Weekly rollup: Bitcoin highs, the ETH ETF and Robinhood with Arbitrum

Transcript

there's only one question on everyone's mind this week will Bitcoin keep going up this pack was past week Bitcoin briefly touched all-time highs above 69,000 and then immediately dropped over 10% to below 62,000 now in today's episode we're going to tell you the five reasons we believe that Bitcoin has a lot further to go from here gmgm welcome to web3 Academy your one trusted source to capitalize on the next big phase of the internet we are here to make sense of an onchain World in constant transformation I'm jbird along with my co-host Kyle rehead and we believe that retail is coming and it's going to change your world Jay thinks bitcoin's

going up I'll tell you something that's going to go up even more that's what we're going to talk about after we talk about Bitcoin we'll tell you what's going to outperform bitcoin we're going to talk about mcoin season which probably will also perform Bitcoin which is not something I love but hey it's great it's all fun we got to cover because it is just hopping off Robin Hood and revolute are coming for your crypto you choose if you want to give it to them or not but at least they're building and they're making some cool stuff so we'll talk about that but the coolest company of them all in crypto well that's coinbase it's an absolute Beast we of course have more we're going to talk about on coinbase launching some things and just what's going on with its app it is airdrop mania this week I know

we've said we like it's been a airdrop Mania for a while but this week some of the biggest aird drops are happening a bunch that we have covered in guides so we're going to get you up to speed on what's happening there and what you can continue to get uh and then we'll get into some agree disagrees but there's just so much going on this week it's a big week especially market so the market watch is probably going to be a bigger part of our of our episode today I'm thinking and always if you haven't already done so please hook us up with a like or follow or maybe a review on whatever platform you're listening on it makes a big difference for us in the show as we try to get more people on chain and help us all win everybody's a winner here at web3 Academy so make sure

you do that and also subscribe to our newsletter link is in the show note and today's poll question we want to know if you have ever bought or sold crypto on PayPal revolute Robin Hood or another fintech app so wherever you're listening give us a comment and let us know if you're buying or selling on fintech apps we're curious to know who's in that space I my answer is no yeah Al you know what actually you and I both have they're just less known fintech apps like you got to consider I guess maybe Shake pay and what we use in C no that's a crypto exchange that's a crypto exchange yeah you're right you're right yeah no we never have anyway did you

want to transition me into the market watch or what do you want to do there Jay I think you just transitioned quite nicely Kyle what's going on in the markets this week well we'll start with Bitcoin because it made its all-time high which is actually hilarious it just pumped all the way to to it and then immediately just shot down like you said 10% it was hilarious to watch and just exact crypto fashion it was perfect but we did just touch like a couple bucks above the previous all-time highs so we could celebrate this week we are now below it bitcoin's currently sitting at$ 67,2 37 which is incredible and really really cool it's up 1.6% today and up 7.46% on the week despite having some

crazy volatility but either way exciting things going in the Bitcoin world and we're going to talk more about that later on in the show if we move on to ethereum though ethereum has been a bit of a beast since Bitcoin hit its alltime high it just skyrocketed and ethereum began to outperform outperform the moment that happened ethereum is up 133% on the week 15% today but currently sitting at $ 3825 which is pretty amazing I mean I feel like ethereum was at like 2200 a couple weeks ago or a couple days ago even I'm not sure but yeah it's been a bit of a beast what are you look what about salana Kai see diving in I'm like what's he see that I don't see salana just was lagging

for a bit and then um just absolutely ripped basically yesterday slash bit today actually I guess it's mainly today look it's up 12.3% in the last 24 hours up 23.6% in the last week salana is currently sitting at $147 and it is clear skies ahead I put out a tweet this morning this thing's going to 175 faster than you can say I don't remember what the meme coin was but like Sheba Obama Harry Potter Pac-Man that thing see he can't say it which is why I think so's gonna get there faster than anyone else can say it but yeah salana has been on an absolute tear which everyone thought it

was going to lag but it said nope I'm gonna join this party as well and then we'll finish off with the crypto total market cap which is at 2. 46 trillion dollars uh up 10% on the week 1.42% uh on the day I believe actually this week it did go past two and a half trillion so we are growing up as an industry and becoming a big boy in the Global Financial World which is pretty exciting let's go let's go everybody holy gez hold on to your pants hold on to your shirts things are flying off the top but the question that everybody wants to know is always where do we go from here yeah it's great to celebrate the past but what is coming up Kai what

are you seeing that's giving you conviction for why we are still in such a good place and why we still have higher to go yeah so I mean I feel like a broken record at this point how many weeks in a row we've talked about the flows of Bitcoin ETFs it's just they're so powerful and they just keep growing week after week it's absolutely crazy and it's there's no doubt this is the reason why Bitcoin is doing what it is so we'll talk about a bit of this flow stuff in the Dem demand around Bitcoin but then we're also going to talk about how we're still not like sort of overbought burnt out just yet we're getting close there are some things this 10% correction we had was very much needed but plenty of room to go and then I want to talk about some historical

things looking at historically what's happened when Bitcoin has reached its all-time high I'll tell you right now the answer is extremely bullish but I'm going to show you exact numbers so to get things started I just want to show a nice chart here of the total Bitcoin in ETFs currently which has been up and up and up obviously since the ETFs launch but they're currently creeping up to 800,000 Bitcoins 800,000 we're getting close to 1 million Bitcoins remember folks there's only 21 million of these things currently 800,000 is in all the Bitcoin ETFs currently um that number is just absolutely nuts and then you know the growth that we've had so far since the ETFs launched is only picking up we are literally starting to just reach

massive numbers when so seven weeks ago when the ETFs all launched obviously we had gbdc that already existed that had about 30 billion Assets in it we're currently sitting at 50 billion about 8 billion of that is from actual Capital like flowing into the ETFs and then the rest is from just the growth of Bitcoin because we've obviously like I don't know probably close to doubled since those ETFs were live I don't know bit doubled but we've done really really well so that's really what's going on there and then if we look just on the sixth I guess it was the fifth so this is the day after we hit the all-time highs ibit which took it a record smashing 788 million in one day so absolutely just massive it was the record for ETF so far and that was on

