ETH ETF recap, EURC on Base and more - The Daily Gwei Refuel #800 - Ethereum Updates

Transcript

hello everyone welcome to another episode of Del refuel W up to latest news in etherum ecosystem I'm your host Dan the 2nd of August 2024 all right everyone let's get into it so today is Friday it is the end of the second week of the eth ETFs uh I will not be going over the Friday flows because I'm recording this at the I guess like beginning of Friday so you won't see the Friday flows till next week but I did say I'll be updating you guys on what the eth ETF flows looks like on a week by- week basis and then eventually like a month-by-month basis probably but the second week has been pretty strong now Nate juracy here on Twitter put out a tweet saying in one week of trading the I shares ethereum ETF so this is the Black Rock ethereum ETF is already in

the top 15 inflows of all ETFs launched this year top 15 out of approximately 330 new ETFs and this was before some big inflows came into black rock this was on July 31st so I would imagine that it's definitely probably top 10 at this point because there was some big inflows that came there but speaking of inflows we have The Far Side website here in front of me uh this table that I've been monitoring for a little while now and I've kind of told you guys about before but essentially we're basically looking at the flows from I think it was the 26th of July uh no not sorry not 26th of July the 29th of July here uh which was Monday uh all the way through to uh to today basically so as I said there's not going to be the Friday flows here the

second of August flows just the 1st of August but you can see here there's two two key things really the inflows have remained strong while the eth E outflows have been we weakening so you'll know that there were some pretty big e outflows last week where you had basically over a billion dollars of outflows right like this's a b pretty big chunk of outflows here which was expected of course but then this week it's been a lot less than that so this week so far there has been if I'm just doing the head math correctly here uh there's been about 200 100 26 230 260 plus the 78 today so about $338 million of outflows uh this week from from eth e only but in terms of inflows we had a few big days so Black

Rock had alone had 170 million plus it's not here right now but they had another I think it was 80 million today or something that like that so they had about $250 million of flows themselves into the eth ETFs um just this week and that's just black rock and then you had the others like Fidelity and bitwise coming in at second and third place and then the the long taale here having less but what we care about obviously is the net flows over over time here and if we look at the net flows this week we actually had a positive day on the 30th of July which was uh which was Tuesday here we had positive 33.7 million and today is also a positive day at plus 25 million and this basically means taking all the inflows um and and and sorry taking the outflow which is which is e

and then adding the inflows to that and that get you the positive number here and that was the first positive day on the 30th since day one and then we have the second positive day now but as I said the eth E flows are are basically reducing this week we had 210 million outflows on Monday 120 on uh Tuesday 133 on on Wednesday and then Thursday was 78 million don't know what Friday is going to be but we'll see how that how that plays out there so it's all playing out as expected I think uh you know big outflows out of eth e to start with and then tapering off over time and then the inflows going into the other ETFs now we don't know how much of the outflows from E have gone into the other ETFs yet I'm sure there is some some uh some outflows

there oh sorry some some uh I guess like flows going to there and there's also a bunch of people I guess like selling BTC ETFs to go into the E ETFs as well which you can actually see if you go to the BTC ETF um Dash dashboard here and actually look at what the flows have been like there's actually been a bunch of outflows this week not out of Black Rock but out of fidelity um and I believe Arc and bit Wiis so there's been a a bit of flows out this week of the BTC ETFs which you can presume have gone to the eth ETFs to be honest considering that there there has been inflows into the eth ETFs which is kind of interesting to see as well because it means basically that people are doing the uh I mean I imagine some people are

doing the kind of thing where they're like okay well I want market cap weighted exposure to Ethan BTC I'm going to be 70% BTC 30% eth and then there'll be a group of people who were like only buying the BTC ETF because that's the only crypto ETF they had access to but let's say they're much more bullish on eth maybe they're trading all of their BTC ETF for the eth ETFs now so there there is definitely that going on as well but as I've always said to you guys like this is only 2 weeks worth of not even two full weeks worth of data and the ETFs are a very kind of long-term passively flowing vehicle and you can expect these numbers to be up only over time here especially because the eth flows outflows will cease at some point um and there is still a substantial

amount left in there I mean if you actually look at the AUM of all of these uh all these products right now even though e has had that $2 billion of outflows that's that means they've still got $7.2 billion left in there and $1 billion in gra scales eth mini trust product as well so there is still a substantial amount of AUM in those products and then you've got the new products which came out like black rocks at 620 actually this is over 700 million a now bitwise at almost 300 million Fidelity at almost 300 million so you have uh a substantial amount right one and a half billion in the first two weeks just into these new ETFs not to count the other uh remaining funds in I guess like the mini trust which is over

