Crypto Has Too Many Chains — This Is the Fix? 👀

[music] Hey, hey, hey. [music] Oh yeah. [music] Oh yeah. [music] >> [music] [music] >> Why are you >> [music] [music] >> I think that we're just holding on to Welcome to Underground Crypto. I think that we just holding on to something. I think that we're just holding on to something. Just tell me what's over [music] Heat up here. I think that we just holding on to something. I think that we're just holding on to something. Just tell me what [music] >> [music] [music] >> All right, everybody. What's up? Welcome to the Underground [music] Crypto Deep Dive Show where we have [music] a lot to talk about as Bitcoin is kind of falling over, rolling over, falling off a cliff. I think it rolled over a long time ago. [music] Let's get right into it. How's everybody doing? It is,

can you believe it? Only Wednesday. Um, [music] all the days blur together for me, grinding at an accelerated rate. Let's go. Let's raise that crypto IQ. Let's see what's trending in the market. Let's stay on top of things. Let's not let Bitcoin price falling just ruin your whole care for crypto altogether. Cuz some people it will. Just want to say that for some people they're just going to completely lose all love for cryptocurrency because Bitcoin's price dropped as if Bitcoin's [music] price has never dropped before. Very interesting. Blue Sky says, "Thank you, dear God, for the good life and forgiving us if we do [music] not love it enough." Oh, and forgive us if we do not love it enough. Okay, I'm with you. Thank you, Melissa, for being here. Where is all my people? Drop something in the

chat. Let me know that you're here. See that there's nine people here. Where's Cam? Where's 00? Where's Reliable J? Where is everybody? All right, so let's take a look at the crypto bubbles just as we always do. My favorite visual representation of data across the market. And we start through one through 100, [music] but if you drop down, you'll see we have one through a,000 and 100, you know, 500 category, right? Then it gives you a percentage for each one of those categories. The only green we have is 2 to 300 and 4 to 500 and it's less than 1%. [music] The biggest red here in the top 1,000 is 800 to 900 with negative 1.3, which is not huge, but again, that is across [music] an average of a whole, you know, 100 cryptos. That's not necessarily, you

know, one project. There could be one that's down a lot and one that's up a [music] lot and then they balance each other out. Anyways, you know, all that. ENA talked about it. Athena um on the Lifer stream this morning. It's up 20%. Worldcoin World Coin is [music] still pamping, still pumping. Let's go to the week. Look at that. Flagged, retrace, pumped, flagged, falling wedge, some retrace, pump. Uh this one made a nice flag, pumped even more, fell even harder, and then now it's [music] pumped again. So, what do you think it's probably going to do? What's up with the altcoins getting a pump while Bitcoin tumbles? Are we seeing the decoupling? I know a lot of people would be very glad to see the decoupling, but I don't know if it's going to happen. What should we be

thinking while Bitcoin is dumping? In my opinion, looking for cheap entries, looking to see how far it's going to go down. [music] thinking we were prepared that there could be another leg to this bare market because honestly the bare market would have been really short if there wasn't another leg to the bare market. [music] Are we just double bottoling? We have so many things to get into. But for me, what I can do is I can continue to learn about cryptocurrency, the industry, blockchain technology, everything that goes along with that and not let any of this price shake my conviction. So, XMR is up 7.9%, Caspa up 10%, VVV Bennis token up 9.3% to $2128. Will my dreams of getting Venice [music] token entry under $10 ever be realized? I don't know. Bare market could make it happen. Uh,

lighter up 7%. Let's drop down another hundred. How's all my undergrounders doing out there? I know it gets real quiet whenever price starts to fall. People don't show up. They lose conviction. Super chats are [music] very scarce. All of those things. And it just comes with the territory. GTO 12.3%. Sky AI getting a bounce here 11.7. [music] Tag or Tagger up 10.6%. Rowe up 14%. Beat kind of the clear winner here uh on the day up 18%. Dydx [music] Guay which I I've said many times I like Guay. Um yeah Stark Stark [music] Net we messed around. Billions Network up 6.5%. So that's just what the highlight. Of course I should probably talk about what's negative. home, which we've seen pumped quite a bit and talked about quite a few [music] times, down 17.8%, UB down 16.4%. And this

