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Undeniable Proof the Crypto Market is About to Go INSANE in January 2022 - YouTube
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all right welcome back everybody to
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altcoin daily my name's austin in
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today's video i want to share with you
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undeniable proof that this crypto market
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bull run is not over the mainstream
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media won't share with you charts like
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this but i will
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this channel will and not just bullish
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data but bearish data as well so you
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have the full picture so you can make
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the best decision for you we'll also
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talk about the metaverse as well as top
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altcoins making news so check the
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timestamps down below in the video
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description and if you're interested in
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making money with cryptocurrency click
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subscribe right now we drop a video
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every single day demystifying this
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cryptocurrency market
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let's jump in starting with what are the
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bitcoin miners doing because btc miners
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who have been in the space for a long
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long time usually have a pretty good
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finger on the pulse of what is happening
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in this market
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and as of today the data is clear that
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btc miners aren't selling bitcoin miners
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unspent supply is currently sitting at
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just 500 bitcoin below its all-time high
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meaning these coins that are issued to
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miners as a reward for solving a block
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have never been spent on chain so once
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they mine them into existence they're
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choosing not to sell they're choosing to
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hold in fact miners started hotline
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significantly more btc since march 2020
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the pandemic crash and have not sold
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except for one instance since
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so this is a super strong fundamental
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indicator and let's just look at the
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data the orange is the miner's unspent
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supply and the gray is bitcoin's price
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action and we can see starting in march
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2020 the pandemic crash even though
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price action was consolidating there's a
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lot of fear in the market bitcoin miners
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started to accumulate heavy they knew
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something they knew potentially where
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the market was headed and right now
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where we stand today we are just 500 btc
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below the all-time high of miners
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accumulating and by the way we can not
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only use this metric to understand if
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slash y bitcoin is headed in a bullish
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direction in a bullish trend we can also
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use this to help understand if bitcoin's
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about to enter a bearish trend about
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nine months ago around march may 2020
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2021 excuse me 2021 when bitcoin topped
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out the first time around a 65 000 btc
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it was months earlier that the miners
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started to sell into that price rise
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again they had their finger on the pulse
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they were understanding for some reason
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that maybe bitcoin was getting a little
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overvalued and they started to sell in
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as the bitcoin price continued to climb
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higher
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right now even though the price is
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dipping the miners are still
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accumulating
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all right
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i like it give me your thoughts down
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below in the video comment section
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seriously how much credence do you put
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into this minor activity comment down
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below
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and next up since we've talked about
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minor activity let's now take a look at
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what is happening on chain and use
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bitcoin's nvts to see if the bitcoin
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network is overvalued or undervalued
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based on on chain activity
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nvts is a bit of a granddaddy as far as
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on-chain indicators go but it still
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works this is from willy woo it doesn't
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signal oversold very often but that's
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exactly what the signal is indicating
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now and for perspective the last time we
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saw something like this where bitcoin's
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nvts signaled that the network as a
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whole was this undervalued was once
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earlier this summer where we flash
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crashed to under a 30 000 btc people
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were screaming that bitcoin was headed
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lower but the on-chain data was telling
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us that the network was undervalued the
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time we saw before that was during the
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march 2020 pandemic crash again people
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were screaming bitcoins headed lower but
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in retrospect a great time to buy
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so i love this a very strong fundamental
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indicator and just to clue everybody in
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what exactly is bitcoin's nvt signal
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well it measures the network value
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basically meaning the market cap how
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much the bitcoin network is valued at
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over what activity is actually happening
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on chain
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a high nvt signal or uptrend indicates
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that investors are pricing bitcoin a
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little high at a premium as the market
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cap growth has sort of outpaced the
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actual activity happening on chain
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high nvt signal values have historically
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coincided with market tops
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as opposed to low nvt signals or
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downtrends this indicates that investors
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are pricing bitcoin at a discount as the
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on-chain activity is outpacing the
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market cap growth
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low nvt signal values have historically
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coincided with market bottoms i hope
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that was clear and as we can see right
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now we are at
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an extremely low bitcoin nvt signal
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i will keep my eye on this i will keep
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you updated
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and next up that does bring us to the
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next obvious question that if the
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on-chain fundamentals are so bullish why
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is price still consolidating
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so bearish
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well bitcoin continues to consolidate as
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a macro uncertainty creates weakness
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across global markets
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so it's not just cryptocurrency but
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there is fear uncertainty and doubt
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across all markets right now comparing
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bitcoin's price performance to the s p
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500 and gold all are declining in unison
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just something to be mindful of with
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these ongoing virus variance scares
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so like i said earlier please please
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give me your thoughts on all of this
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down below in the video comment section
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in my opinion when we see bearish price
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action due to fear uncertainty and doubt
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yet bullish on chain fundamentals and
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strength in the network as a whole
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that's usually a great time to buy if
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you believe in the underlying asset
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i'm not a financial advisor make your
