Transcription
That's not true. Hello everyone, I hope you are doing well. I hope you enjoyed yesterday's video and unfortunately, if it's true, we are not managing to break through this last oblique resistance of 125,000 dollars. The last of the resistances before an acceleration too. You know my opinion, I think we're going to smash it. Although currently we are indeed in a selling environment for Bitcoin. Buying Bitcoin today is madness. We will simply have to wait for very good corrections, very deep dips to be able to reposition ourselves on Bitcoin from a rational investment perspective. Now, we can trade very short-term, very swing trading, scalping, why not? But investing in Bitcoin, it's too late. But there are still a few small cryptocurrencies that are still very interesting. I've tried to share several with you over the past few weeks. Apex, frankly well played. I shared Secret with you yesterday as well, and tomorrow, I will share another potential x100 cryptocurrency that I am currently diligencing and selecting. But unfortunately, I haven't finished my due diligence. So I'll tell you about it tomorrow instead. I will do it this afternoon. I will still talk to you about a project that I have also selected. It's starting to circulate more and more, but I haven't told you about it because we didn't participate in the ICO, and we simply have to wait for a good degradation and the end of the FUD that we are currently feeling on this project. And as soon as this FUD is over, as soon as the liquidity is taken, I think it will be interesting to position ourselves there for the simple reason that two personalities have positioned themselves there, and it's very rare when they position themselves on projects, it's not just anyone. We'll talk about it at the end of the video. But just before, I invite you to join the Discord of the Kings of the Market. You will find the link in the description, and inside, a document called the Strategy of the Four Kings, 18 pages to read. It's a strategy that I've been using for several years, and if you don't have a strategy, why not discover it here on the website les roisubitcoin.com, just below the video. And if you have a little more time, why not benefit from the first two free hours of the Kings' initiative. It's six modules, 2 hours, including the ultimate mastery of technical indicators, completely free, which I use daily, and a little surprise to also do fundamental analysis. Indicator number 7. Honestly, you'll tell me about it. Read the first part and the very end, the conclusion, because it's over 180 pages to read. Don't read them, obviously, you'll understand the subtlety. And I'm giving you a prompt here to be able to diligence and do fundamental research on all the crypto assets available on the market. Let's take a quick look at Marstouf. Thank you for your many shares. In this one, it seems that the least capitalized portfolios, between 1000 and 10,000 dollars, are taking flight. It's quite crazy to observe. As soon as there's a little something, we're talking about 700 million dollars in liquidations yesterday. The thing that loses 2%, there are 700 million dollars in liquidations. We're pretty hot, I'm telling you. You shouldn't do that. The movement has passed. Wait for potential dips. By the way, we just experienced a small dip compared to a bearish trend. We'll talk about it right after, but you shouldn't put yourself at 124,000, 125,000 dollars with 50x leverage, it's strictly useless. So, maybe to hedge and rather in short, possibly, because if we are to talk about a step to take here, well, it's shorts that we should be looking for. Not longs at these valuation levels. So we'll talk about it very quickly. Then we'll move on to stablecoins because I told you yesterday that we needed 100 billion dollars to see an acceleration across all our crypto assets. Well, maybe they are already here. We just needed to look where they are. We've been talking about this for years, and maybe indeed we can reach them, but there will be just one small thing to do just before. You'll see, it will be exciting. Yes, you know, at the Kings, we don't necessarily talk to beginners, we go into hyper-detail. Today again, we will go into hyper-detail from an on-chain perspective, and I will demonstrate to you in a very rational way that we are indeed in a profit-taking environment for Bitcoin right now. So what we are experiencing is the last throes, maybe the upswing if you like, the seasonality, the explosion, the certainty that turns into greed to reach capitulation. But before having this first step of certainty, we simply need to observe what? The evidence. And we are in the evidence. My evidence is that it's bullish. So this evidence must be played. Then, we will take profits in certainties and try to escape greed. We have just passed this trendline, it's just wonderful to observe. The next theoretical level is 150,000 dollars. 