 Hello friends, and thanks for coming back for another episode of the market report here on Cointelegraph. I am your host, Benton, and we are joined by our resident experts, Marcel Peckman in San Borgie. Everyone's back this week. Glad to have everyone back here. San Borgie is our business editor at Cointelegraph, where he brings a decade of experience in economic analysis and financial market writing. Marcel Peckman applies his 17 years of experience trading derivatives, options and futures to the crypto derivatives markets. Fellows were back in action this week, but the markets are not back in action. What's going on? How are we feeling? What is the poll's check for what's happening this week, Marcel? You are grimacing. I'll start with you first. Yeah, Benton. I feel like the kid who had a candy at their hands and was going to lick the lollipop and then Daddy took the lollipop away when he saw Bitcoin at $25,000 and said, my God, we're back. It's the end of the bear market. Oh, my. Then it suddenly had minus 10%. I think the feeling is that we're never going to get out of this no man's land below $25,000. I think this bear market will last for another four or five months easily. Sam, how are we feeling, man? You're a mute. You're a mute. Still a mute. Yeah. Still having some issues there with the. We'll give Sam a second to fix his mic up, but like Marcel was saying, down 10% of our weekly highs a couple of weeks ago, Sam, try them in whenever you get the audio. Not yet. We will hear from Sam in just a minute, but folks, we want to take a second to thank everybody for tuning in from around the globe. We appreciate all of our loyal viewers here for the Marker Report. We love having you back here on Tuesdays, 12 PM Eastern. If you haven't liked and subscribed, go ahead and do so now. It is Cointelegraph on YouTube and folks, we got a big show lined up. We got memes for you today. We're going to crawl the Twitter sphere to see what people are talking about. I heard Pudgy Penguins were selling like hotcakes yesterday, NFTs, are they back, are they not? We got in-depth analysis for Bitcoin, Ethereum, some of the top altcoins that are ranging right now that could potentially break out. We're going to get our expert's takes on what's going to happen at the Jackson Hole meeting this week. So big show lined up. Make sure you get all your crypto facts here on today's show and go ahead and like, subscribe, smash the notification button if you have not done so. Sam, give you a second to chime in here. Have you got the audio? Not yet. All right. We'll get Danila and our crew on that with Sam here. But again, today we're going to be giving away 50 bucks to the Cointelegraph store, all the swag you can imagine, hoodies, t-shirts, hats, you name it. We have it in our store. We're going to be giving you 50 bucks. So drop your Twitter handle in the chat because at the end of the show, we're going to select our winner. Drop it in the chat. If you have questions for our experts as well, feel free to chime in the chat. We are hawking the chat at all times and we are going to make sure we address every single question that is popped in there. So let's go ahead and get this party started with our weekly roundup video for this week. Sam, back here. Sam, we got your back, man. Can you hear me? Oh, he's back. He's back. You know what? This is a... Sam, what's up this week, man? It's a conspiracy. What they're trying to do is they're trying to shield you from the overwhelmingly bearish sentiment that I have. And I want to say, I hate to say I told you so about the whole market situation, but I told you so. It was never a bull market rally. It was never an impressive rally. We're heading lower, guys. Yeah. Sam's been banging that drum now for months, September, October, potentially the bottom. A lot of the articles we're going to be touching on today have mentioned potentially Q4 as a bottom. It was a hot air. It was a hot air rally, folks, bear market rally. You heard it from Marcel and Sam. I think both have been calling it now for weeks. So that's why you tune into the market for it. You can get those insights, expert insights, but I think we have some memes that we need to get into first because we got a lot of great articles to dive into and some heavy topics that you don't want to miss. So Adrian or Danilo, let's go ahead and pull up some memes for this week. What is up first? The theorem gas fees won't be that high. Classic. What's up next? Let's see. And folks, if you have questions, feel free to pop them in. Bitcoin is a scam. Why? Well, I wish I had infinity dollars to give people me that would wreck the economy. The Federal Reserve. They've been doing that for years. Send me one eighth of YouTube. The classic, classic scam Bitcoin, Bitcoin, Bitcoin, Bitcoin. That was a classic meme during the bull run, though. Yeah. What's it called? Bitcoin is dead. Long live Bitcoin. Right. All right. Great job, Danilo and Adrian. Thanks for pulling up those memes and scouring across the Internet for those. We love, love giving a few laughs here before we get things started. Folks, again, thank you all for tuning in. If you have questions, we're going to be monitoring the chat. We're going to be touching on some hot topics. The Jackson Hole Summit happening this week with the Fed. What does that mean? What are the implications? The fallout. So let's go ahead and get into some of our market news for this week. The first article we have is by William Suburk here, Bitcoin to lose 21K despite miners' capitulation exit, five things to know in Bitcoin this week. So in this article, William touches on, obviously, the Fed meeting