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 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
