The Real Reason Crypto & NFTs Are Going Up.. 🤯 📈

The cryptocurrency market is going crazy Right now in fact just looking at the Front page of coin gecko we see damn Near every single coin pumping in Today's video let's talk about the news That just broke as well as why why these Specific coins are going up well for Litecoin coder brings ordinals to Litecoin as a Bitcoin inscriptions Surpass a hundred and fifty four Thousand so the race to bring nfts to More proof of work blockchains is on as Ordinals inscriptions were introduced to Litecoin so ordinals are very new Technology they're like nfts for the Bitcoin Network in fact we did a video a Few weeks ago informing you what are Bitcoin ordinal nfts seek this interview Out if you want an explainer video but Today this is one of the reasons we're Seeing the Litecoin price go up the Quest to bring ordinals to Litecoin Blockchain began on February 10th when a Synonymous Twitter user Indigo Nakamoto Offered five Litecoin This was later Increased to 15 to anybody who could Port ordinals to Litecoin and the reason That Litecoin was chosen next after Bitcoin very simple Litecoin was chosen Because it was the only other blockchain On which ordinals could work due to its Soft forks with segwit and Taproot Technology found in Bitcoin both of Which are essential to making ordinals

Work now of course why a developer or a Creator would choose Litecoin over Bitcoin now that they have both options Yes Litecoin is faster and cheaper yet Bitcoin is more secure but because of The mimble wimble upgrade to Litecoin Last year which essentially enhanced the Network's privacy and transaction size This is a big differentiator now for Litecoin ordinals with mimblewimble as Its Secret Sauce the developer who made This happen says the Litecoin blockchain Is the perfect place for ordinals Because it can handle more data in an Individual transaction at a lower cost Than Bitcoin in a direct quote from that Developer he says having mimblewimble Built into the chain allows for users to Be able to transfer funds privately Before inscribing for example a Statement piece while maintaining Privacy is a huge Advantage unlike Bitcoin which is a fully public ledger So Litecoin now has ordinals and the Market is reacting And by the way many people globally Would probably say Bitcoin and ethereum And investment is pretty risky those Same people would probably say altcoins Even riskier and then nfts the most Speculative the riskiest so in 2023 in a Risk off environment where the FED Continues to be ultra aggressive raising Rates why are nfts pumping blur

Overtakes openc a few days ago as Ethereum nft trading skyrockets over 500 Million dollars worth of ethereum nft Trades took place over the past week as Blur's reward model catapults it over Openc and just to be specific looking at The numbers according to data from dap Radar blur has generated over 460 Million dollars worth of ethereum nft Trades over the last seven days this is An over 361 percent increase compared to Open C meanwhile saw just a 12 percent Increase in trading volume to just 1 107 Million compared to 460 million the Third Marketplace X2 Y2 tailed barely Just 11 million in trades in that time Wow so why is blur destroying open C Relatively speaking well the surge in Volume comes during a week in which blur Air dropped its blur governance token Two nft traders who earned rewards Through the marketplace so blur gave Tokens to its users as well as users of Other people using other platforms over This last year and looking at the value With the market cap of the blur Network Well over 400 million dollars with each Token trading at over one dollar each Right now it's pretty clear why these Nft holders have all this extra money it Appears that at least some of the nft Collectors poured their airdropped funds Back into buying nfts and they're Primarily using blur not open C to buy

And sell nfts as the market data shows By the way it's not just blurry users Dumping their coins it is many of them But it's not all of them it's also whale Traders with significant nft Holdings Appear to be flipping nfts with even Greater frequency than before in an Effort to boost potential future token Reward allocations so blur really Changed the game with this their Tokenomics combined with their sort of Gamification is encouraging people to Flip nfts with them this is facilitated By blur's unique Marketplace model which Not only broadly incentivizes heavy Activity with the promise of token Rewards but specifically rewards Traders For using bidding pools that enable bulk Trading for nfts so again if you have Heavy trading activity on their platform You the promises you will get Incentivized and also why projects like Other side the mutant dape Yacht Club And moon birds are flying this week and Many of the nfts in those projects are Trading hands over and over again on the Blur Marketplace And big news coming out of FTX FTX Bankruptcy claims sell for 20 cents on The dollar in private OTC markets so This is bad this is bearish although it Is exactly what we all would have Expected and remember FTX filed for Bankruptcy protection back in November

When their sister company Alameda was Blown out of their leveraged long Positions during the market downswing And spf's defunct exchange now owes its 50 largest creditors 3.1 billion dollars And FTX obviously doesn't have the money So that's why these bankruptcy claims Are selling for pennies on the dollar Now there are public bankruptcy markets And they are valuing distressed FTX Assets at around 16 cents on the dollar While in the private markets people are Getting a little more the private OTC Markets are showing similar pricing with Distressed asset funds buying in the Range of 15 cents to 20 cents on the Dollar and in a direct quote from one One Anonymous FTX creditor they say they Are buying on the projection that they Will only get money in five years Meaning people are buying these claims With a big unknown on will how much Money will they get right now they're Paying 16 hoping in five years they'll Get more if the funds end up getting 25 Cents on the dollar in five years It won't be a great trade as that's only About a five percent annual return I Think a lot of these firms are Projecting around 50 cents on the dollar Recovery so people are speculating now In hopes they'll get something Eventually and as the FTX website is Currently down it's very hard for people

To prove the assets people had on the Exchange so while many many people Around the world have these bankruptcy Claims the people in Japan are all good FTX Japan customers can begin Withdrawing both Fiat and crypto today February 21st and why is this why did They get to be separate I'm not sure but As of today they have officially Restarted withdrawal services for both Fiat and crypto in a direct quote from The company they say due to the large Number of requests from customers it may Take some time for the withdrawal Process to be completed we will announce The resumption of other FTX Japan Services as soon as possible but why is Helium altcoin pumping while the helium Network is set for their official Migration to Solana on March 27th a 24-hour transition period will take Place on March 27th when the helium Blockchain will be halted so they were Their own blockchain they want the Network effect they want the developers And everything that comes with with a Bigger blockchain Solana this upgrade Will Encompass all wallets hot spots and Helium Network State holders of hnt and Mobile tokens will not need to take any Action to participate in the upgrade and Finally two different altcoin daily In-person appearances to share with you We will be at Bitcoin 2023 awesome

Conference in Miami use code altcoin Daily for 10 off linked down below and Of course in Los Angeles we will be Speaking moderating a panel in La use Code altcoin daily VIP for 10 off your Tickets to Outer Edge LA but see you Tomorrow