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Daily Brief

Crypto's Trump Bump?

gm Bankless Nation, BTC traders had another stressful day as Germany hit the sell button on its reserves, but Donald Trump's promise to unfurl the war on crypto inspired hope.
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Jul 8, 2024 β€’ 3 min read
Crypto's Trump Bump?
Published on July 8, 2024
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Sponsor: Mantle β€” Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
Germany Offloads BTC
  1. πŸ‡©πŸ‡ͺ German Gov’s Bitcoin Selling Spree Revs Up. Sales of more than $900 million in BTC sent a shock to the markets.
    Read more on Bankless.com
  2. πŸ›‘οΈ Ethereum Foundation and Immunefi Launch 'Attackathon.' The Ethereum Foundation sponsors a crowdsourced security audit competition.
    Read more on Bankless.com
  3. πŸ’° Crypto Flows Show Institutions are Still Buying. Despite market panic, crypto investment products saw $441M in inflows last week.
    Read more on Bankless.com
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MARKET VIBES
Waiting for Trump Bump?

πŸ“Έ Daily Market Snapshot: A bearish holiday weekend for crypto markets capped off by $900M in BTC sales from the German government Monday left Crypto Twitter deep in panic. But Trump including a pledge to end the crypto crackdown as part of his official platform offered some hope.

Prices as of 5pm ET 24hr 7d
Crypto $2.08T β†˜0.8% β†˜10.7%
BTC $56,234 β†˜1.6% β†˜11.0%
ETH $2,987 β†˜0.4% β†˜13.8%
ONDO $0.917 β†˜1.6% β†˜24.1%

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New Token Rating: Ondo Finance has plunged 30% off its early June all-time high. Is ONDO now a bargain buy at its current $9B valuation?
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TACTIC
How to Restake on Symbiotic
Bankless Author: William M. Peaster

EigenLayer changed the game by introducing the restaking primitive to the Ethereum ecosystem, yet it was only a matter of time until challengers rose up and started trying to beat EigenLayer at its own game!

The big challenger making a big splash lately is Symbiotic, a new restaking protocol that aims to offer restakers more options beyond just ETH. 

In this guide, we’ll walk you through the big ideas of Symbiotic and then show you how to get started with your first deposits πŸ‘‡


FRIEND & SPONSOR: MANTLE

Mantle kickstarts Season 1 of Methamorphosis. Building on the success of their Liquid Staking Token, mETH, Mantle LSP announces plans for a new Liquid Restaking Token, cmETH, along with a governance token, COOK. With Methamorphosis, participants can now farm Powder for future COOK tokens and position themselves early for upcoming cmETH release.

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LATEST POD
Trump, Tech, and Crypto

Is the U.S. going to be ok?

Mike Solana (no relation to the chain) is the editor-in-chief of Pirate Wires and the guy who broke the Trump Memecoin news. We brought him on the show today to try to make sense of the current state of politics in the face of the upcoming election and what it all means for crypto.

Expect to learn why tech has pivoted right, why Democrats are cracking down on crypto, why media in 2024 is fundamentally broken, and much more.

Citizens get Early Access to the Monday Podcast and Ryan & David's exclusive Debrief on the interview πŸ‘‡

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

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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