Can we hold 100k? As treasury yields spike in the US and Japan, BTC will need to stay above the six-fig mark to maintain market morale. Breakout or fake out? ETH outperforms, Bitcoin dominance falls, and many alts see big gains. Is altcoin season about to begin or are we getting ahead of ourselves? Power players, we turn the spotlight on some altcoins that appear to have some serious potential. Here’s what you should be adding to your watch list and a closer look at last week’s top performers, dates for your diary, tweets of the week, heroes and villains, and much more besides. This is the Coin Bureau News Live. GM afternoon or indeed evening. Happy Monday and welcome back to the Coin Bureau crypto news live. My name is Nick joining you of course from the Coin Bureau HQ here in Dubai and Guy is joining us from an undisclosed location somewhere. How you doing Guy? That is right Nick. I am at an undisclosed location. I’m doing okay, but as you may have heard from the headlines uh read um I’ve got a little bit of a stinking horrible cold. So, I’m a bit bunged up and yeah, a couple of octaves lower than normal, I’m afraid. Well, guys, in the comments, wish Guy well and of course maybe play a bit of a speculation game where Guy could be. Where could he be? Geo Geio spotted the geoloccators are out, guy. Yes. Why is Guy in a Norway prison? He got it first time. Oh, well, that was that was no good, was it? Guy, to be fair, the Norway prisons are are known for their luxury. So, maybe that’s not it’s not an insult. Maybe it’s a compliment. Yeah. You know, I’ve got a whole load of books here in Norwegian that I can read after the stream. A lot of people seem to think I’m in prison. Yeah. Yeah. Okay. Guys in crypto prison. Cool, guys. So, we’ve got a lot to cover today. Of course, obviously. Will Bitcoin hold above 100K? Before we started the stream, it was edging at about 103K after a massive rally overnight. So, we’re going to look into that. We’re also going to look into whether we can even postulate or think about the idea of an altcoin season. What do you think? Altcoin season. Maybe. Maybe. Well, I have some thoughts on that, Nick. I have some thoughts. Let’s just put it put it like that for now. Yeah, but if it is alcoin season, we’ve also got a few alts to look at potentially that have been performing very well. So, we’ll get into that all of that. But of course, guys, please fire up those likes and don’t forget to subscribe and let us know in the comments down below how you feeling about the markets. What do you think? Are you looking at any particular altcoins? Where do you think Bitcoin go could go before the end of the year? And we’ll come back to them halfway through the stream. Absolutely. And um let us know as well what you think of Nick’s new look as well. There’s sunglasses, you know, sunglasses, muscle vests. I’m I’m here for it all day long. But I want to disappoint, man. I’m going to the beach afterwards and you know, I’ll just roll with it, you know. Fair enough. Fair enough. Cool. Guys, let’s start off. Let’s kick it off with some looking at the Bitcoin price, right? So, let’s quickly take a look firstly what happened last week. Uh so, of course, uh Sailor, the Chad Sailor bought on Monday last week, a pretty big buy. uh 13,390 BTC which is over 1.3 billion. So big buy there from Sailor holds over 568K in BTC. Crazy few few bit less than than Black Rocks IB but he’s he’s chasing them. Um then on Monday as well we also had the closure of a CME gap which I talked about in the stream as well. Now, what’s interesting is every single time I’ve referred to the CME stream on the CME gap in the streams, um it’s been closed either to the up or the downside, which shows how much of a good indicator the CME gap is. So, yeah, we closed the CME gap last week, and we also opened up another one overnight, which was closed, which I’ll get to, but um that’s good news for the markets going forward. Uh Tuesday and Thursday, not much was going on, although on Tuesday, we did have a big MA macro data release, which is of course the CPI data. and uh the the the markets rallied into into that and they actually came in below expectations by 0.1% which is interesting on the headline number although core came in at expectations so many people were eyeing the this CPI read and it seems as if things are still cooling um and even more so on the PPI front because the PPI was an actually an unexpected decline of 0.5% versus an expected 0.2. Yeah. So that’s I mean that’s good news, isn’t it? That that data is is all moving in the right direction. Exactly. Yeah. So it seems as if potentially the Feds Well, we’ll get to the Fed’s probability numbers in a bit, but it seems like we could still be going towards cuts about September time. Um on Friday though, just you know, irrespective of that, we had the news that Moody’s was cutting the US credit rating down a notch. Um so this obviously took the markets a bit by surprise. Um and it also led to the sell off in US bonds um in both the 10ear and actually on the 30-year the yield is now slightly below 5%. It’s near those recent highs we’ve seen. So the bond vigilantes are back guy. That is that is just what we need Nick. The return of the bond vigilantes. What I didn’t actually realize until um I was looking earlier today was actually of the there are three credit ratings agencies, right? And Moody’s I think is actually the final one to downgrade the US. The final one. Yeah. S&P and Yeah. So the one they were the holdouts, you know, but depends how much you actually put weight on what the rating agencies say when they rated triple AAA uh subprime debt in 2008. So you know, it is what it is. Um this did lead to a small dip in the price of Bitcoin. um on Friday but it still held above 100K but most of the action on Bitcoin from the relates to Bitcoin price happened over the weekend. So overnight we had a massive rally of up to 107K um and uh it then again quickly and precipitously retraced in the morning. Uh the Bart formation is indeed back. Ah there we go. There you go. The old B most reliable technical analysis indicator there is. Um so we fell to as low as 102K this morning Dubai time. Uh and um this was basically a textbook short squeeze followed by an aggressive profit taking or stop run. It was a very big liquidity run to those levels and it wiped out over $460 million in long positions and $23 million in short positions. So both the longs and the shorts got wrecked in the span of a few hours. Wow. Wow. But but one person wasn’t put off. Am I right? Who is this guy? Who could that be? Who who who would be I mean who would be under these