Pectra details, Real-time rollup metrics and more - The Daily Gwei Refuel #778 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the delway refu where up latest news and etherum ecosystem I'm your host and this isown the 7th of June 2024 all right everyone let's get into it so some big news today about the next ethereum uh Network upgrade code named Petra you guys know I've been covering Petra for quite a while now uh and it's been a bit of a moving Target I think there's been a lot of eips that have been suggested to be included within Petra which means that Petra is as it currently stands the biggest upgrade in ethereum's history now of course this opened up discussions over the last I think month or so around whether pectra should be one big fork or two smaller Forks it seems like the core devs are definitely leaning towards doing one big fork instead of two smaller forks and it

seems like the timing on that will definitely be in q1 2025 I would not expect this to be in Q4 if there are two smaller forks I could see you know one happening in Q4 one happening in q1 but if it is a Big Fork I would expect it to happen in q1 of 2025 there now the reason why I'm bringing this up today is because there was an all core devs call yesterday or or earlier today depending where you are in the world uh that essentially confirmed a bunch of erps that are definitely going into Petra whether it is a big fork or two smaller Forks so these eips include EIP 7702 which actually replaces EIP 374 which is the account abstraction EIP I've covered that before but it essentially fixes one of the critical flaws I think that people saw within 3074 around that

onetime signature thing that could lead to your entire account being drained so there's that AIP going in of course we have EIP 7251 which is Max EB going in uh which means you can stake more than 32 e per validator up to 248 eth I think that that might might be getting reduced to 1,24 eth because I saw someone mention that but I couldn't confirm that so it's either 2048 or 1024 either way it's an absolutely massive kind of Step Up from 32 e so whether it's 1,24 2048 I don't think makes too much of a difference because obviously going from 1024 to 2048 is only a two times increase whereas going from 32 to 1024 is a 32x increase or a 64x increase for 2048 but I will confirm that once I get

confirmation myself on what that's going to look like there and then along with Max EB will be the EIP for execution layer triggerable exits which allows you to exit a validator via the execution layer and not just the consensus layer which means that you can have trustless exits from things like uh staking pools which is obviously a huge unlock there and then we have EI P 7594 which is pias Apparently that is going to be going into Petra now which is absolutely massive I mean I remember I spoke about three of theps that I wanted to see in Petra two of them seem to have made them in made it into it so far which is pias and Max EB I think the third e that I wanted to see was inclusion lists but I think that is going to require uh much more research and development before

he's able to go into the network and and is's probably going to require PBS and be part of that road map there or part of that kind of roll out there so yeah doesn't doesn't look like we'll be getting inclusion lists as part of Petra but we will be getting pias which is a huge unlock for those of you who don't know what pias is it's basically the first implementation of data availability sampling on ethereum and the last time I looked at the spec it essentially means that only uh that all the nodes on the ethereum network uh I guess like each full node and not not um archive nodes or or light nodes or whatever else I think it's each full node um will store 1/ 18 of all blob data instead of the full blob data which essentially means from I guess like my

rough napkin math here it would be like an 8X increase of scalability of what we currently have with blobs and now this just applies to blobs this is not uh D for like everything on ethereum it's just for blobs because obviously we're scaling via the rollup Centric road map and blobs uh for rollups and yeah that's a 8X increase on what we have today now along with pias we may get a blob count and or size increase which means that even if that's increased by like a modest 2x it would be a 16x increase from where we are today coupled with pi Das and we're already not at the limit guys of of blobs which is really cool because that basically means that we'll give ourselves even more further front Runway here uh in order to keep scaling up in order to keep doing more research

on full data availability sampling and data availability sharting and all that um that that comes into that there uh and also make sure that we can put things like Max EV in and get the validators Consolidated take load off the network and then be able to essentially increase the size and count of blobs even further uh potentially um do more more stuff with pias essentially make it instead of one of eight it could be one of 16 uh there's so much we can do here guys these are these building blocks that I spoke about a little while ago when I said we're in the Golden Age of ethereum scalability and we really are it's only going to get more scalable from here uh and the pathway is extremely clear on how that happens there so I'm super excited to see that pias has also made it into Petra at

least that's the what it how it currently stands um the next EIP is will be the eof related eips these are eips that have been trying to get into the network for quite a while now they almost didn't make it into Petra but I think that there are a few core devs willing to die on the hill of getting eof into into Petra here one of the core devs I think he is almost 70 years old I think I saw a comment that he said on the on the C devs call that he would like to see eof included in the ethereum network before he uh before he dies basically and I'm like okay well now this guy's literally dying on the hill of getting eof included so it's great to see that included there um it is not a user facing thing per se it is

