Ethereum News: Something BIG Is Happening with Crypto…

Wtf is happening to Ethereum? Why is crypto going up? Let’s discuss the latest cryptocurrency news for bitcoin, ethereum, altcoins, & MORE! SLAP THE LIKE BUTTON! 👋
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TimeStamps:
00:00 Intro
00:14 Ethereum Balances on Exchanges DROPPING
02:27 Staked ETH Growth Milestone!
03:28 JP Morgan’s JPM Coin News
04:34 Vitalik Buterin WARNS Against CBDCs
05:16 Managing Director of Bitget Joins ‘Killer Whales’
05:47 Bitget Competition & Prizes!
07:25 Why Are ‘Blue Chip’ Ethereum NFTs Plunging?
08:59 Final Thoughts (Killer Whales Info)

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I know a few people have seen the Internet meme where like there's uh you Have this picture of like a horse Something big is happening with ethereum Ethereum price eyes 3K as exchanges eat Balances drop to an all-time low so Looking at the data from glass node Exchange balances for eth reached a new Low of 12.6 percent dropping sharply in The last 30 days reduced Supply on Exchanges is usually a bullish sign as It means fewer tokens are readily Available for selling and looking at the Chart this is ethereum by the way on all Exchanges not just us not just Asian but All exchanges and while this shows price And price in black and exchange balance In Blue from January 2018 till today we Can see actually since July 2020 but Then actually the sharpest declines at The end of 2022 and then just a few Weeks ago the trend seems to be clear Even vitalik V creator of ethereum has Got jokes against centralized exchanges There's a darker side to centralize this Changes right Right so centralized exchanges are you Know also sometimes you know not very uh Trustworthy uh they you know Do stuff and uh sometimes they decide That they're better at having fun with Your money than you are [Music] Here and while I will share with you one

More vitalik clip let's actually break This down because the eth supply leaving Exchanges is not actually for the Reasons you may think the net flow Volume of deposits and withdrawals from Exchanges shows a steep surge in Withdrawals at the start of June amid a Regulatory Crackdown on binance and Coinbase so this data should be taken With a grain of salt as withdrawals were Caused by investors spooked by Centralized exchanges and that tracks we See well first off the overall trend is Not invalidated this is good no matter What the reason is take your eat take Your crypto off of exchanges I love that But the sharpest withdrawals were in the FTX collapse you can see right here this Was a huge outflow and then just Recently with this SEC coinbase binance Crackdown so now you know why you have That knowledge it doesn't have to but in November it did leave to a 33 price Increase so so Supply went down price Went up Supply just went down and we Have yet to see that pop yet but now Adding in staking the amount of Supply Being taken off and putting in staking Contracts at the same time eth's Supply Locked and staking contracts has surged Significantly since April's shoppel Upgrade currently over 23 million eth is Deposited in staking contracts Representing 19.1 of the total Supply

Meaning roughly one in five of every Ethereum in existence one in five is Staked and why this matters is because Staked eth just hit its 20 million Milestone doubling since the start of This year in fact staked ether is Becoming so popular that the raw number Of eth staked on the ethereum blockchain Is about to surpass the total amount of Ether that is kept on all crypto Exchanges even banking giant JP Morgan Continues to use ethereum at least their Permission centralized stable coin on Top of it JPMorgan activates Euro Payment settlement with its JPM coin so They've expanded to Europe and four Years in with the existence of JPM coin The financial Giants JPM coin has been Used internally to settle about 300 Billion dollars in payments total so a Permissioned blockchain is a distributed Ledger but it's not publicly accessible It's just for them they control it and The bank said that JPM coin is only made Available to its institutional clients And only for settling payments so They're not using xrp they're not using Even USD coin they made their own and The news today is this the JPM coin Transaction the first ever for its Corporate clients in Europe this first Ever transaction in Europe was conducted By Siemens AG a large germany-based Conglomerate in a euro-denominated

Payment on JPM jpmorgan's permission Block chain and while JPM coin is not a Central bank digital currency it's Merely just a BDC just a bank a major Bank digital currency vitalik's on stage Warning you warning me about cbdc's in General I know a few people have seen The internet meme where like there's uh You have this picture of like a horse And the left side of the horse is like This really beautiful and like real Photo realistic drawing and then as you Get closer to the right edge of the Horse he gets something that looks like It was drawn by a five-year-old and like The left side is like Theory and the Right side is and like the middle is Like plan and the right side is like Consumer facing implementation right and Like cbdc's are basically like that Right like and big news for sponsor of The channel bitget hello Labs announces Bid gets Gracie Chen on killer whales Reality TV show I am super excited about This so at the end of today's video I Will share with you more information Just because we're just about to start Filming this week but it's cool to see Gracie Chen the managing director at Bitget join the squad and the newest Addition to the show Gracie Chen heads Up it gets growth strategies since she Joined the company in 2022. now just for Some background on bitget they're a top

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And find when vetting projects we are Excited for her to share her knowledge And expertise and provide invaluable Takeaways to the entrepreneurs who enter Killer whales in other news in the Ethereum world board apiat Club one of The biggest nft collections their nft Prices are plunging why well actually It's a lot of the Blue Chips the floor Price of crypto punks and board apoc Club dropped by nearly eight and seven Percent respectively over the last 24 Hours nansen's Blue Chip 10 index of the Top 10 nft collections in existence has Dropped 31 year-to-date and why is that Especially board a biat club why are They seeing the most cells in recent Weeks the board ape Yacht Club has Sustained sharper losses with the floor Price or the cheapest listed nft on the Secondary Market falling nearly 19 Percent over the last 30 days and a Board ape today the price starts at Around 36.4 eth or around sixty eight Thousand dollars which is nearly the Cheapest they've ever been and by the Way this is already bounced now it's Back up above 40 but that is near the Lowest it's ever been that's the lowest Board a floor price in eth terms since November 2021 when the project had just Started taking flight light we also have Mutant ape Yacht Club prices down 26 Percent in each terms over the last 30

Days now starting at 70th floor price as Well as crypto punks have fallen less Than three percent in the same time Frame at the peak of board Apes price Back in 2021 the floor price was 152 Ethereum actually that was April 2022 Which is worth almost half a million Dollars that is the video and I do just Want to give a brief update all this Week so for the next four or five days My brother and I will be filming that Web 3 crypto TV show killer whales I Will try and post some pictures on Twitter when my brother and I are there So make sure you stay subscribed and Actually follow us on Twitter there's a Link down below but just expect some Awesome interviews for the next four or Five days here is just a teaser what I Worry about I worry about holding gold That's you know if you're asking me what Do I fear I I think if I actually have the superior Asset if I was a gold holder I would Fear it's not really a question of Worrying about Bitcoin you ought to Worry about everything else So the fear The fear really is