WATCH DOMINANCE

“Cardano does have some good news. It isn't all bad news out there. Cardano stablecoin market cap has tripled over the past year. You can see a huge jump after they implemented USDC's USDCX stablecoin. And we've seen a lot of hacks on Ethereum and seen some issues with Solana DeFi as well. Cardano, hack free.”

“Korea is a very petroleum intensive economy, A lot of petrochem's energy intensive industries in addition to the memory chips and so, and it energy poor, fossil fuel poor. So it is on the one hand benefiting from this giant positive shock memory chip surgeon price surgeon demand, AI is helping Samsung print money hand over fist, and then the economy is on the receiving end of a pretty big negative shock because of the loss of oil flow.”

“Now first thing, we are bouncing at the exact support level that helped ADA bounce 90200% before, and I'm talking about this level right about 24¢. And you can see right there, right at 24¢, we bounced hard in '22 and in 2023 and again potentially in 2026. Now the first pump, like we were saying, 90%, but the second one actually pumped even harder.”

“Cardano, hack free. There's zero hacks when you look at Cardano's DeFi. And Cardano's always marketed itself as having robust security. In the face of l ones seeing hacks left and right, this should be a positive catalyst moving forward. But having zero hacks isn't gonna lead to immediate green pumps. But over the long term, it should be seen as a benefit for the larger crypto ecosystem.”

“In seventy three and then in seventy nine oil doubled or tripled, and by the end of the decade oil had gone up like well six seven times and dollar prices less. In real terms, we've only gone up whatever fifty percent max from spot oil, I mean sort of for Brent and for WTI and the next month future. It's a little higher for delivery in Asia.”

“A typical global reserve portfolio is now at fifty seven percent dollar, so the notion that reserves are the source of inflows in two dollars is a bit dated. A reserve portfolio will typically have a lower dollar share than a standard return seeking equities fund, which, just because of the outperformance of the US large caps, will be more overweight dollars.”

“Another reason we might see dominance tick higher, high federal rates. We might see high Fed rates. A lot of prediction markets are saying, you know, that the Fed is going to increase rates. Not typically good for altcoins. Typically, you know, you want to be a little bit less risky in that environment. However, the but, but Trump wants lower rates.”

“Until China, which doesn't didn't love the US before, decides that it is willing to change how it manages its currency and how it manages its economy, it is compelled to go into the market and buy if it's exporters want to convert dollars for you on. And when it's exporters are not converting dollars for you on, they're still holding dollars.”

“To me, that's the others chart. This looks at every crypto except the top 10. In my opinion, Bitcoin dominance is slowly getting skewed. It's becoming less and less accurate. The reason why, USDC, USDT. You do the others chart, it excludes USDC and USDT because it has everything outside of the top 10. This to me is a better bellwether for altcoins.”

“Look at the last two times, we shot above 60% Bitcoin dominance. And 60% Bitcoin dominance just means Bitcoin's market cap is 60% of all crypto out there. And so last time we pumped above 60%, a very quick correction. And the time before that, an even more quick correction. And if you look right here, we are starting to see a red candle on the daily.”

“And we are seeing signs that we are about to see an alt season breakout. Altcoin market cap is now broken out of a seven month downtrend. Gordon Gekko saying it is now showtime. This guy has almost a million followers. 846,000 to be exact. Let's go ahead and dive into the charts. But what are we seeing in the Cardano charts?”

“First thing, we are bouncing at the exact support level that helped ADA bounce 90% and 200% before. And I'm talking about this level right about 24 cents. And you can see right there, right at 24 cents, we bounce hard in 22 and in 2023 and again potentially in 2026 Now, the first pump, like we were saying, 90%, but the second one actually pumped even harder.”

“They have the most oil and they also have some of the lowest break even prices, So any oil above sixty means a big current account sort plus, those countries are not going in a position to capture this windfall, so you've kind of taken Kuwait a rock Ua out of the picture.”

“Now the project I'm talking about shutting down is JPEG store, and JPEG store was by far the most successful NFT platform on Cardano. They really were the one stop shop for Cardano shop for Cardano NFTs. They are the open sea of ADA, and they just posted this. After serving the Cardano ecosystem since 2021 and sharing an incredible journey with thousands along the way, we've reached a point where the JPEG store and common platforms have to be sunset.”

“Now, the project I'm talking about shutting down is JPEG Store, and JPEG Store was by far the most successful NFT platform on Cardano. They really were the one-stop shop for Cardano NFTs. They were the open sea of ADA, and they just posted this after serving the Cardano ecosystem since 2021 and sharing an incredible journey with thousands along the way, we've reached a point where the JPEG Store and common platforms have to be sunset. They will only be online until the 23rd of May, and after that, the website will be shut down.”

“Altcoin market cap is now broken out of a seven month downtrend. Gordon Gekko saying it is now showtime. This guy has almost a million followers. 846,000 to be exact. Let's go ahead and dive into the charts. But what are we seeing in the Cardano charts?”

“In the face of L1s seeing hacks left and right, this should be a positive catalyst moving forward. But having zero hacks isn't going to lead to immediate green pumps, but over the long term, it should be seen as a benefit for the larger crypto ecosystem. And we are seeing signs that we are about to see an alt season breakout.”

“If we pass the Clarity Act, it's bullish for all of crypto, but it's more bullish for DeFi and alt coins than it is for Bitcoin. And Senator Tom Tillis says we could solve some of the disputes this week. So non-zero-percent chance, Clarity Act is going to get some serious momentum. That is going to be not great for Bitcoin dominance.”

“This historical metric looks at a previous all-time high. When it breaks the previous all-time high, how long does it take us to hit a low? And so this is the Pico bottom right here. And you can see we broke it right there. You can, you know, maybe a wick there, but basically 22 months later, 22 months later, that was a low.”

“Cardano stable coin market cap has tripled over the past year. You can see a huge jump after they implemented USDC's USDCX stable coin. And we've seen a lot of hacks on Ethereum and seen some issues with Solana DeFi as well. Cardano hack free. There's zero hacks when you look at Cardano's DeFi. And Cardano's always marketed itself as having robust security.”

“Bitcoin dominance has had a nice move lately, moved 4% in twenty four days, which for Bitcoin dominance is a lot because we're looking at, you know, high, high levels. We're talking about trillions of dollars here, and we passed this 60% resistance area. You see, we rejected, rejected, rejected, shot past it very cleanly. But I do have a warning. Look at the last two times we shot above 60% Bitcoin dominance.”

“The balance of payments break even of Saudi went from sixty to ninety to one hundred. So in order to have a current account surplus that needs to be invested abroad, the Saudis now need an oil price of roughly ninety five. They did not get that last year, so they were running budget deficits. They are running a current account deficit which was financed by borrowing from the world.”

“There is strong, strong resistance at 60%. You can see right here, we are knocking all against it. And I can throw down a horizontal line. So we can see a little more clearly, couldn't pass this range. And so there's a decent odds that we will reject from this range. You see, we try to pass it there.”