145,1500 dollars, and we are just doing this little pullback on a bearish trendline. So yes, my Fibonacci chart, bullish trend, bearish trendline, widening wedge channel, descending and ascending channel, has gone a bit crazy. In fact, I'm marking this just to observe a reaction. If it reacts, it's good, right? It means that the technique is worth reading, worth perceiving. So if it reacts, it's perfect. Now, we can very well aim for a 50-day moving average, a market imbalance here at 116,500,000 dollars. There is liquidity to be sought, and if you want the swing, it's rather at these price levels that you will simply have to act. Before that, either you short because you don't feel it, or you do absolutely nothing and wait for it to pass. Why not live and benefit from a bullish acceleration? And of course, it can go down, we can still lose 5%, no problem. Welcome to the crypto markets, obviously. Well, now that's said, let's take a quick look at something I told you yesterday, namely these famous 100 billion dollars. These 100 billion dollars are possibly already here. Where are they? They are here. So we'll look at it together. We are experiencing a magnificent pattern that is well known in analysis, called diamonds. You have several types of diamonds. You have top diamonds, you have bottom diamonds here, and you have continuation diamonds, which are a bit rarer but extremely violent. So what we are trying to play currently is something perhaps a bit rarer but extremely violent to propel us into extended cycles. If you do a bit of analysis, etc., or if you follow financial flows. If we break through, and we are in the process of breaking through it, we could reach the famous 3%. That's my target that I've always had, the famous 3% relative to the capitalization, the dominance of the capitalization of the entire crypto market, but here relative to stablecoins. We've already done it in the past, it was exactly here in February 2021, and we went to seek the depths of despair even before we really talked about stablecoins here or the veracity of stablecoins. That was in February 2020, and it went rather well for Bitcoin, and at that time, for all our favorite cryptocurrencies. So, there are two possibilities. Either, ultimately, we are clearly at a market top, and some are telling us so. You know, you have targets that have been announced years in advance, the famous 230,000 dollars on Fibonacci circles relative to a timeframe. There is another timeframe that explains that we are potentially at a market top. Who is it? It's an anonymous person here, Anonymous, who explained to us that there is an almost perfect parameterization of Bitcoin's cyclicity which explains that just after a new low compared to a new high, it takes 1064 days. Compared to an ATH, compared to a new low, it takes 364 days. And compared to a new low, relative to a new high, it takes 1064 days. From a new high, compared to a new low, it takes 324 days. And from a new low, so from November 2022 to a new high here, ATH, it takes us 1064 days, which brings us to October 6, 2025. It's been talked about a lot, it's just wonderful. In fact, what's most disturbing here is not that it's October 6, 2025, but that this damn Bitcoin made a new all-time high 2 days ago. So it was indeed October 6, 2025. So we are indeed in this range, between October and November, some will extend it to December. I've had October 27, 2025 for years. I shared it with you. Some will say October 16, others November 15. We don't care, but we know that we are rather in a topping environment. So buying Bitcoin now for investment is probably madness. But this madness, we can potentially play it for the simple reason that if there is a strong degradation, what I call, how could we title today's video? I don't know, a, I don't know, a capitulation, but here relative to the dominance of stablecoins which is around 3%, why not aim for 1.70%? There you clearly have your 130 to 150 billion dollars. Why? Because currently the market capitalization of stablecoins is around 260 billion dollars. We know that 20% of these stablecoins are locked in DeFi protocols. They are locked, they are inaccessible. 20%. We know that approximately 40% if you take the total, 40-50% are here in DeFi protocols but for collateralization. This means that they allow collateralizing leverage, for example, in any cryptocurrency, AV, Ethereum, Bitcoin. We don't care at all, but roughly 50% of all stablecoins, you have 50% that are available, liquid. So if you take 50% of 260 billion dollars, that's 130 billion dollars. So we would need this shift, this evidence. And the evidence could propel Bitcoin and our cryptocurrencies much higher if there is a very violent degradation of the capitalization or the dominance of capitalization for stablecoins relative to the rest of the market. That's what we're playing. And currently, well, it seems we are indeed in a state of vegetation, a huge range. So we are close to resolving this diamond, and we hope here, even if it's a bit rarer, to have a continuation diamond, as we call it. So if we're looking for 100 billion, well, they're there. If we want more, relative to this evidence that creates certainties and possibly greed, it's even more stablecoins that will enter this market. Whatever