Crypto News: ETH, Cardano, Avalanche, Market Movers & More!

[Music] Welcome to the coin bureau weekly crypto Review here are this week’s top Headlines in the crypto news [Music] Crypto market recap an overview of all The crypto and macro factors that moved The market last week and what other Effects they could have in the near term Ethereum merge approaching each holders Ethereum miners and exchanges prepare Themselves for the crypto project’s Historic update everything you need to Know Cardano decision Cardano developers come to consensus About a september date for the highly Anticipated vassal hard fork here’s why It could be both bullish and bearish for Ada Avalanche accusations avax crashes after A controversial report alleges other Labs hired a law firm to go after the Crypto project’s competitors who is Telling the truth Unstoppable stimulus european countries Promise to offset the rising costs of Energy as russia turns off the taps Months before winter what does this mean For their currencies and the global Economy And a closer look at last week’s top Performing cryptos and where they’re Headed next all this and more in just a

Moment [Music] Good morning afternoon or evening thank You for tuning in my name is guy and What you’re about to see is educational Content not financial advice You can find any topics you’re looking For using the timestamps in the video Timeline and now for today’s top stories Last week the crypto market continued to Trade sideways This seems to be because there was an Equal amount of bullish and bearish news Keeping crypto holders on edge at the Macro level health authorities around The world began approving products Related to the ongoing pandemic likely Leading to fears that restrictions will Return in the coming months and further Crush the global economy At the same time however companies that Have historically been strict on Pandemic restrictions such as goldman Sachs announced they would begin easing These suggesting that they could in fact Be on their way out across the board Another factor that moved the markets Was fears around inflation which hit an All-time high of 9.1 percent in the Eurozone This likely led to fears that central Banks will hike interest rates even more Aggressively Shortly afterwards however the jobs

Report for the united states came in Well below expectations suggesting that The economy is starting to weaken Believe it or not but this weakening was Bullish for markets because it means Central banks may not raise interest Rates as aggressively At the crypto level meanwhile iranian Authorities announced that businesses There can use crypto for international Trade This is significant because iran is a Heavily sanctioned country and any use Of crypto to evade these sanctions could Therefore result in even more regulatory Scrutiny of the crypto industry To make things worse the russian Government reportedly got word of iran’s Plans to use crypto for sanctions Evasion and is apparently considering Doing the same Note that iran had stated some weeks ago That it intends to actively use crypto To evade sanctions come september which Is of course now upon us This relates to another nugget of crypto News that caught the market off guard And that’s that micro strategy chairman And bitcoin bull michael saylor is being Sued by the attorney general of Washington dc for tax fraud i.e failing To pay taxes to the state under false Pretenses Although this is unlikely to have any

Direct effect on btc It could invite further regulatory Scrutiny from the u.s government in the Realm of tax evasion using Cryptocurrency something michael had Spoken about before on podcasts They need to make use of all those new Irs agents after all In terms of bullish news the biggest Crypto headline was the news that meta Had expanded nft support on facebook and Instagram making it possible for nft Holders on ethereum solana polygon and Flow to connect their wallets to the Social media platforms and showcase Their expensive jpegs It’s important to note that this is just One of many steps in meta’s ongoing nft Integration which began way back in may And you’ll know this if you watched our Recent polygon update Now in addition to potentially seeing Billions of users on board it to the Four blockchains in question meta’s Ongoing nft integration is Simultaneously setting the stage for Even more crypto integrations and Partnerships such as flow’s recent Partnership with ticketmaster for nft Tickets The integration and adoption of Cryptocurrency is likely to accelerate As ethereum transitions from proof of Work to proof of stake as it will make

