Howdy traders, it’s Matt here.
The biggest story lately has been the FTX collapse.
But I just read some new legislation from New York that revives a former catalyst. And I’m glad to see the industry pushing forward.
It’s all about sustainability.
And I’ve already found a volatile spiker from the sector.
All the details are below …
Similar To Ethereum
Remember the Ethereum merge from proof-of-work to proof-of-stake? The system switch allegedly made Ethereum 99.9% more environmentally friendly.
A main critique of crypto thus far has been energy consumption.
In the early months of 2022, Bitcoin (BTC) was using more than 200 terawatt hours of energy.
For reference, that would put Bitcoin in the group of the 30 biggest countries based on energy consumption.
It all comes from mining.
Trade alongside millionaire traders every day.
In order to mine new crypto, computers have to solve difficult math problems. And these computers use a lot of energy.
The Ethereum merge put environmental activists at ease for a few months.
But New York is back at.
It’s the first U.S. state to ban certain forms of crypto mining.
As a result, I’ve got my eyes open for volatile coins with ties to environmental sustainability.
Like this spike from November 23 …
Nano (XNO)
It took me two minutes to find the environmental connection …
“ORV makes Nano extremely energy efficient, positioning it as a more environmentally friendly alternative to proof-of-work (POW)-based cryptocurrencies.”
CoinMarketCap.com
Check out the spike and the consolidation since …
The Mainstream Media Wants You to Believe That Bitcoin and the Rest of Crypto Are Dead…
Rumors of crypto’s demise have been largely exaggerated.
In fact, now is the best time to sharpen up your skills…
Before the next bull run rolls around.