Thu. Dec 7th, 2023

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00:00 how’s it going everyone it’s Sam we have
00:03 a lot of good news to cover here today
00:05 from the East Shanghai upgrade to
00:08 important inflation data that just came
00:10 in after CPI it’s today not yesterday’s
00:13 information we have really good data
00:15 coming there we have news about some
00:18 massive adoption that’s coming Twitter
00:20 allowing people to start buying crypto
00:22 and we have a lot of other information
00:25 to cover as well keep in mind I’m
00:27 talking about Good data good news and I
00:31 think crypto could do really well
00:32 because of it but I’m not saying to go
00:34 put all your cash into the market right
00:36 I always preach you know having
00:37 diversification having some cash on the
00:39 sidelines
00:40 so if crypto falls down I’m not
00:42 surprised right we’ve moved a lot but
00:45 this news should be good overall over
00:47 the long term for crypto I also want to
00:51 say you should stay through to them
00:52 because this is a bit of a longer video
00:53 I’ll put timestamps underneath the video
00:55 but all of it is important and I do want
00:58 to thank Today’s Show sponsor damex but
01:00 we’ll talk more about that later the
01:01 market is looking really good Bitcoin
01:04 above 30 000 about 30 200 ethereum near
01:08 2000 and you can actually see on the
01:11 last 24 hours ethereum outpacing just
01:13 about everything right 5.3 percent of
01:16 course Lido staked ether which moves in
01:18 logstep with ethereum is up 5.7 percent
01:21 and it’s actually in the top ten now
01:23 which is surprising uh so this is pretty
01:27 good the price action is pretty good and
01:29 part of that might be because yesterday
01:31 we got really good CPI information today
01:33 we’re getting really good PPI
01:35 information so the producer price index
01:37 came in at negative point five percent
01:40 month over a month the expectation was
01:42 zero percent and the last was Point uh
01:45 negative point one percent so PPI year
01:47 over year two point seven percent the
01:49 expectation was three percent last was
01:52 4.6 percent
01:53 now I think this is really positive
01:56 obviously uh the producer price index is
02:00 a leading indicator meaning basically if
02:02 producers have to pay less then
02:04 eventually they will pass that on to
02:06 Consumers because there will be enough
02:07 competition here
02:09 so this oftentimes comes down more
02:12 aggressively than something like CPI or
02:14 it comes down before CPI now the mix
02:17 between this being quite positive and
02:19 CPI being really good yesterday as well
02:23 I think this will cause the market to
02:25 get really excited now then we’re going
02:27 to start looking at okay if inflation
02:29 comes in lower and lower and it looks
02:30 like if that’s going to have to stop
02:31 raising rates how does the economy look
02:34 so that’s where maybe more Spotlight
02:35 will be thrown at that from maybe now on
02:38 as opposed to everyone and their brother
02:41 looking at PPI and CPI people will start
02:44 looking at whether jobless claims at
02:47 what
02:48 um what are GDP estimates at that kind
02:50 of thing
02:51 now the market yesterday said we’re at
02:54 about 33 chance of zero rate hike this
02:57 will have to change I think it’s a
02:58 little bit delayed
03:00 but uh there’s still about two-thirds
03:03 chance that we’re going to see a 25
03:04 basis point hike
03:05 I would expect that to shift a little
03:07 bit throughout the day maybe the zero
03:09 percent will move up closer to forty or
03:11 fifty percent especially with this good
03:13 PPI keep in mind we don’t have to wait
03:15 too long until the next fed meeting May
03:17 2 and 3 is the next fed uh meeting fomc
03:22 meeting so a couple weeks and then we’ll
03:24 get the next Fed rate decision
03:26 now between now and then we do have some
03:29 more uh economic data we’re going to
03:31 have a lot of earnings reports obviously
03:33 which is going to influence the market a
03:35 lot so we could get some more volatility
03:37 but I think this is a really good sign
03:39 that we’re getting this data now let’s
03:41 look at some cryptocurrency prices
03:43 Bitcoin not moving too much on this news
03:45 honestly you can see we went up to 30
03:48 500 or so yesterday thirty thousand four
03:52 hundred today and Bitcoin dominance is
03:56 coming down a little bit obviously
03:57 ethereum is doing quite well other
03:58 cryptos are starting to run a little bit
04:00 keep in mind on the eth Bitcoin chart