in Jackson Hole this week. So I want to touch on this first and read a quick snippet. This year's Gathering comes at a critical time for markets in the U.S. and further a field. Inflation under the Fed's jurisdiction appears to have begun cooling while elsewhere, the opposite story remains true. So first things first, I want to know why is this Jackson Hole Summit meeting a big deal and what is this thing? Sam or Marcel, either one of you can take this and, if you wouldn't mind, just kind of giving us the high level. What is this meeting and why is it so important? Sure. So the Jackson Hole Summit, it's an annual meeting with a whole bunch of central bankers in Jackson Hole, Wyoming. Until you have a meeting of academics, policymakers, and the Fed itself, they basically get together, they have a conference, they shoot this shit, they talk about factors affecting monetary policy, factors affecting the economy. Usually what it does is it gives you some insights into the Fed's decision-making process and to their outlook, perhaps on inflation and monetary policy. There's no decisions that come out of the Jackson Hole Summit. But when you have so many central bankers, so many policymakers, so many academics all coalesce in one place for an entire week, you're going to get some snippets that can help us really determine what the Fed's thinking is like, especially when it comes to inflation. So we know that Powell, if that shared your own power, will have a speech on Saturday. A lot of analysts are expecting it to be a nothing burger, but again, it's going to depend on what are the nuances in his language and whether he's going to talk about inflation peaking or not and what kind of implications will that have for monetary policy. That's why everybody's watching Jackson Hole. Every year has a different focus. This year, I imagine inflation is going to be a key focus. And while we're on this topic of inflation, this article goes on to explain a little bit more here. So if you haven't, go ahead and give it a read on Cointel ref. But why would the Fed let off the gas if they're showing that what they're doing, raising things by 75 basis points is working? Why would they let off the gas and maybe only do a 25 point basis hike or a 50 point? Why not keep it at 75 or 100 until you see dramatic shifts in the CPI? Well, I think that's a really good question. Ultimately, 75 basis point increases are considered very, very unusual for the Fed. The fact that we saw that was quite a surprise, even for me to see a 50 basis point increase is a pretty big jump for a central bank that has been easy monetary policy since 2008. I think that they lean towards being easy and staying easy. So with this acute spike in inflation, given the Fed's track record, 75 basis point is considered quite high. And their whole idea is that we want to engineer a soft landing when it comes to monetary policy. We don't want to put the economy in recession. It's already in one, but we don't want it to be in a deeper recession. So the idea, perhaps the thinking is, if we keep hiking really aggressively, that might put us on the edge of faltering into a bigger recession. So this is, I think, their attempt to try to nail that soft landing. Imagine a plane coming in, it wants to have that soft landing. They probably perceive another 75 basis point hike as being too aggressive, which could actually overshoot what they're trying to do. I personally think that interest rates do need to go up substantially more to tame inflation because even if CPI is zero the rest of the year, the annual CPI for the whole of 2022 is still going to be probably three times the Fed's target. So inflation is very, very high. Regarding what level they hike at, that's their academic discussion. I think they don't want to, I don't think they want to overshoot their target when it comes to what they're trying to engineer, which is bring inflation down without wrecking the economy too much. Excellent insights there. And I want to go ahead and shift back to the article here because it was originally talking about Bitcoin, but to give everyone the high level macro view of the five things you should have known going into this week about Bitcoin. One of the other excerpts I want to pull was Michael Vandepop, friend of the show, said BTC USD may cap any dip at the CME futures close from August 19th, this lying around 21,200. More difficult for the majority of the market implied would be gains given the overall bias for the downside to enter. So he does seem to think that there is not an inclination to see new lows, but there is some other opinions out there where I think we could potentially see more new lows. So this is the chart from for Bitcoin here. We do see a little bit of a pattern forming. We're reforming higher lows here. So if this drops below, it looks like 2100 that could kind of break this little formalized pattern that we've been building since about the 20th of August. So yet to be determined, but Marcel, I think you have some insights in regards to some of the TA mentioned in this article. So I'll go ahead and let you jump in here. Well, first of all, if had there been a consistent technical analysis or an indicator, it doesn't matter if it's on chain or not. If it works consistently, so every analyst in the world will be 50 rich. That's not the case. So the situation, especially right now, where the correlation to traditional markets is really high, sometimes it's not worth looking at specific Bitcoin price charts, because we're following the trends of risky assets such as Chinese assets and tech stocks and, for example, oil, the global WTI oil, it's down 