Circle Internet Group, right, is down 11.5% and we only usually go to 2 to 300. We don't usually go lower than this. Magma was talking about that on the Lifer stream a lot, getting a big pump. Perr, which is Hyperlid ecosystem. Derive, which is a decentralized exchange. backpack which is a part of hash dera I believe was built [music] for hashera har um I used to hold some in that and this cd concordium don't really talk about concordium much and let's get a move on let's do our price run now before we do going to pop over and just say bitcoin drops on our ETF outflows accelerate bitcoin falls sharply over the past week and is now trading in the mid60,000 range. One report says Bitcoin is down nearly 12% over the past week with ETF outflows accelerating. Strategy's

first Bitcoin sale since 2022 shook the markets. Confidence to me this is a nothing burger, but you know that a lot of people are going to go running for the hills because they told yourself they told themselves, [music] right? and probably other people that Micro Strategy was never going to sell Bitcoin. Um I don't know if Micro Strategy ever actually said that, right? And reportedly so 32 Bitcoin. Yeah. 32 Bitcoin for about $2.5 million. Not a lot of money. Its first Bitcoin sale since 2022. That sale sparked concerns because strategy has been one of the strongest symbols of corporate Bitcoin convent uh conviction convention. Uh the important part is not really the size of the sale, right? 32 bitcoin is tiny compared to their overall holdings. The bigger issue is the narrative. For years, the market saw Michael Sailor

and strategy as a permanent Bitcoin buyer. So even a small sale made traders question whether one of Bitcoin's strongest [music] narratives is changing. Decrypt also reported that Bitcoin fell below 67,000 below 19,000 and Salana dropped after $74 with over 1.4 billion in long liquidations. So are they just going after those longs [music] and their liquidations on the higher frame? Not sure. Bitcoin $63,396 at the time of this recording. The market cap 2.3 trillion. We were just starting to get up there like 2.67 2.7 trillion. Getting close to 3 trillion. It's down [music] 3.5% today. Things are on sale. So, as we do the pride rundown for me truly, we're looking to see what is on sale. So B&B $616, XRP $119, [music] Salana 70 bucks.74, Hyperliquid $74. Hyperlid still going strong. Still not caring [music] about all of this

other stuff. Seems very decoupled. Dogecoin. [music] All right. And 9 cents pretty much flat. Getting the vibe here. It's going to go lower. Zcash $618. Uh Cardano falling under 20. XLM falling down to about 20. XMR $364. Uh Chainlink [music] $8.22. Canton Network 15. Lab $16. Uh it's actually up 4.5% today even though it had this pullback here. Very interesting to see stuff there. Toncoin 1888. Bitcoin Cash $240. Okay, thank you. Apparently the microphone is not good. Let me fix it. Okay, let me know if that changes it. Otherwise, I'll just reset my phone. Okay, I heard it. Yeah, I heard it there. Hold on. All right, so that should have fixed it. Let me know if that keeps happening. I appreciate my mods for always being on top of that for me. And let's keep moving here. Memecore

still up back up over $3. That I'm happy to see that. And it looks like it's probably going to go higher, but that could be making like a Bart Simpson pattern here. If you look above my head on these 7-day charts, I do always look at these 7-day charts here. They can tell a lot [music] of story. Near Protocol, somebody asked quite a bit of questions about it recently. $2.81. [music] Avalanche just falling under eight bucks. Sweet. still chilling around 81 and a half cents. [music] And we'll run down for Flare, which I'm going to guess is 85 by market cap. Oh, no. It had fallen. It's actually 93, but still in the top 100. Hopefully, it can hang out there and continue to be in the top 100 crypto projects. Let's go take a look at what is

trending here. We got Bonk, Worldcoin, Pudgy Penguins, Hyperlquid, Venice Token, Bitcoin, Cardano, Salana, Lab, [music] Lighter, Aerod Drrome, Zcash, this APXUSD, which looks like some kind of stable coin. [music] Um, I don't like my stable coins to fall 6 cents though. That's not cool. [music] Ono, and of course, Athena. None of those projects look like they're worth going on about. Uh, you [music] should know what they are. We're looking at what's trending, but we're also looking for coins that we have no idea or we very loosely know what they are, right? So, there's that. Fear and greed index is at 12. It was at 11 yesterday. So, we've got one tick to the upside in [music] in uh you know, sentiment here. It's pretty much might as well be 10. You get what I'm saying? It it hasn't changed.

Let's go [music] to trending cryptos. And it's Wednesday, which means [music] viewer engagement may be lower. We have to make this the top 20 instead of the top [music] 10. And we've got Backpack, which is 2 years old [music] as far as a token. So, I guess Backpack didn't have a token for a long time. Seems like they just now got a token. AIV which we talked [music] about loosely and I'm going to read through them and then we'll go over what needs to be go what needs to [music] be gone over I guess is the right way to say that. Signal Plus Redefined Amber Data Deepbook. We know what Deepbook is. I I didn't know Deepbook was only 1.6 years old. Um what do we got? paper cut block fills speed lab our door a pre I don't

