 Watch out for the crypto projects that build in the bear because they will crush it in the bull And I gotta tell you there is no better time than right now because I know some people will say that This is a this is just a very prolonged bull market doesn't feel like a bull market And I got to tell you some of the things that are going on behind the scenes Makes me quite bullish even though the sentiment itself is not too great And I'm gonna talk about three different projects, of course We're gonna talk about Solana, which I know some of you absolutely despise But it is what it is talk about a theorem and then everybody's favorite get into Bitcoin So the first piece I think people can talk about it lately Especially on YouTube is the Twitterverse and all those different places, but I am right now in South Korea So my time frame is a little bit messed up But this is what I've learned and how things are progressing. This is from business wire It looks like Visa is expanding stablecoin settlement capabilities to merchant Accrivers and on top of that it's gonna be using Solana So this is what we have visas expanding its stablecoin settlement capabilities to the high Performing Solana blockchain and it's working with merchant acquirers world pay and new V VISA's already moved millions of USDC between its partners over the Solana and Ethereum blockchain networks the settle fiat denominated payments authorized over vSNET and This would be to meet this was a big story anyhow but it really hit home today as I was Taking different taxi cabs and paying for things here in South Korea fantastic food fantastic people and One of the things about that you have to understand about payments And somebody I really considered there's when you actually purchase a pick you want to actually purchase a product or a service Or a good or whatever else and settlement when I purchase something Let's just take a taxi cab driver when I purchase something it's instantaneous, right? I give him my card they run it through boom everybody's paid from what we think it is but there's actually another layer of that that's the settlement and Settlement is expensive and it takes a lot of time for the money from my account in my bank USAA To go over to the merchants account who will be here. That's gonna take a lot of work and effort and cost So to actually reduce that would actually be a great thing and what visa is doing which is you know lion's share of what's people are using for for payment processors is they're going to use Crypto behind the scenes and one of the ones that they picked On top of USDC the stablecoin and of course me a theorem network is Solana and what this says to me is I know people like I said they hate Solana because Bro, it's a it's a totally Centralized network and it always goes down all the time and just awful. Well Visa must have done it's a homework because they picked it So I know people may say that they you know, they hate it and whatnot and it's just awful But you have to look behind the scenes to go which ones are winning in the background Which ones are building and I don't really care. I'm agnostic I'm not here to change the world here to change my bank account And if Solana is gonna be the one one of the ones that are there so much the better Now does this this is mean that's long gonna take over the world? No But it's a step in the right direction to pay attention to what's going on I think so this was actually from quote from Kai Sheffield Nailed it head of crypto VC says by leveraging stable coins like USDC and global blockchain now works like Solana and Ethereum We're helping to approve the speed of cross-border settlement And providing a modern option for our clients to easily send or receive funds from visas Treasury visas Commended to being on the forefront of digital currency and blockchain innovation and leveraging these new texts to help improve The way we move money now Does this mean that this is the only thing moving forward now This is just one of the different of the many options that are out there I know people are gonna ask me about cross-border payments. That's only some XRP should do look XRP can't do it all That's what you're into So with these companies moving forward with different places and different projects like Solana I think it's something to sit up and pay attention to and say you know what if it can Produce this settlement if it can actually have the the TPS that is high and if it can stay up And it's a begins to actually, you know, pick up these partners This might be something to take a really harder look at as far as investing and again I don't care if if you if you hate it or not It's it's up to you to take a look at this information and to me I think it's a step in where things should go and on top of that Solana I just this is from coin shares year-to-date inflows Suggest it's the most loved altcoin now. Let's be honest a lot of altcoins including Solana are down massive, so It's not like this is you know, this is gonna turn things around I think Solana is down over 93 94% for the year and we took a look yesterday at Some of the biggest bag holders and unfortunately Solana is way down from its high of two hundred and twelve dollars That mean we can't rally Just take a look so Solana and this is from coin shares report trading volumes for crypto investment products Just products in general for the week ending September 1st were 90% Above the year-to-date average it marks a seven week run of negative sentiment that's seen 342 million leave Crypto products over that time but year-to-date investment products remain net inflow positive 165 million and We want to take a look at which ones are net positive Outflows haven't affected Solana products. However