(Tuesday) Bitcoin and Ethereum Update! With Cryptonews

Boxmining avatar Boxmining
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Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analy...

AI Analysis

This video offers a casual yet informative dive into the latest crypto market happenings, focusing on movements beyond Bitcoin and Ethereum, the exciting (and sometimes peculiar) world of altcoins, institutional adoption, and the future of Ethereum. It also sprinkles in personal insights, practical advice, and even some opportunities for free crypto.

Here's a breakdown of the key discussions:

* Market Snapshot & Altcoin Mania: While Bitcoin is holding strong around the $19,000 mark and Ethereum is hovering near $600 with good potential, the real action is happening in the altcoin space, which is "going bananas." There hasn't been significant movement for Bitcoin or Ethereum in the past week, but smaller coins like Compound, Blockstack, Band, and notably VeChain have seen aggressive rallies. VeChain, for instance, has been pushing up, partly due to its enterprise blockchain solutions, including efforts to track vaccines on the blockchain for enhanced transparency.
* Institutional Embrace of Bitcoin: Michael Saylor of MicroStrategy is a big bull, planning another $400 million raise to acquire more Bitcoin. This isn't just about flexing his successful investment; it’s also about building hype and leveraging the growing interest. This trend of "revived interest" is visible across the board, with institutional investors and "family offices" (funds managing rich people's money) increasingly entering the crypto space, as observed by Genesis Block in Hong Kong.
* The Wild West of Rebase Tokens: Base Protocol, a "rebase" token, recently exploded, showcasing a peculiar market trend. Similar to Ampleforth, these tokens automatically adjust their supply daily based on a target price. For Base Protocol, that target is the global cryptocurrency market cap. If the token's price is below the target, your coin count might decrease (negative rebase); if it's above, you get more coins (positive rebase). The presenter finds the mechanics of rebasing illogical for creating a stable index, but acknowledges that people "love it" because they don't fully grasp how it screws up the traditional concept of price, leading to what he calls "crypto magic" where prices seem to rebound, making holders feel richer. He even admits to jumping in and profiting from Base Protocol after seeing similar tokens like XBTC pump.
* DuckDAO's Incubation Power: DuckDAO, which incubated Base Protocol, is highlighted as incredibly effective at finding and incubating new crypto projects. Holding DuckDAO tokens grants access to early-stage investments in these projects. The presenter is genuinely impressed by DuckDAO's aggressive strategy in identifying promising projects and fostering a strong, engaged community.
* Southeast Asia: The Next Crypto Frontier: The video points to Southeast Asia as a critical region for crypto growth, with initiatives like OMG Network's acquisition by Genesis Block Ventures and Velo Protocol's operations in Thailand. The region, particularly Thailand and the Philippines, has a strong demand for crypto due to monetary restrictions and high fees for traditional money transfers, making cross-border crypto transactions a massive use case. This area has the potential to become "the next South Korea" for cryptocurrencies.
* Scaling Ethereum with Layer 2: Layer 2 scaling solutions, like Optimistic Rollups and ZK-Rollups, are crucial for Ethereum's immediate future before Ethereum 2.0 fully scales. These technologies enable "off-chain" transaction processing, drastically reducing fees to "milli milli milli cents" while maintaining security by ensuring transactions can be proven and settled on the main chain. The presenter notes the complexity and importance of these solutions, admitting he needs to deep dive into them himself.
* Personal Journey into Ethereum 2.0 Staking: Ethereum 2.0's Beacon Chain has launched, though its full scaling capabilities are still a couple of years away. The presenter has personally staked 32 ETH to run an Ethereum 2.0 node using Allnodes (a node hosting service). He's currently awaiting activation, which is estimated to be in about two days. This setup allows him to earn an expected annual yield of around 14%, or roughly 0.4 ETH per month, without giving up custody of his private keys. He strongly advises against holding significant funds on exchanges and advocates for self-custody, either directly or through secure node services. He's also running an Ethereum 1.0 miner and plans to compare the passive income from both.
* Bitcoin: The New Digital Gold: Traditional gold investors, often called "gold bugs," are starting to move into Bitcoin. They value gold's finite supply as a hedge against currency devaluation, and Bitcoin shares this crucial characteristic with its fixed supply of 21 million coins (even less due to lost coins). This makes Bitcoin an increasingly attractive alternative for those seeking a store of value. The presenter lightheartedly suggests that even long-time gold maximalists are finally recognizing Bitcoin's value.
* Dispelling Regulatory Fears: Rumors about the U.S. government banning software wallets and self-custody are dismissed as mere "fud." On the contrary, positive news for crypto from the U.S. Comptroller of the Currency is anticipated by the end of Donald Trump's term.
* Grayscale's View on Ethereum's Growing Appeal: Major asset manager Grayscale reports a rise in "Ethereum-only investors." This suggests that even cautious institutional players are beginning to understand and appreciate Ethereum's potential, especially in the DeFi space.
* Cryptopia Exchange Liquidation – A Cautionary Tale: An email notification confirms that Cryptopia, a former low-cap exchange that collapsed, is initiating its liquidation claims process. The presenter warns that such processes can be prolonged and frustrating, drawing from his difficult experience with the Mount Gox liquidation. He reiterates the critical importance of self-custody for crypto assets, recommending hardware wallets over keeping funds on exchanges.
* China's Digital Yuan Advances: China's DCEP (Digital Currency Electronic Payment), or digital renminbi/yuan, is making significant strides. It’s undergoing pilot tests in Hong Kong and has been adopted by major e-commerce platforms like JD.com (China's equivalent of Amazon). This marks a substantial shift towards central bank-issued digital currencies, moving away from physical cash.
* NEST Protocol: Decentralized Oracle Solution: NEST is presented as a decentralized oracle solution, similar to Chainlink. It allows anyone to become an oracle by quoting prices and earning NEST tokens. To ensure data integrity and prevent dishonesty, users must stake assets, which can be challenged or "arbed out" if they provide incorrect prices, creating a robust, decentralized price-discovery mechanism.
* Opportunities for Free Crypto Airdrops: The presenter shares two current opportunities for "free money" via airdrops:
* Mirror Protocol (MIR): If you held UNI (Uniswap) tokens in your Ethereum wallet before a specific snapshot date, you might be eligible to claim free MIR. The presenter successfully claimed and sold about $300 worth of MIR from an old account.
* Badger Finance (BADGER): If you participated in certain DeFi activities, such as minting renBTC or engaging in SushiSwap governance, you might be able to claim free BADGER tokens. He encourages checking eligibility for these "magic" free coins.
* Staking Pools for Smaller ETH Amounts: For those who don't have the 32 ETH required to run a solo staking node, services like Staker (by Ankr) and Cream Finance offer staking pools, allowing users to stake smaller amounts of ETH 2.0. Cream even provides a bonus if you buy wrapped ETH 2.0 directly from the market, as some early stakers sell their staked tokens at a discount.

The video concludes with a thank you and a reminder to subscribe and check out the Boxmining podcast and newsletter for more crypto updates and insights.

Transcript

our essays were actually live for now today is not a good day for streaming if team turns out so anyways i had a huge amount of technical problems i well i was speaking like 10 minutes into my stream and i realized the stream's not working so yeah not a good day today but anyways guys welcome back to another episode of box mining here today's going to be a very casual discussion day today it is tuesday the 8th of december we're pretty deep into december already and today this episode is mostly ...