[music] know why I'm even trying to say that right whatever that is uh GE sim which if you know what a sim card is asich magma finance talis network opinion which is an opinion uh you know prediction market bitcoin you ever heard of that [music] um atleta network athena and lighter so that's that's what our top 20 trending of the day. Let's look at the coins that you probably don't know what they are so we can build that awareness. Project awareness is what I should call it. So, AIV builds an AI powered web 3 image feed with onchain [music] revenue sharing and deflationary tokconomics. AIV builds an AI powered web 3 image feed with onchain revenue sharing and deflationary tokconomics. Yes, this was the one that I thought was really interesting because they talked so much about their quote

unquote deflationary economics uh reoccurring onchain burn mechanism turning ongoing product usage and engagement into a driver of long tune long-term value ac cruel. Acrruel, that's a really strange word for the ecosystem. Basically, they're going to burn onchain tokens. It's built in. The more that this gets used, the more the value should go up, price go up. [music] And it it's backed by OKX Ventures, which is a strong ecosystem, [music] strong community. I like that a lot. They've raised 8 million mostly from, you know, OKX Ventures. Let's see what else we got. Yep, this Finnbushi Capital and Draper Dragon. That's a heck of a name for a venture capital. Those are all tier 2 capitals. And then of course, we have many others. A lot of AI. How's the microphone now? Are we good or is it still doing still

doing [music] the nonsense? So, this is a project I would keep an eye on. I wouldn't really consider um worrying about this project too much until we put a token out. So, we need a token generation event. It could take a couple days, weeks, months. We don't know. We'll keep an eye on it. I do [music] like what it's saying, but I want to see it put a token out and then be able to look at that data right on a chart. Backpack, right? We'll pull up the description, but you probably know what Backpack is. Backpack is a cryptocurrency exchange and multi-chain wallet designed to redefine how users interact with digital assets. So, they do more than HAR, but I think most people would be familiar with this through HAR because it was one of the only kind of

third-party wallets [music] that was you could use with things like a Ledger. Um, it's [music] it hasn't done very well. At one point was $230. Now it is 27 cents. So we got Signal Plus. I believe we went over this yesterday. Signal Plus is a crypto option trading platform. I don't really think there's a lot to go over here. It was formed in 2021. They've raised $101 million. It's it's basically, you know, another platform. Yeah. I mean, a lot of AI projects. Yeah. You're going to see that AI is not going anywhere. Claudebot, all of these AI agents, Agentic Networks, projects around resources, like you just just it's getting big. All right, Amber Data. So, Amber Data provides digital asset data and analytics for crypto markets and institutions. So, this is like hitting all your bases, right? You have

your data, your digital asset data for analytics got for, you know, crypto markets. So, data feed, [music] think AI, think resources. And then, of course, they got a nice tiein to institutions. [music] They've raised $47 million, which is nothing to laugh at. Deepbook is a main liquidity hub on the ecosystem, which is cool because we were going over yesterday. What's not cool is it's down 16.5% in the last 24 hours. That part is not cool. Uh, paper cut. Papercut is a European fintech payment solution with an undefined dashboard for billing, payouts, and multicurrency settlements. So there you go. Uh just more infrastructure, right? Local payment methods. Nothing that we really need to be all that concerned about. Block fills has raised 46.2 million. It's a firm delivering bespoke end toend liquidity and software solutions for institutions. So institutional but

also institutional services I should say but also very much uh you know infrastructure. Speedlabs speed labs is a [music] real time sports prediction market infrastructure API powering sports books and crypto betting you and everybody else. I mean, that's not exactly [music] uh news. I'm going to skip this R door. It's been around almost 10 years. If you don't know what it is, it's probably not relevant to you. Is a MEV infrastructure and liquid staking protocol. A priori I guess is what I'm going to call that. Who knows if I'm saying it right. It's been as high as like I don't know 35 [music] cents. all-time market cap high 132 million. We got GE Sims, which I'm sure has to do with Sims and your in your phone or [music] something, right? GE SIMs is the privacy layer for onchain

lives and journalists. So they're I guess they're like the privacy project of of going live and I guess sending data and stuff like [music] that around the world for journalists. I mean that's a good application. I think that's cool. They've only raised $62,000 though, so it's not very much money. I don't know how much they need, but it's not a lot. Cisc's been around [music] for a minute.5 of a year, right? Cisc is a full stack computational network that turns GPU ASIC and computation into liquid yieldbearing asset. Basically more resources for AI. No surprise there. Magma Finance has been doing really well lately. Magnaf Finance is a decentralized finance defy protocol using uh focused on the sweet blockchain ecosystem and movebased blockchains. We learned a lot about that yesterday and this is a good moment to pause and say

this is the power of raising your crypto IQ. Now all of a sudden we're talking about sweet an ecosystem of movebased blockchains, right? I kind of rewrote that for myself there, but you get what I'm saying. We [music] now know what a movebased blockchain is. Hopefully you guys know. I know what it is cuz I paid attention to raise my crypto IQ. Hopefully you digested. It was a lot of information and [music] I'm back again today to give you even more information. And remember, never get discouraged. If you don't get all the information, you have a lot of options. [music] One asks, you could ask questions. Come to the members only live stream and ask more questions until you understand it. You could, because I've introduced a topic to you, go deep dive it on your own time and