conditions just buying Bitcoin just like oh wait walls of steel. Ah him indeed. Indeed. Sailor come out 764 million. You know it’s nowhere near last week’s but it’s still still a hefty amount. Decent sum notching it up. So his average price is 69k 69k 726. So that’s his average price is now around Bitcoin’s sort of previous all-time high from the last cycle. That’s because most of his buyers have been recently indeed more than half of his buyers have been over the past few months. Um so taking a look, one more important thing to point out over the last week um was the fact that last last night we closed the highest weekly close on Bitcoin’s chart in history at about 107 106K. So that’s many people are pointing to that as a potentially bullish indicator of course. Um and then moving on to a quick few charts in terms of data. Um one of these this is an indication of who’s been buying the the Bitcoin. You if you’ve been selling and you hold less than 0.1 Bitcoin in your wallet, unfortunately it’s been scooped up by the whales and sharks. So this is the shrimps with less than 0.1 BTC and the whales and sharks have been accumulating based on uh the wallet balances. Uh, so they’ve accumulated 83.1K Bitcoin and the the the shrimps have lost their Bitcoin to them. So there your Bitcoin guys. Yeah, a liquid supply is also running up. It’s at the highest levels ever and the liquid supply is defined as the supply held by illquid entities and basically it’s the supply that’s not really on the market which of course points to a potential supply shock incoming. Uh, so that’s bullish. Yeah. And then another thing that’s bullish is the options markets. Basically, this is the skew which it measures the implied volatility of puts visav calls. And this is now down into the negative territory minus 4 to9% which is basically means that um it reflects a notable shift towards risk on behavior as options traders are leaning bullish because the calls have more implied volatility than the puts. And despite the sky um the the retail interest is still not there. It’s crazy, isn’t it? It’s I mean this is what makes this this market just really difficult to to try and call at the moment, doesn’t it? Because as you’ve just shown, you know, we’ve got two really positive bits of data there, the the the options data and the um and the illquid supply. Both of those suggest, as you say, that we could be on the verge of, you know, a big breakout to the upside. And then you see, it’s like, well, no one’s interested in Bitcoin. It it would seem. Yeah, indeed. And um it’s not it’s also more recently we’ve seen a bit of a slowdown in the inflows onto the ETF side. Uh so the daily inflows uh which you know could portend potentially us holding around these levels. Um but where are we going this week? So let’s quickly look into that because that’s probably what everyone’s keen to find out. Well, I mean for one really big news that’s right now affecting all markets is of course the discussion around the spending bill. a big beautiful bill that will include potentially raising the debt ceiling uh that everyone’s looking at and this is obviously also impacting on the debt markets and then will also impact on trady markets. Yeah. Yeah. And I mean this is just you know you look at this and this is just should be long-term positive for risk assets again shouldn’t it? And and I think back to the to the election in November last year and I think the one thing that sort of united both Harris and Trump, you know, in terms of what their policies were, neither of them were were considering neither of them really talked about reducing the deficit, did they? Like, you know, it’s just it it’s just spend spend spend smoke and mirrors. It will always go up. The deficit spending is here. It’s forever. Um and uh as a result of that, potentially the markets are looking not too hot. the trady markets. Stock futures are looking down. Um, so that’s that’s what we’re looking at. And then also, so that’s what we’re looking in the trady markets. When it comes to Bitcoin, as I said, we did quickly close a very small CME gap over the weekend or over Sunday night. So that’s good. That’s being closed. Means we don’t have another one to close. We could potentially head higher. Um although and um uh I’ll also mention that we do on the daily have a potential golden cross incoming. This is of course whether when the 50 uh day moving average crosses over the 200 day moving average and I don’t need to say that of course golden cross is uh is a bullish indicator as opposed to the death cross. Um one thing to watch out though for though we do still have a lot of liquidity pools um just below 100k. Uh so this is the liquidity heat map which means market makers and liquidity runs they could still push Bitcoin lower to reach those levels hit those stops and then on the on the short side and then uh potentially uh take us up again. So we’ll have to see how that plays out. Um but of course guys if you want to follow day by day trade by trade I will refer you to the Coin Bureau trading channel with that QR code you can scan there and go and subscribe to the guys. Dan’s just put out a video looking at whether um you know what’s h what’s going on with this market correction. Uh and in speaking of the trading uh the traders as well, Erin did a video on the more coin bureau channel looking at hiking ashy clouds which are basic candles sorry which is a Japanese uh candle formation and he would know cuz he he lives in Japan. So um you guys go and check that out on the more coin bureau channel to subscribe. Just hit that QR code in the top. Where is it now? I’m going to put my hand over here. There we go. top top right guys. Yeah. Yep. Candles. I am Yeah. Can can people be people be honest in the comments and and say if you’ve ever heard of hikinashi candles because I must say that is a new one on me. Yeah. You always learn. We’re always learning guy. It’s a learning curve is always steep in crypto. Absolutely. Absolutely. There’s always something more to learn. Um would you Nick like to learn a bit about uh how sentiment is holding up in the comments? Let’s go. Let’s go. Let’s go. It’s I would say it is generally very very positive. Most of the negativity is once again uh around uh me. Um I’ve seen some comments living on streets. Um thank you for everyone who’s uh sending um sending uh get well uh messages. That’s very nice. Yes. Um it’s uh that that is nice. I am feeling I am feeling pretty crappy but um yes and um a few people oh this yeah this is a favorite Nick about to step into his jet by the guy I’m Maverick bro you’re the guy in the fighter in that soap