GME chat, EF teams up with Reddit and much more - The Daily Gwei Refuel #45 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony cesano and today is the 28th of january 2021 all right everyone let's get into the news from today so basically uh before we jump in actually i wanted to just give a quick shout out to crypto spanglish who is now translating the daily gray newsletter into spanish so if you'd rather read it in spanish rather than english you can go check that out uh and on top of this it's already being translated into french as well for those who didn't know so you can go follow uh the daily gray fr on twitter and you'll be able to check out the french version version there so the french version is just two of the newsletters that get translated um kind of every week i think the

tuesday and thursday edition so it's not every single one of them and the spanish one it's only one so far but there's more coming so yeah really really grateful to these people offering up these translations if you would like to translate the daily grain newsletter into another language be sure to reach out to me you can just dm me on twitter and i'll be happy to to kind of like help you with that and kind of get some get some reach about it as well so that you can kind of add value here so yeah big big thank you again to the people translating it into spanish and french so far it's it's really awesome so i mean we all have been on twitter the past i guess a few days and on reddit and you know seeing all the news about uh the the stock market and the

the kind of gamestop stock going up a lot the gme stock going up a lot uh because of what's called a kind of short squeeze now i mean i'm sure you've already kind of looked into it but i for those who don't know i'll give like a quick breakdown of what what what what happened so what ended up happening is that the game stop uh stock was uh shorted by these hedge funds and these billionaires for many many months they kept shorting it and you know they shorted more than 100 of the outstanding shares so basically what this does when you short us a stock or shorter crypto what you do is you borrow it from someone and then you sell it and then the hope is that you'll buy it back later right at a cheaper price and then you you kind of like pocket the

difference um and kind of like pay it back uh sorry pay pay the um the loan back to the person you borrowed it from and you know you obviously bought it cheaper so you pocket the difference there and make profits from that now as i said gamestop had been shorted for for quite a while uh from for many months uh it got pretty brutalized and then what ended up happening was a subreddit called wall street bets banded together over many months and kept buying the the stock right so they kept buying and buying and buying and buying a lot of it and then one point it just you know they bought so much of it that a lot of it was um you know tied up in these with these kind of retail traders and the price went up now when you're shorting the um the stock

you don't want the price to go up obviously you want it to go down now what ends up happening and why it's called a short squeeze is that the price goes up so quickly that the people who shorted it are forced to to cover their position so they have to buy it back to pay back their their loans or they risk you know buying it back at an even higher price and then kind of being out of pocket because of that so and you can imagine what happens then if everyone's trying to cover their short position they buy the stock and that just adds more fuel to the fire making the price go up even more so they're shooting themselves in the foot by doing that right so because the price went up so fast it it then went up even faster from the short covering

and then it just became like a snowball effect where the price went up a lot i'm not sure exactly how much it went up but a lot as these are these billionaire fund managers and these billionaires got kind of stopped out or short squeezed by uh by these retail traders now um because of this there's been a lot of kind of fight from the incumbents from these billionaires some of the i think um some of the the financial services providers or the exchanges for these stocks kind of like halted trading or said they were going to halt trading and these billionaires are going and complaining and saying you know this shouldn't happen this is manipulation but it's just rich because you know this is what a lot of them do anyway they manipulate the markets all the time right they they get in the ears of

politicians to kind of write legislation and different laws and regulations to benefit themselves and now that they've been caught with their pants down they're complaining you know that's rich right and so i put out this tweet today because obviously you know ethereum and d5 in truly decentralized protocols like uni swap you know hayden adams the founder of uni swap couldn't just say well you know i don't like that people are kind of shorting uni or doing stuff with uni i'm going to disable trading on uniswap he can't do that right there is no backdoor in uni swap no one can control it so i think you know people seeing this and people seeing that you know when when the going gets tough for the the incumbents the rich and powerful they're just going to complain and they have all the power to to to make things

um you know happen the way they want to happen and now that they kind of like feel a little bit powerless because these retail investors have kind of like fought back and said you know you guys are really brutalizing this stock you know screw you we're gonna we're gonna squeeze you basically we're gonna short squeeze you that's exactly what they did um so i think more people are gonna come into the ethereum and defy space because of this they're gonna realize that we're building these tools we're building an actual decentralized financial system that cannot be stopped right it cannot be stopped by a central party um that you know if if there is a centralized kind of key with these d5 protocols and then it's it's used then these d5 protocols will actually lose market share to ones that are that are decentralized like fully decentralized

