 Welcome to Jalassa News, taking top stories in crypto and bringing out a bite-sized piece as today just as the thumbnail suggests there is a upgrade coming forth with Ethereum 2.0. It's going to happen tomorrow and we're going to take a look at what that entails and why it's a pretty big deal for validators but it is just one step in the ever expanding steps of getting to Ethereum 2.0. I'll also take a look at a major bank is urging Ireland to increase or up their crypto regulation and what they want to do there as opposed to what's going on in the U and finally we'll take a look at a trillion asset manager is getting ready to start trading cryptocurrencies as if the news just couldn't get any better so we'll do all those things but first take a look at what's going on the market so today another pretty good day I'll be honest with you it's a Tuesday beautiful day here in Puerto Rico and we've got 2.6 trillion for the total market somewhere around there 2.63 2.68 depending where you look at but the Bitcoin price hasn't really budged it's been around 625 621 somewhere around there and it's going pretty good in all honesty October is looking like that rebound case I expect again fireworks November December and we'll also take a look at real quick just as far as like what we're doing as far as like the last 24 hours and there's been some pretty big gainers I'll be honest with you Ethereum well not in the not in the top 10 or so something like that but again Shiba Inu leaving the charge at 15% Terra 9% 6% for Avalanche 12% for Polygon 15% for Cosmos I mean if you're making some pretty big gains they are outside the top 10 but it always goes in this fashion things flow into Bitcoin then they flow into some more of the altcoins down below the top 10 and top 20 and then top 50 and then top 100 and then as things get rocky they go right back into Bitcoin and it's just a cycle that repeats over and over again also we're using trade the chain for sentiment analysis so if you want to take a look at the trader side of us we'll take a look at the projected range and with 90% assurance we're looking at a next hour between 5% to 2% for why don't they look at Bitcoin cash maybe that's going to be a big pumper go chain I don't know what that is golem algorand I can see that engine coin and reave in the sandbox so something definitely to take a look at also if we want to take a look at what's going on the market as far as the price action here we have the four hour candles and just so you know let me put this in so we actually see everything I want to see as far as the ISI we're right in the middle and it seemed like a couple days ago throughout the weekend at any time it would actually flow down to around 60,000 it just got picked right back up by the bulls and it seemed like they would not let it go to that 59 spot and then of course it rises up we can see that everything's in the Bollinger Band range the MACD's Divergent Convergence of course it's crossed over here and now we're getting ready to cross over again but I think the floor is around 61.5, 61.2 somewhere around there even 61.9 you take a look at here so I see us trading a little bit sideways and tell us some more action comes in where is the money going to come from we'll get into that in a second and then lastly before we take off to the top stories the this is the ETF the BITO for pro shares and again just trading sideways not much action but keeping it where it's reasonable not taking huge dips to people were like ITF is a failure just awful which I don't really think it's that big a deal anyhow I mean it's a good it's a great thing that actually got approved don't get me wrong but as far as like where to invest I would not be investing investing into an ETF futures for Bitcoin I rather hold on myself and then lastly as far as the Valkyrie ETF that one's doing pretty well too trading sideways a little bit of peaks and values so normal day SEC approved Bitcoin ETFs doing just fine no massive manipulation now Gary it's time for you to approve the spot ETF all right so that's what's going on in the market let's get to today's well top story for me real quick I made a little error a little mess up as far as unstoppable domains yesterday I was talking about that unstoppable domains was going to have their dot wallet you were able to buy instead of like having a dot crypto dot zil dot coin now you can have like a dot wallet so instead of having that big long hash for your for your cryptocurrency address you could just say just send it to rob dot wallet and there'll be and you can send whatever most cryptos as you can send to it and I said it was actually went live yesterday sorry it went live this morning there was which I'm glad I actually to tell you yesterday because there was so much volume that it actually crashed the website but the website is up and just so you know if you want to get into that links in the description so instead of having somebody go hey what's your address oh it's 0x blah blah blah and having them email to you say what's your address it's air johnson dot wallet or whatever or joe blow dot wallet and that's it so that's what you got anyhow so sorry about that little uh foobar our little error so let's get into the big news e2.0 so real quick um this is an ongoing process and um just like