The Ethereum Price is About to Go ‘Turbo Parabolic’? – Crypto Market Update

An ethere spot ethereum ETF is a matter Of when not a matter of if the ethereum Price Soares above $3,100 for the first time since April 2022 and uh and you say that because With such confidence I say that with Confidence because all while Bitcoin Hits $53,000 on a Monday actually now 54 Showing institutional fomo and the RAS The registered investment advisor I Think the big story is we've now opened Up the institutional really the the Raa Community right $45 trillion dollars of Wealth are managed by Brokers and you Know we've got baby boomers who own most Of the wealth in America and they're Getting their first easy access to Bitcoin and you're seeing it through These ETFs the massive growth in a very Short period of time and actually we Continue to break records black Rock's Bitcoin ETF has traded $1 billion worth Of shares today so so far which ranks it 11th among all ETFs in the top. 3% and Top 25 among stocks this is an insane Number for newbie ETFs especially one With 10 competitors $1 billion a day is Big Boy level volume enough for even big Institutional consideration and I don't Think that's going to stop right last Night we had 135 million dollar of Inflows after you that slowed down from 400400 350 uh Paul tutor Jones taught me

Early on in my career that prices get Set on the margin right and so we've got More buyers and sellers prices go up and I see a kind of a constant these are Hodlers as well right these are guys That are buying put it in their Portfolio and hold they're not Traders And so the ETF buyers in general that Are coming through these Raa channels um I think are taking Supply off the market So I still see Bitcoin ending the year a Lot higher that said could we Consolidate around here for a little While of course we could so this is Undoubtedly institutional buying today As retail simply isn't here yet not even Back to 50% for Bitcoin and almost near The bare Market lows for crypto and nfts Higher so much effing higher and think About it most of the registered Investment advisers haven't bought into The Bitcoin ETFs yet let's just talk Through the sort of dynamics of this Raa Situation which is a number of these Institutions still have to get approval To do this so how do you see that Playing out in terms of just how many Advisers can actually recommend Recommend Bitcoin as a product today Versus how many will be able to do that In 6 months from now I don't have a Perfect answer but I would tell you at Least double in six months right there Are big channels that still aren't

Turned on that we know they're going to Get turned on right we're in Conversations with them these are the Big Platforms uh and like there's an Inevitability to it why because their Customers are calling and and bitching At them and saying we want to buy Bitcoin with you and so then the sales Guys who get paid for selling stuff are Screaming at their bosses and so I'm Certain it's going to happen like this Is not it might happen it is going to Happen it just takes time these Organizations are very conservative uh In general and you know crypto scared The heck out of people 18 months ago and So there's still scar tissue and for eth The ethereum price increase largely Driven by anti ipation of dankin upgrade As well as coinbase urging the SEC to Approve grayscales spot ethereum ETF Coinbase uh calling on the SEC to Approve grayscale's application to Launch a spot ethereum ETF in a letter To the SEC coinbase chief lawyer saying Quote ether's proof of stake has Demonstrably strong governance that Exhibits robust characteristics across Ownership concentration consensus Liquidity and governance mitigating Risks of Fraud and manipulation join us Right now is Grace CEO Michael sunshine It's not that often when one of your

Competitors says hey uh go go help these Folks and will it take another Victory Legally speaking which then begs the Question on the ethereum front if that Is to move forward in a meaningful way Does that require another suit it's too Early to say it's too early to say I Think we have a similar dynamic in the Market where the SEC has allowed for and Approved uh ethereum Futures ETFs to Come to Market uh the data suggests in a Very similar way to bitcoin that spot Bitcoin and uh Bitcoin Futures have an Inextricable tie the markets have a 99.9% correlation same is true around Ethereum and so we do have a very Similar Dynamic here so why is ethereum Pumping yes we have ETF speculation but Also ethereum is on an upboard strand With developers setting March 13th as Their crucial date for a significant Dankin Network upgrade this update aims To address one of ethereum's main Challenges by reducing layer 2 Transaction costs meaning the Flourishing L2 ecosystem on ethereum is About to get a whole lot cheaper to Transact and the mainstream media now Speculating eth versus Solana this still Be huge for eth ETF but there's also an Upgrade scheduled for March 12th uh it's Denin upgrade and that's supposed to Make it more uh quick uh more uh Compatible faster with respect to salana

I guess that's the word I was looking For I do find it interesting that over The last 3 days ethereum has been up 4.1% while salana competitors is down About 7/10 of a percent so I think Shauna that actually gives some weight To that potential argument that this is In fact about the upgrade also another Big reason ethereum is growing is Because their number one decentralized Exchange Unis swap price gains 50% after Fee sharing governance proposal so this Is obviously huge for the eth ecosystem But also crypto in general as Unis swap Is the main Dex in crypto today and According to the The Proposal submitted By Unis swap foundation's governance Lead the upgrade would reward uni Holders who have staked and delegated Their tokens meaning if you stake your Uni tokens if this is passed you'll Start to receive a share of the fees of The protocol that's why we saw a massive Jump in price cuz people wanted to own Uni if this gets passed because Unis Swap is generating more fees than the Bitcoin Network at this point and just Like owning dividends if you own stocks Stakers and delegators would start to Earn a share of the fees generated the Market hasn't digested just how big the Unis swap news is a us-based protocol Even though they're Global has turned a Governance token into a revenu SL

Dividend token it's probably the biggest News since the ETF soon the market will Realize yet this now begs the question Would Regulators consider Unis swap a Security if you're getting dividends Also Mina protocols making new news the CEO of 01 Labs explains how you do not Pay for gas working with smart contracts On essentially all blockchains there's This notion of gas where you you pay More or your users pay more money in Fees if the computation is more Expensive on Mina it's extremely Straightforward you pay like for each Account you touch so like if your Transaction touches three accounts you Pay like three accounts worth of fees And it's fixed it doesn't matter what Computation you're doing because the Computation happens client side what's Actually get sent to the network is a Proof that that computation has happened And and the proof can be verified very Cheaply also big news for artificial Intelligence protocol AIT introducing Einstein AIT the Llm supercharger for bit tensor as we Know bit tensor is the Blue Chip AI Protocol in the space well AIT subnet is Officially live and through this latest Partnership we've launched one of the First 32 subnets on the bit tensor Ecosystem we are developing a sub Network that will improve the response

Accuracy for llms and maximize rewards For miners on bit tensor and why is this Important for the AIT Community well AIT Is entering the subnet horse race tow Growth equals AIT growth AIT tapping Into a network of networks that will Provide data annotation jobs for our Global Workforce if I missed an altcoin Comment down below and be sure to click Subscribe you do not want to miss a Daily video see you tomorrow