Transcription
The US government just gave us a new list of altcoin favorites. Chosen few that look like they have a major potential for full-blown governmental integration. Now, there's a lot of misreporting on the altcoins that the government has chosen. So, we're going to cut through the noise and just give you the data straight from the source.
Now, this is the post from the US Commerce Department. This is the department that just made a huge, huge announcement regarding crypto integration. Release here. Department of Commerce is now posting second quarter GDP data to the blockchain. It's only fitting that the Commerce Department and Trump, the crypto president, publicly release economic statistical data on the blockchain. We are making America's economic truth immutable and globally accessible like never before, cementing our role as the blockchain capital of the world. And everybody has to admit that 3.3% GDP growth is impressive. This is the quote from Secretary Howard Lutnick. He's the commerce secretary.
Now, this is a press release from the commerce department that shows us which nine altcoins are going to be added. It's technically eight altcoins in Bitcoin plus two oracles. So, technically 10 altcoins plus Bitcoin. So, today the Department of Commerce announces begin posting the GDP data on the blockchain. Now, this is the first time a federal agency has published economic statistical data like this on the blockchain and the latest way the department is utilizing innovative technology to protect federal data and promote public use. So buried there in that sentence is promoting public use. So this is eight chains plus Bitcoin that they're promoting the public say, "Hey, the water is warm. We're okay using these blockchains. You should be okay using them as well."
Now what the department is doing is publishing an official hash on these nine blockchains here. And these are the nine blockchains. And we'll look at the two oracles. Bitcoin, Ethereum, Salana, Tron, Stellar, Avalanche, Arbitum, Polygon, and Optimism. Now, here's the two additional coins. These are going to be two oracles. Uh the oracles that they're going to be using is Pith and Chain Link.
Now, if you don't know what an oracle is, like Pith or Chainlink, they're protocols that deliver realtime financial market data directly onto the blockchain. They'll provide infrastructure to bring off-chain data such as stock prices, foreign exchange rates, and commodity prices onchain for use in DeFi applications. So, Pith and Chain Link's role as an oracle is to ensure that the government published data is further disseminated and secured across these blockchain networks.
Now, here are the 11 Commerce Department blockchains that they reference. And right now, we have them ranked by market cap. I think there's a way to trade this. And I'm about to tell you what I'm thinking here. I'm thinking of this quote from David Lynch. He's a very famous investor who's spent years or decades beating Wall Street. He's published a lot of books. This is from one of his books. During the gold rush, most wouldbe miners lost money, but people who sold them pics, shovels, tents, and blue jeans, they made a nice profit. So, in a way, you have nine blockchains all competing amongst themselves to be the chosen blockchain for the government data. But Pith and Chainlink, they're kind of the the blue gene sellers, the pick and the shovel sellers. So, I think Chainlink and Pith are going to do very well.
Now, Pith exploded on this news. It is up 63% in the last week. Uh, it's it's cooled off a little bit here, but it is now still up 67% for the 30-day, 92% for the 60-day. Chain Link, however, is in the middle of a pullback. It it popped on the news and I think people used a little too much leverage. They tried to long this token and now the token is down 12% on the week and five almost 6% just for today. So, Pith is a much smaller market cap of 1.1 billion compared to Chain Link's 15 almost 16 billion, but I think both of these are going to be good plays in the long run.
Now, if I were to choose one of the other nine blockchains to purchase, I would look at what is not overheated. And on the 30-day, the one that has gained the least is Stellar, but Stellar looks good for the 60-day. So, maybe, you know, be careful with that one. But, ironically, it's Bitcoin. Bitcoin seems like it has the most upside potential on some of these shorter time frames because it's actually down for the 30-day and flat for the 60-day.
Now, it looks like there could be potential upside for optimism. You know, it is down 9.4%. But I don't know if I want a token that is down so heavily in this news, down 4% just for the day. And so, if you look at the the recent pullback, it looks like Polygon could potentially be, you know, weathering the storm a little bit better than the other nine blockchains. So these are the 11 coins being integrated into this GDP data. You know, personally bullish on Polygon, bullish on the oracles as well, and does look like Bitcoin and potentially OP are a little oversold. So these are the ones that are going to be on my radar.
All right, so I'm D4 Discover Crypto, and I'll be seeing you in your I guess government approved altcoins at the top.