with camel or the one you’re the the red baron bro yeah yeah well you know if I’m having a if if I’m having a bad day Alex Beck’s having a worse day because he’s just been compared to well you know I don’t know, I don’t know. Could be. I don’t know, man. Doesn’t live long here. Yeah. Cool. Okay. So, yeah, generally pretty positive in the uh in the comments. So, always good to hear. And thank you, as I said, to all the um all the get well messages. I’m sure I’ll be feeling better in time for next week’s live stream at least. Um but you know, Nick, one thing that would make me feel immeasurably better. What’s that, guy? Let’s see if we can do it for you. Is if if we could please just have an alt season. Oh, man. I don’t know if I can do that, man. Vanish all my symptoms and I’d be just I’d be happy as Larry. So, the question is, is there is there one coming? Can we expect an old season or this crypto genie is going to have to ask you to make another wish, my friend? I’m afraid you say that. Yeah, it’s it’s the biggest question on everyone’s mind right now indeed. Like, um what if this was a fake out and there won’t be an old season? Um so, I don’t know. Look, I mean from a technical perspective, we have broken out above a trend line. This is the others chart. So, this is um uh you know the market cap of the the altcoins below the top 10. Um and many alts offline, most notably ETH, right? Yep. Yep. And as we’ve seen as we’ve seen in previous cycles, uh alts generally tend to follow ETH. I mean, I guess you could argue that what with the market structure changes we’ve seen over the last year, year and a half, um maybe that uh maybe that paradigm is no longer applicable, but I would say that there is probably still a fairly good chance that if ETH got a sustained rally, then that would bode very well for for alts in general. Yeah, indeed. Um and indeed, there’s many uh altcoin bullish posts all over on crypto Twitter now. So it seems uh many are calling for the collapse of Bitcoin dominance and altcoin the altcoin season to come. Um so you know are we in an alcoin season? No, not yet. I mean if you look at straight up at the our beloved indicators the infamous altcoin season index. We’re still in Bitcoin season. Um so we then have to ask ourselves okay is when is altcoin season coming? Is altcoin season coming? And what do we need to look at to indic to tell us whether we are heading towards an altcoin season? whether we are seeing the first blossoms or blooming of an alcoin season and one of the first things I will state from a from a historical perspective is that uh is the firstly the timing. So generally altcoin seasons will happen about one about 320 days after the bitcoin uh h havinging and that was March this year. So you know it hasn’t happened yet. So from that point it it’s we’re not in alt season yet. Yeah. Yeah. That that I would say is is kind of concerning um because Yeah. I mean we’re it’s not like you know obviously these things aren’t aren’t accurate to to the actual day but you’d think you know that is that is starting to become very late now so that that would worry me I think also we should consider monetary conditions as well um because if you cast your thought back thoughts back to the last cycle Nick alt season didn’t start until uh the Fed ended QT ended quantitative tightening um and began cutting interest rates and obviously that led to a rise in in liquidity globally. Um now, you know, the Fed has scaled back QT in the last few months, but it is still it is still happening. It is still going on. And as we’re going to see with uh with interest rates, that’s that next interest rate cut, that next interest rate decision just keeps on getting kicked further and further into the future. Exactly. Yeah. Now it’s projected to be about September for the first cut and then only two additional additional cuts this year. Yeah. Yeah. Which again like it’s it’s hard to see th those conditions those monetary policy conditions just don’t seem conducive to to to alt season. Yeah indeed. Much less any sort of QE. Um and Bitcoin dominance as well which is one of the biggest indicators for altcoin season. Although it did fall recently, it’s now picking up again. Um, and it’s nowhere near below the 54% level, which is generally thought of to be when alcoin season could start. Um, and Grayscale Zack Pandle said it’s more likely that Bitcoin’s dominance will plateau as opposed to moves sharply lower. Um, so he says that volatile if volatility returns then investors could move back into Bitcoin as a safer digital asset. So they could favor that still over else. Yeah. And I think as well, you know, al although although we sort of got what we wanted in a way in that the pool of Bitcoin investors, I think has expanded massively with with things like the ETFs and all the other sort of products that now give you exposure to Bitcoin. Um, and that’s obviously a good thing, but I think I I think a lot of those a lot of those investors aren’t really the type um as like they were in previous cycles to necessarily want to rotate into alts. you know, Bitcoin, as we’ve discussed before, is kind of, I think, for a lot of people, um, as degenerate as they are comfortable getting. Yeah, indeed. And they or or if they’re in investment vehicles like ETFs, not easy enough to rotate. Yeah. Speaking of retail interest in altcoins, if you want altcoins to rally, you need retail. And uh, the retail interest in altcoins is even less, at least as it relates to Google search results, than uh we’ve seen with Bitcoin. So, that’s not coming. And one more indicator that we can take a look at is altcoin trading volume. So I pulled this chart from crypto quant and it’s the volume of altcoin the altcoin trading spot volume and you can see the level we were at in 21 2021 and May 2021 off the charts then again in March 2024 was much lower but still you know much higher than we are now. Uh January 2024 those red dots and then now with that white arrow. So we are far far below any sort of retail driven altcoin trading frenzy. And speaking of people who I’ve spoken to people about it as well on the exchange side as well as the market making side, there is just not a lot of volume for altcoin trading right now. So yeah, many of those indicators show that it’s still nowhere near alcoin season. Yeah. Yeah. And I think as again as we’ve discussed before, I think most crypto market participants at the moment are kind of seasoned, you know, seasoned pros. They’ve been in the trenches for for a long time now. And you know, as we’ve seen, we get these kind of localized pumps that happen very suddenly, very