5 Reasons to Stay Bullish
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- 🔵 Coinbase’s huge quarter. The COIN earnings report landed today and the company handily beat expectations with $1.6 billion in revenue – a 72% increase from the previous quarter.
- 🪩 Mirror acquired. Web3 publishing app Mirror has been acquired by competitor Paragraph with the Mirror team already pivoting to work on a Farcaster-based social network called Kiosk.
- 0️⃣ LayerZero gets ready for token drop. LayerZero’s token launch is expected soon and the team has announced that it has already completed the first snapshot of eligible wallets.
📊 Record ETF Outflows. Amid the crypto price slump, spot BTC ETFs in America had their worst day on record, posting an all-time high $534M in outflows. Can impending institutional adoption stymie the bleeding?
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.22T | ↗ 2.2% | ↘ 7.1% |
|
BTC $59,119 | ↗ 2.2% | ↘ 8.7% |
|
ETH $2,995 | ↗ 1.0% | ↘ 5.5% |
If you haven’t noticed, market sentiment has been... pretty bad lately.
Bitcoin is down significantly over the past month and a number of altcoins are down much worse, leaving many across Crypto Twitter to share messages of doom and gloom. Yet, despite the current downturn, historical trends and underlying movements suggest we are far from the end of this cycle.
Here are five reasons not to lose faith in this cycle and look beyond the market's current turmoil 👇
Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.
While it's still early in the race, Base is now one of Ethereum’s largest L2s.
In today’s episode, we brought back on repeat guest and co-creator of Coinbase’s Base, Jesse Pollak. We cover how Base plans to bring billions of users onchain, how it's increasing its scale by 400x, how Coinbase is using Base to be more onchain, and Onchain Summer II.
Dig into the full episode 👇
- 🪙 EIGEN: The Universal Intersubjective Work Token - Eigen Labs Team
- 👆 Am I a Solo Staker? - Nixo
- 💸 How I’m Launching a VC Fund with Zero Capital - Joan Westenberg
- 🫠 Analyzing Blob Inclusion Rates and Market Strategies - Primev
- 📞 Ethereum All Core Devs Call #186 Summary - Christine Kim
- 🧻 Microrollups for Onchain Attestations - Stackr Labs
- 📈 5 Rules for Token Launches - Miles Jennings
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Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.