a billion right now uh and also the E Gra obviously we can expect outflows to come out of that but I think that really uh there's going to be a substantial amount that stays there so it's very strong it's been a very very strong launch and I'm I'm super excited to continue watching this go on and as I mentioned just before I will be covering this on a week by- week basis going forward for probably the next couple months and then I'll switch to a month-by-month basis because I mean I've seen this in the delu Discord Channel a bunch of times as well where people like to hyper fix out on the daily flows it doesn't matter and you can actually look at the price to see that it doesn't matter like the price of E has still just gone sideways right during all of this basically I

mean it's down a little bit from when the ETFs launched it's at like what 3160 today ETFs launched and eth was like 3500 or something like that but if you take the the range that eth has been in since basically March I think uh it's still in that range so that's why I I think like hyper fixating on these daily even weekly kind of movements with the ETFs is is not relevant it's not relevant to price it's not relevant to anything the the price stuff plays out over the longer term the ETF stuff plays out over the longer term so that's why I've kept it on a to a weekly update basis now with the ETFs for the refuel and then we'll shift it to a monthly basis because I know people are still interested in this and they want to get my take on this but at the same time I I

just don't think it's relevant for price like there there is no way really to look at this and make any kind of short or even medium-term prediction on what it's going to do for Price longterm obviously I strongly believe that it's going to be extremely positive for price but short to medium term guys especially shortterm as I've described before is a random walk I mean I I showed my spread shet a few weeks ago where essentially on on The Daily and weekly time frames you have a 50/50 chance of getting it right getting the the the you know predicting what the price is going to be on any given day on a monthly Cadence it doesn't get that much better it's like 58% but on a quarterly Cadence it's around 70% so when you look at it from that perspective really looking at the price of eth every 3 months uh and just

once every 3 months would be much better because that gives you much more signal than looking at it every day looking at it every week and and the same goes for the ETF flows and and this goes for BTC as well and this goes for basically uh all of crypto I mean I think the long tale of crypto outside of BTC and E are even more sensitive to this where they spend so much time basically uh in like performance Ville if you want to call it that where essentially they're either going down against USD or going down against Ethan BTC or they're just going sideways for a very long time this is just how these things work because a lot of the tokens on within the crypto markets they trade as if they're not still kind of really risky things during bull markets when they are you know a

lot of these things are are basically seed stage companies guys they're extremely risky but they trade during a bull market as if they're not and that tends to trick people into thinking that they're buying into something good because it's gone up so much but in reality we're buying into a Mania and most of the time if you actually look at the charts of these things they go down only especially against eth and BTC and a lot of them never come back so you got to be careful there but when it comes to BTC and eth they're very long you know it's it's a long-term bet it's you know there's much more confidence in BTC and eth it's a much less riskier assets but because of that you're not going to get the same volatility and you're also not going to get the same performance like

for BTC to 10x from here that's a massive increase in market cap guys like btc's market cap is what $1.5 trillion or something like that right now if I look here it's less than that cuz we dumped a little $ 1.3 trillion each market cap 380 billion let's let's round that up to 400 billion uh just just for the sake of mattha so 1.7 trillion is in BTC and eth 10x is 17 trillion that is like so much bigger than the total crypto Mark even the total crypto market cap right now and the amount of capital that needs to come in to get us there is a lot that's going to happen eventually it's not going to happen anytime soon it's going to be like a decade before something like that happens so when you look at it from that perspective you can see that yes they're safer assets but

they're also not going to give you those outside returns and that's why people go down the risk curve and stuff like that but I've gone off a little bit of a tangent here but I just figured it was worth reiterating those points there for you guys now last thing on the ETFs before I move on there is another dashboard you can keep on top of if you are uh interested in keeping on top of the ETFs uh well everything that with regards to the e e ETFs not just the flows and this is a dashboard from Hill Dobby he make some of the best dashboards uh that I that I use on dun analytics here but this basically has pretty much everything you would need uh not just flows but also the flows into each of the ETFs the AUM and so on and so forth denominated in eth and US

