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Here is some interesting math.

The difference between one million and one billion is massive. The magnitude of the difference is difficult to comprehend. One billion is one thousand times larger than one million. Obvious, right?

Written out, the numbers look like this.

1,000,000 vs 1,000,000,000

It’s a 7-figure number vs. a 10-figure number.

I think the best way to visualize the difference is in earnings. If someone were to earn $1,000,000 a year, that person would need to earn $480.77 per hour and $3,846.15 per day. As high as these number seems, they don’t feel impossible. 

Now, let’s see how these figures compare to earning $1,000,000,000 a year. This would require earning $480,769 per hour and $3,846,153.85 per day. There is a world of difference. Let’s look at a few other examples.

In terms of time:

1 Million seconds in days = 11.57 Days

1 Billion seconds in days = 11,574.07 Days (31.7 years)

In terms of population:

1.35 Million people = the state of Maine

1.2 Billion people = the continent of Africa

In terms of weight:

1 Million grams = one walrus

1 Billion grams = seven Statue of Liberties

Why does this matter? Because millionaires and billionaires are often lumped together, yet they aren’t remotely similar. The difference between the two is basically… one billion dollars. Anyway you spin it, one million is effectively 0 when compared to one billion.

Typically when you read online about this idea, the final point is something along the lines of how wealth should be redistributed around the world and billionaires are evil. I won’t bother taking that route. 

What I will say is that investors looking to “level up" should forget about exponential gains and dreams of becoming billionaires. My advice to you is to patiently swing for base hits, stay consistent, and survive to see another day. By following this strategy, you will find peace in knowing you are slowly moving toward adding more 0s, rather than having 0.

This report is written by Daniel Ferraro.

Coming off of extremely oversold conditions and with the merge incoming, ETH has been rallying over the past couple of weeks. This recent action gave a much-awaited rally for the bulls, but the question remains whether this recent price action is the beginning of a positive bullish momentum or this is just a bear market rally.

While the price action of Ethereum has been undeniably positive, we need to understand what’s happening with the supply dynamics and on-chain activity in order to assess if the demand is, in fact, increasing along the price.

Daily Active Addresses activity remains sideways - DAA has historically been a good indication of momentum, as they tend to follow the price action.

Where’s the Uniswap Volume? - Just as the price of the majority of the crypto assets dropped by 90%, so did the volume in Uniswap V2.

Similar to the volume of Uniswap, one of the best indicators to assess the demand in the network is Gas usage, as it tends to spike when there is an upsurge in usage and urgency of Ethereum users. While increasing gas costs price out smaller transactions, they point to an increase in demand to transact on the Ethereum blockchain.

2-year lows - Despite the positive price action, Gas prices recently reached their lowest since March of 2020.

While the price action has been positive, on-chain data is not reflecting the same. It has been lagging behind. Of course, on-chain data is not the only indicator that we must consider, and we’ll keep an eye on the upcoming events.

What to watch this week:

Some of the main moves in markets:

For those that believe in the destiny of Ethereum flipping Bitcoin, look no further for evidence than what has happened in the options market. For the first time in history, Ether open interest has flipped that of Bitcoin’s on Deribit. What this means is that the total value of open options contracts for Ethereum (contracts that have not expired) is larger than that of Bitcoin. 

When the “flippening” was first reported, the gap was quite substantial. Ethereum’s options value was set at $5.7 billion while Bitcoin’s options value was at $4.3 billion. As it stands, the put-call ratio is currently around .26 for Ethereum, which is a bullish indicator. This figure roughly means for every 1 put option open, there are 4 call options open. Metrics are showing that traders are confidently expecting Ethereum to rise, and now it’s officially the dominant asset of choice for options traders.

The New York State Department of Financial Services has imposed a $30 million fine on Robinhood for violating cybersecurity and anti-money laundering laws. According to regulators, the main issues resulting in the fine were understaffing, non-compliant policies, and failure to list a dedicated phone number on its site.

When was the last time you saw a phone number listed anywhere that was easy to find and to call? Either way, Robinhood was expecting this fine for quite some time. The investigation took place in 2020, so things should definitely have improved by now.

Do you remember the story of the man who accidentally threw away his hard drive that had over 8,000 Bitcoin on it over a decade ago? Well, that man has finally secured funding to begin the excavation of the landfill, but still lacks city approval. In an attempt to sway the council, the man has promised a detailed plan to donate 10% of the proceeds, $18.2 million at the time of the article, to the city. I say we turn this thing into a reality show, add a little bit of drama, and find some coins!

Another day, another hack. Another embarrassment. Another reason to secure your assets.

Late last night, the Solana community went into a stir as word broke that over 8,000 wallets were being drained, including Phantom, Slope, and Trust Wallets. The details are still hazy, but so far it seems as though “hot” wallets, specifically mobile ones are at risk. Somehow, private keys were being generated to gain access to the funds. Let this be a wake-up call to abandon hot wallets entirely. Some victims have come forth and even said that Ethereum wallets could be at risk as well, but that is speculation.

Crypto is currently a shit show of epic proportions.

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