quickly, and then quickly fade out. And I think that’s because of the type of people who are in the market right now. They are they’re cycling in and they’re cycling out very, very quickly. And if you throw that in with the fact that there’s so many altcoins, you know, there’s so much there’s so much choice, there’s so much fragmentation of liquidity, um, it makes a it makes a sort of classic alt season. And when you factor in all those other things that we’ve just talked about, it makes a classic alt season very hard to, you know, even imagine at this stage. Yeah, it’s going to definitely be localized focus on some really top tier projects with strict product market fit and within particular narratives that are hot with retail. So that’s the kind of alcoin season we or kind of altcoin rally we’d likely to see. But the broad-based one that’s not on the cards this cycle unfortunately guys. Um, now time for a classic, The Wall of Fame and Shane. [Music] Okay, you’re happy right now, guy. Let’s see what they’ve cooked up for us. That’s Oh my what? Well, guy, you I mean, and it’s classic. He’s drinking from an Ethereum cup because that is exactly what the kind of individual who would buy Ethereum. An alien. Mr. Bean an alien. Guy, you’ve done Mr. Bean impressions, man. So, you’re pretty good with it. Yeah. Yeah, I did do um when we when we used to do those uh those disclaimers, you know, with costumes and stuff at the beginning of a video, I did I did a Mr. Bean one. I watched it back not so long ago. I was I was pretty pleased with it. We’ll have to we’ll have to see if we can dig it out. Do it again. We’ll put it in the links below. Sorry, guys. Who am I supposed to be? Is that like the guy from Fast and Furious? Just the guy in the EP. Mr. Bean. It must have been EP. Yeah. Oh, okay. Sorry. I don’t even know. I need to watch that. I want to see in comparison or not. Anyways, uh who is on who’s on the wall of shame today, guys. There we are. Coinbase. Yeah. So, this is um this is this is a bad this is a nasty story, this, isn’t it? because um so they had some uh they had some customer sort of representatives and customer service people who were outsourced in in other offshore jurisdictions um and some nerd do wells I think they bribed these people didn’t they in order to to get them to to reveal um a lot of very sensitive user data. Yeah. Um and when you combine that with the fact that the SEC this this I thought was very interesting. This is actually um a hangover from the Biden era. So, the SEC were investigating claims about Coinbase uh allegedly inflating its user numbers. They’ve been doing that for a while and that and um that investigation is is ongoing as well. Coinbase calling for it to be uh for it to be dropped. But so with that news and also this uh this breach, it’s a pretty bad week for Coinbase. And I think you might argue that perhaps it’s a bit harsh to put them on the wall of shame. After all, it’s the um it’s the exploiters themselves who are the real bad guys here. But I think, you know, you’re a crypto exchange. You’re you’re the most arguably the most well-known, one of the most visible. Um, security just you needs to needs to be better than that. Well, yeah. I mean, to be honest, why is it that MP employees in offshore locations which you which you have no real oversight of have access to information such as your name, email address, contact number, masked social security numbers, and the worst of all, your address. Right? information is very valuable to a uh well it’s very valuable to a hacker or indeed an extortionist because the wor you know the best case scenario is potentially you get many fishing attempts but the worst case is someone knows where you live they know not only do they know where you live but they know how much you’ve got in your Coinbase a balance right because that’s also actually been breached as well so it’s a very scary situation yeah absolutely absolutely so I mean you would imagine um that anyone who lost money on on this because I have seen I have seen stories of people you know getting drained um because of this but uh you’d imagine that Coinbase will will make them whole. I mean that’s um uh that’s what you know the first thing that needs to be done but um yeah I think this is a lesson and I I remember reading as well I think that um a similar similar attempts were made against Binance and Kraken as well. So um this is but I you know they uh they managed to stop them or or they just didn’t work. But yeah, this I think this just reminds people a the importance of self-custody and b, you know, exchange security. There are just there are always attack vectors, aren’t there? There are always um, you know, blind spots and it’s kind of, you know, it’s a game of whack-a-ole with these with these villains to to keep them out. Indeed. Well, anyways, on to the who’s on the wall of fame today. Uh, yes, El Salvador, Mr. Na Bklli. Yeah. Uh this is because uh they well their stash is now sees $357 million in unrealized profit and also I think they told the IMF to go shove it right. Yeah. Yeah. So the the IMF um and and El Salvador agreed a fairly hefty loan which as we’ve covered in videos before IMF loans come with a whole load of strings attached. Um and uh yeah, one of them was um one of these strings was El Salvador needs to stop buying BTC. Um and you got to hand it to uh to the Chads of El Salvador. They said uh nope, we’re not going to do that. Um so they’re still they’re still stacking those SATs and like obviously we talk about Michael Sailor and Micro Strategy every week and you know how how crazy it is that you’ve got this you’ve got this company, you know, buying BTC by the truckload. But, you know, we forget there are nation states doing this as well. And I’m I’m sure El Salvador is not the last of those. You know, in future we will be reporting on on these sorts of buys by by other countries. Yeah. Al Salvador. Yeah. Yeah. The the Chad. Um so, moving on from Bitcoin stacking to altcoin stacking again. Now, obviously we talked guy about um whether we could be seeing the blossoming of an altcoin season, but and that there were specific altcoins that have done very well and narratives that have done well. So, I thought it’d be a good opportunity for us to now discuss at least three altcoins that have done very well. One of which is an OG and two of which are new and offering different uh product market fits and strong product market fits. Um so, the first one guy is Monero, right? Yeah, that’s right. So, XMR has uh has really been flying of late. Um it’s up over a 100% um from its lows in early April and it’s now trading um