definitely a developer facing thing where it essentially gives new uh optimizations for developers to take advantage of from my understanding which will flow down to to users there uh then IP 2537 which is the BLS pre-compiled AIP is going in and 7549 which reduces consensus overhead uh which has got to do with the from memory the validator uh committee indexes there uh for memory you'll have to look it up I mean you can look up all these EIP numbers on Google and you get the the result there and then also history expiry is being considered for inclusion in Petra which is another huge thing that is on ethereum's road map there but as you can see Petra is definitely the biggest ethereum Network upgrade in history at this point in time there could be more stuff added to it maybe there's some

some stuff taken away from it but I still think it would be the biggest and that's why I think that there's probably no way we're going to see it in Q4 if it remains a big upgrade it'll be q1 which is fine I guess as I think I said like on maybe a week ago or something I said there doesn't seem to be like a rush to get this EIP and it's not like it was with blobs where like we want blobs now because you know rollups are suffering they need to be more scalable and then once we had blobs in we can see how quickly Roll-Ups have grown how quickly the L 2 ecosystem has just taken advantage of that at this point in time I don't consider any of these things to be like absolutely critical need them right now yes they are all awesome

upgrades especially Max EB and pias and even the account abstraction EIP here but in saying that like from my subjective point of view it I just don't consider any of them to be like we need to push now we need to push hard but on that note as well the core devs are still in that mode of let's just keep shipping we need to keep shipping we need to keep getting this out there let's not rest on our Laurels which is great and I'm glad to see that but I'm also glad that we're not in the position where we have to like have to rush things through or have to feel like we have to rush things through uh which is just overall net positive for the ethereum ecosystem so yeah you can go check out my tweet for all those EIP numbers in case you want to look them up

for yourself I'll link the tweet in the YouTube description below for you to do so all right so there was a headline today that came out that one of of the uh BTC ETF issuers Vanek which is also going to be having a spot e ETF go live shortly has apparently staked 32,400 eth which is pretty crazy because I remember when the Bloomberg guys or Eric buun specifically called eat small potatoes compared to BTC well it's not so small potatoes that's $125 million worth of eat that Vanek has has staked here and that's part of a separate kind of product to their spot eth e ETF and I really do think that as I've been

explaining over the last few days that small potatoes comet is not going to not going to age very well it already hasn't really aged well but I think it's going to age even worse once the eth ETFs alive and bringing in massive amounts of inflows which I'm sure they will because I actually think that by the time they go live in that early July period if I'm correct about that eth should be at alltime high it doesn't really make much sense to me that eth wouldn't be at all-time high considering the state of the market right now I don't know how closely you guys have been following this you've probably been very closely this what am I saying you guys are all are all glued to the to the charts for sure um but essentially uh BTC is about to hit a a fresh alltime high like as

I'm recording this right now I can like literally see it on my screen um BTC is about to hit 72k which is a fresh all-time high um and like I just don't see eth waiting much longer to go to alltime high from here it is pretty much like there I mean it just sneeze away you saw how quickly it went from like 3K to 4K alltime high is almost 5K eth can go from 3,800 to 5K in a couple of weeks easy peasy no worries there and I really do think that's going to happen all the things are in place the stars are aligned here and because because of that it means that I really do think there's going to be some kind of fomo leading into the eth ETFs going alive where essentially the eth price is going to be going nuts and everyone's going to like

oh crap I need to buy eth now I need to buy eth now like it's going nuts what the hell what the hell's going on I'm going to miss out and that's going to just further drive us up and then from there we're going to have the normal I guess like retail bull market where everything's just going up I really do think it's going to play out pretty similarly to other Cycles um but what I think is going to play out differently is the bare Market I really do think that Ethan BTC are going to be much stronger in the bare Market than they historically have been compared to other assets I'm not talking about compared to USD I'm comparing it to other crypto assets they've already been very strong compared to other crypto assets but I do think because they the only ones that

have the ETFs and the only ones that are going to have the ETFs for the next three years at least I mean I don't as I've explained before the other things to get atfs have to have Futures markets first none of them have Futures markets yet the same Futures markets so there's just no way that these things are getting ETFs anytime soon so I really do think that compared to all the other assets out there BTC and eth are going to stand even more kind of like alone uh and it's going to be interesting to see how they behave in the bare Market I'm not saying they're not going to go down like 60 70% they can still do that right like there's there there's no um one that could tell you that they're not going to do that and and with this with a straight face

