🐾 Unleashing OCTA: Who let the dogs out! 🐶

Summary

The video discusses the current volatile crypto market, with a focus on Nvidia's earnings and their impact on the tech sector. It covers significant token unlocks, macroeconomic trends, and regulatory challenges, including the SEC's stance on NFTs. Despite negative news, the presenter highlights positive aspects, such as increased long-term holder supply of Bitcoin and the potential of AI and energy storage solutions, emphasizing the need for a balanced perspective in the face of market fluctuations.

Takeaways

• 📈 The cryptocurrency market is experiencing volatility with Bitcoin just under $60k and Ethereum under $2500, reflecting a general market unease.
• 🔓 There have been significant token unlocks for various cryptocurrencies, including a large 16% unlock for Zeta, which could potentially impact market dynamics.
• 📊 Employment in professional and business services in the US is weakening, with year-over-year growth at its lowest in several years, signaling potential economic concerns.
• 🌐 The possibility of a 'carry trade unwind 2.0' could lead to a substantial flow of dollar-denominated assets to China, potentially strengthening the yuan and affecting global financial markets.
• ⚖️ The SEC's classification of NFTs as unregistered securities on OpenSea has been met with criticism, highlighting regulatory challenges within the crypto space.
• 📉 Despite a general market downturn, certain cryptocurrencies like Cardano and Kaspa have shown resilience, while others like Toncoin have faced temporary outages but recovered.
• 💳 US credit card debt is reaching all-time highs, nearing $1.1 trillion, indicating increasing consumer debt levels that could have broader economic implications.
• 📊 The US holds the largest share of global equities, which is unusual and could indicate potential market corrections or shifts in global stock values.
• 📈 Oil prices are rising due to geopolitical conflicts and supply disruptions, which could contribute to inflation given oil's role in various economic sectors.
• 🤖 AI and technology sectors are becoming increasingly important, with Nvidia's earnings being highlighted as a significant market indicator, and Tesla's advancements in autonomous driving showcasing the transformative potential of AI.
• 📊 Long-term holders of Bitcoin continue to accumulate, increasing their supply to over 75% of the total, suggesting a strong belief in Bitcoin's long-term value.

Q & A

What day of the week is the script referring to as 'hump day'?

The script refers to Wednesday as 'hump day'.

What is the current market cap mentioned in the script?

The market cap is just under 2.1 trillion.

What is the current price of Bitcoin mentioned in the script?

Bitcoin's price is just under 60k, around 59,500.

What is the current price of Ethereum (ETH) mentioned in the script?

Ethereum's price is under 2500.

What is the fear and greed index value mentioned in the script?

The fear and greed index is back at 30.

What does the script say about the employment situation in the US?

The script mentions that white-collar employment in the US is weakening, with professional and business service and financial information jobs growing only 0.6% year-over-year in July, the lowest in several years.

What is the 'carry trade unwind 2.0' mentioned in the script?

The 'carry trade unwind 2.0' refers to the potential for a $1 trillion flow of dollar-denominated asset-backed assets to China if the Fed rate cuts happen fast, which could strengthen the yuan by 5 to 10%.

What is the SEC's stance on NFTs mentioned in the script?

The SEC has classified NFTs on Open Sea as unregistered securities, which has sparked criticism as NFTs are considered to represent ownership and authenticity of unique items, not securities.

How has the number of buyers on the Solana chain changed according to the script?

The number of buyers on the Solana chain has increased by 43% for the week, far exceeding all other chains combined.

What is the current state of the credit card debt in the US as per the script?

The credit card debt in the US is at an all-time high, nearly approaching 1.1 trillion as of August 14th of the current year.

What is the script's mention of the US holding the largest share of global equities?

The script mentions that the US holds about 65% of all the value of the global equity market, which is typically an anomaly and could indicate potential market correction.

What is the script's take on the future of AI and its impact on various sectors?

The script suggests that the next two years for AI will be massively transformative, with advancements that are currently hard to imagine, and it will have a significant impact on various sectors.

What is the significance of the $50 billion stock buyback announced by Nvidia as mentioned in the script?

The $50 billion stock buyback announced by Nvidia is a significant move that reflects the company's confidence in its own stock and could be an attempt to boost shareholder value.

What is the script's view on the Tesla's new Model Y and its AI capabilities?

The script praises the new Tesla Model Y's AI capabilities, stating that it drives with a precision and accuracy that is better than a human driver, and this is a sign of the rapid advancements in AI technology.