near it near the highest levels it’s been since uh 2021. Wow. Crazy. Yeah. And this is this is all on a potentially a few factors. One of them is the regulatory outlook for privacy coins in the US could be improving. it could become more optimistic and that’s because a proposed Fit 21 act is advancing in Congress and and it has erased fears of an imminent crackdown on privacy coins. And there’s also this um developers are now planning a significant protocol upgrade um known as full chain membership proofs which is expected to go live later in 2025. That’s right. And and this is uh this is apparently going to enhance Monero’s uh privacy still further. um and is uh meant to guard against um quantum attacks as well. So it looks like it this is this is uh Monero becoming quantum resistant. Future proofing for decades ahead. I like it. Yeah. Another really big thing that obviously pumped Monero’s price two weeks ago more specifically was this $330 million Bitcoin hack which crazy. It was a fishing attempt and a fishing hack on an elderly gentleman elderly grandpast whale. um that saw the bitcoin was stolen and it was la sent to different exchanges and it was subsequently laundered into Monero. So that caused a 45 to 50% spike in the price of Monero on a on in a day. Yeah. And I mean that that’s you know that is a slightly sort of uncomfortable reminder like Monero you know Nick I think you and I are both big fans of Monero. Yeah. Um and you know it is the most amazing technology. no one’s been able to crack it despite, you know, despite repeated attempts by by intelligence agencies. Um, and yet it’s still it’s still going strong. But I think this is probably the only thing that’s really going to hold XMR back is kind of its image as, you know, as a tool for for unfortunately this sort of thing. Um, and of course, you know, it’s been delisted from a lot of exchanges in the past because of those associations. Um, and it’s a shame because like you know the fact that it’s a privacy coin does mean that it’s you know open to being exploited by um by uh criminals for for those sorts of purposes but you know shouldn’t take away from the fact that it’s also there for for you know to protect people’s privacy which is really really important. Exactly. Exactly. Um, so that’s Monero, another really interesting coin which has been rallying recently. Um, and from from a D5 perspective, but perhaps one of those with the most potential for integrations with Tradfi and this is ENA’s ENA. Um, which notched doubledigit gains over 15% in 24 hours around May 13th and after breaking out of a multimonth downtrend. Yeah. Yeah. I’m pleased to say, Nick, as well um I actually bought some um a few weeks ago when it was uh when it was in that downtrend. Yeah, congrats. Congrats. Pretty pleased with myself uh since which makes um yeah, I want to go and follow. Um Athena is a really interesting project though, isn’t it? Um and obviously USDE, which is well, we can’t call it stable coin because it’s it’s not a stable coin, is it? It’s a synthetic dollar, but you know, stable coin will will do for for these purposes. Um, so USDE, uh, there have been a couple of big integrations for USDE just in the past for Fortnite or so. Um, earlier this month, uh, Athena, you might remember this, partnered with Hyperlid, um, to launch USDE on Hyper EVM. Uh, so there was that, uh, that big integration. And also um uh not so long ago either it partnered with um Ton and Telegram um to bring you both USDE and state USDE into Telegram um appar and apparently it’s offering sort of around 10% APY on that as well. Question yeah which seems to be a bit above what’s currently offered on uh uh in on for SUSD yield. Maybe it’s uh maybe they round it higher on in the article or we try to check into that but it’s really interesting and obviously this is thinking about how big the telegram ecosystem is the ton ecosystem but then also think about over a billion people use telegram so it’s a big integration and it’s not just that there’s also growing adoption and online and onchain fundamentals so onchain metrics show a surge in adoption and investor confidence see over the last week new addresses holding ENA jumped 56% and active addresses rose 37%. Yeah. And there’s also been uh an enormous spike in actual sort of large transactions. So this is transactions by by Wales or institutions or both. Um so and so by large I mean sort of transactions in the in the re in the range from all the way from $100,000 to $1 million. Um and transactions in that range are up over 600% week on week. Yeah. It’s crazy. So the whales are buying the whales are stacking ENA. Yeah, most definitely. And I mean I think as well, you know, Athena has been is still a sort of relatively new uh protocol, but it has it has stuck around. It hasn’t had any issues. You know, obviously there was a big market downturn a while back which wrote which it wrote out very well. Um and obviously the longer that that goes on, the longer it’s it it functions and keeps going um and does what it’s supposed to do, obviously that is going to build uh confidence um of you know people to deposit on the platform. I should say actually I’m keeping some of my dry powder in uh in USD on on Athena at the moment and yeah as you say like the it yeah the APY is only about 5% there but it’s you know better than nothing and um yeah so far Athena doing doing what it said it would set out to do indeed and speaking of another project that’s doing what it set out to do in a big way this is of course Hyperlit now we’ve talked about it multiple times before um but in terms of product market for cryptos, for crypto traders. There is nothing else there out there that that beats it right now. And for example, we seen the TVL. It’s still skyrocketing. Check out that chart. Um it’s over a billion in locked value. Crazy. Um and also another factor is bridged TVL. This is also important because it gives you an indication of how much liquidity is flowing and bridging into uh Hyperliquid. So that’s also near alltime highs. Yeah. And of course, you know, Hyperlquid is is competing, you know, not just with dexes, but with with with centralized exchanges as well. Um, and obviously centralized exchanges are still and have been for a long time under a lot of regulatory pressure. Um, so Hyperlid, you you could argue has a real edge there because it’s not having to deal with that. Um, and as we’ve just seen, Nick, you know, what what’s just happened with Coinbase, um, all this KYC data that these, uh, centralized exchanges are obligated to to collect now that there is a huge risk from that. Um, and I’ve seen a lot of