 Welcome to Digital Asset News, the top stories in crypto and a big amount of bite-sized pieces. So today, just like the thumbnail suggests, everything is moving along in the crypto market, but it's kind of odd because everything else is going down. So we're going to take a look at some great stories, some great news that Cardano smart contracts are coming into play. Also, PayPal is moving into the UK and expanding their reach. Kyber is integrating with the Avalanche network. And then we're going to wrap it all up with a little story about Nigerian currency, the US dollar and Bitcoin, and how I know for a fact that we are extremely early. So let's, we'll take a look at all those things. But first take a look at what's going on in the market. So today, as you can tell, we're in a different part of the house. We're just moving around. But what we have as far as the market itself is, it's down a little bit. We're down almost 3% for a 24-hour period, but 2.12, not too bad. And then Bitcoin prices around 47.5 somewhere around there. And then for the coins themselves, I mean, everything is just down across the board. There's no real winners today, 24-hour change, everything's down, except for Dogecoin 0.59%. Watch out, amazing. Even Cosmos 1.65. And then EOS for some reason is up 7%. So good for all you EOS holders that is myself included. I still have that stuff. I don't know why. But that is what's going on in the market. And what's surprising to me is just what's going on and then how everything looks and then how all the different stories that are coming out are just fantastic. So we'll start off with this one. We're going to talk about Cardano and their smart contracts and just how they've actually been able to really get a foothold in a very short amount of time. So the first thing we'll talk about, look about is this. And I always thought this was funny. It's a nice little meme. It says, these smart contracts from Cardano, are they in the room right now? And I always laugh when I see that, even though I was holding Cardano. So that was a pretty funny joke. And then of course, this is from Charles Hoskinson. He's like, yeah, yeah, they're here right now. So as far as like Cardano holders out there, me, you, and all the different people out there, we've had to go through a lot of different negativity, we should say, as far as Cardano getting things ready. But here we are. And in a very short amount of time, we've got 100 smart contracts have already been implemented in a very quick and easy fashion in the last 24 hours. So what's going on here? And this is a direct quote from Charles Hoskinson and he states, the focus is now on improving the platform further and ensuring that Cardano is adopted by corporations and governments. And they're working hard for Africa. And that's why I'm working closely with World Mobile Token and how they're going to get telecommunications hopefully in a different areas of Africa. They've already got them in Tanzania and different areas. So that's what I like about that project. But he states this, in less than 24 hours, over 100 smart contracts have already been run. So I don't know how it worked out with Ethereum back in 2015, 16, 17, when they got their smart contracts rolling, was it this fast or not? But it really doesn't matter, because Ethereum is so far ahead in getting smart contracts done. But this was the whole thing with Cardano to actually get things done in a little bit different fashion. And we'll see how the developers work it out. But then this was also more great news is that the likes of Polymarket Q and Polygon co-founder Sandeep Nawell lost the bet. And now Hoskin wants to put their money. And what this was, I thought this was funny as well, is that people were saying Cardano is a scam. It will never run anything. And we're going to bet X amount of dollars. It'll never happen. And to me, you have to put your money where your mouth is. I've actually have a bet right now that Voyager will hit $30 by the end of the year. Now, it's one of those predictions that's a little bit far off, but it's one I'm going to stick to. And with this one, if you say it's going to happen, it doesn't happen, you got to pay up. And that's really what it comes down to. So as far as like good news, I mean, for Cardano holders, it couldn't get much better right now. And even though it's doing so well, of course, what do we have with the price action? Cardano down 3.5% to $2.36. So again, pretty sure we're early. Let me know what you think about that in the comments section. Let's move on to our next piece. We're talking about how PayPal is going to allow the UK to buy and sell Bitcoin, Ethereum, Litecoin and Bitcoin Cash. For some reason, not a big Litecoin fan, but maybe you in the comments section can persuade me otherwise. So San Jose based tech giant PayPal announced that all its eligible customers can now buy, sell and hold crypto in the UK. We've already had this in the United States. They were supposed to roll it out globally. I think this is just part of their plan. But the big thing to me was that it's not just about being able to buy crypto, but it's actually being able to use crypto and they were