What is the script's perspective on the importance of energy storage and Tesla's role in it?

The script highlights the importance of energy storage regardless of the source of energy and positions Tesla as a leader in this space, with significant contracts for its Megapack energy storage solutions.

Outlines

00:00

📈 Crypto Market Volatility and Unsettling News

The script opens with a discussion of the current state of the cryptocurrency market, highlighting its volatility and the significant unlocks of various tokens, which could impact the market. It also touches on Nvidia's earnings and the broader economic indicators suggesting a weakening labor market in the US, with a specific focus on white-collar jobs. The mention of a potential carry trade unwind and its implications for the Chinese yuan and US dollar assets adds to the market's uncertainty. The SEC's decision to classify NFTs as unregistered securities stirs controversy and concern within the crypto community.

05:00

📉 Market Downturns and Regulatory Criticisms

This paragraph delves into the downturn of the crypto market, noting significant drops in the value of various coins and the overall negative sentiment. It discusses the criticism of the SEC's aggressive regulatory approach by Representative Nickel, who argues it undermines trust and transparency. The narrative continues with an analysis of NFT sales across different blockchains, emphasizing the high volume of buyers on the Solana chain. The paragraph concludes with a look at the realized capital flows into Bitcoin, showing a slowdown in inflows and a market driven more by spot transactions rather than leverage.

10:01

🛑 Outages, Debt Concerns, and Market Anomalies

The script addresses technical issues in the crypto space, such as the Tron network outage, and its peculiar lack of impact on the value of TRX. It also raises concerns about record high credit card debt in the US and the potential implications for the economy. Furthermore, it discusses the unusual dominance of the US in global equities, suggesting a possible market correction. Geopolitical tensions and their effect on oil prices are also noted, with a warning about the impact on inflation.

15:01

😄 Crypto Investor Personality Traits and Market Flows

A controversial study suggesting crypto investors exhibit psychopathy is met with humor and skepticism. The script counters this by listing successful individuals in the crypto space, implying that their success is not indicative of psychopathy. It then shifts to discuss positive money flows into the crypto market, influenced by Jerome Powell's remarks, and details the inflow of funds into various assets, suggesting that despite market fears, there are entities that continue to invest.

20:03

📊 Bitcoin's Performance Over Time and Market Analysis

The script provides a historical perspective on Bitcoin's performance, showing that as of August 28th, it is at its highest value compared to previous years. It discusses the increase in long-term holder supply, indicating a strong belief in Bitcoin's future value. A comparison of Bitcoin's performance to other assets over the last 90 days demonstrates its relative stability. The paragraph concludes with an analysis of the current market state, suggesting that the spot market is driving prices and that speculative interest has waned.

25:04

🚀 PayPal's Stablecoin Growth and Crypto Adoption

The rapid growth of PayPal's stablecoin on the Solana blockchain is highlighted, with its value breaking the $1 billion mark. The script discusses the potential for this to benefit PayPal's stock and the broader implications for the crypto market. It also touches on the rebranding of MakerDAO to Sky, aiming to address scalability and regulatory challenges in DeFi. The narrative shifts to the stock market's performance, with a focus on the tech sector and Nvidia's earnings, which are seen as a significant indicator for the AI industry.

30:08

🔋 Tesla's Energy Storage Expansion and Market Potential

The script concludes with a discussion of Tesla's significant contracts for its Megapack energy storage solutions, particularly in Australia. It emphasizes the potential market value of Tesla's energy storage business and the broader need for energy storage solutions across various energy sources. The paragraph ends with a note on the transformative potential of AI in the coming years and a reminder of the importance of staying informed and adaptable in the market.

Keywords

💡Volatile

Volatile refers to the tendency of something to change unpredictably, often in financial markets where prices can fluctuate rapidly. In the video, the term is used to describe the current state of the market, indicating that it is unstable and subject to sudden changes, which is a central theme of the video as it discusses market conditions.

💡Nvidia Earnings

Nvidia earnings refer to the financial results of Nvidia Corporation, a major player in the technology sector, particularly known for its graphics processing units. The video discusses the significance of these earnings, highlighting that they are seen as an important indicator of the health of the tech industry, and noting the impact of their release on the stock's performance.

💡Fear and Greed Index

The Fear and Greed Index is a measure used in finance to indicate the sentiment of investors in the market, typically ranging from extreme fear to extreme greed. In the script, the index is mentioned to have fallen to 30, suggesting a prevailing sentiment of fear among investors, which is a key indicator of market psychology.