the day that we went down 10 per. and then we're talking float so like we still had almost a billion dollars come into this one ETF on the day that we actually had a 10% decrease so kind of what it's showing at least what Eric baluna says here up in the Tweet is like look people think that the ETF investors are just like retail they're going to be not hodling not holding much but it showed you know they're still buying even though the asset itself went down 10% one of the rumors of why it went down 10% is a holder that has been holding Bitcoin for I think it was 12 years decided to dump like thousands of Bitcoin the moment it reached all-time highs it was pretty ridiculous they haven't sold in 12 years and they chose the day that we hit alltime highs to do

it so was pretty wild I wish I had that that chart up but I don't have it here but it's pretty interesting but look who's buying these ETFs man everyone like there is a bunch of retail sure but like Black Rock is now um buying its own Bitcoin ETFs in some of its other funds so we've talked a little bit about that Banks themselves are starting to so the Bank of America Wells Fargo are offering the spot Bitcoin ETFs as well to their clients and outside ETFs of course there's more companies and people that are buying Bitcoin guess who our boy Michael sailor has raised or borrowed $700 million and what's Wild is the interest rates I don't know how this guy does it but it's 6.25% interest rates for you and me and

everyone else in the world is like 5.2% and uh this guy with a multi-billion dollar company gets it for 6% so he's borrowed 700 million do you know he's gonna do that $700 million Jay buy Bitcoin oh yeah he's gonna buy a lot more Bitcoin so like you have almost a million Bitcoin in these ETFs and then you have sailor buying hundreds of millions of dollars every single month as well the demand on bitcoin right now is nuts and there's probably other like countries and Sovereign wealth funds that are buying as well that haven't announced it yet I also saw a rumor this morning that Tesla has recently bought more we're not sure if it's they've bought more or if it's because they're now accepting Bitcoin to buy Teslas but the wallets that we believe is Teslas

has um started to increase in the number of Bitcoin it's holding so we'll see what happens on their earnings call so it's clear there is a lot of demand for Bitcoin now here's the thing things were getting a little bit toppy over the last week right we started to get retail coming back at least I'll show you a chart that looks like this it was is getting bit out of control mcoin season's going off which we'll talk about and obviously Bitcoin just ripped like 50% in a matter of like a month so like is this sustainable and the answer is I mean probably not in terms of like that grow like rate of growth if we look at the fear and greed index which is a very popular indicator that just looks at how bullish or how bearish people are on a particular asset this one is

specific to crypto and we're currently sitting at 82 which is basically extreme greed we're more into to the green side of things right now we haven't been at that for a little while but the last time that we hit this sort of extreme extreme greed was right here which I have a chart up on which is the Bitcoin price color coded by the fear and greed index so looking at the price of Bitcoin uh and applying when this thing went green which is the scenario that we're in right now we sustained this for over I believe it was like 90 days in the last cycle back in 2021 well end of 2020 and early 2021 basically around the time that we surpassed past all-time highs as well and we went from 20K up to 60k during that time so and again 20K was

the previous alltime high I'll talk about that more in just a second so we are definitely like pretty toppy in term of the fear and greed index but as we've seen before we can sustain this for a while I feel like this doesn't happen in other markets but in crypto we can just stay super bullish for a pretty long time so we'll see how that goes I put out a a poll yesterday and I asked as like be honest crypto Twitter how many times the last 30 days have you recalculated your net worth so not just opening up coin Gecko and looking at what the prices are doing literally gone and recalculated your entire net worth and I put once or twice daily multiple times a day or no I don't look at it and 48% of people are currently recalculating their net worth daily and

29% which came second is multiple times in a day what industry can you recalculate your net worth multiple times a day and it actually makes a difference only in crypto but again this is what happens in Bull markets so these are somewhat top signals we've talked a little bit mainly in our Pro reports about retail coming back in and some of the ways you can look at you know when they're coming back in and by how much one nice one is just coinbase how many people actually downloading the app and so where does it rank in the App Store and so we were sitting pretty low for a while here when we get into full bulmania coinbase goes to the top of of the App Store and over the last week this chart has gone parabolic and coinbase currently well at

least this was two days ago was 49 in the App Store basically going up from about like 400 so it has just gone Absolut parabolic I think it's come back a bit now I saw a tweet this morning around like 70 or 75 but either way that is a signal that okay people are coming back and starting to activate their coinbase account so anyway it's not too bad yet we're not at number one when we get to number one that's when you got to be a little bit scared so one more thing just on where we are leading up to that all-time high that we hit earlier this week you can see on this chart here of funding rates this is people taking out leverage and just the day before we hit that all-time high it was fullon orange the whole way which basically means

everyone was leveraged long and so of course what happens when you reach that point we completely blew everyone out and it didn't matter if you were long or short on the day that we had that all-time highs you got rocked no matter what if you had any leverage you were getting liquidated and it basically cleared the entire thing so every exchange all across the board cleared their their leverage and that set us up to what do we do next well two days after everyone starts going long again that's just what the industry does but we're not nowhere near those numbers that we were as we hit alltime highs so what I want to say here from all this is yes we're looking a bit toppy we're looking a bit too bullish but there's still a lot of room to go plus there's all this Demand on the other side and

then Jay here's the most bullish thing that I've seen which is here's the time it took Bitcoin to double after it reached previous all-time highs after it broke previous all-time highs in the previous Cycles so December 2020 so this is the last time we hit the previous all-time high which was about 20K 18 days and we had hit 40K March 2017 I think the all-time high was like 1,400 or something around that after we surpassed that 84 days so less than three months and we doubled November 2013 10 days and we doubled and then March 2013 18 days so the numbers are pretty significant and will that happen again I mean who knows but it's happened