the means you have, whatever the investment channels you have, we can talk about ETFs, for example, and again, a huge oversight on spot Bitcoin ETFs, which is incomprehensible. Bitcoin retransfers. Sales by whales, of course, we'll talk about it together in this video. I think it's important to delve into it and go into hyper-detail. But what makes me laugh is not that. What makes me laugh is rather this. I don't know where my thing is anymore. Here, Tracer shares with us. It's crazy, last minute, BlackRock just got rid of 811 million dollars in BTC. It's wonderful. We have it here relative to IBIT regarding their ETF. 12h, 12h, 12h, 300,000 coins. So the guys the day before buy for 1 billion, the next day they sell for 800 million. And what's weird is that these are indeed cold wallets, because here at the ETF level, it's not minus 800 million, it's plus 900 million that we've just observed. So are we recovering relative to the lag we had regarding a delay on IBIT? We generally talk about 8 hours. In any case, these are the commitments that were made with Coinbase at the time, they had the possibility to enter and exit. It was about 8 hours rolling. So I'm thinking that 8 hours compared to what we just saw, which was yesterday regarding the 12 rolling hours, well, we should have seen -800 here. We shouldn't have seen +800. So I don't understand very well. It's quite strange what we're observing. So, is it simply to redirect to more secure wallets? It's completely possible. I don't know, I can't explain it. But what I do explain, in any case, since October 16, 2024, is that every time there's a new all-time high in inflows for Bitcoin, Bitcoin follows behind extremely violently. So that's simply what I'm waiting for. Let's take a quick look at the order flow. But maybe before that, let's go get Oh, maybe I'll talk about it after this. Well, let's talk about it before. I've noticed two asymmetries. The first asymmetry is on HTX. I'm talking about HTX, it's Justin Sun's exchange, the initiator of the Tron token, and HTX had already preferred the thing before. So I still think that these exchange bosses have a bit of influence, especially on Bitcoin's price action, for the simple reason that there was a study three years ago. According to which, 20% of the supply corresponds to 100% of Bitcoin's price action. 20% of the supply impacts 100% of Bitcoin's price. So you see that even though there are fewer and fewer Bitcoins on centralized exchanges, there are more and more on decentralized exchanges. You also have a lot held by whales in secure wallets, cold or not cold. So what do I think? I think that it's possible, obviously, with very little Bitcoin to make the price of Bitcoin move. And it seems that HTX was able to influence things, particularly on derivatives in the previous cycle. You see it like me here, you had a very strong explosion. So as long as it explodes, all the better. Then very strong liquidation, it was nearly 3 billion dollars. That's what we experienced about two weeks ago. We say, well, 3 billion dollars is completely crazy. That's exactly what Bitcoin experienced in the 2021 cycle to send us down -60%. It's quite crazy to say, but it's the truth what I'm telling you. 3 billion dollars -60% here it's 3 billion dollars -6%. Quite a crazy story, but that's how it is. Afterwards, they didn't come back, they even left, and I think in fact that it's Justin Sun who left, and roughly these people all know each other, these crypto billionaires, the new crypto billionaires, they know when it's the market top, and I don't see it here. However, if we see them starting to take flight on HTX regarding derivatives, then we'll really have to leave. But for now, well, I simply don't observe it. You have a second thing we could look at. Did I note it? Yes, on Bitget. Why Bitget? Because we talked a lot about Bybit as a retail exchange. Bybit has become professionalized, institutionalized, and it's rather Bitget that has taken over the retail part, even large retail portfolios of several million dollars, and we saw it arrive much later here in 2021 with derivatives, and it's clearly retail that dived in, myself first, again, on these magnificent weekly structures, particularly the sale of a hypothetical super cycle. Everyone had the super cycle in mind, it can't keep going down. We are here in certainties that have turned into greed. Greed with leverage at that time, and finally, no, it was indeed the top long before, and we were literally destroyed. So we experienced roughly the same thing here, you have an explosion, and that's why in the video about fifteen days ago, I told you, well, the hypothetical top of the altcoin season, we experienced it in November-December 2024. And yes, that's the reality. It was November-December 2024, and then many of our altcoins haven't made new highs since then. I'm talking about Fetch.ai, I can talk about The Graph, I can talk about many of our favorite cryptos. So, well, we haven't made new highs. Okay. Then a strong degradation, but a recovery in open interest, and the price follows. What I want is clearly