04:02 we’ve seen this pattern where we just
04:04 continue to see lower highs so just
04:07 because we’re moving up now doesn’t
04:09 necessarily mean it’s ethereum season
04:11 against Bitcoin or anything like that
04:12 you can see just over the last two days
04:15 this is the uh this is what we’re seeing
04:19 right it’s halfway to the last Peak
04:21 basically maybe two-thirds away but
04:24 until we break about the 0.68 level you
04:27 know we still have a lot further to go
04:28 and then we need to break this downtrend
04:30 as well but ethereum itself is looking
04:32 good over 2 000 right now so if you’ve
04:35 been buying ethereum that’s fantastic
04:37 good for you because it is nice when you
04:40 can buy something like this and then it
04:41 pumps we’ll talk about why that is here
04:44 in a second now to break up the flow a
04:46 little bit I want to talk to you about
04:46 partner of the channel damex which is a
04:49 digital assets finance application that
04:51 has moved to earn components to it they
04:54 have an ieo coming up here very soon
04:56 that’s going to offer a lot of utility
04:57 first of all let me show you what their
04:59 CEO says about their project and what
05:01 they’re doing so what is that mix think
05:03 about your banking app fuse with your
05:05 exercise app and your cryptocurrency app
05:08 all in one we’re essentially rewarding
05:10 people for being active with
05:12 cryptocurrencies for moving their
05:14 banking application that’s right damix
05:16 is a challenger banking application
05:18 you’ll have your own account in your own
05:20 name your own iban and sort code you can
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05:24 and you can pay bills by using your
05:26 these were approved MX Visa card or you
05:29 can send payments to friends and
05:30 families now starting April 19 they’re
05:33 going to have an ieo this token is going
05:36 to provide some utility to the ecosystem
05:38 basically give rewards on the app
05:40 whether it’s from referring a friend or
05:43 discounting exchange fees on damex
05:45 giving free nft air drops or planting
05:48 trees the ieo is taking place on the
05:51 damex app uniswap bitmart and coin store
05:55 and they’re going after some other
05:57 centralized exchanges here very soon
05:59 total Supply is 370 million so they are
06:03 trying to come at about a 50 million
06:05 dollar valuation there’s no lockup
06:07 either for this sale some of these other
06:09 Investments have lockup periods three
06:11 months six months nine months so there
06:13 shouldn’t be too many people that get
06:15 tokens the first couple days but keep in
06:17 mind a lot of the time there are people
06:19 that dump off even if it’s someone that
06:21 you know buys the first day and then it
06:22 spikes up the price goes up usually then
06:24 dumps off then stabilizes after a while
06:27 so I’ll be keeping an eye on this seeing
06:29 if it comes to evaluation I really like
06:31 it on and if you want me to follow up on
06:34 this in future videos let me know in the
06:36 comment section down below thank you so
06:38 much for watching thank you to damex for
06:39 sponsoring this you can check out their
06:40 links and let’s get back to the video
06:42 now the whole Market is doing well as
06:44 you can see NASDAQ is up 0.44 percent it
06:47 was up about .06 percent or so before
06:50 the PPI came out so obviously it’s
06:52 moving up on this news
06:54 and ethereum obviously like we said is
06:57 doing quite well too the Shanghai
06:59 upgrade went through 111 378 ethereum
07:03 has been withdrawn and Lido has
07:05 withdrawn a total of 63 695 accounting
07:09 for a 57.2 percent now this is how it
07:11 breaks down over 19.19 million are
07:14 currently staked on Beacon chain and the
07:16 average price of ethereum staked is
07:19 1964. so just barely in the profit now
07:22 since staking went live one million
07:24 ethereum rewards have been generated
07:26 so partial withdrawals are balances in
07:29 excess of 32 eth earned rewards are
07:32 withdrawn to an ethereum address and can
07:34 be spent immediately so people can take
07:36 the rewards off right away this partial
07:39 withdrawals is what allows that the
07:41 validator will continue to be part of
07:43 the beacon chain and validate as
07:45 expected they’re basically just again
07:46 taking out the rewards full withdrawals
07:48 the validator will exit and stop being a
07:51 part of the beacon chain the entire
07:52 balance 32 eighth principle and any
07:54 rewards of the validator is then
07:56 unlocked and allowed to be Sprint spent