find [music] more information, watch some videos about it, stuff like that. Uh, you could always, I guess, hit me up privately as well if it if it's really just not clicking. Market cap 83 million, only ever been as high as [music] 85 million. It's all-time high category right now. There you go. Let's keep moving. ATLA [music] network is probably the only one here that's really worth going over that's left is [music] a modular multi-layer blockchain network modernizing the sports industry. So from here I think we're going to run into Trading View for just a moment. I can tell that today is going to be a quick stream. Now [music] I could be wrong. It might not be a quick stream, but I can tell that it's it's uh it's one of those days where a lot of people are

down [music] on crypto. We will do our usual show, but there's just not usually as much information out there to go over. So, on the 4 [music] hour, you're looking at it, right? You're looking at Bitcoin. Let's see. This uh support that you're coming to 62,500 is basically where you kind of got a little bit of a bounce there. Um I don't know if this is going to look like a short a double [music] like this is a double bottom, right? But is it going to make a double double bottom? And I mean the shorts cooked on this. This thing paid so well. Then your next support under that is about 60,000. [music] You know, pretty much on the dot, just slightly under 60,000 this wick down here. [music] And then after that, we go to the daily. And

I'm pretty sure you can fall pretty quickly here because look, you're entering this gap. Look at this gap right here. That's where you're entering next stop. [music] $43,160. And it's a good time to really see how we feel about things. I mean, it's hard to not see [music] this shoulder, head shoulder kind of vibe. Or was this the shoulder maybe and then this was the fall? I I would take that. That would make sense to me if this here was kind of the fall. I know where your neckline would be there though. I guess it'd be more like that. Yeah, it's not good. Uh that's [music] like 16,000. Who knows if that if that's even possible if that many people would actually sell it. But that's pretty much what we're talking about here. And this is what we're watching

at this point. To me, it makes a lot of sense to just pull levels and look at support and resistance. Looks like there's some some good support there around the 53,000 pretty [music] much on the dot region or you know, and then other people may argue, look at this inverted head and shoulder. Is that going to be a thing? Time will tell. It's good to have both narratives, both ideas in [music] your brain and then operate off of what you what you see play out. Here's Lab. Labs pulled down to about $17. [music] It was as high as 28 and had this crazy wick all the way to $630. And that's pretty much all I'm going to really talk about here. Mega is still down. We're looking for a good entry on that. This CL has been pumping on

the four hours and it looks like it's just going to hold out, right? It looks like it is just going to hold out until what's the what's the four? Let's go to the 1 hour. It'll make a little more sense. Until uh the 4 hour [music] 21 comes up. Basically, what it's seeming like to me. Bounce back to the [music] four. There you go. 15 minute above its 200 touching the 21 flagging [music] out. Looks like good stuff. It is far away on the 4 hour so it's rather going to go sideways till about I don't know looks like at least 1,600 if not 20 2000 [music] 2000 hours, however you want to say that military time tomorrow and then maybe you get another move. Caspa has just been getting Molly wpped for a long time. We're on the

weekly here. I noticed it was up a tiny bit today, but I looking at that weekly chart, I wouldn't get all that excited here. But it did have a nice bounce. Looks like it's going up to the 4hour 200. I didn't want to spend a long time on TA today. I'd rather go over the details of raising our crypto IQ. Let's talk about some top gainers, top losers real quick, and some news. Let's go to the [music] news first. So, prediction markets are betting Bitcoin may fall farther. I think they're probably [music] right. Ethereum falls below 1,800 as pressure build. Now, remember that I I kept [music] trying to get everybody to look at that video that CryptoJ put out cuz I thought he was pretty meticulous in going over the case [music] for if we don't get above

83,500 84,000 region and hold it for like a week, week and a half, two weeks, something like that. That it was going to be a pretty much a clear rejection of that area. the next, you know, wave of an Elliot wave theory and a lot of people are Elliot wave traders, right? And that that was going to be the next leg of the bare market. And I feel like a lot of people slept on it. I feel like a lot of people didn't want to hear it. Here we are. It looks like that was true. Salana, a major altcoins are selling off. Kadano hits a 5-year low. Mastercard expands stable coin settlement. You see how quick we went from things are looking up um I was even hearing people [music] talk very positively about Cardono and their ecosystem and

it seemed like maybe something was [music] going to happen and then here we are now everything's bearish bare market we're going to 40,000 [music] people are freaking out everybody's dumping everything because they all want to get early on [music] SpaceX SpaceX probably going to hurt most of the global markets for a Um, interesting [music] fact, SpaceX is actually not even a profit a profitable uh company yet. I was about to say country. That's weird. Um, yeah, SpaceX, as far as I know, is still highly unprofitable. I mean, what they do is obviously really cool and, you know, revolutionary, next generational, if you will, catching rockets out of the sky and relaunching them and stuff, but [music] at the same time, you can't can't really sleep on the fact that like as a company you're buying, they're [music] they could

