Bitcoin Up, ETH Down ($)

gm Bankless Citizens, what in the Worldcoin...
Nov 17, 20233 min read
Bitcoin Up, ETH Down
Published on Nov 17, 2023
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gm Bankless Nation,
What in the Worldcoin...

Today's issue ⬇️

  1. ☀️ Need to Know: Altman Out
    Worldcoin's founder loses his other job.
  2. 📊 Today in Markets: ETH Struggles
    The ETH/BTC ratio keeps dropping.
  3. 🗞️ Analysis: Backpack Review
    Hands-on with Solana's buzziest wallet.
  4. 🎧 Rollup: Bull Market Week Two
    What's going on with these spot ETFs?
  5. 🧑‍🌾 Invest: Yield Opps
    The yields we're watching this week.

Sponsor: Asymetrix
Empower your stETH with Asymetrix V2's enhanced core features!

.  .  .
Worldcoin's AI Problem
  1. 🗑️ Sam Altman shelved. OpenAI's board fired CEO Sam Altman, a surprise move which sent the price of Worldcoin's WLD token plunging.
  2. 🤨 What are Gary's ETF plans? The SEC continues to delay spot BTC ETF decisions, but is also talking to exchanges? What's Gary up to?
  3. 💰 Jump spins out Wormhole. Jump Trading is reportedly dialing back its crypto biz, spinning out the cross-chain bridge it spent $320M propping up after its big hack.
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ETH Struggles Against BTC

📊 ETH Struggles: Bitcoin up, Ethereum down! ETH/BTC is down 1.6% today and on the verge of retracing the relief rally incepted by BlackRock’s decision to file for a spot Ether ETF. Will the ratio continue to trade lower?

Prices as of 4pm ET 24hr 7d
Crypto $1.38T ↗ 0.2% ↘ 2.8%
BTC $36,466 ↗ 1.1% ↘ 2.4%
ETH $1,949 ↘ 0.6% ↘ 6.9%
.  .  .
Review: Backpack Wallet
Bankless Author: Jack Inabinet

So, not sure if you've heard, but Solana has been awfully hot lately. Today, we're taking a close look at one of the buzzier wallets on the network.

Dig in for the full free review 👇


Explore Asymetrix V2 – A decentralized protocol that maximizes your stETH earnings through asymmetric yield distribution from staking. With V2, you can get up to a 4x BOOST in rewards of the protocol’s initial token distribution, 4x BOOST odds in weekly draws, and the opportunity to join Mini-Pools.

.  .  .
Bull Market Week Two

Despite a mixed week for the majors, the bull market action is still in full effect. What tokens and projects are we watching?

Watch the full episode for all the details 👇

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This Week's Yield Opps

🧑‍🌾 Farming Alpha: Umami is serving up juicy delta-target yields across the board thanks to Arbitrum’s Short Term Incentive Program! Hop is incentivizing ETH LPs on Linea with WETH, and Aerodrome has sweet yields on tap for Base users. Farm responsibly!

Top Opps:

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.