28% from the peak in June. So Bitcoin is not alone here. And as for the miners, I don't think that's, which is the title of the subject. I don't think that we're seeing the worst of it. They're working using leverage. They finance their machines, their acquisitions. And if the price goes lower, maybe below $20,000, we're going to see a lot more capitulation from miners. But as for technical analysis, I don't believe that if we touch 20K or 25K, it's going to change the trend. We've been in a bear market for five months. It's not about $500 up or down that's going to change the trend. Just real quick, you touched on the Bitcoin miners capitulation. So what you're saying is that when the miners were buying their devices or their mining rigs, they were financing or getting loans to actually buy the machines. And were those loans based on Bitcoin or Fiat? And you're saying like, are they, they're still more selling that can potentially happen? I guess, if you wouldn't mind just breaking that down. They have double exposure because the earnings, the payout of mining is paid in Bitcoin or Ethereum. So if crypto goes down, the revenue goes down. But the loans that they got from the bank is based on the machine's price, the miners. So if they paid $5 million for 20,000 miners and the price of the miners and the whole crypto market kept going down, so their loan is now worth less for the bank. So the bank is going to ask for more collateral. So they have to deposit more money. So it's gruesome. It's terrible for miners when the price goes down because of those two things, the revenue goes down and the loan that they have pledged against those miners also has lower value. So they have to deposit more collateral. Very good. All right. Thank you for breaking that down for us. And hopefully those watching at home gave you a little bit more insights as to what's actually going on behind the scenes here with a lot of the mining stuff. So the other last topic I want to touch on is there was a quote from this article that said, price follows hash rate. And so historically speaking, when the hash rate has dropped, so has the price. Sam, are you a believer in this theory that price typically follows the hash rate when it comes to Bitcoin? I suppose there's validity to that. I don't really look at that as a signal, though, for price. I think when it comes to Bitcoin, there are very few signals that actually indicate where price is going to go next. And hash can actually drop. I mean, we've seen that happen before, right? Like it's not inevitable that's going to continue to go up. So you have to kind of be careful with how you read into these different narratives and these different data points. You know, you could take a look at it as a broader trend. Yeah, if hash continues to go up, doesn't go down, you could likely see Bitcoin follow suit. But I don't have any timelines for that. And I would be careful to look at that kind of data as a signal. I consider it to be more noise than signal. Excellent. And we're going to be pivoting into our next article written by our very own Marcel Peckman. So we're going to go ahead and pull this one up. So data shows Bitcoin and all coins at a risk of 20% drop to a new yearly low. So Marcel, are we on pace for more new lows coming up? Is this the worst of it? Are we out of the woods anywhere near it? I want to hear from the man himself that wrote this article. Give us some insights here as to what you mean. OK, Benton. So there were two indicators that left me uneasy. As the run towards the $25,000 resistance, it was not enough to instill confidence. So that's the worst thing that can happen. Because we had a 20% rally, and we haven't seen improvement in stablecoin demand, or leveraged longs in futures. So there was weak retail demand in Asia, measuring by the tetra premium, so stablecoins. And there has been a balanced use of leverage for longs, so buying and short, selling both Bitcoin and Ethereum, which is awfully bad. If you just had a bull run to $25,000. So if the traders are not getting excited after a 20% rally, imagine what's going to happen if we lose the $20,000 support. So the data indicates that buyers will not step in unless we see a retest to the yearly lows. So great risk of a 20%, 25% correction from here. Sam, would you like to add any color to Marcel's article here? Well, it confirms what I've been saying for a few months. I mean, the exact level is not necessarily. If you recall, I was expecting a much more violent bear market rally months ago. We never got it. But it's not out of the ordinary for us to see a sustained rally during an uptrend or during a downtrend. But $25,000 isn't all that impressive, right? And we got firmly rejected off that level. So for me, I think that my expectation is new lows in the fall. And I think everything is kind of lining up for that. Now, whether we whip down exactly to the previous lows, we go lower. Again, I don't have a crystal ball. But the whole idea is that I do expect another significant leg lower before we can kind of begin the next cycle. And that hopefully addressed ATC, BTC, Web3's question there. Go ahead, Marcel. $25,000 is a 40% pump from the yearly low of $17.8,000. So there's got to be a level that if we stay there for at least, I don't know, a week or 10 days, that the bears throw in the towel and say, well, from here, there's no way we're going to make a new yearly low. And I do think that 40% up from the bottom, which is $25,000, is an important milestone or mark. Yeah, fair enough. I think that a 40% rally from the bottom definitely is a big jump. I just take a look and I say, for us to see a more