so there's kind of like a a kind of gambit going on there as well um but just in general i mean i wrote about this in the delegate newsletter today d5 is just by nature completely open right permissionless to innovate uh you know no kyc um you know truly decentralized protocols like unisop have no um backdoors no central party to to kind of put a hit pause or anything like that and no one can control what you do with your own capital and this is just like very very freeing right like people want to be free humans want to be free we don't want to be controlled we especially don't want to be controlled by billionaires and rich people who think they're better than us and think that they should be able to do whatever they want but as soon as you know the going gets tough for them they

they kind of go crying to to mummy regulator and and complain and say you know you need to stop this you need to regulate this you need to you know you need to close down the exchanges and i just thought that was total for lack of a better term um just absolutely disgusting and and really i got so bullish on ethereum and d5 and i got so convinced that you know we are building these tools and we're building this stuff and it's going to have such a large impact we can't even imagine how much of an impact this is going to have on the world and with that's going to bring fight right the incumbents are going to fight us the regulators are going to fight but the amazing and beautiful thing is that they can fight as much as they want unless they can overtake the ethereum

network which is extremely hard to do even in you know proof of work it's going to be even harder in proof-of-stake um then they have no fight in them they can't do anything uh in some of these d5 protocols they may be able to maybe they try to like go for the governance processes of them and and kind of um you know uh do something with the governance where they they get control of the protocol and kind of mess around with that but it doesn't matter it'll just get forked to the protocol right and then they'll start it people will start again people will withdraw their funds if they notice this happening a lot of these contracts have time locks on them so that uh changes can't actually be enacted until you know 24 to 72 hours kind of later so there are so many things that we can

do to stop you know that from happening but the truly decentralized protocols like uni swap they can't do anything they can absolutely nothing to to that protocol um in its current state maybe in the future there's some governance that gets added but in its current state they can do absolutely nothing and they're going to try right they're going to try and regulate it they're going to try and regulate the centralized choke points like exchanges the fiat on ramps definitely still a big choke point getting into this ecosystem requires those fiat on-ramps you can't just come in with uh you know i mean you have to buy ether or a stable coin from a centralized exchange you can't just go directly from you know aud or usd or whatever to crypto without a centralized intermediary and

um there are some ways to do it with like local cryptos and things but even them they are kind of uh having to implement kyc or probably will soon because of just like the tight regulations here but once you're on ethereum once you're in d5 there then you you know you can resist right you can do all your own stuff you can be completely anonymous if you want um with with um your ethereum address and you can go bankless and it's just it's so bullish i just i mean we haven't even scratched the surface of how many people are going to be coming into this ecosystem and the more this stuff happens in the traditional world the more people are going to figure this out i even saw like you know the wall street bets account on twitter tweeting about bitcoin today and then dogecoin and

stuff like that so they're aware of it and you know it's funny because on the subreddit you can't actually talk about crypto at all it's banned and i think they banned it because everyone was just going on there and chilling their own coins which is sad because you know i think that subreddit as as kind of like crazy as it is there's a lot of smart people on there and there's a lot of our target audience on there the people that will benefit the most from this technology but they don't even hear about it because you're not allowed to post about it on there so yeah just a bit of a rant there i think i you know i'm pretty sure you all feel the same way as i do about this uh i'm here to basically get rid of all these centralized parties absolutely just eradicate them out of

out of existence um most of them are parasitic they're cancerous they do not deserve to belong in the world in my eyes they do not empower financial freedom they they actually make it worse for people and they never face any consequences you know i think there was only one person that went to jail in 2008 after the crash happened in in the global markets because of that and you know now because some retail investors short squeezed a um a bunch of billionaire hedge fund managers on one stock they want to basically regulate everything and someone has to be held accountable get get screwed honestly seriously like no that's just not going to happen um and we're gonna resist as much as we can uh so yeah end rant there but just thought i'd talk about it since i think it's extremely

relevant to everything that we're doing within ethereum and defy and i think i have something here from nick chong which is actually really great i love this so he says uh open quote on this tweet i know there's angst about ethereum transactions fees during times of congestion but robin hood was down for two hours td armatrade has placed restrictions on gme trades trading 212 had disrupted service regulators suggested a 30-day gme halt and defy is a way out of this end quote i mean this is what i was talking about a few days ago on the refuel how we're pioneers of this this technology right now if you're in this technology right now the cost of financial freedom as it currently stands is those high transaction fees