especially if eth goes to like 20K in the next I don't know 6 to n months right uh and then people are like oh my God e at 20 there's no way it's going down 60% from here it's like guys we went from like 4K to 20K in you know 9 months whatever the timing ends up being and that's a huge amount of market cap that's like a trillion how much market cap would that be just doing the napkin math in my head it's five times from here so it would be like a couple of trillion dollars of market cap added in a short period of time uh as bullish as I am on eth if it goes up that quickly of course there's going to be a period where it goes down and there's a bare Market but too early to be talking about bare markets right

now but that is an a dynamic that I'm going to be watching uh there but yeah I really don't think that eth is going to be small potatoes guys I I think that uh it's going to surprise to the upside for sure and I've been saying this for a very long time I just think that it's it's just taken so long to get there but we're going to see over the next few weeks those S1 forms continue to be filed continue to have back and forth uh between the SEC and the issue is there for an eventual launch date in what I am suspecting is going to be early July I actually came up with a date today so I think it's going to be this date is is not based on anything except like speculation like it's not like the May 23rd date where we had a deadline that

you could point to and it was known this is a pure speculation date I would not be surprised to see it go live on July 8th and the reason why I picked July 8th just to give you my line of reasoning here is because I have that July 1st to July 10th window that I've already given but then you think about what um what is happening during that period July 4th it's the US holiday it's a Us holiday right it's a it's a holiday so it can't launch on July 4th which is a Thursday July 5th is a Friday during that week uh is probably too early still like July 1st 2nd and 3rd and also because it's a shortened week a shortened work week I don't know if they would want to launch it then and then your next possible launch date from there would be July 8th

which is the Monday following that that weekend holiday there uh so I that's where I got July 8th from so as I said it's pure speculation but hey if they can make it happen earlier than that by all means but July 8th is is a nice date in my mind uh and it's a it's pretty much exactly a month almost exactly a month from today as well there but okay keep you guys updated on all of that as time goes on all right moving on to some me boost analysis from Tony today so he's put out an eth research post with a tldr of uh me sorry titled is it worth using me boost and the tldr is that meev boost increases your apy as a as a need Staker from 2.93% to 3.24% so I guess like tldd it is worth

using uh meev boost uh because you're getting an extra 3% uh of of yield out of it um but it is not like a huge difference here essentially you know some people have thrown around numbers like if you're not using MAV boost you're missing out on like multiple percentages worth of yield maybe when the yield was higher because of the um the gas SP being higher but generally it was assumed that you were missing out on a lot now of course 3% is still like 10% of the overall yield here around 10% so I guess like it depends what you consider a lot I mean for me 3% is is you know is a pretty big deal deal I guess generally uh because it is you know 10% of the yield it's basically like if you're not running meev boost you're essentially giving up 10% of the

money that you otherwise would have had and it's essentially if you're if you're a solo Staker doing this you're basically putting yourselves on the same foot as a um you know as someone who Stakes with like a service provider that's charging 10% you're essentially incorporating that service provider fee uh For No Good Reason here and me boost obviously has its issues uh with censorship specifically but you can run me boost on non- sensoring Rel layers uh to to kind of mitigate some of that but at the same time at the Builder level it's not really something you can do because at the Builder level the censorship uh is is is very different because the builders send their things to the relays and then uh so on and so forth from there but yeah I highly recommend giving this post a read it's very very short um but essentially it

answers that question of like you know is it worth using me boost and what is that what does that actually look like quantifi quantifiably so all right so there is a new tool out today to track the activity on rollups so this is called roll up. WTF this was I think built by the conduit team here ailano from the conduit team shared this on Twitter today and essentially what this does is it shows you uh not probably not all of the rollups there are probably some that or all of the l2s there are probably some that aren't being tracked here but it gives you a list of as many of them as possible and shows you in real time what their TPS looks like what their current um megag per second looks like uh and their throughput has measured in kilobytes per second here so

as you can see right now and this is going to look different depending on when you look at it this is a real time view it is not uh you know looking back 24 hours or anything like that it is a real time view so at time of recording me looking at this right now bass is currently doing around 40 TPS which is uh more than double the next two uh which is proof of play which is doing 15 TPS and arbitrum 1 which is doing around 12 TPS now as I've described before TPS is not the best measure of activity especially when comparing across chains generally uh it's probably better for something like uh you know measuring gas usage and as you can see here at 40 TPS Bas is only using 7.2 Mega gas per second whereas proof of play at 15 TPS