💡White Collar Jobs

White collar jobs typically refer to professional or administrative positions that involve work in an office setting, as opposed to manual or blue collar labor. The video mentions a decline in the growth of white collar jobs in the US, indicating a weakening labor market, which is a significant economic trend discussed in the context of broader market health.

💡Carry Trade Unwind

A carry trade unwind refers to the process of closing out a carry trade, which involves borrowing in a low-interest-rate currency to invest in a higher-yielding one. The script mentions a 'carry trade unwind 2.0', suggesting a significant shift in financial markets that could affect currency values and investment flows, particularly highlighting the potential impact on the Chinese yuan and the US dollar.

💡Non-Fungible Tokens (NFTs)

NFTs are unique digital assets that represent ownership of a specific item or piece of content, such as digital art. The video discusses the SEC's classification of NFTs on Open Sea as unregistered securities, which has sparked controversy and debate over the regulatory status of these digital assets.

💡Smart Contract Platforms

Smart contract platforms are blockchain networks that support the execution of self-enforcing contracts, which are programmable to execute upon the fulfillment of certain conditions. The video notes that smart contract platforms had a zero return for the month, indicating a stable performance compared to other assets, and highlighting the significance of these platforms in the broader crypto market.

💡Stablecoins

Stablecoins are cryptocurrencies designed to minimize price volatility by pegging their value to a stable asset, often a fiat currency like the US dollar. The script mentions PayPal's stablecoin reaching a valuation of one billion dollars, demonstrating the growing adoption and significance of stablecoins in the financial ecosystem.

💡Meme Coins

Meme coins are cryptocurrencies that are created as a joke or for fun, often based on internet memes or trends. The video discusses the decline in activity related to meme coins, suggesting a potential shift in investor interest away from these speculative assets.

💡Artificial Intelligence (AI)

AI refers to the simulation of human intelligence in machines that can perform tasks such as learning, reasoning, and problem-solving. The video highlights the transformative potential of AI, particularly in the context of Tesla's self-driving technology and Nvidia's role in the AI industry, indicating a significant trend in technological advancement.

💡Rebranding

Rebranding is the process of changing the existing brand identity of a company to something new. The script mentions Maker Dow's decision to rebrand as 'Sky', which is an example of how companies in the crypto space are adapting their image to address challenges and appeal to a broader audience.

Highlights

Market volatility continues with mixed news amid Nvidia earnings and a cryptocurrency market cap just under 2.1 trillion.

Bitcoin's price fluctuates just under 60k, while Ethereum remains under 2500, reflecting the market's cautious sentiment.

Significant token unlocks for various cryptocurrencies, including a massive 16% unlock for Zeta, indicating potential market impact.

US employment in professional and business services and financial information is weakening, signaling potential economic downturn.

Carry trade unwind 2.0 could potentially strengthen the Chinese yuan by 5 to 10%, affecting global financial markets.

SEC classifies NFTs on Open Sea as unregistered securities, facing criticism and highlighting regulatory challenges in the crypto space.

NFT sales remain robust despite market conditions, with Ethereum and Solana leading in sales volume.

The number of buyers on the Solana chain exceeds all other chains combined, indicating strong investor interest.

Crypto market experiences a downturn with many coins down, except for Cardano, Kaspa, and ICP, showing a mixed market response.

Bitcoin ETFs face challenges with a negative day of about $127 million, despite overall positive trends.

Net capital flows into Bitcoin have slowed, with short-term holders primarily selling, while long-term holders accumulate.

US credit card debt reaches an all-time high, reflecting increasing consumer debt and potential economic instability.

US holds the largest share of global equities, raising concerns about potential market correction or increased value of other stock markets.

Oil prices rally due to geopolitical concerns, impacting inflation and the global economy.

Despite negative perceptions, long-term holders of Bitcoin continue to accumulate, increasing their supply to over 75% of the total.

Smart contract platforms show resilience with zero return for the month, outperforming other asset classes.

PayPal's stablecoin on Solana breaks $1 billion, indicating rapid growth and potential monetization opportunities.

Nvidia earnings are considered a significant indicator of market trends, with their AI advancements being transformative for the industry.

Tesla secures significant energy storage contracts, highlighting the growing demand for sustainable energy solutions.

