Ethereum Deflationary Era | Cardano ADA, Polygon MATIC, Google + Coinbase News

The possibility of a runaway inflation And one of the things you talked about Then was a hedge around using crypto and Bitcoin and your friend your friend Stan Druckenmiller had bought some Bitcoin at The time too uh Stan druckenville Recently had an interview with Joe Kernan Um at delivering Alpha said he’s out of Bitcoin where are you I’ve still got a very minor allocation I’ve always had a small allocation to it I think [Music] Hey guys happy Tuesday Matty here with Altcoin Buzz alright so let’s get right Into it we’ll come back to that clip That you saw at the outset in just a Moment but I want to really lead with This great news here news out of Google In a couple of different capacities so We’re here on first of all Google joins hands with coinbase to Accept crypto for its cloud services now Through its recent collaboration Google Demonstrates its support for Cryptocurrencies and crypto adoption has Been on the rise among Global Nations Actually have big news when it comes to Ethereum addresses that we’ll get to Later in this video several industry Giants are also tapping into potential Of web 3 and earlier this year the team At Google unveiled that they were

Building a team to provide services for Blockchain developers and according to The same batch of announcements Google Is purportedly planning to let users pay With crypto in early 2023 I think the um Holy Grail in a sense of cryptocurrency Integration has always been Amazon but Certainly Google is a great step in that Direction toward Mass adoption so the Tech giant revealed that it will let Customers pay with crypto next year the Announcement was made by Google at the Cloud next conference this is the new Collaboration which is going to help the Tech Giants stay ahead of competitors in The game yeah for sure so this Integration with coinbase Commerce Service is at the heart of this the Feature is going to be extended to Several users over time right now the Coinbase Commerce service accepts 10 Cryptocurrencies those include Bitcoin Bitcoin cash Dogecoin ethereum and LTC Therefore it would stand to reason that Google will integrate a lot of those Same assets those cryptos specifically In terms of their payment options and Google is moving on multiple fronts here This is something that you can check out It didn’t work for me when I tested it Out but maybe you guys can run your own Tests let us know in the comments below If it’s working for you so Han here at Hua well done blockchain address is now

Available in Google search so he’s Searching here for an ethereum balance Of a thousand and one eth really right Down to the what is that the 20th Decimal or something like I said didn’t Didn’t work for me but this is seems to Be something that’s being rolled out Perhaps only to a few users at the Moment you know that’s often how a lot Of the tech platforms do it a pretty Cool feature if and when it gets fully Fleshed out there is some good news Therefore but crypto markets right now Are shaky there’s no doubt about it and Despite Paul Tudor Jones that always has Some amount of Bitcoin allegedly uh Things are kind of shaky right now we’re Potentially going to be retesting 17.6 K But at least one technical Trader has Said that that has represented the Bottom that Bitcoin has bounced off that Bottom and that the bottom has been Attained in other words as I sit down to Record this right now we are just below 19 000 so about 18 900 per BTC I’m a Little bit surprised because it seems Like that Google News hasn’t had much of An effect on the market the markets are Just continue to be correlated uh with a Lot of the other indices and a lot of The other financial markets which Continue to hurt given all of the other Elements that we talk about on a regular Basis here on Kathy Woods

Has some interest and comments I’m gonna Get out of the way for you guys here and This relates to why the crypto Market is Crashing and it’s struggling right now According to some due to the hawkish Macroeconomic conditions which were Created of course by the Federal Reserve Now the crypto Market is currently or Maybe I should say seemingly very much Dependent on the Consumer Price Index The CPI which is going to be released on Thursday news in these last few months Hasn’t been that great last month for Example the release CPI was worse than Expected and of course that has a Negative cascading effect on all kinds Of different markets crypto and Otherwise it kind of used to be that in A sense negative market news in the form Of inflationary news was almost a boon To crypto because crypto especially Bitcoin used to be that hedge that store Of value that was the answer to Inflation but I don’t know it doesn’t Seem to have that effect anymore kind of Surprisingly that’s more decent but that One had me scratching my head the first Few times I saw it anyways the producer Price index that’s also going to be Released this month and if the released CPI and PPI producer price index are Worse than expected yes the market could Suffer there could be even more of a Sell-off in crypto it is possible and so

Definitely check out this piece on in addition to everything That we just discussed Kathy Wood is Also warning of deflation so the Opposite of inflation related to that is This piece of news related to ethereum Because now the supply has turned Deflationary which has really been a Positive goal kind of a checkpoint that Vitalik and others have been promising For a while that was very much what we All wanted to see but despite all of That the price of ether is still Struggling and you know unfortunately a Big part of that is the gas here According to block Works research so the Median gas price on ethereum is at Levels not eclipsed since June 2022 this Has sparked the first week of Deflationary eth post merge but what’s The cause well a few different reasons Here this is a thread that you can Explore but we’ll go through a couple of The posts first of all on October 8th There had been about 13 000 eth issued since the merge and today The total amount of eth emitted over the Past 25 days is just around 9.6 000 that’s roughly 27 percent of all Newly issued East post merge that is to Say has been burned why it’s due to Zen Xen which is a free to Min token that Rewards users with larger token Allocations who agree to longer claim