is using 15 megas per second so there are differences here for a variety of different reasons uh that go into that into that but the reason why I love this is because it gives us a realtime view which is different to the Views that we have from grow the pi and L2 bead which gives us a you know backwards looking view uh whereas real time view is good for like specific data measurements or essentially looking at this and being like okay well his base really hot right now his opun one really hot right now okay what does the rankings look like over time as well because you can take a screenshot of this and I'm sure there's going to probably be some of some charts buil into this but essentially if you were to take a screenshot of this today save it and then come back in 3 months

and and then look at what it looks like then you would get a better a nice idea of uh kind of the growth of different rollups and if you know which ones stay dominant which ones fell off and so on and so forth so just a really really uh cool tool here that you can go check out I'll link it in the YouTube description below but I mean I don't think it's any surprise about I guess like what this looks like right now because for example bass is definitely the number one L2 uh right now I think arbitrum 1 is pretty much neck and neck with them in terms of overall activity not just TPS proof of play is is a funny one because I hadn't really been tracking proof of play before but essentially it is an arbitrum um any trust chain so it is not a rollup

it is an L2 it's not using a ethereum L1 for data availability so I would like a way to filter those out actually um rollups versus like l2s AKA things that are using ethereum for data availability ethereum L1 for data availability and things that are not um because they're not equal to each other as I've described before proof of play is basically a gaming uh chain as part of the arbitrum ecosystem there uh then obviously you have a bunch of the other Roll-Ups or I mean optimism are all up lanaa Scroll Zora mode so on and so forth but yeah I would like a way to kind of filter with rollups and and you know l2s and and separating the two there and filter by da basically uh there all right so speaking of l2s Tao

is now permissionless and based so starting today anyone in the world can set up a tao proposer and Prov to help run the network using the newly launched Tao token so I think this is one of the first uh rollups to do this uh it definitely is the first base rollup to do this where essenti anyone in the world can download the proposer improve a software and help run the network this is the end game for all rollups or at least it should be the end game for all rollups we should not be settling for less than this on the um on the permission list and decentralization side here especially when it comes to things like uh uh like base Roll-Ups as well I mean being a base rollup is cool but what's even cooler than that is anyone being able to run a proposa and a

Prova in order to push that that through the network there uh so c big kudos to Tao for for being a Pioneer on this front here I think they're going to work as a forcing function for the other rollups to do this because I think we need to keep the pressure on I know that arbitrum 1 has committed to reaching stage two this year optimism is probably going to be slower than them maybe it happens next year for them and by optimism I mean like the op stuck uh and and definitely Bas fall into that Bas is definitely committed uh to getting to stage two as fast as possible but until they do it's all talk like as much as I love these teams guys uh it's all talk until they do it so let's keep the pressure on let's make sure that they're doing uh doing what they need to do to

reach stage two so that we can have a more decentralized and permissionless layer to ecosystem uh but yeah as I said kudos to Tao for pioneering this here now there's a related tweet to this from Justin Drake today where he basically talked about how uh you know Tao is live and the end game is based now what he means by this is that based is essentially a catch all term for two different things base rollups and pre-confirmation uh I guess like projects generally whether they be Gateway startups or R&D uh generally now based is basically using the Bas layer to process the transactions of the rollup essentially that's what a based rollup is in its very I guess like Noob friendly

explainer form there are more there's more to it than that but that's essentially what it is and then you have pre- confirmations which from my understanding and I'm still learning about pre-com because it is definitely uh relatively new and it's definitely going to be a field that that explodes but with pre- confirmations essentially what you get is uh uh very quick confirmation times at the L2 uh it's I think as quick as 100 milliseconds so faster than any L1 blockchain out there that I know of and faster than any current L2 out there where essentially it will pre-confirmation and based on cryptoeconomic guarantees you'll have the guarantees around that that your confirmation will not be sorry that your transaction will not be reverted or nothing funky going on it's not going to be rolled back it's not going to have

reorgs or anything like that and then when that's posted down to e L1 uh as as part of the proof that gets posted down along with the data then it becomes like I guess like confirmed and finalized and all that but the the reason why you want pre-confirmation is so that you can improve the user experience so that everything happens extremely quickly so that essentially you get very quick and guaranteed inclusion uh and by very quick I mean like 100 milliseconds could you imagine being on a rollup or being on a a layer two and uh during periods of even like really high activity you are able to to get your transaction included very very cheap in a very very quick fashion so 100 millisecond transaction inclusion time with the promps uh doing it via VIA a bass rollup as well would be like the Holy Grail

here doing it on the cheap and getting it included without transactions being dropped that is the Holy Grail and that's what we're working towards and that's what the based ecosystem is here so if there's something that you uh have been looking for to dive deeper into and that you want to learn more about I would highly recommend learning more about bass Roll-Ups and learning more about preon generally Justin Drake has a bunch of resources I think he shared before and he's definitely the I guess like one of the top experts in this field right now in terms of researching it and being on top of everything he has uh put together this graphic here which basically has a bunch of projects that you can go look up specifically in the precom stuff I don't think I've ever mentioned some of these projects uh for example I don't think I've mentioned uh