Ethereum’s ecosystem more attractive to Investors in the short term and more Scalable for users in the long term As most of you will know ethereum’s Bellatrix upgrade should be taking place Within the next 24 hours and some would Say that this marks the start of the Actual merge which could now occur as Soon as the 14th of september according To ultrasound money Some sources estimate that the merge Could occur as soon as the 13th of September which would be fascinating as It’s the same day that the inflation Figures for august will be released in The united states Depending on how those look they could Either supercharge or dampen any Positive price action Regardless the ethereum merge is little More than a week away and this means you Must prepare yourself accordingly if you Hold eth or any erc20 tokens In practical terms this means asking Yourself whether you want to huddle or Trade the merge If you plan on huddling make sure you Have your eth and erc20 tokens in a Secure crypto wallet that you custody And if you’re planning on hodling Because you want to receive any Potential proof of work eth forks Consider creating an account with a safe Exchange that will be supporting these

Forks If you plan on trading make sure you’ve Transferred any eth and or erc20 tokens You plan on selling to a safe exchange Before ethereum related deposits and Withdrawals are paused obviously the Last thing you want is to be unable to Transfer your crypto when you want to Sell it the most Pro tip consider sending your eth and Erc 20 tokens to multiple exchanges that You trust This is because exchange outages are Extremely common when volatility is high In the crypto market and the second last Thing you want is to be unable to sell Because the exchange you’re using is Down This ties into the last thing to Consider about the merge and that’s that There will truly be no shortage of Volatility besides all the macro factors I mentioned earlier there will be plenty Of chaos within the crypto market due to Investor expectations and buying and Selling by eth wales and ethereum miners Prepare yourself mentally for both a Pump or a dump and don’t think that you Can get away with doing everything on Chain either There’s still a non-zero chance that Something could go horribly wrong with The merge and many d5 protocols are Proactively preparing for this by

Pausing transactions If you want to learn more about the Merge and what it could mean for eth be Sure to check out our recent video about That using the link in the description Now as i’ve mentioned time and time Again the possibility that there could Be a problem with the merge is why i Hold a handful of so-called ethereum Killers as part of my portfolio This includes cardano’s ada which looks To be better positioned than ever to Play the role as an eth hedge This is because cardano’s developers Have confirmed a date for the highly Anticipated vassal hard fork As per a twitter thread by input output The vassal hard fork is now scheduled For the 22nd of september which will be Roughly one week after ethereum’s own Massive upgrade For those unfamiliar the vassal hard Fork is expected to significantly Improve cardano’s scalability Specifically it will increase cardano’s Block size so that more transactions can Fit in each block and make it possible For developers to analyze transaction Outputs without having to spend these Outputs Those of you who watched our video about The top cardano projects will know that Cardano’s novel transaction model though Secure created concurrency challenges

For smart contracts and decentralized Applications which resulted in Sub-optimal user experiences put simply It made cardano daps slow The ability for developers to Effectively simulate transactions on Cardano before they occur should Therefore make it possible for their Dapps to provide the same sort of user Experience we’ve become accustomed to on Other smart contract cryptocurrencies This is why ada has been rallying so Hard over the last few days and why it Could continue to rally even after the Vassal hard fork is complete and ada Could rally even harder if there are any Significant issues on ethereum as a Result of the merge Now the caveat is that it’s not entirely Clear just how much vassal will affect The user experience on cardana’s growing Number of daps and i say this because Cardano developers noted in a june Update that the effect of the vassal Hard fork on cardano will quote not be Immediate More recently cardano founder charles Hoskinson seemed to tacitly reiterate That the vessel hard fork will not Result in an increased scalability that Can be felt by the end user as he Focused on the security and quality of Transactions on cardano rather than Their speed in the context of vassal