we you saw in the title in the thumbnail this is big news I think it's big but it's not like the end all be all this is a long process for Ethereum I for one I know people say uh Robbie just a big shill for Cardano that's true but on top of that I'm also a big shill for Ethereum too because on this channel I'm pretty biased and everything I talk about is exactly what I own so I own a lot of Ethereum actually one two and three my portfolio Bitcoin Ethereum Cardano so uh it's not like I don't like Ethereum I just think it's got its air it's uh it's problems and you know everything's got its problems I think they'll fix it at some point but the question is when we'll hear is a step in the right direction so what do we have here so I'll tear upgrades set to activate on Ethereum mainnet they say this month that actually it is tomorrow this is an old article October 5th but uh the upgrade represents a low stakes warm up to prepare for the beacon chain we'll get that in a second developers and client teams for the coming merge we'll go over all that stuff so this is what's happening the upgrade represents low stakes to prepare beacon chain developers and client teams for the coming merge when Ethereum will transition from proof of work to proof of stake everybody's waiting for this but in all honesty the Ethereum foundation really has to it's like changing the engine while you're going down the highway kind of tough to do because everything's in full motion and that's what exactly what's going on it will provide the beacon chain with an increase just one part in slashing severity and cleanups to validator rewards so slashing severity if you're a validator and you're not aligning long enough they will they have these slashing rewards or if you do some kind of like unnecessary type of actions then they can slash your rewards used to be 0.25 now it's going to be 0.5 so it's a big misstep if you make any errors as far as validators anyone operating a beacon node or validator is required to update validators who do not update won't be able to participate in the new consensus and there's more information how to update known validators here i am not a validator i did not stake my Ethereum it was beyond what i wanted to do and want to lock it up for that long but people are making pretty good uh pretty good money just uh you know staking it but there is that part and then just so you know this is what validators can expect after this upgrade which is tomorrow october 27th so real quick just so you know that uh this is amazing to me the network participation rate is almost 100 for for this part right now uh totally staked almost 16.3 billion worth and here we go currently fully inactive validators lose roughly almost 12 percent of their staked ethereum after the upgrade they lose about 15.4 percent and again just like i talked about as far as like uh the slashing but the network the malicious behavior such as double sign or double proposing blocks will good find half an eth that's a lot of money after the hard fork activation instead of just a quarter eth which is still a lot of money i'll be honest with you as far as uh getting um reprimanded for things that you do so that is uh essentially what is going on so voltair or excuse me all tear not voltair that's for cardano all tear is the upgrade for ethereum and that is going to bring us into closer to the merge what are they talking about this is what they're talking about so just so you know these are the eth2 upgrades this is from ethereum.org i will link this in the description so you can see it so the beacon chain is already there uh that's already live uh the first eth addition of the ecosystem beacon chair brings staking the ethereum the groundwork for future upgrades and according to the new system the merge and i want you to notice that the timeline here estimate 2022 so i know people talk about like it's right on the corner it's going to happen those people are incorrect it's going to take a long time and uh it could be q1 q2 of 2022 and then of course for the next one shard chains uh that could be at the very end so the main net ethereum will need to merge with the beacon chain at some point because right now you got proof of work and proof of stake they need to bring them together this will enable staking for the entire network and single the end of energy intensive mining then when we get to the shard chains it'll expand the theorem's capacity to process transactions through our data shard themselves will gain more features over time rolled out in multiple phases so crypto i know some people look at crypto and they go this is just you know big huge get rich type scheme and it's not it's really it's the longest play it's a long play in a very short time i hope that makes sense because if you actually take a look at like traditional markets that's a really long play for some for some corporations and businesses but for cryptocurrencies the the projects that have a lot of staying power and lasting power they have a roadmap that goes out years into the future and they're doing a lot of great things and trying to bring things together we're just in i know people say we're in the third inning and fourth inning in all honesty i think we're still in the first or second i mean there's so many things that need to be done