 Hello everybody, welcome to the Thursday live stream is just the thumbnail title suggests we're gonna take a look at What's been going on with Ethereum and the Dan Coon upgrade? And I have to tell you it's amazing to me just how fast we write something off and the crypto space everything moves so quickly But I tell you this is one of those upgrades that actually did what it said it was going to do before we jump into all That stuff we talk about that. There's a couple of things just to go over real quick first of all I just got this when I was putting up this video I thought it was interesting of how YouTube is combating Artificial intelligence and AI and everything that's gonna actually happen as we roll into this next presidential election and everything in between It asked me a very simple question Does any of the following describe your content make a real person appear to say or do something that don't say or do? Alters footage of a real event generates a realistic looking scene that didn't actually occur I think this is a good first step But of course people can just lie about this and go on the question I have is and this is the first time I've ever seen this So it was giving you like a little peek behind the scenes of what's going on with YouTube The question I have is when people aren't a violation of this will their channels be taken down? Will they have strikes against them how many different strikes? I'm sure it's in terms of conditions It's just interesting to me to see that and I think it's a good thing moving forward But again, let's see if they can actually combat that because they've done pretty bad With everything else as far as scams and then also before we talk about the Dancun upgrade We did a nice little show today with me guy and Ben as usual on Thursday And we talked a lot of plethora different things and alt coins What's happening in the crypto market and where we're going from here? So I linked that in the description. Please check that out over at coin Bureau clips, but the story today is Fees now I have to tell you I'm not a fan of the theorem and the fees that are going on Especially with layer ones, but over the last couple of days I would say honestly is I've been a little bit more leaning about what's happening, especially when we talked about yesterday We took a look at taking us DC from Coinbase and transferring it to a wallet and it was essentially free It was point zero zero zero two or something like that Depending on what rails that you used and if you're unfamiliar with what I'm talking about Go take a look at the video yesterday or you can watch The NFA live show actually talked about that again in that video and it makes it's essentially seamless So the whole thing comes down to is because of this Dancun upgrade So I have to give it to the Ethereum Ethereum Foundation and what they were actually able to do so this is what we have and Let's see. Let's see. Let's see down here Enabling Dancun's near elimination of gas is a novel data storage solution called proto dank sharding Which is powered by blobs. This is how it all works blobs allow layer 2 data to be stored on chain for a not forever But a temporary period about a month This was only previously available option Which was taking all that data having it there forever and ever having it get scrubbed and of course when you do that It kind of bloats everything else up as far as the chain and then it makes it a little bit more expensive So now they're using this blob architecture and seems to be working out So far so good and this is from Aurelius BTC says hey Look at this. These are the fees that are going on and I remember, you know months ago Using I didn't use opt-in is I use Arbitrum and the fees were high It was like 30 cents or more I'm like this is the future of finance and I had to go through all these different bridges. It was ridiculous There's a link in the description for a website called L2 fees and just an aggregate of all the different fees that are out there for layer 2's and Of layer 1 also gives you a theorem, but it has polygon ZK EVM ZK sync light and everything in between you can see that even though I mean the fees are pretty low like optimism stark net Arbitrum less than a penny. That's how it should be That's how it was always supposed to be But you know it uses a layer 2 solution now a theorem can't handle everything as far as a layer 1 Loop ring polygon to gates Boba network and you can see that even though some of these You know this this then kuna upgrade came out. First of all, I don't poly god is I Still considered a side chain. I know people will say well It's a ZK roll up and it's it's a considered an L2 Well, it hasn't really gone through that whole process and I may be in the future this will happen But it's still I mean 27 cents, which is you can use a some other L ones out there And it's not even that expensive to gate point 29 and so on and so forth So I think things are working in the right direction We'll see how it goes and then this was a post from CEO Coinbase Brian Armstrong and this was hey, this is pretty big especially for base I mean base is again an L2 on Ethereum and it went from a network fee of 31 cents to zero Well, essentially zero. It's like point zero zero zero four something like that And then to finish up polygon has yet to see its gas fully drop off We just talked about it the mean transaction cost the network are currently hovering around 72 cents Polygon labs VP David Silverman said that he expects all L2s including polygon will be fully integrated with then come within a month or two Which sounds pretty good and then lastly Most layer twos with slash gas fees have already seen dramatic increases in network activity Billy transaction volume is more than doubled on optimism base Arbitrum and Zora in the week since the upgrade But it did say this and I have to agree here Recent gains of L2s don't appear to be at L1s detriment Please not yet traffic on the Ethereum main net remains consistent with figures in the past year for