many many times before it happens every time we reach alltime highs in a new cycle so in the next 90 days or less we probably double I don't know I mean that pretty sweet but I mean now I think about like okay what does that mean to double at these numbers and like we're at 69,000 we've got to go like above 130 I don't that's just 130k like that's wild it seems crazy right it seems crazy but it seems crazy last time too every time this happened last time it also seemed crazy so you gota point fundamentals go out the window in a lot of ways and not to mention the Bitcoin having is coming we haven't even

mentioned that yet didn't me that's we're what are we now one month away basically one month away from that happening bitcoin's a 1.3 or 4ish trillion dollar asset so we would have to break another $1.4 trillion to that market cap to double it in 90 days we'll see I mean I'm I'm obviously hoping it happens but I don't know that seems a bit wild how we brought in since the ETFs we've brought in about I think about 350 billion I think it's like 330 billion since the ETFs launched like roughly yeah so more than that because we were under a trillion I think before those launched pretty sure or at least we were close to it so yeah so maybe 400 billion 500 somewhere in that range so can we double that in the next 30 days

probably and interest rates are still high let's bring interest rates down and see what happens to that market cap right so there's there's still tons of room of bullishness so I think we're just still nowhere near the top look will a p pullback happen potentially I actually put a I have a pro report coming out next week all about pullbacks so make sure you check that out who knows on pullbacks at this point there's too much demand at the moment I'll tell you what could double and I could see it doubling and I would have no issue with it I obviously I would have no issue with it but we think Bitcoin does really well after it reaches alltime highs so we said it doubles within like I don't know under 30 days max under 90 days if we look at every other cycle previously

well I'll tell you what does even more than that right after Bitcoin hits all-time highs that's eth eth this is the moment when eth significantly outperforms Bitcoin so look at these numbers if we look at the last cycle so 2020 2021 few days after Bitcoin hit its alltime high that's when it marked the bottom and E significantly outperform formed so after that all-time high Bitcoin did a 3X from 20K in just a few months we just talked about that with that fear and greed index is about 90 days okay in that same time frame ethereum did an 8X an 8X in 90 days like these numbers are nuts that's what it did last cycle if could you imagine if eth eight X's right now look it I it's not going to

happen that would be insane at the time e was 550 bucks right so it went from 550 to whatever that 8x I don't even know I don't have the chart up here I have an eth Bitcoin ratio but if we look at this chart that I have up on the screen I mean it looks like eth completely dominated Bitcoin because it did but this what would you look at this you would think okay Bitcoin went down ethereum went up but no Bitcoin tripled but eth 8X it's just it's nuts and I mean we saw the moment we hit alltime high on bitcoin I tweeted this out and boom eth just skyrocketed right away and it looked like it put in that low again on the eth BTC the the local low we'll see what happens again the Dynamics are a bit different with ETFs but we have

that eth I mean here's a couple things we've got the eth ETF coming in two months and then we've got the EIP 444 happening literally next week by the time we come on this podcast next week that thing's going to be live l2s are going to be pennies if not cheaper so I don't know man it's a good time to be in crypto that's my like summary of everything I just talked about yeah I what I take away from this is like okay so Bitcoin continues to rise it seems Saye to say that it's going to double over the next 90 days but totally possible definitely definitely rening eth is good at outperform Bitcoin I think that also is fairly likely maybe eth does like two to 3x over the next like again when I say these numbers out

loud it just seems absolutely insane but we're in an insane world but then let you go down further like what does that mean for soul then right like is soul the one that has the potential if eth had the adex last time can Soul do more a I don't know 8X seems crazy for soul too but maybe a 5x or a 4X like that would put so at like $800 to ,000 that's kind of where I marked it for the end of like it's top of this cycle but again who knows man the the only thing with salana is it doesn't get the demand of an ETF which is obviously a massive thing so that's the one thing I still think salana outperforms eth without a doubt this cycle I don't know if it happens in the 90 days and the reason I

say that is Within These 90 days is when eth gets a CTF and so I just think it's going to get a lot of capital from that though like very soon after salana is going to salana is going to outperform so anyway you stay in any of these three assets and you're good don't try to jump around what I notice people keep doing is like oh salana was lagging a couple days ago but eth really took off so they like they sell their soul in puted to eth and then you look at what happens and in one day salana goes up 12% it's like just keep dollar cost averaging into both of them or all three if you want some Bitcoin exposure too but at this point like I wouldn't be buying any Bitcoin I've rotated everything to Ethan salana and like I just continue to buy

those because we still have a lot a lot to go here obviously you can go farther down the risk curve but we we're not going to cover any of that today okay well that was the most bullish market watch we've had in a while in the same week that we hit alltime highs it's insane okay let's go to something that is going even more crazy this past week which is meme coins I've got up on the screen here the chart of the top six meme coins which are made up of five dogs and a Frog no that's not a joke and these top six mean coins in the past seven days most of them have gone up over 100% up to the highest is Pepe has gone up

137% in the past week alone I'm sure everybody listening to this you you've seen it you've heard it everyone's talking meano season mem coin season holy things are going crazy there's a couple things to discuss here first why is this happening well it's happening for a few simple reasons one is we're starting to see meme coins listed on more exchanges this past week Robinhood listed dog with hat binance listed dog with hat this past week we're seeing more and more of the top exchanges picking up meme coins which just gives more access to traders to be able to purchase and buy these meme coins we've also seen Bloomberg News talk about mem coins I've got a photo up

on the screen here and it's two very respectable Bloomberg analysts up on screen and I wish I had the clip of what they're saying here because I can just imagine them saying mecoin frenzy reaches a crescendo on the back of a Bitcoin rally Pepe a frog themed coin and dog whff hat yes a dog pictured wearing a hat have been racking up fresh highs almost da according to data from coin gecko so you could just imagine a Bloomberg analyst trying to explain to a Trad VI investor what the f of mean coin is and a frog and a dog with a hat are reaching all-time highs what is one of

those things where they're trying to Value it and they're trying to make sense of it and it's like as we all know we've talked this all the time they're not something you can make sense of it just is what it is you have to respect it you can't ignore it you can't be close-minded about it you have to be open but you're not valuing these things they're just gambling casinos of online communities of people having fun and making and losing a lot of money and that's just the vibe and they will never get that no I barely get it and I'm in my mid-30s god I've never said that my light I'm in my early 30s you know what I do get and I love is Robert F Kennedy Jr was at eth Denver this past week which is amazing to see the mainstream come into eth Denver in this way and