Spire Prime V Mana uh Luben uh or bolt before in the pre-com startups I think I've only mentioned espresso I actually just learned about Spire a day ago what they're building is really cool um but I haven't mentioned the other ones yet espresso obviously I've mentioned before they're doing shared sequen of stuff which falls into the pre-com stuff as well like it's all blending together and all of these things are trying to do uh I guess like um similar things here but any of of those just Google them and then go to their website and go to their research and read it and you're your mind's going to be blown guys like this is deep level stuff that's going to have a huge impact on the user experience at layer 2's so definitely go check that out if you haven't uh yet all right last up here I just wanted

to give a shout out to this thread from Diana where she basically explained what the argay layer is and what the AGG layer is not now you'll notice that she hasn't called it the polygon AG layer and this is critically important because as you guys will know polygon is building the AR layer of course but they are not building the ARG layer for polygon they are building the ARG layer for everyone they want the ARG layer to be a public good essentially and what that means is that they want the AR layer to be just incredibly neutral infrastructure that sits on ethereum that any L2 can tap into to use but also any L1 can use as well so they're not just supporting l2s they're supporting l1's they're basically supporting any type of chain you can think of uh whatever name you want to call call it

L2 L1 L3 side chain whatever uh they're supporting that in the AG layer and trying to do it in a way that is uh credibly neutral where it's got nothing to do with polygon it's just something that they're trying to build for the ecosystem in order to fix the problem of fragmentation of of liquidity in the ecosystem right now which is really really cool so this thread from Diana obviously uh as I said goes into this I highly recommend giving it a read I'll link it in the YouTube description below uh and it's probably something that you can share with anyone who's ask asking you about the AG layer as well because there is confusion about what it is and what it isn't and I think what it isn't is basically described here by Diana it's not a new L2 or an L3 a shared

sequencer a proof aggregation service it's simple infrastructure for async plus synchronous cross-chain interoperability and a shared Bridge so essentially incredibly neutral infrastructure that anyone uh can tap into there which is yeah extremely cool I mean I think that anything that is being built as credibly neutral infrastructure or anything that's being built as a public good on top of ethereum is should be encouraged encouraged especially if it's coming from like big projects or big existing projects that have commercial interests for example polygon is not a organization like the uh like the ethereum foundation which uh you know polygon has commercial interests yeah they want their technology adopted over someone else's technology whereas ethereum as a protocol is developed as a

common public good yes they care about ethereum getting adoption instead of some other L1 getting adoption but there is no commercialization bolted onto that the etherum foundation is not commercializing that in any way right whereas polygon has certain parts of their stack that they commercializing here but they are also building uh things like the AG layer that anyone can use that anyone can can take advantage of uh that is credibly neutral here so huge kudos to them and UPS to them on on that one uh there uh now just to finish off to to's episode wanted to talk about one last thing uh which was with regards to I guess like um the market stuff that I I was talking about a little bit earlier with regards to Bull and Bear kind of markets here I remember I did say that I felt like we were halfway

through the bull market I think probably like 2 to 3 months ago I think I maybe was a little bit early on that call uh because what ended up happening was that the BTC price stagnated for the last couple of months or maybe like two to 3 months it went sideways I didn't expect that to happen I thought it would uh only go sideways for a few weeks and then continue up from there so I think I was maybe 3 months too early on my call there I think around now over the next few weeks is probably going to be the Half Point here but I want to caveat that by saying that you guys know my view on the fouryear cycle I don't think the fouryear cycle is a thing anymore and you guys also know my view from before in other episodes that I've done

around how I think that the ETFs are going to act as a I guess like life boat or or a way to kind of buy the price of BTC and eth uh going forward which will also make sure the fouryear Cycles don't play out as they historically have have now when it comes to all the other assets I really do think they're going to still play out the same way specifically because of the fact that they don't have ETS but not just because of that there are a lot of different dynamics that play with the other assets when it comes to BTC and eth they've pretty much established right they are the two blue chips of all of crypto no one is doubting their value even the people who are hating on eth on crypto Twitter like they they change to being bullish as soon as eth goes up like