the cost of this centralization is those high transaction fees we're gonna fix it right we're gonna we're gonna improve it with layer two and all that sort of stuff but right now you get to access the most decentralized financial system that's ever existed right for maybe even at the worst of times maybe a hundred dollars to trade on uni swap right i know that sounds like a lot for smaller trades and things like that but you know that is the price to pay for an extremely decentralized financial system as it currently stands until we can get these layer 2 technologies out there and then it will be a lot cheaper we already have loopering you know i talk about them a lot where you can go on and get this you know similar security guarantees as the ethereum main net so yeah i think that's just the price to

pay right now but we're going to get better we're going to we're going to we're going to kind of like scale this out we're going to get much better with uh the fees you know for end users are going to come down because if we don't do that then obviously we lock out you know millions and billions of potential people that that need access to this system but we're gonna we're gonna figure it out so yeah i thought this was an amazing tweet from from nick here and you know i mean he works at parafly capital as well same as santiago who i you know i talked about his tweet the other day these these guys at parify they deeply understand uh what d fire is all about what ethereum is all about uh and they really do are out there on twitter putting this out into the into

the space which i really appreciate because it gives me something um to talk about on the refuel as well and kind of pull you in the right direction and nick's actually an amazing follower so i'll link this thread in the youtube description i highly suggest going and giving him a follow he's always tweeting interesting stuff out about ethereum and d5 finally i kind of like tweeted it robin hood uh today uh robin hood is uh basically a a trading app where there's basically a lot of stocks on there and it's very popular with uh kind of a newer traders to trade on robin hood um so they only have a handful of cryptocurrencies on there they don't have any d5 tokens and they have weird currencies they have btc and eth and they have like bsv they have dogecoin which i mean i love

dogecoin but it's a bit weird that they have that and they don't have any of these any of defy tokens and they've got a few others on there but it's just like a weird selection so i tweeted like you know let's get the d5 pulse index on there let's add some blue chips on there and then add link as well while you're at it because as i've said before i don't consider link to be defy but i still think it deserves to be to be on there and this would just give people exposure to kind of defy um from from buying these tokens i mean on robinhood you can't actually transfer stuff out like you wouldn't be able to transfer this crypto out to your own wallet but that's not the point of this the point is to give people exposure kind of quote-unquote red pill them into

defy right and then they can discover how to you know maybe buy it on coinbase so they can withdraw to their own wallet and things like that so you know hopefully robin hood sees this uh this tweet i don't know if they will maybe they maybe they won't but you know i'm sure there's some regulatory hurdles there as well for them but at the end of the day they have some absolute trash on there in their crypto offerings they just need to add better things like no one wants what they've got on there like no one wants bsv like let's just be honest right everyone wants d5 tokens and and you know i mean i don't see d5 tokens as being a fad i see them continuing to be in favor because d5 continues to be in favor and continues to grow so yeah hopefully they add these uh well

you know it's funny i don't even use robin hood because it's a us-based app i can't use it in australia but you know there's obviously a lot of u.s crypto investors so i want to see that on them on there for them their sake so ar from the ethereum foundation uh announced the i guess posted this announcement today on twitter that the ethereum foundation has actually uh formed an ongoing relationship or a partnership with reddit uh and this and what this is it's basically going to be focusing on uh scaling technologies and bringing reddit kind of into ethereum and helping them scale out and helping them build things on ethereum now if you remember reddit held a scaling bake off back a few months ago and this was based on their reddit community points

so their reddit community points was kind of a point system on earth here on one of the ethereum test nets that allowed people to kind of like trade these these things from the these kind of like uh community points from the cryptocurrency subreddit and the fortnight uh battle royale subnet the subreddit fortnite's a video game very popular video game and then they did a scaling bake-off which was basically a scaling competition where a bunch of different teams submitted their own kind of scaling solutions to scaling this community point system and now today the ethereum foundation has officially partnered with reddit to work on this which is just so incredibly bullish right i mean reddit could have gone with anyone for this but they chose ethereum and there's a reason they chose ethereum because it is the most

furthest along it is the it is the one that speaks to reddit's values even though reddit is a centralized company it still has roots in decentralization because a lot of the different subreddits are actually decentralized to a point where uh they aren't actually unilaterally controlled by just the reddit moderators they've got their own moderators that control the communities or like moderate the communities and you know a lot of reddit is actually kind of a hub and spoke model where i guess reddit the company sits in the middle and then around that there's all these spokes of different communities and things like that and you know they both do stuff on reddit and off reddit and stuff like that so i can't think of a better kind of partnership to happen here and obviously reddit is is massive right absolutely massive billions of page hits