The saw weekly inflows of seven hundred thousand dollars. I guess that's somewhat positive direction Ninth straight week in a row with inflows of a hundred of fourteen point one million over that time and white year-to-date inflows of twenty six million dollars Bitcoin products for the only other assets to see weekly inflows besides Solana towing three point million Short bitcoin polygon and ETH products all recorded weekly outflows So why is it such a big thing? Again There are narratives out there. It's not just all about ta. There's actually, you know Some narratives and some positivity of people that are building September 1st maker Dow co-founder rune christiansen submitted a proposal to build the project's upcoming native chain off a fork of Solana's code base despite its long-held Relationship and ties do Ethereum August 23rd is reported that Shopify Added Solana based payment network Solana pay starting with the stablecoin USD coin Solana network has also seen some performance reliability improvements with only one outage in 2023 so far. It's pretty good Again, people will say but it's it's outages all the time I think that's the narrative that we've seen before now. We'll see if it can keep up as people use it more and more and more But so far in 2023 has only been down one one time. I like this last sentence Take this with a grain of skull Solana's price is up around 95.5 percent year-to-date 95 almost 100 solana's price is up almost 95 But it's traded mostly sideways around 20 to 25 dollars since mid january However, Solana is down 92 percent from its 2021 all-time high I'm nearly wow is wrong 260 bucks So right now you're looking at a price of around uh 15 20 dollars somewhere around there for Solana Just remember that from its all-time high to where it's at right now It's a pretty undervalued asset. Does that mean that you should uh funnel into it? No, but I will just tell you this Solana is one of those projects that I dollar-cost average every day Now does that mean that uh, it's going to be the end all be all no But again, I think it's time to take a look at so Let me know what you think about that in the comment section. I'm sure it'll be uh spicy for what you say and on top of that I think this is more good news Just optionality metamask Is going to have a cell feature Which are going to be able to turn ethereum and ethereum based products and l2s in the cash Right within metamask Here's what we got so metamask wallet owners can now cash out of their ether With the press of a button conveying their holdings into into straight cash fiat currency For now, it's only us dollars euros and the british pound are supported, which is pretty good And we get three different fiat's Initially only ether Or ethereum may not could be cashed out but metamask does have plans To expand the other layer two networks and assets layer twos Maybe an arbitrum Maybe a polygon all that's a sidechain. So we'll see Metamask didn't elaborate on which layer two than tokens it plans to support or what timetable, but it is in the network There are four known crypto fiat off-ramps that metamask is working with including moon pay Transacts rd and banks out. These are the ones that can allow that for you to Turn your crypto into cash if you so choose. So I don't know why you do that, but uh, everybody's got their own thing Each of these services will offer real-time quotes to users like to who like to sell ether once the user selects providers They'll be redirected to a website And they'll have to link to their bank account. So again, if you're into that That's not my thing, but if you're like, hey, I want to link my bank account to my ethereum mallet or metamask Go right ahead and it looks like that's going to be Optionality for people moving forward. So that takes care of the solana that takes care of the ethereum news Let's go to everybody's favorite bitcoin and There's good news in the horizon. It looks like the sec. This is from gray scale They have no grounds to reject the bitcoin etf conversion. This is just a quick little snippet story that uh gray scale's legal team wrote in a letter to the sec yesterday And it states after the commission has had the opportunity to fully analyze the court's opinion in light of the record Including the reasons for rejection set forth We believe the commission should conclude that there are no grounds for treating the trust differently from etps that invest in bitcoin futures contracts and again This was a decision going in gray scale's favor, which I thought was pretty enormous that they said look There's no difference between futures etf and a spot etf. So you should allow this to do that And and what people are saying is that because of the court has Has decided in that way that the sec will only move towards a bitcoin etf and it it is inevitable I personally think it just gives the sec a little bit more time to Give a reason as to another point of why they'll reject this bitcoin etf, but I could be wrong and uh We'll see how it all works out and it's not just Random people that think this this etf is going to go through Actually, everybody's favorite sec commissioner or former sec commissioner j. Clayton Was actually on record saying that the etf approval is inevitable I don't know why that he couldn't do it beforehand, but uh, here's j saying that it's going to actually happen This is a quote from cnbc and he states that it's clear that bitcoin's not a security I think even gary gunzara said that It's clear that bitcoin is something that retail investors want access to institutional investors want access to importantly Some trusted providers who are fiduciaries or have duties of best interest want to provide this product to the retail