Transcripts

greetings welcome to today's story it's

Wednesday hump day and things are

volatile things are still summary doy

and we just had some Nvidia earnings

I'll talk about that in a second we have

a lot to cover 50 nuggets I'll go real

fast and there is a lot of ugly and bad

news today

but there's also some good news too so

as usual I'll try and be fair and

balanced as we go through thank you

David Webb thank you living like a panda

and Zeno and moderators in the chat and

everybody else let's jump in it is

Wednesday market cap is still under just

under I think 2.1 trillion it's kind of

been here for weeks and weeks uh Bitcoin

just went up $34 for the day and fell

down so it's still that's not bad it's

just under 60k 595 or so and eth is

under 2500 and fear and greed is back at

30 so things are not too good but let's

get into it and this is not Financial

advice and thank you as well to every

and patreon and the team behind me this

is from Vortex Vic I spent all day

waiting for this you guys are the best

of patreon and YouTube thank you so much

love that you're here okay warning ugly

news we'll start with the unlocks as

usual and there's a lot portal big

unlock 4%

torn never heard of torn 2.4% uler 1 in

optimism Prime Manta dydx

sui uh all unlocking like they do but

Zeta has a massive 16% unlock as well as

GMT Ena and Fort so it's just it's the

summer of raining crypto tokens be

careful out there another ugly news this

is a warning to everybody this is a very

very bad sign we're going to get a

little bit of macro stuff out of the way

first White caller unemployment in or

unemploy employment not unemployment is

weakening in the US these are

professional and business service and

financial information finance jobs Etc

it just Rose 0.6% year-over-year in July

that's the lowest in three or four years

and this in other words employment in

these industries has increased by only

about 126,000 jobs over the last 12

months now white collar job growth has

been steadily declining for the last

three years and in the past a drop was

only seen in 2000 to 2001 and in the

2008 Global financial crisis and of

course c19 is a separate issue because

that's an anomaly but the truth is the

labor market is weakening badly and when

these jobs go the people beneath them

tend to go as well so not good news um

that did warn you also the carry trade

there's now talk of a carry trade unwind

2.0 this you can see here the one the

Chinese one has gained against the

dollar as the carry trade unwinds

but the what people are thinking now if

the Fed rate

Cuts happen fast it could trigger a$1

trillion flow of dollar denominated

asset backed assets to

China and what this potentially means is

it would strengthen the wand by 5 to 10%

and this shift driven by declining

appeal of US dollar and US assets could

see the one appreciate significantly

especially if the US achieves a soft

Landing without triggering a recession

this is another scary sign and there's

more the SEC are still at their silly

little games SEC commission is now gone

to class specify non-fungible tokens

nfts on Open Sea as unregistered

Securities and this has sparked a ton of

criticism and there are several reasons

why some people consider this to be a

little bit let's call it misguided or

silly because the nature of nfts is to

represent ownership and proof of

authenticity of unique items such as

digital

art Etc which are not considered

Securities has the monaa ever been

called as security the answer is no and

the argument is that nfts like art

derive value from their uniqueness and

therefore not a

security we shall see but again Gary

gendler still has it in for the crypto

Community we don't like that anyway um a

representative uh I don't know if he's

Democratic or republican or Congressman

or senat anyway I you know I follow of

politics but this is representative Wy

nickel he said the aggressive use of

Regulation by enforcement from the SEC

is a blatant abuse of power that erodes

trust and transparency in our regulatory

system and this heavy-handed approach

creates widespread uncertainty and

threatens to derail progress and

innovation in the area of crypto well

said

representative and speaking of nfts it

doesn't slow them down however

so you can see here this is the top NF

nft sales by Chain over the last week

you can see biggest dollar amount is

ethereum $38 million but remember 8

million that is wash sales so you that's

when people buy and sell their own

things themselves to make it look like

it's a highly sought-after item so be

careful of that salana is number two at

20 million and Bitcoin number three and

polygon number four binance number six

and then other crumbs down the end what

is interesting to see here thank you

Mike 39 what is interesting to see here

is the number of

buyers the number of buyers on the salon

chain far exceed all the other I'm

talking far exceed all the other chains

combined so that's saying something and

it's up 43% for the week so there's

still a lot of activity happening

although the dollar amounts the actual

ticket value of the nfts and the salon

blockchain are a lot cheaper than

ethereum therefore ethereum wins with a

lot less volume but still it's one to

watch nfts are not slowing down now that

