Bitcoin Needs Apps ($)
View in Browser
Sponsor: Kraken — Sign up for an account and see what crypto can be.
- 💸 DeFi TVL surges. It's not just Blast; DeFi TVL is up across the board, led by Lido, with crypto TVL now breaking above $50 billion.
- 🇺🇸 Crypto loses DC ally. Crypto-friendly congressman Patrick McHenry won't be seeking re-election, a loss for crypto lobbyists.
- 🤖 Musk's AI bid. Occasional crypto market mover Elon Musk is raising up to $1B for a new AI effort. He has repeatedly said his companies won't issue tokens.
📊 Signs of Life? Many in crypto wrote off Terra as a total failure after its collapse in May 2022, but signs of life are emerging onchain! Terra Classic (LUNC) and Terra2 (LUNA) have both experienced massive increases in TVL, up 350% and 610%, respectively, over the past month. Can what is dead truly ever die?
| Prices as of 4pm ET | 24hr | 7d |
|
Crypto $1.59T | ↗ 3.2% | ↗ 11.1% |
|
BTC $43,725 | ↗ 4.8% | ↗ 14.7% |
|
ETH $2,266 | ↗ 1.8% | ↗ 10.0% |
Notable Movers:
Terra Classic 7d
↗ 96.4% |
Terra 7d
↗ 50.3% |
Bitcoin has a big problem – its security costs. Miners rely on inflationary block rewards and user transaction fees. Bitcoin must increase transaction fee revenue, but in order to do so, Bitcoin must first give people a reason to want to use it…
Read our full free analysis on our website 👇
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.
Someone has to say it. ETH at $2.2k is hilarious. Everyone is out here trading "what-ifs?" this cycle when Ethereum has fundamentals.
Let us tell you why $2.2k ETH doesn't make any sense 👇
Each week, Citizens get a curated list of market opportunities that the Bankless team is watching. Thanks for subscribing! 👇
- 🥩 Staking BlastETH through Hourglass
- ✌️ Getting diversified LST exposure with yETH
- 💧 Exploring the new Mantle liquid staking protocol
- 🍵 Trying Matcha’s new Cross-Chain Swaps (and Phantom’s)
- 🏎️ Testing the new NFTX V3 system on testnet
- 🍬 Minting the !fundrop Finale ID on mint.fun
- 👨🔬 Checking for NFTs affected by the thirdweb vulnerability
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.