Crypto Mason reports Bitcoin near $40K and Ethereum at $2,838 as the total market cap approaches $1.8 trillion. XRP gained 6.1% amid speculation it could replace SWIFT for Russia, though Mason argues crypto poses no realistic large-scale sanction-evasion risk. The Fear & Greed Index shows extreme fear, suggesting a potential strong rebound.
What is up? I am Crypto Mason and welcome back to the Crypto Mason YouTube channel. Shout out to the Gold Squad. We look for gold in every single aspect of our lives and we always find it. Now today we are back for another daily market update. I'm still here in Mexico, um, so I've been trying to stay as attached to the market as I can, but the, um, the pushback from yesterday has continued up. We're almost at $1.8 trillion here. Look at Bitcoin and Ether are like sitting right below some pretty crucial prices, right? Bitcoin is trying to pass $40K while Ethereum almost got to, um, $3,000 yesterday. Yesterday we were watching Ethereum, that thing almost got— where was it? Let's go on the 4-hour here. Yeah, ETH got up to $2,838 there. Both of those sitting at crucial levels. Um, XRP also pumped 6.10%, 24 hours. Biggest gainer today, we can check and see, it is Harmony One. Very interesting. Waves. Anchor Protocol has been killing it, 53% in 7 days. Also Cosmos pumped. Pretty standard market right now, it's just recovering to previous, uh, prices. You know, some of the Russia stuff is— I mean, all the news got pumped out, right, all at once, and that's what really dropped the price or the prices. Um, but now the narrative is switching to SWIFT, talk about SWIFT, um, uh, the sanctions and how, uh, Russia can evade them. So we're going to cover a little bit about that. There's not much other news coming out today. Um, but both Bitcoin and Ether sitting at crucial levels. I hope we can continue, uh, back up. So let's start with, um, Bearable Bull right here. He says Russian sanctions with SWIFT is bad for the US. US printed the dollar into oblivion and the dollar-dominant SWIFT system is ending. In comes a gold-backed Russian stablecoin. So gold-backed stablecoins is what the Bearable Bull thinks is going to happen. I am not sure about that. In comes China/Russia-backed payment system. Correct, I agree with that. But a gold-backed stablecoin, I don't know. I don't know. Remember, XRP was meant to replace SWIFT as the lawsuit is ending. So obviously he believes XRP is going to replace SWIFT. He puts a little article saying Russia may allow crypto mining and gold-backed stablecoins. Right, so they're already talking about gold-backed stablecoins. That would be very interesting. But XRP replacing SWIFT, I do not know how I feel about that, dude. I feel like they may stay a competitor. They may stay a competitor, but it's very possible that it replaces SWIFT. Now we also have— so basically, let's, let's read this one first. Niraj says that the Treasury Department knows there isn't a realistic risk that Russia could use crypto to evade sanctions at a meaningful scale. At a meaningful scale. So like what we would want to see— well, I don't know if we want to see it, but what could happen is Russia gets disconnected from SWIFT completely, right? And then they go to use Ripple, right? But the sanctions, they can't evade— they can't use crypto to evade the sanctions at a meaningful scale. Um, he says, we're talking about multiple orders of magnitude larger flows of money. Listen to this part. We're talking about multiple orders of magnitude larger flows of money that would be possible to conceal on a public ledger. No, you do not. There is, um, you do not need public ledgers. If we, if we go to this Uh, if we go to this, the private— Ripple has a private, uh, private ledger for central banks already, okay, that can do hundreds and hundreds of thousands of TPS. The CBDC private ledger will handle tens of thousands of transactions per second initially, with the potential to scale to hundreds of thousands of TPS. So stuff like Ripple like, or just Ripple basically, has, have these private ledger functions, which obviously is not what we want, right? We don't want a bank or something to be able to hide money, but they're going to have to. They're not going to use a public ledger. Um, so this is what's, this is what's being pushed in the news. It's always create the problem and present the solution. Every time, every time they're creating the problem here, and now they're going to present the solution. Now take a look at this. This plays into that too. This is the European Central Bank president Christine Lagarde. We know her. She said that the European Union should move quickly to approve crypto regulation that prevents Russia from evading sanctions after invading Ukraine. So do you see how they make Do you see how they use this problem to do other things? I mean, this is pretty, this is pretty close to what they should be doing, but still, it's create the problem and present the solution right there. Apple has also discontinued support for sanctioned Russian banks on the App Store. This is getting crazy. This is like currency wars. This is like fight, like a fighting with, you know, payments and, and payment infrastructure. Very insane. Um, but this is what's in the news today, man. Overall market, pretty simple. If you bought anything on that major dip, you're already back up. If we look at the crypto total market cap— by the way, how you get to this is just type that in, go over here to TradingView, and it has the best charts. It has the best charts for seeing this. You can see everything right here. So we can see like we have bounced, like that was a bounce, right? 24th, we were at 1.6— actually, let's go to, yeah, 1.6 trillion total market cap with Bitcoin. Um, and now we've actually bounced up. So if you bought anything in there, you're most likely in profit right now. You can take that out if you want. Now it's just a matter of getting your capital so high that a 10% swing trade is as much as a car, or as the profit is as much as a car, right? Right here, if you hit 15% and you have a large capital in this, I mean, that could be— you could make $5,000, $10,000 right there. DeFi Market Cap also bounced pretty sharply right there. Overall, I mean, we're gonna see what happens. It's impossible to tell, literally impossible to tell. I would like to see what the Fear and Greed Index is real quickly. It must be like extreme. Yeah, extreme fear. This is gonna rebound so hard, dude, when we get over all this stuff and, and it clears up, hopefully clears up. But that is all we've got. Appreciate all of you. I will be back in Canada soon. I love every single one of you. Make sure you're following my Twitter and Instagram, and goodbye.