was the ugly news let's get into the bad

news the crypto Market over the last

month and I know by the way people are

frustrated everybody I see it in the

comments like oh I'm so bored with

crypto how come I'm not a a millionaire

yet and where's my Lambo and anyway

that's just the nature of markets it's

when things are most depressing and dark

that's the last time you want to leave

the market trust me on that one but here

the crypto Market over the last uh week

not month title's wrong and you can see

ton coin got hit hard down about 20%

binance down hard Sol down about 5% near

dot po everything's down except for

cardano and kaspa and ICP weird mix of

things that were up in terms of dollar

terms you can see here bitcoin's down

4.8% for the week eth down 2.6% for the

week Etc not a perfect week at

all and and roll on September oh it's

rare I look forward to September but

this year I'm looking forward to

September get this out of the way fear

and greed down to 30 you can see the way

it just tanked there again we recovered

we end up from 26 straight back to 60 in

a matter of days and then we're tanking

right back down again because people are

afraid a lot of fear out there and the

Bitcoin ETFs also suck we had a couple

of good days but unfortunately yesterday

was a negative day down about $127

million obviously I bet Black Rock

didn't buy normally when they buy they

turn everything green but for some

reason they were absent yesterday just

like they were absent on the 15th of

August but so far though that being said

we're still up about $380

million uh if I correct no hang on yeah

about 380 so far in the month of August

no 480 not 380 so it's still not too bad

and there are some negative days these

ETFs so don't sweat it too much in terms

of the eth ETF we'll check in on that we

do that once a week the inflows have

stalled so in fact Black Rock hasn't

bought any eth for 5 days but if you

look at all the action that they had on

bitcoin they've been buying a truckload

like the truckload nearly half a billion

dollars in a week so I'm not sure if the

bloom is off the rows as they say for

ethereum and the grayscale ethereum

trust is still bleeding a little bit too

so that's eth and that explains why it's

under 2500 bucks as well probably now

let's look at net capital flows this is

the Bitcoin realized C Net cap position

and unfortunately the net capital flows

into Bitcoin have also slowed

significantly with only a minimal profit

and loss taking and primarily the

short-term holders are the ones that are

selling the

speculators um a substantial portion of

their supply though is turning into

long-term holder status which is good

this is more than 155

days and the speculative interest in the

Perpetual swap Market has also cooled

down a lot too and indicating reduced

leverage and it's much more of a spot

driven market right now we'll share more

data on that in a second also short-term

holder realized price is now fractally

under cost so anybody on average that's

selling Bitcoin here or losing about 3%

of of their asset and more coins with

losses are being realized than coins

with gains and essentially everybody

selling now bought at a higher price

only a little bit higher though 3% so

that's plus or minus like 61k or so

selling at

59k and ton coin by the way pavl was

released a few hours ago in France so

woohoo uh that's good news but ton is

down he's the CEO of the Tron the ton

Foundation the open network but they had

a massive outage yesterday for about

seven or eight hours and outages are

normal in crypto sometimes for some

Chains It's not the end of the world in

fact the ton coin price was up despite

the outage uh it was down 20% for the

week but up over the last 24 hours and

the dages were allegedly caused by an

unusual Network congestion caused by the

airdrop of a thing called dogs which is

a new ton meme coin H to embody the

whole Spirit of telegram or something

like that I don't know and another

interesting thing pump. fun this is one

that Mando talks about quite a lot but

based on Dune analytics pump. fun

averaged of 15,27 launches between 5th

to the 11th of August

this is a big Decline and ending 25th of

August the protocol averaged mere 8,000

daily launches so it looks like this

meme trend is dying off that is a 47%

declined activity in a couple of weeks

or maybe they're trying to launch meme

coins on other

chains like Tron and others thank you DB

F430 that sounds like an aircraft so

things are happening and despite the

outage yesterday they got it back up but

it did stop processing transactions

again today briefly again it didn't

affect the price because it's one of the

things that's going up in this market

right now in the summer it did have a

bad week but good 24 hours despite

outages and that's why it's it's we've

seen this happen many times in other

chains people think if a chain goes down

it's the end of the world often it

doesn't matter the people trading and

mean coins or whatever else are doing

they can wait a few hours before they

come back and do it again anyway let's

talk about other sad news too the credit

card debt in the US is at an all-time

high nearly approaching 1.1

trillion as of August 14th of this year

