 Hello friends and welcome to another episode of the Market Report. I am your host Benton and we are joined again by our resident experts Jordan Finneseth, Marcel Peckman and Sam Borgie. Jordan uses his background in psychology and human behavior to spot all of the emerging trends in the crypto markets. Marcel Peckman applies his 17 years of experience trading derivatives options and futures to the crypto derivatives markets. Sam Borgie is a business editor at Cointelegraph where he brings a decade of experience in economic analysis and financial market writing. Fellas, are we back? Bitcoin bounce, what's going on this week? How are we feeling guys? Well, personally, I don't understand why everyone is cheering after 10% pump. Sure, we bounce from the cycle low, likely for good, but there's still a good room until you get some new investors' attention and inflow, so I'm not excited. I think everybody's just happy because everybody was saying that we're going to go down into bear territory, so the market's like, well, we'll do the opposite. And everybody's like, yeah, pull run back on. Woo! I don't know, we'll see what happens. Just slow and steady wins the race, folks. Yeah, overall, the trend is still down, right? That's the path of least resistance. But the great thing is that we may have seen confirmation that the bottom is in, which is really what everyone is looking for. So any kind of positive price action we're going to cheer, I was very happy to see it. But we should kind of pace ourselves and see how the next, I would say, 30 to 60 days play out. Exactly right. I think my opinion is the bottom is in, folks, so get ready for a wild ride for 2022. Today's show, we are going to bring you the debate of what is the best L2 blockchain today. So things have been reformatted for you, for your viewing pleasure. And so each member will have two minutes to walk through their particular blockchain L2 solution and present the case, make the case for why the L2 is the best in the game. We're also going to have Marcel walk us through what's going on in the markets right now. He's going to talk derivatives, he's going to talk futures, what he's seeing, especially on some of the bigger cryptos out there in the market. And don't forget, if you haven't liked and subscribed, go ahead and do that now. Like and subscribe, coin telegraph on YouTube. We're here Tuesdays at 12 o'clock every single week, bringing you some of the best knowledge in the game. And we're also going to be giving away a one month subscription this week as we do every week. And so we're going to be hawking the chat, making sure that we see those folks that are chiming in. Make sure you drop your Twitter handle in the chat today as well so that if we are making some good comments, we're going to pick your Twitter handle at the end as one of the winners. And so the first things first that we're going to get into today is the market news rundown. I'm just going to recap some of the biggest headlines of this week. And we're going to get things into Marcel segment, followed by Sam, myself and Jordan walk you through our picks and the cross examinations. So Danilo, if you want to jump into our market news rundown, let's go ahead and get this party started. All excited to see Bitcoin back above 40k. So hopefully we'll remain there for the future weeks, months and years ahead. Marcel is going to jump into some Bitcoin in Ethereum hot tips that you should be looking at when you're assessing your trades in the markets right now. So we're going to hand this over to Marcel, Danilo, run it back. Okay, Batman. So today we're going to focus on Ethereum, because for me, and I'm going to show you on the charts, the $3,000 level seems crucial for Ethereum to keep its momentum. So Danilo, can you show my screen please? So as you can guys see, Ethereum has been down trading for 90 days. And it's not alone here is following Bitcoins and major currencies. But we can see a clear breakthrough here happened on February 7. So we're now trading above $3,000. And if this break breakage confirms this, this, this line, it's going to start working as a support level, which is positive for Ethereum. But I'm not, thank you, Danilo. I don't like looking solely at price charts. I'm not a technical analyst. I like fundamentalist data back in it. So on one hand, we've been we are 40% above the $2.1,000 low couple weeks ago, but we're still 40% below the all time high. So the glass is really half full here. So what we need to do is check how retail best retail investors are positioned. And the best way to do that is measuring the futures perpetual contrast funding rate. So whenever retail traders are excited, the funding rate will go up. Whenever retail traders are bearish, the funding rate will go below zero. So Danilo, you can share my screen again, please. So we've talked about the perpetual contracts funding rate, which is the preferred invest retail traders leverage instrument. And we can see here that on October 20, it went above 0.10%, which means they were paying 2% per week for longs. So for leverage buyers were paying up to 2% per week. But over the past two months, the indicator has been slightly negative or near zero, which means there hasn't been any excitement from retail traders on Ethereum. So we have a kind of