hundreds of millions of users and they're all going to get exposed to to a lot of this stuff happening which i think is just incredibly bullish and incredibly cool so yeah really really exciting to see this announcement out of the ethereum foundation today and yeah i think this is just a perfect kind of relationship starting here so giorgios from paradigm put out this amazing article called almost everything you need to know about optimistic roll up now i've spoken about optimistic roll up and zk roll ups before lots of times right there the scaling technologies that the ethereum community is focusing on now what this post does is it's quite it's a little bit technical but it'll give you a full breakdown of how optimistic roll-ups works and they go through it from our first principles so it's

it's actually a really cool way how they explain it i'm not going to spoil it i'm not going to read it on on the refuel but i i if you read anything today or this week i highly highly recommend reading this piece even if you don't understand some of the technical bits it doesn't matter this is going to give you so much good knowledge and context around how optimistic roll-ups work that it's going to be worth it and it's not even a long read either it probably takes about 10 minutes so i highly recommend reading this and i i hope to see more of these pieces out there because a lot of this stuff is complex right a lot of this stuff is technically complex we hear these words we have no idea what they mean we need someone to explain it to us from first principles

we need someone to explain it to us like we're five years old right that's the the famous saying there so uh really really glad that georgios put this together i think it's uh it was it was the best explanation of optimistic roll-up that i've ever read and again highly recommend going to read it and i won't spoil any of it for you i don't want to i don't want i want you to read it yourself because it's that it's that good so alpha finance put out this really awesome uh tweet today and full disclosure here i own alpha tokens so uh just keep that in mind but basically there's a reason i own alpha tokens right and it's because they have grown so quickly um it's just been amazing to see so as you can see from this chart they kind of chart how much time did

each d5 protocol take to reach 600 million dollars in tvl now alpha homora which is one of alpha finance's products only took three months whereas curve rv synthetics um compound unisop and maker on the end took a lot longer now to be fair alpha only launched a few months ago and it launched into an already very built out ecosystem right so maker obviously launched in december 2017 and d5 was like nothing back then what the term d5 wasn't even a thing there was hardly any liquidity in the ecosystem right um you know so it's it's not an apples to kind of apples comparison here but it's still incredibly impressive that it only took three months for alfa hamura to grow to 600 million dollars in

in kind of total value locked here and you know for those who aren't familiar with alpha finance they build a bunch of different products they have alpha hemorrha which is like a leveraged yield farming product which to me i mean obviously had immediate product market fit here they've got uh v2 coming out soon they have a new amm product coming out they have uh kind of um i think perpetual products coming out there's a bunch of different things so yeah i just thought this was really impressive and i think as we keep going and as the fight keeps growing and new protocols come come you know come to life here there's going to be those that reach this milestone within weeks right and you know there are protocols that have reached it within a day but i'm i guess when you're talking about kind of like tvl here i i

you probably have to talk about sticky tvl not tbr that just comes and and goes within like a few days because there's a there's a lucrative farming opportunity you know for example a few weeks ago there was an algorithmic stable coin that launched called basis cash and that got a billion dollars in tbr within like a day but you know that was only there for a few days to farm the the tokens and then most of it kind of left right so if we're talking about tv i always like to talk about sticky tv like did it actually stick around for a few months at least right or was it just like kind of an in and out you know 20 minute adventure let's get some tokens sort of thing um so that's what i like to kind of compare as well so a few caveats there

and definitely still impressive growth from from alpha hemorrha here really excited to see their other products go live um so yeah i will keep an eye on this one for you guys so jason choi tweeted out that uh grayscale is launching a bunch of different uh new i guess trusts new products and i've spoken about grace grayscale's existing products on the uh kind of refill before their gbtc product and their e product these are basically tax advantage products for people kind of in most of the western countries to get exposure to btc or eth or any other kind of assets that they have and it seems like they're spinning up a bunch of other trusts right now and one of them