here he is wearing MOG glasses which are glasses that are used by one of the meme coins mob MOG coin which is also a dog not a shock these are all dogs oh sorry it's a cat sorry MOG is a cat either cat dog or frog and he's wearing these these Shades and Robert of Kennedy Jr is wearing these Shades and has tons of photos online and so m going crazy what's even more than well I don't think it's more than the meme coins but the other one that's really popping off that we don't have a slide up for but is AI crypto coins I was just looking I was like you know what I think they're doing better than mcoins I just looked they're crushing it but they're actually nowhere near the chart you Just sh showed so not even worth talking about he things

you're up like 20 30% a day like yeah it doesn't matter yeah the best one which one are you about to show oh man this is the best one this is the best one this is what I tried to say earlier in the show Harry Potter Obama Pacman 8 Inu is up 385 per in the past week look I'm not saying you should go buy this I don't know what the this meme coin is it's basically just every buzzword of like I think what is trendy to memein crypto gens right like they I love Harry Potter apparently I love Harry Potter so rock on Obama I guess they all love Obama too I I don't know but these things make where's Z but they're all

going they're all going to the Moon right not forever but they're going to the Moon right now because and this is what has happened several times before or is when meme coins go crazy it is usually the indicator of the early stages of bull runs because when typically early in bull runs Bitcoin goes crazy then it kind of trickles down to eth and soul which we've seen and people get rich and they get really excited and they want to play the casino and memecoins are often the first casino that you play before altcoins which is shocking because altcoins actually have businesses that are sustainable not all

of them but a lot of them do and I believe in all coins and you can value them on fundamentals meme coins you can't but that's who's in the space our space is built up of crypto Deens who get very excited and meme coins are a lot of fun but I think the main thing that gets me excited here is not the meme coin season because I'm not going buy mem coins Kai are you gonna go buy mem coins I haven't bought any meme coins but I did get air dropped when meme coin which is a cat on salana I forget why I got aird dropped and I was like you know what I'm not selling I mean it was like 30 bucks I was like screwed I'm not selling this thing I want to ride this thing out and it's almost at 300 bucks right now so I've 10

xed it and I'm I'm holding strong I'm a w guy now I have no idea what it is I did see that as soon as they launched though they bought a Twitter account of like I know like millions of subscribers of cat fans and I don't know what they're going to do with this Twitter account but it is a beam token around cat so like I was like well let's see what happens here so anyway I'm holding strong on my my Twitter like a bunch of middleaged women who love cat videos and now they're pushing when coin to these middle-aged women like I'm sure that's gonna translate yeah here's why this matters to me is historically meme coins pop off first in bu run and then altcoins follow

and altcoin season is much more attractive to me and makes a lot more sense to me and that is what I'm watching next is and I don't think we're quite there yet because really what we need for altcoin season to go is we need more retail in the space and we still even though coinbase app is at number 49 on the App Store we still don't really have retail yet yeah I was going to say I'm telling you these meme coins got a lot a long ways to go you had to have gone through like last cycle I remember I was like this is crazy you need to be selling your me coins now you need to be selling whatever and it's like they just go and they go and they go and you're like how could like they'll have crazy pullbacks of like 50% like a day and

then somehow they'll just rock it past it and go like hundreds of percent like it's nuts but again you can use this as sort of a guide to tell you where we're at in the cycle so if you don't invest in it it's good to just be aware of it because it just helps you understand who's coming into the into the market and like where we're at and so I I'm pretty sure we're still somewhat early which is nuts which doesn't make any sense but when token to the Moon Kai okay what else is going crazy this week is some massive purchases in the nft market first up here a crypto Punk sold for $16 million this week that's $4500 e that was the second highest crypto Punk purchase ever the highest

was 8 eth back in 2022 which was $23 million at the time so not 80 8,000 sorry 8,000 E Yeah 80s yeah what a joke 80s look this is not indicative of the whole nft Market the whole nft Market is actually I wouldn't say struggling but not popping off the way the rest of crypto is popping off right now the only thing that's really boosting the nft market is something we've talked about is the airdrop meta something we've talked about a bunch on this show is a lot of a lot of nft communities are getting airdrops coming to them and that is kind of boosting these nfts but that's really speculative because you

just don't necessarily know which nft is gonna get it but here's the thing there are nfts that have fundamentals that people believe in as historical pieces of art which is what Crypt punks is which is why Crypt punks are going for these big valuations right now because we have a lot of people who are like hey I want to buy and hold this Crypt Punk forever I think it's a good investment and it's not just Crypt Punk that have gone off we've seen a few other Grails go off as well two fidenza this week sold for one for 500 eth and another for 290 eth so that's like two million and a million respectively we had a diamond pudgy penguin sell for 150 eth this week and over on bitcoin ordinals we had a

node monkey sell for nine Bitcoin this week so we're seeing real high nft sales which again that is not an indication that the nft market is about to go crazy that's an indication that there is at the top end of the nft market early signs of investors who want to get into that space and want to use that as a way to really leverage their eth or their Bitcoin which which is generally a signal that the nft Market's coming back it's kind of like if you go to the fungible World Bitcoin dominates right to start and that's just signal like oh the rest is coming but it's usually a bit delayed and I think the nft market we don't know this because obviously we've only had one cycle of nfts but if you think of what nfts represent of

being sort of like luxury goods in an economy those typically lag six nine months whatever in the real world like your Rolex watches and stuff will lag to the real economy and you kind of can play nfts at the same sort of thing so I think it is coming to nfts but there will be a lag so which probably means like now as your signal when these things are getting their big sales you're signal like you might want to start buying the underpriced ones undervalued ones what those are I don't know that's something that that's the tough thing is like it's tough to know what's valued because it's very difficult to know which nfts actually have value right because a lot of them you could value the art ones okay I could value those if you believe in the art but if you're trying to Value an nft