bearish data. But in fact, it shows us that the the sentiment has not yet flipped despite the 440% price increase. So moving on to on chain metrics. I want to see if the material network is being as used as it was in December or November, or if the $4040 or $30 network fee is causing investors to move to layer 2 solutions and competing networks. So the first data I'm going to check is from coin metrics. And you can see here that right now, the Ethereum network is transaction $6 billion per day. So Ethereum tokens, stablecoins, everything that is moving on the networks represent $6 billion per day on Ethereum that compares to November and December 10 to 12 to $13 billion. So we're 50% below what we had just two or three months ago. So first data from on chain is negative shows that the Ethereum network is being less used every month. But we need to confirm that whether it's that is specific from some application like oh, when you swap was the biggest debt running on Ethereum and now it lost, or if it's a generalized thing. So we move to that radar website. And you can check the 30 day activity for the most active debts on Ethereum. And you can see yeah, open see the NFT marketplace, number of active users went up by 40% over the past 30 days. Yeah, that's great. But you can see that all of the other applications on Ethereum, including Uniswap, Metamask swap, Polygon bridge, Sushi swap, they went down 30% in the number of users. So we have two on thank you, Danilo. So we have two on chain data showing me that Ethereum network is suffering because of the 30 to 40 dollars network fees. So unless there's a change on those data, and retail traders start to get excited about the price, I think they will see $3,000 as a potential bull trap. So we could potentially move below $3,000. That's what on chain data and the charts tell us tells us Interesting. So Marcel, when you're looking at things right now, are you thinking that we have to have retail in order to make the bigger moves upward, especially with East and Bitcoin? Yeah, that leverage is a big thing on cryptos. It's always been like this. retail traders love to leverage cryptos positions. And that's what causes the price volatility. So yeah, we could we could have an institutional investor buying $200 million worth of Ethereum, and the price is going to move up 10 to 20%. But if you need the price to raise by 50%, you need inflow of retail investors and new money coming in. Do you think that the fees on Ethereum are what's really holding retailers back retail investors back from transacting on the network? Yeah, Jordan. So two two things. First, the 30 to $40 transaction fees are causing them to move to layer two or competing networks such as avalanche, buy and smart change or whatever. And the institutional investors are getting tired of waiting Ethereum 2.0. It's been postponed for four years in a row. So they're abandoning Ethereum for other apps. And Marcel, would you agree that we really haven't had that retail FOMO since probably April of last year? It seems like retail never really came back. I mean, we saw prices recover into the Q4, but never really that retail driven rally that we saw early last year. Do you think that's still the case? Sure, compared to 2017, we haven't seen that huge amount of inflow of retail investors. But on the other hand, we saw inflow of institutional investors, which are much bigger and cause a bigger impact on markets. Market strategy, Tesla, we had KPMG from Canada, where you're located. So the more companies jump in, the more the retail traders will be confident. Well, if big companies are buying, I want to share with myself. So they follow. Very good stuff, Marcel. Thank you for your insights about what's happening in the market and what you should be on the lookout for. Folks, we appreciate you tuning in today. Make sure you chime in chat, tell us where you are tuning in from around the globe, where you're going to be giving away that one month subscription to MarketsPro that you'll want to get in on. So drop your Twitter handle in chat. If you make a nice little comment today, and we like what we see, then you might be a winner. So just be on the lookout for that. So first things first, we're going to get into this big debate for today. This is the battle of the L2s. Again, these are the explicit personal opinions of each person on this panel today. This is not paid advertising from any of these companies. This is where we actually think that some of these projects will head in 2022. So I am going to hand the floor over to Sam Borgie, who's going to talk to us a little bit about Loop Ring. Danilo, run it back. Alright, let's get this dog and pony show going. If we're talking about top layer 2 defenders, Loop Ring or LRC definitely gets my vote. And I think you should really pay attention to it if you're a new investor looking to capitalize on the L2 revolution. Basically, Loop Ring is a decentralized exchange protocol that utilizes zero knowledge rollup or ZK rollup to build secure and scalable DEXs and automated market makers. ZK rollup technology means Loop Ring has incredibly fast transaction speed and throughput, achieving roughly 1000 times the bandwidth of Ethereum. Remember, it's not a decentralized exchange. It's an execution system that facilitates