HEX, PulseChain & PulseX Explained: How It All Connects | Daily Crypto IQ

[music] >> You can do >> [music] [music] >> I know I know I know I >> [music] [music] >> I think that we just holding on to something. I think that we just holding on to something. I think that we just holding on to something. >> Just tell me what's on >> [music] >> holding on to holding on to something. Just tell me what's on your >> [music] [music] >> Welcome in everybody. Welcome in. You know what it is, the Underground Crypto Deep Dive show. And today, well, today is going to be a very interesting and fun show. Today, this show is very much going to be about what I always say, we deep dive as a community, we learn together as [music] a community. That's what today's show is going to be all about. And I look forward

to learning more about HEX, Pulse, PulseX, all of these different type of things, eHEX. It's been about a year since I really dived into a lot of it. I wouldn't say I know nothing about them, but it's not something that is constantly on the front of my radar. We will get to that shortly. First, check out this 4-hour chart for BTC. So, what is almost painfully obvious at first is this complex head and shoulders. And you could grab the measured move of it. I've done it before, but that's not really what I want to focus on right this moment. We'll come back to that measured move in a minute. It's this 2-hour 2-hour. We're on the 4-hour chart. I always mess up. 200-day moving average, which is this red line through here. Of course, you can make them whatever

color you want. The Life for a Year uses a different color. I like to make mine red. And you will see that we lost it here. And it seems like we're struggling to get back above that. So, for me to kind of feel like we're going to go to the upside anytime soon, kind of need us to get above that 200-day moving average on the 4-hour. Now, let's roll to the 1-hour real quick. Kind of the same story. You lost it over here. We keep peaking above it. And then not really going very far, right? Coming back down. Then we got back above it for a second there, and we lost it again. So, I'll mostly be watching this 4-hour for us to regain that 200-day moving average. Of course, the 21 needs to come up and cross. So,

first we'll get above this 200-day moving average, and then that 21 which is the white line, 21-day moving average should come up and cross here that 200. And that's pretty much what I'm looking at here on the chart. Again, I'm zoomed out. I've said it many times. [music] My focus here is not, you know, day trading or anything like that at this part of the market. I like to just focus on building spot bags. Shout out to all my undergrounders. Thank you for being here, of course. Melissa Strigahar, anybody else here with us? Anybody else here with us? Drop something in the chat. Let me know that you're here. Smash that like button. >> [music] >> Melissa dropped a super chat already, said, "Evening, everyone. Blessings to you all." I appreciate you sending in a super chat. That fan

funding is [music] very important to the channel, and of course, I thank you for all that you do as being a mod on this channel. Says, "I've been tearing up Kindred. Have to buy more Kindred and connect a wallet. I just jumped in on their Discord today." Okay, yeah, I've been in their Discord for a little while. Although I haven't been super active, I do have another I have another uh Well, I I talked about it a little bit. It's called Yakamon. It's a game. We love DeFi gaming here. If you're new to this community, and you're watching this at a later date, but I'll come back to that in in It's made by the same people as Sunflower Lamb. Let's go ahead and kick off this show and do our introductions. It's Monday. So, of course on a

Monday, we're setting up the stream series for the week. And tonight, we begin an entire week inside the HEX PulseChain ecosystem. But before we debate prices, adoption, promises, or controversy, we need to understand the system itself. HEX is not a blockchain, PulseChain is not an exchange, and PulseX is not the native gas asset. PLS or PLSX and in or INC have very different jobs, right? Those are tickers for different coins that are a part of that ecosystem. Now, when all of those names are treated like one giant investment, it becomes almost impossible to identify where utility is actually coming from, where value might accumulate, and where the actual risk lives. So, we're going to be breaking all of that down tonight and making it as straightforward as possible. So, by the end of the stream, you should be able

to explain every major part of the ecosystem in a short sentence. You should understand how users enter the PulseChain, choking on air. All right, you should understand how people enter the PulseChain, pay for the transactions, make trades, provide liquidity, or time lock HEX. We are not approaching this as uh supporters looking for confirmation or critics looking for a takedown, right? We are neutral, we're doing research. This is Underground Crypto, welcome in. We're going to separate the claims from the mechanics and the mechanics from the market price. So, let me know in the chat which asset first brought this ecosystem to your attention. Was it HEX? Did you come in later on with Pulse or PulseX? Or was it something else entirely? I would love to hear how you managed to come about the HEX ecosystem, why you care about

it, what you're bullish on, pretty much any thoughts that you have on it, I would love to hear. So, the first principle This is the quote of the day, by the way. The first principle is that you must not fool yourself. And you are the easiest person to fool. It's a pretty good quote. Richard P. Feynman F E Y N Feynman. I don't know who that is, but I like the quote a lot. Now, that principle applies equally to supporters and critics. If we begin with our desired conclusion, we can almost any statistic to support it, right? We can just make things up to support whatever we want. They call that seeing through, you know, your pair of lenses. This week we begin or begin with how the system works and allow the evidence to shape that conclusion. Now,

this is going to be a lot of fun. I wonder where all my undergrounders are at on a Monday, right? I never know if YouTube is telling me the truth, but six people There's six people here? Where's Camsta? Where's uh Where's all my people? Where's Blues Guy? Like I always say, I don't trip about that. I do love all my people, 007 Zo, all of my people. I love to see them come through and hang out. But, I'm here to raise my crypto IQ. At the end of the day, I do this because I love it. And I am going to continue to raise my crypto IQ regardless, and I would love to see the community kind of adopt a very similar feeling towards educating yourself, that you're relentless and you would do it regardless of if I was

here or not. But, if I can encourage you and inspire you to raise your crypto IQ, I would be glad to do so. Did I put in the Discord we are live? Yeah, some days I don't know what's going on. Now it dropped to four people Um and again, I'm not complaining. I really doesn't matter to me. But I just here here's what gets me. I don't know if this thing I don't know if YouTube's ever telling me the truth about how many people are here because if somebody were to come in here right now and gift 10 super chats, 10 names, 10 people who must be watching the show or not super chat. Sorry, if somebody were to gift 10 memberships, that's what I'm trying to say right now. 10 names of people watching the show would pop

up who are not showing up on my radar at all. I always find that quite interesting. Anyways, let's continue the show because I'm psyched to learn about all this stuff. I haven't really deep dive a lot of this since pulse chain really came out. Right when pulse chain you were sacrificing hacks for pulse [music] is about when I kind of last deep dive this stuff. So what you may not know is locking hacks is not [music] what secures pulse chain. Hacks time locking is an application level token mechanism. >> [music] >> Pulse chain validators secure the network using PLS. Pulse chain is not an Ethereum layer two. It is an independent network with its own consensus, gas asset, transaction and market value even though market value on a lot of your things like CoinGecko and stuff can be very

difficult to find. Pulse chain copied Ethereum system state through block, you know, 17.2 million basically, but it did not copy Ethereum's liquidity, external reserve or market price. And this is coming from official mainnet documentations where I got that information. A copied stablecoin contract does not automatically have dollar backing. That's an interesting concept in its own. Contract data can be copied, Circle's reserves, Maker DAO's collateral and issue and issuers, right? Redemption promises cannot. PulseX buy and burn mechanism is not a direct dividend. It can reduce supply, but it does not guarantee demand or price appreciation. So, I'm looking forward to tonight's show. Let's go ahead and kick off with all the things that we normally do while we give people time to trickle in. Um I'm sure that we will see quite a few more undergrounders before this stream is

over. Confident in that one. And we got our problem, we got our talking points, and we're going to We're going to pick up on the education here shortly. But first, you know, we're going to come over to those crypto bubbles. We're going to do a little bit of a pulse on the market. See what I did there? PulseChain. Anyways, Beat is Beat down 13.8%. I never miss that joke because it it's just too good. These things just write themselves, right? Um Hash is up 9.1. [music] This is the Providence blockchain. Something I keep meaning to look a little deeper into, and I just haven't yet. There are so many coins, like I say, all the time. It's like Pokémon. You you try to catch them all, but you're not going to. Try to know what they all are. You

could do pretty good. The compounding knowledge of doing this every day is pretty good. But there are certain things I still just don't know what they are, and that's just gives it a highlight on my radar to look into Cosmos or Atom, right? Predominantly known for having, you know, 12% APY. Unibright 13.3. We've seen Unibright kind of go up and down and up and down. I'd love for Reliable J to roll back through here at some point so I could pick his brain about a few things. BTW 32.5% to the upside. This is Bitway. We've been seeing uh a little bit of interesting Bitcoin DeFi, right? With Rats. Rats was a big one. Let's see if that pops up. I don't know where that sits in the 1 through 1,000. Let's toggle 1 through 1,000 here. Not a big

day. I mean, a good bit of green, but it's all like under 1%. Again, for those who don't know, I have a lot of things going on in life. And this is my time generally every day to keep a pulse on [music] the market and things like that. I may look at things throughout the day, but a lot of times this is my time to also lock in and see what's been going on. I know a lot of people do that more at the beginning of the day. I think if you do it every day, it does matter if you're trading and stuff, but if you're just mostly building spot bags and [music] stuff, it doesn't matter quite as much. But you do with that what you want. XCN or Onyx Coin is an older coin. It's up 12.6%

