 Welcome to Digital Asset News to get top stories and cryptocurrency assets and break it down to bite-sized pieces. Today is another great day for the market as we continue on with this impressive bull run starting with these three stories. So first up Binance launches Cardano and Cosmo staking and it sounds fantastic until you see the rates and you have to think to yourself are these really sustainable? On top of that we're going to take a look at the Federal Reserve Bank of St. Louis is taking a close look at Ethereum DeFi. And at first glance when I took a look at this article I thought to myself well this would be negative and otherwise bearish but it is the exact opposite. And finally of course as I always say news moves the market Dogecoin spikes after Elon Musk says he bought some for his infant son. So we'll go over those three stories but first take a look at what's going on the market. Actually first what I want to do is talk to you about tonight we're going to do a live stream and what I want to do is go over three or four different portfolios that have been sent in to me by subscribers. Just take a look at what they have and any any suggestions of what I would do if it was my portfolio. I can't give any financial advice obviously or take a look at those and we'll do a live stream. Now we've done live streams in the past didn't go so well because we had to upgrade our modem and server and all that good stuff and now since we are running on Wi-Fi and everything is hardwired in I think we should do a little bit better. So look for that tonight I'll let everybody know in a notification hopefully YouTube will do their job and notify all the subscribers. So if you haven't subscribed this will be the time to do that. Anyhow let's take a look at what's going on the market today. So again not too bad right. We got Bitcoin at almost 45,000. It had a pretty good run up at 48,000 but we're down a little bit. There can only be so much euphoria from Elon Musk saying he is going to buy Bitcoin and I have to tell you I gotta tell you it was a genius move not just on the fact that buying Bitcoin how great that is but if you saw the stock price of Bitcoin or sorry the stock price of Tesla you'd notice that it was like up 5%. So just the 1.5 billion that he put into Bitcoin which is going to go up I think tremendously. He also got a nice little pump in his stock prices so I thought man that's like a two first so good for you. The same thing happened with Joe Rogan when he went over to Spotify. They offered him like a hundred million plus dollars unconfirmed and in like that first 24 hours their stock went up by like 10%. So you know what if businesses see what they can do not just with how they can actually improve with Bitcoin and the appreciation of the price but they know that there's a lot of smart people out there a lot of smart stockholders. They can go wow we can just do a double dip we can buy Bitcoin our cash won't be on fire and our stock will usually go up. That's like a 1, 2, 3 win. Maybe we should do that. I don't know not financial advice to you if you're a corporation but it makes sense to me. Anyhow Ethereum just below the 1800 all-time high it's not too bad because Heather Cardano is the real story today and we've actually covered Cardano actually a lot more than we have in the past and there's been some some great stories first we covered this a couple of days ago where Cardano was talking about getting a massive government contract from from different countries in Sub-Saharan Africa to put them into onto the Cardano blockchain, decentralized finance, decentralized identification and I mean if you have something like this and you're taking a look at like the network effect that is huge. So on top of that now we're going to be talking about further staking and the actual amount of what it is it's going to be huge. So Cardano if you haven't gotten a board I can't tell you what to do but you might want to take a look real hard look at that. Anyhow XRP is up don't know why but it is 8% I don't think there's anything different I know people have been been talking to me about the SEC and what is going on and there's been some some give and take with the SEC so maybe that's a lawsuit may just go down to mediation not for sure and if that's the case then congratulations XRP holders you did it anyhow polka dots up for a percent Binance coin and we covered this yesterday Binance coin is a juggernaut and the reason why the juggernaut is because they do so many great things for the actual exchange. So if you have a lot of Binance there are BNB coin you can reduce your fees you can get into a lot of different things there's a lot there's rewards programs and then we're going to talk about staking I mean why wouldn't you hold Binance coin this is one of the things that we talked about I think it's going to be I can't give a I really can't give a price prediction of Binance coin but I know I mean double is definitely within the future definitely this year 2021 that can't be a price prediction sorry like going up 3 11 12 percent for doge and these are really the whole big things because doge only went up 12 percent because of why because of news and also speaking of which I'm using trade the chain and we always talk about how we use this for a sentiment analysis and actually I get all my news stories these days just untrade the chain there's a little button here on the right it's not popping up right now because I'm I'm compressed but all the different news stories comes up and every news story that I have right here is all taken from trade the chain so if you want to take a look at this there's a link in the description and check that out on top of the one hour projected ranges I like these because you can see what could potentially go up in the next hour and you know they got a 90 percent accuracy rating for from the tie so yeah check it out that's it but let's just get into the into the big stories because this to me I feel is enormous so Binance coin or Binance excuse me much as Cardano and Cosmos what's going on here well you can see it right here this is it Cardano you're going to be able to stake at almost 22% 22% I can't make that up that's crazy Adam at 25% I always thought Adam wasn't really doing too much I didn't really you know see I know it's interoperability kind of like what we have with polka dot so good for that but it looks like they're making some grounds and if it's good enough for Binance to go you know what let's take this and let's give you this much this much yield for staking that's pretty amazing now let's get into it though because it's not just about just staking so it's a locked baking service so it's not like with Cardano is much different for staking as opposed to Ethereum in Ethereum you have to lock it up and it could be for