DEX trading at lightning speed with near instant validation. So while everyone is focusing on multi chain DeFi, Loop Ring has already provided a layer 2 DeFi application that's growing on Ethereum and that's secured by Ethereum. So if you're a new investor looking at L2s, Loop Ring has a lot of advantages. First of all, it's blockchain agnostic, which means it's an open ended protocol that's not limited just to Ethereum. Loop Ring was also founded back in 2017, you know, for all you crypto OGs were back around then, Loop Ring has been established for a long time now and it was implementing ZK rollups long before they became such an industry buzzword. It also has a ring miner consensus, which improves the current DEX environment by giving you the ability to mix and match orders with the similar orders. That's huge for liquidity. Blockchain research from Delphi, I'm sure you've heard of them named Loop Ring as a top L2 contender for the DEX market. According to Delphi, Loop Ring trading is starting to scale, and it's leading L2 adoption. By mid 2021, Loop Ring was well ahead of other L2 DEXes in terms of trading volume, according to L2 DEX wars on Twitter. Remember, these are L2 DEX protocols, not necessarily competition with Uniswap. We're talking about the L2 here. In terms of the tokenomics, we've seen 1.3 billion token supply for an L2 that has so much capacity. I think that's wonderful for future price appreciation. And remember, Loop Ring represents the first time in Ethereum that protocol fees are both earned and distributed on L2. So for me, if you're looking for an L2 to invest in, Loop Ring should be top of your list, the top 70 project. Check it out. All right, let's get this, let's get down to business boys. We got a lot of questions for you today, Sam. I see Jordan is chomping at the bit, Marcel's chomping at the bit. Which one of you two want to jump in here first? So you said that like 2017 OG, Loop Ring's OG, how come it has a lower TVL than both Benton's pick and my pick when it's been around longer? How are they going to get more TVL? Come on. Well, because you're focusing on the wrong type of TVL, right? We're comparing, if you want to compare Loop Ring, you got to compare it to other L2 DEX protocols. When you compare it to, you know, ZKSwap official, Diversify, LeverJ, it tops the list. So you take a look at trading volume and what it's doing for the Ethereum network. That's where your focus should be on. If you want to just take a look at DeFi Llama and what the TVL is, that's a separate subject. So it's important to know what the competitors are. It's not necessarily competing necessarily just for TVL. You got to take a look at how it is facilitating DEX trading and execution secured by Ethereum. Yeah, so I'm going to jump in here real quick. So I mean, it's got all the bells and whistles. Okay, it's great. I don't give a rip about how the iPhone is constructed or created, but does it work? And so my question to you is, if I'm an end user just looking to make my life easier, whether that's in DeFi or trading or whatever, why should I pick Loop Ring as my L2 blockchain for this kind of stuff? Because the trading volumes speak volumes, we're seeing tremendous uptake in growth. It's settled over $500 million in trading volume so far. All of that happened without users paying gas fees and all secured by Ethereum. That's the whole point of it is that we're not necessarily going away from Ethereum here. It's all secured by Ethereum, but providing a much more seamless DEX trading experience on Ethereum. That for me is a huge value proposition, you know, without venturing into degen territory. Some of these, you know, DEX is that we don't know what the hell they're doing. This is all on Ethereum. It's your peace of mind is secured in that way. So is it just like a meta-sponsor type of CK? Is it a one-trick pony? Do they only do DEXs? I mean, you want to call it one-trick pony. I consider it to be focused on what its actual goal is, which is DEX is an automated market. It's not even a one-trick pony because according to debank.com, it has less than 400 users, active users per day. So it's not even a one-trick. It has no trick. Sorry. Yeah. Well, as you can see, Sam is absolutely thrilled about some of those comments. You know, this is facial expression just says it himself. He was pretty furious. But I don't know, man. I think, in my opinion, like loopering, it sounds like they're doing cool stuff, but like, you know, at the end of the day, you know, it doesn't work. And can I get on there and make my life easier? You absolutely could. I think I'll give you your final rebuttal here. Yeah. No, I think, you know, the fixes in, I think my internet connection was cut, I think. So no, I think I've made my base. You see the suppression that's happening from these, you know, bigger L2 protocols, they want to keep you away from this protocol. So just invest. He's waving the flag. I see. Good go, Sam. We appreciate you sharing your insights about loopering. Interesting project, I have to say. Shout out to all the the folks that have been watching for multiple weeks, friend of the show, Luciana, CalToro. We have tons of folks I've seen in here all over again. And we appreciate you joining the marker report. Sam has stated the case for loopering. I