today. Kcash Network >> [music] >> up 17.8. So, some oldies but goodies definitely getting a little bit of attention here. Velvet with 5%, Genius with 6.8%. Let's go down one more set here. CashCat up 41%. With a 61.5 million market [music] cap. So, what brings CashCat back to the radar? I've learned so much on pump.com. pump.com pop pump.fun. What am I talking about? And it's very interesting to see CashCat continue to get a revival here and not necessarily just have everybody move on to the next meme coin. Rats. We talked about Rats as Bitcoin DeFi. It's down 8%. It pumped a bunch. You can see on the year it's up 232% on the month about 83. On the week it's up 122%. So, it's been doing really well. Pretty normal for it to have a little bit of a

pullback. So, you have this Unify down 29%. Not sure why that's down Ansem's [music] down 11.4% maybe the money rotated out of Ansem and into cash cat. For those who don't know Ansem is very popular person in the world of meme coins and he did not make this black bull coin. He is not the one who made it. They sent him some of the supply to make it look like he held some in his wallet kind of so everybody would jump on board and it worked. It worked really well. But he doesn't actually hold or he didn't actually create that as far as I know. E-hacks we're going to be talking about E-hacks. I wish to know a little bit more about E-hacks and then you have this Undead Games we've looked at it several times. I don't know

where they're at but they've kind of fallen off a cliff a little bit here. Let's go look at the monthly. I don't know what this is about. I never invested in it. We talked about it a little bit. We looked at some of the games. The games were very simple and not as D5 as I would like them. I like I like some of the games we've been playing lately. They're they're very D5 and I appreciate that. All right. Let's refresh our CoinGecko. Let's do our price rundown real fast. Overall market cap up 0.9% to 2.27 trillion. Anything green is good with me at this point. Bottom of the bear market fives. Prime Minister says yo what's up everyone. Prime Minister I appreciate your support. Appreciate you coming through. And I really look forward to getting back to doing

some trenching with you whenever the market allows it, right? We don't want to force it but when it when it actually is genuinely there I look forward to getting back into that. Bitcoin not that I left. Bitcoin 63,345 dollars above 60,000 is pretty much good for me right now. What do we see as a bottom 57? Is this bottom that we've already had going to hold or are we going to go lower? Everybody is holding their breath waiting to find out. The Iranian conflict and things like that is not helping this market. But, it does seem like we're getting to a point in the life. Professor said this on his stream this morning. Uh very much that it feels like it's getting to the point where it's kind of baked in and people are not as concerned about it.

But, it depends on what part of the market you're in how much that is affecting or not affecting, right? Yeah, Prime Minister says market is terrible today. Exactly. Yeah, that is one how of a couple of cliffs Undead Games did. Yeah, I I I don't know if they had a problem and exploit or something like that, but they really kind of rolled over and fell off a cliff. Or if it's just the market is just bad time to be in [music] a DeFi gaming project that hasn't really delivered much. Oh, yeah, waiting for volume to pick up. It's been bad these last few days. Exactly. And that's why going to take your advice and and sit on my hands a little bit, not chase too hard. The only thing I'm in right now is that SBT cuz I have

faith that uh it's a safer coin to hold for a little while. Ethereum 1850, I like to see that. It's not falling off a cliff. We what went as low as I think we made it as low as 1,500, but I'm not sure. That might have been where I wanted it to go so I could scoop up some more. But, the little bit of Ethereum that I own, I have bought around like 1,900. [music] So, I'm barely underwater, but I'm chilling right there. So, I'd love to see it not go too much lower. I'm not going to talk about each price individually. We'll run through this a little quicker. BNB $588 up 4% in the last 7 days. XRP, I'd love to see it hold a dollar. They could hold a dollar even at whatever the low of the

bear market is, if we have a lower low here, that would be a really bullish sign to me. I know you rather love XRP, you hate XRP. We've done whole series on it. I'm not going to get into that right this second, but Solana is at $73. And uh it's pretty much flat, only 0.6% in the last 7 days. Dogecoin still chilling at just barely under 7 cents. When we started to lose 7 cents, I was starting to get a little concerned cuz like how low are we going to go for Dogecoin? Just to remind people, Dogecoin is how I actually got into crypto, um, not because of the hype wagon. I just got really lucky and just happened to buy it when it was 0.002. So, very low. Hyperliquid, $53.67. If you were looking to build a bag

of Hyperliquid into, uh, the bull market, I don't know. It's crypto. So, don't think whatever was highly relevant right now or 6 months ago is going to be highly relevant 2 years from now because this is a very fast-moving market and asset class. But, Hyperliquid looks pretty good. They make the most money as far as revenue per chain. And I I see them probably being very relevant, if not at the top of the game. And they're only $53 right now, right? We got Zcash coming in at $479. Make sure we check that chat. Shout out to all my undergrounders. Uh, let's see. $479 Zcash up 1.3%. Cardano. Wow. I didn't realize Cardano was up 25%. I mean, it doesn't look impressive cuz it's only at 19 cents. I do hold some Cardano, just to be like 100% fair. Has

7.1 billion in its market [music] cap. And by fair, I just meant transparent here. And I don't really need to look at the max chart, right? What's the all-time high for it? $3 and something, right? It's not the best place to look at it. Yeah, 309 was the all-time high. At least that's what CoinGecko says. Let's go to that 7-day chart. So, yeah, 7 days ago we were chilling around 15 and 1/2 cents, and we went as high as like 19 and 1/2 cents. It's a good trend in a good direction. We just don't want to give it all back, right? Uh a lot of people feel a lot of different types of way about Cardano. Charles has been pretty open about the fact that he's building for the long term and he's not really all that worried about

what the price is doing right this moment. How well that's going to serve him over time, I'm not exactly sure. But he's up 25% in the last 7 days, or Cardano is. Monero, XMR, $362, up about 5% in the last 7 days. Can't network, one that I certainly was considering scooping a bag of in the kind of bear market bottom vibes here. It's looking pretty good at 11 cents, I must say. Seems to be very strong ecosystem, very financially driven, well connected. I'm liking it. I haven't actually bought any yet, but it's starting to look pretty pretty in uh I was about to say intimidating. That is not. Enticing, that's the right word. Anyways, let's get right through this. Toncoin, $1.40. Hedera has been right around where Dogecoin is every time I've looked at it. It's about 7 cents.

Avalanche, $6.58. Little bit of green on the 7-day through here, but it's not much. Swee, 68 cents. I've been meaning to buy a little bit more Swee. I bought it a little bit around like I think it was like 70 cents I bought some. I'm going to buy a little bit more here pretty soon. And Meme Core, $1.19. I've been watching Meme Core. I don't have a big stake in it, but I think it's a very interesting project. I like Memex, a Web3 kind of version of Twitter. I talk about it constantly. I think it's cool, but it's a little underutilized and it's not the greatest time for adoption when it comes to that. Now, let's go see what is trending over on CoinGecko. Prime Minister says, "Yeah, it's low risk. It can't go much lower." Exactly. And I

bought into SBT, I think at like 3,700, something like that. So, like you said, like it can't really go much lower. If it does, it's just going to go to zero, and I don't have a lot of money in it. Uh Melissa says, "I have some ADA, too." I think most of us who's been around for a while, we have a little bit of ADA. And that's what they do, they dump it. That's what you That Wait, wait, wait. I I Am I reading what's there or am I just reading what it whatever I want to make up? They dump it, [music] that you forget it, and they pump it. Yep. And then everyone jumps into a and really pumps it. Exactly. They know how to manipulate the heck out of retail traders. I don't even know if it's

fair to call a lot of the retail traders. They're They're just retail. Anyways, Cash Cat, up 75% in the last 7 days, which for the avenue of meme coins and stuff, 75% in 7 days is not real not real big, but if you're coming from traditional finance, 75% in 7 days is amazing. So, there's a stark contrast there. Pudgy Penguins, uh strongest NFT project in the game, which means [music] nothing, all right, because NFTs are not popping right now. Cardano Swee, the Black Bull, Ethereum, Solana, Zama. Been following Zama for a long time. It's down 18% in the last 7 days. Homomorphic encryption, I guess, is not uh as trendy as we hoped. No, I'm just kidding. I knew most people would be sleeping on that. It's very uh technical. Ponds, a launchpad for Robinhood ecosystem, pump.fund right there

with it. This GRVT [music] token we've been keeping an eye on. It's not even 7 days old. AKE, Akita. We've been watching that. It's It's a very interesting project, mostly in the realm of DeFi gaming, but it has some other uh facets to it, right? You can kind of create your own game and things. Polkadot and Ondo. And you can create your own game, but they're also very I don't know, copycat and [music] very similar to each other, that kind of thing. I don't see anything super amazing that we need to go over right here that I've never talked about before. And we got a good bit of educational stuff today, right? So, we'll hop right over to CryptoRank and take a look at that fear and greed index. Again, the fear and greed index some people live and