fall massively. They could get sold off massively. It could be the best buy you ever did. But either way, people are going to sell out of a [music] lot of things. What it kind of reminds me of is the whole Trump coin thing. Stable coins are becoming global policy race, right? Stable coins are not just US story today. Routers reports that UK lawmakers are urging the Bank of England to ease proposed stable coin rules because they worry overly strict rules could slow down the growth of sterlingbacked stable coin market. [music] US crypto policy based summer push [music] for clarity act. US Treasury sanction sanctions Iran crypto exchanges. That's not surprise. What are they? Let's [music] see. Here is your your list, right? Hardware [music] wallet security is back in the news. Yep. Cointtel graph reports that chip level flaw

connected [music] to treasure safe 7 secure element. The issue involved a laser fault injection [music] attack under lab conditions which allowed researchers to extract some chip held secrets and bypass [music] for I don't understand what any of that means but it sounds like they did it in their own testing. So what does that really mean? The key point is [music] not that everyday users should panic. The bigger point is that hardware wallet security is becoming more advanced and more public as crypto custody grows. Chip level security testing is going to matter even more. Hyperlid is gaining major attention in perpetuals. So [music] uh let's see. Hit three top 62 billion in monthly revenue. That's pretty crazy. Edge X flash crash leads [music] to refunds and pounties. crypto VC deal counts fall to 5-year low. All right, [music] let's move

on from that. Let's look at our top gainers. Top losers, Worldcoin up 37%, Arweave up 20%. And ENA up 18%, top losers, just we've talked [music] about this token I feel like too many times. down 21. Home base ecosystem down 16. Humanity down 14. Walrus still falling another 10% [music] today. Probably the biggest project in the sweet ecosystem. And that brings us to the quote of [music] the day. The major key to your better future is you. Very short, very simple, but I like it. [music] and things you may not know. Okay, we're going to start to set up the stream, right? We're going to start to raise that crypto IQ for the people who are here. We talk a lot about, well, I've been talking a lot about a lot more motivational stuff because I feel like a

big part of people who come to crypto [music] is they want to change their life. They want to make some wealth. They want to make generational [music] wealth. They want to be on the cutting edge of what is to come for the future, whatever it may be, right? But I think that all really does fall under kind of a motivation, self-improvement kind of thesis. My point here is if you're here today with Bitcoin falling and it being Wednesday, maybe you're having a normal Monday through [music] Friday week and this is the middle of your week. It's easy to tune out. But if you're here, you're feeding most people. And there's a lot of people think you [music] got to do all this crazy stuff. You just have to consistently do certain things like education when everybody else won't do

it and [music] that's going to compound because they weren't here. They they skipped days you didn't. That to me is how you get ahead of the rest. Even people who are much more I don't know better like people in school they were much better but if you showed up more and you were more consistent than them you probably got better grades. Now, you may know this, but many multi-chain crypto systems do [music] not only fragment users, they also fragment liquidity, developer tooling, security assumptions, and incentives. So, crypto has spent years trying to scale. [music] This is what we're going to get into. When one chain gets crowded, another chain launches. When one ecosystem gets expensive, another ecosystem promises lower fees. Whatever the pain point is that everybody's talking about, the new projects target that and make a bunch of

promises that they're going to fix those things, right? [music] So, when architecture hits limits, another architecture proposes a different design. [music] At first, this may seem like progress. More chains means more experimentation. More experimentation means more innovation. And in some ways, that is true. But there is [music] another side to all of this, right? Every new chain also creates another place where [music] liquidity can split. Another place where users need to bridge, another place developers need to deploy, another wallet setting, another gas token, another block explorer, another security model, [music] another ecosystem to understand. For cryptonatives, this is manageable. Annoying, [music] but manageable for normal users. It's a complete nightmare, right? Imagine telling somebody you're using the right app but the wrong network or you have the right token but it's on the wrong chain. You need to bridge

first but make sure you're using the right bridge. This is not mainstream adoption. This is infrastructure complexity leaking into the user experience. Chain abstraction, wallet abstraction takes away this. That's why it's so important. This is the problem Anishia is trying [music] to address. Anishia is built around the idea of interwoven rollups. We know what roll-ups [music] are and you know what something is if it's interwoven. So combine the ideas. Instead of every app chain or roll up or rollup feeling isolated, Anishia is attemp attempts to create more connected environments where roll-ups are customizable but still a part of larger coordinated ecosystems. We hear the word roll-ups a lot, right? We are here to raise our crypto IQ, right? So, let's not skip over what most people are probably going, "Oh yeah, roll-ups, right? Roll-ups is just to take a

