 Welcome to the last set of news like a top stories in crypto and bring out a bite-sized pieces today just the thumbnail suggests Bitcoin City is going to happen and it's going to have a lot of big perks such as no income tax no personal tax and no capital gains tax. And we're going to take a look at exactly how that's going to be built and how the money that's going to flow into it especially with crypto is going to be massive. Also we'll take a look at Blocktopia and Solana getting on board which is all based on polygon. We're going to talk about a billionaire one of the early crypto investors is dropping Ethereum and we're also going to talk real quick about the show DCA today. So we'll go over all those things but first take a look at what's going on in the market today. Beautiful day Sunday nice day here in Puerto Rico and we've got a pretty good market cap nothing fantastic but we'll take it on a Sunday we're at 2.66 almost 2.7 trillion depending on where you look at and the sentiment is neutral. I think people who are been in the space for a while we know we're like that was a big dip in a pullback but it's okay because you know as time goes on we know where things are going to go in the future and that's what we're all here for. Bitcoin price still below 60,000 between 9.4 and as far as like the coins as far as like what has been going up Ethereum is up around 4,300 4,366 and 24 hour changes there's no big winners Solana still on the number five spot it's pretty good Avalanche 14% and they are making big gains we're going to talk exactly about that today crypto.com continues to massively overperform 28% as they land that deal with to replace the Staples Center in LA and they're going to be a multi-year deal for like 400 million dollars so crypto is alive and well and it's going to just gobble up everything. So the big thing that I want to know though is where are we in the cycle itself and for that I like to take a look real quick at just some on-chain analysis so crypto quant if I'm going to take a look at where we are as far as like price action if we take a look at the at the reserves for all the Bitcoin that's out there all the different exchanges we see that yes we are still seeing people taking off Bitcoin that's that little purple line right there off of the exchanges and holding on to it they're not selling even with that massive dip people are like what else you got because I've been in this game before I know exactly what's going to happen. ETH is even more of a play as a ton of ETH has been taken off the exchanges as people are using as for utility for gas gas prices for staking it for Ethereum 2.0 NFTs everything you want to do Ethereum you have to do it with Ethereum unfortunately and those gas prices are getting astronomical all exchanges take your buy vans this is just what tells us that as far as like whales and big individuals and just individuals in general are doing to push the to buoy the price and we see right here blow this up a little bit we see right here as it goes down there was a big massive spike in people buying because you're like no no 58 57 56 somewhere around there we're not going to let it go below that because it's just a valuable asset and they picked it up and now we're almost at 60 000 and then this is the big one to me and this is the one to really really focus in on which is the all exchange estimated leverage ratio for all the exchanges out there although all the the leverage plays that are going on as far as the play and as is explained to me for CryptoQuant by the CEO of CryptoQuant the Keyungju once we start to hit the two it is like massively massively over leveraged and we hit that number on the 14th of November today we're looking at the 21st it is subsided a little bit but we're still at 0.19 so people are still playing the leverage game so expect some more volatility but not like it was at the all-time highs people got liquidated and unfortunately if that was one that was you had to happen because that's what we need to push us up to the next level then lastly the market value to realize ratio and we're not even near the 3.5 which is at the very top and we're not near 1.0 which is the like the bottom bottom so that's just kind of what we see as far as on-chain analysis also if you want to take a look at where the top is we can also take a look at the pie cycle top indicator pie cycle top this was been right four times retroactively yes it was three times to the last one it hit it on the nose when we hit when the 350 day moving average times two crossed over the 111 day moving average just just great information for you to know but this is all I gotta know once those crossover it usually signifies the top and that's exactly what happened on this specific day when we hit it at around 65,064,000 and then it just crashed on or had a big pullback I know when I say crash it was like it wasn't a crash it was a pullback make sure you don't say that sure whatever it was a pullback crash we want to say so then we we had a pullback and now we're just going back up again so we're nowhere near in my personal opinion the top I still see around 130k could be wrong let me know what you think about that in the comment section so that is essentially the state of the market let's jump in today's top story which is bitcoin city I saw this El Salvador does it again that's really what it comes down to the president Bucaeli Bucaeli I always say his name wrong sorry the guy's like a he's becoming a rock star in our space and this is what's happening El Salvador is going to create bitcoin city uses 500 million of planned 1 billion bond offering to buy more crypto so this was the president live