die by it. I certainly take it very seriously, but I also just like to look at it every day and keep that number in the back of my mind. Well, it said 25 and then I clicked it and it says 28. I like I'll take 28. It's better. 7 days ago it was at 30. Yesterday it was at 27. Now it's at 28. Of course, they have a nice bar graph down here if you want to toggle 6 months, a month, whatever it is. We look at it so much, I don't really need to do that unless I have a very specific question. So, fear and greed index is at 28. It's good. We're in [music] regular fear, not extreme fear. And let's go take a look at what is trending. CryptoRank is very much more focused on uh

institutions and and new new uh projects, but also very institutional products and stuff like that. You know, funding rounds, seed rounds, all of those kind of things. Stuff you don't typically get on, you know, Crypto uh CoinGecko or CoinMarketCap. You don't really get a lot of those analytics. That's why I always use CryptoRank for this type of things, but the pop-ups if you don't pay for the premium are are vicious. They're like mosquitoes. They just won't go away no matter how much you keep swatting them. Uh GoPulse Security. Been around for 1.5 years. What is it though? Is a Web3 security infrastructure provider. Okay, that makes a lot of sense. 90 million market cap and it's high as 290 million. Very interesting here. Probably not worth spending a lot of time on though. We have V12. Autonomous AI security

agent for auditing smart contracts and mission critical code. All right, I definitely get the point of it here. It says they've raised about 10 million dollars, which is not too shabby, but it's not a crazy amount of money either. Electric Capital, I don't see any really big backers or players here. And uh you know, everybody's kind of kind of crazy about AI getting and finding exploits and stuff like that. So, V12 is an autonomous AI driven security agent designed for auditing smart contract and mission critical code. Built by the founders of blockchain security firm Zilliqa, which never heard of. The platform acts as an in-house AI auditor capable of identifying high and critical vulnerabilities through comprehensive white box code analysis. Basically, it looks at the code and sees if there's any exploits that could come out of it. It's

definitely useful to a company. So, I could see people paying for it. All right. So, then we have Nexus. We've talked about it a few times. Prime Minister even has told me, you know, they had a great thing and then they botched it all up if you know what MapleStory is. I don't know why they don't just keep going. I don't know. Did they give up? Did they quit? Are they still trying? Maybe you know Prime Minister more than me cuz soon as I realized that they were already cooked here, I kind of didn't worry about it as far as like DeFi Friday looking into it or anything. But maybe we'll have to check it out at some point. If you know what MapleStory is, very popular. I don't know the exact term it would be, but something like

an MMORPG. And then somebody wanted to make kind of a blockchain version of it, which was great idea. But it doesn't seem like the execution went well. All right, we have Zilla, institutional digital asset and transfer agency platform for RWA tokens. Now right off the top of my head, isn't Zillow like a company that does real estate? Where you list does real estate listings and stuff like that here in the United States? I don't know that there's any association with it, but it would make a lot of sense for them. Cuz they would be RWAs, right? Real estate, real world asset. Uh make a lot of sense for them to come into this game. It says it's a London-based fintech company providing a digital-first transfer agency and digital digital asset platform for institutional assets and wealth managers. Again, we

talk constantly about how there's a lot of stuff that's very geared towards institutions. Is that because that's what Crypto Rank as a platform very much focuses on? Or is it because there's a lot of stuff being geared towards that right now? Prime Minister says, "It's greed, UGE. These projects could be awesome. It's just too much greed with the teams behind these projects." Exactly. Enough is enough for some in crypto. Enough is never enough for some in crypto. Exactly. And uh what I would like to see is if I'd like to see people kind of pick up and then try again. The good people, you know? It's like, "Hey, you you made some money. Let's get rid of those people who ruined it for us the first time. Kick them out and go start again." This looks interesting. They have

a backer and it's Ripple. And this is Lucido. Regulated infrastructure platform for fund tokenization and digital collateral on the XRPL network. At first I just saw that XRPL and I knew where we were going. It's also a London-based fintech company providing an FCA regulated infrastructure platform for tokenization of traditional investment funds and secured finance. [music] This is interesting. Is this Ripple getting into, you know, the European market cuz Ripple's pretty much an American company. I mean, they're global. Don't get me wrong. It's It's definitely a global thing, but they're based in America as far as I understand. I Who knows? They could be registered in the Bahamas. I don't know, but uh I think they're pretty much looked at as an American crypto. So, this is interesting having an attachment to London-based fintech company backed by Ripple on the

XRPL network definitely could be good exposure in Europe for XRPL as a blockchain, not necessarily as a cryptocurrency. Mars coin. I feel like there's a lot of coins that have Mars in it. Marge uh Elon doge like meme coins and stuff like that. Let's see what this is. Is it a serious project? No. Mars Mars coin is a meme coin on the BNB network. Has it been around for a long time? Let's go to all. Don't think that it has. August 3rd, so it literally like came out today. What does it have a market cap? 30 million already? Let's go take a look at it. What is the point of it? Mars coin BNB. All right, we got the what looks like a SpaceX symbol. Uh, don't let that make you think there's any actual connection. It's just good

marketing [music] and good branding. Yeah, had some tweets held up here between Elon and CZ. They're like, "Let's combine it." Combine narratives between CZ Binance, Elon SpaceX, Dogecoin, go to the moon, all of those kind of things. So, looks like we will have a Mars coin. In foresight, it is inevitable. Maybe at some point, right? It's inevitable. Cool graphics. So, one token, one share. One share of what? Mars coin? That's not necessarily receive SPCXB. Yeah, hold 10K of Mars coin and earn this SPCXB automatically, but I mean, is that even valuable? I don't even know. Manual claiming is always available on Flap. There's probably a little bit more to this that we could really dive into. I'm not going to worry about it right this second, right? Because again, we do have a lot to get through. If you're

just rolling in, smash that like button. Campston in the house. We were just wondering where you were, Campston. Thank you for joining us. Melissa says, "I want enough to pay off some bills and get a car." I don't want an island like others. Yeah, I'm with you on that. I want enough to have some comfortableness in life and some financial freedom. I'm not looking to own islands or jet planes or anything, but you know, as as a rapper once said, "Don't sell me no plane unless it comes with bombs in it." How that's relevant, I have no idea. Uh Keema is in a token round. They have not even raised a million dollars yet. 659,000. Keema is a market neutral yield on Solana built on the network's perps exchange with a true funding rate. With a true funding rate,

whatever that means. It's an IDO. Algorand, it's good to see that getting any attention. I feel like Algorand has been pushed to the background kind of with HBAR. Athleta network, cat coin or catty [music] coin. It's zero years old, so it's pretty much brand new. It's a meme coin. I'm sure you guessed that, right? On the Solana ecosystem. 35 million market cap, been as high as 42, probably not worth spending a lot of time on. We got this home. Uh we learned that this was in the base ecosystem. Campster says, "UG, do you find the market for crypto is getting more bullish?" Question mark. "Nice pump today, but now it's giving it all back." I mean I I I've I've been around this crypto market for a good amount of time, not as many as not not as many

years as some of the OGs, but I'm very numb to price action. I I I operate, you guys know, I operate more like on the four-year cycle kind of thing. Build, it's going to pump at some point, and I look for long term. I'm not trying to take advantage of every little pump that happens in the market. But, is it getting bullish? I think right now we would be a little bit more bullish if we didn't have the whole Iran conflict thing looming over our heads. Some of that stuff, here's how I feel about it. I feel like it's opportunistic. I don't think that blockchain really cares about a conflict in Iran at all. Matter of fact, a lot of money is routed through blockchain, Bitcoin, and stuff that would normally go through different rails if it wasn't for

all of the actual confrontation and conflict, right? Same thing. So, I wouldn't say that I feel like right now it's getting more bullish. But, I do feel like you could say it's getting more bullish cuz it's just a time frame thing. If you're looking at the hour chart, no, it's not getting more bullish. If you're looking at the daily chart, I think it's getting more bullish because I think you're very much closer to that bottom, that true bottom of the market where we turn around and go up, and that's extremely bullish. So, time frame perspective is highly relevant, right? Open Ledger. I remember when this thing came out. I don't really think it ever did much, right? Open Ledger is a blockchain platform that focuses on creating decentralized solutions, primarily for artificial intelligent intelligence development and finance. I mean,