will now state the case for Polygon Network. And so, Danila, why don't we jump into my segment where I'm going to win the hearts and minds of all the viewers today. Alright, folks, it's time for that layer two solution that's going to make you feel good when you go to bed at night. And that is Polygon Network. Rather than being just a simple solution, Polygon is intended to be an entire platform for launching interoperable blockchains. So this means that not only does it have to involve the network for which it was built on, Ethereum, it also has room for other blockchains. So we're talking expansion, folks, not just one narrow lane. Not to mention Polygon has a transaction throughput of 65,000 transactions. I think we talked about Salon and Veloz previously that were upwards of 80,000. So you're talking high transaction volume speed for this L2 solution, which most other chains on L2 also provide. Now the proof is in the pudding here, folks. Polygon has recorded a billion transactions last year with just over 2.6 million monthly active users generating 3 million transactions per day. That is a lot of transactions, folks, and which it also claims that more than double the volume of Ethereum. So even though Polygon is building kind of around the Ethereum network, Danilo, if you wouldn't mind just pulling up my screen for just a second, I want to give I want to give a picture here. And so if this in the middle here, Ethereum, Polygon is building around this base layer of L1 Ethereum. And so it's instituting the ZK rollups, optimistic rollups, enterprise chains, it's got plot polygon plasma chain polygon POS standalone side chains. And so it's not only just one little narrow lane, it is encompassing the entire Ethereum ecosystem. In my opinion, you got to go to where the money is. And that is where everything is right now is in Ethereum. So if you're building around that ecosystem, I think that is going to be the move for the future and why polygon will outperform any other L2 chain in 2022. I'm going to drop the mic right there. So like, there's been a lot of issues with polygon lately, and there's some like stealth edits to their code, like, don't talk about in the background, this is a really serious problem that we just fixed. How many more of those little like surprises are we going to get with this project, man? You know, it's, it's a crypto space, man. This is a new evolving technology. There's going to be errors. There's going to be missteps. But you know, in my opinion, it's all about how you handle those missteps. And, you know, polygon has great PR. They have great marketing. And as you know, marketing minded person, so you know, I can appreciate how they've handled address these things. And even though they're going to probably encompass many of these issues in the future, just like any other blockchain. Well, so Benton, what exactly is going to happen to polygon after or when Ethereum 2.0 is launched? That's a great question, Marcell. And I'm so happy that you asked that because had I been on the polygon dev team, I might be able to give you a little bit more insights to that. So because polygon is proof of stake currently, Ethereum is going to be moving from proof of work to proof of stake. I don't know. I mean, like if I had to guess, it's just like, they're going to become even sweeter. It's going to be POS times two, you know, like, I don't know. Well, let's just say POS stands for many other things as well. Just put it that way. So listen, the reason why we're here, Benton, is we want to look at, you know, gains. We want to make money, right? Okay, if I look at polygon, I take a look at its circulating supply, take a look at all the gains that were made in the past year. I'm an investor and I want to get in on this. Am I really going to purchase this thing at two buck? Like, is there really much more significant gains to be had for this type of project and pumped so heavily over the past year? It's got you all riled up and excited. But as a new investor, is this really going to make me that type of return? Yeah, I'm going to tell you why, Sam. Let's pull up the chart here. So we're looking at a daily chart here. You can see kind of what I've placed as a little bit of a buy zone here just under two bucks hovering around that 150 mark. So for me, I think, yes, if I'm looking at this as an investment, I also need to understand what's going on with the ecosystem. And so when I'm looking at a chart like this, you can see the arrow of my projected price of polygon here did not necessarily hit. But we saw the inverse head and shoulders down here and we saw the price pump a little bit weeks after. I think there's a lot of room for polygon to continue to grow. I think there's maybe a ceiling probably closer to $3 right now in the short term. But if I'm looking at this as an investment, I think I'd wait for another dip closer to that maybe 150, 160 range to potentially get in and then ride that back up to a $2, $2.50, but looking at that ceiling about $3. And so when I'm looking at things like that, polygon, for example, is how I would I would assess that. Did we just lose Bantu? Oh, there he is. There was a couple weeks ago when I couldn't do a transaction on polygon. Like it was just like, What was up with that, man? How are we going