that's like a business nft or like a project right like we're building a metaverse or like even ulabs is tough to Value right will they build what they're saying I don't know right like all these things Pudgy's one of the only ones that you actually kind of can value because they're building a respectable business that has real Revenue that might might actually have a way to funnel some of that value to Holders I wouldn't say you could value it but you could believe that it's going to get better and better right I don't think you can really do like valuation model on any of these things yet all right what's next okay let's go to coinbase I feel like we talk about coinbase every week but for good reason they introduced a a new smart wallet solution this week so it's called coinbase smart wallet and this is really

interesting look one of the biggest problems that we all know that exists in the space is the big barriers to entry it is so complex to onboard to an onchain app or a DB you need to connect your wallet often you need to bridge over and fund that wallet with a certain token you might need to set up a seed phrase because you need a new wallet or you don't have a wallet like all these things are so complex and so coinbase's smart wallet aims to solve that this is a solution that app developers and Engineers can use and plug in very simply to their app and it's really the first time we've seen this this wallet

is built on using account abstraction and it's the first time we've seen an account abstraction wallet built in a userfriendly way in a friendly ux we haven't seen that before and what that means is that you could use this wallet to set up an account on an onchain app and you don't need to you don't need to connect it with your existing wallet you don't need no seed phrase required this wallet Works only off of a pass key and it also connects into it's a global unified wallet which means it connects into the coinbase wallet SDK where you might have a lot of your liquidity and

it makes it very simple for you to buy and sell or to swap tokens in order order to interact with whatever dap or game you're interacting with and these are the the moments that are setting us up for not just like investment to come into the space but real onchain apps to be built that can use crypto that can use all the benefits that we talk about for so long of using onchain apps the big thing for this for those that didn't really get that is like any app that is launching now can put this in into their app and then it makes it very easy for a

user to like create an account inside that app but then instead of having a bunch of separate accounts across every app you can connect it back to your coinbase wallet so it all sort of integrates into one so it makes much easier for daps to you know have good wallets and then also much better ux for the user we'll have to just sort of try it and use it to like really understand it but it's going to make the ux across crypto and across using all these different apps so so so much better and even like Jesse Pollock who's the the guy who basically from coinbase who launched Bas was like this is the most important feature that we've launched since bass this is the thing that enables us to onboard tens of millions of of people on chain which like they can do they already have tens of

millions or hundreds of Millions on their app and this is going to allow them to get over on on chain easily so it's a really big deal we got to continue to watch what coinbase is doing this year because they're just they're Beast I don't know what we'd be where we'd be without coinbase to be honest we would I'll tell you that yeah no and shout out to all the work that they do on the political and lobbying side too I don't envy that work of having to go to Congress and meet with Senators constantly and try to convince them and explain to them what crypto is okay speaking of people not understanding crypto and governments Kai what happened in Spain this week yeah some of the Regulators data Regulators are demanding I don't even know if they can do this

but that worldcoin immediately seizes collecting personal information in the country and they stop using all the data that they've already gathered this to me is like you know that Meme of like the old guy from The Simpsons that's just like shouting out at the sky at the cloud get angry that's what this feels like to me because this is obviously people who I mean I guess they're data regulars they should really understand this stuff but they don't this is putting data on chain so that you can verify that you're human which is something that the the internet needs so bad and no government is solving this we're even remotely close and worldcoin is doing this in a very I I wouldn't say fully decentralized way yet but they have a good path of getting there and they are storing the data on chain like they are doing a great job of how

they're doing this and so like if you really dive into it as a data regulator for sure you're like this is perfect but obviously they don't get that so they just immediately go Oh some company is paying people to give their data and they're putting it online yes that would be really bad like if Facebook was doing this or some other company like this would be really bad they you need to control them right but they can't do that with worldcoin and they just don't saying like this is onchain it's actually much better like there's security ways that are are around this that they can't quite comprehend so they're saying Get rid of it we don't want to here I don't even think worldcoin could do that there's no way that worldcoin can comply with this how could How could a country stop worldcoin like yeah guess they could like stop the

orbs stop the people from using orbs but like You' literally have to go one at a time and like find the people with the orbs yeah you could ban you could ban orbs and find people for using orbs in your country like like you can do that good luck but but then I could go I could literally cross a border I could go to France I could go any you know somewhere else in Europe and sign up there and then I it's also pretty easy to hide in orb like they couldn't even ban Uber Airbnb do you know what I mean yeah and so like if you can't stop that how you gonna stop a little thing that can go in my backpack I get like it's a bit easier to stop Airbnb because it's my freaking home but they still can't even do that but so anyway there's no

way they can stop lot of governments tried to stop Uber and stop Airbnb like in in Vancouver which is the biggest city that's close to where I live they did not allow Uber until probably like a year or two ago which is insane wild but like they did they did but you it's so archaic to think for a government to think that they can stop the advance of technology and it's not surprising to see Spain do this they're probably one of like I would say uh oldest and most dodgy governments in the world but you need to embrace it and I I I don't know I just hope more governments Embrace this stuff India is a great example they've done an incredible job of

embracing blockchain and building onchain and using it to their advantage and trying to learn about it the UK also has done that but not necessarily crypto right they banned a lot of crypto and a lot of exchanges and things like that yeah all right all right okay you know who else is embracing crypto in big ways is fintech we have seen a couple of big announcements this week out of some of the largest fintech companies in the world I'm talking about Robin Hood and I'm talking about revolute so first up let me tell you what happened with Robin Hood Robin Hood has partnered with arbitrum to enable access to Layer Two transactions which means faster speeds

and lower cost for arbitrum wallet users so if you don't know about arbit from wallet if sorry for Robin Hood wallet if you don't know what Robin Hood wallet Robin Hood wallet is it's their crypto wall it it's been around for for a while and it allows you to you know to buy and sell I think they offer support for eth Bitcoin Doge arbitrum polygon optimism based there's a whole bunch of tokens they offer support for and it's a self- custody wallet but here's the thing if you want to swap crypto AC within the wallet across those chains you couldn't really do it before or if you did want to do it it' be crazy expensive on the fees and Robin Hood's sitting there and they're saying hey look we see that retail is coming we see that more people

