We Were All WRONG About Ethereum | Major Bitcoin, Polygon, Near Protocol Crypto News

When we look at at ethereum and and all These other products we are looking to See what is a commodity Cftc has long taken the position that Ethereum is a commodity The definition of commodity is very very Broad Um so I I you know I continue to take The position that ethereum is a Commodity even with a proof of stake There is so much happening in the news Right now first of all in the macro Sense between Russia and Ukraine and the U.S and NATO and other countries of Course that’s affecting Bitcoin right Now we were wrong straight up about Polygon it seems because we were Cautiously pessimistic I would say for The price of ether after the merge but We have some very encouraging Developments and some statistics that Are pointing to a probably more Optimistic version of reality than we Would have anticipated we also have news Guys out of app and we have news out of Polygon we will also explore near Protocol and coinbase development stick Around guys this is your altcoin Buzz News Foreign [Music] My name is Maddie and this is altcoin Buzz we are a crypto investment research Company quick disclaimer whatever it is

That we may talk about in the news today We always wish you the best of luck if You choose to invest but you’re not Financial or investment advisors Officially and so this video should not Be considered official Financial or Investment advice let’s get right into It I talked about those macro variables That are very much in play right now we Have this update from block work so the EU aka the European Union with this news Here they’re officially announcing a ban On all Russian crypto wallets accounts Or custody Services I think that’s going To be more difficult to enforce than the European Union foresees but nevertheless That’s what they’re announcing here Courtesy of watcher.guru EU announces Ban against Russian crypto assets and Services we have a poll running right Now on the YouTube page that is just About as close as can be uh you can say I asked this yesterday so it’s twenty Thousand dollars roughly approximately Is that the new Bitcoin floor price many Of you saying that it is 49 51 percent Of you saying no in other words it could Go lower but the most recent poll Something that I just posted 22 minutes Ago actually so here’s the question will Escalation between Russia Ukraine NATO The US other proxy parties is that going To hurt crypto more or less than it Would Fiat currencies because chances

Are it’s going to hurt the economy Multiple economies in probably multiple Ways but which is going to suffer more Is crypto going to suffer more or is it Going to suffer less right now 55 Percent of you are suggesting that Crypto is actually going to suffer more Than currencies like the US dollar like The Euro maybe than the Russian Ruble I Find that very interesting I think it’s Going to in the long run suffer less not A good thing for any Market in the Near-term future but I think long term This could be one of those Proving Grounds another Proving Ground Potentially for cryptocurrency anyways Let me know your thoughts to try to put A little bit of a positive spin on Things all the gains that we’ve already Enjoyed in October so far have erased September’s losses now of course we’re Only the 6th of October there’s a lot More of October to go but something as Far as a positive sign that we can Observe that’s good and this kind of Gets subjective it’s anecdotal anytime You’re quoting one individual but at Least one Bloomberg analyst here is Suggesting that BTC is going to Outperform most major assets in H2 I Guess that’s half two of 2022 because Global rate hikes are putting downward Pressure on asset prices as I said look Nothing is guaranteed in crypto

Certainly but this may be one of those Proven grounds where crypto can kind of Prove its worth in a tested by fire kind Of sense let’s see and this is pretty Interesting here we’re on Cryptoslate.com so in 2022 Bitcoin Surpassed traditional cryptocurrency Stocks and then since January of this Year the price of BTC has decreased by a Good amount actually by 56 but the thing Is equities associated with the Cryptocurrency industry and kind of Indices of crypto in a sense things like Microstrategy Riot blockchain coinbase And Hut 8 all of those assets have Decreased a lot more so by 74 in fact And it would seem that despite let’s Face it a pretty much bad Market in Cryptocurrency or at least an ongoing Bear Market what’s interesting is that The number of Bitcoin holders has been Growing and that’s even though whales Have only really just begun to Accumulate all that to say is that the Largest of crypto investors are still Continuing to find comfort in BTC as a Store of value and there was a snapshot Taken on the 27th of September and there Were almost 4.5 million more Bitcoin Owners than there were just a year Before said a little bit differently Here in this tweet by Ki young Jew BTC Accumulation level reached a seven year High over six month old Bitcoins they

Now take up 74 of the realized cap that Was 70 and 77 at the last bottoms in 2019 and before that in 2015 Respectively imagine you buy Bitcoins And do nothing over six months that is a Difficult temptation to overcome uh if That’s something that you’ve been able To do members of the altcoin Plus Army Kudos but yeah it’s not easy okay so as I mentioned you guys probably got a Sense of this video based on the title And the thumbnail what we’re trying to Convey is that look we had some pretty Negative predictions when it came to the Ethereum merge we thought that a lot of The hype would be cooling off we Mentioned that phrase or that aphorism You know buy the rumor sell the news we Thought that was more or less what was Happening but we do have to eat a little Bit of crow here and it’s in a good way Because we think things are starting to Look pretty good for ethereum and that Is to say we were probably wrong about How badly ethereum would perform post Merge when at least when today you take A look at the sentiment analysis which Is showing that it could bounce actually And that’s based on broader news that We’re getting out of fidelity actually They’re going to be offering clients Exposure to eth with the ethereum index Fund so this is the multi-trillion Dollar asset managers newly formed find