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own decisions but let's keep moving
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and by the way just to be real with you
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on this channel it's not always just
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going to be opium or just going to be a
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one-sided analysis i will always try to
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the best of my ability to give you both
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sides of the bitcoin so you can make the
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best decision for you
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the grayscale bitcoin trust has just hit
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its largest discount ever so grayscale's
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flagship bitcoin product is now trading
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at over a 21
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discount the largest ever in its eight
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year long history so this is a bearish
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indicator because it does tell us that
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traditional slash institutional
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investors people who use grayscale
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aren't even willing to buy a piece of
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bitcoin with this massive discount
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this means that new investors can
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purchase gbtc shares at prices
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significantly lower than the actual
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market value of bitcoin while the
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existing hodlers face losses due to the
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sixth month lockup period for the
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initial investment
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so plain and simple i would say that
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until this discount becomes more neutral
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i would be in no rush to turn ultra
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bullish right now immediately
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bullish long term waiting watching
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consolidating short term
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and next up let's talk about ethereum
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the metaverse but real quick i do want
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to take 60 seconds and give a big shout
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out to sponsor of the channel okcoin
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a better way to bitcoin join the fastest
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growing global cryptocurrency exchange
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with the lowest fees around so while
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this is a global cryptocurrency exchange
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they are regulated in the us which i
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like and it's true that they do have
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much lower fees than other crypto
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exchanges out there to understand how
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that's possible i will link our 18
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minute interview with ok coin's head of
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listing he goes into detail why ok coin
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is the better option link down below
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check it out and the final two things
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i'll mention which i think are important
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to you is they not only have the top
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coins the most popular coins on their
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exchange but they also have newer coins
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as well as metaverse coins listed on
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their exchange as well which i like and
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number two ok coin also has 100 percent
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feel staking so you keep 100 of all
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staking rewards earned there is a link
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down below altcoin daily okay coin link
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down below check it out
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all right what's happening with ethereum
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well instagram is now actively exploring
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nft integration says their ceo adam
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massari basically figuring out how to
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make nfts more accessible through their
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platform
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and rather than read you this story let
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me just play you this 15 second clip of
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adam massari answering this question on
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nfts watch this
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nothing to announce yet but we are
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definitely actively exploring nfts and
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how we can make them more accessible to
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a broader audience i think that's an
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interesting place that we can play
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and also a way to hopefully help
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creators
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okay
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short and sweet
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as i get more info i'll keep you updated
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and next up huge piece of news for the
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metaverse chinese investment right now
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is pouring into the metaverse
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this is the data that we just got
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in the first week of december the
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beijing language and culture university
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put out its list of the top 10 internet
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buzzwords of 2021 so the whole year
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and separately the website yahwen zia
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zawi its name means buzzwords or chewing
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words released its own top ten buzzwords
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of the year and metaverse made both
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lists and was the only non-chinese word
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on the second list
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so this tells us that this metaverse
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revolution is not just in the western
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world it's very much in the eastern
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world as well and according to major
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business data site taiyan yancha china
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has registered more than 7 000
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trademarks related to the metaverse give
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me your thoughts on this down below
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i want to be real with you that to me
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this is a bullish and bearish indicator
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because we have seen with the banning of
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bitcoin how china feels about
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decentralized cryptocurrencies they
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prefer control they prefer centralized
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and i would guess they would want their
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metaverse and the metaverse that their
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people get into adopt to be centralized
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as well
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and next up low cap altcoin news for
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energy web energy web is a global
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non-profit accelerating the low-carbon
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customer-centric energy transition by
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unleashing the potential of open source
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digital tech so energy web is a
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cryptocurrency incentivizing green
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renewable energy and the news today is
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their coming to polka dot we are
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thrilled to announce our partnership
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with parity tech to build the energy web
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consortia relay chain in 2022
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the energy web consortia relay chain
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will be positioned as the first
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multi-chain network connected to polka
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dot in a final direct quote from the ceo
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of energy web foundation on what this
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means
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we continue to onboard major energy
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companies to our open source technology
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stack to accelerate the energy
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transition but there is a massive amount
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of innovation happening in other web3
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ecosystems such as polkadot and kusama
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and we want to make sure that this
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innovation comes to the energy sector by
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working with parity to bring the
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consortia relay chain to life
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we can give our members access to new
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innovations like on-chain governance
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native interoperability robust
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scalability and other features
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that substrate and polka dot enable
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innovations like these will help our
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community move even faster in our work
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to create real-world impact on the
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global energy transition
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so love to see the progress
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good for polka dot great for energy web
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and that's the video my name's austin
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like always see you tomorrow
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[Music]
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you
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