that the open interest follows, but the price no longer follows at the Bitget level. And there we know that it's rather retail, and currently, well, we haven't made new highs, we've even made a new low. So that makes me think something completely rational and sensible. What is it? It's that retail isn't actually buying this rise. We're rather on the sidelines, we're very polarized, and we see it very well in market sentiment. So as long as we don't have this evidence or these certainties, for me the top isn't made. In any case, it would be very disturbing, and anyway, my indicators currently don't indicate it. So let's move on. I have some very interesting news for you. Let's start with that. Here? Yes, the big sales. Well, that's obvious. Here you have the accumulation score of the quarter, the big sales. So to make them stop selling, it's not complicated. The price has to go up. It has to invalidate their bias. We see here that the 1000, the 100 and 1000 Bitcoin here are not euros, they are clearly BTC or dollars, they are clearly Bitcoins. They are actively buying. And we sometimes say that the 100,000, 1000 Bitcoin, these are wallets belonging to those who hold more than 10,000 Bitcoin. Well, okay, fine. Well, generally, those who hold 10,000 Bitcoin are rather exchanges, and they offer the supply to those who want to sell directly on their exchanges, quite simply. We go from cold wallet to hot wallet. So we can assume that most people here who are selling are rather us, in reality, through centralized exchanges. So as long as they are rather blue, it's rather positive because look previously, they were the ones driving the bullish rallies, particularly in April 2025. We see it together. So it's rather positive. Now, if everyone turns red, well, obviously we'll have market degradation. I took a look at the UTXO, the realized price distribution of Bitcoin. This image dates back a few years, in reality, since it was in 2023. So, I took late 2022, 2023, and we observed something quite remarkable. It was that about 8% of Bitcoin's supply was around $17,000. So we knew here that the big players had positioned themselves. There was one of the biggest transfers of hands in the Bitcoin ecosystem, on-chain. So we could expect bullish rallies. We positioned ourselves strongly for bullish rallies, particularly in March 2023, where with the entire Kings community, we took what's called the super long, which we completely closed at $36,380,000, by the way, but it was a big long with a lot of leverage, and it made us a lot of money because we had proof that there had been a huge transfer of hands during a capitulation phase of extreme anger. So now that you have this image, let's try to see if these people have simply sold. And yes, they have already started selling around $30, $33, $35, $36, even $39,000. So that's where we also positioned ourselves to take our profits. Then here a new spike around $60,000 and new ones around $60,000. So yes, it's degrading, but roughly, those who bought around $15,000, $17,000, $20,000 have massively distributed in each Bitcoin cycle during these long consolidation and distribution phases. So two things to say. Either all those who sold have already sold, they have nothing left, and we're going to try to make them buy again. I'm telling you right now, the big players won't buy at this price level. So we'll need new, so to speak, actors to buy. And we have these new actors. They are the ETFs, but ETFs composed of 70% retail, we know that. And potentially 401k for retirement or government flows, and perhaps a news item I'll present to you right after. Now that you have this, let's look more closely at the famous 100,000, 115,000, 125,000 dollars. Well, I found you the most recent thing, it's 3 days old, it's in Chinese, but we don't care at all. You see exactly the same thing here, relative to the UTXO, the famous $17,200, and you have a huge spike at $120,000. Huge spike at $120,000. So clearly a topping zone. So can we still double? Can we still accelerate? Can we still do crazy things? Possible, but the big players are massively distributing, and we see it very clearly since $100,000, a huge phase of transfer of hands, so from long-term holders to short-term holders. So what does this famous distribution or transfer of hands between long-term and short-term tell us? It tells us that we no longer have the choice to continue increasing. Why? Because short-term traders or short-term investors will have the upper hand and the trigger very easily as soon as the price retraces by 10, 15, 20%. That's the shower and the descent into hell. They don't hold on. Newcomers don't hold emotions. It doesn't work. We can do whatever we want. We can say whatever you want. And we know the most important support point. It was indeed $100,000, and now this $100,000 can transform into rather $110,000 or $115,000. So if we find ourselves below $110,000, $115,000, I'm not going to play smart. I'm telling you frankly. I'm not playing smart anymore. And we will obviously see here, relative to our stablecoin capitalization chart, that it will start