and haven't been done so that's what's going on with a theorem 2.0 let me know what you think in the comment section let's move on to our next piece these will go fast major bank urges ireland to uh to get going as far as uh cryptocurrency so bny melan urges ireland to adopt crypto rules before the EU regulations this is what's we got going on so reps and first of all who's bmy melan uh bny melan we actually talked about this a couple months ago bny melan to offer bitcoin services and bny melan is one of the oldest banks in the united states i think they're actually in the world correct me in the comments the bank of new york melan nation's oldest bank so there we go nation's oldest bank said thursday will begin financing bitcoin other digital currencies it will eventually allow digital currencies to pass through the same financial network it currently uses for more traditional holdings like us treasury bonds and equities interesting just like all the other smart banks that are doing things but who cares this is why we care it's because bny melan has 2.3 trillion assets under management that's why we care if these guys had like we got a couple million assets under management i wouldn't be talking about them oldest bank old money some may say smart money but they got a lot of assets under management that could flow into our market and that's why this is a big deal but what they're trying to say here is like look ireland we need you to uh step up and actually put forth what you want to do with cryptocurrency and not leave it to the EU if the EU comes in and does a blankets uh regulation it's not going to be good so this is what bny melan say they go look while you recognize that the european commission's crypto asset markets proposal aims to create a separate regime for assets crypto assets that are european level given the time frame for this legislation action to come into effect the national regimes quickly begin to fill up the gap with their respective jurisdictions and we believe ireland should follow suit so then bny melan expects new regulations come into effect in 2023 and one of their examples is if you can either wait for EU or you can do what the germans did we just say you know we can do this we can bring forth as far as crypto and we'll make our own regulations for our country EU you can have a great suggestion but this is what we're going to do and then lastly this was actually from ireland they said given the accelerating change happening other jurisdictions and to meet the changing needs of clients for digital assets we would be happy to have a clear and comprehensive strategy to create an ecosystem of assets and i think it's a good point to make that first of all it's kind of amazing to me the banks are coming in and saying you guys need to get regulation because you don't want to be like you know some other countries remain nameless that really can't get their act together get things done now until the union comes in and says are you EU and says do it this way you're not going to like it get it going before they do it and then lastly i didn't mention this this little sentence right here this is i think the biggest part the importance of securing a talent pool in the country's crypto and blockchain space and this is what bny melan told the irish legislature or the people in charge said look if you want to get this going you have to first secure the talent because this is going to be such a big thing and the talented people that are in blockchain and really know what's going on they're all being snatched up by big companies and entities so secure this net worth now because the most important thing you can get is the people that can bring you into the next stage so let me know what you think about that from the comment section let's move on to our last piece which is pymco so pymco uh another join assets that are management and i'm not going to read the whole article because it's kind of boring but it's it's another this is amazing to me it's just another asset manager that says we want to get into crypto which seemingly this is like every day this is actually five days old i don't care about this part what i care about is this last sentence right here actually this was from where is this pymco's chief investment officer daniel ivison nailed it it says here and this is amazing that i actually admit this but he's right he says you have to understand decentralized finance because it will be disruptive and it very well may disrupt our industry in our business in particular so this is the first time i have ever heard anybody in these type of institutions go you know what defy is a big thing and we need to get on board now before we get blockbustered and i just thought it was a resounding happening that's going on in our market so look that's what's going on there's nothing but good news out there i'm pretty happy about how things are progressing but let me know what you think in the comment section but that is it so if you stuck with me all the way in first of all thanks i appreciate it if you like today's video give it a thumbs up consider subscribing things are going to accelerate more quickly over the next two months so try to get as much information as you possibly can that's it for today so thanks so much i appreciate it see you in the next one