What this means is that vassal could Very well end up being another zelda News event like the alonzo hard fork Last september when ada wales sold when They realized that cardano’s smart Contract functionality had failed to Meet their high expectations namely the Instant deployment of dapps To be clear i am not saying that this Will happen again but even if it does Addis crash will not be nearly as Catastrophic As you can hopefully see 30 cents seems To be a very strong zone of price Support for ada and plummeting there From these levels would result in a loss Of roughly 50 percent Conversely ada could rally as high as 80 Cents in the short term and the research That i did for our upcoming cardano Update over the weekend suggests to me That this outcome is more likely stay Tuned for that update it should be with You later this week now another crypto Project that’s been making the headlines Lately is avalanche and that’s because Of a controversial investigative report Published by crypto leaks which alleges That other labs the company behind Avalanche hired a law firm to go after Competitors and direct regulators away From avalanche While these kind of reports typically Turn out to be nothing more than hit

Pieces based on questionable evidence The investigation by crypto leaks Contained some pretty concrete evidence Including multiple videos of a lawyer Detailing his law firm’s close Relationship with other labs Naturally this begs the question of Whether the videos were fake Well as it so happens block works hired A digital media forensics expert to find Out and they confirmed that the videos In the crypto leaks report were Authentic this immediately begs a second Question and that’s the motive behind The report In a medium post responding to the Crypto leaks report the lawyer in Question claimed that it contained quote Illegally obtained highly edited video Clips that are not presented with Accurate context Denied that what his law firm was doing Was illegal and that he was intoxicated In the videos The lawyer also claimed that the man who Filmed him was hired by dominic williams The creator of the internet computer Now some have cited crypto leaks Previous reports as being evidence to This effect since they were both about Attacks against the icp coin Dominic has not yet responded to these Allegations Now as some of you may have seen

Avalanche co-founder and other lab ceo Emin gunsira dismissed the crypto leaks Report as quote conspiracy theory Nonsense which resulted in the crypto Leaks twitter account responding with Even more evidence to back up the claims Made in the report Unfortunately it seems the responses by Emin and the lawyer failed to sway the Opinions of many dismayed avax holders As the coin began to tumble shortly Afterwards and has yet to recover at the Time of shooting In what some are considering to be an Admission of guilt the law firm in Question pulled out of a series of Lawsuits a few days later and the Avalanche community has seemingly found Themselves with more questions than Answers Crypto podcaster and writer kobe Perfectly summed up the situation in a Tweet where he pointed out that while The reporting by crypto leaks is Questionable for many reasons it’s Extremely hard to explain away the Apparent authenticity of the videos upon Which the report is based The reality is that it’s not entirely Clear who’s telling the truth at this Point in time but i think it’s worth Reminding everyone that cryptocurrency Is extremely competitive and not Everyone plays the game honestly

That said avalanche is not a crypto Project that i would consider to be a Dishonest player even if the allegations Are true everything they were doing was Completely legal at least to my Understanding If this is in fact the case then you can Bet your portfolio that other crypto Projects are doing the same and i’m sure We can think of a few truly dishonest Players in the crypto industry On that note you can learn about the Enemies of cryptocurrency using the link In the description Now even with all its flaws the crypto Industry is still exponentially more Honest and moral than central banking Whose fiat currency systems have been The root causes of unquantifiable pain And suffering since they were first Established in the 1600s starting with The bank of amsterdam This is because being able to print Money out of thin air inevitably results In the misallocation of capital usually This means central bankers and Politicians lining the pockets of their Cronies in the public and private Sectors and this time it’s the energy Companies that are getting the kickbacks Instead of looking for ways of getting Their hands on more energy germany France the netherlands austria the United kingdom and others are

Subsidizing energy costs by shoveling Money into their energy companies Pockets or into the bank accounts of Their citizens This is causing the euro and the pound To lose value against the u.s dollar at An unprecedented rate That’s mainly due to the interest rate Differences between the eu uk and the us The latter has been increasing interest Rates aggressively over the past few Months whereas the former two have been Slow to do so Moreover inflation in the uk and europe Is higher than in the u.s which leads to Less investor interest versus the Greenback The scary thing is that this trend is Likely to accelerate as winter Approaches especially since russia Recently shut down its gas supplies to Europe indefinitely citing a need for Additional maintenance when the real Reason is likely retaliation for the g7 Countries setting a price cap on russian Oil As a result hundreds of thousands of Small businesses in europe and the uk Risk being shut down for good due to the Rising energy costs and don’t even get Me started about the so-called climate Lockdowns that are being suggested by Some governments to save energy This unfortunate state of affairs is