public. So I think The bitcoin etf is inevitable. The thing is with j and he knows is very true What the sec is saying is that the problem with the spot etf is the ability for manipulation And that's why they want monitoring and that's why black rock came out and all the different ones Bitwise arc fidelity came out and said okay, we're going to choose coinbase to use as to actually to absolutely cover this for monitoring Which will reduce manipulation. However, I doesn't make much sense to me of why they're going to approve a futures etf Why they can't approve a spot etf other than the fact that gary gunzara doesn't want to do it And the white house who he works for they'll say the same thing So I am in the minority. I don't think it's going to be approved, but we'll see everybody's against me. Even j clayton So We'll see how it works Hopefully it does but it does to me again. It doesn't really matter because I think the narrative is there he got some pretty big players who who say it And I will say that I think this is uh from looking at bitcoin There's a link in the description. It's 100 free. I mean there's some upgrades if you want to use it now But uh, there's this thing called the the rainbow chart The rainbow price chart indicator And this is just a logarithmic growth curve and just kind of takes a look at sentiment across across the board So when things are it's it makes things very simple of where you think that potentially you could sell or where you should buy And I just was perusing the different Charts and it's it's pretty good. It shows you like when things are way massively overheated 2011 It did great job. It doesn't 11 2013 17 it nails it perfectly But it could be looking retroactively Didn't do such a good job in 2021 when we had that double top But I will tell you what it really is good at is for when things are bottoming And a good time to accumulate over time now. I can't tell you what to do. I'm not a financial advisor But you can just see that When it's cold and cooling off This is in 2015 it was uh You know, you had a high and of in 2013 of gosh, almost over a thousand dollars And it dropped over 80% now you're like 229 218 great time to accumulate And then 2017 overheated and then figured out that hey a great time to accumulate was Around march 18th march march 2020 and that thing called coronavirus came about and bitcoin was only 5,400 And now again, let me zoom in There's been very few times when it's gone below the blue level and That just happened in december and november On the bitcoin christ was 16,510 now does that mean it can't go lower? No, but I think we're pretty darn close to what it is And unless it drops off the cliff and we talked about this and video a couple of days ago We took a look at the macro factors the difference with the sec What could potentially happen with the etf, but I mean if we're looking at the bottoms Maybe the bottom is in I still think it could go lower, but I mean if we're taking a look at different charts We're can see that things are pretty cool off. Does that mean it couldn't drop below 16 again? No, it could happen again, but This is why I dollar cost average. I think that q4 can be pretty bad if we go into recession, but things are looking I mean reasonable for dollar cost averages like myself But there is some things that concern me and lastly Coinbase I I don't know why they're doing this other than it's a nice way to make money Coinbase creates a new crypto lending service geared towards large investors. You know, we also did lending services Blockfi and celsius so This just is uh, it's concerning to me because I thought coinbase was going in the right direction and uh, just doing different services like coinbase one where you could sign up and Reduce the amount of fees that you have for a for a monthly fee works great now. They're gonna lending. I just think it's too much But here's what we got So coinbase created a new crypto lending service in the u.s for institutional clients helping to fill the void Left by blow-ups affirms like genesis and blockfi and workouts are great for them Platform was quietly revealed in a u.s And the sdc commission filing on september 1st which showed 57 million and already been raised for the program again Money's a powerful drug and when you have that much and people want to buy it you're like sure come on in So clients can lend coinbase money predominantly crypto assets and get collateral Exceeding the value of the loan that's exactly what celsius did celsius. I still believe was a Ponzi scheme, but whatever Such over collateralization acts as a safeguard from disaster Same thing happened with celsius block fi. I think that was also the same thing Point coinbase can then turn around to make secured loans to institutional trading clients I came to the prime broker services banks providing traditional finance Of course, this was an issue also with three arrows capital. So maybe we learned our lesson It's not going to go back the same way, but who am I to say? new service differs from the controversial lend program that coin coinbase cancelled in 2021 That was pitched at retail customers sdc didn't like that at forts and of course there wasn't enough Disclosures and gary wanted to protect everybody harder. So that's what we have. Good luck to coinbase. I think that's a mistake But what do I know? And that's there for today. So look everybody Thanks for stopping by and if you like today's video, give it a thumbs up consider subscribing if you talk about his time sensitive And now if you're so akin to stick around I'll answer all your questions the best of my abilities And we'll go from there, but that's it if you got to take off. Thanks for stopping by. See you guys in the next one