to appreciate. And if we start to break, I'll try to find my brush, which is here. We start to find ourselves here, and potentially break here. Well, I'm telling you, if we find ourselves around 7-8%, we are around $105,000-$106,000, approximately. It sounds crazy, but it's the truth. So if I tell you that we go from 6% to 8%, we find ourselves at $105,000-$106,000. Well, assume that if we simply decrease by 2%, we will find ourselves around $130,000-$135,000, and that's what we want to observe, quite simply. So unfortunately, it's serious to say, but Bitcoin has no choice but to continue to appreciate violently upwards, otherwise it risks being complicated. I also have this, it's exactly the same thing. Huge spikes. So, $120,000 at least you know it. There are a lot of transfers of hands happening here, and that's why this famous super resistance is having so much trouble being overcome. Now, the evidence leads us to believe that graphically it's bullish, fundamentally it's bullish. No crisis in sight, and no panic in sight. So the evidence would suggest that we give this possibility of having a bit of certainty in this market, and it's only this certainty that will bring new candidates to this market. I'll also show you a few other small things because you might not have seen this. On XRP, it's the same thing. The biggest transfers of hands on XRP were at $0.32, for example. And if you look at it here, yes, we are in distribution phases, it even started around 280, approximately, but no huge distribution spikes. So there is distribution, yes, by constant inflow, yes, but no huge transfers of hands on XRP. So I'm not worried about crypto assets. You have the same thing on Dogecoin. Thank you Alichart. Same, the biggest spikes in terms of transfers of hands on Dogecoin were at $0.08. We're talking on-chain here. So we'll go here, we'll go to Doge. Where is Doge? And we'll go to $0.08. Look where $0.08 is. It's here. Investment Hermes, did you buy it all? No, I bought just below myself. By the way, $0.08 is where the biggest transfer of hands is. So you understand well that most people who massively bought Dogecoin supply during the capitulation phases because it lasted a long time. So in fact, these spikes you see on this graph, you understand it like this. Well, here it's not necessarily in terms of duration, it's rather in terms of supply. So it lasted a long time at this price level, and that's where the biggest spike, it's quite crazy to observe, but it was simply transferred here from weak hands to strong hands. Now we'll try to find new spikes, from strong hands to weak hands, which will ultimately transform into weak hands because they will capitulate. We had this magnificent ascent, the famous November-December 2024. And now, we are waiting for the little crazy thing to see if Dogecoin signals the end of the cycle or not, simply because since its creation, since 2014, it's Dogecoin that has signaled the end of the bull run, and for now, well, it's doing rather well. I'm not saying it can't do anything other than go up, but I dare to hope it continues to give us a little crazy thing. At least you know where the big players positioned themselves. So, well, buying now cryptocurrencies that are highly capitalized and have come out of their accumulation zones, assume that the very big players positioned themselves well before. This also reflects on AlphaFractal, the fact that we were indeed in a massive distribution zone when we entered the red here, when we were around $70,000-$800 for Bitcoin. And that's where the first ones started to sell. So I can ask myself a question with you. You tell me in the comments if you share this or not. Well, perhaps we have experienced this famous expansion, this last bullish leg, because the very big players positioned themselves and sold in it. It's clearly in there that it was sold. So the very big players took profits, those who were here took massive profits here, and we really thought it was the top at one point. In any case, many possibly anticipated it. So leverage made the difference, and the explosion of short sellers also made the difference. It's a good thing, there are still some today. Will I manage to recover my little buttons? Yes, I will succeed. Last thing here, I can't find this yellow fractal right here. So maybe it has already appeared because it's not fully updated. So I might have to try to find the MVRVZ score. I offer it to you regularly. I like this chart because at least it gives small signals. And in fact, here you see it relative to the MVRVZ score line, well, in fact, a peak here, here, here, here, here, and it never peaks. So that reinforces a bias that we could have this crazy thing and have an extremely massive increase. I told you, it's just wonderful. I'll skip this because it's perhaps the news we're waiting for, it's UMS sharing this. The United States could start purchases at any moment regarding their decree. So perhaps that's the news everyone is waiting for. If we have that, or how to say it, we'll have it, but we'll anticipate it because we'll know it's coming. Basically, assume