sustained rally above $25,000, who's buying? Where's the demand coming from? There's really not much out there, except for the long-term hodlers. You've got the D gens over on the leverage side. They're coming in every now and again. But where is the new catalyst for a sustained rally? I'm not seeing the narrative. I'm not seeing who's going to be stepping up. The Bitcoin inflation hedge narrative completely failed. In terms of the acute spike in inflation, that didn't work at all. No one is looking at Bitcoin right now as an inflation hedge in the sense that people coming into Bitcoin because of inflation. I just take a look and I say, where is the catalyst going to come from? I don't see it right now. It will come eventually. Everything turns eventually. But right now, I don't really see that. So that's kind of my take on it. I guess that brings up a good point though, Sam. And I guess what is the narrative that you guys are kind of looking at for the next six months for a case where Bitcoin starts to explode again? What is that narrative? Is it institutions? Is it nation-states? Is it retail's going to come back into the game? What does that kind of look like for you all? I'll start with Sam. I'm looking for signs of accumulation. I want to see that Bitcoin price stabilizing at some level and for us to actually develop that lower low and for us to actually see evidence of accumulation. Now, on the institutional side, I think a lot of institutions are waiting for more regulation. I don't know if we're going to get that in the next six months. But if you take a look at the activity on the ETF side globally, I want to see signs of accumulation. I still believe in the four-year cycle. The next four-year cycle could be the last textbook four-year cycle. I don't know, it could be. But for me, I'm approaching it as we're going to have a low and then we're going to have a period of accumulation. So right now I just don't see the catalyst for a huge rally because there's really no new buyers coming in, which is fine. Let's see everything stabilize and let's see accumulation happen. That's what I'm looking for because you need that accumulation before you can get any kind of sustained rally in the future. Very good. And Marcel, is there any particular narratives that you're trying to pay attention to here for the months ahead? Yeah, for instance, Citibank, if I remember correctly, just said that expects 18% inflation for UK, for England, for the beginning of 2023. So what I think is going to be necessary, it's for institutions and for regular people to lose confidence on the central banks that they're losing control of inflation or they're losing control of not instilling a recession by withdrawing the report trace program. So the moment that the populations, the banks, the institutions, the fund managers feel that, hmm, maybe this inflation is not going away or we're going to enter a deeper recession, then they're going to search for alternative assets and then Bitcoin is going to be a viable option, no matter if it's $20,000 or $200,000. They won't care about the price. They will be worried if their bank is going to fail, if their government is going to fail, if their currency is going to collapse. So that's what I think is going to trigger a bull run. That's actually a really good point Marcel. And on the topic of central banks, I mean, we could see a bit of a relief rally. The relief rally wouldn't absolve any of the issues that Marcel talked about, but if the central banks decided to pivot right now, if the shifts for some reason goes from inflation to growth again, and the banks start to either stall their rate hikes or reduce the interest rates, see more risk assets coming into Bitcoin and crypto, again, that's probably just going to set us up for a bigger bubble down the road. But in terms of short-term catalysts, I know Marcel, Benton, you asked, the accumulation, but also the central bank, you got to take a look at what central banks are doing. Very good insights. And it looks like we have a question from uncrypto, would next e-thmerge lead to some kind of relief rally? I guess, what are you guys anticipating? Quick shot answer here around the e-thmerge. Marcel, I'll start with you first. I'm going to talk about Ethereum in a while, in a few minutes, so wait for it. All right, Sam, any quick thoughts and then we'll jump into the next article where we have a couple coins we're going to give you some analysis on. Yeah, e-th could pop because it's less affected by the macro climate. It's less tied to macro like Bitcoin is. So you could see a rally if the merge is executed successfully. Very good. All right, we have some TA, some market analysis here, coming in from one of our articles this week from Rakesh Upadai. And we appreciate him giving us his insights as we cryptocurrencies reacted Jackson Hole. Obviously we have touched on that, but we are going to be covering some of his takes here on what's going to happen with some of these coins. We're going to be touching on e-th first. So Rakesh is telling us the bulls attempted to stall the decline in the 50 day symbol moving average, which is going to be, looks like this red line here. But the weak bounce off suggests a lack of aggressive buying at these levels. And I know Marcel is going to be giving us his insights as to what's going to happen here with Ethereum. But we see we're in this long term downtrend line and we thought we had some steam building, but it dropped off an absolute cliff. EMA is, it were below the EMA and below the SMA here. You can see the RSI is still not in one of those buy zones where it's oversold or overbought. So for