I could see how it would do well, but a lot of these projects are a dime a dozen. It was as high as almost 400 million, and now it's at, you know, 40 million. It's It's divided by 10. Talk about a 10x, this is a 10x divide. No one People say that very often, right? Perlin Way, we looked at this a little bit. We tried to grab a little bit of it, and I don't think they ever gave us anything as far as an airdrop. Hyperliquid, you know what that is. Fark Coin, an AI agent, probably the only one that's remained relevant out of that whole AI agent phase. Qubic, Qubic still I don't know if it's one of my best performing videos, but a video that I did a a breakdown on that project, and it did really

well. Uh Genius Let's stop at Genius cuz Genius is a a newer project here. Genius is a non-custodial digital trading platform launched by Shuttle Labs. It's done very bear market stuff. It's pretty much gone lower than it was even when it came out. 116 million still in the project, been as high as about 316 million. Prime Minister says got to be numb, that's how you win. Yeah, super numb to price action, you know, watch the portfolio go up and down and up and down. And you don't sweat it anymore. You at this point if you're holding anything, you have conviction long-term. If you don't hold a portfolio and you're just day trading, then you're just looking to take advantage of the move. It's kind of the the beautiful thing about cryptocurrency and asset, blockchain, whatever you want to call

it. And also the the the confusing part for a lot of people is that [music] there's so much to do and there's so many people doing so many different things from long-term holding, day trading, you know, swing trading, more like weekly or every, you know, three or four days they're in and out. So it's just so many things that you can do. High leverage, super safe low leverage, only spot trading, pump dot funds style meme coins, quick gains. Um there's just there's so much. There's people just dropping they have decent money and they're just getting yield, right? They're just getting like a nice 5 6% somewhere, and uh that works for them cuz they have quite a bit of money. And so everybody is just like playing this crypto game in a different way. And that's one of the

things new people come in and they're like, all right, I'm here, it's crypto. I was told there's a lot of money to be made. What do I do? And then they start taking advice from all these different people who want to have a lot of experience or two or you could say as well um are doing something very specific that works for them that makes sense for them. It might make no sense for the other person. You come in you have no capital really. Say you got two $300 and then somebody convinces you that you're going to go leverage trade high leverage and turn two $300 in a couple of months into 10 20 grand. I've never seen a new person do that. I've only ever seen them get wrecked and lose all their money, be super down on

themselves, and you know, maybe even leave the whole idea of making any gains in crypto. When really they just didn't know what they were doing and what they were doing was probably not a good fit for them. You have two $300, you should probably buy something hold it long-term. I digress though. I could go on and on about that. That's not what we're here for tonight. We're here to talk about the HEX and PulseChain ecosystem. And I I'm really excited about this. It's kind of brought about by Melissa mentioning it many times and then me realizing that since PulseChain really came out and stuff, [music] I'm I'm not as well versed on it. And for somebody like me who loves to research stuff, when I when I know there's something that I just really don't know a lot about,

I got to go figure it out. So, the problem, right, is what we start with. What is the issue? The HEX and PulseChain ecosystem has developed its own vocabulary, its own assets, and applications. To someone outside the community, it can sound like one enormous project controlled by one price narrative. And that creates two problems. New users may purchase an asset without even understanding what it is or what it does. That's a huge issue. Talking about new people coming into a certain game or arena within crypto, we say crypto, but it means so many different things. It's kind of incredible. At the same time, critics may dismiss an entire functioning network because they associate every component with a single person or controversy, that would be Richard Heart. Right? So, both sides lose the ability to analyze the technology accurate. That's

what we don't want to do. As Underground Crypto YouTube channel, we want to stay pretty neutral and just put the facts on the table. You guys can make up your own decisions. If you love Richard Heart, if you hate him, if you think he's a Ponzi scheme artist, whatever. Doesn't really matter to me. I just want to put the facts on your radar. So, the shift away from the problem. The shift happens when we stop viewing this as one object and separate it into layers, right? Everything is easier to digest when you break it into bite-size pieces. PulseChain provides the blockchain. PLS pays for and helps secure the network. HEX provides the time locking system. One of my big questions when I decided to kind of come into this is [music] what did they do to HEX? Cuz HEX

is the original, right? Pulse comes around later, and I'm just thinking to myself, is HEX irrelevant now? Cuz I've said this before, I don't know, I bought like $200 worth of HEX at one point, I think. It's in a wallet that I don't deal with very often, and it's just chilling there, right? And uh then they did this whole pulse. A lot of times people sacrificed HEX for pulse or PLS on the pulse chain, right? And I didn't do that cuz I was just not [music] privy to it. I had too many other things going on. That's life. Anyways, I'm wondering, is HEX still highly relevant? Is it going to pump? Or is HEX done? Everybody's moved to pulse. Should just sell it and move on. That is a big question that I'm looking to answer for myself. Again,

it's not really about me being the smartest guy in the room. It's about us growing and learning together as a community. PulseX provides decentralized trading and liquidity. PLSX connects the PulseX token and burn design. I love to hear that there's a burn design. That certainly uh gets my interest. INC that's token [music] incentivizes selected liquidity providers and bridges connect outside assets to the ecosystem with something so niche as this type of ecosystem, these bridges become pretty much the lifeline of people getting in and out of these ecosystems. Once those layers are separated, we can ask better questions about each one of them. What is the payoff? Take a look at the chat. All right, looks like we're caught up. Thank you for dropping those links, Melissa. I appreciate you. And uh everybody consider hitting that like button. So, the

payoff is that viewers no longer have to accept PulseChain as winning or PulseChain is dead >> [music] >> as a complete argument. They can ask things like, "Is the network usage increasing?" Now, one thing I'll say about metrics when it comes and it's always been like this. I'm not sure if it's on purpose or if there's like this big kind of boycott Richard Heart kind of thing. That's what it's always seemed like to me [music] when it comes to Hex, right? He does come off as trying to be the smartest person around. He does come off like he's got it all figured out and everybody's dumb. Is that genuinely who he is? Is that kind of the way that he generates controversy because he's smart and generating controversy is just free advertising, right? People hate you and they talk

about you. Well, you do it enough and people know who you are. And as they say, any press is good press. So, is he really like that or is it just part of the overall scheme of promoting Hex and Pulse? Anyways, >> [music] >> another thing is is PulseX generating meaningful trading activity? Is the liquidity deep enough to enter and exit? Are people using applications other than trading tokens? Where do the rewards originate from? Which risks belong to the blockchain and which ones belong to bridges and applications? Bridges being just a big exploitation risk in just about any ecosystem, right? That is how we move from crypto opinions to crypto intelligence and raising that crypto IQ. So, usually I break this up, but I'm going to get right into it because I am highly motivated to learn and who

knows what as we're deep diving here we're going to find to go look up on our own time. So, the entire ecosystem in one map. Think of PulseChain as the infrastructure. PLS is the resource used to operate on that infrastructure. PulseX is the marketplace built on top of the infrastructure. PLSX [music] is an asset connected to that marketplace economic design. I think that they kind of could have did themselves a big favor here by by making these names making the names a little more unique, right? Because PLS, PLSX, [music] and PulseX are all so close together. Now, PulseX is a marketplace. I don't think that there's a token called PulseX, so that helps a little bit. Really, you're just looking at this PLS and PLSX. INC is used to reward liquidity in selected pools. INC, one that I'm not

familiar with. I understand the idea, but I haven't heard about it a lot. Hex is a separate token, and Hex comes before all of this other stuff. And time locking contract that operates within the border environment, which is making me wonder, should I be time locking up my Hex? Cuz it's just sitting in a wallet somewhere not doing anything. Uh these assets may react to the same community sentiment, but sharing an ecosystem does not mean sharing the same utility or economic model. And again, this is Monday. We're laying everything, we're putting all the cards on the table, we're putting everything on the table so we can see where it all is. This is not about good or bad quite yet. PulseChain is the settlement layer. This is just about making sure that we understand how this works. [music] PulseChain

is an independent Ethereum compatible layer one. Its compatibility means developers can use familiar Ethereum wallets, contract languages, and development tools. See, I didn't even know this part, uh that it is compatible with Ethereum. A lot of times all this Hex and stuff feels like they built their own thing and it's a private club. It's kind of how it feels a lot of the time. However, transactions on PulseChain are finalized by PulseChain's own validator rather than Ethereum validators, right? So, it's not a layer two on Ethereum. Let's be clear. Even though it has EVM compatibilities, doesn't mean that it's actually on the Ethereum network. Its native asset is PLS. Users need PLS to pay transaction fees, interact with smart contracts, trade through decentralized exchanges, move tokens, and participate directly in network validation when meeting the requirements. When evaluating PLS, the

relevant question concerned demand for PulseChain block space. Talked about mempools, block space, validators, maximal extractable value, MEV, all of these different type of things before. So, hopefully that stuff serves you well as we get into this. And I'll start over here. When evaluating PLS, the relevant question concern demand for Pulse Chain block space. Transaction activity, validator participation, and the number of useful applications operating on the network. That is a different analysis from evaluating HEX or PLSX. So, this is very focused on just the PLS token right [music] this moment. What the Ethereum state copy accomplished. So, why did they do this copying of Ethereum state? So, Pulse Chain did not launch as an empty blockchain. Its genesis included Ethereum system state through block 17.2 million something. You could read all those numbers, not exactly valuable. Existing accounts, token balances,

NFTs, and smart contract state were reproduced on the new network. Pulse Chain mainnet is where that comes from. But, three things were not copied. The market value, external backing, and future activity. Now, why did they do this? I'm I'm pretty eager to figure out why they did this as well because I don't know much about this. An Ethereum token and its Pulse Chain copy became separate assets operating in separate economic environments. And for myself, I almost need to read that again. An Ethereum token and its Pulse Chain copy became separate assets, right? Operating in separate economic environments cuz one was operating on Ethereum still, and the other one is operating over on the Pulse Chain. The copied contract might contain identical code, but users, liquidity providers, issuers, oracles, and administrators could choose not to support the PulseChain version. Code

can survive a fork while the surrounding economic system does not. That distinction becomes extremely important when examining copied stablecoins and wrapped assets later this week. Hint, hint on what is coming down the pipeline in this series. HEX is an application-level economic system. And this is where we're going to pick back up in a minute. I do want to give you guys a moment to take a deep breath. Who here has has uh used the PulseChain ecosystem? I haven't interacted with it a whole lot. Let's refresh that. I don't think these are relevant anymore. Oh, they are. So, Meta Dao is up 21.3% Santa Coin Network 16% and our top loser of the day is Conflux. Pretty sure that's a Chinese project. Or I could be confusing it with something else for sure. Gram Ton Coin's down 5%. Melissa says,

