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WHAT IS HAPPENING WITH CRYPTO RIGHT NOW? (BITCOIN, ALGORAND, TERRA LUNA, MOONBIRDS) - YouTube
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yes welcome back everybody to altcoin
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daily my name's Austin the Bitcoin price
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is ranging right now and we are ranging
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hard and while we did a deep dive on
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what to expect if you're a Bitcoin
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holder in yesterday's video it is linked
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down below watch this interview if you
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have not already because in today's
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video we are just talking altcoins so
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like always check the timestamps down
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below find the news that's best for you
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and let's jump in starting with our
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first piece of news involving algorand
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algorand has just rented out a Times
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Square billboard to tout their green
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credentials ahead of Earth day but this
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ad buy comes with a dark twist so if you
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hold algo token a lot of you are excited
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about this I guess this is a rendering
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of Al Grant's Times Square activation
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this is what the ad is intended to look
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like but in their viral attempt to send
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a message I guess on Thursday April 21st
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which I guess is Earth Day they will
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darken Times Square in New York to
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exhibit algorand's dedication to
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sustainability so they will darken Times
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Square to show that Al Grant cares about
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the Earth saving energy the Takeover
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will begin with a billboard showing an
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environmentalists called action so we'll
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begin with their ad before going dark
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for an hour starting at 8 pm eastern
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time the ad spending is pegged to Earth
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Day in the U.S in a direct quote from Al
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Gran Foundation CEO on why they're doing
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this we wanted to make a bold statement
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on a large platform to educate the
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general public that advances in
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blockchain technology like those
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employed at algrand have made it more
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green and more sustainable than the
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first generation proof of work
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blockchains and definitely more green
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than traditional Banking and Financial
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rails very interesting I could see
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something like this definitely being
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picked up by all the mainstream media
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outlets and potentially going viral and
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just to give you the stats Times Square
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going dark for one hour saves 6500
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kilowatt hours of electricity according
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to algrand and their CEO said that that
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figure is equivalent to 350 million
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transactions on the L Grand blockchain
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if you hold Al Grant give me your
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thoughts on this but let's keep moving
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next piece of major news for ethereum
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nfts that is sort of coming with some
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controversy but Moon birds nfts fly on
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their debut clocking in over 200 million
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dollars in sales and the project is the
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first tied to Kevin Rose's proof
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Collective a private community of nft
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collectors whose membership pass cost at
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least 99 ethereum so this private
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Collective sort of got their first pick
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got first access to the mint I believe
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but let's just go over the details and
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unpack This Together the collection of
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10 000 pfps profile pic ask nfts has
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racked up 69 000 ethereum worth hundreds
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of millions of dollars in total sales
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boasting a floor price right now of 21.3
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eth roughly 64 000 each for each of
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these nfts there's a minimum of a sixty
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four thousand dollar floor price at
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least at the time of recording the debut
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put Moon Birds on top of Open Seas
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volume leaderboard not just for the week
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but for the last 30 days ahead of azuki
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at around 50 000 ethereum volume and
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ahead of board Abe Yacht Club around
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thirty five thousand ethereum volume so
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it's beating out the blue chips at least
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for its first month anyway final
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thoughts the controversy for this mint
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was this the Project's mint came with
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some controversy from complaints of a
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hefty 2.5 very mint price to also raffle
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manipulation and concerns of Rarity
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sniping which is projects leaders buying
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up rare editions using Insider knowledge
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by its developers anyway that is what's
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going on in nft land as I get more info
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I will keep you updated
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and next piece of quick news for Terra
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Luna Terra Luna stablecoin UST becomes
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crypto's third largest so the dollar
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pegged UST has overtaken binance USD to
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become the crypto Market's third largest
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stable coin by market capitalization a
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big day if you hold Terra Luna as their
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stable coin is a part of the ecosystem
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now will this trend continue is this
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just hype at the moment time will tell
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time will tell but just to paint a
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picture on what's the difference with
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these stable coins
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busd for example is a Fiat backed
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stablecoin meaning the stable coins
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custodian in this case paxos for busd
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holds the equivalent amount of busd
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circulating in cash cash equivalents or
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other traditional assets so the backing
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is held by a centralized custodian very
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similar for usdc and usdt but with Terra
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stablecoin however is built much
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differently instead of a centralized
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entity holding traditional assets be it
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cash or bonds this stable coin is
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designed to keep its Peg to the
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Greenback the dollar via a mint and burn
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mechanism as well as Savvy market
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arbitragers and UST is what's known as
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an algorithmic stablecoin here's how it
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works to create one UST users must first
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buy and then destroy one dollar of Luna
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terra's governance and sticking token
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the inverse is also true each time you
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swap one dollar of Luna for USD You Must
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Destroy one UST and thus it's supposed
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to keep its Peg to one dollar anyway at
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the moment people are believing Terra
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Luna stablecoin is climbing the ranks
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and next up in 60 seconds or less I do
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next piece of news on ethereum as well
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as the ethereum foundation the ethereum
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foundation now reports to hold nearly
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0.3 percent of all eth in existence so
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for the first time ever they put out an
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annual report just going over some of
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the stats the ethereum foundation
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treasury has 1.3 billion dollars in
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ethereum over 300 million dollars in
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non-crypto Investments and another 11
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million dollars in other
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cryptocurrencies according to a 2021
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financial report released today so
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obviously we knew they had a lot of
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money the question on everybody's mind
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was always well how much ethereum do
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they actually own because they were
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there from the beginning they you know
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they did a pre-sale do they hold a lot
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of the supply
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well as of March 31 2022 again this is
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just according to them the foundation's
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ethereum Holdings Mount nearly 0.3
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percent of the entire eat Supply which
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honestly not that much
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so take this as you will this small
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number is bullish to me but again I I
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wish we had a third party to come and do
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their own report and verify this
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next piece of privacy coin news for
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altcoin Monero the Monero Community
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reaches consensus for their July hard
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Fork so this is going to be an upgrade
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for the coin here's what this upgrade
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means
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the popular privacy coins hard Fork will
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include increasing the Chain's ring size
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from 11 to 16. adding view tags to
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outputs to reduce wallet scanning time
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as well as introducing bulletproofs and
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implementing fee changes so a lot of
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different big words let's break this
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down together number one first and
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foremost is the increase in ring size
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raising the number of ring signatures is
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meant to ensure that transactions have a
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larger anonymity set making it harder to
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reverse engineer the source of the
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transaction so this should make it more
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private as for view tags one developer
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pointed out that view tags could reduce
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Network scanning Times by up to 40
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percent so making it more efficient
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in deriving the output public key for
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its Anonymous transactions so more
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efficiency and finally the upgrade of
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bulletproofs a zero knowledge proving
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system will be used for range proofs in
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Monero the feature will result in Faster
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encryption and verification on the
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blockchain so a little bit more private
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a little bit more efficient the Monero
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Community is Happy anyway that is the
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video my name is Austin I will be
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responding to you down in the comments
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at least you know throughout the day not
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not every single minute of every day but
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I will talk to you down below in the
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comments and like always see you
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tomorrow
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