Leading to what will likely be record Levels of social unrest around the world Setting the stage for totalitarian Crackdowns in some countries and regime Change in others i’ll be doing a video About all this social unrest soon so Stay tuned In the meantime expect to see more and More people flock to us dollar stable Coins to protect their purchasing power Since stable coins run on smart contract Cryptocurrencies the coins used to pay Fees on the blockchains that support the Likes of usdt and usdc could potentially Benefit Then again the deep recession and energy Shortage is likely to cause in europe This winter will almost certainly shock Waves through the rest of the world This could result in an economic Situation not seen since the great Depression almost 100 years ago and some Would say we’re there already It’s safe to say that the people in Power will take advantage of this mostly Manufactured crisis to the best of their Ability and if you’re wondering what They’re planning and how they plan to Achieve their goals be sure to check out Our recent video about the world Economic forum using the link in the Description Turning to the charts we can see that Btc continues to bounce against that

Zone of support around 20k The more it’s tested the more likely we Are to break below it but the good news Is that the bear flag that was forming On the daily failed to play out The bad news is that there seems to be a Big bear flag on the weekly that could Take btc all the way down to 15k in the Next couple of weeks Alternatively we could snap to the Upside to test the 27 to 29k range let’s Hope it’s the latter scenario Last week’s top performing Cryptocurrencies were celsius lido Finance cosmos cardano and nexo so Starting with celsius the sell token is Rallying on the news that some of Celsius’s users could soon be getting Their crypto back which is certainly Good news I’m not going to lie sells long-term Price chart looks pretty promising but I’m going to have to hold off on any Speculation since celsius is currently Bankrupt and the sell token is extremely Volatile because of it More about what happened there using the Link in the description Next up we have lido finance whose ldo Token is pumping as the ethereum merge Approaches this is because lido finance Is used to stake eth in a liquid i.e Tradable manner Lido also partnered with aztec network

For low fee liquid staking and Additional privacy on ethereum solid Stuff Funnily enough ldo has been even more Volatile than cell and that’s simply Because of all the uncertainty and Excitement around the merge With some luck ldo will pump by another 50 between now and then resulting in a 2x move from its price just a few days Ago note that i hold ldo in my portfolio Another crypto i hold in my portfolio is Cosmos’s atom coin which has been rising Steadily over the last few months and if You watched our recent video about the Project you’ll know that’s because of All of cosmos’s upcoming upgrades Notably liquid staking and interchange Security Atom is approaching oversold territory On the daily which could result in a Slight pullback consistent with its Recent price history Then there’s cardano whose adacoin is Rallying for the reasons i mentioned Earlier namely confirmation of a date For the vassal hard fork You’ll hopefully recall i hold ada as Well What i’m looking for from ada in the Short term is a rally back to the 60 Cent mark to get back in that Medium-term uptrend and i reckon it’s More likely than not given the renewed

Interest in cardano And finally we have nexo whose nexo Token is rallying on the news that the Crypto platform will allocate 50 million Dollars to buying back the token As you can see nexo’s long-term price Action is fairly unpredictable and given That nexo is not all that different from Crypto platforms like celsius i would Exercise caution with this crypto Especially with all the regulators Running around these days And that is all for today’s coin bureau Weekly crypto review if you enjoyed it You know what to do hit that like button Subscribe button and bell icon too If you’re looking to maximize your gains During the bear market the coin bureau Deals page is where you should go you Can find the link to that resource and Many others in the description below Thank you so much for watching and i Will see you all in next week’s episode [Music]