are going to want to not just buy crypto they're going to listen to web3 Academy and they're going to be like hey should I move from this coin to this coin oh wow now's when I should move to eth okay how do I do that how do I make that Swap and holy do I have to pay the crazy gas fees that currently exist in order to do that well that's not a good user experience that's going to lead people to leave Robin Hood wallet which is not what Robin Hood wants so they with arbitrum in order to offer these low transaction fees to their users I would bet defi access to like dii protocols comes next like I I Robin Hood wallet wants to keep it somewhat in closed because they don't want people to get

scammed and lose their assets and stuff so like kind of like the Reddit style and so I think they'll slowly bring in like approved protocols and stuff that you could use from the wallet itself but I would imagine that that comes next which is the defi model the thing that the theory that we've had for many many years of defi in the back fintech in the front and I think think you know Robin Hood is going to lead that so is revolute who we're about to talk about PayPal's already starting to do this stuff but I'll let you take it away on revolute first yes so this week revolute partnered with metamask and essentially announcing that they're going to make it very easy for you to fund your metamask wallet using a balance from your revolute app so revolute is one of the

largest fintech Neo banks in the world really popular in Europe especially a lot of our team members here at Web Academy use revolute that's actually how we pay a lot of them when we pay them in Fiat and what do you do if you have your money in revolute well you want to transfer it into crypto revolute has made it super easy for you to do that so basically revolute is kind of turning into it's turning into crypto onramp it's one of the biggest I would bet one of the biggest crypto onramps out there if you want to move into to bitcoin you want to move into East whatever it is super easy easy to do it with revolute makes a ton of sense these guys are taking advantage of that yeah fintech companies are basically becoming competitors to coinbase they're becoming

centralized exchanges which I mean is good we we obviously need more ways to move Fiat into crypto I mean Revue PayPal Robin have had the ability to buy crypto for a while the unlock here is now moving your crypto off revolute and putting it on chain right that's the big unlock here that revolute is doing and so now and I mean PayPal does that Robin Hood now does that to and so now you have these three big fintech companies where you can buy stocks you can buy crypto and now you can move it all on chain as well so the pipes are just getting bigger and bigger speaking of pipes getting bigger let's talk about some air drops talk about some Big Time air drops Jay Big Time air drop I'm like it's hot we got ethery Wormhole Camino let's start with ethery Kai I know

you're in on this one what's going on this is one we've been pushing for a while and I feel like The Ether team has just done an incredible job with their point system and so etherly is the it's part of reaking so basically it allows you to have a instead of just like staking your tokens in igen layer you can just swap your eth for eth or you can run a validator through e as well or through ether as well and you get an actual reaking liquid token right so you can go use that defi or whatever but what's great is they've had a points program where if you hold e you get points from ethery and you get points from Igan layer so it's an air drop we've covered for a while it's a pretty big one they're pretty legit company and the date now at least they said The

Final Countdown is on until March 15 will be the final day which is when they'll probably announce their tokens then the token will come soon after that but they've done these cool things throughout so if you're a team and in crypto and you're going to do an airdrop what's really nice about what they've done is they have this point system already but then throughout it they've had these like little bonus games where like if you had sted eth for example Lidos um LSD and you swapped it into e eth during this one week they call this like a vampire attack they did this with three other tokens as well but if you swapped from those ones you got like an extra boost boo so you got extra bonus points throughout that week so that got a bunch of capital I think they're around like close to two I think it was

two billion or something like that in value now I can't remember exactly what so I might be wrong on that but thought I saw a tweet around there but then this week what they're doing is there's kind of their final push where you have like one more week and they're calling it The Final Countdown and basically Anyone who puts more eth into eth during this week is going to get a boost what's really cool about how they did this is they have a certain amount of tokens that are going to go to the community and Anyone who puts in for every 50k 50,000 e that gets put in they're going to increase the percent of total tokens that they actually give to the community and so up to 2% and so basically you can get to a total allocation of 10% here of the total uh tokens that they're going to be

releasing so pretty cool that they're doing this they're actually giving us a way to like get more total tokens of the entire Supply they're close to 100K now already since they launched this was just a couple days ago so pretty cool if you do put ethon half of those extra points that are going to come from this are going to go to you the other half goes to people who have already put in eth so you're not getting like diluted or anything so really really cool way to do it they've just been like a black hole sucking up eth and staked eth to be honest so really impressed what they've done uh I think this is going to be a big airdrop and it's coming at some point well at least we'll get the details next week we'll see what happens uh on the 15th of March but if you

haven't already done it you can still go put in and you should be getting something next one Wormhole this one we've talked about previously but today they actually or yesterday they actually launched the URL where you can go it's aird drop. wormhole. comom watch there's so many fake ones airdrop.on is the real one you can go and check how much you can claim this one is big time it's currently being estimated that the tokens will be worth about a dollar a150 I think was the last I saw I got a149 and a150 yeah on Wales yeah okay so there's there's like like premarkets but this thing's coming any day we don't know the exact day that they're going to allow you to actually like like then they're going to drop

them but you can see how much you can claim already so people are getting I think the minimum was around 1,500 W tokens they're called over $1,000 is the minimum and some are getting way way way more than that so I guess that at that amount actually we're we're over $2,000 so this a big one I think it was over 100,000 wallets are getting access to this and by the way if you merged like let's say you bridged your eth on Wormhole from you know ethereum to salana both wallets are eligible for the aird drop so you want to look and look at your salana wallet so your Phantom wallet let's say and your ethereum based wallet even if you ever merged uh I don't know why I keep saying merge bridged your eth to like terraluna back in the day and you still have that

