Charles Hoskinson, Cardono's founder, makes some very big statements about Swee that he thinks it's a great project, and he bashes Solana. I'll give you the details, and coinbase is stepping in to back up Ripple in the SEC's appeal. I'll share all the details there as well. Let's get into it. Hey, everybody, welcome into the Thinking Crypto podcast. You're home for cryptocurrency and news and interviews. I'm your host,
Tony Edward. On your way in. Please hit that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks, let's quickly touch on the price of bitcoin, because right now we are still in the sideways,
boring chop. It is so annoying. A lot of us are waiting for bitcoin to break out so we can head to new all time highs and that liquidity can then flow down to the all coins and we have some sort of all season. Obviously, we are nowhere near the top in this bullmarket cycle, and remember bull markets can last for years, but in the micro we are waiting for the DXY to correct so that risk assets like bitcoin, crypto and the stock market and so forth
can continue to move higher. And as I was saying for a long time, the DXY could find some strength before it breaks below one hundred, and boy is it finding strength. Look at these green candles. I mean, it's incredible on the daily chart here, but make no mistake
about it, it will start to break downwards. And one analyst called out this current balancing, it is technically nothing but a debtcat balance potentially a two month one on the one month moving average fifty that in our opinion by Q two twenty twenty five, should have priced the bottom of the channel. Now, I don't fully agree with the timeline that it may take that long. We could be in for weeks, maybe even a month or more
for a sideways move for bitcoin. So be prepared that this thing is not going to move up any time soon. I hope I'm wrong, So I don't have a crystal ball, but based on the technicals here, in different factors, with the FED and raycuts and the FED coming out more hawkish and so forth, and job numbers coming in stronger than expected, the DXY could continue to hold some strength here, but make no mistake about it. In time, it will
break down. And I'm not talking years obviously, but you know we're talking weeks, possibly into over a month, So just be prepared to be patient and for more potential downside or just sideways chop. Now, one indicator I want to highlight here that is looking bullish and it does need time to play out is the mac D and that is when the blue line is crossing the orange. It's a bullish sign. So the blue line's making its
way up right now. If you go back and look at this on the weekly chart, it has told the story of when we're in a bullish time and when we were in a bearge time. So obviously running up in twenty twenty blue was above the orange, and even the runo from October twenty twenty three into April of this year where bitcoin hit the new all time high, it was over the orange. So this is just one indicator. I look at multiple indicators and different macro factors, but
it just shows that we got to be patient. And here Titan of Crypto highlight the following Bitcoin bounce from the Gaussian Channel. Bitcoin price has risen since retesting the Gauzian channel is showing signs of strength. So it's not going to happen tomorrow night. It's not gonna happen next week. We got to give it time, let these things play out.
But we're seeing that there's light at the end of the tunnel here, both with the price of bitcoin as well as the d X Y and one of the other indicators I've used to show you guys at the top is in is the bitcoin pie cycle top indicator. Nowhere close. Don't get me wrong. It's closer than it was obviously at the beginning of twenty twenty three, but we're nowhere close the cross of the one hundred and eleven day moving average and over the three hundred and
fifty day moving average. So look, there's tons of indicators out there. We want to look at all of them to see the full picture. We want to look at the macro factors, the fundamentals and so forth. So that's how I look at the market. You can't just look at charge. You get to look at macro factors, and I think looking at all these things help me to
see the full picture. Here's one other factor that I like to look at to see what whales are doing, and that is stable coin supply, the minting of stable coins. We continue to see a significant amount of USDC being minted by Circle. Just yesterday we had one hundred and fifty million USD minted. That's just in one day, and we've been seeing this over the past of three to
four weeks on a weekly basis. There's been hundreds of millions of dollars worth of USD stable coin being minted, and that liquidity, of course, is being put into the market. So we got to be patient and let these things play out. Now, guys, we've got some interesting news coming from Cardono founder Charles Hoskinson as he throws some shade on Solana and says Swie is better now. Swie is a layer one blockchain which has incredible performance. It's very