this is another milestone in the ongoing

trend of rising Consumer Debt and there

are no signs of this thing slowing down

it's like everybody's throwing the

credit card and credit card defaults are

hovering closer to 9% right now as well

so if you are a credit card company and

you have a trillion dollars in debt you

can write 10% of that off pretty much

things are going to get worse before

they get better unless something

radically changes which I don't think it

will and another scary news too and this

is kind of related to the unwind 2.0

carry trade perhaps but you can see here

that the US holds the largest share of

global equities right now about 65% of

all the value of the global Equity

Market is held by the United States so

typically this is an anomaly so either

two things are going to happen or it'll

stay like this or it'll mean revert

which means the other stock markets will

go up in value or more concerningly the

US Stock Market could tank in value so

we got to watch this space carefully

remember a lot of people as well get

very fearful if a market tanks but

remember if an index tanks it doesn't

mean all assets go down or all get

hammered sometimes it does during a

global financial crisis or something but

this is also one to watch and oil is up

oil loves conflicts crude oil prices

have rallied about nearly 7 to 8% in the

last 3 days on geopolitical concerns

conflict in the Middle East and Libya

Supply disruptions Etc and this is

impacting the price of oil

so this is heading it towards $78 maybe

back to $90 in a couple of weeks or

months and guess what that will do yes

40% of inflation is triggered by oil

because oil is used in everything so for

those people that think they can control

inflation they can't and don't forget

every video is turned into a recap by a

team behind me big thank you to them as

well if you want podcast or all the

slides whatever that's where you get it

now good news at

last after all that ugly bad news this

one is funny okay this is this's a guy

called Steve hanky he's you

know he just hates on bitcoin and he

hates on crypto so he is a little bit

bitter so take take that with the glass

of soul but he says he's so happy to

share he's just excited loves his little

shot in frea crypto owners are

psychopaths and this from the University

of Toronto researchers found that c

cryto holders display lower levels of

analytic and scientific thinking and are

likelier to exhibit psychopathy than the

general more psychopathy than the

general population thank you Kamar

creationss and Andy the Australians are

in the house so I can say this for a

fact I am extremely analytical

okay he said they display lower levels

of analytical and scientific thinking

so whoever in University are trying to

put the study together that you know

Steve Hank is dancing on the grave of

crypto people being

Psychopaths I put this little chart

together okay I'm fine being a member of

this club with all of these literally

very

successful Capital allocators

investors entrepreneurs Etc you got the

Michael Sailors and you got the vitalics

you got the Brian Armstrongs and the

Kathy woods and the Shams and of course

Satoshi nakoa Peter the mark andreon of

course the fster Larry

thinkink

and I forget the name of the other guy

anyway almost had it perfect I should I

should have notes anyway it's okay to be

in the company of these people oh I forg

that's what happened that should be Elon

Musk by there where that guy is I got

remember and I forgot to put the image

in the Box anywh who again watch what

the smart people

do not the others okay so if people like

Steve hanky in the University of Toronto

are calling people that like crypto

Psychopaths I'm sure there's a couple

there's definitely a few sociopaths

running some chains but when you think

talk about things like Bitcoin no very

smart people into Bitcoin so don't be

worried Also let's look at the money

flows we had a positive week last week

inflows totaling $533 million marking

the largest inflow in nearly 6 weeks and

The Surge followed remarks by Jerome

Powell at the Jackson hle Symposium

woohoo let's look at the breakout

ethereum saw uh a little bit of a dump

here 34 35.7 million out again the

drainage continues um gray scale of

course and everything else is kind of

flat bigcoin up 543 multi-asset 20

salana only 100 Grand Litecoin 500,000

xrp 300,000 short Bitcoin 1.7 when that

thing goes up bitcoin price sometimes

goes down cardano 300,000 and that is

the buy asset activity out there now

while everybody is afraid I know people

say Oh Mr 100 with this and that

whatever it doesn't matter anyway

whoever they are whoever they're

stacking on behalf of they DCA very very

well they did move at 70,000 a portion

of their bag to another wallet it wasn't

sold but they've been constantly

snacking on bitcoin especially every

time it falls under

60,000 they don't touch it at 64 or 65

or 63 or 62 but when it goes to 58 or 59

they buy and they bought over 500

Bitcoin in the last 24 hours they have a

kind like

a a limit order in place 100 Bitcoin at

a time and they keep on snacking and now

this is also interesting to show us

where we

are thinking for some positivity for all

you out there this is the price of

