yes welcome back everybody to altcoin daily my name's austin in today's video i want to share with you the latest news involving ethereum involving altcoins involving the metaverse and much more like always check the timestamps down below in the video description hit the like button and before we get to ethereum let's quickly get an update on the market mover bitcoin bitcoin's poe multiple is showing a reversal that has previously marked all bear market bottoms every single one and just to define the pool multiple here is the equation right here the power multiple is calculated by dividing the daily issuance value of bitcoins in usd by the 365-day moving average of daily issuance value in other words what this means there are periods of time where the value of bitcoins being mined and entering the ecosystem is too great or too little relative to historical norms and how it can be used relative to you and me the understanding of these periods of time can be beneficial to the strategic bitcoin investor understanding if the amount of bitcoin coming into the ecosystem is too great or too little relative to historical demand so big definition let's look at the current metric and where we stand today it's not complicated for long-term investors on when to purchase bitcoin now it's a clear and respected indicator with an awesome track record four strong buy signals in the past 10 years and each signal led to massive gains 18 months later if you have patience sometimes it's that easy so here is that chart you can see we flashed this buy signal in 2012 at the end of 2015 at the end of 2018 looks like we also hit it briefly in the covet crash of 2020 and then again a couple weeks ago in 2022 now what this means to you as a bitcoin investor is historically when we flashed it was a great time to start dcang into bitcoin now doesn't mean we can't come back down weeks later and touch again everything is possible and whether or not this is marking the bottom again like we've seen historically to me this is saying at minimum we're probably about to see a bounce for the next several weeks potentially or maybe this is the ultimate bottom you let me know what you think what you're doing down below in the video comment section and while we're all commenting what's happening with ethereum ethereum flips bitcoin in the options market for the first time in history also the put call ratio has dipped to a yearly low indicating bullish momentum a lot to unpack there let's first define what open interest is open options trades or open interest refers to the number of options contracts both call and puts traded the nominal open interest is calculated by multiplying the number of contracts open with the going spot market price of the underlying asset so nominal open interest is the number of contracts multiplied by spot price if that's still a little confusing the news today is this ethereum's historic first lead over bitcoin in the options market comes as traders pile into ethereum calls aka bullish bets in the hopes that ethereum's impending merge would cause a 90 reduction in ethereum's issuance and bring a store value appeal to the cryptocurrency so traders are betting on ethereum into the merge and the data shows that in a direct quote from darabit cco while some may be uncertain of the outcome of the merge at darebit we see a lot of post merge options open interest being created overall put to call ratio is at a year low indicating bullish momentum so if you hold ethereum you'll love this here is that chart we can see bitcoin in green ethereum in black and for the first time in history traders are more bullish on ethereum into these next few months now i'm not a financial advisor i ultimately have no clue what the price of either asset will do tomorrow and neither do you make your own decisions but over the weekend we did drop two great interviews with ta expert one on bitcoin one on ethereum seek those out if you haven't already great analysis on price and next up what's happening in the metaverse well big news for partner of the channel seek is proud to welcome the city of miami gardens home of the super bowl tennis open formula one fifa tournament is being held there in 2026 plus many other international events to the seekland metaverse big for mass adoption i'll show you this in a second but just as a reminder on what seek is a metaverse the number one place for virtual concerts live sports a 360 vr streaming platform on the blockchain they have also platformed many notable artists like this very quickly hi this is lady gaga yo this is iggy marley catch my live performance and seek your banjo and you're watching us so short and sweet but very cool and of course the news today coming right from the mayor of miami gardens mayor rodney harris watch this i'm mayor rodney harris and welcome to the city of miami garden it's home the mayor goes on to share all the cool events happening in the city and of course all now coming to the seek metaverse as we discussed in our interview with founder mary spio seek is doing their land sale right now so seek this out for additional information on their land sale link down below seek this interview out and next up speaking of adoption cool news if you hold crypto punks jewelry brand tiffany co unveils 50 000 plus crypto punk necklaces the collection of diamond and crust and pendants is exclusively available to only crypto punk owners to purchase wow so much drip here is that official tweet from tiffany and co we're taking nfts to the next level exclusive to crypto punk holders they go on to share what this is and specifically the company is selling a max of 250 customized diamond encrusted necklaces for 30 ethereum each around 50 000 each necklace will include a combination of 30 diamonds and gemstones would you buy well for this specifically you have to buy there's nfts long with this you have to buy their nfts first and then each nft is redeemable for that physical necklace and tiffany will sell over 12 million dollars from that sale if they sell out standing to make even more profit from the resale royalties of the nfts anyway crazy time to be alive and next up big piece of news for you polygon hodlers muse to release their next album on polygon-based nft platform serenade the album specifically will be called the will of the people their ninth studio album and why this is significant is because the band has a massive fan base they won the nme award for best british band in 2007 2010 and 2011 mtv's europe music award for best world stage performance in 2019 and a grammy award for best rock album in 2011 and 2016.

So very cool that they're now coming to cryptocurrency in a direct quote from serenade ceo and again this is the platform on polygon muse has always had a great appetite for innovation and pushing the boundaries of how they deliver their music to fans so using this technology to elevate the experience of their new album made a lot of sense and then speaking to why polygon specifically all serenade nfts are minted on the polygon chain because we value its affordability and eco-friendliness on serenade we bear gas fees on behalf of all users artists and fans because we want to replicate the frictionless shopping experience today's customers are used to and polygon allows us to do this at scale so if you love polygon you love this let's keep moving and next piece of news involving crypto coin amp binance us 2d list amp after sec claim that the token is a security just as a reminder amp was the token involved in the overall flexa network a point of sale purchase platform with partnerships with whole foods amazon etc i believe the winklevi were invested in the flex network and amp was the token involved with it well now binance u.s will delist the amp token out of an abundance of caution after the u.s sec alleged amp was a security last month in its insider trading case against a former employee of coinbase this move will be effective the dealistic of amp will be effective on august 15th wow so platforms are becoming cautious and you may remember in that scc lawsuit the sec named nine different digital assets it claims claimed were securities of those nine only amp was listed on finance us and binance u.s said the trading of amp may resume in the future on its platform but noted that we are taking this step now until more clarity exists around the classification of amp i know some of you were invested in amp so i would love your thoughts down below and last but not least i want to give a big thank you to you and everybody who came out and supported us at our talk at nft expo verse in la this last weekend thanks again for nft experience for having us nice little pic of our panel that we talked about involving nfts and web3 hey also vitalik butrin started interacting with us on twitter this morning what a time to be alive anyway that is the video my name is austin like always see you tomorrow