discussion recently on on crypto, Twitter, and and elsewhere about, you know, just the the drawbacks of this of KYC. You know, I’ve I’ve seen it referred to as a sort of KYC industrial complex. you know there all these ownorous um ownorous steps that that ordinary users have to go for and it’s a real it’s very questionable how much good it actually does you know how much kidnap your clap your client kill your client knife your client that’s what KYC is in facilitating now um yeah so obviously this gives Hyperlid a massive edge when it comes to you know it um its competitors Yeah. Uh speaking of which, you take a look at this this chart in terms of the um uh volumes and uh uh open interest of Hyperlquid versus some of the centralized exchanges um over the past I need to check the time frame on this, but that’s crazy to think that this is a per DEX literally. Yeah. Challenging the top tier sexes. I mean it’s crazy, isn’t it? Because if you look at those metrics like it is so it’s got such a massive lead on all of them, you know, it’s you can’t just say it’s inched ahead. It’s it’s putting daylight between it and its nearest competitors. Yeah. Yeah. There’s a lot still coming for Hyperl. One of the most interesting things is this um improvement proposal which would basically allow for uh the decentralized perpetual market creation. Now the idea here is to basically allow hyperlquid holders or hype holders to basically vote to create their own listings for particular pairs and this is fully transparent onchain which is a market change from how it operates now in sec in the centralized exchange land where you don’t really know when coins get enlisted how they get enlisted why why they get enlisted whereas yeah it’s basically down to the community to vote for these per listings. So that’s an interesting improvement proposal. Yeah. Yeah. And as we’ve seen and I think discussed on previous streams like Hyperlquid has been very good about listing you know about offering markets especially for sort of very new and very buzzy coins you know new cryptos hitting the market. Um which is you know I think what a lot of a lot of traders want to get involved with. Um so you know they’re able to sort of meet meet their demands. Um so that leaves one question Nick because I know from looking on the Coin Bureau Club website that hype is on your watch list. Yeah. Is there is there a price that you’re targeting to get in at? Well, it’s it’s blown through there like I was holding hoping for a retracement and unfortunately didn’t come and uh I watching continue rallying away. I guess I don’t have a lot of stable coin bright dry powder right now. So, I would have to sell out of some of my SWE or um Salana bags and I don’t know that’s a difficult one um or because those or at least SU has been doing very well. Salana still I’m bullish on that. Uh, so we’ll see. But I’ll of course update the people in the Discord server. If you’re in the Coin Bureau Club, you can follow my moves there. And if you’re not, well, the link is down below to the Coin Bureau Club where you can not only check out my portfolio, but that of guys and indeed the rest of the Coin Bureau team who’ve got a lot more of a DGEN portfolio than than me or guy. Yeah. Yeah. There’s some there’s some there’s some really degenerate we work with some very degenerate people. No, 100. Exactly. judged by their portfolios. I yeah, some of them I just I can’t look at. So, if you guys are bullish on any of if you’re bullish on hype or you’re bullish on any of these coins we’ve talked about or indeed any altcoins for that matter, if you are feeling the altcoin season FOMO, well, um then you’ll need to be buying those altcoins or trading those altcoins on the best exchange around and that is of course Binance, our brand partner. Um, so if you can scan, if you scan that QR code or with the link down below, you’ll be taken to sign up if you don’t have an account already and you’ll get a 20% trading fee discount for life as well as a $600 bonus over on Binance. Very good. And uh, as I said earlier, if this whole business with Coinbase uh, over the last week or so hasn’t served as a timely enough reminder, um, yeah, self-custody is the way forward. You should be securing your assets on your own hardware wallet device. And thankfully, our second brand partner, Ledger, have a couple of excellent uh new devices on the market. And if you sign if you buy one using our link down below, um you also get a $10 in free BTC uh gift card that you can use to load it up with and get yourself started. Yep, indeed. And um if you guys are looking to scout particular altcoins, you’ll need to obviously be doing your onchain research and uh give you that market edge. So you’ll have to check out our third brand partner which is Arkham Intelligence. Now they’ve obviously got an exchange that’s now launched in numerous different US states as well as globally and you can get 50% off trading fee off trading fees there as well by signing up with the uh QR code or the link down below. But something else that may be of interest is that Arkham shared some insights with us. Um, some movements last week that weren’t shared on their Twitter. And the first one now guy get this. World Liberty Financial bought some EOS. I know that was my initial reaction. I know. I was like, EOS, it’s still alive. Okay, that is that is interesting. I mean, is EOS is EOS seen as one of these American cryptos? I think Dan Larammer, one of the founders, is is certainly American. Both of the founders are American. I I and I don’t even know it’s called EOS anymore. I thought it changed re rebranded. I think they rebranded to Vulta or something similar. Um but I mean, everyone still calls it EOS. Um okay. Well, that’s an interesting move by World Liberty Financial. Maybe maybe they know something we don’t. Maybe. Well, we’ll see. I don’t know. It did pump the price. Yeah. Or maybe they’re just making it up as they go along. Yeah. Um and we also had the news that uh so someone has been buying ETH obviously um but uh someone um an entity called Abraas Capital purchased not far off a quarter of a million ETH within the space of a week. That’s around $561 million. And again um this is something that uh this is something that Arkham shared with us as well. That’s wow. Ballsy ballsy big move there. Interesting. Yeah. Yeah. Cool. Okay. So, thanks to our brand partners there. Let’s have a look now um at some of the uh top performers or last week’s top performers. Nick, I’ve got to warn you, it it wasn’t one of those weeks. This wasn’t. It wasn’t. There aren’t many top performers to Well, they’re not up a lot and