that there will be leaks and we'll know that the United States, for example, should buy their first Bitcoin by October, or by November, or by December, or by January 2026. We should see it happen. For now, we only have speculations, allegations. But UMS explains that everything is in place for us to buy Bitcoin. In any case, for the American government to be able to buy Bitcoin. Perhaps the 100 billion more, but rather psychological, which would signal a market top. You know, I don't have many market tops. But this could be a market top. That means the United States buys in its treasury, not confiscated, but actually buys Bitcoin. For me, that's a top signal. Clearly, we had another top signal here for November 16, it was regarding the CFTC regarding derivatives, not on perpetual options but on futures contracts, whether they are quarterly. It hasn't happened yet, it should happen. We've roughly calculated it for November, for mid-November 2025. We'll see if we are at a market top by then. I hope the market will have appreciated. I wanted to show you this one. This project was, quite simply, and I wanted to talk about Plasma. So there's a lot of talk about Plasma right now, which is normal. It's a project with a lot of ambition. This video is not sponsored by Plasma. I'm not in contact with them. I didn't participate in the ICO, and anyway, it would have been very difficult to do so because it's very difficult to talk about ICOs in French-speaking channels. It's very regulated. They didn't have the regulations to do it. They raised 50 million dollars. The token is already at x17 as I speak, it even went up to x40. Until proven otherwise, regarding a listing that was done, a TGE that was done, and all the public tokens were released very shortly after, a huge FUD to explain that there had been sales, what are called iceberg sales, chronologically, millions of dollars by millions of dollars by millions of dollars. So the founders are selling, speculators are selling, whales are selling, we don't care at all. Wait for the FUD, I'm telling you about it because it's starting to be the right time to talk about it for the simple reason that I've archived it here. In any case, I've selected it, not necessarily archived it. And we are simply approaching a buyback zone. There are two projects I was looking at. The first, which is also listed, is 0G. So here, rather a competitor to The Graph, if you like. So if you have The Graph, Fetch.ai, or things like that, you can consider it. You have when it enters a buyback zone here, according to Toani's indicator, it seems to be consolidating. So there's a form of aspiration that's taking place, and you see that it's getting harder and harder to reach the oil. So I like to position myself here for an investment, it can be interesting, or a swing trade, it can be interesting. We are in good zones, these are still highly capitalized projects, and I would expect the same for XPL. Since there is FUD currently, well, let's wait for the FUD to be completely consumed. So roughly, come and get the $65, the $55, and at that point, I will position myself on XPL, of course, for a very simple reason. The first reason is that there are big players.
behind. And let's be honest, you go here into Harvest Sor, you go to IC Drop, it's a site I use regularly, you have Paolo and you have more. Well, Paolo Ardiano, if you don't know who he is, he's the CEO of Teser. He doesn't invest in many projects, Paolo, he doesn't invest in any projects at all, Paolo, on ICOs. So he apparently put in 74 million dollars. We could look it up together. You have to click on it, but my computer seems to be bugging a little bit here if all goes well. There, it's maybe bugging a bit. So broadly speaking, he invests in Plasma. That's it, simply. So they have also allocated nearly a billion dollars of TVL at the level of Teser's Plasma at J1 during the launch, still in testnet currently. And you have a second cowboy named Peter Se. Yes, it's Peter Thiel. He invests in several products, in several projects, notably in EOS, in Bito, in Vol, in Arcam, but not that much. And he also put in 74 million dollars. So I think that's the ticket, so to speak, that they invested. He's a guy who's worth 25 billion dollars, so he's not just anyone. And well, generally, the projects are very good, even if a project is dead today. Take the example of EOS at the time of the public sales. So, I don't advise you to invest in EOS. It's considered a dead blockchain, but it's perhaps there, by the way, that it could do some big crazy things. I'm looking on Bitfinex, maybe we have some history on Bitfinex. Do we have some history on Bitfinex? Tell yourself yes. Yeah. Well, there you go, broadly speaking, it went from there to well, from over there. So we still have time to have unlocks and so on. The public ICO was literally released 100% at the TGE. So 10% of it was released. Let people go a bit crazy. In terms of volumes, we see clearly here that we are exceeding all understanding. XPL compared to Plasma, I'm just telling you to look into it. It's I don't want to say