Sudokuan released the proposal to fork tara luna after last week's implosion, and the crypto community has now well come up with a new and improved proposal of taking tara luna back into their own hands. So do kwan went ahead and got summoned to the national assembly in south korea with regards to all the craziness that has happened over the past few weeks in today's video we'll cover that latest news uncover some insightful data on metrics on the world's largest cryptocurrency bitcoin. As well as give you some updates on major headlines happening in the market right now, like always, if you are enjoying these daily market updates, don't forget to like this video and subscribe to the channel, 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, all right, so the us markets opened up slightly in the green this morning with the nasdaq up one percent, the dow jones up two percent and 98 out of 100 of the top all Coins by market cap are actually within the green in the past 24 hours. The time of filming this video taking a look at bitcoin we're seeing about a 1.67 growth or bitcoin reclaiming that 30 000 level.

Once again, now an article came out yesterday from coindesk also showing that digital asset funds last week netted their highest inflows since late 2021, as investors were panic, buying up the market, implosion caused by tara luna james butterfield, head of research at coinshares also stated. This is going to be a strong signal that investors saw the recent ust stablecoin d-peg and its associated broader sell-off as a buying opportunity. Bitcoin focus funds were the clear winners netting 299 million dollars in inflows, which is the highest weekly inflow since the last week of october 2021.. Now what this data suggests here is that investors were flocking to the relative safety of the largest digital asset bitcoin.

Now this data here also suggests that bitcoin may have found its bottom at the 25 000 level. This is where a lot of institutional and retail investors had found bitcoin to be undervalued at that price level, so if they saw bitcoin dipping down to anywhere near 25 000, this is a level for them to buy up the opportunity to continue going long. Now we do take a look at some additional data by the way we got an april report coming from genesis and they claim that longer term accumulation has actually been continuing. It seems like, even though the market sentiment is completely trashed right now, even with the crypto fear and greed index in levels that we have not seen at this low in a while right now, the data is actually showing that bitcoin long-term holder net positions are continuing To increase where investors are finding this to be much more bullish, despite the negative price action that we've been experiencing over the past few weeks now, additionally, the amount of bitcoin that has not moved in over a year has also reached an all-time high in april, breaking Through 64 of total bitcoin in circulation, what all this means is the strong accumulation points to a lower supply available to traders and new market entrants and hints at what could be a sharp move up? Where sentiment eventually turns, while it is likely, some long-term holders would sell into market strength.

The accumulation behavior seen in the recent weeks environment suggests a level of support where bitcoin could weaken even further. Taking a look at this glass node data chart will also notice that the percentage or otherwise that orange line of supply in the last year active, has continued to go up, while the price of the asset continues to stabilize to break all this down. Just in layman terms, despite all the worldwide macroeconomic conditions, the data provided still looks very bullish, long term for bitcoin, despite the short-term volatility that we've been experiencing, investors continue to buy on bitcoin and accumulate this more so this year than we have seen before. In the past, we take a look at the e-liquid supply chain with the seven-day moving average.

The 30-day net change in bitcoin's e-liquid supply, defined as the amount of bitcoin held in addresses that spend less than 25 of their incoming bitcoin, was at year-to-date highs in april. Suggesting that people right now aren't getting rid of their bitcoin and instead they're, holding or hodling, and the prices continue to go up while the market changes. If we do see an upside or even further momentum, it could propel us to an even aggressive higher upside swing. Now, on the off chance, we do see that momentum changing very quick.

This is where anyone who has been accumulating and buying up the dips will be seeing massive amounts of opportunity getting rewarded during these times now going into the top winners. For today we have kusama up about 11 and then for the rest of the market. We have ldo of nine percent litecoin up seven percent tara ust, which is not 11 cents, keep in mind guys. This is the stable coin.

That's been getting all the action. This should be somewhere close to a dollar. It still is nowhere near that, and even today, where we zoom in on the charts in the last seven days, it looks like it's completely gone down and it's hard to even see any chance of revival real quick. I do want to give an update on tara luna, but before i do that just quickly, the crypto fear and greed index for today is actually showing pretty low numbers by refreshing.

The screen here we're seeing an eight on the scale which are single digit numbers that we have not seen in a very long time now. If we also take a look into d5 llama, which is something we haven't done in a while, the tvl otherwise known as the total value locked amongst most of the other crypto projects has gone down a significant amount. So you'll notice that we haven't even seen these levels since about the time of june to july, where right now, a lot of this money has left just because tara luna has gone down as well. The impact of this is astronomical and we are gon na start.

Seeing the effects of tara luna's crash playing into the market, and even though right now things still seem pretty negative in terms of the sentiment, i do believe the long lasting effects of tara luna's crash is going to get amplified over the next few months now. This could prove to be a buying opportunity for some investors and for others. It could just be another moment where you continue to wait and see what develops. Also, i do want to mention that any time we have certain all coins going down or whether it's an nft project that gets robbed and disappears when it comes to basic macroeconomic principles where one entity, one project or one asset, goes away.