me, ETH right now, I am sitting on the sidelines. I am not jumping into ETH right now until I see a formalized support. What are you guys doing with the ETH right now? I think it's a good risk reward. I mean, if you think what is planned for Ethereum and you compare versus Solana, Polkadot or Cosmos or whatever, you see that they have a bigger audience. They have more developers. So I think the potential for Ethereum is much higher. So the risk reward here seems attractive. Yeah, if you're looking to trade, if you wanna buy and take advantage of some positive news around the merge, I mean, you're not gonna, I don't think it's gonna, it's a huge risk reward on the negative side, right? Again, I don't know where the price is gonna go in the short term. ETH is probably a good long-term bet if you have a more medium-term horizon. So even if you don't nail the merge news, kind of catalyst rally, if you hold a bag of ETH, you'll probably do well in the medium term, in my opinion. Yeah, short-term trading, definitely expect some volatility here. Long-term, I am bullish on ETH. So let's go ahead and move into the next token, but more so, I see you have some thoughts here that you'd like to share just about this article in general. So I'll let you go ahead and jump in here while I pull up our next chart that we're gonna dive into. Okay, so a little bit about the Federal Reserve. There's a lot of concern of what the Jackson Hole say or what the Federal Reserve would do on the next meeting. But what I think they're doing is that they're steering the market to one direction, but they're not following two. So for instance, they promised that they would reduce the balance sheets. So sell some of the assets by $1 trillion. They couldn't have almost $9 trillion worth of MBS, which is the Mortgage Bureau's corporate bonds via ETFs and Treasuries. And they had been buying for the past two years. And now they said, well, we're gonna sell, we're gonna wind out, reduce our position by $100 billion every month. So what happened after six weeks of the program implemented? Yes, they reduced the balance sheet by $60 billion, and they promised $100 billion every month. So as the market loses confidence that the Federal Reserve would fall through, they will demand higher return for the bonds, for the treasurers. And that's gonna be a wreckage for the economy because they have to pay more interest rates to issue debt. So I think that's what's happening here, but it's slowly, it's gradually, slowly, and then fast. So the confidence in the central bank attitude, or they're not falling through when the market is clearly seeing what's happening. So that's, I think it's more important that what's gonna be setting the Jackson Hole. Very good, all eyes on Jackson Hole Wyoming this week, not just hitting the slopes. Looks like there's some important stuff happening. All right, let's get into the next token here. Cardano is, and then we'll do one more after this. So folks, stay tuned, we got the analysis here. All right, so Cardano slip below the 50-day SMA at 49 cents on August 19th, indicating the bears have the upper hand. Buyers tried to start a relief rally on August 20th, but the weak bounce shows a lack of demand at higher levels. So this looks like this is a daily chart. So we'll go ahead and pull this one up. Again, another downtrend here. You can see the long-term downtrend line, RSI is just hovering under the oversold part. And then you got EMA, drop below the EMA and the 50-day SMA here. We're gonna see if this hold, this 40-cent mark holds. What are you guys doing short-term, Cardano? If you're looking at this as a potential trade, Marcel, what are you doing here if you see a chart like this? The chart doesn't look good. Plus the founder just said on video in an interview that people shouldn't be blaming him for failures or launches on test net if the development is not going their way because it's decentralized community. So I think he should take the blame and say, well, sure, we should have updated or we should have a TVL over a billion or we should have a bigger network. And it didn't happen because of this, that and that. Not try to point fingers and blame others. So I think it's going down. Sam, what's your take? Yeah, there's charting it, man, this ain't it. I mean, this is not a tradeable chart in my opinion. I mean, look, I'm not gonna sit here and hate on Cardano. I know there's a lot of people who do that. I think what you're probably seeing with all these issues is that the academic approach to building, it's obviously set as a strength that we're taking an academic approach to building this. In my opinion, an academic approach has more drawbacks and it has benefits. So you're starting to see a lot of that with a lot of these delays, but the community behind Cardano is massive. And I think that if they can get through this, there's gonna be some more upside in the next market cycle, whatever the hell that begins. One thing I will say to Marcel's point is like it's interesting to see how the founder or the leader of this place is kind of now trying to be like, oh no, it's decentralized community, it's on them. But it's tough to kind of like play both sides there and be able to be the leader on a public facing side, but then also be like, well, it's about the community, they're the leaders. So again, interesting to see how this is all kind of playing out as each community kind of gets more formalized. All right, last token here from this market analysis article, we got Solana. So let's go ahead and pull this one up. Solana broke below the moving averages on August 19th, indicating the bears have the upper