"I'm liking the deep dives." Well, that's good cuz that is what we are all about. You know, you know. And I did want to give us a minute here, but I don't have a lot of other stuff to jump back into. So, to waste no time, I think we'll get right back into the education. Usually, I start the introduction a little earlier. That allows me to break it up a little bit more. We do have news. Let's do uh I'm going to get this ready. I haven't interacted with PulseChain ecosystem. I had a feeling that you had. All right. So, HEX is an application level economic system. HEX is a token with a smart contract time-locking mechanism. [music] Users can lock HEX for a chosen period of time. The contract calculates shares based on the amount and length of

the commitment. I probably should have already been doing this. I've been holding it for years. And it's a very small amount, so probably would have been good to have it have it locked up. Those shares determine the user's portion of future HEX distribution. I don't really know a lot about the tokenomics of HEX. That's another big one. The important distinction is that HEX time-locking does not validate transactions or secure PulseChain. It is commonly described as staking, but it is different from a proof-of-stake network validator [music] or validation. Its primarily rewards come from newly issued HEX. Penalties associated with certain earlier or late staking endings, right? So, if you end your staking before you said you were going to, there can be penalties and that is distributed as reward to the people who didn't do that. That means the contract

can operate as designed while the token's dollar price moves independently. [music] Tomorrow we will be going deeper into T-shares, inflation, penalties, and the difference between earning more tokens and earning a positive real return, diminishing returns if you will, uh a concept that you should be somewhat familiar with. If you're not, well, you should show up tomorrow and raise that crypto IQ some more. PulseX is the liquidity center. PulseX is the ecosystem's primary primarily I don't know. I can't talk anymore. PulseX is the ecosystem's primary decentralized exchange. So, PulseX decentralized exchange. Instead of matching buyers and sellers through a centralized order book, it uses liquidity pools. Traders exchange one asset for another against tokens deposited into these pools. Liquidity providers make trading possible, but they accept risks including impermanent loss, token price exposure, smart contract risk, then liquidity, and [music]

incentive token dilution. PulseX is an important PulseX is important because the ecosystem can have thousands of tokens. But, without usable liquidity, those tokens are difficult to price or exchange. A recent DeFi Llama snapshot placed PulseChain DeFi total value locked around 54 million with approximately 4.9 million in 24-hour DEX volume. It's pretty small. PulseX represented roughly 41 million of that tracked total value locked, demonstrating how central it remains to the network's DeFi activity. These figures fluctuate and should be treated as a snapshot, not permanent values. Getting data on PulseChain from things like CoinGecko and stuff can be very difficult. Looks like you really got to go right here, current PulseChain data. We could probably open that in a new tab and take a look at that. See what See where it takes us here. DeFi Llama, here we are. Maybe

DeFi Llama does a better job here. Let's see what we're looking at. So, stablecoin market cap 32 mil. I mean, that's like a meme coin. Only 54 million. I mean, just to [music] remind you, CashCat, a new token, has like 65 million in its market cap. PulseChain supposed to be a much more serious project, but doesn't get the exposure and attention. It only has 54 million. Now, I'm not saying that means anything positive or anything negative at all. Just saying, think about it. Chain fees in the last 24 hours $1,043 >> [music] >> and $436. Does that mean anything? I don't know. Maybe the fees are really cheap and therefore it would not generate a lot of fees in a 24-hour period. The chain revenue is even less. Again, doesn't necessarily mean good or bad. It could be specifically

built to not charge you a lot of money or build a bunch of chain revenue cuz that revenue has to come from somewhere, right? So, there's all of those things. DEX volume 4.8 million. Pulse price is point zero zero zero zero, right? PLS market cap. See, this is where I get lost. The market cap is zero dollars. So, do we not have any ability to know >> [music] >> how much money is in PLS? You know what I mean? Every other coin we're able to like get with the program and know the market cap. No market cap. PLS fully diluted value is Then it turns around and See, this is where I don't know what to to make heads or tails of it. Maybe somebody understands this even better than I do. But, if the price is super low

and the market cap is zero, how is the fully diluted value a billion dollars? I don't know. How can you have a billion-dollar fully diluted value and have a zero dollar market cap? That doesn't make any sense. So, PLS, PLSX, HEX, [music] and INC are not substitutes. Each token is exposed to a different economic question. And take a minute to lock in because this is really where you raise your crypto IQ. PLS, is there sustained demand to transact on a secure pulse chain? PLSX, is PulseX producing trading activity fees and enough demand for its token uh mechanics to matter? HEX, are users willing to acquire and time lock HEX? Is there sufficient liquid demand when that stake matures? And INC, are liquidity incentives creating durable liquidity or activity that disappears when rewards decline? Their prices may move together because

traders view them as one Richard Heart ecosystem. Fundamentally, however, they should be they should not be evaluated using identical measurements. Number seven, follow one user through the ecosystem. Imagine someone begins with USDC on Ethereum and they want to purchase HEX on pulse chain. First, that person uses a bridge to get them into the ecosystem. The Ethereum USDC is locked and a corresponding representation becomes available on pulse chain. How a lot of bridges work, right? Second, the user needs PLS to pay transactions. Third, the user visits PulseX and exchanges that USDC for HEX. Fourth, the user chooses whether to that HEX liquid or time lock it through HEX contract. That simple journey contains several separate risk layers. Ethereum transaction risk and fees, bridge contract and and re-layer risk, of course, PulseChain network risk, token contract verification, PulseX liquidity and slippage,

HEX price exposure, and time lock-in penalty risk. The blockchain can continue operating even if a particular bridge token or liquidity pool experiences issues. Understanding which layer failed is essential. What today's numbers do and what they do not tell us. Total value locked tells us how much value the tracker associates with DeFi contracts. It does not tell us how much decentralized the ownership is or how many individuals users contributed to it, right? And again, metrics seem to be a little hard to get because of how small this ecosystem is. Decentralized exchange volume tells us how much was traded. It doesn't tell us whether the trades came from new users, reoccurring arbitrage, or a small number of wallets, wash trading, and things like that. Fees show that transactions occurred. They don't automatically become profit for every token holder, right? Tokens Tokens

that are burned reduce the supply. They do not measure demand, though. This is really good IQ-raising sauce that you can pretty much use in a lot of different arenas in crypto. Price measures what the latest market participants are willing to pay. It does not independently prove adoption, security, or usefulness. Throughout this week, we will be avoiding using one convenient number as a substitute for the entire ecosystem. The questions that matter next. As the series continues, keep these questions in mind. Is the ecosystem attracting users who were not already part of the HEX community? Are developers building applications with uses beyond trading related tokens? Is liquidity deep enough for larger users to enter and exit efficiently? If it's not, they're not going to bother with this ecosystem. How dependent [music] is activity on PulseX? Are bridges and stablecoins trust assumptions

clearly communicated? Is activity sustainable without token incentives? Can the ecosystem continue growing independently of Richard Heart's public presence? That's a big one. And does usage remain active during extended periods of weak token prices? Those questions will eventually produce a much stronger conclusion than simply examining whether PLS or HEX had a green day. We don't want to get locked into just low IQ thinking. Was it green today? Was it red today? Was it green this week? We want to know fundamentals, tokenomics, how those stack up, burn rate, all of those type of things become highly highly important. Let's bounce over to some news. Let's see if there's anything really worth touching. Clarity Act is in its final pre-recess push. Bernstein says Clarity Act stall could hurt crypto sentiment. Of course it could. Of course we always Here's something I really

want to say. Doesn't matter a whole lot because it's not really going to happen. But if people really did raise their crypto IQ, we could get away from a lot of this news related up and down. [music] Right? Because as a lot of people point out, The Life Hers has pointed out many times, it just makes a lot of sense. When we have a narrative like uh you know, the Clarity Act, they use it to pump it and dump it and pump it and dump it and pump it and dump and if people actually just knew how relevant it was or wasn't, if people really knew what the Clarity Act did or didn't do, then they wouldn't be so terrified when they're like, "It's [music] on. No, it's off. No, it's on. No, it's off. We're going to pass

it. No, we're not." You know, and then they freak out because they don't really know what the Clarity Act does. Or the Genius Act. Most people still think that the Genius Act is the Clarity Act, that they're the same thing. They're not. BlackRock launched two tokenized money market products. So, BlackRock launched two on-chain money market products. This BST BL, a tokenized share class on Ethereum for existing Treasury base liquidity fund, and a BRS RV, [music] a new stablecoin reserve vehicle with daily dividend reinvestment and multi-chain access. Both are designed to qualify as eligible reserve assets for permitted US payment stablecoin issuers. Under the Genius Act, again, knowing what these things do, why does the Genius Act give them the ability to do this? Why is that related? You either know or you don't know. BlackRock is not just tokenizing