bunch of transactions, batch them up [music] as one transaction, and process them. Therefore, rolling up a large amount of transactions into one transaction [music] so that we can bring down congestion. It's the exact here. Here's a good analogy of roll-ups, car pooling, [music] right? Imagine you're on the highway and everybody is jammed together, right? They're all stop and go traffic. And of course, this is digitally, not physically, because you couldn't do this in real life, but you just grouped them up and put them together into buses. And all the cars were gone, and all of a sudden, they were just all buses full of people, and they were able to get through the traffic jam very quickly because now it's not a bunch of individual people driving cars. It's a bunch of buses full of people moving through the

traffic easily because we don't have all of this craziness. That I feel like is a good car pooling basically is a good thought to have when it comes to rollups, right? And in relation to traffic, I hope that worked out. This is important because crypto may not stop becoming multi-chain. The real question may be, can the multi-chain future become easier [music] to use? Anishia's answer is not to eliminate chains. It's to make them feel more connected and that is a very different approach because the problem may not be that crypto has many chains. The problem may be that those chains often feel like separate islands. Think of our layer zero, layer 1, layer 2, layer three. And we haven't talked about that in a long time. So if Anishia can make app chains and rollups feel more interwoven, then

it's attacking one of the biggest usability problems in crypto. Fragmentation is kind of [music] the opposite or is the problem that they're trying to solve. Fragmentation is one of crypto's biggest hidden problems. When people talk about crypto problems, they usually mention high fees, slow transaction, scam, [music] bad UX, which means userability like your actual interfaces and dashboards and of course regulation. But fragmentation may be one of the biggest hidden problems because fragmentation affects [music] everything. It affects the users. It affects the liquidity. It affects the developer [music] attention. It affects security. It affects onboarding. A user might have funds [music] on one chain, but the app they want to use is on another. A developer might want to [music] launch across ecosystems, but each deployment has different tooling and liquidity conditions. Liquidity providers may have capital split across multiple

chains making markets thinner and less effective. The more you learn about this stuff, it's amazing that we have uh anybody launching anything doing anything at all. So fragmentation is not just annoying, it makes crypto harder to use and harder to scale as a unified ecosystem. Let's pause for [music] a moment. What is the benefit of knowing this? Got to finish that espresso. So, what [music] is the benefit of knowing this? If you're just an everyday crypto user, you're not a developer, you're not going to build anything, what do you care about fragmentation? Well, to that I would say understanding the [music] problems of crypto makes you well positioned to understand crypto and blockchain technology as a whole, which therefore makes you well positioned [music] to understand when something comes out if they have a revolutionary market changing idea or

if they're solving a problem nobody even knows is a problem. You get what I'm saying here? It allows you to spot the opportunity better. But you have to combine that with [music] the fact that tech very seldomly pumps the speculation. It's usually the metrics like it does well. The metrics look good and [music] then people speculate on it. So it's actually very it's far more likely to be very early on it if you understand what it's doing. App chains solve one problem and [music] then they create another one. App chains are powerful because they give applications more control. Instead of sharing block space with every other app, an [music] app can have its own environment. That means customizability, right? Things like fee logic, [music] performance requirements, governance, application rules, execution environments, and user experience. This is attractive because different

apps [music] have different needs. A game does not need the same setup as a D5 protocol. the way a trading app does [music] not need the same setup as a social network. But app chains also create [music] a problem. If every app has its own chain, users now have to move across many environments [music] that creates fragmentation. So app chains solve customization, but they can worsen the [music] complexity and that is the tension Anishia is trying to address. So Monday we [music] talked about Manata Mega Eve. Yesterday we talked about movement in SUI and of course the movement coding language and today we're talking about this Anishia is trying to build not just another layer one the more interesting idea is Anishia combines a layer one an ecosystem of interwoven rollups and a interwoven stack [music] for building those

roll-ups. Its official documentation describes Anishia architecture as three [music] main components. The layer 1, the interwoven roll-ups, and of course the interwoven stack. Anishia layer 1 serves as the [music] base layer and central liquidity hub. While interwoven roll-ups are layer 2 blockchains built on top of layer 1 and designed to be customizable, [music] that design is important because Anishia is trying to make appsp [music] specific roll-ups easier to deploy and easier to connect. The idea is not just every app gets its own rollup. The idea [music] is every app gets its own rollup without becoming isolated from the rest of the ecosystem. And that is the key takeaway here. CCP says back for moon. Not a good day for moon, but you know. Welcome back. [music] Welcome back. We're talking about interwoven roll-ups. Are you interested in raising your

crypto IQ, CCP? I'll wait. So, no, I won't. Interwoven roll-ups are about customization plus connection, right? So we want to keep how customizable everything is but without being fragmented. Roll-ups are designed to give developers flexibility. According to Anishia documents, they are scalable, high interoperable and fully customizable layer 2 roll-ups built using the interwoven [music] stack. And this matters because one sizefits-all blockchain design does not always work. Some apps may want EV, EVM, Ethereum virtual machine compatibility [music] or move VM or Cosmos Wom, right, which is in that same vein. Custom gas tokens, custom fee markets, special execution rules. Who's following this at all? Is it just me? Am I the only one IQ going up? Anisha's broader pitch is that developers should be able to customize [music] their environments while still remaining connected to a shared ecosystem. And that