We usually have another project going ahead and replacing the efforts of what they try to do. If you keep that concept and principle in mind, even though it sucks having an asset getting pretty much rugged at this point, we are going to see other opportunities of crypto to take that spot of what tara luna was going to do, and i believe this is Going to have a huge amount of opportunity for anyone looking to find and maximize their ability to make money within these markets. Now going into the coverage for the dokwan and luna update in yesterday's video, we did cover dokuan's latest proposal in forking the blockchain after its collapse last week and according to a preliminary poll, the vast majority of the terror community is completely against the proposal. So this was known to be the revival plan v2 and as of tuesday morning, 90 of more than 2 000 votes in the online poll rejected the fork.

Now this ballot is open to anyone who, logs into the tariff forum whether or not they do hold luna with the network's governance. Token now i will say, while this poll isn't an official governance vote, it still gives us an indicator that many people are still pissed about. What's happened with luna and they're, not happy and they're, not even interested in a fork being a viable option. Now that being said, it is still possible that terraform, labs and large luna holders could push a governance vote for this fork to still happen, but according to what we're seeing now, many people are not in favor for it and i don't see it going through now.

It's not really just the whole entire crypto community that has pitchforks looking towards dokwan, but it's even other leaders within the space finance ceo cz has been really critical of dokwan and the terror team during the entire ust crisis. He even quotes here. This won't work. Forking does not give the new fork any value, and that's wishful thinking now, just yesterday, if you didn't hear about this news, dokuan the project leader of tara luna actually had his home invaded, which was alleged to be a luna investor who lost millions of dollars.

Now, although dokwan was not home at the time of the invasion, his spouse went ahead and filed a report requesting immediate police protection after the luna investor visited their residence now after being caught by the police, the investor went ahead and just talked about how much money He lost it was between two to three billion korean won, which equates to about 2.3 million dollars. Now the apprehended investor also claims to have invaded dokwan's home to urge quant to take full responsibility for tara's downfall and to make a public apology to over 200 000 luna investors who have lost their entire life savings. Now on this channel, i'm not going to condone anyone, you know breaking and entering and making threats, or you know just violating people's personal space, but i will say i definitely understand where this investor is coming from and i can definitely see why many people are acting Out of emotion when they have lost millions upon millions of dollars, my heart still goes out to these individuals and, although i'm not in favor for anyone breaking the law, it is truly unfortunate to see how do kwan's been responding to all of the situation unfolding and To see how neglected his terror lunatics community has felt now i will say: there's been a lot of irony uh throughout the past week, where a lot of people even brought up the definition of lunatics, which is what tara luna's founder addresses his community by which is Defined by google, literally by stating a mentally ill person, you know they have other words like maniac fool, idiot, imbecile, mad woman psychopath now i will say this: while do quan is currently being targeted by his own lunatic community. There are still larger fish in the sea that he really should be worried about.

So doe kwon went ahead and got called in to the hearing for the collapse of the stablecoin young at tuesday's national assembly session, said investors have been damaged by the debacle and urged other lawmakers to call support for hearing now. Additionally, if you didn't know, south korea has its own version of the sec. This is called the fsc or south korea's financial services commission, and also they have the fss, which is the financial supervisor service and they all went ahead and launched an emergency inspection into local crypto exchanges. Now the latest events surrounding terra may result in a quicker establishment for the south korea digital asset basic act, which is reported to be approved in 2023, where this legislation is expected to include provisions for a 20 tax on digital asset and insurance for users within korea.

Now i think it would be great if the south korean government could get some answers from him just because a lot of people are looking towards twitter. He's not that active on twitter right now to see his statements of what's going on, and it would just be nice to have any type of justice getting performed right now when we have millions of investors who have lost thousands and thousands of dollars. Now, only time will tell what we're going to see in terms of crypto regulations, but, like i mentioned in the very beginning of last week, this whole event that has taken place is going to line up the dominoes to fall over and to create the next amount Of regulations not just happening within korea, but for the overall global, broader market now in terms of the next headline, elon musk also explained why his twitter acquisition right now is on hold a lot of people found value in this headline where elon musk was buying up Twitter, because he has a lot of lot of stake within doge, whether it's literal he has a lot of bags or it's just his passion for that project. Over the past weekend on friday, elon musk announced that the twitter deal was temporarily on hold because he's pending details supporting calculations that there was actually about five percent of the twitter accounts being spam or fake.

Now, i'm not surprised by the amount of that there are so many fake useless accounts over on twitter and if he is still able to find value in this acquisition, i think it's gon na be good news, but, right now it seems like there's a hold on That elon musk on saturday also tweeted that twitter's legal team accused him of violating an nda by revealing that the sample size of the social media's platform checks on automated users was just a hundred accounts. Now, if news comes out that the deal is completely off, then we could see twitter and dogecoin dumping, so twitter stock price going down and dogecoin going down even more. This is in contrast to a lot of investors who are anticipating more crypto usage on the twitter platform, with elon musk in charge. For those who may have forgotten dogecoin had a nice little pump from the elon musk twitter acquisition catalyst and i would think there would be an inverse effect if the downside of this deal actually fell through now.

