Crypto update

Sharing what I'm seeing. Welcoming others insight so we all have a clearer picture.

Past couple days ADA reached a new ATH achieving never before seen funding rates of >0.333.... for context if price doesnt move and you short this - you get as much interest in a day here as you would in a year in a bank. Obviously this didn't last long.

ADA with no smart contract and no working product having market cap of almost 80 billion is prob what moved the market up. All in speculation of its future smart contract launch.

SOL number 10 market cap also achieved another ath yesterday.

Despite most altcoins pumping more than BTC, ETH actually pumped less than BTC. Could be "fans of smart contracts" are redistributing to ADA / SOL.

BTC reached a new local high, while ethereum did not. I do like this as it shows people are taking profit at this region.

Overall Price holding this region is not horrible for bears. Most of the crypto price action is built on momentum, the longer price stays at this level the less likely it will pump.

I keep saying it looks like 5/5/18 on the chart right now. Zooming out to the daily. The exponential rise in April on BTC and May on ETH resembles the exponential rise for BTC and ETH in 2017/18. The current rise in price from late July to now resembles a logarithmic growth - i.e its losing momentom and flattening, This does resemble the run up to 5/5/18 as opposed to an exponential growth typically seen prior to an ATH.

Ethereum London Hard fork 2 weeks post event

Saw another user posted average daily ETH produced now (including the burn) is 15,214 vs before was 16,741 .

So around 9% reduction in daily production.

At the current price (in theory) 54 MILLION (16,741x3225) is needed to be feed in to Ethereum EVERY day to keep the price stable before eip 1559. With eip 1559 49 MILLION is still needed EVERY FUCKING day to be put into ethereum to keep the price at 3225.

And dont forget the amount of money that needs to go in to bitcoin daily to keep its price at 49000 ..... 900x49000... another 44.1 million DAILY.

And dont forget every other scammer is producing another coin that also needs to be feed.... you get the idea.

Seems the general community agrees the vast vast majority of people that invests in crypto are dumb money and have no idea what they are doing. What baffles me is most of them accept bitcoin's price is artificially pumped by tether. If you are talking about anything other than crypto... if you have an unregulated entity that just prints 1 billion every other week to pump the price, you'll be an idiot not to sell/short the asset.

Saying the entire crypto market is a bubble is an understatement.

Currently Shorting ETH - > Target = Sub 2k.