[music] is very important idea because crypto keeps running into this trade-off. [music] Customization creates better app environment but too much customization creates isolation. An Nisha is trying to reduce that trade-off. I it's uh when it comes to scalability, I often talk about blockchain trilmma, that kind of stuff, but how scalability is very hard for web 3 and blockchain technology if you want to keep your decentralized in your security abilities. Well, liquidity is the real battlefield here. A lot of people think chains completely compete mainly on technology, right? So that people think chains compete mainly on technology. Do you think that is the question? But in crypto, liquidity is one of the most important battlegrounds. See, if liquidity [music] is fragmented, users get a worse price. DeFi becomes less efficient. Smaller ecosystems struggle to attract serious activity, and developers have

a hard time bootstrapping applications. This is where Anishia positioning itself as a layer one [music] hub liquidity hub really matters right. So if app if app specific rollups can connect back to a shared liquidity the ecosystem becomes more useful because the dream is not [music] just many applications. The dream is many applications that can share economic [music] activity without forcing users to constantly bridge manually. That is where the interwoven idea becomes very meaningful. Anishia is part of a bigger trend towards modular and appsp specific crypto. Anishia fits into a much larger crypto trend. The industry is moving away from the idea that [music] one blockchain should do everything. Instead, more projects are exploring specialized environments. We have seen this with rollups, app chains, modular blockchains, data a availability layers which we've gone over DA uh execution specific [music] networks.

This trend exists because different applications need different infrastructure but the change is that specialization [music] increases complexity. So the next wave of infrastructure may not only be about launching more chains. >> [music] >> might be about specialized chains feeling unified and this is of course where Anishia [music] shines. The risk you might be asking interoperatability is easy [music] to promise and very hard to deliver. We hear about interoperability all the time on websites for projects. Promises made a lot of times not promises kept. This is where we need to stay balanced. Every multi-chain project says they [music] want better interoperability, but interoperatability is hard. It's not just sending tokens between chains like a bridge. [music] It's about security assumptions, liquidity routing, developer tooling, user experience, governance, [music] coordination, and ecosystem incentives. If those pieces do not align, users still

feel fragmentation. So, Inishia's challenge is [music] not just building interwoven roll-ups. It is making the whole ecosystem feel genuinely easier than the fragmented multi-chain world that we already have. [music] That is the real test. Chris Goss in the house. Welcome in. Welcome in. So, the bigger question, [music] does crypto need more chains or just better connected chains? This is the main question for the episode. Crypto probably will not become one chain. There are too many use cases, too many [music] design preferences, too many communities, too many specialized needs. Uh what are the odds of everybody getting along and agreeing that we could even have one chain do everything, right? We need multi-chains. So the future may still be multi-chain. But if the future is multi-chain, users cannot [music] be forced to think about the complexity of every time they

interact with an app. And that is why projects like Indonesia are interesting because they are not only asking how do we create another chain. They're asking how do we make many chains work together [music] better interoperability if you will and that is a much more important question. So the [music] core insight here the big takeaway is the problem may not be that crypto has too many chains. The problem is that too many chains still feels disconnected. And the main idea that we will be returning to, I'm sure time and time again. I think this was a good topic for a [music] Wednesday because it didn't require us to go down a huge rabbit hole. What are we basically saying here? We're basically saying, hey, when [music] you create a bunch of chains, you get that amazing customization [music] ability

that you were looking for as a developer to really build something specific with less limitations. But fragmentation, separation, isolation, [music] whatever you want to call it, their own island, liquidity becomes fragmented and a certain project called Anishia wants to [music] change that. So now I feel like the move here is to go look at Anishia, right? And let's do a little bit of a [music] deep dive. We've covered what it is and what the use case is, right? This series this week is kind of about chains you've probably never heard of and didn't know anything about. I think we nailed it on this one. 12.3 million in its market cap. Max chart says roughly April 23rd, 2025. [music] So, relatively new. Price action looks honestly not that bad for where crypto has been since 2025, [music] right? Nice pump

there and then mostly a pullback. We got a billion token max supply. Very interesting. Circulating supply is only 196.7 million, but the found [music] the outstanding supply is like all of the tokens, right? They [music] don't really give us a reason for the outstanding supply. And [music] outstanding supply means that these tokens have been minted, but they haven't necessarily been put into the circulation. [music] And when's that's going to happen, I don't know. But that's a lot of coins to be minted on chain to potentially come out. You got to think if you're going to bring coins [music] out of the max supply. A lot of times they're not minted on chain yet. So when you mint [music] them, that puts you one step closer to putting them into the circulating supply, if that makes sense. So pricewise and