wallet you are eligible for this airdrop so you can thank dquan you may have lost all of your ter Luna but that made you Al it was like the only way to get over to that chain back in the day was Wormhole so I pretty sure I threw out my seed phrasee the other day I like I'm never goingon to need this again so I can't even check to see if I'm eligible so I'm kind of pissed but is what it is so that's funny but that'll be a big one too so congrats to everyone who got that so this this one like based upon this current valuation roughly one point a150 this could be a $2.5 billion doll airdrop with wow just shy of a billion going to the community up the $2.5 billion liquidity coming in again like here we go again how much that goes into

coins Jay I I don't know probably probably a lot that's why m coins are not stopping keep going up okay let's go to Kino Kai what's going on here yeah so yesterday they put out a tweet they all said was tomorrow and so of course everyone goes nuts we're like well what's tomorrow and it's like well probably a token right tomorrow would be today as we record this which is actually yesterday for the listening but anyway if you go to yeah if you go to the next tab the details actually came out just before we started recording and so the token is going to be called kmn this one's interesting so they didn't do the snapshot yet most of the time when people announce the tokens coming they're like snapshot taken now it's done what they said is Snapshot is coming March 31st so you still have the

ability to farm this airdrop if you have not put anything on Cino or if you have you can increase it what I really like about what the team did on this one is they're doing sort of like a linear fashion So based off of the amount of points you've got which is based on the amount of capital you've put into Camino let's say you got 1% of all of the points that were put out you get 1% of all the tokens that are going to community members what's really good about this is it doesn't matter if you like split up all your tokens across a bunch of wallets because you're still just going to get the same amount regardless so those who try to cheat the system they're not benefiting at all all that matters is how much Capital you put in and like did you take a bit if you

took a bit more risk you get a bit a bit more points so really nice way to do it I think it just makes it more fair I I believe anyway others they like do it per like if you put a certain amount in a wallet you just get this amount of tokens and so like if you just did a little bit and like a 100 wallets you made way more than someone else so these guys did it in a more fair way I think so this one's good but yeah you can still go put in right now and farm this until the 31st as we look at this I'm just opening up another tweet right now you know we talked about at the beginning of the show the amount of demand that still is coming in for Bitcoin for the large Majors but look at

this list of the anti iated airdrops in the next two to three months and the amount of just think about the amount of liquidity this will bring in like I can't even read this list out it's so long Wormhole parcel tensor Camino margin F layer zero ZK syn Ian layer AO blast ethery magic Eden most like ethery magic Eden Wormhole and well Caminos by the way is launching in April so it's not right away but those three I just said are all the next week and then that's this is a small list there's so many more it's going to grow even further like this isn't even it it's it's nuts so anyway congrats to everyone who are doers and actually went out and

was able to farm these okay let's go to agree disagree Kai first up here I got a tweet from Emperor osmo he says if this is your first cycle let me tell you now means are going much much higher you ain't seen nothing yet yeah I mean I agree I said this at the beginning of the episode I agree for sure it it's one of those things where you you wouldn't think it could but if you've been in a cycle before you've already had that thought and you've realized that it definitely definitely can and you'll have that thought multiple times like this is the first time everyone's like whoa this meme coin season this season's gonna happen like five times by the time we're done here and it's just like it gets weirder and weirder each time so yeah I full on agree you have to be in a

cycle to experience it and and and the the crazy thing about it is it's not up only and that's the difficult thing and that's why they get so emotional because there's also going to be you know negative 50% drops there's going to be you know 200% weeks like we're just going to see so much so hold on to your tits everybody it's get to get crazy from here okay next up we got D's defi who says world population 8.1 billion total defi users 7 million you make up 0.8% of the population so yeah you're still early yeah I mean I couldn't agree more if you're equp to Twitter anyway or you listen to this podcast all the time you kind of live in a bubble where this

is stuff you just hear about you see all the time so you think you're late even now like oh we're at alltime highs I'm like I'm late and you're like dude no one knows about any of this stuff yet so like you're still so damn early it's ridiculous Echo right yeah the thing is I don't think the world like most people in the world just use D5 protocols in the way that we use them but once as we just said fintech builds over top of these things things and Banks do then the world does they just don't know it and that's when this thing is like who once you start to realize that that just like everything that we do in the financial system is just going to be powered by these things in the future and they're just like underlying you don't even know it you're like oh my God

we're so early it's ridiculous and and is that all built on top of lir 2os on eth which is why there's so much conviction for East in the long run maybe could be I think so Jesse IC says FYI coinbase and Bas have done a bunch of consumer research and onchain outperforms every other word that people use for crypto if you're using blockchain web 3 crypto Etc find a way to switch to onchain and you will be more successful fun fact Jay and I almost changed web the academy to I don't even want to say this because someone going to have make it but to onchain Academy like six months ago we never pulled trig on it but would have

been smart Jana who's from um the founder of block Works he he put out a really nice tweet here which said he actually retweeted Jesse poock and he was like I don't know about the fancy consumer research but Jesse's probably right here as technology evolves the words to describe it become more efficient and so if we think back in the day we used to call email electronic mail and then it went in like the like late 90s early 2000s it was e Dash mail and then like we just took away the dash and it became email we also used to call it web log this was like in the 90s and then it became but that's a space then it became webblog as one word and then it became blog right and so it just becomes more and more simple and then this one which is interesting it used to

be called picture element by that you probably don't even know what the heck I'm talking about but then it became a PIX element like okay maybe I get it and then it was a pixel so we all know the word pixel but there was iterations before that for those that were early which is where we this is why we can even say like you're super early like we call it blockchain or web 3 and now it's like for a little bit there it was like is it onchain with a space or is it onchain like together and now I was like okay I think we figured out it's just like let's just skip that part we don't need the space moved into one it's similar to like online and so it makes complete sense and this is so important as we look to onboard more people to the space the

reason that crypto gets such a bad rap in the media is quite simply they don't understand it and the more language we use that's confusing and sure it's fun when you're in the in Crow it's fun to be the one that knows the jokes and understands them so you use that language but that's not inclusive that's not welcoming that's not accessible and so I gota give a shout out to Jesse Pollock and the coinbase team for really being the ones to take the lead here to say okay here's the words that we should use that are going to get us to that next billion on chain users the funny is it's just because we've tarnished all the other words like crypto was great until we had all his icos and everyone blew up their companies and then nfts were cool for a bit and then also those