there's no real kind of like people who are doubting that eth BTC are going to go up over time there are people who argue over um what the ratio is going to look like between BTC and eth and is e going to outperform over the long term or is BTC but in terms of their performance against Fiat generally or US dollars I don't think anyone is doubting that they're going to go up over the long term here the same cannot be said for every other asset out there because every other asset out there is not a blue chip most if not all if not like 99% of the assets out there are garbage so if you're stuck with like the the last 1% that could be considered quality assets okay if they considered quality assets why are they considered that what what project are they tied to what does

the project success look like right now what does the metrics look like what does the value acrel look like uh are they going to have a Moote for years to come you know have people already kind of ridden this up so high that its current value doesn't even make sense and then that means that it's still kind of mispriced there there is so many different things that go into this so that's why we see these crazy speculative Manas on specifically these other coins and then when the bare Market hits when that demand is no more and when it's basically it basically changes to everyone wanting to get out that's why you see these things go down 95 plus per is because there was no real lasting demand there no one is buying these things as a store of value no one is buying them as a blue chip they are

buying them for purely speculative reasons they are buying them especially the ones that are in the no are buying them because they know that a huge influx of new capital is going to come in but they also know that it's some point that's going to run out so they're going to start selling uh they're going to start selling before the top of course I mean I have uh friends that have been in crypto longer than me that do this every cycle guys it is the same pattern and they've done it very successfully you essentially buy when things are quiet you wait until the bull market you don't sell the top because you're never going to pick the top but when you start to feel like things are getting really really crazy you start selling into that now who are you selling into well you're selling into

new money essentially and that new money is the weakest hands possible because it's just new retail money that has does doesn't understand anything about crypto and they're only into it because they're fing in because they're seeing everything go up and that's why these things will just get slaughtered and then when they've been slaughtered most of them never come back because of the fact that they are part of projects that weren't even good to begin with OR didn't have any traction to begin with they never should have gone to that price to begin with if these things weren't publicly traded these early stage project tokens weren't publicly traded and let's say you were building a project over a 5year span you raise some money in years one and two you're building out and then you run out of money and your company hasn't succeeded by year five you probably shut down you

don't go public right or I mean there's some been some of that with the spack stuff recently where essentially you merge two shitty companies together and create a create a a meme about it just some some that goes there but the US usual process or the traditional process has basically been you shut down whereas in crypto if you have a token there's there's not really a graceful way to shut down because you have all of these holders that are holding something that the SEC considers to be an unregistered security there's all these people that are pissed off at you that are annoyed that everything's down already and then you tell them you know after things have gone down 90% And your company's basically bust you say oh guys we're we're shutting down like that you know this doesn't work it's just it's not something that any anyone wants to

do so that's why in crypto it's very different to what it's like traditionally when you start a business is that you know most of the time you're not iping in year one essentially you're not going public in year one you're not taking on public money in year one you're waiting until you have you know some good traction before even consider considering that that's the usual process whereas in crypto it's flipped on its head where before You' even got product Market fit before you've even got a product out there some a lot of the time you have a token out there and people are speculating on not what you are today right you're nothing today there 100% of the money going in is completely speculating on what you are going to be in the future or what you're promising what your marketing is saying so all of this is to say be careful guys

I do think now we're at the halfway point I do think things are going to get crazier from here as BTC enters price Discovery again and as eth follows shortly after I do think that with uh the macro environment seemingly getting better as well with you know the Canada and the ECB cutting rates today us probably cutting rates soon uh yeah I do think generally things are going to heat up from here uh especially towards the end of the year so just be careful remember the bull market tips that I've been telling you guys about for years now and that I've got on Twitter you can search uh my Twitter username and go to bull market tips you can see them all there just keep your head on straight don't get swept up swept up into the madness you've waited this long you've grinded this long during the B Market

Now's the Time to not it up guys like as I said last time just don't it up don't blow yourself up and you'll do well uh there and I'll let you guys know when I feel like things are getting way too heated on stuff it's probably not going to be for a little while from here but I'll let you guys know don't take that as a sell signal don't use me as investment advice just use me as one of the data points in all of the data points that you look at to see when's a good time to start scaling out of the market but anyway that's going to be it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to new L join the Discord channnel and I'll

catch you all next week thanks everyone