Little bit of breaking news related to the world's richest man Elon Musk and obviously his social media platform Twitter SLX and the accepting of payments and also some interesting commentary on crypto. Speaking of which, if you haven't looked at Salana recently, it is ripping and ripping and ripping. Elon Musk says X will launch payment services by mid 2024. In my humble opinion, if this is successfully executed right away, you're going to see a massive jump in value of what x/ Twitter is actually worth Elon Musk's quote Unquote Everything app is expected to launch Inapp Payment services on its social media platform around mid 2024, though crypto integration now seems remote.

so. Elon who historically I think a lot of people in their mind thought he was a big supporter of crypto, and I still do. But the way he was downplaying crypto in this particular conversation I thought it was noteworthy. Musk said he expects payments services to be fully launched sometime by the middle of next year pending the approval of several Money transmitter license applications, and this was all in a conversation with Kathy Wood who's running Ark Invest and you guys know she's big in disruptive Tech and what's going on with the Bitcoin spot? ETF application.

She's one of the people within that group obviously. Tesla positions coin positions. Really? if it's Tech related, she's somehow involved and she definitely has I would say a large social media presence. but anyway, they had a space call yesterday and this is were all that came up.

Musk said he hoped to have launched payments on the social media platform sooner, but he had been weighed down by bureaucratic processes. Musk said that he wasn't aware of any potential showstoppers that might see their Money Transmitter License application rejected. Adding that X had been cor quote a bit late in submitting all the necessary documents. So before we get into his commentary on crypto, this is actually a clip from their conversation: Are you going to turn into a financial platform? Which is where you started your uh, entrepreneurial Journey many years ago, is Is this still? uh, Is this still on the drawing board? Uh, yeah, absolutely we're We're just waiting for the final approvals to come through for the Money Transmitter licenses.

It's just taken longer than expected to get the Money Transmitter licenses. Uh, yes. So I did. see you have 15 or so now or is it more? Um I think we actually have a majority of the states I Think you need individual but it's it's irrelevant until California and and New York Brew Us: I see I See and and uh, are there any showstoppers or it's just bureaucracy? It just I mean really? just I Guess bureaucracy.

Um, you know. Um, the thing. Things were obviously quite chaotic, especially for the first few months. So you know this: It's not entirely their fault.

We we were bit late in submitting our uh, you know, um, Money Transmitter licenses. um and uh I Essentially thought I thought we had done it, but we had not done it um, until around the middle of this year. So I I think we'll probably get our approvals uh, early next year and so I would expect payments to roll out I I would be surprised if we ar if it takes us long than the middle of next year to roll out payments. Um, so I'm I'm not aware of any any showstoppers.

it's just kind of working through the system all right. So there you have it from on himself of what's going on with Twitter I'm going to call it Twitter I don't know if I'll ever call it X But anyway, if you ask me, this is like a clear value ad and I think it'll increase the popularity of the platform. But let's bring it back to crypto because I think some of the comments there were even more interesting. Many crypto enthusiasts hope that Musk might integrate one of his preferred cryptocurrencies including Dogecoin and Bitcoin as part of the X payment system.

Obviously, if you paid attention to any of the history of like Elon trolling, part of it really really intertwines with Dogecoin. So the fact that he was a little bit I guess like standoffish with it I think came to a surprise of many people. However, the Tesla CEO has never confirmed this and appears to have put a further damper on crypto related enthusiasm. After revealing he spends quote unquote hardly any time thinking about digital assets Despite much seemingly new found indifference to Crypto, Tesla still hold some 148 billion in Bitcoin out of the balance sheets, and the EV manufacturer allows customers to buy merchandise from the Tesla shop with Dogecoin so he's not completely saying like f you to the Crypto Community But in this particular conversation, definitely taken kind of a weird setback.

Speaking of crypto, the crypto sphere is looking great, but one of them is really dominating right now and that goes by the name of Salana. Salana Surge continues now, flipping Binance's BNB in market cap. So just for the point of this, uh, actually B&B flipped it back. You can see 40.8 billion versus 40.3 So they were battling it out throughout the night.

But in terms of the leaderboard for Crypto Bitcoin holding the highest obviously at 856 Billy and then BMB is now four and Salana is five. but it seems like they are very very much battling it out. Now, if you don't know much about Salana, the first thing you need to know is over the past month it's been ripping. It's up 70% This is think Ethereum, but think faster and they have a different consensus mechanism Salon is known for proof of History A Lot of people are liking it because it's cheaper and it's faster.