hand. Well, if the price rebounds off the $32 market, the bulls will tend to push Solana USDT pair above the moving averages. So let's zoom in here. Again, daily chart, you're looking at the ranges here. We've been ranging in between $48 and the low of 26. This thing is just on a massive downtrend and we're below both the EMA and SMA. RSI is getting closer to the oversold mark. But guys, what is the deal here? Is this a value buy at these levels regardless? Let's talk long-term Solana now instead of short-term trading. Is this a value buy? Are you gonna be able to look back two years from now and be like, wow, I got Solana at $26.30? Sam, we'll start with you first. Solana has a lot of major backers behind it. People who are really enticed by a lot of the technical prowess that it shows, but we've seen huge vulnerabilities on the security side. Is that gonna be enough to top of the Solana experiment? I don't know. I'm not that close to the security side of it to know whether these issues can be fixed. Right now, I think that Solana is probably a good risk-to-reward. The risk-to-reward ratio on Solana is probably positive at $26, just given the massive community behind it, the massive backing. But there are some serious, right now, technical issues as we've seen repeatedly throughout the year. Marcel, are you buying or selling long-term Solana at these levels? I'll be a buyer Solana here for two reasons. First one, do not bet against Sam from FTX. He's a holder, he's a supporter. He incentivized the ecosystem, so don't bet against him. And number two, you think that the Ethereum not emerge, but the Ethereum migration to a sharding, so parallel processing and reduced fees, it's gonna take longer than expected. As usual, maybe a year, two years, three years. So in the meantime, I do think that Solana is well-positioned to capture some of that volume. So I think it looks like a bargain here. Very good. All right, you heard it from our experts, Marcel and Sam. The one thing I will say, just while we're on this Solana and Sam Bankman-free topic, is the ETH whale that hadn't moved ETH in like three years and had like 145,000 ETHs sold his ETH for FTT and Serum, which is the governance token of the decentralized dex on Solana and then FTT, the native token for FTX. Thought that was interesting. I don't know why, like I don't know why ETH whale would do that, but it could be Alpha, maybe they are actioning there. So, food for thought. But folks, don't forget, we are gonna be giving away a $50 gift card to the Cointelegraph store. So make sure you drop your Twitter handle in the chat. We're gonna be looking at the chat. We see everyone in there, we see Adam, we see Zimborska. We see Catherine Rhodes, thanks for tuning in today. Nathan SK, Rolo, love you all. Thanks for joining the Marker Report today. So drop your Twitter handle in the chat for your chance to win those $50. But next, we got the crypto tip. So, Danilo, let's go ahead and jump in. All right, be wary of exchanges. Some good questions to ask yourself searching for a cryptocurrency exchange application or website are, what is the exchange's reputation? How high are the exchange fees? Are their payment methods secure? Is the exchange available in my location? Or can I use a VPN? Does the exchange require an ID? Exchange regulated, if so, where is it regulated? Those are all important aspects to understand when you are jumping in and using exchange to get your crypto. As the crypto boom has generated hundreds of billions of dollars from coin holders, a number of scams and fake exchanges platforms have popped up. So it's essential that you're entirely certain that your chosen exchange platform is authentic. And that is all part of doing the research when you go to exchange and trade your cryptos. Make sure you are on an exchange that you're comfortable with using that as safe and secure. We want to keep you all safe. So those are crypto tips for this week. All right, Marcel, we have been waiting for this. I know we touched on ETH earlier, but Marcel's got all the goods. Everything, Ethereum, you want to know about it. Marcel's got it. So Marcel, I'm going to let you take it away. Okay, so a lot of uncertainty ahead of Ethereum merge and investors have a reason to be skeptical because ETH jumped 90% in 30 days towards $2,000. At the same time, first instance, a lot of people say, well, it's not worth $2,000. It was like $1,000 just four weeks ago. Sure, but how do you know if the $1,000 was not deeply discounted? It's very confusing and it's very hard to assert a value for Ethereum network because it's under development. So we don't know what the network will be in five years. And a lot of people say, no, the price jumped because of the free coin, the fork, the proof of work coin that's gonna be issued given for free if you're a holder of Ethereum during the merge. Yes, these things can happen. I think it's, this new coin is already trading at Poloni X and Bitmax and a couple of had changed. It's valid at less than $100. So I don't think that's a game changer. So let's assume that this four coin it's worthless or if it doesn't exist. Ethereum remains the absolute leader in smart contracts deposits, the TVL. Danilo, I want to share my screen please. So Ethereum holds $35 billion in deposits on its smart contracts, which is the TVL, the total value locket. And it holds a 57% market share. And remember that does not include the second layer scaling solutions which are currently done outside of Ethereum on phantom, optimism or wherever, but it's not included on the $35 billion. So let's step back for a minute. Let's digest this number. It is important