is the rv trust which is really bullish because i think this is the going to be the first defy token trust that they have which i think is really really cool here there's been rumors that they're going to have a link trust as well and you can see basic attention token on here as well so you know these things are basically magnets for for money and for for keeping things in kind of the system because how they work is that there's not really a kind of redeem functionality it's like they're like a black hole for these kind of tokens um or kind of like uh the these coins like btc or eth so it you know the reason people get excited is because they're like okay well this just means more buy pressure for the tokens that i hold price is going to go up yeah yeah

everyone's making money um but on the flip side uh there's also a premium to this so i've spoken about the premium before about how the uh grayscale products can actually get way ahead of their spot price so the price of it could be a thousand dollars but the price of eighth according to grayscale's ethy trust could be like 2 000 and that's because there's this um kind of massive kind of uh kind of thing where you can't actually redeem you can't actually sell it's just by pressure right and then anyone who wants to kind of um close that gap between the spot market and greyscale's market they have to wait there's like a six-month waiting period for ethan like a 12-month waiting period for btc

or gbtc sorry in e to kind of close that gap um but i've explained this before i won't go into it too too much now um but yeah that's basically what happens there and very exciting to see them supporting some defy tokens finally i think we're gonna see more of this more of these players that haven't supported d5 tokens in the past they're gonna do it it just makes sense right i don't think that you can you can get away with not supporting them anymore customers are demanding it you're losing so much trading fees if you're not kind of putting these in especially to d5 right a lot of these start just on defy within uni swap and things like that so yeah really cool to see this out of out of grayscale so lucas guzman put out this video today um and you won't be able to see this if

you're listening to the podcast but basically what it is is an ar video um of him sorry it's a video of him in ar in like a virtual showroom for his nft that he owns that he bought from people which i thought was really cool right you can see in the video here he's kind of walking through this ar space where he's got his nft displayed and you know it's it's just like i mean it it's cool into the ether in the background there that's really really cool um but the reason why i wanted to kind of bring this up is because people are always asking you know like okay you have your nfts and i know i talked about this recently in the refuel but like you have your nfts and people can see them on chain but like how are you going to display them right

where are you going to display them how people are going to see them and this is just one way you can display the nfts i've seen people do things where they have like a tv or like a monitor displaying them in their home and things like that which i think is really cool um and you know they always have the proof of purchase there and everything too so yeah i mean it's not just kind of that as well it's also virtual world so there's a lot of virtual worlds that are going to be spinning up i think over the next few years decentraland's an early example of this the crypto voxels as well i think there's a few others out there and in those virtual worlds you will only be able to display your nft if you bought it right you won't be able to display a copy of it

and people you know and if you do try and copy it people are going to call you out and you'll you'll basically be you know shunned for that sort of thing within the space so having the original kind of item or the original nft is going to be very very valuable and i think it's going to add even more value to nfts and kind of make the prices go up uh because of that so yeah just a little bit a little bit more nfts there i won't go too much more of nfts i know i spoke a lot about them on the last kind of refuels um but yeah just really cool to see to see this happening this kind of merger between ar and nfts here all right last thing to talk about today so i put out this tweet and i'll read the whole tweet out so

basically i said imagine selling eth when it's still under all-time high d5 growth is exploding l2 adoption is growing the eighth btc ratio is strong cme futures is coming stimulus checks are coming whales are accumulating as seen on chain and i explained that yesterday to you guys on the refuel uh eth2 is locking up eighth and the year of the ox is about to begin or the year of the zero x right this is the chinese new year and the ox is obviously a bull so you know the year of the bull bull market right i mean i'm not one for these kind of like superstitious things all these kind of like uh things like but at the same time a lot of people are and it kind of is a nice narrative to kind of latch on to so yeah and then at the end

of the tweet i said good luck with that now obviously this isn't financial advice i put this out there because um i kind of think that it's just insane right now to be i do think it's insane right now to be selling your eighth right if you're a trader then whatever but if you're an investor there's just so much stuff to look forward to that i just don't see a kind of a future over the next few months where it isn't higher where we're than where it is right now again not financial advice but obviously i'm extremely bullish on eighth so you can kind of i guess like deduce that from from what i what i talk about but basically uh oh let's run through each of these points briefly they're still under all-time high eth right now is what i mean i got it up

here 13 20. the all-time high was 1420 then it was 1440 then now it's 1470 right let's just say the 1400s is the all-time high level we need to clear that and get into the 1500s and then kind of be clear of that so we're still under that d5 growth is exploding i mean i didn't i don't even have to explain much here it's it's exploding it's exploding so much it's being used in d5 more than ever right there's there's billions of dollars in in d5 uh people are buying a um in anticipation of eip1559 that's actually going to burn eth from usage and where's all the usage coming from it's coming from d5 right bang l2 adoption growing they're going to get massive scalability more usage more fees burned right more uh