funds for crypto hype. All right, BlackRock is not just doing this stuff so that we get like a green day in the market. It wants to be the reserve manager behind the stablecoin economy. Everybody does. Uh if you understand the petrodollar, you know what the petrodollar has done for the United States. It has kept the money in the United States. Stablecoins USD are going to do that, but on a magnitude that the world has never seen. It's happening. That's why everything is focused on stable coins for the Clarity Act, the Genius Act that came before it. They're all about stable coins. There's a reason for that. If you don't understand those things, you need to raise your crypto IQ because that can be one of some of the biggest follow the money kind of things that you could really

be aware of right now. Tokenized cash is now directly pressuring Circle. Morgan Stanley downgraded Circle from an equal weight to an underweight and cut its price target from 106 to $38. A lot of pressure on Circle, which is interesting because USDC was seen as the alternative to USDT. A lot of people have talked about how USDT is going to be for non-Western world, USDC for the Western world. Is that going to be fact? Now, I do think that USDT is going to be for what is considered non-Western society. But is USDC going to be the predominant stable coin here because you have other players coming in here and there's a lot of fud against Circle. So, we could reserve income sentiment, uh lower margin transaction revenue. Basically, stable coins are still a huge adoption story, [music] but Circle's business

model is under pressure because everybody wants a piece of the reserve income. Everybody wants a piece of the money that comes with running a stable coin. It's just too simple, too easy. Now, regulation, that's a different thing. That's not simple and easy, but as far as like having a blockchain and a stable coin and people use it, that's not all that difficult. Uh DEX hit a record share of spot crypto trading. So, on-chain trading is becoming more competitive, not just ideological, but practical. And uh you know, for a long long time you wanted to trade, you used a centralized exchange. So, cold card wallet loses losses maybe near 114 million. I see so many people kind of one taking this seriously, which is a good thing. Okay, I love to see people taking things seriously. Cuz when they take

things seriously, they're highly likely to educate themselves about what all of it means. Here's something I really want to point out though. Before everybody goes running from the hill and like moves all their stuff from a cold storage wallet to I don't know, a centralized exchange or something like that. This exploit comes back to March 2021. It's 2026. That was 5 years ago. In 5 years, it's going to sound bad, but they've only got about 5,200 addresses. It's not a lot of addresses compared to what is out there. The losses are only around 114 million. Again, if you're a normie, and I say that including myself, right? If you're retail, 114 million sounds like a lot of money. But in the scope of a multi-trillion-dollar asset class, 114 million is not a lot of money. Now, the one thing

I keep meaning to look into, maybe one of you guys could let me know, is uh let's see. What do we got? This Dave Engaz Music. Crypto is dead. It's not making enough people money. Okay. Uh I don't know where you are in crypto. Crypto is not dead. It's far from dead. If it was dead, you would not have the United States bothering to pass a bunch of legislation and stuff. Um it's called a bear market. I don't know, maybe you're new around here. You've never been through a bear market. This is a bear market, and it'll probably be over around October 5th-ish by the new year, and we'll start moving up. It'll move up slowly at first, so you won't notice that the bear market is over until a bunch of money comes rushing in, and then you'll

probably run in at the top of the market, buy, and then get dumped on. And then you'll probably [music] be in somebody else's chat talking about crypto's dead. That's what happens when you don't have a high crypto IQ. And I'm not implying that you're not smart. I'm just saying you rather know this market or you don't know this market. And I highly doubt you're even still here. Cold card wallet it sounds to me like something that has been around for a while and maybe wasn't set up very well from the beginning, right? Because the whole thing is that the seed generation was too predictable and wasn't, you know, random enough in its software randomness. So, you know, as it says here, one of the scariest wallet stories, but the thing is, you know, scammers, they don't stop. Uh exploits,

they don't stop. If they could only get 114 million from 5,200 addresses, there's a reason. If they could get all the money in the world from all the addresses, they would have done it. They wouldn't [music] not do it, right? And so, there's obviously some kind of limitation to where this exploit lives. But, that's kind of like the good news. The bad news is of, you know, quantitative or quantum computing, quantitative, same thing. >> [music] >> And all of this AI and exploits, who knows where that's going to lead, and who knows how secure the things that we think are secure actually are. So, if you have a cold storage wallet, the best thing I can say is make sure it's up to date, right? Make sure it hasn't been sitting somewhere for 2 years and you've never plugged

it in and updated any of the software and stuff like that because that's how you get very out of what is relevant for security on whatever chosen cold storage you you're out and that opens you up to exploits, right? So James Loop, which you I Jameson, I have no idea who that guy is, says cold card exploit show the limits of don't trust verify. This is these type of things they come across very scary and I'm with you on it, right? I hold some things in cold storage wallet. I don't hold everything in a cold storage wallet. I I spread things out because I don't want all my stuff in one place, right? But what I will say is if you have a good crypto IQ, you can kind of read between the lines. If you don't, you're going

to read this stuff and be terrified. Self-custody is still powerful, but users are trusting hardware vendors, firmware, researchers, and best practices more than people would like to admit and it's true. Your cold storage wallet is a hardware from a hardware vendor. It's got firmware in it. And they're doing best practices, right? That we know of. That's you know, nothing is perfect. There's a limitation to things. They have to keep upgrading and things like that. Double O Zo in the house. I was just saying I hope that I saw you today and there he comes running in. I appreciate you. Says yo, crypto is not dead. Yeah, the we get these all the time, Double O Zo. Well, not as much as you might think. But there people come in and they say something negative about crypto. They don't even

stick around long enough to have a conversation because they have low crypto IQs and they think that they're right. No matter what, they think that they're right because I don't know, they got hurt. They bought top of the market. They're way down. They don't understand four-year cycles. They don't have a good crypto IQ as we like to coin that term here on the channel. And it's unfortunate cuz if they stuck around they might learn a thing or two. But uh double O zo you know what it is. Crypto is not dead. We're in a bear market. It's happened many times before. An FBI counterintelligence agent was charged over alleged crypto theft. Is this the Uh there was I don't even know if it was FBI. I'm trying to remember what the story was. This reminded me. I wonder if

this is part of it. There was some law enforcement they were doing something with some seized cryptocurrency and whoever the agent was his son stole a bunch of the money. I don't I don't know why he had access to his father's, you know, computer and stuff for where I don't know, but he stole a bunch of money. Uh the supervisor FBI counterintelligence agent with top secret clearance. Wow, they're really trumping this up. Was arrested and accused of stealing about $1 million in crypto. I mean, I'm sorry, but if you're a counterintelligence agent with top secret clearance and you're throwing it away for a million dollars like I don't know, maybe in like 1990, you know, 1930s that was a lot of money. Today a million dollars is not as much money as people think it. I'm not saying it's

not good money. But it's not what it used to be. And crypto from wallets tied to people the agency had investigated. Court filings say he allegedly used Kraken, Swei land, and Slush wallet, which is on the Swei ecosystem, and investigators found AI chat questions about leaving the US with around $1 million. I don't know what his IQ is in general here because that's just not enough money. You're going to run off out of the United States potentially even being like a suspect in somebody who they're looking for. I mean uh a a 50 million, a 100 million might get you somewhere, but 1 million I don't think you'd be out of money so fast. You move to another country, you're probably balling way too hard. A million dollars not going to get you very far. Once you bought a

piece of property or something somewhere if you were smart your million dollars would be very dwindled down. [music] And if you just if you thought you were going to rent to kind of avoid any exposure and people knowing, then you're going to be out of money much faster. So this is a law enforcement integrity story, right? Call she see uh CEO prediction markets compared the New York lawsuit to attacks on Uber and Airbnb. Of course, they fought those models as well. Prediction markets are becoming one of the biggest crypto policy fights. Finan- There's money. There's money. Everybody wants a piece of that money. Everybody wants to make all the money. As we said in the beginning, Prime Minister was talking about there's just too much greed. And greed knows no limits. Numbers don't have an end. It's actually for

a lot of people who probably don't know a very famous Bob Marley quote where he says like numbers don't have an end to them. And so if you chase money you're basically going and chasing something that has no end to it. So you're forever going to be exhausted cuz like you might be a normie and you want to make a million dollars. Then you make a million dollars and now you're talking about a couple hundred million dollars. Like the million dollars doesn't even matter anymore. Then you make a couple hundred million dollars and you don't even care about that anymore. You got to have a billion dollars. What do you do when you get to a billion dollars? Start talking about a couple hundred billion dollars. If for some way you're one of the very few people who manage

a couple hundred billion dollars, then you start talking about a trillion. You're Elon Musk at this point, right? And there's no end to it and there's no real satisfaction. Anyways, my point here is gambling produces a ton of money. Prediction markets are very crypto because they were born in the blockchain ecosystem environment. And regulators, everybody wants >> [music] >> to take some of that money. Robinhood won UK's crypto registration. So, Robinhood's UK arm was added to the FCA list of registered crypto asset companies as of July 31st. That's pretty much the whole story. Robinhood is positioning early for the next UK crypto rule book. I was never a big fan of Robinhood. Um I wouldn't say that my opinion on Robinhood is really changing all that much. But I will say I didn't realize if you go to like