to understand the significance of it. Thank you Danilo for sharing. So for instance, if we combine Cardano, Solana and Polkadot, their entire market cap, that's not enough to match the $35 billion staked in Ethereum decentralized applications, the TVL. Okay, so Ethereum has a strong hand in TVL and completely obliterates the competing smart contract networks. That's, we understood it. And what do you think is gonna happen if Ethereum 2.0 succeeds in implementing the sharding? So the parallel processing and taking the transaction fees down to zero. Who's gonna develop DeFi applications, games, NFT, marketplace on competing networks? No one, but okay, there's still a fair criticism that right now the top five applications, decentralized applications in terms of users, they're not running on Ethereum. And the critique is valid. Danilo, I wanna share another screen please. So here we have the operator with the number of active users in the past 30 days or active addresses wallets. So PancakeSwap is the absolute leader on BNB chain with two million users. Then you have some games, Allen Woods X Infinity with on-chain running, atomic assets, open sea, Q-Ridge. None of the top five applications are running primarily on Ethereum. So that's a decent and valid criticism. But you gotta remember that right now, the Ethereum fees, they vary from $1 to $5. And that's not gonna cut for most users. So Ethereum is in disadvantage right now. Thank you, Danilo. So in essence, what we're seeing here is that despite all the incredible bottlenecks that Ethereum network has, it remains the absolute king in TVL. So every competitor had a decent chance, a good opportunity to dethrone it and somehow failed miserably. So even if the merge doesn't solve the scalability issue at first, it shows that the community is willing to sacrifice heavily for that goal, which will happen someday 2023, we don't know, the scalability, so the fees going down to zero. Had there been a easier way to migrate with lesser risk, I'm sure that the developers and the community would have opted for that. So is there risk in investing in Ethereum right now at $1.6,000? Sure, but without risk, there's hardly ever a satisfying reward. So I do think that investing in Ethereum right now, if you believe that the scalability issue will be solved over the next one or two years, it's a good buying opportunity. One quick note that I wanted to highlight there, which I thought was interesting is that when you pull up that list on DappRadar, PancakeSwap totals volume was 2.3 billion. The next largest on that list, at least in the top 10, was OpenC with 349 million. Like, it pales in comparison. Yeah, go ahead. That was a rank in the number of users. If we rank by volume, Uniswap is the absolute leader with $250 billion. Okay, I was looking at that wrong. We were using the rank by the number of users. I see. So PancakeSwap is number one. Either way, that's still almost three times the amount of users in the alien world. Interesting, fascinating stuff. I see we got a question in the chat, ATC BTC Web 3, why does Vitalik want to shift ETH to proof of work at POS? It's already numero uno. I think he flip-flopped that. He meant POS instead of POW. But more so, why does ETH, or why does Vitalik want to do that if they're already number one? We know glaring issues, but if you wouldn't mind just breaking down and answering this question for us. Because Vitalik and the Ethereum community understood that the finality of Ethereum is being the super world computer. So huge processing power. So we have a lot of depth, a lot of applications, a lot of TVL. So for that to happen, to do handle the micro transactions, the games and NFTs and et cetera, and not face bottlenecks, such as the Solana network is facing, it needs to happen in a proof of stake. So you can do parallel processing, and that's not gonna cut for proof of work, which demands heavy capacity or a heavy processing power. And the proof of stake doesn't require any of that. So it's easier to put up a validator. You can use AWS. You can use your computer at home to validate Ethereum transactions. So you can have a huge processing power, and you can reduce the fees almost to zero. So that's what Ether is aiming at right now. Very good. And one question I had for you, Marcel, is why do you think Ethereum was so successful at defending its TVL in market cap size? I think because of the, when you talk in terms of TVL, you're talking basically about DeFi, so finance. And in finance applications, people want security. So a decentralized network, a network that has a stable coin that has been battle tested, such as the MakerDAO die. So yes, we've seen some competitors fail after reaching $30 billion worth of TVL and vanishing from earth and the stable coin going to zero. So those investors with $100 million and over, they're not gonna risk for cheaper or faster transactions. They're happy to pay $5 or $10 or $50 if they feel they're on a safer network. So that's why the TVL in Ethereum has been defended. Very good. And the last question I had for you about Ethereum, and just because I've heard a lot of different stuff, what's gonna happen after the merge with ETHPOW versus ETHPOS, you were talking about how it's already being traded, Poloniex, what is supposed to happen? So if I'm an ETH holder, do I have to stake it in order to get the new ETHPOS? Do I just have to hold it in a wallet and get airdrop the new ETH? How is this gonna shake out? Okay, so to get the fork coin, which is the free coin on another blockchain, you have to hold your Ethereum on your own wallet. If you hold it on exchanges, or you put it on