it was at a at the crypto expo and you don't really see too many presidents on stage with their hats on backwards and just speaking to an audience like it's no big deal I'm like this guy this guy's like a rock star so this is what he said he goes look bitcoin city will be located along the Gulf of Fonseca near a volcano what could go wrong I'm just kidding so I don't think that's been a really active volcano but they're going to pull out the energy the government plans on locating a power plant by the volcano to provide energy for both the city and bitcoin mining the president said so first of all my question was where's the Gulf of Fonseca because guess what I don't know and it's right here so borders Honduras Nicaragua nice little area looks like right here so volcanoes natural resources looks good so then the city will be laid out in a circle like a coin and the city center will be a plaza that will host to be a big bitcoin symbol great that's not the big thing the city will have no income no property no capital gains or no payroll taxes let me say that one more time the city will have no income no property no capital gains or no payroll taxes well how do they do that well it's the same type of thing as what we've been seeing with Miami coin and New York City coin and what I believe a bunch of different cities are going to do as well which is where they have it on stacks which is a smart contract which is based off of the bitcoin network and they're going to be able to stake those types of things and actually pull off some yield and that's going to help to offset taxes. Mayor Suarez from Miami he said look he goes if we keep doing this we could reduce our taxes for the entire city by 25 percent now that wasn't that was an extrapolation I don't know if it's actually going to go through but he said we made a lot of good money just by using this type of system so when we have something here it's the same but a little bit different and what we're seeing here is that El Salvador plans initially a one billion dollar us bitcoin bond a tokenized financial instrument developed by blockstream on a liquid network of that amount 500 million is going to be used to construct needed energy and mining infrastructure then 500 million goes to buy even more bitcoin that will bring the country's treasury stash to just under 2,000 bitcoins and just in case you were wondering how's that all going well they do have 1120 bitcoin this with the dates that they purchased it september 6th the 7th the 20th and 28th october 28th and they purchased them at between 50 actually 43,000 and 58179 so on this last one october 28th they're right about even but the other ones I did this before bitcoin price today bitcoin price today is about what should say 59 yeah 59,000 I like wrong numbers it's not but just hang with me so before the difference they were pretty big now even with the dip the value today between the value it was the difference they've made just by making this just by making these these plays is 8,033,270 that's not bad for let me do some quick math september october two months you make $8 million and who knows what it'll be in the next month or two I think they could be they could be one of the greatest investors of all time by what they're doing right here so on top of that to get it all into the meat and potatoes uh samson maw block stream chief strategy officer the 1 billion in tokenized bonds will be a 10-year u.s. dollar denominated and pay 6.5% initially by the time 10 years has elapsed the apr will be 146% based on the prediction that bitcoin will hit a million dollars within the next five years but let me just say this and there's some other stuff here but uh gets kind of boring let me just say this let's say it doesn't hit a million let's say bitcoin just goes to 500,000 in two or three years let's just say it goes to 250,000 so instead of 146% if you divide that by four because we go from 9 to 250,000 just to look at around 31% uh apr so it's a little bit better than actually putting your money into a bank as far as bonds uh i don't need to laugh but it really is laughable so if you if you have a bunch of investors like yeah sure we'll take that bet we'll leave in the future and that could be a pretty big play for a lot of people and on top of this when we uh the last part was pretty good it says El Salvador is hoping that by taking so much the crypto out of circulation for so long it helps to contribute to bitcoin's price appreciation which makes sense right we see the same type of demand or more but a lot less supply like we just saw with bitcoin and ethereum and a ton of other different cryptos that are being taken off the exchanges and also if you take a look at this for bitcoin treasuries and you we can go through all link this in in the description you can check it out yourself but it just breaks it down by uh ETFs private companies countries and uh public companies if we see right here we've got ETFs countries public companies private companies the total is around 1.5 million worth of bitcoin that is pretty much locked up especially if you're a micro strategy or if you're a grayscale so if el salvador is doing the same thing and then people like you or i you and i are doing the same thing we're just locking things up and different institutions and funds and i mean who knows what other kind of country they're gonna get into it they also lock it up how long do you think before bitcoin does reach 150 250 500 1 million i think that's the big question so that i think is a pretty bullish news let me know what you think about that in the comment section let's move on to our next piece we talk about blacktopia and solana so as you know