0
0

Bankless Discord Weekly Summary: Dec 2nd - 9th 2024

A weekly summary from the Bankless Discord server, including Bitcoin hitting 100k, and ETH hitting 4k.
0
0
Dec 9, 2024 • 1 min read

The week was marked by significant market milestones and deeper ecosystem discussions, with the Bitcoin $100K achievement and cross-chain development debates generating the most engagement.

Market Movements & Sentiment

Bitcoin $100K Milestone 🎉

  • Historic crossing of $100K level
  • Community celebration and discussion
  • Significant leverage clearout (~$3B open interest purged)

ETH Performance

  • Reached $4K milestone
  • Strong weekly candle formation
  • Growing optimism about ETH's momentum

Alt Season Indicators

  • Surprising strength from 2017/2021 era coins
    • XRP, ADA, EOS showing significant gains
  • Discussion about market cycle indicators
  • Early alt season signals observed

Regulatory & Geopolitical Developments

South Korea Political Situation

  • Failed martial law attempt
  • Parliament voted 190-0 against declaration
  • Market impact discussion

US Regulatory Outlook

  • Paul Atkins potential SEC chair appointment
  • Discussion of Trump administration's crypto policies
  • Operation Chokepoint revelations

Technical & Ecosystem Updates

Validator Issues

  • Major slashing event affecting 1269 validators
  • ~21 ETH burned due to misconfiguration
  • Technical discussion about redundancy risks

Cross-Chain Developments

  • Pudgy Penguins announcing Solana expansion
    • Token launch strategy
    • Community reaction
    • Broader discussion about cross-chain development
  • Discussion about chain abstraction and standards

Infrastructure Discussions

  • EIP-7691 proposal
  • Gas limit increase debates
  • Based rollups performance discussion

Community & Media Discussion

Ecosystem Tribalism

  • ETH vs SOL narrative discussions
  • Media coverage debates
  • Community calls for less toxicity

Bankless Role

  • Discussion about podcast influence
  • Social media strategy debate
  • Community feedback about coverage balance

DeFi & Trading

Safety & Mechanics

  • AAVE liquidation mechanics
  • Risk management strategies
  • Flash crash impact analysis

Investment Trends

  • AI token discussion
    • Popular picks: GOAT, VIRTUAL, AIXBT
    • Trading strategies
  • Yield trading complexity (Pendle discussion)

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.

Published in Bankless

There’s a revolution in the world of money. Ethereum, Bitcoin, crypto, open finance, DeFi—a bankless revolution. And you want part of it.

Are you sure you want
to log out?
You'll lose access to your Bankless account until you log back in again. Oh and also, we'll miss you too much! 😢
Cancel
Continue
Account Light mode Log Out