to have to worry about that? Yeah. So when when I talked to, you know, the polygon team, they were just like, Hey, listen, man, we got a lot of stuff going on the back end, just like every other blockchain. And they were just like, Yeah, we're going to we're going to put a halt on things. So, you know, I think at the end of the day, it was like, stuff happens, Jordan stuff happens, blockchains get congested. Okay, it's not perfect. All right. If you're looking for the perfect blockchain, you're not going to find it. That's true. Except for Metis, of course, but well, if you want an L2, you know, we got you looping here, right? So you guys are, you know, really, really pitching hard today. Those are great questions. Any further questions about polygon today? Okay. All right. Well, that was a great, great cross examination there. I'm going to hand this over to Jordan, and he's going to talk to us about a fairly new L2 solution called Metis. So, Danilo, take us away. All right. The project I chose to help perform other Layer 2 protocols in 2022 is Metis DAO, an optimistic rollup protocol designed to help businesses and other organizations migrate from Web 2.0 to Web 3.0. The reason I chose Metis as opposed to other viable options is due to the protocol's focus on helping new or migrated projects establish a DAO structure, decentralized autonomous organization structure in the framework upon launch, which enables a host of other capabilities that helps establish the project as a community-oriented one. One interesting feature on the Metis protocol is the creation of the NFT for each unique user that tracks their activity and collaborations to provide a metric known as the Reputation Power, which is to help establish a level of trust for that specific user. In the anonymous world of the internet where businesses or interested parties need to know if they can trust another user they are interacting with, RP helps to provide good actors with a way to prove their trustworthiness and attract collaborators. This can be applied to create Web 3.0 versions of all manner platforms including Reddit-like social platforms, open source developer communities, NFT platforms, gaming communities, freelance communities, DeFi protocols, and crowd funding platforms like GoFundMe that aren't beholden to mainstream financial institutions or oppressive moves by the government. Metis also enables the creation of decentralized autonomous companies or DAX, which are designed to function as operating companies and allow for payroll, HR, financing, project management, and organizational roles, along with the typical capabilities of DAOs. The Andromeda Layer 2 Mainnet for MetisDAO launched on November 19th and the protocol has seen tremendous growth in the number of projects that have launched on its network, which have helped increase the total value locked on Metis to 546 million, making it the third-ranked Layer 2 protocol by total value locked behind Arbitrum and DYDX according to L2B. Overall, as mainstream society and businesses look to begin the migration to Web3, MetisDAO offers the best framework to getting an organization or community up and running on the blockchain while also including built-in mechanisms for trust with optimistic governments and reputational power on-chain tools designed to help facilitate collaboration and the ability to process transactions quickly and inexpensively. That was awesome. Can we start a punching momentum? For sale. Go ahead. I'll start light. It looks to me that MetisDAO right now is semi-centralized. I heard that there's a Metis ranger system shadow for sometime in 2022, but why should investors trust their tokens to MetisDAO right now if it's centralized? Everything listed today has been centralized. Whether it's polygon, background knowledge, code changes, I don't know what's going on with looping. It started off MetisDAO. From the beginning it's focused on becoming a decentralized autonomous organization built in the community governance features. If you're looking to get in early on a good leadership program that already is thinking about community oriented development, it's not just a marketing employee. We're going to do a DAO and everyone is going to have their vote. I think I saw one of your questions over there with the whole Web 3 thing. Everything exists on the internet including all these businesses and they're going to be migrating Web 3. What is Web 3? Web 3 is a technology basically with the internet. We're upgrading the internet by including blockchain technology. This is trying to incorporate it so that businesses and companies right off the bat can come in and establish their corporation, their entity, have collaborators within their ecosystem that can interact with each other and not just have a basic platform or basic blockchain platform. It's focused to create communities and that's what it is. It's what it is. The advice from the advisory board and that code is behind the project. This project has got some serious tracking. I don't care whose mom's on the project. For me, this whole Web 3 stuff is very gimmicky. No one really knows what it is. You're going to invest in a project that talks about Web 3 and they So have they even tried to actually explain what they mean by Web 3 or is it just as vague as it usually