six months a year or two years there's really no really set date on that one and if if you lock it up and be a provider has some kind of issues with it not being up in time you could have your rewards slashed but not only sorry not even slash rewards you can have your Ethereum taken away as a penalty not the whole thing but you can have parts of it taken away so it's a it's one of the reasons why I did not stake my Ethereum even though the yields pretty good the yields like 9% so like that's pretty great but Cardano is totally different when you stake with a Cardano pool a Cardano pool operator you can put it into that staking pool you can take it out immediately you can leave it in for as long as you want to you get rewards paid out every five days and you can do whatever you want to it so there's no lock up here anything like that the difference is is that with that when you get four to six percent so you're probably like well oh I did that I get this 21 percent genius hold on so it's a period of 15 days with oh excuse me the lock staking series we offer for a period of 15 days 15 days with a maximum amount of a thousand eta and 50 atom so you can only stake right now a thousand eta and that is it so I mean if you've been here for a while some of you guys got like a ton of eta and that's not too much but hey a thousand eta over there not too bad 22% lock it up for 15 days and off you go further uh standardized annual annualized interest will be almost 22% so great uh coronal stake pools currently offer a little over five percent delegation rewards actually the average is between four and six percent in fact over this year Celsius network had also announced that it would be adding eta to its list of assets in q2 2021 on top of that Celsius has also said that they are going to be taking their Celsius token and putting it on to the cardinal blockchain so they are moving away from Ethereum and then on top of this just so you know um we here at D news our digital asset news have a staking pool called D news and there is a link in the description it's one of the very first ones after the description of the actual video which will take you to our web page where you can find all about it and then if you just click on here let's compress click on wallets we'll just scroll down you can scroll on yourself watch this 13 minute video we explain exactly what we are what we do and how we uh guarantee rewards because we use the Microsoft Azure network uh one of the most trusted uh also one of the most expensive to actually use and uh we've been having a return on a return on ad spend or turn aspect return on spend of eta uh almost 5.46 percent so we're in the upper upper threshold of that so if you have an a to the stake uh that would be a fantastic take a look at that but to get back here this is so not only did we talk about this this piece here Cardano is going into Africa Charles Hoskins isn't talking about he's very bullish on uh decentralized finance and Africa animations we talked at length about this one but this one caught me for a loop because it says grayscale recently incorporated five new trusts for cryptocurrency assets I believe Theta is one of them according to a Delaware corporate registry filing on 27 January Cosmos and Cardano Cosmos and Cardano were part of these new trusts suggesting that grayscale might be gearing up for some new product launches near the near future so isn't that interesting so Cosmos and Cardano are part of grayscale finance comes in here says you know what we want to do Adam and Cardano then you've got Celsius now we're going you know what we're going to switch to Cardano and you see the the theme that just keeps going on here it's the same thing over and over again it's Cardano Cardano Cardano and this is one of those projects that is it's a really a slow burner and it's taken a while but here we are and is absolutely blasted off so I think 2021 is going to be a pretty great year but the real question that I have is first of all is Binance how are they going to be able to do this how are they going to be able to give you almost 22% for staking I think if it's just like Celsius where they're going to be able to I mean they say you're going to be locking up maybe they're going to lock up themselves or maybe they're going to be doing some type of interest yield bearing with loans maybe they do what what Celsius does is they loan out your cryptocurrency and then you have all these different hedge funds and institutions making money off it in one of three ways either they're shorting it there is a market they're becoming the market maker or there's an arbitrage opportunity it's one of those three things kind of like all the time so I don't know exactly what that is if they're really locking up for 15 days or if it's just like well we're just going to keep it here that's a that's for Binance to distinguish I don't think anybody really cares they're going to get 22% you know for annual return and the only bummer of this is that she can only do a thousand so let me understand the comment section and then let's move on to our next piece so next up this I thought for sure would be the most bearish article I would have read today but it's the exact opposite and Federal Reserve Bank of St. Louis looking at DeFi what do they say well on a February 5th report titled Decentralized Finance on Blockchain and Smart Contract based financial markets comes with warnings about smart contract security scalability and other risk factors but it's otherwise bullish and if you've been around for a while you remember the whole thing with the sushi swap and the master chef and all these different DeFi products that have fallen out of favor your own finances has had their has had their issues as well the flash loan crashes and things like that so DeFi sounds fantastic until it's not and then you have these instances of where DeFi could be just it could be a monster but the thing is there has to be so many things worked out before that happens and in that time a lot of people are going to lose a lot of money now do I think it's a good investment yeah I do because I personally have Abe I think it's it's a great project you can look into compound synthetics is next on my list to actually scoop up especially for the derivatives market but I mean in the beginning it's going to be a rocky road but that's what we're here for right we're not here for to be that stable there's a lot of opportunities out there and we have to take risks anyhow DeFi offers exciting opportunities and has the potential to create a truly open transparent and immutable financial infrastructure wrote Fabian Schar who's that well Schar he writes he writes for the St. Louis Fed he is part of the Fed he is a professor one of the different colleges and where is he at University of Basil Professor