the parent companies in the whole giant conglomerate that is Robinhood, I didn't realize how big they actually were. So, them competing in the arena of like Coinbase and Kraken is highly possible. So, we'll see. Bitget is exiting Japan. Oh, and that reminds me that um what is it called? BitMart is pretty much closing and is going to be done. I need to move I don't know, the $50 I have on BitMart out of there. Um I used it at one point to buy something on the XRPL network that you couldn't get anywhere else. That's mostly what I've used it for, a couple fringe things and that's about that. So, Bitget is exiting Japan. Japan is becoming more attractive for regulated crypto, but much harder for offshore exchanges that are not properly registered. You're going to see this breaking away

of a lot of you're in the club regulated crypto or you're operating from like some kind of weird offshore Bahama thing and they're just not going to let you participate anymore. That's what regulate That's what regulation does. Proof of attendance protocol is shutting down after more than 5 years. I've never even heard of it. Uh is winding down after issuing about 7.6 million POAPs. Another culturally important web 3 project is shutting down showing how hard it is to turn crypto native into a durable business. Who knows? When you see these things, you got to view it through a lens. Who knows? Did they run their business well? Did they have good incentive for the rewards? >> [music] >> Did they stay relevant? I mean, this is a fast-moving ecosystem. Whatever was relevant when they came out, do they even

have a date for me? No. Um whenever this project came out, probably got a lot of buzz and attention cuz it was new. And if they didn't really focus on innovating and and building, they didn't stay relevant. That goes for any project. XRP holders can now borrow RLUSD through Ethereum DeFi, Flare. Ah, where's my Blues guy? He would love this story. Yeah, Melissa says I don't care for Robinhood either. They don't really have a good reputation with your retail. I would say more your OG crypto users, but time almost heals all in a lot of places. Anybody running into this next bull market as things steam up isn't going to know anything probably about Robinhood's history and that is very beneficial to Robinhood. They can just kind of forget about everything. Um I'm not going to act [music] like

they did anything catastrophic, but people definitely gave them a lot of trouble for stopping trading when certain things were moving and stuff like that. And of course, they had an excuse for why they did it when they did it. And you either believe them or you don't. So, let's read this one. Flare's FXRP was approved as collateral. Yep, nice. Uh in Centora 280 million RSL RLUSD vault [music] on Morpheus. This is really a Morpheus story, right? And Flare's FXRP is now collateral for an RLUSD vault on Morpheus. Letting XRP users letting XRP holders borrow Ripple's RLUSD stablecoin. So, XRP is being pulled deeper into the DeFi credit market instead of just sitting as a payment or exchange-traded asset. Uh as far as I know, there's only one place that you can stake XRP, and that is Firelight. That's where

the F comes from in front of the XRP, right? It's not even I don't even think it's Flare's. So, Firelight is on the Flare ecosystem. The F in FXRP doesn't stand for Flare, it stands for Firelight as far as I know. We've messed around in those things. Uh we we definitely can talk more about that at another time. >> [music] >> But, I have some assets within the Flare ecosystem. If you've been here for even any time, you know, [music] you know Blues Guy, he's very bullish on Flare ecosystem, and we've done videos on the channel about it. And we will probably be doing more videos when he gets to Florida. So, Bitmain keeps [music] building its Ethereum treasury. Tommy Lee, I I like Tommy. All right, he's like the Michael Saylor of Ethereum. He's just making Ethereum highly

relevant. I like it. Uh the corporate crypto treasury story is no longer only about Bitcoin and Michael Saylor. Ethereum treasury companies are trying to create their own version of [music] Saylor's model. Uh has it has his has Saylor's model really worked super well for him yet? I don't think so. I think he needs a bull market to really show off how smart he was for doing that. And uh Bithumb Bithumb is targeting 2008 IPO, South Korean exchange. I don't even know [music] it's it's Bithumb. I don't even know what that's supposed to be. I'm going to go with Bithumb. Uh wants to It sounds very not American. Wants to look like a regulated financial institution before going public. But trust is still the main challenge. Yeah, just being a random, I don't know, exchange from South Korea is not

going to help them a whole lot in the American market. American Bitcoin's president left for an AI-powered infrastructure company. This Matt Roszak is leaving. Trump-linked American Bitcoin to join [music] Giga Energy as chief business officer. People move around in this industry all the time. Somebody made him a better offer. That's the that's the story here. A guy who worked for a company that happens to be crypto is taking his expertise somewhere else. Could it be because he hated the company he worked for? Uh and had disagreements? Or could it just be that this Giga Energy has way lots of money they want to give him and he wants to take it. AI is still pulling talent and capital away from pure mining and towards energy infrastructure. Or does he see like the writing on the wall again about pure

mining? Mining is I wouldn't say it's irrelevant, but it's not as hot and new and trendy as it once was. And uh energy infrastructure, AI infrastructure is new and trendy. Like mining once was. And that is pretty much the news. We will hop over to Sunflower Land, which if you notice my farm looks much different. I have been I've been grinding. Look, we got an upgrade. Bang, and we got a chest. What are we going to get? Ascension Crystal. Uh I have certainly been Oh, I got another another honey farm here. I've been enjoying the heck out of Sunflower Land, [music] and I just wanted to show this off. So, from the creators of Sunflower Land, which I've just recently started to get in into. Can I pick that up? No, I cannot. Uh they have this Yakamon, and

it sounds like Pokémon, and it's supposed to sound like Pokémon, cuz that's kind of the idea. And there's my code. I probably shouldn't have showed it. I don't think it matters. I'm already registered and stuff like that. I don't think you can use it twice. If I had showed it before I ever used it, that might be a problem. But anyways, Yakamon is not fully launched yet, but it's from the creators of Sunflower Land, so I have good hope for it. And it's basically a DeFi Pokémon. I I want to love that idea cuz I love the idea, but I haven't seen anybody really nail this yet. People behind Sunflower Land have a lot of experience in building something that works, and that people are excited about years later. As somebody who's been looking at DeFi gaming for a

long time, especially live on the internet with the audience, Sunflower Land is impressive. Uh not so much for what they built, because the game is not Call of Duty, it's not Grand Theft Auto. That's not my point. My point is the economics seem to work. They've managed to stay highly relevant and continue to develop in a meaningful way, and they have excitement from their community. That's so much more than almost every D5 game that we've shown off so far. And there's a couple of them. Again, Sunflower Land, Zeverse. I'm definitely leaving one of them out. Oh, Kendra. Can't leave out Kendra. And so, you know, these are kind of the top of the game. Axie Infinity has some new stuff out. We tried to look at it. Didn't make a lot of sense to me. Uh it was also

very new. What can happen sometimes is you come look at these things and they're very new. And they're almost too new, kind of like Yakamon. There's nothing to look at yet. And then you forget to look at them for 6 months. And you come [music] back and it's a a hustle and bustle and ecosystem and environment, right? Let's replenish some stock here. And we definitely need to move some things around. So, you click this little hammer over here and then it kind of lets you move whatever you want to move. We can move some things around. All of these things were kind of put here when I I did not have a lot of room. Now we got way more room. Put that tree there. I don't know what that tree is supposed to be at this point. I

don't really think that my well has to be close to anything. I just think it has to exist. Definitely kind of running out of room here. Put this iron and this gold up here. Almost feel like all this gold should just go down here in its own slot. And just leave a little room for new iron and new stone as we expand. Then we have even new stuff, which I don't even know what these are. Crimson and then whatever this one is. Maybe move this down. That looks pretty good. Just trying to keep things manageable here. And we'll move this one up. Looks good. All right. We're going to roll with that. Let's throw some fire. There's so many things going on in this game all the time. Struggle Heart says 333. Thank you for being here, Struggle Heart.

Uh Struggle Heart, are you playing Sunflower Land or do you think this game is stupid? Hey, let me know. Hey, we're going to throw a banana in there. Let's see what the heck happens. I've enjoyed the heck out of it. Mostly cuz I I say this all the time, as much as I love DeFi gaming, like a game like Call of Duty or Grand Theft Auto, I just I don't have the time to sit and like play a game for 2-3 hours a day or even an hour a day. I mean, collectively I might play Sunflower for an hour a day if you add up every little 5-6 minutes throughout the day. But I don't have time to sit around like that. So, I appreciate a game like that. One. But I don't I don't want like an idle

game, right? For me at this point when it comes to any kind of gaming for the most part, unless I'm playing something with my son or something that has a value of its own, right? But aside from that, right? If it doesn't have any monetary value, then what the heck am I doing? Like I'm just wasting my time, and that's very much how I feel. So, at least with these it's like, "Hey, there's there's real money going on and changing hands. I can I can throw things in the market. I could farm a bunch of wood and then come in here and and sell the wood." Not going to make a ton of money. Wood is a very basic uh asset or item. But because everything's an NFT, the more I maybe invest some money or build up, the

more potentially you can get out of it later on down the line. And again, for the longest time, a lot of your video games, they did not like you selling accounts. People usually sold accounts in order to sell items, you know, whether it was their level, their skins, the stuff in their inventory, was frowned upon. It get you banned. If you understand games like World of Warcraft or even uh what's the other one everybody plays? Fortnite. You know, I'm pretty sure to this day if you sell a if you sell your account because somebody wants to buy like all the skins and stuff that you have, a lot of them are not available anymore, like you could get banned. That account could get banned. It's just kind of it's dated at this point. We need to open it up.

