on the state of the   market going forward they're going to rebalance 
again one quarter from now and they changed their   portfolio based on the way the market changed 
based on where they think we are in the cycle   based on where they think their money is most well 
spent the rebalancing emphasizes how solana has   become a favorite of the cryptocurrency market 
the solana blockchain functions as a high-speed   low-cost competitor to blockchains like ethereum 
and arrival to cardano polkadot and binance   smart chain the rebalancing also shows how 
bitcoin dominance has given way to altcoins   in april bitcoin made up about 80 percent 
bitcoin of the fund the fund allocated just 17   to ethereum now bitcoin's dominance by 
market cap has fallen from 69 in april to 42   today and this is very common in bull markets 
i think there's more opportunity in altcoins   however don't get it twisted grayscale's largest 
product remains its bitcoin trust increased risk   means increased reward and it is a great sign for 
those coins when grayscale adds them to a trust   grayscale is a way where institutions accredited 
investors high net worth individuals can invest in   crypto just by buying a ticker so this is bullish 
for solana uniswap and all the other coins that   grayscale holds let's take a look at the current 
state of the market because things are looking   bullish bitcoin is the market mover bitcoin 
is now comfortably above the 21 week estimated   moving average this is what we like to see 
switching to the month chart bitcoin is breaking   out from its monthly range it is early but this 
is what we like to see with that being said   let's get into recent news of the day gary vander 
chalk's hand-drawn v friends doodles sell for 1.26   million do you guys like garyvee some people like 
them some people hate them well this entrepreneur   turned social media guru made 1.2 million just 
from doodling on pieces of paper and a napkin   and alliterating animals in brief garyvee's nft 
collection actually outsold that of andy warhol   and jackson pollock an auction took place at 
the famous christie's in new york on october 1st   2021 it obviously wasn't all of the v friends but 
just the ones that were at this auction the doodle   took vanderchuck just minutes to draw so 
it is impressive what gary vee has done   with doodling on a napkin garyvee is the 
michael jordan of doodling on napkins and   alliterating animals in my opinion because he 
raised the bar and changed the game and brought   all this money and attention into the space just 
like michael jordan it's easy to goof on garyvee   but this is impressive and obviously it's more 
than just doodles right the real story here is   why are the nfts worth so much it's because gary 
v and his community is worth so much he's really   people who buy garyvee's nfts he's doing a lot for 
them within the community giving them all sorts of   perks and he's really like leading this charge for 
community driven nft so it's interesting to see   it come this far i actually met somebody with 
a few v friends out of the bar the other night   uh it was pretty cool him showing me his 
nft collection anyways in other news defy   community blasts compound ceo for doxed comments 
did you hear about this compound founder robert   leschner is actually facing backlash from the 
defy community after posting a bone-headed tweet   so if you're unfamiliar with compound it was 
one of the original d5 protocols that really   started off the d5 craze it's a way for you 
to lend out your crypto currencies and earn   interest and apparently they paid out way too much 
interest recently leading the ceo to tweet this   if you received a large incorrect amount of 
comp from the compound protocol error please   return funds immediately to this address just 
this would have been fine however he finished   it by saying otherwise it's being reported as 
income to the irs and most of you will be doxxed   uh rather bone-headed tweet because this is not 
the spirit of d5 this is you know it really just   made compound users salty how much do you value 
the users how decentralized is this even anyways   he tweeted out later saying i'm trying to 
do anything i can to help the community get   some of its comp back and this was a boneheaded 
tweet slash approach that's on me luckily the   community is much bigger and smarter than just 
me i appreciate your ridicule and support anyway   comp is still one of the blue chips however you 
know this is the state of many d5 protocols today   you know trials and tribulations still early on 
in these projects and i think comp is going to   be just fine let me know what you think in the 
comments below in other news the sec has pushed   deadlines on four bitcoin etf applications 
to late 2021.

The sec keeps pushing this off   it will happen eventually and when this does 
happen this is going to usher in the floodgates   in that many people will feel way more comfortable 
buying bitcoin because of this overall this is a   great thing it won't happen overnight but this 
will happen eventually especially when we're   seeing the state of the bitcoin network doing so 
well in recent news covered by cnbc this is pretty   cool el salvador has just started mining bitcoin 
using energy from volcanoes very cool very cool so   this is you know volcanoes produce all this energy 
they're using the energy in a sustainable way and   this is actually their current account balance on 
bitcoin that they're mining from volcano energy   they at the time of the tweet have about 300 worth 
of bitcoin the president said we're still testing   and installing but this is officially the first 
bitcoin mining from the volcano node in other news   we mentioned this the other day i think it's worth 
repeating chain link cardano through a strategic   collaboration between chain link labs and input 
output hong kong chain link price feeds are being   natively integrated onto the cardano blockchain 
to enable cardano developers to build a variety   of d5 applications powered by secure oracles this 
is a win for cardano this is one for chain link   and it speaks to the fact that chain link 
is compatible with many many blockchains not   just in the ethereum ecosystem and you know 
that's pretty good for chain link holders i   i liked i love looking at on-chain analytics 
for different coins let's take a look at   dune analytics and their chain link dashboard take 
a look daily wallets with one chain link since the   token launch has only been increasing this is 
what we like to see wallets with one chain link   about half a million wallets with 1k links it's 
about 20 000 wallets with 10 plus links quarter   million and basically you can see the data right 
here if you're not looking at information like   this and you're a long-term investor you need 
to start there's plenty of great sources like   dune analytics there's missouri there's plenty 
of other ones and chain link is looking good   ethereum is looking good getting close to half 
a million individual eats burnt now burning   at a rate about five eighths per minute nfts 
decentralized exchanges stable coins play to   earn games all this stuff is great for ethereum 
in fact the amount of eth burnt since eip 1559   which happened just two months ago the amount of 
eth burnt since the launch of this would be at   about 85 by market cap rank if it was a coin 
itself and this will only keep going this is   bullish for ethereum you can i hope you understand 
this and culturally i mean ethereum crypto bitcoin   is breaking through in such a big way snoop doggy 
dog i keep a blue flag hanging out my backside   [ __ ] toe punks and he has a crypto punk with 
a blue flag obviously because he was part of   the crips really cool to see nfts ethereum 
bitcoin crypto in general breaking through   to the main stream that being said which coins 
are you looking at which coins are you holding   until at least the end of the year which coins 
do you think are undervalued in the space today   is it link is it solana or is it something 
maybe farther down the list is it a raven   coin is it a urine is it a flow if we go over 
to page five high risk high reward is it a just   a teller a beefy finance a wearable let me know 
in the comments below subscribe to the channel   appreciate you staying with us on the weekend here 
it's turning into a great year changed my mind

You May Also Like