is, Jordan? That's a very specific question. I have to go look at their documentation to see if they've outlined what Web 3 is. I'm providing what my definition of Web 3 is and how this platform incorporates that into migrating everything from the current siloed nature of the internet with no security to this blockchain-based thing in the future that's developing. I mean, so isn't there just going to be this giant web of L2s that just coexist in the future or are projects possibly going to fizzle out over time? I think they'll fizzle out over time just like everything in the normal world. A, 50% of businesses fail within their first year, so 50% of crypto products will fail easily, easily, easily. So those projects like Loop Ring or Metis that have been around as long as have a higher chance of failure as opposed to Polygon? Is that what you're saying? Loop Ring is around 2017, maybe. I think newer emerging ones that actually develop products that fit what the society needs to help it evolve into Web 3 are the ones that are going to get picked up. But you know, okay, long run? Okay, I'll go back to what I said a couple of you shows ago. Like whatever chain is eventually the chain in the future, it ain't going to need Layer 2. It's going to be one layer that can do everything that a blockchain should do. And then we might be getting somewhere, which is why it probably doesn't exist yet, in my opinion. But all these other ones are kind of getting as close to that goal. And maybe one of them will morph into that. We'll see what happens in the future. But Metis now is a key to help businesses migrate into the future blockchain-based Web interactions. Give me one reason why I should look at Metis as an investment. It's a really low token supply, lots of promise coming up in the future, and it's offering a very good use case for businesses in society. Three reasons, but I'll take one of them. All right, any further questions for this cross-examination today, folks? I'm done. I just want to say about WebTree that the internet depends, relies on Amazon Web servers and oracles and the large data centers. So I agree with Elon Musk. I agree with the Twitter guide with the large bird. Because we cannot have WebTree for good until we have a really decentralized internet back end, which doesn't exist right now. So for me, that's just blah, blah, blah. Excellent insights, Marcel. Friend of the show, Luciana chiming in. I don't care whose mom is on the project. Quoting Sam Borgia. That was great. That was a great line. Awesome. All right. So the next thing we're going to jump into today, make sure you're voting on the poll. The poll is live. Make sure you vote polygon, Metis or loop ring. And today, I think it looks like we have quite a few folks in support of Metis in chat today. Jordan, I think maybe drop by their Discord community. I don't know. Make sure you vote in the poll. That's going to be live right now. So make sure you send us any kind of questions that you have. Marcel, do you want to say something? No? Okay. We're going to jump into markets pro next. I'm going to show you the top two movers from this week. Let's go ahead and jump in. All right, folks. Newsquakes are automated alerts that instantly notify users when market moving events happen. That's what happened this week with Sandbox. Did you see it? Danilo, can you please pull up this chart? You all are going to be shocked at what happened with Sandbox this week. So on January 4th, an announcement came in that the token would be listed on Kraken. Thanks to that Newsquake alert, markets pro subscribers were able to spot this move very quickly. So Sand's price popped up immediately from $3.52 to $3.78 in 12 hours. When that initial momentum began to fade, a market-wide bullish trend kicked in. And in recent news, Sand has bounced harder than most other altcoins climbing all the way up to 466 in the next one and a half days. And so if you're able to catch this Newsquake all the way up, you were able to look at a 32% gain. That is big time. You love to see that in these markets, especially with this relief bounce happening as of recent. So our next token that we were watching this week using the markets pro platform was Quant trading on the ticker QNT. And for this particular coin, it set off some alerts on the Vortex score. And if you're not familiar with the Vortex score, it's comparison between its current market and social conditions and those in the past. So an 80 score indicates confidently bullish. And conversely, a low score indicates a historically bearish condition. So on February 5th and 6th, QNT supported a stretch of Vortex scores in the high 70s and low 80s for more than a day. And so when we saw QNT take off, it shot up from $134 all the way up to $158. So we see that green line. That's the Vortex score. Hit that 84. Love to see it. You see that white trend price line that moved up shortly thereafter. That's why you get markets pro. I love using this platform. I wish everyone could use it. And that's why we're going to be giving away that one month subscription today so that you can start using getting on trades like this. If you haven't dropped your Twitter handle in chat, go ahead and do so now. We've been watching those folks making some good comments in there. I think we have a few