you to scan Let's just pull it up real quick So you can see That even though the transaction cost and it's still like 10 bucks 11 bucks 12 dollars somewhere on there You can see that people are still having to use Ethereum especially if you're doing things like with certain NFTs They're not on L2s if you're doing certain things with like even meme coins Sometimes they're not on L2s and you have to use the Ethereum network and you're gonna pay those fees And it's not like it's dropped off the off the cliff People are still using it, but that one comment in there made me think it says here up here Delhi transaction volume has doubled. I'm like I wonder if that's true because I never really believe anybody because that's just how I am But if you go to app dot Artemis that XYZ links in the description You can take a look at daily active addresses transactions dexterating volume fees price revenue TVL and down here It gives you the summary over a month. Let's just change that See has period over here. Let's just change it to seven days and This is daily active addresses. That's that's a little bit different from daily Transactions, but I just want to show you this here daily active addresses That's to me is is a one of the signs of adoption when you have a lot of active addresses moving back and forth again It could be bots you got a point, but I like to see this is kind of like a gauge of what is actually happening So we can see here that Arbitrum a seven day change. It's up 37%. I mean, it's not the double they were time up But again, that's a different metric bases up 43% a theorem still up 16% in seven days Optimism 28% and the rest are in the negative So what does that tell you it tells you that maybe people are using L2 is more than they are I mean slides down 1%. All right, you got me now one sweet 18% near as down 15 That's crazy Cardano 10 and avalanche is down 30%. That's weird. Aptos is down 12. Let's Let's mix it up. Let's take a look at that over 30 days or a month Now it's even more interesting actually look at that basis now base did double in 30 days 190 almost 200% Avalanche is up arbitrums. Everything's up. What's down? Geez Louise Cardano is still down negative 17% now What are you gonna do and I'm sure all the Cardano haters are all right there. They're dancing on the grave. Hey wait wait wait It's gonna be okay for a Cardano holder. I'm sure they got something up their sleeve nears down to over the month and 84% for Solana, so that's that part and then let's take a look at daily transactions I want a little bit more difficult to to read Just the way that it's put out I got to get rid of this because this is daily transactions number of unique on-chain interactions the protocol unfortunately with this one Solana is Far away the biggest one, but this could be votes and Non-vote transactions put in together, which is a little bit funny how they do that. It's not funny But that's just how it is. Let's just take let's just take Solana out there because it's screwing up the whole chart It's just too many Let's see where we're at So polygon four and a half million 4.5 million same thing in the last So many days the theorem one from 1.2 million to 1.4 Optimism went from five hundred eighty five thousand The seven or eight so it went up actually everything a lot. How about Cardano Cardano one from Cardano one from 54,000 Daily transactions to It's not registering 64 so pretty flat so yeah things are actually moving in the right direction and look on this channel yesterday we even talked about What the SEC is doing and what this has been talked about on many channels actually the SEC is coming down a little bit hard on the Ethereum foundation They've already put out probes for an investigation into if it's going to be labeled as a security I and of course what happened yesterday. Well the price pump It's like and of course there was a good macro news from drone Powell came Coming out and being a little more dovish and being more consistent So it doesn't really matter in the grand scheme of things even if The theorem is like okay. You're you're a security. So what so now you got to go and you have to register with the SEC Hopefully they actually allow people to register with them and everything is fine. I think there could be a problem again delve into the weeds essentially is if they say yeah your security come in there and register with us and Everybody has to come in all the different exchanges all the different projects and they're like, okay Let us register here. They're like, oh, yeah, here's a mountain of paperwork And we're not gonna tell you what to do and then just kind of collapses everything That would be like the worst-case scenario, but that's why we have Congress. Hopefully they can step up and do their job Then that was funny you and I said couldn't skew a straight face with that one. Anyhow, let me know you think about that in the comment section and then on top of moving from Ethereum, let's talk about Tokenization of assets this was a chart that was put out for because our WA is a real-world assets are It's a hot topic and it's being brought at the forefront by essentially black rock But did you know that old-skyle old-school institutions are already tokenizing treasuries and This has been going on for a year now. I was not a hundred percent aware of this But here it comes Franklin, Templeton one of the oldest in the United States They have an on-chain us government money fund market cap of me Reasonable 300 million dollars and you'll see that, you know, what chains are they building on? Well, they're building on stellar and polygon, which essentially is a side chain or an L2 of Ethereum Ando, I don't know who they are Ethereum Solana Polygon and the rest all Ethereum So I think when people say like they start to fade a theorem and go Ah, it sucks and it's awful and da-da-da just remember how much money is actually built on it and just think about that Will it be the next great thing and over and flip bitcoins down saying I'm just saying that there's