dollars as well so you can go check that out I'll link that in the YouTube description below for you to do so all right moving on to some tech related news so there is the latest call all call devs call update here from Tim boo on Twitter he's got the highlights here of what was happening basically more of the same I guess nothing major here devet 2 specs are staying as is so we should get a devet 2 for Petra coming soon devet 3 is already being worked on as well it seems like eof is being pushed ahead the eof eips being pushed ahead here even though there was some resistance from particularly the GU team on this uh and there was a bunch of other other kind of discussions happening here but nothing major I think I think that uh everyone's obviously heads down working on Petra right now

there are a couple of new proposals around State expiry some stuff got to do with verical treeses happening but it's more of the more of the same here so if you wanted to to dive deeper into this you can go uh check out this tweet I'll link it in the YouTube description below but as I said work just continues on the Petra upgrade which as far as I know is still slated for uh uh for main net early next year there all right just wanted to put this on your radar so Ian L tweeted out a nice little picture here of basically all of the use cases well not maybe not all of them but like all of the currently known use cases of abss or actively validated Services as part of igen lay here now I've talked about some of these before such as

decentralized sequencing oracles Bridges so on and so forth but there is so much more than that like da obviously with igen da but there is so much more than that as you can see here the abss can be used for things like ai ai execution can be used for databases ZK provs proof of identity like fully homomorphic encryption so on and so forth there there are so many different use cases for abss and I think what's funny about this is because if you actually take a wi of view on this and look at each of these categories there are actually layer one blockchains that have been created for each of these categories so for example for something like decentralized storage there is filecoin there is R weave there's a few others out there that I know of proof of location um that's not uh there are some

deepin products that are trying to do this not as their own blockchains but as the as they kind of like own apps on other chains I know that in the salana ecosystem there's a bunch of this stuff happening there um within ethereum we do have a couple of things happening there's foam uh which is definitely focused on proof of location not its own chain but it's its own app here and then there are other things like AI execution you know there are chains being spun up about that uh to do that but I think the same logic applies here that it does to to layer 2os where I've said in the past essentially that if you're creating a new layer one today you are better off creating a new Layer Two uh new new Layer Two or creating it as a layer two because you get all of these benefits uh

the benefits really I think the biggest benefit is a massive cost reduction you don't need to spin up your own validator set you don't need to get that going you don't need to worry about decentralizing uh out the kind of entire uh layer one because you're already um inheriting that from ethereum if the layer 2 is constructed correctly of course so I think the same logic applies to uh these use cases with abss where essentially an ABS is just tapping into staked e or I guess like restak e tapping into the existing ethereum node operator said and then you get to basically bootstrap these things using that instead of trying to bootstrap It and Boot up an entire layer one and uh basically get the that layer one supported by all of these different exchanges out there like it just becomes a messy thing right it

becomes very it becomes an uphill battle so essentially what Igan L is doing here is collapsing all of those costs collapsing that making it not an uphill battle but essentially flattening it at all so you basically just get a cruisy experience of tapping into this existing nde operator set that's part of ethereum and doing whatever you want with whatever use case you want and as I said like there's a list of use cases here I'll link this in the YouTube description below um but all of these things exist today whether as a ler one blockchain or as some kind of service that is pretty much centralized right or is some pseudo decentralized thing where they say okay well we have a bunch of different different operators working on this but really it's it's not really different operators it's basically the team uh essentially uh asking other

teams or paying other teams and saying to them hey can you run one of these for us we'll pay you to do that whereas uh it's not really enshrined in the protocol it's not really an enshrined thing it's more of a ad hoc thing it's more of a subjective thing whereas within abss you can have a more streamlined process here you can basically there's a Marketplace of not operators that you can pull from and you can do whatever you want whatever use case you want which is I think very cool and get better security guarantees lower the cost here so that's what I'm most excited about when it comes to reaking generally that's why I've said to you guys before that I'm most excited about igen layout because I think that Igan lay has the um the I guess like best team working on ABS infrastructure and

they have the right idea about focusing on abss uh where and they obviously have the most tvl right now in ter and the most Integrations in terms of getting that node operator Marketplace bootstrapped and and live people to to play around with uh but there are competitors out there as I've mentioned there symbotic there's kak but they're focusing a lot on I don't know doing reaking with other assets which I don't think is like the best path forward I think they just doing that because they really need to get tvl obviously to be competitive but I think that iglay is definitely the one that's focusing on the right things which is B basically the long-term sustainable thing of making sure that the abss are looked after the ABS infrastructure is in place and the marketplace is in place there and I should definitely disclose here