things that'd be a little concerned. Now it seems like this project is not very much concerned on price of token and far more concerned about the tech and things that they're building. It's infrastructure. It's smart contract platforms. It's a layer one. It's got the YZI Labs, previously Binance Lab, uh, I don't want to say check mark, but affiliation. Enter the multi-chain Garden of Eden, it says. So, this seems like something that's far more interesting to a developer for the tech that they're actually delivering. Look at the ecosystem here. And so [music] for the tech they're actually developing and stuff could be great, but how does that equal money in the market cap? And this is [music] where you have to ask yourself, you know, who you are as far as a crypto person. [music] Are you only here for

price go up? And a lot of you the answer is yes. And it's fine. It's just a matter of honesty about [music] why you're here. It's also tied into osmosis, right? If you only care about price go up, you're probably not going to be very interested in understanding how anything works. And uh that's your personal choice. I care a lot more about how things work because I [music] want to get ahead of price go up. Same idea, just a lot more ambition. Anisha has a very interesting project, but it's not one that I would run to buy. I don't [music] I personally, not financial advice, my own opinion here. Um I don't think it's really a great coin to try to buy because they're very experimentational. They're very small. They don't have good brand recognition. Most people would have

no idea who they are. But I am glad to see that somebody is working on the problem. But the problem [music] is one that most people probably don't even realize is a problem. So speculation on that problem [music] being solved is probably very low to almost not at all. So it would really have to deliver for a long time, become [music] kind of the staple or the backbone for that kind of problem solving and then and only then maybe we could see people speculate hard on it. We saw that ETF outflows were supposed to be really bad. So, let's go look at them. Uh, this is not what I want. Dashboard, not an ETF tracker. I want more of like an overall, right? ETF. I've been there before. I've seen the ETF graphs. Where are they at? [music] Crypto

ETFs. There we go. And is [music] this Let's zoom in. Is this today? I mean, they're not great, but [music] I would say that, you know, the 28th was worse. 28th was much worse. I appreciate you guys keeping that chat rolling. Crypto needs [music] more diversity, equity, inclusion. CCP, you [music] are hilarious. Are you for or against? For or against what? Are you asking me or somebody else in the chat? I have no idea. He's trying to trying to spin this show out of control right now. And we pretty much covered everything in an hour. I knew once we started the show that it was probably going to go that way. Now, if you're familiar with the Underground Crypto Deep Dive Show, you [music] would know that most of our shows are like 2 hours and then on top

of that, there's a membersonly [music] live stream that's even longer. So, I think I'm going to take the win today. Hopefully, you guys [music] give me a pass. We'll be back tomorrow at 8:30 p.m. Are you for things or against things? I don't know. [music] I'm in the middle. How about that? Uh, things are things, I think, and all I know is a fact of my own ignorance. So, I'm going to go with the neutral ground for that question. But my point is, it's hump day. We're missing a lot of our main people. Not a whole lot to [music] go over. I think we thoroughly covered it. We did our due diligence, which is the point of the channel. And I'll be back with fresh crypto IQ raising events for tomorrow. More information to bring to you, said simply.

We could do a little bit of chainers and stuff like that, but for the most part, sometimes the win, it's like overtrading. Sometimes the win is to not overtrade and to not try to talk ourselves into circles [music] about the market and this that the other when when in reality what we really need to do is kind of just sit on our hands and wait for things to develop further. That is [music] certainly my opinion here that we should basically sit on our hands and wait for things to develop further [music] as far as the market goes and what's going to happen next. This that and the other cuz [music] that's fine. I have to get up early to work tomorrow anyways. Yeah, it's Wednesday and I usually would run the show at the same [music] time, but like

I always said, the show became two hours because the show needed to be two hours. That's [music] my opinion. The show is an hour today because the show needed to be an hour today. It's all about how much information there is to cover. And when you kind [music] of force an hour show into being two hours, it just gets repetitive and weird. And we don't want to do that. We want to c keep things uh, you know, keep things, what's the word I'm looking for? >> In a good workflow. I guess that wasn't what I was looking for, but that's what I'm [music] going to go with. Made 48 pig food. It's phenomenal. And we'll sell everything else here into the B&B pool. and check to see how much B&B we have gotten so far [music] thus far. Moon,

he says. Exactly. I love it. Thanks for being here. Thanks for being part [music] of the underground crypto community. Hopefully, you've joined our free Discord by now. CCP 0.0027. [music] We're working towards that point. 03. Anyways, shout out to [music] my underground crypto family. If you need anything, you know how to reach me. And that will [music] conclude tonight's show. I know I say goodbye like five times at the end, just kind of in my mind, making sure we've [music] we've touched everything that we need to. Stay underground, stay crypto, and I will see you [music] guys tomorrow night with another exciting stream. And always keep learning, keep staying motivated, raise that crypto IQ, [music] and watch some Jim Ran videos. They will help you greatly push yourself past your limits.