a reason why I diversify and Just something to think about so this that that Information was taken from this article tokenize us treasuries grow to almost a billion dollars in 2023 So in 2023 tokenize treasuries one from 114 million in January to 845 million by the end of the year Let's say that again tokenize treasuries us treasuries Went from 114 million in January to 845 million a year. That's a 641 growth Within one year and these are just the people that are doing it now. They're the first ones No one wants to be first, but nobody wants to be last So I see this only continuing especially with RWAs especially with black rock coming in but we'll see so I like this This is actually good for my Ethereum bag But we'll see it all goes over time and See which one actually wins and then finally Just to talk about Number one which we big which will be Bitcoin. There was a good piece that was put out This is by coin telegraph And it states Bitcoin ETF makes a honeypot for hackers and government This is from the CEO of Tresor and his name is Mattesh Zach. I'm pretty sure I nailed that and It's it's something that I was thinking about and someone actually put it on the on a paper or actually wrote it up I thought it'd be interesting So it states here that According to mr. Zach there are currently 420 million global exchange users. Think about this. There's 420 million global centralized exchanges users and Only 8 million self-custody. That's 2% 2% of people. I Apparently I'm talking to myself when I'm telling everybody The third rule underneath me which says 0% exchanges don't leave anything on exchanges and I know when people tell me Rob You're a dinosaur and you know this this whole thing that happened With mount gox and with Celsius and with Voyager and FTX and Blackfy And fill in the blank will never happen again We're fine. We're gonna be good. It's gonna happen again It's gonna happen again and nobody cares and that's why I Can't help everybody so I'm glad that all the tourists aren't here. Thank you for showing up I'm sure you're doing the same thing. Don't leave them on exchanges. It's ridiculous and This is part of the reason why? With the current major inflow of capital in the spot ETFs coin bases is likely to become the largest Bitcoin honey pack honey pot Attracting hackers social engineers and other attackers and volumes never seen before. This is again from the CEO of tracer These bad actors may not be the highest risk in the case the major threat has come from governments That may be tempted to confiscate Bitcoin stored at Coinbase in whole or in part Those specific taxes are simply just by legislating and confiscating. So there's two parts here If you don't know Coinbase Essentially is the custodian for eight out of the ten Bitcoin spot ETFs. It's the big one and they are holding all of the Bitcoin Hopefully they don't do something crazy and screw something up I'm sure they won't but I'm just saying if there is a screw up or if there is a hack or something happens Even if they have cold storage, I get it I get it But I'm just saying it scares me that it's just in one centralized place They have everything right there and then the governments could come in. I mean, there's one part on hackers and the second part is of course Confiscation by government. This is what the whole reason why we're into crypto and digital assets just saying and Then people would say wow, that's just some crazy nut over on trays or just pumping his own product But as a reminder in 1933 FDR had an executive order of 6102. What does that mean? They said look we've got a lot of problems in the United States They confiscated citizens gold because the federal and Let me ask you always I read the sentence if this reminds you of anything going on right now. It might They confiscated citizens gold because federal debt was out of control And the geopolitical headwinds were blowing in an uncertain future So if that reminds you of anything That could be that so it's just something to think about I know people will say like, you know You're being a little bit too worried. Just relax. I can't relax because I'm a worrier and that's that's how it goes And yeah, let me know what you think and then lastly ETFs are slowing down for some reason. So this is a piece that was put up by coin telegraph Now let's go through this real quick. The three-day net outflows was 742 million. That's a lot ETS is now marked their third straight day of total net outflows Obviously, we don't have the data for right now because you know, the day is not over It's three o'clock in Puerto Rico time, which is Atlantic standard time, which is the same as Eastern Center, I guess but the outflow was due mainly to For grayscale as usual, which bled 386 million dollars and over the last three days It's been quite a bit See here grayscale grayscale from the 15th No, see me 18th 19th and 20 the outflow was 642 million 443 million 386 million and the inflows I mean from one of the big ones of black rock was all who had zero one two Btco and easy BC. Well good enough Black Rock has in flows of 451 one of the saviors, but then 75 and 49 and of course outflows are pretty but Generally speaking we are still up Quite a bit as far as like the total looks like we're at 13 of billion No, no, excuse me 11 billion Total inflows and that's from taking and just take a look at a black rock at I or I bit 13 billion in flows 13 billion eight nine Grayscale outflows 13 billion two seven one It's like they're fighting for for jockeying for position. That's what it is So hopefully we can still see that but it reminds me of the thing Which is you know, we all talked about all ETFs gonna change everything and it's gonna just gonna keep happening And of course, it'll be massive inflows and then we'll see some more people again takes time It takes time for adoption to happen. It takes time for people to actually get it, but we'll see how it goes That's why other cost average diversified. That's it for today. 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