fast and heads up. I'll be interviewing the founder and the creator of this, Evan Chang, who's the co founder and CEO Missed and Labs, which works on swee. So that interview is coming. I'll be doing that this week, but let me sure the details around what Charles had to say. The Cardano founder mentioned in an expost that Swie network is what Solana should have been, indicating that the former is a better option than Solana, which ranks as a top Layer one blockchain. His statement came following
his revelation on how he had read about Swee. The Cardona founder mentioned that it was great to see George Dennis's Sweet's initial contributor work come to life. He added that they deserve great success in the space, so he literally tweeted this out. It's interesting that he said this, especially endorsing Swee. But this isn't the first time that Charles has shaded Solana, especially as Cardano versus Solana comparisons persist. Earlier this year, he suggested that Selana wasn't providing any
real network value despite boasting a good ecosystem. Now, this statement follows some recent statements from NSA intelligence contractor Edward Snowden, who said Solana is centralized. So we got some beef brewing here folks between Solana folks and Cardano and so forth. What's interesting. Ralph Palell retweeted Charles's tweet about Sweet and he said, to be fair, I didn't have this on my bingo card, but it's nice not to see tribalism in the space. We are all better together hashtag SWEE
and Ada. Now could Cardana work with SWEE in some way? Maybe I'll try to get some details from Evan Chang when I interview him this week. But I don't personally hold a sweet token. I have been looking at it. I've been trying to fight off the fomo feelings that have been getting to jump into this token. It looks like it can run, but look, you can't invest in everything, you can catch everything. I have my portfolio set in my up since the bear market of twenty twenty two,
so I'm happy about that. And I'm hoping for another major bull run as we head into twenty twenty five, which some would call the fifth wave, and to make some money there. But you know, if I have some dry powder and if there's a dip on suite, I may grab some, But right now I don't. I don't know if any of you hold, but let me know.
And like I said, I am going to be interviewing Evan this week, and SWEE has been running, guys, it's been very strong, has been one of those all coins that have been leading the bullmarket in a way, if you want to say that, you know there's a lot of all coins haven't broken out, haven't retraced yet, so sweet has been getting a lot of liquidity. Now. A place where you can buy Swee is on Uphold, which is a great crypto platform I've been using since twenty eighteen.
They have three hundred plus cryptocurrencies, Bitcoin, all the top all coins, folks. They are fully reserved. They don't commingle or lend out your crypto assets. You can review their transparency reports. I've interviewed this CEO, CFO and much more so. This is a reliable platform. They also have a really great new product called US the Interest Accounts, where you can earn up to four point nine percent APY. You can put your dry powder or your crypto profits in there.
I'm currently doing this and there's no lock ups, there's no terms, there's no monthly fees or subscriptions, and its FDIC insured just like a bank. So if you want to learn more about Uphold, check out the link in the description. Now, guys, Coinbase is jumping into back ripple in the SEC appeal. So Coinbase seeks early appeal in
SEC case after Agency appeals ripple ruling. So Coinbase has asked the judge in its SEC lawsuit to approve an interlocatory appeal or an appeal granted before the case is decided. After the SEC appeal the ruling in its separate case against Ripple, Coinbase seeks to ensure the Second Circuit has as complete a picture as possible by presenting its case for appeal around the same time as the SEC's appeal in the Ripple case. So we've seen the SEC be hypocrites.
Right in one case they'll argue something and then the other case they'll argue something else, so they don't stand on any foundation or abiding by the law. We've seen them lie to the courts. We saw in the recent Binance Court document where they put into footer, oh we apologize, we're using crypto acid securities, we cause confusion and all that, and then while in another case they're saying crypto acid securities,
crypto acid securities right, clear hypocrisy, lots of lying. But look, there's nothing new here that we've been talking about this for years. So Coinbase may have gotten a bit of a gotcha moment here where they're going to use this SEC hypocrisy to say, hey, look see what they're doing over here. So this could put the SEC in a buying but let's see where it goes. Eleanor Tarata. Fox
Business highlights some more details here. Coinbase cites the SEC's Ripple appeal in a new letter to Urge Judge Follia to grant its own request for interlocatory appeal. Coinbase notes that the SEC's appeal underscores the ambiguity surrounding to how he test his application to secondary market sales, further emphasizing the need for a court to clarify it at a higher level. Now, Attorney James Murphy metlaw Man weid In.