XPL, I don't want to say easy money, but almost easy money. It's a billion dollars. It directly touches the narrative most followed today by institutions, the models called stablecoins. So yield and so on, locking, collateral, whatever. They are here in payment systems. They promise near-perfect transaction instantaneity at 1 second up to 1000 TPS per second, number of transactions per second. In short, it seems to hold up reasonably well. You really have to grind through it to get extremely advanced intelligence. But well, from a billion to go get TRX for example, we were talking about HTX, that gives a good insight into its market capitalization which is currently valued at 30 billion dollars. So you have to dilute it, but well, assume that we can aim for 30 billion capitalization on XPL. Because in fact, Tron is mainly used today for value transfer in stablecoins. So if you have a direct competitor who is just better than you, who does better than you and who behind has whales worth 25 billion dollars, including the CEO of Teser and notably strategic control of Bitfinex, it seems to me. Yes, Bit Bitfinex. Bit it's Bitfinex, I don't know anymore. Well, whatever, it doesn't matter. But well, broadly speaking, you have big players behind it. It could potentially be interesting to take a little look. So if you haven't done so, I invite you to look into it. I also invite you to go and look. It's the geno, but well, my goodness, they are young in the crypto sphere. Go watch interviews of Paul Frex, he's the CEO of Plasma. And if you want to go a little further to understand the tokenomics, I invite you to go see my colleague Alexandre, so Capette the real one, who did a fairly in-depth analysis on Cog Academy. I'll put it at the end of the video, it will appear in a few moments. I invite you to go and see. Is there anything else I could tell you? Yes, I could have told you that. Alright, I'll finish on this. 32 minutes. We're making long videos at the moment at the roit, but but I'm just giving you this, in fact, compared to a perception that leaves me a little perplexed. I talk to too many people who tell me they are not satisfied with their bull run, who are not satisfied with their cycle, and in fact they are probably right. If you go and look here at the total market, broadly speaking since the market bottoms or since a change of hands since we did just before the UXTXO, well broadly speaking on total we are at plus 300%. So you go here, you take the XTX around where the changes of hands happened. We are broadly at 300%. 300, even 400, even 400%. If you take Total Market 2, we are much less. We are closer to 300% this time, I think. We can look or 200%, 200%. If you take well, we're not great, great, because if we take indeed here the changes of hands, we are closer to 200% too, and if you take Bitcoin, we are closer to 500% and we know that the big players have positioned themselves more on Bitcoin, the very big ones I'm talking about here. Come on, give it to me or not? It doesn't want to today, the computer has heated up a bit, it's not a big deal, we even have 600% to take 500%, I took it a little low, so 500% in short, we are not satisfied, but the market as a whole has made perfectly reasonable multiplier coefficients compared to other markets currently. You take the S&P 500, you take the Nasdaq, that's the truth. So the only thing we can play here or the only hope we can play here is an asymmetric catch-up between our small cryptocurrencies compared to large cryptocurrencies. So an outperformance of our cryptocurrencies outside the top 10, potentially if we play it, you have to go look for money, it's on the stablecoin side. Don't wait to verify whether yes or no there is a real degradation compared to these USDC or USDT which should pour into crypto, because in fact, we observe it, if you see that this is going down, our cryptos are going up, if you see that this is going up, well our cryptos are going down, and our cryptos will go down sharply. After that, you just have to play broken supports and resistances. We did the pullback right here. Now, what I'm waiting for is at least to reach 4% and at that point, we will enter into what? into certainties. So for me, we are in a zone of evidence, both of supports that are being broken and resistances that are starting to be nibbled away on Bitcoin's side, which would give a form of reassurance to invite people to go to the market, but they won't buy Bitcoin because too many people like me will say "It's crazy to buy Bitcoin". But maybe there are better opportunities on small or smaller capitalization cryptos. We won't go back over them here, but you understand the principle, and that's what could give us very strong price divergences, since it seems that many seem to be abandoning the ship a little. It's a shame, we are here in a form of polarity. If we don't have certainty, the market should continue to grind its upward flows here. We'll meet again tomorrow and I'll share this potentially explosive crypto gem with you. Honestly, this crypto is crazy. We'll see if it's worth it or not. Ciao! M.