Terms so on its October 8th launch xen Consumed more than 40 percent of all Layer 1 gas fees on ethereum over a Three hour period and the amount of Mintable tokens is going to decline over Time the Zen token contract has already Consumed more than 2 800 eth of gas That’s just in two days worth of fees That is and there are many users and Bots agreeing to one day claim terms as They try to extract some profit by Selling xen with approximately 83 Percent of the xcn token Supply held by The top 100 wallets and just over forty Thousand dollars of liquidity on uni Swap it’s unlikely to end well for Anyone purchasing the token a free token Minting contract will lead to extremely Heavy cell pressure as indicated by the Xen price tying it all together and Lastly here more interesting than xen is The effect one random free token mint Has had on eth Supply flows if we Annualize the eth burn over the last 24 Hours we arrive at a negative 0.57 percent inflation rate in other Words deflationary bull market block Space demand could make eth deeply Deflationary but while we’re still on The subject of ethereum a quick positive Story here so ethereum has added 1 135 000 new addresses marking the highest Daily Network growth in 2022 in other

Words the fundamentals continue to be Very strong can read more about that on also positive news here for Layer twos so many of which we follow Regularly and we alert you to as far as Opportunities on this channel so Ethereum l2s are flipping Bitcoin and Lightning in Daily transactions alt Blockchains increasingly abundant with Eth L2 scaling major ethereum l2s are Flipping Bitcoin that includes lightning In Daily transactions in related news Here on this is sure To add even more daily transactions to Starknet so decentralized exchange uni Swap V3 gets warped onto starknet Ethereum native project like uni swap That are written in solidity can now be So-called transpiled to starknet Via Nevermind’s new warp project all right Now we have some cardano Ada new news Charles hoskinson the founder of cardano Is in the news here and he’s talking About what he didn’t like after the Ethereum merge and he’s highlighting the Issue specifically with ethereum and Bitcoin so according to hoskinson a Significant problem is the locking Mechanism which stops investors from Removing their staked ether from the Beacon chain until the next update is Finished he also said that this Mechanism heavily impacts eats liquidity And could eventually spark a liquidity

Crisis and additionally he’s criticized Bitcoin’s proof of work mining scheme Which he views as inefficient and Superfluous in the long term all right Moving right along we have this update From our friends over at ape iron and This contest announcement so at altcoin Buzz tweeting that we have 10 whitelist Spot giveaways you can check the link in The description for more information but Essentially you can get whitelisted in The upcoming ape iron nft land sale that Is happening on the 18th of October land Nfts are going to give you up to 800 Percent in annual rental yields to Participate follow at ape iron nft and Then like retweet and tag a friend best Of luck once again check out the link in The description for more information all Right a little bit of polygon ticker Matic news so first of all the ZK evm Public test net has been made available By polygon and it’s a major development For the ethereum community because it is The first zkevm to achieve a public test Net using an open source ZK proving System the test net is now available for Users to test and the project is still a Work in progress but polygon is looking For feedback in order to improve it and Eventually make the system more widely Available D5 protocols Ave and uni swap Along with other projects will be among The first projects to deploy on the

Zkevm testnet and the announcement Highlights that polygon zkevm offers Greater Capital efficient agency while Also enabling businesses to build fast Low-feed decentralized applications on Ethereum okay moving right along Singularity Dao has just been released Today October 11th and they’re launching A newly rebranded app alongside the Release of their latest Dyna sets and The transition of Singularity Dao from Beta to a live product includes building Out a D5 platform and these dynaset and That’s a dyna set connected to dydx that Can not only short Bitcoin and ethereum But also apply leverage to those trades Contributions to dine BTC dying if and The long-awaited dine d y d x is open as Of October 11th and will remain open for Two weeks 14 days a summary of all these New features and all the info that you Need to know about can be found here on we mentioned coinbase earlier There in the news with regards to their Integration with Google cloud services But also here on coinbase Is getting Singapore digital payments Token licensing which is another solid Brick in this edifice that we’re all Constructing together so good news and Finally pretty important follow-up here We talked about the big binance Hack That was mitigated very well as far as a Problem that was resolved quickly that

Was the other day here’s an update on The binance hack now the BNB smart chain Nodes temporary urgent patch version 1.1.16 that was made available by Binance developers on Tuesday and the Patch fixes the cross chain Infrastructure between Beacon chain and Smart chain now the more end hard Fork Upgrade for the main net that’s set to Happen on October 12th and that upgrade Will fix vulnerabilities in the iavl Hash check it’s going to introduce a Block header in sequence check-in cross Chain contract and make relayer white Listed to the Genesis as always lots Happening in this crypto space guys best Of luck if you choose to invest but Never ever official Financial or invest Assessment advice clearly I am not Qualified to give out that kind of Advice so just take this video to be Informative in nature I implore you if You’re still watching the video well Done be sure to like subscribe share hit The Bell to receive notifications also Check out these other couple of videos Here popping up to my left to my right Stay safe out there members of the Altcoin buzz Army have a great Tuesday a Great midweek and as always hope to see You again soon in our next video take Care