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Citizen Daily Brief

Crypto Stock Rebound? ($)

gm Bankless Citizen, after a brutal week, BTC was back above $43K as traders hoped for a return to bull vibes.
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Jan 29, 2024 โ€ข 3 min read
Crypto Stock Rebound?
Published on Jan 29, 2024
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Sponsor: Mantle โ€” Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
No ETH ETF until 2026?
  1. ๐Ÿšซ No ETH ETF until 2026? Investment bank TD Cowen's research group doesn't think a spot Ether ETF is coming until "late 2025 or early 2026."
  2. ๐Ÿ˜พ Anticipated Ordinals drop flails. The anticipated drop of the "Quantum Cats" Bitcoin inscriptions by Taproot Wizards had to be delayed after suffering tech issues.
  3. ๐Ÿ’ผ Magic Eden debuts multi-chain wallet. NFT marketplace Magic Eden widely shipped its wallet which supports Solana, Bitcoin, Polygon and Ethereum.
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TODAY IN MARKETS
Crypto Stocks Outpace Crypto

๐Ÿ“Š Crypto stocks recovering. Crypto equities have dumped all month, but theyโ€™re finally catching a bid alongside broader crypto markets! Why has negative price action reversed?

Prices as of 6pm ET 24hr 7d
Crypto $1.66T โ†— 3.1% โ†— 5.7%
BTC $43,157 โ†— 3.3% โ†— 8.4%
ETH $2,313 โ†— 2.9% โ†˜ 0.2%


Notable Movers:

COIN 1D
$132.82

โ†— 6.1%

CLSK 1D
$8.53

โ†— 6.5%

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LEARN
Getting Started with Frax Bonds
Bankless Author: William Peaster

Frax Finance has been one of the more innovative protocols in crypto. It's a stablecoin protocol, so the project creates tokens that are pegged to the values of other assets for easy use across the crypto economy. 

This month, they shook things up when they introduced Frax Bonds (FXB) to complete the FRAX tokenโ€™s V3 upgrade. 

Learn how to try them out ๐Ÿ‘‡๐Ÿ‘‡๐Ÿ‘‡


FRIEND & SPONSOR: MANTLE

Mass adoption of token-governed technologies. With Mantle Network โ€“ an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.

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LATEST POD
Read. Write. Own. w/ Chris Dixon

Andreessen Horowitz's Chris Dixon knows a thing or two about the web3 opportunity.

Chris returns to the podcast to discuss his new book, Read. Write. Own. which presents his mental model for the crypto internet. Chris is one of the most articulate people we know at explaining crypto as an evolution of the internet.

Bankless Citizens get Early Access to our Monday podcast and an exclusive Debrief from David & Ryan unpacking the interview๐Ÿ‘‡

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AIRDROP HUNTER
Latest Hunt: Renzo

It's Airdrop Season! Renzo is a hot liquid restaking protocol on EigenLayer, and it's providing early depositors with ezPoints for depositing! We've added three quests for the protocol to Airdrop Hunter. Check them all out! ๐Ÿ‘‡

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.

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