He said, another smart move by Coinbase here, as it's astounding that Judge Follia never ruled on Coinbase's original motion for interlocatory appeal file back in April. Those motions are normally ruled on very quickly. The SEC's appeal in Ripple's case just strengthened Coinbase's argument. So let's see where this goes. And I'm hoping some other industry players jump into back Ripple as well, because many of the industry folks who have been fighting the SEC have been using the Ripple
ruling from Judge Taurus. So for years I've been saying, you know, united, we stand, Divided, we fall. We are all facing the common enemy, even if we're competitors. Exchanges are competitors, but they should come together, crack in Coinbase and so forth, Robinhood, Uni Swamp and share their legal knowledge and pool their resources and go after the sec because the Ganser is going after everything. He doesn't care. His job is to destroy these crypto startups, not destroy crypto,
as I've been saying. There's some people who say destroy crypto. I don't think so, because what's happening in parallel to all these things. Black Rock is tokenizing, launching ETFs, custodying reserves for circles us, the stable coin you got Franklin Templeton, you got Fidelity, you got arc, you have all these big players, right. So it's not to kill cryptocryptos here
to stay, make no mistake about it. It's to get rid of the startups, the guys who front ran Jamie Diamond and the banks and are making tons of money. Coinbase going public, they're making billions of dollars in revenue. I've often told you, guys, do you think the folks at Goldman Sachs and JP Morgan are happy capital is leaving investment accounts or is not going to their investment accounts, but it's going to crypto hedge funds and crypto projects.
They don't like that because they can even touch it yet right due to regulations. Remember for years they controlled the investment market and they were gatekeeping this and you have to be an accredited investor. Now anybody can access a token around the globe. They hate that. That's a big disruption to Wall Street if you think about it. Now. Obviously with them launching ETFs, they can somewhat catch up, but in order to catch up, you got to get rid of these smaller guys for these new players on
the block. So that's the game that's happening here, and it's not exclusive to crypto, but it's very prominent in crypto because you have the disruption of money, of investing, of finance, and so forth. It's one of the biggest disruptions in history, folks. So this is why you see Gencer and Elizabeth Warren and a lot of these agencies going crazy. They're going ham in the crypto industry because the big boys, Jamie Diamond and all of them are
getting disrupted and they've made the phone calls. If you don't believe that that's not a conspiracy theory, I verify that with people in DC and so forth. But that is not some far fetch idea. The point is that they make campaign donations to the members of Congress and the likes of Elizabeth Warren. There's a revolving door with Wall Street and the government. Let's look against her. He's
a Goldman guy, right. Look at all the people throughout history that have gone from Wall Street to the government and vice versa. It's pretty clear today what's happening here. Once again, look at the two things happening in parallel. But one of the great things guys at least living here in the United States, checks and balances and the courts are coming in big time, and the SEC is
taking some big losses. So we hope that these cases, the ripple and coinbaits can win at least win the lion's share of the lawsuits so that the SEC continues to take hits. And of course we can hope that Congress can get some legislation through by the end of the year, and obviously a president has to sign that into place. But if we can at least get it out of the Senate. That's a big hurdle to get over over it can help resolve a lot of these things. Because the Fit twenty one bill made it out of
the House with Democrat support. With the Republicans, we got to get it through the Senate, and Chuck Schumer, big time Democrat, and some other folks in the Senate are talking about getting this through. So fingers crossed, guys, that would be great if we can get it through the Senate by the end of the year, and then a new president comes in, you know, in January, and hopefully they can get by Q one that thing is signed into law, guys, and it can align with the bull
market continuing into twenty twenty five. So I'm optimistic because things are moving faster and expected. Crypto is the biggest spender in this election, spending over two hundred million dollars. Many Democrats are waking up and turning their banks on Elizabeth Warren and Gary Genser, so we can only hope and pray. Guys. Let me know what you think about this news. Leave your thoughts and comments below, hit the thumbs up button. Don't forget to sign up for my
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