staking or DeFi applications, you don't really own the address that's gonna receive the fork, the free coin on another blockchain. So you have to hold it on your own wallet and do not stake it, do not deposit on DeFi, do not leave it on exchanges. And as soon as you get the free fork coin, remember to move your original coins on Ethereum to a new wallet. So when you send the transaction on the POW network, the miners cannot relay and retransmit the same message. So after you got the fork, remove the coin from your wallet, send it to exchange or send it to a new wallet, but don't use the same address that you're gonna use on the proof of work chain for security reasons. Good to know. Very good insights there. Thanks for answering that one for me. That was it, folks. Marcel's got the goods for you this week about everything you need to know about Ethereum, what's coming up with the merge. He's taking care of you. That's why you gotta tune into the market report here on Tuesday, folks. Folks, we got the markets pro segment next. Thank you, Marcel. We're gonna, two tokens you should have been watching, Newsquake alerts for Dexi, D-E-X-E was the trader. So let's go ahead and get into the markets pro segment for this week. Yes, folks. The Newsquake alerts are those automated alerts that instantly notify users when market moving events happened this week. Dexi, D-E-X-E also saw decent price movement after major news this week on August 9th, a Newsquake alert alerted markets pro subscribers that will be global with list of the token at the time it was trading right around $4. In less than 24 hours that price jumped up to 458, 14.5% gainer because of that Newsquake alert. And in these markets, I will take any kind of Newsquake alert that I can get. So moving on. You wanna know about the Vortex score? Well, we got you. Vortex score is a comparison between its current market and social conditions of the past. And last week, Dig lit up the Vortex score with a 67. So anything over 50 is confidently bullish. Anything below that is confidently bearish. And Dig was one of the few assets to see a strong Vortex score last week. On August 8th, a high score flash when Dig was trading at $11,673. And a few days later, that price rose to $13,000. That is an increase of just nearly 12%. And that is the power of the Vortex score. When you get those alerts, Vortex scores change. You see it there on the chart with Dig. That is the power of the Vortex score and markets pro. All right folks, thank you. And if you haven't dropped your Twitter handle in the chat, go ahead and do so now. I saw on crypto drop it in there. We're gonna be giving away $50 to the Cointelegraph store. We got sweet swag, best crypto swag in the game I've been told. We I think all own at least one or two shirts from crypto stores. So you gotta drop your Twitter handle in the chat. We're giving that away at the end of the show. I want closing thoughts here guys. What are you leaving us with today? Sam, I'll start with you. Well, it's gonna be a long road for those crypto holders. Everyone expecting the market to rebound. I think that we have quite a long ways ahead of us. But I think that if you're holding quality assets and Bitcoin being the highest quality of them all, you'll be just fine in the long run. Just have that perspective and don't be forced to part with your Bitcoin unless absolutely necessary. Great advice. And Marcel, any closing thoughts for us today? Yeah, Beto, I agree here with Sam, meaning close your eyes for a second. Think that we're one year into the future. If you look at the chart and Bitcoin right now instead of being at $21,000, is at $15,000. Is that gonna be the end of your financial life? We're gonna be depressed. You're gonna have to abandon your house. If that's the case, don't buy or buy less Bitcoin. You gotta have a position that even if the market drops 30% in one year, you're gonna be fine. But at the same time, remember, but well, maybe Bitcoin's gonna be in $50,000 in one year. So do you have at least a decent stack to 10% exposure to our total assets? You're gonna have something just get out of zero. Maybe it's 5%, maybe it's 10% that's gonna depend on your profile risk, but don't let it be zero. Great advice from our expert panelists. I will leave you this. I've had a lot of normie friends ripping into me saying, oh, crypto's dead, it's gone. Nobody is getting into crypto. And I think you have to, we've had this perspective and Marcel and Sam do such a great job of this is zooming out. It is a brick by brick mentality in five years from now, you're gonna be thanking yourself that you dollar cost average into one of the world's most reliable assets, which is Bitcoin, followed up by Ethereum speaking in relativity right now. But in my opinion, you got a dollar cost average because you're gonna thank your future self five years from now. That is my closing thoughts. Zoom out, always zoom out. Sam and Marcel do such a great job of giving you those perspectives. So folks, we're gonna go ahead and give away that Twitter, that winner for the Cointeleur of store. So I see ATC, BTC, Web three had some great questions. They were chatting it up in the chat interact with folks. So we're gonna go ahead and get them the $50 gift card at ATC, BTC, Web three. I don't know what the ATC stands for, but congratulations. You are gonna get some swag. Feel free to order all of the goodies that your heart desires from our Cointeleur of store. Folks, we appreciate you tuning in and we're glad to be back. We're gonna be back next Tuesday, back on the saddle, 12 p.m. Eastern. We will see you next Tuesday. Until next time, over and out.