So while the crypto markets continue to struggle, some of the leading nations around the world right now are preparing for mass crypto regulation. Now, in today's video we'll discuss the future of what those regulations are looking like and we'll also discuss some of the other crypto major headlines within the news now i know a lot of the sentiment is fairly poor right now and i'll be sharing with you guys. My thoughts in the overall market towards the end of the video as well now, if you guys, are liking these daily market updates, don't forget to like this video down below and subscribe if you haven't done so already with that being said, let's hop into the computer And see what is going on in the market for today, so the global crypto market cap is sitting at 1.26 trillion dollars. We have bitcoin still fighting and struggling to break above the 30 000 resistance level.

Currently, at the time of filming this video bitcoin is currently trading just a little bit above the 29 000 level and right now, it's under the 920 and 50 ema at the time of research. Now, although bitcoin's 4-hour chart has been looking weak since it has broke below the 50 ema last night, it has dropped over five percent in just a couple of hours. Now, in yesterday's video, if you guys have been watching these updates, we mentioned that bitcoin couldn't hold the four hour 50 ema and broke below that support level. It would drop under all the emas and re-test the support level of 28 600.

Now the 28 600 level would have been that orange line, and that is exactly what has happened within the past 24 hours and fortunately enough. It has now since been able to hold those support levels. Currently, bitcoin is now forming a wedge pattern on the four-hour chart and we're gon na have to decide which direction it will break out of. If the wedge does get broken downwards, we could see bitcoin retest this market crash low of around 26 000.

Once again, however, if the wedge does decide to break out going upward, this is going to be a bullish signal and i would expect the price to test the 34 000 critical resistance level as well. Now it's crazy about yesterday's flash crash is looking at how fast bitcoin can drop once it holds a support level. Looking at the five-minute chart from last night, we can see that bitcoin once again fell below 30 000 and when this happened it dropped over 1 000.. In 45 minutes this resulted in about nine candlesticks on the five-minute chart.

Now this aggressive price action occurs because many retail and institutional traders will set stop-loss orders around key resistance levels so that, once the price is hit, we usually experience a quick flush or rebound. Now most major all coins have followed bitcoin's decline and are trading lower. If we take a look at the heat map from this morning, you'll notice that we've been seeing red all across the board now, even today, if we take a look at most of the top, all coins, ethereum is still under 2 000, and most of them are Still trading rather sideways, taking a look at the crypto fear and greed index. We are sitting with extreme fear within the market sitting at a 12 on the barometer.

Now the overall crypto market downturn has not only hurt retail investor sentiment, but it's also affected the d5 space tremendously as well. According to d5 llama, the total value locked across various chains has declined to levels last seen in june of 2021.. Currently, we have 111 billion dollars locked and that's down about 50 since the beginning of the year. Now, for anyone who doesn't know the importance of tvl pretty much, what you need to know is that the total value locked shows how much money is locked within these d5 protocols and gives us a clear view of the overall health for the d5 market.

This is oftentimes more than just money sitting in these markets, but it's also an indicator on the health and the longevity of what defy is looking like now. This also is a defy adoption indicator, and it also shows us that the more value that is locked, the more active the d5 protocol is and thus the more yield it may generate for participants now. On the contrary, if we saw a lower tvl which we're experiencing now, this would mean lower activity and potential lower gains for anyone using any type of d5 platform. Now, just real quick, we have tezos up about five percent stacks up: three percent bitcoin sv up three percent.

If we take a look at the biggest losers for today, bitcoin gold is having a little bit of a pullback. Since it went up about 25 and even on the charts we do have apecoin sitting at seven dollars and 35 cents and believe it or not. Through all of this, i do believe apecoin is still holding a bit of support now. I know it seems like another random day within the crypto markets.

Things don't seem to be moving forward, but we have been getting some pretty breaking headlines that i wanted to cover. In today's episode, which we have coming up here so coinbase, this stock, also known as coin, has gone ahead and entered the fortune 500, which is a ranking of the us biggest companies by revenue becoming the first cryptocurrency company to go ahead and join the list. Now this nasdaq listed crypto exchange posted a revenue of over 7.8 billion dollars and 3.6 billion dollars of that was profit for the year of 2021.. Now, in the fiscal year of 2021, coinbase also logged a 1024 increase in profits and a 513 increase in revenue compared to their 2020 indicators.