Gamers spend money. They should have the right to have some value, right? Stuff like that. All right. And I'm just doing some quests so that we can level up. They just restarted the season. I like that there's like a new season, but it only restarts every 3 months. So you really have some time to like mess with. It's not like every month there's a new season. So let's see if we got anywhere on our rewards. Okay. We're not getting anywhere on these rewards and I don't know why. Usually when I do quests, I I get points towards these uh these different things here and I'm I'm not getting any points. I don't know what that's about. I'll have to figure that out. Need more sand. We need to grow some peppers. We need more sandwiches. We should just skip

this order. I'm tired of looking at that one. And then they just give you something else ridiculous like orange juice. Finally got some fruit trees. And again, we're in the underground hangout part of the night, right? Melissa says, "Touch, grab, press, or smack that like button. It would be truly appreciated." Exactly. Consider throwing a super chat to your boy who who spends hours setting up streams and in streaming, right? The setup, not so horrible. Actually streaming, I mean, not horrible, but it takes time, right? And I I'm here 6 days a week. And I'd really like to be here seven. If you'd like me to be here seven days a week, smash that like button. Subscribe. And uh, consider joining our membership so that I can make this a full-time everyday business and just crank out the content for

you guys. Let's see. Do I even have any skill points anymore? Oh, I do have one skill point. I think we're going to save that though. Cuz all the good stuff you you have a whole skill system like there's a lot to this game. It looks very simple at first. The more you play it, the more there is all kinds of new stuff constantly come out. To show you a good example here, let's go take a look at somebody else's farm. You can help out other players. I think it's this uh Leroy. Is this Is this I think this is a good one. Yeah, look at this thing. I mean, he's on a volcano island. He's expanding. His territory is ginormous. Very surprised it's letting me do this. I think it had said I'd already done all of these

for it today. And you can help out other farms. There's certain items in farms that you can pretty much only get by putting them out. Look, he even has his name written in here. Pretty dope. And it's good cuz it kind of gives you an idea for what other stuff there is in the game, even though I don't understand any of it. Like, what are these? What is that? >> [music] >> I know what that thing is. What are the What is this? Looks like a factory. Very interesting. But, it just shows you there's a lot to go in the game. So, I mean, that's one thing, and then you you can bounce right over into Khendra. But, before we do that, let's go to Chainers real quick. Do our usual stuff for Chainers. And I'd really like to

combine these. We're going to pick up a few things here. And see if we have what we need to upgrade. No, I must be not clicking the right buttons here. No, that's not what I want to do. They keep changing the mechanics on these. And so, I'm not exactly sure what I'm supposed to be doing. I really want to pick that up. Yeah. What is going on? Let's refresh this. Everything is kind of merged together in Chainers. Like, you merge things to make higher level stuff. Oh, it did. It picked that thing up that I definitely said not to pick up. Pick that up. Definitely need to pick these low level. So, you start with like a cardboard one, which is common, then you go uncommon, rare, and up the rarity chain there. Let's go into our merge bot

here, or our workshop. And click all available. Now, of course, I can make this common wood plot, but I want to see Ah, I am short one fertilizer. Let's see if we can get one fertilizer real quick. See how difficult that is. Let's go see what our daily's are. Now, we need one regular fertilizer. I know I'm going to get it on day three, but I'm not going to leave that stuff sitting around. Proto flower. Let's go to our atom caster. Oof, fertilizer's not even Ah, so there's different tiers here. I really need those 15, but there's no guarantee there. I'll just go with the free one for now. And we got some marigold seeds. We'll play our mini game real quick. Get our free item here. Really need a fertilizer so I can upgrade these things. Otherwise, I

got to put them all back down and plant some stuff in them. Chainers is just kind of a daily grind. Usually, the only time I put [music] in the chainers is couple minutes that we play it on stream. Granted, we we do it pretty much every day. But, it's not a high it's not a high uh time consuming thing. I definitely play a lot more time of Sunflower Land in a day than I do dealing with chainers. And again, shout out Melissa, double ozo. I appreciate you throwing a super chat to say that crypto is not dead. And it's interesting, people just don't get it. All I can do as somebody who's trying to build, lead a community in this environment given what it is right this second, is just be extremely patient with people. And understand that you

can't know what you don't know. And a lot of people don't know much and they think they do. So, they come into places and that's just not pertaining to crypto. That's not just me trying to defend crypto, either. It's a lot of things. And they just go throw opinions around. Most of them are not very well put together or thought out. So, you can't ever take them too personal. That's my point. I don't take it personal when people do that stuff. But I do love to see people come in and say, "Hey, we don't believe it's dead." You want to believe it's dead, that's fine. I mean, you still took the time to come into the channel and drop a chat, so if anything, I'm bullish on that. Sometimes I almost wish more haters would come in here and

drive this chat up because honestly, it's it's actually really useful to the algorithm. The algorithm doesn't really care what people are saying. It just wants people saying something. It's kind of the point of a lot of the giveaways a lot of the time is just to get that chat running early in the stream so that we can draw more people in. But hey, bear market vibes, what can you say? What can you say? And as Jim Rohn always say, if you don't like something, >> [music] >> uh just move cuz you're not a tree. It's true, but it's also hilarious at same time. All right, we're well past Part that annoys me about this game is you can it's almost somewhat more enjoyable about the time that you're done playing it cuz as soon as you get to 1,000,

there's not much more point to play here. See what we get. Please be some fertilizer so I don't have to put everything down for no reason. And not fertilizer. All right, well, back to the farm. Put everything back down. I guess I could upgrade the low the low level ones, but it's just not even worth doing. Let's place this down. It's a long road cuz even if I can put these two rares together, I'm not going to have enough to put these uh epics together. Matter of fact, I wonder what you need to put two epics together. Plots. I hope that the epics actually use legendary fertilizer. See, why do they use Why does everything use normal fertilizer and I just have like a ton of legendary fertilizer? You'd think legendary fertilizer would be like really useful. I don't

even know what it's used for other than to speed things up. All right, let's merge some things together here and make sure that we don't spend any fertilizer doing it. Cuz that would set us back a little bit here. So far, so good. No fertilizer used on anything. I'd rather use the in-game currency than fertilizer at this point. I wish I could just buy it. That would be really nice. Make some pig food. All right. And come back through, claim everything. Then we got to replant here. Kind of gives me some sunflower vibe with all the planting and stuff. I would love to see Chainers really do a lot more. Seems like all they do is launch I mean, I'm not going to complain about the free BNB and stuff that I've got, but seems like all they do

is kind of launch like a tier, paid tier kind of I don't know, monthly, what do you call that? Let me show you what I'm talking about. Rewards. Got the daily rewards and then you have the missions. This is what, seasons? Yeah, the season pass, right? But what I don't really like about it is that sure, you have a basic tier and you can get some stuff, but it's so geared towards spending money. Now, I play this a lot and I get some free BNB out of it. Not trying to knock it, but at the same time I'm not going to not say the obvious things about it. You have a free pass, you earn a couple of things. That's cool. But everything is just like pay, pay, pay, pay, pay to get anything out of it. And it

just doesn't feel like there's enough going on inside the game without having to pay. That And that's just a downside. And it's like people are not dumb. They're They're going to realize that. Now, you do get some free value out of it, right? Let's plant some things and then we'll we'll show how much BNB we've earned so far. Okay. Why is it doing this? And again, welcome to the underground hangout part of the night. I'll be wrapping up the stream soon. They tell me I'm not supposed to tell you guys that I'm going to get off soon cuz you'll all just leave. Uh but that's okay because I am getting off soon. It's funny. And like a lot of the things that they tell you like to be worried about I don't know. Sometimes I'm not worried about. And

it always seems to to pay off to live that way. Just Just thinking out loud here. Drop some pig food. All right. And that pretty much concludes the show. It's awesome to hang out with everybody. Stay underground. Stay crypto. You know what it is. I would love to hang out, honestly, on here for several more hours, but I have many other things that I got to do on unfortunately, and I mean that. It is unfortunate. Hex. Been a lot of fun learning about Hex tonight. I really needed it. And we're just getting started. We're just laying everything out on the table so everybody can see everything for what it is. Tomorrow we're going deeper. And I hope that everybody is ready to do that. So, stay underground. Stay crypto. I'll catch you on tomorrow's stream 8:30 New York time.

Smash that like button, subscribe, become a member, all of that fun stuff. And everybody have a great night. I will see you on the flip side. Good night, sweet prince. Hey, Cam's still here to the end. Uh good night to you. Hilarious. Uh seriously though, I appreciate everybody. I'll see you guys tomorrow night. Underground Crypto out. Later, Cam's still. Thanks for being here.