Let's get a check in on bitcoin Continuing its decline now dropping Below 57,000 the Bitcoin price continues To consolidate lower with volume Declining and many experts blaming this On the US Bitcoin ETF outflows from the Last few days flirting with a one Monon Low yesterday down about 4% at one point In the trading day if it hits that key 50,000 level it's around hovering around The 55,000 level right now but that Could be another key technical level for Bitcoin which could see even more Pressure On the asset moving forward here also Bitcoin ETFs had their longest outflow Since June over the past couple of days Here and I do need to update you on Saana on chain link on Lower cap Altcoins and more watch today's whole Video but what the mainstream media Won't report I will that's why you Subscribe is that if you zoom out a Little you can see that Bitcoin is still Forming a massive bull flag this tends To be bullish and if we look at the news Coming out of Venezuela today this seems To be exactly what Michael sailor Predicted there's every indication that Nation states are embracing it the Leader of the Venezuelan opposition is Proposing using Bitcoin as a national Reserve asset I think that people Understand it's it's not a threat to the
Dollar by the way and to be clear the Leader of Venezuela's opposition Maria Sees Bitcoin as their one shot to Protect themselves against Venezuelan Inflation the Venezuelan believer wants Stable at three to four units per US Dollar has lost 14 zeros under chais and Muru turning a functional economy into a Catastrophic financial crisis in 2018 Inflation reached an unimaginable 1.7 Million per with prices doubling every 4 Days since 2016 cumulative inflation has Exceeded 8 million per driving millions Of Venezuelans to to flee our country This financial repression rooted in State sponsored looting theft and non Check money printed happened despite our Vast natural resources and despite an Old price boom that peaked at $147 per baral in July 2008 also Accumulate Bitcoin in their reserves as A national Reserve asset before before All reservers were plundered Venezuela Had wealthy Financial reserves worldwide We will restore those reserves and Include Bitcoin as a key component and This revolution is not stopping Bitcoin Is very different than every other asset I don't think a lot of people realize There's a very unique aspect to bitcoin And that is that with other Commodities They can be consumed right gold is Consumed for industrial purposes jewelry Etc oil is consumed metals and with
Financial instruments like stocks They're driven based on the performance Of the companies that the shares Represent and you know this argument That people have had for years that well Bitcoin isn't backed by anything Bitcoin Doesn't represent anything here's the Beauty of that Bitcoin trades purely Based on the sentiment people have in Its value and its scarcity M that's it It's a much more pure form of investment And when you see Bitcoin move yet has Two times the volatility of an S&P or an NASDAQ but look at how fast it bounces Back so yes the crypto Market is dipping Today but even Sergey nazro founder of Chain link explains how blockchains and Oracles can help prevent the next Global Financial crisis so the global financial Crisis was created through a Confluence Of greed in the profit motive Mismanagement and poor processes a lack Of information and the siloing of Critical pieces of information in places Where all the market participants Couldn't access it the thing that I Think our industry can really solve is The ability to convey critical Information to everyone in the market Equally not just a few select Participants that had access to the Information clearly it was possible to Understand this about mortgage back Securities cuz a few key groups made a
Lot of money uncovering it understanding That data but the difference is that That data was not available to the Larger market of asset management firms Rating agencies and just Market Participants if that had been the case Then the market would have been Efficient the risk would have been Reduced much earlier and the global Financial crisis might have never Happened and this transparency of Critical pieces of information to the Market is what blockchains Oracle smart Contracts do in a very fundamental way And if you have a friend that holds Solana or uses a Solana wallet you may Want to send them this scammers have Found a way to burn tokens from inside Solana wallets scammers on Solana have Found a way to burn tokens inside a User's wallet so the way they're doing This is by using an inbuilt salana Extension called per perent delegate That allows the scammer to burn all Tokens in a transaction mere seconds After it completes this extension is Intended for things like mistakenly sent Tokens but Salon itself says it can be a Double-edged sword so reports have Emerged of users buying tokens and not Seeing it show up in their wallet Balances imagine you swap for a token And the wallet history confirms that you Received it but then you look inside and
Nothing shows up one salana user swapped For a token called red which had this Permanent delegate extension and Although the tokens landed in their Wallet 7 seconds later they were gone Now exchanges like Jupiter have put up a Warning about this but if you're active In the salana ecosystem make sure you Check for the permanent delegate Extension so I believe this applies the Most to new or just Degen unheard of Coins if you're dejing this hard be Careful and big news for polygon mtic Finally upgrading transitioning to a new Ticker polygon's migration away from Madic and toward a brand new crypto Token is underway the blockchain scaling Solution has rolled out a network Upgrade to convert madic tokens to pole Tokens pole will now be the native token For gas and staking for polygon's POS or Proof of stake system if you use the POS System you don't have to do anything to Convert your madic to pole but if you Hold madic on the ethereum network a Centralized exchange or some other Networks polygon says the upgrade will Enable holders of that crypto to convert Those mic tokens now polygon says the Shift to pull will help bring needed Upgrades and prepare for future updates For the network like zero knowledge Proof generation as of noon Eastern the Poll token dropped more than 7% now
Scrolling down to polygon on coin gecko We see no transition has taken place yet I guess it's going through the process Also be sure to like like the video and Subscribe if you got value today we're Really trying to hit 1.5 million Subscribers before the end of the year And looking at news for injective which As they describe themselves the fastest Blockchain for finance backed by binance And mark cubin the news today injective Is introducing the first ever tokenized Index for black rocks build fund a Perpetual index product that tracks the Supply of the build f fund itself now Users can access the fund with the Lowest fees and fastest speeds in crypto So how this affects you and just to clue Everybody in what build is it provides Institutional investors access to yield On assets such as us treasuries it's Tokenized on ethereum and while Previously the build fund was only open To institutions through Black Rock That Could invest at least $5 million now With the power of injective anyone Around the world can access the build Index Perpetual Futures Market with as Little as $1 so I guess it's just sort Of copying what's in the fund I believe Also be sure to join us in Singapore if You'll be a token 2049 it's Tuesday September 17th going to be an awesome Party Dylan Francis is the main DJ it's
At the Marquee at Marina Bay Sands and Your ticket if you choose does get you Free Dr DRS link down below join us and Like all we see tomorrow