specializes in DLP or distributed ledger technologies so what he talks about he goes look at the beginning of last year there's less than a billion of value locked in DeFi protocols but over this year there's 38 billion so you got a 38x in a very short amount of time growth was spurred by major events one of those being the Uniswap drop and I remember when when Uniswap if you went around it's pretty great because all you had to do was just use Uniswap once and they you know they had your information as far as your wallet and they would say hey thanks for using Uniswap here's 400 Uniswap tokens and at the time was like only four bucks so you're like wow he's got $1,600 and some subscribers had told me that yeah they had used multiple wallets they had signed up multiple times one person had four different wallets so they had to do some quick math 1600 Unis and that's at $4 a piece and now Uniswap is right around $20 so not too shabby I would say but I remember when people were talking about Uniswap like I should just get rid of it's going to be worthless I'm like no I mean that's how you treat a community if you do great things like that and you just give a token worth you know real monetary value not some s token that just has nothing to do with anything that's huge and I said right then I will I will not sell this token I still have the original 400 Uniswap token but actually I added more anyhow Char noted four ways in which the DeFi ecosystem may benefit financial infrastructure accessibility composability efficiency and transparency of course we all know about transparency but composability and accessibility what's this so he talks about accessibility goes the infrastructure requirements are low and the risk of discrimination is almost inexistent due to lack of identities which makes a lot of sense right if you don't know the person no one's going on an application you don't have to look at background you're just like well here you go this is what it is then there really is no discrimination anywhere across the board so that is a good thing I never really thought about that that kind of technology allows quick transfers of tokens using smart contracts game changer right because with banks they suck takes a lot of days to settle and is expensive so if you just have a smart contract like here's a prime example have you ever bought a house or whatever you know investment properties it takes a it's a pain in the a because like you have to sit down you have to go the the mortgage broker go down there and go okay well here's a little paperwork let me send it off to this person they'll have it signed this and back and forth before you know what you have all these origination fees you're like what the heck is this all about why is this so hard and then all the recording fees so I look at all that I'm like there's no reason for you guys to really do this especially with what's going on with defi so that's what makes me excited about defi in that regard just admit limit the middleman anyhow transparency the availability of historical and current data is a vast improvement over traditional financial systems and it can help cut off potential financial disasters before they occur so when I was reading this I got confused because I'm like is this really the Federal Reserve of St. Louis talking about you know we want more transparency I was like really but I mean they want it sure I guess but who knows maybe it's a they're playing 3d chess with us I don't know but I mean think about it this way if you had a Bernie Madoff Ponzi scheme right and you could just take a look at everybody everybody could look at all the books that were open and they could take a look at all the transactions they would have seen that this was a huge Ponzi scheme and a lot of people wouldn't have lost so much money so I think in that regard yeah I can definitely see that but again I'm thinking when I'm looking at this I'm like really the St. Louis Reserve but okay and then lastly talks about composability the ability to create multiple products infusing together something new allows for expanding range of possibilities which is true like what we just talked about you know with like mortgages with like futures I mean just eliminating that the middle person and just getting a heck of a lot more done with a lot less expense so again I think DeFi will be big and there's a lot of other YouTubers that are bigger into into DeFi than the me. EleoTrades is one of them that guy's always talking about DeFi so if you want to check him out he's got some great stuff on what's going on and what is the next thing I kind of to me I kind of look at DeFi is like it's like the ICOs of 2017 but more legitimate because there's going to be a lot of DeFi products just like there's a lot of ICOs but a lot of them we're not going to make it and only the strong will survive but we'll see anyhow that's it for that let me know what you think of the comment section let's move on to our last piece so last up this is very quickly Elon Musk tweets about Dogecoin and Dogecoin goes up that's so this was a tweet he goes hey I bought some Dogecoin for little x so we can be a toddler-hodler it's pretty funny. Dogecoin's price started to climb one minute after Musk's Twitter post and topped eight cents before pairing the gains so if you were holding Doge congratulations I sold I had some old old bags of Doge I had totally forgot about in my nano ledger and I sold it all when I hit like seven six or seven cents I was like this is not I don't think it's going to go up to a dollar sorry if you think it is I don't think it is I could be wrong wrong all the time but I got rid of it and it's just an interesting thing like exactly what I say I do still believe that news moves the market when you have some kind of major listing it'll move the market we just saw what happened with Cardano moves the market Adam I'm sure that's up as well and then again try the chain is where I find all the news and that's there's a button right here I click and then off and that's what I found that Dogecoin thing I'm like that's interesting so yeah so that's it for today hey if you made all the way thanks for watching all the way to the end I appreciate it if you liked the video give it a thumbs up and then also consider subscribing because all these things we talk about are pretty time sensitive and then that is all for today if you like these types of videos I'm going to put two more up on the left and right I don't know YouTube do its magic all that stuff and that is it so I will see you tonight for the live stream we're going to go over four portfolios I'm just going to talk about you know what I would do and then also what the outcome can potentially be based on my price predictions for 2021 all right that's it I'll see you on the next one tonight