Now this would be impressive for any company, but it's also even more considering that coinbase just entered the fortune 500. The first possible opportunity, since their nasdaq listing on april 2021., now the exchange was also singled out by fortune editor-in-chief, alisson chantel, as one of the several pandemic winners that thrived under the freakish circumstances of kovid and flourished. After that now, this story is just a week. After coin shares hit their all-time low of 40 down nearly 90 from their all-time highs of back in november 2021..

Also, with all this news coming out, let's not forget that coinbase also reported a negative quarter. One 2022, with losses exceeding 400 million dollars and leading many people to believe that the exchange was at risk of bankruptcy. Now, on top of that, they also recently paused new, hiring and slashed cloud spending on amazon web services, along with other cost-cutting measures following its weak earning reports and its overall crypto market crash. In the past few weeks, kathy wood went ahead and did the unthinkable, but she went ahead and bought and purchased over 29 million dollars worth of coin shares and fred esram.

The co-founder of coinbase global took this opportunity to increase his coin holdings by over 1 million shares worth about 75 million dollars as well. Now, although i believe it is extremely good news for us to see any type of crypto project actually getting listed as a fortune 500, which is good for the space, i do want to say that there are been a lot of radical movements happening and right now, When we say people are buying the dip, this is just an example of how large institutions are able to do that. If we have players in the space who aren't yet available in being able to buy up cryptocurrency, because it's still seen as such a volatile asset, which a lot of these banking institutions classify it as what they would do, is then buy the proceeds, buy the holdings Or the assets that are able to still go up in value once we see a revival in the market, i do believe that when we see players like this buying up the dip purchasing millions of dollars if they are doing it, the question is: why aren't we Anytime, i see a large institution going in. I know that they aren't just doing this for a quick flip or a swing trade.

These are institutions that are trying to build their positions up for the next 5 10 15 years. If you have the mindset of going long, if you have the intentionality of making sure you can hold through these dips, no matter how long the supposed bear market would last, i believe you will still come out on top at the end of the day. Now, in terms of the next headline, a video game, retailer gamestop announced on monday or yesterday, that it had launched a crypto and non-fungible token wallet as it prepares for a push into the world of digital assets. So this wallet is known to be a self-custodial ethereum.

Based wallet very similar to metamask and it's gon na allow gamers and others to store, send and receive and use cryptocurrencies and nfts across many different decentralized apps. Now this wallet extension can actually be downloaded right now from the chrome web store, and it also enables transactions on the gamestop nft marketplace. Now. This is not yet launched, but it will be expected to launch in the second quarter of the company's fiscal year beginning in july.

Now i will note, even after the largest crypto crash, that we've experienced ethereum remains expensive for a lot of traders to use and to combat this gamestop has decided to leverage lupring's zk roll ups technology as ethereum's layer, 2 scaling protocol for cheaper and faster transactions. So, if you've never heard of a zk roll up, rollups are pretty much just a scaling solution that involves rolling up. Hence the name collections of transactions and the final rolled up transaction is presented to the ethereum blockchain as one single transaction. The benefits of this is that rollups cut the cost of an ethereum transaction, so you wouldn't be paying those astronomically high gas fees, and on top of that, because they batch up the transactions and it's split among users.

You also have things like the speed getting sped up now. I went ahead and looked through the privacy policy and they actually state that the wallet, although it is non-custodial, they will track certain user information like your ip address. Your gps coordinates network activity and even your keystrokes, now, first of all guys, i know anytime, we get news like this. It may not be exciting at first, but you have to realize these are triple a titles.

These are companies and organizations that have been around for a while i've known gamestop to be one of the og places. It was almost like blockbuster, but it never went out of business uh like they did, and the fact that they right now are still making the adjustments to stay relevant and then moving over into web3 and even making their own nft platform. I think this is so bullish within the space, because, even though crypto right now, everything's boring everything's going south, we are having all of these companies doubling down and continuing to invest into making and building the foundation of what we believe is going to come next, which Is going to be a fully self-serviced nft marketplace, it's going to be another web 3 environment, and it's also going to be all these play to earn games that are going to be very, very popular in the future. I also believe that this is a step in the right direction, for anyone who really never had the chance to get involved into cryptocurrency now, if they had any type of ties with a ps5 and xbox some type of gaming device, they can now have that established Connection coming from an entity like gamestop now in terms of our next headline, we actually got some mass worldwide crypto regulation coming underway, and this happened since tara luna saw a complete total implosion for the past few weeks, which also saw tara luna dropping down from 62.