In terms of more global, broader headlines, we actually got el salvador's president announcing a meeting among 44 countries to discuss the revolutionary cryptocurrency that we all know as bitcoin. So just yesterday, naib buculi went ahead and got 32 central banks and 12 financial authorities to meet in el salvador to discuss the financial inclusion on the digital economy, banking, the unbanked and utilizing bitcoin as the rollout for the beneficial use of all the other countries. Now, although the main agenda of the meeting is still really unknown, it is speculated that these countries would discuss how to use bitcoin and how it can affect the banking industry and improve our way of life. Now.

I think this is still really good news for the entire broader crypto markets, just because everything starts with one thing, and that is always a conversation before we get regulation or mass adoption. It all starts with having people come together. Talk about the possibilities even talk about the downsides, and then that's when we see a lot of these financial acts getting placed and making further moves. El salvador over the past few years has now proven to be a pretty remarkable leader within the crypto world, especially within developing nations, where now they're trying to bring other countries together, they see the vision of bitcoin being a long-term beneficial asset to not just currency that You and i could use as peer-to-peer why bitcoin was created, but also something that a lot of these countries can elevate and use to create more prosperity.

If the president and leader of an entire country sees the vision, the question is, do you do you guys also see the benefits that crypto is continuing to evolve and you know for me the obvious answer is yes, but it's all about making sure that the broader Market retail investors like you and i we continue to stay educated and also see the vision that many of these other countries have now for anyone. Who's been out of the loop there's also been a conference called permissionless that has been going on. I actually wanted to go to permissionless this year. We have permission list, we have consensus, which is hosted by coindesk, and then we have nft.new york, city uh.

Usually the crypto industry, for anyone who doesn't know has a ton of these events, where you can take a look into what they're announcing for new plans right now with permissionless, which is going on in florida. We actually got word that robin hood is to build a web 3 wallet in bit to capture the nft hype as well. Now robin hood's been in the news. A lot lately and even the ftx ceo, sam bankman freed, went ahead and bought 7.6 stake in robinhood.

Just last week that was worth to be around 648 million dollars, and we mentioned this before in our update, but i got to say now: there are companies right now that are expanding into different markets, so we're seeing crypto exchanges now buying equity within stocks. It's crazy! How things change, because it would have made more sense just a few years back if robin hood and went and had and bought. You know like coinbase or had another smaller crypto exchange, but now we're really seeing the flow of where all this money is going and right now from the data that we're seeing it looks like stock markets are getting less and less powerful. These exchanges are maybe even losing more money, like the reports that we saw with robinhood and crypto exchanges continue to grow.

Could this be pointing at another bullish market within at least some point this year, with all these partnerships still developing behind the scenes? I know that robin hood was once the leader and the king within the space in allowing retail investors to invest as a beginner, and they saw a huge success in the past few years. But when they rolled out their crypto trading platform, they haven't been doing as great with robinhood trying to build a web 3 wallet with sam bankman freed having a huge stake in it. I do expect to see crypto becoming even more mainstream and more adaptable for a lot of these beginner users. Let's not forget that sam bankman freed, who is in charge of ftx, also has a long-term vision in being able to take over the entire finance sector and not even just crypto.

I hope an acquisition like this opens your eyes, because we are seeing a lot of bigger players right now, doubling down their bets and making all of these buys when everyone seems to be afraid. This comes down to the ideology that you shouldn't be falling prey to a lot of the fear that we have in the market when the market is fearful. This is when you want to consider buying averaging up those dips and for anyone who's held out over the past few years. You may have missed out on millions of dollars being made, but now you have another opportunity to enter where in the next two three five ten years, you'll be thanking your previous self you'll be like okay.

I made a good decision back then, even though it didn't seem like it, because you're buying out of time when prices continue to go down now, speaking of ftx, if you guys are looking to get started, i did partner up with them. They are one of our sponsors for this channel and i got you a special link use the link down below use code jung when you sign up. If you live in the us and you deposit, a thousand dollars into their app, you can find yourself earning a hundred dollars just for signing up using my link down below. If you didn't know, ftx is also one of the largest cryptocurrency exchanges with up to 85 lower fees than their top competitors.

No fixed minimum fees, no ach transaction fees, and you can also set up reoccurring, buys directly within the app making dollar cost average very easy. Now to wrap this video up, if you did enjoy today's market update, don't forget to drop a like down below and check out the links down below in the description as well, where you can also follow me on twitter and on instagram. Just a heads up. If you do follow me, there uh you're gon na get a lot of impersonators and scammers.

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You on twitter, facebook linkedin, just whatever all the social media is, so please be careful for the scammers as well. On top of that, i have an exclusive discord group where you can get buy, sell alerts, technical analysis from some of our best advisors as well as access to a community of other investors. If you guys want to get started, don't forget to check out the link down below in the description for the patreon as well. Now one more thing to close this video out: we usually do a secret code word and for today's video we're going to be doing tornado because there was like a little tornado watch yesterday in maryland, but it never happened and the weather was actually really nice yesterday.

So the weather's - i don't know where you guys, are at i'll - tell you this in the dc area, the weather's been whack comment down below tornado, if you guys made it to the end. Thank you all so much again for watching this. Video, like always have an amazing day and i'll see y'all soon. Peace.