supposed to roll this out globally to all their merchants, which was an additional 300 million different individuals and companies that would get actually use crypto, which would be Bitcoin, Bitcoin Cash, Litecoin, Ethereum. Not only have they done that yet, also they were supposed to allow us to custody our own crypto as far as like being able to transfer our crypto out of the wallet into our third party wallets. This was written on May 27th, 2021. And that still hasn't happened yet. So we'll see if it actually does. And that's the big thing with PayPal. It's a great thing they're doing and bringing about mass adoption. But if you really wanted to, to really get into actually the whole power of what crypto and digital assets do, you have to let people custody their own cryptocurrency. Because right now they're not holding crypto. They're just holding IOUs. And that's not what this was designed for. So again, another great story that hasn't really moved the market too much. And we can see again, Bitcoin down negative 1%, Ethereum down 5%, Bitcoin Cash negative 1.8, and Litecoin probably down negative 4.82. So again, more great news and definitely happens. And to really get to the point of that, as far as like great news and what's going on, you have to remember that it's not just because there's great news, things are gonna go up all the time. It's because sometimes there's just more sellers than there are buyers. And that's really what it comes down to. Sometimes it's just whales moving things around. Sometimes it's just some people just go, you know what, this isn't the time for me or institutions kind of break apart. So when we take a look at these stories, they are good indicators of where things are going. But they're not going to happen today next week or next month. But I can tell you things will happen. So on top of those great stories, here's another good one. Kyber Network launches with Avalanche 5.8 liquidity mining program. So what it states here, I thought was pretty interesting, was that Kyber aims to enable dynamic fees and higher capital efficiency for DeFi users and Avalanche. It's putting up 5.8 million in liquidity mining, a common tool for DeFi projects. Kyber has already launched on dynamic market makers, Ethereum, Polygon, and Binance SmartChange. SmartChained. And then the Kyber co-founder, CEO, Loylu says this, at the end of the day, whichever ecosystem has the growing community, we're going to be there. So really, what it states and makes a lot of sense is that, look, if you got a lot of community members, we're going to be there and we're going to add liquidity and we're going to allow them to gain yield for DeFi farming. So it makes a lot of sense that they would go to these ones. I wonder why they haven't gone to all of them. But hey, there's only so much liquidity to go around. And then also Thursday saw the announcement of a 230 million investment led by Polychain and 3Rs Capital to provide liquidity on Avalanche based DeFi platforms. Again, more fantastic news. And again, Avalanche down 4%. But 35% for 7 days, so not too bad. And then on top of that, when I take a look at Kyber network, the thing I always think about is, well, first of all, what is Kyber network and why do we need it? And what does it really do? So this was from Gemini.com and it just states two types of trades. One is, and this is all for Kyber network, you send your ETH to the Kyber network smart contract. The contract then queries all of its reserves for the best ETH to basic attention token exchange rate. Contract then sends ETH to reserve with the best ETH to BAT. Finally, that reserve sends you basic things. So basically, just like Uniswap, right? It's going to go through that, it's going to do its own thing. And then it's based on Ethereum. So when I was reading, I'm like, oh, so everything's based on Ethereum, but what if you don't use or aren't the trading pairs aren't Ethereum based? Well, it states, let's imagine that you want to trade BAT for DAI. Since you're not trading directly in ETH, some additional steps are required. You send your BAT to Kyber. Contract queries the best BAT to ETH. Contract sends BAT to with the best BAT to ETH exchange rate. The reserve then sends ETH to the contract, the contract then queries all of its reserves. The contract then sends ETH to reserve with the best ETH to DAI exchange. Finally, that reserve then sends you to your DAI. So it sends you DAI. So when I'm reading this, I'm like, do we really need to go through all these steps just to exchange two tokens? It just seems to me kind of ridiculous and just makes me realize that, man, we are super early to all these areas because for the DEXs that are going to come out on top of these platforms that are based in smart contracts, I don't really think we really need this type of thing. I mean, there's always something that I could actually improve it, but down the line, do we really want to jump through all these hoops and just stay on Ethereum just to get the, because everything's based on Ethereum? Or can we just kind of branch off and do our own thing? That will be the big thing. So my personal opinion, I just don't understand Kyber network