I'm an investor in Igan ler but um I'm not saying this because I'm an investor I'm saying this because I haven't really seen much out of the other two competitors and I think there's more than that but I haven't seen much out of the other two competitors in the form of making sure that they have a good a good Marketplace for abss making sure they have good ABS infrastructure I hope they do work on that because as I've said in the past I think competition is overall good but IG L is definitely the category leader right now all right so coinbase has announced that getting on chain is now free there are zero fees to transfer assets from your coinbase account to base in seconds this is pretty like I guess obvious that they were going to do this as I've said in the past coinbase is running Bas they

have a vested interest in making sure that base AC ity goes up and what better way for them to do that than offer free transfers to the Bas network from coinbase to get all the new users on board so you can see here that if you select base from from the coinbase uh website here or the coinbase app you essentially have a free transfer there but if you look at the other chains like arbitrum for example the other l2s like arbitrum it's not that much more expensive it's 1 cent so free versus 1 cent I mean obviously free is better but the thing is is that it's not like it's a substantial jump whereas for ethereum main net it is for example ethereum mainnet it's 75 cents to to send an asset to uh from coinbase to to to ethereum mayet which is layer one so

that's obviously a massive increase over 1 cent and obviously over threee so uh from from that perspective users are always going to choose base or arbitrum or optimism or any other layer to out there because they're always going to be cheaper but I'd be curious to see how many people choose free over over 1 cent and at the same time I think a lot of the time people are withdrawing to a layer two from coin base they're doing it for a specific reason and not just the layer to but like really any chain for example if you want to Mint an nft and it's only on arbitrum well you're not going to go to base them into nft right you're going to withdraw your funds to arbitrum even if it cost you more to do that you're not there's nothing you're not withdrawing to base

because that nft mint is not on base right um and that's just a simple example here but I guess like eventually in the future all of this is going to be abstracted away anyway so it's going to be fun to see how that all plays out and how that looks in in the future but yeah it's just great to see that Bas has um has made it free here or coin Bas sorry has made it free to transfer to to Bas here um and speaking of Bas as well the euro is now on base so Circle Euro C or EC I guess um uh Euro coin I guess it's called here um is now available on Bay so if you're interested in transacting in a Euro or shorting the Euro uh and doing that within the defi within the ethereum ecosystem then you can now do

that on on Bas here I don't know how big I haven't actually checked Euro uh the Euro coin recently in terms of like how big it is I'm going to go on coin gecko right now I think it's very small right now yeah it's like 37.6 million dollar market cap which means it's only 37.6 million euro uh euroc in circulation right now if I'm reading this correctly um I I may uh I may be looking at the wrong one but I think I'm looking at the right one because I remember that I definitely wasn't uh very very big because of the fact that everyone wants US Dollars no one wants Euro the euro um but if you if you look at that and then look at usdc usdc is $32.9 billion so it's like a,x bigger than than um than the Euro coin here but I'm glad to see

that circle is still pushing this I and this is something that comes up a lot when people ask me about AUD stable coins because I'm in Australia I live in Australia I go to local meetups and they ask you know when when is there going to be like a popular or a big AUD stable coin and I'm like well is there demand for an AUD stable coin like does anyone actually need that on chain maybe there's demand for far into the future when we bring everything on chain and the AUD just becomes something that's on Chain by default but in terms of demand for these assets it's very clear that the only demand generally on chain is for USD for tether and for Circle Euro there's very little demand for right now um and I mean every other asset there's not much demand for either because I

guess like if you're on chaining crypto and you want to go to a stable coin you want to go to the strongest stable coin you want to go to the strong I mean sorry if you want to go to Fiat a Fiat Peg stable coin you want to go to the strongest Fiat you're not going to go so so let's let's give a concrete example here for a second let's say you're holding eth you write it up during the bull market and you're like wow okay I think it's things are really he right now but I don't want to go back to my bank I want to hold uh I want to sell off my eth but I want to sell it for something stable you know a fat stable coin obviously and I want to hold it for like a year or 18 months or I want to

hold it until the bare Market's over and then buy eth again so in that example like you're going to go for USD because why would you go into Euro unless you needed to transact in Euro in your in your everyday life unless you needed the Euro for taxes maybe You' cash out some for taxes but then you're not cashing it out for the Euro stable coin you're probably just cashing it all out into usdc or tether transferring some of that to a centralized exchange cashing that out to Euro not a Euro stable coin and then paying the taxes like that because uh you want to go to the strongest stable coin you want to go to the strongest Fiat asset and that is us and has traditionally been USD for a long time now so I think that's a big reason why USD is so popular of course but also