you had to explain why they weren’t down a lot. Exactly. Basically, basically. Yeah. Um and uh we had to filter a lot of them were exchange tokens. Um so, we always filter them out because you can never be quite sure of the price action on those. And uh yeah, usually when it’s a bunch of exchange tokens among the top gainers, you know that it’s not been a good week for everything else. However, uh some things did do uh did do well com compared to everything else. Uh top of the list was Onyxcoin. This is XCN. Um this is one we’ve discussed. This has been a top gainer fairly recently as well. The only reason I could find for this um was launching on DYDX, but I don’t know whether that would be necessarily enough. So, um, yeah, not entirely sure why XCN has been pumping that much, but there we are. Um, now the next one is one we were just talking about, and that is Hyperlquids hype. Yeah, indeed, all explained. Um, and then another one we were talking about as discussed, Monero, XMR, um, regulatory tailwinds and protocol upgrades. Yep. Um, and then the other one, now this shows what this shows what sort of market we’re in at the moment. The other top performer from last week that wasn’t an exchange token is Pax Gold basically token coin. What is what is Pax Gold guy? What is gold? What is what is that is? Well, that is that is gold as tokenized by Paxos. Um and uh yeah, so basically gold um gold has been doing very well recently, but yeah, like I say, if uh if tokenized gold or you know, some other stable coin is is a top performer, you know, it’s not been a great week. Yeah. No, it hasn’t. Quite the contrast from the week before. Any time for some tweets of the week, guys. Okay, who do we have first? Nick, one thing, guys. First of all, if you want to follow us on Twitter, if you’re not following already, scan that QR code there in the corner. That will take you to the the coin the Twitter account on all of CT that gives the best alpha and updates you’ll get. Um, so the first tweet guy uh tweet of the week is uh from Hot Ethereum and this is a play on the uh the Coinbase hack. This the famous trade off a meme. I get labor, you get kidnapped. Yeah, man. There’s the trade. At least he sits in pretty. You know, apparently um Brian Armstrong Coinbase spends $6.2 million a year on Brian Armstrong’s security. Wow. Yeah. Okay. Well, so he’s safe, man. He’s cool. He’s safe. Brian’s all right. Well, that is good. I’m I’m pleased to hear that. I’m glad Brian’s safe. Yeah. Yeah. Now, what about the rest of us? Okay. Uh next up, we have this one from from Mo Shake. Now, you’ve interviewed Mo before, haven’t you? Yeah. Yeah. So, he’s the ex CEO of Aptos, who uh was uh whether he left Fourstar, whatever. I mean there’s there’s rumors here or there, but it’s interesting that he is now saying he’s got a sui bag. Interesting. Yes, that is uh that is yeah, no doubt um no doubt designed to uh to raise some hackles elsewhere. Uh so there’s obviously a lot of drama behind that post from uh from Mo there. Um okay, next up we have uh this one. Oh, speak we were speaking of Athena earlier. Yeah. Um so this is uh this is Athena’s Guy Young. Um uh I had five people message me today for a reference on someone claiming to have worked at Athena as a quant engineer called Paul Quan. Uh we have never employed them in then Kobe who I think you described earlier Nick as the signature ship poster. Yeah. Yeah. Damn straight. Think he was going by do when you hired him Doan’s moonlighting as the Athena. He’s trying he’s Athena dev. He worked on Athena. He built the tokconomics for Athena. Yeah. Wow. Imagine USD the USD dynamics underline the the USDE protocol. Okay. Um yeah, great reply from Kobe there. All right. Um and this one, explain this. Explain this, Paul. Uh let’s stop calling non-crypto natives normies. Great way to scare them off. What should we call them instead? Muggle. They haven’t been to the Hogwarts School of Crypto Wizardry. Yes, the coin you’re a Hogwarts school. I kind of feel that the intersection of crypto and Harry Potter is is just not something the world needs. We’re not ready for that yet. Um, yeah, definitely not. I’m very against that. Well, to be honest, guy, with many people’s underwater bags, the only things that will save it is magic. So, they may want [Laughter] to school of crypto wizardry. Oh my goodness. Anyway, okay, Nick, cheer us up with some news of coins to watch. Coins to watch. So, today, 19th of May, it’s a big day for XRP holders because XRP is launching CME futures products on the well, CME futures products. So, that’s really important because guy, as you’ll know, um the requirements to get a CME listed futures product is one of the requirements potentially to get in a ETF spot ETF product. Yeah. Yeah. And obviously um Salana had uh its its CME product launch a few weeks ago, didn’t it? Yeah, exactly. Yeah. So these two potentially are the front runners for those ETFs. Second coin to watch. Now, we did mention this last week, but today is the actual day of the unlock. This is Pith Network. 58.62% of the circulating supply is being unlocked. Pretty big, man. That is big. Well, as as a as a Pith holder, Yeah. Let’s just let’s just get it over with and move on. The Hoover Dam is breaking, bro. Just get that liquidity. Yeah. Just just make sure that liquidity. Yeah. Um then the 22nd of May, the official Trump, it’s the next era of Trump will be announced on the day of the dinner, which is of course the dinner with Donald Trump on May the 22nd in Washington DC. So yeah, we got the next the next era of Trump. I can’t wait to see what it’s going to involve. Yeah. If uh if anyone if anyone watching is going to that dinner, um I’d love we would love to hear back from you. Um give us some intel. Yeah, give us give us the inside scoop because I’m sure that is going to be utterly surreal. Um and probably probably quite a lot of alpha there. Yeah, no doubt, man. They’re probably going to get the the dips on the latest uh presidential meme coin launch. Um yeah, uh 22nd of May again, another day. It’s Bitcoin pizza day. Wow, guys. God, I’ve never seen a person so enthralled with a pizza, a piece of pizza. You really positively like you’ve been famished in the desert in the in the desert outside of Dubai and you found the first pizza place. It was It was a good pizza. It was a good pizza. Nick, I know I know you enjoy nothing more than than a good pizza. So, you will Oh, yeah, man. My goto. Uh and then on also on the 22nd of May uh is uh Salana’s accelerate conference. It’s actually a few days but this is where a lot of potential upgrades, updates, announcements will be