07:58 after the exit and withdrawal mechanism
08:01 is complete so partial withdrawals are
08:03 processed much faster than full
08:04 withdrawals only
08:06 19869 validators or about 713 000 each
08:10 are currently waiting for a full
08:12 withdrawal accounting for three point
08:13 five percent so a very small amount of
08:16 people actually want to get all their
08:18 eth off a maximum of 16 withdrawals can
08:20 be processed in a single block and 115
08:23 200 validator withdrawals can be
08:25 processed per day regardless of these
08:27 factors it took five days to process
08:28 withdrawals from 567 201 validators so
08:33 we do have some people taking off their
08:35 uh their rewards basically a lot more
08:37 people taking off their their partial
08:40 withdrawals basically then full
08:42 withdrawals out of the beacon chain
08:44 which is really positive for the price
08:46 that’s why I think we’re seeing a bump
08:49 in the price now is because it’s not as
08:51 bad as people thought right we’re above
08:53 two thousand dollars because people are
08:55 actually seeing there’s not that much
08:56 selling pressure people are generally
08:58 keeping their ethereum in there maybe
08:59 it’s because well if I was willing to
09:02 put it in there this whole time and now
09:03 I can actually withdraw it well now I
09:05 know I can withdraw it so then I feel
09:06 more comfortable leaving it in and you
09:09 can also see more people are actually
09:11 depositing this is something that I had
09:13 as a theory for a while and said on the
09:14 channel a handful of times is that after
09:18 this goes through a lot of people will
09:20 be willing to deposit for the first time
09:22 like I would be more willing to deposit
09:25 now than I was a couple months ago
09:27 because now I actually know that I can
09:29 get my ethereum off in a timely manner
09:31 so this is uh showing the eth
09:34 withdrawals and deposits or the 2.0
09:37 withdrawals and deposits basically
09:39 showing that yeah there were a ton of
09:41 withdrawals at first a few people
09:42 deposited but not very much not many
09:45 people with deposited here but we had
09:47 less and less withdrawals over time and
09:50 then this last bit here we had 11
09:53 584 deposits I’m guessing that’s just
09:57 ethereum and then we had minus seven
10:00 thousand withdrawals so basically
10:02 showing yeah a lot more people are
10:03 starting to deposit because they’re
10:05 comfortable with it they can see that it
10:06 works well and less people withdrawing
10:09 because they would have started
10:10 withdrawing right away or close to the
10:12 beginning to get their name kind of in
10:13 line so I think this is really positive
10:15 we’ll have to see how this continues I
10:18 wouldn’t be surprised if again a lot of
10:20 people start depositing especially some
10:21 bigger institutions start depositing
10:23 instead of withdrawing
10:25 and with ultrasound money showing here
10:27 that the e-supply continues to dwindle
10:30 almost consistently going down
10:32 when we’re in a bear Market it’s
10:35 becoming harder and harder to get your
10:36 hands on ethereum which causes a lot of
10:40 price appreciation and so if if you can
10:43 get an asset that gives you four or five
10:45 six percent rewards almost like a
10:47 dividend in each
10:49 and it’s also becoming more and more
10:51 scarce that’s quite attractive that’s
10:53 why this whole time when I’ve said that
10:55 I think there could be a sell-off ahead
10:57 of this or when this happened right when
10:59 the Shanghai upgrade went through but I
11:01 was not willing to sell my ethereum
11:03 that’s why because I didn’t want to give
11:06 up on this because I do think that this
11:07 is a good long-term asset I didn’t want
11:09 to place a bet a short-term bet and sell
11:11 all my youth and then feel like I
11:13 couldn’t buy back in because oh we went
11:14 from 1800 to 2000 in a day or two days
11:18 right that’s why I wasn’t taking a big
11:20 bet on this because honestly you could
11:22 have gone either way or could go either
11:23 way even from here but when we went
11:26 through with this uh upgrade in the past
11:28 too so that there would actually be this
11:30 Burning mechanism
11:32 if you remember the price actually went
11:33 up pretty drastically after that
11:35 happened so we’ll have to see how this
11:36 all shakes out I would not be surprised
11:38 if the ethereum Bitcoin dominance moved
11:41 up or the the Bitcoin chart moved up
11:44 kind of hit some resistance and then
11:46 fell back down I would not be surprised
