Bitcoin’s price is currently below $40,000, but altcoin daily remains bullish about the cryptocurrency’s potential. The channel identifies seven areas in cryptocurrency that investors should watch for capital injections over the next two years: Ethereum layer twos, bridges and interoperability, decentralized data storage, dows, gaming, decentralized derivatives, and under-collateralized lending. Other news discussed includes the Coinbase NFT Marketplace, Amazon’s potential future involvement with NFTs, and Choice App’s offer of no capital gains tax on cryptocurrency assets. Additionally, the NFL has signed its first cryptocurrency exchange sponsor and Solana NFTs are now available on Rarible.
Seven Areas of Capital Injection in the Crypto Space to Keep an Eye On
Welcome back everybody to Altcoin Daily! You subscribe for a daily video taking a look at the price of Bitcoin. In recent news, Bitcoin is taking a nosedive below 40,000. How long will it stay here? Let me know the price of Bitcoin as you’re watching this video. Above 40 or below 40?
Bullish on Bitcoin
Despite all the uncertainty, I remain bullish. In today’s video, I want to go over the next big crypto narrative. Here are seven areas to keep a close eye on for capital injections over the next two years. Take two seconds, smash the like button if you’re a Bitcoin believer like me. I believe Bitcoin is in heavy accumulation. According to this chart, Bitcoin is in a heavy opportunity zone rather than heavy risk. In fact, only a few other times has Bitcoin reached the zone of heavy opportunity (the green). This is also the longest time Bitcoin has ever spent in the zone. I suspect eventually Bitcoin will trend up. Of course, if any of us knew the future, we’d all be rich. That being said, as cryptocurrency enthusiasts, investors, and people interested in this space, as people who know more than maybe people who don’t tune into the crypto market every day, there are certain verticals of cryptocurrency that I believe are the next big thing.
Seven Areas to Keep an Eye On
Here are seven areas to keep a close eye on for capital injection over the next two years.
1. Ethereum L2s—Layer twos like Arbitrum, Optimism, and Starkware. These three have yet to launch a token. There are certain L2s with a token like Metis. All of these, however, have seen tremendous adoption over the last year. These three L2s alone (Arbitrum, Optimism, and Starkware) have a total value locked of over 5 billion. A number likely to go up, by the way. Speaking about these three L2 token launches are imminent and worth noting.
2. Bridges and Interoperability— The multi-chain world is here. Bridges and interoperability are two of the most important factors in web 3 adoption. Nobody wants a laborious process to move funds from chain to chain, and a focus on user experience and integrations will be the key differentiator.
3. Decentralized Data Storage—Decentralized data storage like Filecoin, Holochain, and Arweave. These things have yet to see a bullish narrative among the masses. Projects have been innovating in this space for over five years, and a large corporation utilizing a decentralized provider will be the catalyst needed. Cloud storage is a 150 billion dollar market.
4. DAOs—DAOs will be huge over the next few years. DAOs will purchase. DAOs will control real-world assets and protocol governance alike. And these purchases will act as a testament to the power that stems from decentralized communities.
5. Social Tokens—Not necessarily for managing funds, will also pop up.
6. Gaming—A significant game studio will adopt digital assets and implement them in a high-grossing game. This sector has the most potential to push digital assets into the mainstream outside of value speculation.
7. Decentralized Derivatives—Like Injective, dYdX, GMX, DopeX, are just a few of the builders looking to decentralize derivatives. Keep an eye out for the gargantuan desks to start trading and market making on decentralized platforms.
In summation, Ethereum L2s, Bridges, Data Storage, 1000 Social Tokens, Gaming, Decentralized Derivatives, Under-Collateralized Lending, these are major trends that we’re looking towards for the future. We will keep you updated on this channel. Make sure you subscribe.
Other News From the Crypto World
Let’s go over some of the big news of the day. Coinbase NFT Marketplace already has four million people on the waitlist. This is more usership than OpenC. This will be huge for NFTs. Amazon CEO is even being asked about selling NFTs and going on the record saying that selling NFTs on Amazon is a possible future.
Before we get to more altcoins, let me take 60 seconds and turn you on to a major opportunity that most people in crypto do not realize they can take advantage of. This can benefit most crypto holders and traders greatly, and this opportunity is through a sponsor of ours, Choice App.
Fan Tokens—we really have yet to see any mainstream adoption of fan tokens yet. The integrations/pairings are being put in place, Fan Token platform Socios signs 13 NFL teams. The Rams, Giants, Buccaneers are among Sociosa’s new allies but there are no NFL team tokens yet due to league restrictions.
Solana NFTs are heading to Rarible. First, it was OpenC. OpenC at first was just Ethereum, then had L2 Polygon, then became multi-chain and multi-coin with Solana. Wearable, now going to integrate Solana NFTs as well.
One inch now supporting Phantom, which means greater liquidity and even cheaper fees for Phantom.
Dogecoin spiking as Elon Musk plots his Twitter takeover.
Dallas Cowboys: America’s favorite football team lassos NFL’s first cryptocurrency exchange sponsor. Blockchain.com, popular NFL team, is the first to sign a cryptocurrency exchange as a sponsor following a recent league rule change.
If you appreciate today’s video, smash the like button, subscribe to the channel. My name is Aaron. See you tomorrow.