Jerome Powell About to Trigger Cryptocurrency Bull Run in December 2021 (Crypto News)

all the right welcome back everybody to altcoin daily my name's austin in today's video i want to share with you the latest news involving ethereum involving bitcoin involving chain link in the metaverse as well as lower cap altcoins and even lower cap altcoins if you're interested in making money with cryptocurrency click subscribe we drop a video every single day demystifying this cryptocurrency market let's jump in our top story of the day involves who president biden has just selected to be the next fed chair president biden picks jerome powell to be the next fed chair which is par for the course because this is the exact same individual we've had for the last few years which to me is neutral bullish because jerome powell has been very clear that while he does want to regulate stable coins while he is working proactively to issue a cbdc in the u.s he will not ban bitcoin or support a blanket ban on cryptocurrency in the us interesting i am going to be checking the comment section to see what you think about this but just for a little bit more perspective let's head on over and get the opinion of cumberland's global head chris z cumberland is an institutional trading desk and why he feels this powell renomination is a net positive for crypto and also pay attention to the follow-up question where cumberland's global head chris c reveals what institutional money what cryptocurrency are they buying now watch this to ask you your opinion obviously the news of the day that we've been talking about all morning has been that of the renomination of jay powell as fed chair uh is there any read through for the crypto community on today's announcement sure you know i think the renomination of powell is net positive long term for the crypto industry uh he's gone on record as saying he doesn't intend to ban no assets and has taken a stance that uh the stable coin market could potentially use some additional regulation which i think are both positive if your goal is long term now as we peel that back a little bit it's important to note that paolo has had an accommodated policy uh historically which has led to 6.2 percent consumer price inflation year over year in october which is like a three decade high so if you're playing the the bitcoin trade from a perspective of an inflation hedge i think this continues to play out in that area what do the flows suggest um you have a unique window into how traders are positioning right now given that perspective what do you what do you suggest uh happens in the rest of the year yeah so this 58 000 level has seemed to have some gravity to it it was where we paused before the etf launch and pulled back after the etf rally and post these uh recent all-time highs at 69 000 is where we're settling again today from our perspective our institutional counterparty base seems to be buying both the the bitcoin and l1 names uh to the tune of about three to one in terms of notional terms the uh the only real selling we're seeing from our institutional counterparty base are on the d5 names we're also seeing some interesting uh options activity the the one week option uh calls are being sold but the longer dated options the december experience seem to be being bought by the market so it seems like the short-term profit taking back to these consolidation levels and setting it up for a bit of a full run to the end of the year wow very interesting so institutional money is buying bitcoin and layer ones like ethereum polka dot cardano solana etc layer ones at a three to one ratio but selling defy right now like borrowing slash lending dapps but cumberland still believes we will see a bull run towards the end of this year you heard it those are his words and again it's one thing to say it but let me prove it based on the news happening with altcoins and let me start with this breaking news as of today 5.5 million french customers can soon buy hold bitcoin and altcoins on the lydia payments app so this will be a huge on-ramp for customers and specifically french fintech lydia has just tapped bitpanda to let 5.5 million users trade crypto over 170 different crypto assets so if you are part of our french audience comment down below is this bien is this trebian what do you think but in a direct quote from bitpanda on why this french market this european market is so important this collaboration is fully aligned with our mission to bring digital assets into mainstream adoption and improve investment literacy in europe and beyond france is a key market for bitpanda and this is why we are currently opening up a local office in paris and building a local team to own the growth in this market all right pretty cool if you're asking the question well are more people or less people coming into this market over the next few months to me this suggests a whole lot more people to me and next up big piece of news involving the future of ethereum ethereum layer 2 total value locked tvl has just reached an all-time high and layer 2 tvl has more than doubled over the past couple months so like we've been saying adoption on ethereum isn't lessening adoption's growing right now and layer 2 analytics platform l2 beat currently reports that the total amount of value locked across various l2 protocols and networks have reached an all-time high of 5.64 billion dollars and we can see the visual of total value locked in eth2 scaling over the last 90 days clearly trending up and to the right hitting an all-time high and while there are several l2 solutions out there the three in the lead right now are as follows arbitrum has the lion's share of the l2 market with 2.67 billion locked up on arbitrarum or around 45 percent of the total the dydx decentralized derivative exchange is in second place with almost 1 billion in tvl and loop ring l2 dex is in third with about half a billion dollars however its own lrc token makes up most of its value locked either way any way you slice it while ethereum's price has sort of been consolidating this month the ethereum network and the layer 2 network is only growing bigger just imagine thinking that the ethereum community isn't working on scaling we can see all the l2 solutions right here eth is looking bullish and next up before we get to altcoins i do want to give a quick 60 second plug to sponsor of the channel ok coin okcoin is a global cryptocurrency exchange but is fully regulated in the us which i like and they are a better way to bitcoin join the fastest growing global cryptocurrency exchange with the lowest fees around and that's true they do have much lower fees than the competition and that's because they are a relatively newer exchange and they're trying to give you every single reason possible to join okcoin in fact we did an interview with their head of listings about five days ago i will link this interview down below in the video description great conversation on how they're able to have the cheapest fees on how they're able to list newer coins first link down below check it out and the final thing i do want to say is ok coin does have 100 percent fearless staking they will not take a penny if you use our link down below so check it out link down below and next piece of quick news for chain link they just put out an article titled what is the metaverse explaining what it is and also chain links role specifically as we see all these different blockchains and companies form their own metaverse so what is chain-link's role if the metaverse looks like the world we live in today it would be individual companies as well as centralized metaverse environments maybe like meta maybe like microsoft's metaverse environment they would be the cities blockchains would be the countries and chain link would be the infrastructure that connects them all in a secure reliable and decentralized manner so if that was unclear check this out great visual no matter how many blockchains have metaverses on them whether that's ethereum polygon avalanche harmony one binance solana wax etc as well as no matter how many centralized companies for metaverses whether that's facebook's meta microsoft etc chain link will be that connectivity infrastructure to make sure all the blockchains all the metaverses can interact with each other that's vital to have so we're going to need some connectivity and chain link already has the infrastructure provided for blockchains for companies and they're easily set up to provide that infrastructure for metaverses as well that's their words i'll keep you updated and next piece of lower cap altcoin news for royal nas and the chainsmokers join the 55 million raise in nft music platform royal and just for some background royal launched this summer by famous dj justin blau royal helps artists create and sell nfts but also offers a new business model where fans can invest in an artist's work and receive royalties in return so this is very similar to altcoin opulus and i think this is really cool just in general because if you're a fan that owns an nft a specific nft from these artists every single time a song streams a song sells and the artists make money you receive a little bit of royalty money as well because you bought ownership in those songs through the nft and now nas and the chainsmokers are joining royal as well and next piece of lower cap altcoin news for fear which is a horror play to earn gaming metaverse project fear's first ever in-game play to earn nfts have now launched for clocking hell play to earn players who build up their in-game fear balance will be able to grab the next range first so get earning and saving now in clucking hell as you can see right here the first ever in-game play to earn nfts interesting to see how this play to earn space is evolving and that is the video my name is austin and real quick announcement announcement aaron and i will be going live probably a few short hours later today a few short hours so so make sure you have notifications turned on we will be going live just for a hangout just because it's been a while so uh look forward to to live sesh later today all right see you tomorrow or later today [Music]

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