Also, in the short term there's been a lot of just fomo and fervor because of the meme coins being made on Salana led by Bonk um, some of the people that don't like Salana are saying hey, it goes down a lot more often the whole network. Other people don't like it because it was very intimately related with S. Bakman Freed and FTX So I myself am trying to understand like all the parties involved in this, but honestly, that doesn't take anything away from its like jaw-dropping gains. A strong 18% surge in the price of salana over the past 24 hours has boosted the cryptocurrency to the fourth spot in market Cap the first time it's done so in over 2 years.

the latest surge catapulted Sana's market cap to 42 Billy overtaking Binance by just a little bit. However, despite the quote unquote Eth killer moniker, many of its supporters tout Salana as a long way to catch up to Ethereum's market cap of 269 billion. So right here, if we go back to Market Cap, you're going to see Eth quite a bit farther away 279 versus 40. So yes, it has the moniker.

It's called the Ethereum Killer and it might do it one of these days. It might be more popular, but obviously it has quite a ways to go. I Mean it's going to have to more than 5x. The last time Salana was in fourth place was in November of 2021.

Back then at the peak of the bull Market cycle, it had a market cap of about 75 billion, but it was still behind BNB at 108. However, the price of Salana closed out 2022 just below $10 mainly due due to its association with the defunct FTX exchange and former Crypt billionaire Sam Bakman freed a year later, Soul has surged to almost $100 making it one of the best performing crypto assets. I Think so much of this is psychologically driven and I I would safely assume that a lot of people have a negative sentiment for anything related to FTX So um, hey, if you're making a bunch of money on Salana, I congratulate you. But in terms, does it make sense to me? Not so much.

Uh, and this is more of a commentary on like just the market psychology. I'm surprised that they kind of aren't excited about other things a little bit more, such as Avalanche but who knows, Maybe people have forgotten about this and they're just more particularly excited about the tech. Uh, just so you guys know, I don't think I own any salana if I do. It's very small, but hey, uh, if you're actively trading it or if you think it's a quality investment I Still wish you the best of luck.

So another I guess Interesting thing right here going on with Solanum you're going to see recently as in over the past 12 months at the Search terms, Salana is picking up an E is going the other way. So in terms of alt coins right now, Salana very very very popular. If you want to see it on the weekly view from the start of 2023, until now, Salana is ripping ripping ripping. Its high was $99.99 over the past week.

It is up 24% over the past month, 82% and year to date. Get this, it is UP 844 per. Really, it started going in mid October and ever since then it seemingly has not looked back. Gana Sold neared $100 today Friday As ongoing hype for the blockchain Speedy transaction, cheap fees and a lottery of mem coin issuances extended into its third week if you ask me I think this is actually why it's appreciating and value so much is cuz it has so many things going for it.

you could argue that it's Tech something to pay attention to. you could say the cheap fees, the speed okay, great and then even the meme coin stuff that's undeniable that just the fomo and excitement that that can prompt a lot of people like it and apparently it all adds up to people overlooking how often the network goes down. Uh, it doesn't go down like every day I'm not saying that, but on a relative basis it does seemingly go down more than other network and obviously they are also overlooking the previous connection to S Bigman Freed Metric show Salon has possibly been the strongest draw among onchain Traders with trading volumes and network fees Crossing those of Ethereum, which is usually the highest on a 7-Day rolling basis. Value locked on.

Salana applications grew in tandem, rising to 1.3 billion where of tokens from the 400 million Mark in November to reach levels previously seen in July of 22. These factors have apparently helped extend the year- today gains for Salana to over 830. as I'm filming this live right now it is UP 844 per. So my question for all of you guys when it comes to Salana is is this a hype thing? Is this a a blip and it's going to go up and the active Traders are going to make a bunch of money and then it comes down Or do you think this actually has staying power? Do you think this actually has investing power? Uh, I'll be the first to admit it.

I am not the most informed on Salana I'm learning I've been reading about it over the past couple months. I've been tracking the stories trying to figure out what's going on I find some of the psychological aspects I see some of the positives but to me I am seeing also some of the negatives of like what the Salana story is so that's why I want to turn it all over to you Salana relative to something like I Guess we'll say Ethereum Avalanche Cardano. Is it actually your favorite? Is this an investment? or is this more of just like a shortterm like hey, you want to actively trade it up and then you also could actively Trade It Down uh I Guess that's my question for all of you right now, especially if you're more informed on the subject matter than I am.