Bitcoin on August every day for the last

14 years it's funny 14 28th of August 28

divided by 2 is 14 so there's that but

check this out Bitcoin is at its highest

level on this day 28th of August 2024

than it has ever been okay not too bad

2021 was a 48,900 now it's 59,00 so

nearly $10,000 higher so all is not lost

everybody don't lose faith and the trend

you can see is very clearly up to the

right what will it be next year I don't

know this time next year it could be

back at 60,000 or it could be north of

100,000 we shall see and we'll be here

every day to report on exactly that also

long-term holders and this is kind of

like in line with this other fellow

some people just keep on snagging the

stuff this from crypto Quant in the past

30 days long-term holder Supply

increased by

262,000 Bitcoin they now control 14.82%

Bitcoin which accounts for over 75% of

the total Supply these long-term holder

wallets are ones that tend not to sell

they hold long term so if you wanted to

come in with say half a trillion dollars

and try Buy half the Bitcoin Supply it's

physically impossible so that's just

interesting fact and regarding All

Season Bitcoin wins again it's down to

18 last week was 22 so Bitcoin Remains

the actual winner out there right now

today let's see how it compares to the

rest you see the very top left is Tron

crushing it for the week you got a as

well doing very well kaspa even xrp is

there from some court case dismiss

and Bitcoin despite despite it being

this by the over the last 90 days

despite Bitcoin being down 15% over the

last 90 days it's still not too bad you

got excam as well down 15% SL all down

16% Etc and other stuff to the right so

Bitcoin is holding up very well compared

to most assets but remember you can

always pick a point in time where one

asset is bigger than the other but this

is interesting of course the 28th of

August and I did mentioned at the

beginning that the spot is in control we

now have neutral funding rates and it

can be absorbed across the whole of the

digital asset ecosystem it's a bit of an

ey chart but trust me all the top

cryptos are here on the list and you can

see they are all displaying a neutral

funding rate and this underscores the

idea that a major reset in speculative

interest has occurred across the entire

market and therefore spot markets are

likely to the major driver in the seat

for the near term good news speculators

are gone compared to normal and now will

the spot people return maybe will they

sell their meme coins and go back into

hard proper assets we don't know we

shall see also um smart contract

platforms win the month they have zero

return for the last month but that's a

lot better than everything else that was

negative ethereum down 24.5% for the

last month Bitcoin down 12.1% and the

second best category after smart

contract platforms was dpin and then

exchange tokens etc etc exchange tokens

be things like binance Etc so all in all

it has not been a good month but ler

ones have done okay out there especially

with ton and Tron all the ons doing

pretty good also speaking of salana uh

this is the PayPal stable coin and it

just broke a billion dollars the green

is the amount on salana the purple is

the amount on ethereum the ethereum

share of stable coin has fallen and it's

growing up the the the important thing

is the rate of change I want you all to

look at look at that chart it is going

vertical real

fast doesn't take long to get to a

billion then it will take even less time

to get to two billion and then on and on

so watch the space carefully um

interesting to see how PayPal monetized

this because I know having a stable coin

is extremely lucrative so it could be

good for the PayPal stock too um and

helium which is a deepin project on

salana they just launched decentralized

wireless networks in Puerto Rico woohoo

say hi to every in Puerto Rico like Rob

and others out there it's a big crypto

hot bed too and Robin Hood Believe It or

Not re adds salana to their Wallet not

to their exchange I think they have it

in Europe can't verify that for myself

but uh they haven't listed it as a token

you can buy right now in the US on the

Robin Hood platform but you can self

custody Salon tokens and send and

receive over the salana blockchain so

it's great that they reactivated that

and that tells me they're getting ready

to list salana again and tell the SEC to

go pound sand perhaps we'll see let's

check check in on narratives narratives

are very important to monitor to find

exactly what people are thinking where

people are investing Etc these are the

top Q2 not Q3 Q2 narratives meme coins

were the top narrative real world assets

number two AI number three h salon

mcoins number four Salon ecosystem

number five base six base meme coin 7

then layer On's dpin gaming brc2 layer 2

Etc ethereum ecosystem down at the very

bottom with

cats it's uh very bizarre so the

question is what will the narrative be

for Q3 that's where you want to be and

we'll see is it going to be rwi is rwa

is going to be dpin or is it going to be

AI we'll see we'll talk a bit about AI

in a second too also how do you turn an

old thing into a new thing you change

the name maker Dow which is the one of

the

OG players in

defi they decided to Rebrand themselves