and what it's all there for. Maybe I'm wrong. Correct me in the comments. But on top of that, if we take a look also at not only Kyber network, let's take a look at the price and all this great news down 3%. So again, great news doesn't really equal too much these days, because we're just early. And then lastly, we're going to finish up with Nigerian currency. And I'm not going to read this whole article, but I found it interesting that the Nigerian currency plunges a new level of 570, which is 10% of the value lost under 30 days. And what's going on here is just like most currencies around the world, or not most, but some currencies around the world, they're just dipping in their purchasing powers dropping. And then the big thing that I took from this was this, there was an investigation by the daily trust found. And some people in corporate entities in Nigeria are now saving their fortunes in dollars, which doesn't make much sense to me. I mean, I understand because we're talking about stores of value. So the dollar, I mean, is okay. But if you're talking about the store of value, but take a look at the actual purchasing power, as the actual increase in circulation goes up, the purchasing power goes way down. And you can take a look and this is back in the 1970s, but I've got another graphic shows all the way back in the 1920s and 30s, or 1930s. The purchasing power has decreased by like to 5% of what it actually was because of the fact that the circulation is going up. And in its states, I wrote this in to remind me, as of February 10th, 2021, there was 2.05 trillion worth of Federal Reserve notes in circulation. That was February 10th. I can guarantee it's more than that right now. So we take a look at the dollar. These people in Nigeria are putting them in the dollar. Why? Why is that? It's because what they're used to and the only thing they really know, because when we take a look moving forward, everything that is new as far as innovation, it's not going to make sense to people and first of all, they're going to fight it. Here's an illustration from the 1900s, where they were talking about how electricity was going to be the downfall of civilization, and it was actually going to be more harm than what it was worth. Now, who actually put this propaganda out? You can guess yourself. There's a lot of people who don't like innovation and they will stop, but nothing to stop that to keep the status quo. So on top of that, let's move forward to the actual internet. And the internet itself, I was around when that was actually created. That was the greatest thing ever. But then you'd see articles like this, the internet may be just a passing fad as millions give up on it. And that was the thing when we got it, we thought it wasn't going to last that long. We just thought, well, it's a great information index, but that was about it. And now here we are. And then even take a look at this, even so-called experts will come on and say, that'll never work. So this was a story about Jeff Bezos going to Harvard Business School and what they told him. This is in 1997. Jeff Bezos flew to Boston to give a presentation at HBS. He spoke to a class taking a course called Managing the Market Space. And afterward, the graduate students pretended it wasn't there while they dissected the online prospect. And this is what they told him. They said, hey, man, you seem like a really nice guy. So don't take this the wrong way, but you really need to sell Amazon to Barnes & Noble and get out now. And that's what they told Jeff Bezos. And he's like, well, I think I got a different opinion about that. And if we take a look at that and just extrapolate that out, how do you think Amazon did? Pretty good. But I really want you to take a look at the stock price right now of Amazon. If you just zoom in to what it is, like we sometimes do, we zoom in at the price, like I just did multiple times. We can see that actually the stock market price for Amazon today is down. Oh, it's awful. Let's take a look at five days. Let's take a look at six months. Let's take a look at year to date. Still doing pretty good. How about a year? Not too bad. How about five years? Way better. Let's take a look at the max. This right here, if we go back into 1998, the stock price, 747, and then there was this thing called the dotcom bubble. This was in $99, $64. And everybody was like, I'm a genius because I invested in Amazon at 93 bucks, 100 bucks. And then when the dotcom bubble burst, just like we see these cycles as far as crypto and digital assets, look at the price now, $16, $14, went from 100 bucks to 14 bucks. If you would have held on to Amazon, you know what you've been called? You're in a bubble. That'll never work out. That'll never happen. It'll never take shape. And look what happened to Amazon. And it's the same thing with cryptocurrencies and digital assets. So look, a lot of things to go over today. But that is it. So if you like the video, first of all, give it a thumbs up. Give it a like. If you stay with me all the wind, all the way to the end, I appreciate it. Thanks so much. But that is it for today. Thanks so much for watching. And I'll see you on the next one.