It’s accepting minimum outside Contributions of fifty thousand dollars And has recorded sales right now already Of a little over five million dollars Now earlier this month news that Fidelity might soon provide crypto Offerings to retail consumers also made Headlines and when Fidelity created a Bitcoin trading firm that was in 2018 With a focus on institutional investors And hedge funds of course as many of you Remember it assisted in establishing Access points to crypto markets so is That to say we’re going to see continued Momentum with eth I don’t know but Following the significant sell-off that We saw in June ethereum did make a Strong run-up above two thousand dollars That was before the merge upgrade and When ethereum successfully completed its Merge and by the way we have to remind Ourselves that that was a successful Event the merge was successful it Happened last month by the way the price Of eth moved in the kind of sell the News fashion and eth and the larger Crypto Market of course experienced a Pretty similar outcome as the American Equity markets which is to say they came Under pretty intense selling pressure But on-chain data provider sentiment has Noted that the low crowd interest in eth May very well lead to a higher chance of A bounce and even though performance

Wasn’t perfect we have to remember also That in Q3 ether outperformed a lot of Other significant assets nearly all of Them in fact some highlights here that Are worth discussing so the ethereum Foundation have announced three new Releases the Devcon manual Devcon Passport pwa and the Devcon sched Schedule then we have Hugo Boss that has Announced 360 degree metaverse Experience with new nft lines on Ethereum the ethereum open interest and Perpetual Futures contracts has hit a One-month High that’s on FTX and the new Ethereum addresses per day that metric Is hovering around 70 000 again and Ethon exchanges is down to 14.6 percent None of this predicts anything Concretely Um it’s probably a little bit too easy To cherry pick the kind of data that you Want when it comes to cryptocurrency Actually a lot of things for that matter But I think taking together these are Positive indicators let us know guys in The comments below if you’re still Bullish if you’re still optimistic about Eth I think we tried to be cautiously Optimistic in some of our post merge Predictions and so it’s kind of a Camping mentality hope for the best but Prepare for the worst and who knows Maybe the Outlook was a little bit Better than we had anticipated but

Positive news positive developments for Ethereum very quick update here from uni Swap Labs at Uni swap on Twitter so it’s Been one year of uni swap V3 on arbitrum And we just hit an all-time high of 78.7 percent market share kudos to UNI Swap all right let’s get now into those Near protocol updates so the near Foundation is teaming up with Google Cloud and it stands to reason that all Of those hundreds of projects currently Building right now on near are going to Benefit tremendously from the Google Cloud partnership because under that Partnership Google cloud is going to Support new developers in building and Scaling their web 3 projects of course And dapps and it’s a partnership that Will allow Google Cloud to provide Technical support to near Grant Recipients by providing infrastructure For nearest remote procedure call node Provider to Pagoda and you may remember That in September Google Cloud Inked a Similar partnership with binance’s smart Contract blockchain platform the BNB Chain and Google Cloud launched a new Digital asset team in January to support The development and the evolution of the Blockchain ecosystem it’s a positive Development for a project that we are Big big fans of kudos to near protocol On the news you can read more about it Pretty much anywhere all right on to

Some polygon news here ticker Matic of Course so shopping.io has added payment Support for Matic the platform is going To allow users to buy products from Places like Amazon eBay Walmart and the Home Depot and Matic holders can pay Using the token on the platform and as a Part of the new integration the platform Is also giving a two percent discount For the first 30 days not bad if you Didn’t catch our video from the other Day talking about the Athen land sale That is coming up very quickly and Here’s something that you should Mark on Your calendar so the know your customer Deadline is ending on October 6th make Sure this is from us altcoin Buzz make Sure you participate and complete before The cutoff time if you want to be Eligible we will reach out to the Winners via direct message that land Sale is happening on the 8th of October If you want to learn more about this Project once again check out our recent Video onto coinbase news this is a from Their documentary it’s going to Premiere This Friday October 7th or tomorrow on Amazon actually and it’s a story that Follows coinbase and of course its Founder and CEO Brian Armstrong from Really the beginning until the company Went public and both vitalik buteran and Michael Saylor will be featured as well As other big crypto personalities so be

On the lookout for this it should be a Good film because the trailer even shows A young Brian Armstrong a young coinbase From back in the day and really a young Crypto industry and all of them in one Form or another are tied into Bitcoin The one king of crypto assets into Decentralization and really providing People with access to what they describe As a revolutionary Financial tool so it Should be a good watch that is your news For this Thursday 6th of October once Again best of luck if you choose to Invest but never official Financial or Investment advice if you’re still Watching be sure to like subscribe share Hit the Bell to receive notifications Check out these other couple of similar Related videos popping up here to my Left and to my right stay safe safe out Their members of the altcoin buzz Army Have a great tale and tier week we’ll See you hopefully in tomorrow’s video Until then take care