To its current point, zero zero, whatever sense it's at right now, there are now many several countries around the world taking notice and working quicker than ever to begin the mass crypto regulation so brian. What countries are this who's actually moving forward? Well, we mentioned this during the entire week when the lunar collapse is actually happening, that the result of it would lead to more regulation underway now, to name a few. The us congress introduced record number of crypto related bills in the past few months, and the us congress has also introduced over 80 new bills for consideration related to the cryptocurrency industry. Now, on top of that, bloomberg reported on friday that the uk's financial regulator and finance ministry - that's treasury, will all investigate the collapse of the terra ecosystems crypto tokens, while developing new laws for crypto assets.

We also got india in the headlines where the central bank of india is also making a negative stance on cryptocurrency, and they are also warning crypto as an investment in india. Now, last but not least, we also have south korean regulators introducing a new framework to protect cryptocurrency investors what's happening. There is that lawmakers are pushing for measures that could help rectify some slippery areas around crypto transactions that aim to eliminate crypto, wash trading insider trading and also pump and dump setups. South korea is not new to any type of regulation within the crypto space before in the past they had the capital markets act that governed its cryptocurrency industry, but it looks like right now: their enforcement may be even stricter once the new regulations become effective.

So the main question out of all this is: what do these regulations mean for us? Is this still a good thing? Is it a bad thing? Could this push us in a direction where maybe the market starts to pick up too? Well, i will say this: crypto regulation has always been a pretty controversial topic, and it really just depends on what the regulation is, what the country is and how it affects the people. If we take a look at india for an example, india has always been more outspoken against crypto than other nations and they've been geared more towards making crypto investments expensive, challenging and things like that. When it comes to regulation, it would be more bad news for the crypto community, but they are also considered one of the largest economies in the world, and if they don't pull this off, it could also just show that they are leading a foot that many other Countries might not follow simply put if more regulations means more stability in a notoriously volatile crypto market, then that would protect investors and i believe, that's still a great thing at the end of the day. Now the main arguments on both sides of this is that pro-regulation enthusiasts claim that new regulation also has the potential to protect long-term investors and prevent fraudulent activity within the crypto ecosystem.

On top of that, this could also provide clear guidance to allow companies to innovate and continue in the crypto economy. Now, on the contrary, if you are for anti-regulation, the claim here is that it would slow down innovation and it would go against cryptocurrencies feature of being decentralized. Now you guys, let me know down below how you all feel about crypto regulation. I still believe long term.

This is exactly what we need. I know. Tara luna might have been the signal for the next crypto crash, but i like to think things a bit more optimistically and imagine well if tara luna caused a crypto market crash. But then we got better regulations and we got more banks investing in and buying up that significant dip.

Could they instead be the next signal of the market crash, but be the rebirth or the rise of the ashes of the phoenix a little cheesy? I know, but i always try to imagine things on the more optimistic side and i do think with all the negativity happening around the world in the bear market and the recession talks of doom and gloom. It is never out of the possibility that, when things get low enough, we at least get some type of relief rally, all right so to wrap this video up, don't forget to check out the links down below in the description and, if you're, trying to score a Free 100, using my link down below check it out with ftx. So ftx is one of the largest cryptocurrency exchanges in the world and you can actually trade crypto on ftx, with up to 85 lower fees than their top competitors. No fixed minimum fees, no ach transaction fees and you can set up reoccurring, buys directly within the app make sure to head down below, like i said, use code young to sign up and you can earn up to a hundred dollars just by trading with your account On top of that, guys, if you have not done so already, don't forget to follow me over on twitter and on instagram when you do follow me, please watch out for impersonators and scammers as well now, on top of that, if you do want to check out Our exclusive discord group, where you can get access to our buy and sell alerts technical analysis from some of the best advisors as well as access to a community of other investors, don't forget to check out the link to our patreon down below as well.

Now we are at the end of our video and we always do a secret close out word and today's closeout word for this. Video is going to be sunglasses, comment down below sunglasses if y'all made it till the end. Like the usual, i appreciate you guys have an amazing day and i'll see y'all soon. Peace.