kind of ether used as collateral within layer 2 more scalable d5 i mean i i don't have to explain too much about that right the 8th btc ratio is incredibly strong i talked about the other day how clearing that 0.04 level on 8th btc was pivotal it was a two and a half year range right being under 0.04 we cleared it we closed above it incredibly bullish btc has actually been weak lately it's been very strong i think we're going to we're going to continue that momentum as we keep going over the next kind of weeks and months so that's just another reason the cme futures is launching on february it's what 10 days from now 11 days from now um that is incredibly bullish some people think it's bearish because the cme futures for btc launched um and

then btc crashed no what ended up happening was that the bull market was ending anyway because it was december 2017 right whereas the cma ether futures are launching uh while it is still under its previous all-time high and the bull market is just getting started so incredibly bullish there stimulus checks coming we saw what the last stimulus checks did in the u.s to the crypto markets right a lot of people are putting these checks straight into assets stocks crypto bonds whatever you want whatever you want to kind of put it into it's going in there i think a lot of it is definitely going to be going into uh stocks and crypto for sure so watch out for that whales accumulating i mean i showed this yesterday this chart that i had where i showed that uh the addresses holding ten thousand ether or more are going up rapidly

so i mean that's verifiably true that whales are accumulating eth2 locking up eighth i mean the last time i checked it was almost three million eighth locked in there that's what four billion dollars or something bam that's four billion dollars of eight that's locked in there until the merger happens most i mean most of it is there are some of it that can can be traded as like an iou right now but you know still it is what it is uh and i just explained before about the year of the ox which looks like the year of the zero zero x and obviously every ethereum address starts with xerox at the start which lends itself to all these kind of superstitions you can come up with and all these narratives you can sell uh so yeah and then there's actually some more that from the replies

i actually forgot about eip1559 in this tweet which is which is insane but i think it also speaks to the fact that just there's just so much bullish stuff happening you can't keep track of it all so yeah erp 1559 coming this year we're gonna start burning eth it's going to be deflationary with once we merge into proof of stake um well there's a real possibility it will be uh so that's incredibly bullish the d platforming and traditional finance centralization narrative is in full swing i mean i just talked about that at the start of this refuel uh basically that's going to play huge momentum into this crypto bull market i believe uh people are losing trust in institutions people looking for a way out bam we have ethereum and d5 giving them a way out and then the last thing here is a bloomberg galaxy ethe index

uh galaxy is a a fund run by uh novo uh mike novogratz he's known as novo uh and i think they've teamed up with bloomberg to launch an ethe index product uh which is just i guess more products for people to buy in you know buy into to get exposure to eat so yeah so much bullish stuff happening like ah i just i mean it's just it's so incredible this is why i'm still buying eight and yes i'm still buying eight i never stop buying it i buy it like all the time uh even if it's only a small amount i buy because uh it doesn't matter what price it is i believe it's going to be higher than what it is today um so yeah i'm still i'm definitely still buying here and i think a lot of new people are going to be buying as

they discover how amazing eve is wales and big money is going to keep accumulating because they've slept on it right think about kind of like the move that ethics has had and how many people still don't have exposure to it there is so many people that still don't have exposure to it all the institutions only started getting exposure to btc at like what i think michael saylor was the first one at like 10 000 or something like that right and then after that we saw a lot more come in as we approached 20 000 and then we went all the way up to 40 000. they're not early right they're gonna come in once we've crossed all-time highs and cleared it maybe they start buying either two thousand dollars or something like that i don't know my price target of ten thousand dollars is still

is still in play i i still believe in that that nothing's changed there if anything i'm more bullish than ever that we're going to get to ten thousand now that we're so close to clearing all-time high i think the next time we run up all-time high is going to get cleared and we're going to go into the 1500s and beyond you know we'll see i'm not a trader or anything i just am incredibly bullish as you can hear in my voice but anyway i will digress for now we've gone over a bit over 30 minutes there so yeah thank you everyone for watching and listening to to me ramble on and guess i guess about how bullish i am on ethereum and eth again if you haven't subscribed to the youtube channel be sure to do so give that video a thumbs up join the discord channel and

subscribe to the daily grade newsletter and i'll catch you all tomorrow thanks everyone