went to zero and everyone started bragging about how much they made and everyone's like I hate nfts these are stupid and it's like we just have to keep changing so then we went to web 3 and now we're like all right that's kind of too now we gotta go to onchain like so I don't know maybe even on Chain's gonna suck in a few probably at the end of this cycle we'll blow up that word too stick around for another few years and we'll tell you what it is okay next up qu a tweet from pentoshi he says we haven't seen anything yet in terms of alts it's a matter of when not if and then he's got a screenshot of the total crypto market cap excluding Bitcoin and eth so we've talked a lot about the total crypto market cap we talk about it at the

beginning of every episode when we look into market watch and it's flying it's flying off the handle right it's over uh $2 billion do now 2.4 billion but if you exclude Bitcoin and E what you see here is that we're actually still quite far from all-time highs alltime highs if you exclude those is about like 1.1 trillion and we're only at about 650 billion right now and for more perspective on this so like Bitcoin obviously at all-time highs ethereum still I don't know what the percent is but let's say 10 15% whatever it is away from alltime highs and all it's 50% and the other thing is is that in this cycle Bitcoin last cycle went up like 3x from its

previous a little over 3x from its previous alltime high etherum was like three and a half and then alts are way higher than that right so like not only do we have a lot more to go to get alltime highs they also are going to probably do way more X's than ethereum Bitcoin so when you talk about we haven't seen anything yet in alts I that's a definite agree which alts do you like the most o um I don't go too far down the risk curve so it's a tough one my thing is that I don't trade very often so I want to hold on to some things that I think you're going to do well this cycle like throughout most of the cycle not just like on a monthly basis kind of thing and then probably will still do pretty well in the bear I

think they all are going to get wrecked so I will get out of them but they won't be the ones that drop like 100% in like a day kind of thing and so some of the big l2s the only reason I really continue to hold those is like I've had those since they were at very very low and so like I still think they have plenty of room to go my trade's not over on those so like I feel really confident in those to do well this cycle they're not just like a narrative like an AI token right now or a meme coin where like it could drop off at any second so those like I just I'm very confident they're going to do well so l2s Soul obviously is one that I'm going to continue to hold on to I think is going to do really well I had some AI stuff

that I got before any of this craze went I still think there's lots of room for that to go so like Akash and near which I put out in the portfolio and pro those are ones that I've had and held to the bear and they're just they're going absolutely nuts over the last couple weeks but again still early so those are the main ones okay next up we got one from the defi Edge it says some narratives such as all l1's AI will remain strong throughout the cycle but stay flexible new sectors will come out of nowhere last cycle there was moved to ear and Olympus D Forks remember people love new shiny objects yeah you got to be careful on narratives too like if you can find the narratives before they hit then it's huge right like I said like being in AI tokens before they were even

AI tokens like aash was not an AI token years ago it was just like a decentralized compute and it just happen AI comes along and it's like well we need this stuff more than any other industry and you're like sweet we've got a new customer for this one right if you can be in it before the narrative that's what really matters the other thing to keep an eye is like just because it's a narrative now doesn't mean it remains a narrative like play to earn and move to earn are not really at all like exist anymore but those were massive narratives for a bit same with the Olympus Olympus St stuff from way before like those all blew up and so like there are certain narratives that will go and they'll make it through to the next cycle but there are many narratives that are just a fat and they're just noise so

you need to try to figure out how to separate the signal from the noise which isn't the easiest thing to do but that's what we try to do at in our Pro so if you're not a pro subscriber there's another reason to subscribe separate the single sing signal from The Noise Okay next up last one we got George Robertson he says man this year is going to be wild outof control fiscal spend us stronger and more risk-free than ever a crazed contested election is likely a Fed that has erased itself in in terms of efficacy and the size and monstrosity of this economic expansion expansion just starting to Dawn on folks what's actually a little bit wild as I read as you read that tweet out is all

throughout the bar Market a lot of our Pro reports a lot of our discussion was around liquidity and we're like liquidity is what drives these Cycles okay it's not the Bitcoin having and none of that stuff right it's liquidity coming to the system it's why we have Cycles in all assets and the liquidity part of that cycle has just started all the bullish we talked about the market watch section the begin this episode was things specific to this industry and liquidity coming in this industry but that's not liquidity expanding the entire like all the economies and the like fat liquidity right and that is just starting interest rates are still 5% we are printing money but it's not like overly yet but that is going to have to happen soon to pay for and refinance all the debt that governments have so like we're just starting on that

liquidity cycle which makes you wonder and think our thesis of can this thing two three whatever X in 9 like if that liquidity starts to expand like now which it already is there's so much more room to go how Go fullish episode Jay oh baby oh baby the times are good everybody is feeling strong I hope you guys are feeling good we're certainly feeling good if you got a question or anything you need help with look we're your buddies we're your crypto buddies we want to separate the signal from The Noise We want to make sure you know what's going on so don't hesitate to drop a question in the comment comments if you're listening on YouTube jump into our Discord links in the show notes subscribe to our newsletter reply to the

newsletter with a question we will always respond and make sure you guys feel good you feel confident and you feel ready to take advantage of the opportunity that is still very much to come you know I think there's one thing this episode taught me Kai I don't know if I'm bullish enough which is insane to say right now maybe we're the top signal we're starting to sound pretty Toby I don't like that next weeke all about Bears next weekend the Bears are out we'll see you guys next week have a good weekend touch some grass practice gratitude see you later thank you for listening to web through Academy your one trusted source to capitalize on the

next big phase of the internet if you enjoyed this episode please share it and subscribe or follow so that you don't miss the next one while you're at it there's a link in the description for our free newsletter where we provide timely and relevant web 3 insights so you can confidently build and invest in web 3 make sure to subscribe today one final note this podcast is for educational purposes only and nothing we say is financial advice crypto and web3 are risky and you should never invest more than you're willing to lose thank you friends and see you in the next one