11:48 because I still think it’s Bitcoin
11:49 season but who knows that’s why I still
11:52 have a bag of eat that’s why I still
11:54 have
11:55 about 13 of my portfolio in I’d love to
11:57 put more into it for the next Bull Run
12:00 but we’ll have to see how this all
12:01 shakes out now Twitter has some big news
12:04 Twitter is going to let Bitcoin and
12:07 crypto starting today uh crypto Trading
12:10 start today in partnership with etoro
12:12 according to CNBC now it’s not just
12:14 crypto there’s also stocks that are
12:17 going to be offered on the platform now
12:19 to break this down a little bit further
12:20 though we know that Twitter recently
12:23 moved into X so the company itself
12:26 Twitter
12:27 is now absorbed into the the all-in-one
12:30 app that Elon has talked about obviously
12:32 this will give them a lot more ways to
12:34 monetize it’s a lot more to handle
12:36 though and is gonna probably take more
12:37 employees as well but I think this was
12:40 pretty obvious that this was going to
12:41 happen I was kind of surprised though
12:43 that it happened this abruptly basically
12:45 the day that it’s going live
12:47 we’re hearing about it and we haven’t
12:49 really heard too much in the past now
12:52 maybe this is good for Dogecoin who
12:54 knows but I think it’s good for the
12:55 whole cryptocurrency industry as well
12:57 because it’s one more place where people
12:59 can easily buy cryptocurrencies and
13:02 stocks too it’s easier to buy stocks in
13:04 crypto at this point though which I
13:06 think will be really positive for the
13:08 for the crypto industry now to be clear
13:11 it doesn’t sound like right now it’s
13:13 going to be on the Twitter app they say
13:16 you’ll be able to click a button that
13:17 says view on turo which takes you
13:19 through the to the etoro site and then
13:22 you can buy and sell assets on the
13:24 platform etoro uses trading view as its
13:27 Market as its Market data partner so
13:30 right now it doesn’t sound like you’re
13:31 going to be able to buy directly in the
13:33 app I would expect them to try to roll
13:35 that out though because otherwise
13:36 they’re giving up a lot of business
13:37 hopefully they can do that
13:40 because I think that would also cut down
13:41 friction right if you know that you’re
13:43 on the Twitter platform and you’re
13:45 buying stocks as opposed to they just
13:46 throw you to some other website it would
13:49 be almost like an ad right you’re not
13:51 going to go click an ad for every stock
13:53 platform that shows on Twitter but who
13:56 knows I still think this will help
13:57 Twitter help crypto but I would like to
13:59 see it actually in the app
14:02 now we heard yesterday the FTX has
14:05 recovered 7.3 billion some people say 5
14:08 to 8 billion of their assets
14:11 FTX was considering restarting the
14:13 crypto Exchange in the second quarter
14:15 according to their attorney
14:17 now FTX token has started pump 63 in a
14:23 day after this news came out going from
14:25 a dollar uh one dollar and thirty cents
14:27 up to at the peak about 2.72 cents
14:30 sitting at nearly a billion dollar
14:33 market cap
14:34 I’m not going to touch this betting on
14:37 the FTX uh app coming back and honestly
14:41 if part of it’s a principles thing too I
14:43 I don’t want to touch this after FTX
14:45 screwed so many people I don’t know how
14:48 this would actually get approved
14:50 I think they should just return the
14:53 money as much as possible they still
14:55 have a shortfall
14:56 but maybe they try to do some token uh
14:59 to recover more funds and then
15:01 distribute that out kind of like an IOU
15:04 or something there’s another big crypto
15:06 that has done that in the past
15:08 so
15:10 I’m not touching it let me know your
15:11 thoughts on it though would you buy ftt
15:13 token or FTX token now
15:16 and let me know your thoughts on Twitter
15:18 PPI ethereum the upgrade right now it’s
15:21 looking really good for ethereum but I’m
15:25 gonna be continuing to kind of sit and
15:27 watch ethereum at this point again I
15:29 have some exposure but not adding a lot
15:31 right now again thank you to damex you
15:34 can check out their links underneath the
15:36 video and I’ll see in the next one bye

Check out Damex below!


0:00 Intro
1:01 Market Overview
1:29 PPI Inflation Numbers
3:40 Bitcoin and Ethereum Charts
4:44 Damex
6:42 Ethereum Shanghai Upgrade Data
12:01 BIG Twitter Crypto News!
12:02 FTT Token Pumping

Special thanks to Damex for sponsoring this video!

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