a sky defi Sky I get it I didn't mean

for that to rhyme introducing usds on

Sky tokens as part of its strategic

transformation and rebranding aligns the

sky endgame plan to address both

scalability and Regulatory challenges in

Defi and the defi Community reaction is

mixed with some concerns about maker

dials decentralized

ethos the ogs don't like it but that's

how you take off an old coin and give it

a new name who knows maybe some others

will do this tooo we've seen a little

bit of rebranding across some different

chains like madic as well I forget what

they're called but they Chang their name

too or they're going to change it we'll

see anyway uh let's look at the stock

market over the last seven days and we

get into some AI stuff Tech down pretty

much across the board Tesla down 7%

Amazon 5% Google 2% meta 3% Microsoft 3%

Nvidia 1.44%

but you can see the financials and the

pharmas and the energy and even the real

estate companies are all kind of in the

green which is

unusual unusual see everything moves now

Nvidia earnings that's most interesting

this from Muhammad L Arion he says that

Nvidia earnings are now as important as

a US jobs report well you know

why AI matters and the jobs reports are

complete lies so so yeah that makes

complete sense let's look at the Nvidia

earnings they did post right now I was

actually delaying this video so I could

check out the earnings myself and make a

post on it right now Invidia is trading

at 120 bucks so it did take a little bit

of a dip the earnings did beat they came

in 68 cents versus 64 expected Revenue

was 30 billion versus 28.7 billion

expected but nothing like the beats that

they had in the

past uh guidance 32 and a half billion

is up but again

as I say as as things get higher and

higher they begin to slow down nothing

can go up forever they did also announce

a massive $50 billion buyback $50

billion in stock and Blackwell is coming

in Q4 and the stock is down right now

it's down

$561 but it was down as low as

$9 now this is one of the reasons why we

rotate from certain assets if you have

an asset that goes up say

1,000% it's not going to do another

1,000% the market cap won't go from 500

billion to 3 trillion and then double

again to 6 trillion there simply isn't

enough money in the world for that to

happen at this stage in a short wind of

time that's why you need to think about

rotations that being said our friend of

the channel Tom Lee believes Nvidia is

not expensive he was on cnbs

and he said it is trading only at 28

times forward earnings and he believes

the two one of the two tech places he

likes he believes it's very good to be

in both AI also him and his partner Mark

believe Nvidia and Tesla are the top two

names to be in but you can see one of

them is running out of steam after a

rampage like we've never seen before and

that's normal the other name however

this is just a little piece on Tesla by

the way I drove the new uh model y

Hardware

4 15 or version

12.5.1 point5 whatever the the latest

one it was embarrassing because this car

literally now drives better than me and

I consider myself a very good driver I

sat back and watched this thing do a

thing the Precision and the accuracy is

mind-blowing and I'm not the only one

saying that too just check check Twitter

watch the videos yourself

nobody realized what's coming and the

next two years for AI will be massively

transformative where are your seat belts

there are things coming you can't even

imagine right now it's going to be

Bonkers anyway back to just Tesla this

is a cool little piece from Sawyer Merit

and the EV guy but Tesla has secured

$133 million mega mega pack contracts to

double Queensland shout out to all the

Australians and the audience at it's

already Australia's biggest battery and

after the expansion the total size of

this commercial energy battery storage

will be between 550 megawatts and 1,80

megawatt hours and just in the last year

Tesla has secured $3 billion worth of

mega pack orders from Australia alone a

country that only makes up 0.3% of the

global population but they're very vocal

and they're very powerful and they're

very good at everything but that $3

billion figure or just the ERS we know

about this energy storage mega pack

business is huge I said conservatively

the MEAP pack business alone should be

worth a trillion dollars today and it's

not you buy the whole company for half

of that and that excludes all the other

good value to doing so that's why I

remain very very bullish shout out to

the

Australians the world needs more energy

and the world needs to store it whether

you are getting your energy from flare

gas or nuclear energy or the Sun or the

wind or the waves or the waterfalls you

need to store it so watch this space

it's going to be fun and thank you all

for coming hope you enjoyed the show big

sh thank you once again to the

moderators in the chat and something

must have happened on the Nvidia

earnings call because it's Fallen but

Bitcoin is back to break even for the

last 24 hours so that's not too bad

thank you Sean Donley thank you TD Tesla

K8 and everybody here on the team and DB

for all coming

F430 that might actually be a Ferrari I

need to check that thanks all have a

good night

[Music]