liquidity begets liquidity there's so much USD stable coin liquidity that it doesn't really make much sense to go to anything else especially if you're a big player I mean even if as a small player like the amount of liquidity for Euro um the Euro coin is very low right now whereas for usdc and tether it's absolutely massive like I'm talking billions of dollars guys like this is real whale games here real whales out there they're not going to go into these other things because the market cap is not even close to the amount of money they have like there are whales that have more money than the entire market cap of of the Euro stable coin here that's not to say that it won't keep growing but that's just explaining why the US dollar stuff is so popular and so big is because when money can move so quickly

and so freely and so in in such a like permissionless way on chain you money is going to gravitate towards the the best assets towards the assets that the that people know are not going to lose value over time um and and they're going to be the strongest against other assets and retain purchasing power which is exactly what the USD does in a bare Market it will give you the best way to retain purchasing power if you think that prices are going to dump like 50 plus perent of Ethan BTC and so on and so forth so yeah anyway but you can go check this out if you're interested in this you can mince it now uh I'll link this in the YouTube description below for you to do so all right staying on the layer 2 topic eclipse the salana virtual machine L2 is now open for Builders so you can

now go check this out it's on mainnet open for Builders there's a blog post here I'll link it in the YouTube description below uh but this has been a long time coming as you guys know I'm an investor in Eclipse because I am very bullish on nonm l2s over the long term and eclipse is is one of them because they're bringing the salana virtual machine to ethereum but what I'm really interested to see now that this is open for Builders is what kind of apps are built on Eclipse versus on salana because obviously the natural thing right now now would be for these salana apps existing salana apps to essentially just Port themselves over to Eclipse like a lot of the evm apps ported themselves over to the the evm layer 2 sorry a lot of the um layer One ethereum apps which are evm ported themselves

over to the layer 2 evm uh uh um chains and then also the other layer one evm chain as well because it was very easy it was like a copy paste essentially and they got forked too mind you but when it comes to this like there really is not much to choose from there's salana and Eclipse I don't know any other svm environment that there is to choose from right now so are we going to see all of those salana apps come over to the eclipse chain uh but but are we going to see like apps launch on Eclipse that aren't on salana I think we're going to see both I do think we're going to see some apps from uh from salana come over to Eclipse but I'm most bullish on seeing people build apps that are unique to Eclipse rather than just copying apps

from salana I want to see like the GMX of eclipse for example because GMX was very big on arbitrum it's not a new new thing right it's not a new primitive but it was a new app that wasn't copy pasted from everything anything else and as far as I know it didn't Deploy on layer one it just deployed on on arbitrum and has I think since expanded to other chains but I really want to see something novel deployed on Eclipse that doesn't exist on on salana layer one today so that's going to be exciting to see but yeah as I said uh this is now open for Builders so if you are a builder and you're interested in this you can go check this out I'll look it in the YouTube description below and I'm very much looking forward to seeing this go live for everyone and and open up for

everyone cuz I want to see you know what the fees are like what the speeds like what the ecosystem is going to be like compared to the other l2s out there because obviously there are a lot of l2s today they're all competing with each other um and essentially it's going to be interesting to see what uh how how Eclipse does since it is a nonm L2 because the top l2s today are all evm so Eclipse might be the one that breaks into the non evm Arena here but we'll have to see uh and staying on the topic of non evm l2s movement's public test net is now live so for those of you who don't know movement is building uh infrastructure based on the Move language so this was a language that was invented by Facebook as part of their project Libra um and movement has been doing a lot of great

work in this area now as I said this is the public test net that's live so this is going to be essentially a way for developers to get involved with movement and an L2 on top of etherum using the move language but everything that I just said for salana applies to movement because there are already movement there are already move based chains lives such as Aptos so what I want to see is I don't want to see people copying what's on Aptos over to movement I want to see people building novel products on top of movement on top of the movement L2 on ethereum that don't exist on Aptos because that's how we push the industry for that's how we push uh um the L2 industry for the L2 ecosystem forward uh generally and actually before I keep going I should just disclose here I'm an

investor in eclipse and an advisor to movements like I I whenever I say that I I think people just assume that I'm involved in these projects in some way um but I I in terms of when it comes to l2s I typically get involved with them in any way that I can because as as you guys know I'm very bullish on the L2 ecosystem but I don't know which one's going to win long term and also I'm really bullish on nonm l2s because there's so many evm l2s right now and I believe most of them will will fall off but if we want to push the industry forward we want to on board new Builders into the ecosystem it has to be non evm it has to be uh essentially uh new and novel things that get people excited such as with salana it's rust with