runners right now for the top comments of the day. And so let's go ahead and do a like and subscribe, right? Everyone like and subscribe. Cointegraph YouTube. Make sure you're here Tuesdays, 12 p.m. And we need to pick our winner for the giveaway today. Let's see. Who do we spot in chat today that we want to pick as our winner, guys? Well, they got to drop their Twitter handle. Deepak over there is dropping it quick. I've seen him drop it a couple of times. Drop those Twitter handle, folks. We're going to pick winners for the markets for our subscription. So make sure you drop it in there. And then I think our poll is going to end soon. Adrienne, how much time do we have left on the poll? We got a few minutes. All right. I can't see it live here, but I'm assuming polygon is winning. Like I want to draw like Marcel, like I think what's what's going on now is that nobody really knows what's happening in the whole system. Like our whole planet and the internet is evolving. And I think we're trying to like I always joke about trying to fix the theorem as a running car on the freeway. And they're trying to change one of the wheels. We're trying to like upgrade the internet while 4 billion people around the world are using the internet. And it's just like it's going to be a complicated S show until like the technology really gets hammered out. And that's why I like these debates. I like to see so many viable layer two projects out there because it actually shows the desire for developers and people out there to actually solve this problem and improve what we're doing as humans and how we interact across the world. So I know it's kind of a shit show and it's all over the place, but it's a fun journey in my opinion. I understand your point, but when you have a TVL of 10 billion dollars or more, you don't want to do those kind of change. And the key room right now has over 100 billion dollars on TVL. So the best way, in my opinion, is do what Bitcoin is doing. So create those additional things on layer two and the base one layer doesn't change at all. So it's backward compatible. So I think Ethereum is kind of taking a huge risk by doing that, by doing the change as we go. And that's why I see avalanche and tantalism and polygon and so many layer two solutions and competing chains gaining ground because people want safety. They don't want doubts when we're talking about 10 billion TVL. Do you think that's why Cardano? I know everybody makes fun of Cardano, but that's why they took their approach of like, we're not going to have anything on it until we get a figure. No, I think they have no clue what they are doing and they're just making up as they go. Well, folks, the poll has concluded and the shocking winner today, come from behind winner, Polygon. It was a no-brainer. It was a no-brainer. Everyone watching at home knew it. We knew it. I knew it. Everyone knew it. Polygon took this one home today. 56% followed up by loop ring. 28% Metis Dow came in hot in third place today. Jordan, I think you made a strong case. Same thing, Sam, I thought you made a strong case for loop ring, but I think Polygon, the people have spoken. Polygon seems to be the L2 for 2022. Any closing thoughts here? I'm going to hand this over, Sam, closing thoughts for today. Simply, for me, I'm optimistic about what's happening from a price perspective over the last week or so. Again, if you're into Bitcoin and you're hobbling, don't make any rash moves. We're off the lows. Things are looking good, but it's going to take some time for the market structure to recover. So overall, I'm still quite optimistic about 2022. But again, slow and steady wins the race, and let's not panic. Marcel, closing thoughts. I have nothing to add. If you heard Sam, if you didn't, just go back a minute and we heard what he just said. Why is worse? Jordan, closing thoughts for today. Yeah, I think I'm going to go with a whole five-year cycle and think that we're finishing up the cycle that we started last year. I'm banking on a one-good blow-off top in this year, and then bear market. Boom. But yeah, so take your profits if that does happen. If not, hopefully it just extends on longer, then I'll be happy with that too. But blow-off top to bear market. Woo! Let's go. Who has profits around here, man? I'm down 20%. Yeah, man. Exactly. Well, optimistic bounce. Let's see what happens in the weeks ahead. I am patiently and cautiously optimistic that we will get to higher levels in the months ahead. Winner for today, One Month Markets Pro, is going to be Deepak. Deepak, thanks for chiming in today. You are going to be our winner. Make sure I saw your Twitter handle in here a couple of times. You were chiming in today. Love to see folks interacting. We're there for that. We love that stuff. So Deepak, we're going to be sending you a message via Twitter to give you that One Month subscription to Markets Pro. And if you wouldn't mind just telling people, how do you like it? Because Markets Pro is the premier trading platform of Cointelegraph. We'd love to see it. That's going to do it for today. We hope you join us for next week. This is a fun debate, L2s. You're going to want to stay in tuned for what we have going on for our next debate. We love you all. Thank you all for joining. Until next time, over and out.