released uh for Salana. Look out for news on the Seeker phone uh the um and then of course the fire dancer upgrade for node force validator clients. So lots of exciting news coming out out of the Accelerate conference. Yeah, that’ll be an interesting one, I think, as because as we covered in that Salana video recently, there is a lot of stuff in the pipeline for Salana. So, that’ll be interesting to see what what that conference throws up. Um, we’ve got some dates for the diary as well. Um, today actually, there’s one happening um some good news for Coinbase for a change. Um, today it’s being added to the S&P 500. Yep, indeed. And this is obviously potentially leads to um uh bidding for Coinbase because obviously passive trackers that track the S&P 500 will have to buy Coinbase and then there’ll also have to be pension funds that make adjustments. So keep an eye on on coin price today. Yeah. And um then this week more broadly like we don’t exactly know the date when it’s going to happen, but we could potentially see a vote on the stable coin build. Uh the genius one. Uh this is according to Cynthia Lamas who said she expects a vote this week. Yeah. Yeah. These So, there was a bit of a setback to um to sort of the stable stable coin legislation last week, wasn’t there? That the Democrats some of the Democrats involved sort of withdrew their support over um supposedly Trump family ties to crypto. But, um I mean this legislation is kind of grinding its way through. So, you imagine we we will get it at some point. So, any progress on that is is is welcome. Yeah. Apparently, there were the Democrats that were the holdouts were supportive of a few addendums that were made. So, we’ll see if it comes. And then one important well, it’s not a very big macro week, but one one macro um data point you want to probably put into your calendars is the 22nd of May. This is the initial jobless claims. Uh they’re expecting 220K um whereas 230K was what we had previously. Okay. Okay. So, those are all uh all things to look out for this week. Um, shall we have a look and see what is uh what’s going down in the comments? Let’s see, man. Let’s go. Okay. Eagle 7500 says, “Disco guy and Nick give me hope for this market.” Well, that’s why we’re here. Disco what do you mean disco guy? Disco guy, I think that should play that again. I enjoyed that tune. I might download that. Um, Magic Man 152 points out Monero still the number one coin used on the dark web. Huge volumes. Well, yeah, then that is going to that is going to uh help with XMR’s price going into going into the future. Uh, meanwhile, Oz cryptocurrency say Nick and Guy are the Staskian Hutch of crypto. Man, that’s cool. We should we should rebrand. Yeah. Well, maybe we can get our production team to to get AI to photoshop our heads onto Star Skin Hutch. Yeah, finally a flattering comparison for us. Please no more of the examples of Rose on the Titanic. I uh but quite quite a um off topic, but I was uh I was um cycling through one of my Spotify playlists in the car the other day and Simon and Garuncle came up, a Simon and Garuncle tune, and all I could think of was that picture where they mocked us up as Simon and Garuncle. Which rather spoiled a good tune for me, guys. I’ve got to tell it’s ruined forever, guy. I can’t watch Titanic anymore now. What am I? I can’t. That was utterly It’s rude for me. Poor poor Kate Winslett. No, I can never look at her the same way. Oh dear. Um, okay. And, uh, are there any others? I wanted to A few people claiming to have heard of, um, hikinashi candles. Um, SJT Productions, hikinashi, not hikinashi, are good for seeing the pattern trend, whereas standard candles are good for price action. Okay. Interesting. Interesting. Did you know that before watching Aaron Spit on more coin bureau SJT productions yeah that’s interesting he probably got the alpha beforehand and came back and um and apparently our good friend Ben Cowan um has talked about Hayanashi candles before although I did see um someone comment on Erin’s video that Ben doesn’t pronounce it correctly as the Japanese pronounce it and uh and Erin’s pronunciation is best cuz Erin would know cuz he speaks Japanese. Yeah, I will be sure to remind Ben of that next week. Um, he’s or this week, assuming he’s not at the Bitcoin conference. I’m not sure what. Yeah, it’s it’s Is it Is it not the Bitcoin conference this week in I think it is. It’s either this week or the week after. I’m sure it’ll be corrected. I think it’s this week, but we’ll double check that. Um, oh, it’s always nice to get a compliment. Mo Harris says, “Guy has really nice teeth for a British, right?” I mean, it depends what’s the benchmark here. What this this sort of meme of British people having terrible teeth is uh is a little outdated, I think. But I’m Yeah, I mean, it is. Yeah. I’ll take any compliment I can get. Meanwhile, Kian wins the battle. Guy, you’re beautiful the way you are. That’s nice, isn’t it? That’s a positive note. Such a positive note. More of this. Guy, you’re beautiful and have nice teeth. Wonderful. Okay. Um, fantastic. I think uh, yeah, generally generally people are holding up well in the comments. It’s a little bit more of a uh, it’s a little bit more bearish this week than it was last week, but obviously uh, you know, we had that big pump last week, but um, I think we can I think we can What do you think? If you check the Bitcoin chart since the stream started, it’s it’s up a little bit now. It’s looking good. Although the the stock markets have completely collapsed um on the open uh the but the S&P is down by like 0.5%. So yeah, I thought what’s this crypto discussion is not a gun show. Yeah, I mean I didn’t get the memo, guys. I didn’t get the memo. All right. Uh well, we will leave it there for this week, folks. Um so Nick, good to see you. I will be I will be back at HQ very soon, so I’ll see you soon. Yeah, indeed, man. how to say safe travels or whatever. Thank you. Thanks everyone for watching. Uh thanks for tuning in. Lots more videos coming your way uh here on Coinb’s main channel. Also on more Coin Bureau, Coin Bureau Trading, all the others uh this week as well. So keep your eyes peeled for those. But h yeah, thanks for joining us and we’ll see you next week, same time. Cheers, guys. Cheers. Like one of your French girls. Feeling like I should have called off from work. God, did you water off his plans today? Nobody knows shorts better than neck. Is it weird that I’m a ru still wouldn’t [Music] that stay [Music] Oh man, that was a good stream. Thanks guys. Now I’m going to go and head to the beach, catch a bit of sun. Check you guys, man. See you.