movement it's move and there's others out there like fluent for example it's another one I'm an adviser to by the way that's doing um stuff around blend execution so blending this all together it it's very cool I'm very excited about this like outside of ethereum layer 1 development like the nonm l2s stuff is probably a close second I think tied second with reaking in terms of like what I'm excited about most in the ecosystem right now um but yeah anyway if you are a builder and you're interested in getting involved with either eclipse or movement I'll link both of those things in the YouTube description below uh for you to check out all right so ZK P2P has an update today uh of something that they're working on so they're working on a Marketplace for Consumer digital Goods now you remember that I I highlighted ZK

P2P as this trust minimized Fiat on an off-ramp that you can uh use with small amounts that basically uses ZK proofs in order to uh protect your privacy and and and basically have like a near I guess like trustless onboarding and offboarding experience and creating a P2P Marketplace out of that well they've expanded this from just onboarding and offboarding to crypto into something like uh like a ticket Marketplace for example is the is the example that they've used here now it's not just a ticket Marketplace it's basically just generalizing all marketplaces but in this video they say our first Marketplace will be focused on creating a more consumer friendly secondary ticket marketplace now I don't know how familiar you guys are with the fact that a lot of these ticketing uh I guess like

places like Ticket Master ticket Tech they're very predatory they're not great um and they definitely aren't great for the consumer so ZK P2P is tackling this where essentially uh you can use their technology in order to buy tickets in order to uh sell tickets to other people in order to do this in a peer-to-peer fashion uh which is really really cool so you can go check this out I'll link it in the YouTube description um uh below uh but yeah they they basically give their thesis here about this saying that secondary um ticket sales for uh for sorry secondary markets for tickets are broken expensive unreliable and slow uh they have the worst MPS scores which is an net promoter score which is basically like How likely are you to recommend this to another person score um and zik P2P thinks they can tackle

this with uh cheaper fees you know zero fraud and faster settlement so you can go check this out for yourself I'll link it in the YouTube description below for you to do so all right last up here grow the pie. XYZ has a new feature live on their website they have contract address labels which are now open source so you can check out their new labels page as part of their open labels initiative it makes it easier than ever to explore layer 2 contract addresses so if we go to this page I believe it's linked down the bottom here uh it's labels. growthy XYZ you can actually see what's going on here so as you guys know each contract on um on a layer one or Layer Two whatever chain uses a certain amount of gas and and and I guess does a certain amount of transactions and we want to

track this we want to track this data we want to compare it across chains compare it across different contracts here and that's exactly what grow the p is doing but the problem is is that you want to be able to label this because a lot of these contracts don't have labels attached to them you don't know what they are unless someone has labeled them so they've open- sourced this whole thing where essentially anyone can come in and suggest a label and basically uh make it so that you can see what's actually going on in these contracts you can see that a bunch of these contracts are currently not labeled but there are some that are so for example this contract here is on Bas it is uh Unis swap that and it's Unis swaps Universal router so you can see that that's why that's so popular because it's part of

Unis swap right but then there are other contracts here as I said that haven't been labeled yet but as part of this new initiative here this open labels um initiative anyone can come in and label these and we can get better visibility across all of these different contracts on all of these different chains but I think on that note that's going to be it for today now I wanted to quickly remind you guys that from August 10th I will be traveling around in Europe for 2 and a half months on a holiday uh it was not related to work at all is literally a holiday and as I've mentioned before I'm going to drop the refuel down to once a week um but the thing is is that that's not a promise that's a if I'm doing it once a week I'm doing it once a week if

not then I'm sorry because it just depends if I have time time it depends if I have um enough uh internet bandwidth in order to upload a video uh it will be on my laptop so it'll be a bit different the camera will be different obviously the background will be different and everything like that uh but I'm going to try and stick to once a week but I am going to try and not pay too much attention to crypto generally as well because I want to enjoy my holiday uh and I'm going to be doing a lot of different things you know going and seeing a lot of different sites and stuff um but yeah I just wanted to get to um give you guys a heads up that's coming up August 10th not too far away now I mean it's like what 9 days away 8

days away now so yeah I I'll drop the refu down to once a week and it's going to be quite random when it comes out it won't be the same time you're used to I don't know what day it's going to come out it really is just going to depend when I can record one and upload one uh for you guys uh there but yeah anyway I think that's it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all next week thanks everyone