i've been talking a lot about the metaverse i think it's the next big play i think it's a two or three year play if you just kind of sit on things and uh i've already done my dollar cost averaging from 2017 2018 19 2021 now i'm looking for the next thing and uh this i think could potentially be it but so with the metaverse not to get off topic is that look at who is investing in the metaverse we just saw that gemini yesterday is dumping in 400 million dollars the bank of australia is also getting in on that purchase and you've got a lot of different players getting into the metaverse you've got a microsoft uh you've got an nvidia you've got and you got facebook but i mean everybody is getting into here they kind of know where things are going and solana is no difference so solana is a new tenant over at blacktopia i don't know what blacktopia was so i'm going to link this in the description as well you can you can take a look at it it's a pretty cool looking place i'll be honest with you pretty slick it almost looks like uh the ready player one or you know any other types of like metaverse plays you can think of there's a lot of things going on here but what really struck me was first of all the amount of big names that are involved in this one i mean also you've got the gambling and the nfts and all that good stuff right but the thing that really offsets it with the metaverse is if is if you're built on the ethereum and nfts it kind of weighs things down because it's kind of expensive but guess what this one first of all it's built and backed by polygon and second of all instead of just walking around in your in your browser it's going to be a virtual reality type of one so this i'll be doing more in-depth analysis later on but the big play that i see again for the metaverse is land i don't know exactly how everything's going to work out as far as like the games and the gambling i can't get into gambling i'm an american citizen so it's not going to work out for me the land if you're want to really get into where people are going where their eyeballs are that's where all the ad revenue is just like in the very beginning it was radio and that was where everybody put their ads on and then it was the tv that's where everybody put their ads on and that's where a lot of money went to and then it was social media and now just like you saw a bunch of ads on youtube that was laughable 10 years ago what someone would be like you're gonna put an advertisement on the internet that place that's uh that's built for structures and all the people that will scam you out of your money and elicit activity and drug cartels the internet yeah same thing again so i see this is a pretty big play we'll see how it all unfolds but again if it's built on polygon you know things are pretty cheap and i like that and you know let me understand about the comment section and we'll finish up with uh dropping a theory this was uh pretty good before everybody gets up in arms about it let me just listen to the whole story don't be uh too judgmental yet i'll tell you why so crypto billionaire abandons ethereum and here's why so this was from uh zusu i hope i said all right not i'm not really good at this but he says look uh this was on november this was yesterday he goes i have abandoned ethereum despite supporting in the past in the past yes ethereum has abandoned users despite supporting them in the past the idea of sitting around blank off watching the burn and and con not concocting purity tests while zero newcomers can afford the chain is just gross and you have to understand that uh uh this guy was a pretty big uh proponent of ethereum was really out there but uh just know that earlier today uh an ethereum address associated with three arrows capital sent roughly 77 million dollars worth of eth to the ftx exchange so you might have seen like a little bit of a dip but didn't really seem to do too much because ethereum's actually up in early november three arrows capital was announced as one of the investors in blizzard a new fund whose purpose is to promote the development of avalanche so you can take it with a grain of salt but there are some things that they that they say about ethereum and remember like these guys have been uh they're like one of the bigger this guy's one of the one of the bigger investors in a crypto but they do make some pretty good points as far as like he says right here ethereum culture suffers massively from the founders dilemma everyone is already far too rich remember what they really set out to do perhaps a bear market doesn't need to remind them or perhaps we must build elsewhere but this is what it is again you can say it as like well this is just a person who wants to get rich off of avalanche or you can just take a look at and go well you know those ethereum gas fees are pretty darn high so i would love to hear the discussion in the comment section what you think about that and then to finish up we'll talk about dca today so uh just so you know it's going to be me and james as usual i'm going to rotate guests and it's uh uh mr cohen benjamin cohen from uh into the cryptiverse so that will happen uh seven gmt sunday 11 a.m pacific time if you're in the states so for me in portorica that's like three p.m so i'll see you there uh for dca i'll try to put the link if uh james gets it to me in time but that's it for today so look uh if you stuck with me all the way if you can first of all thanks i appreciate it if you like today's video found some value give it a thumbs up i'll consider subscribing everything we talk about is time sensitive that's it for today so thanks so much for watching i appreciate it see you on the next one