Fear Grips Wall Street ($)
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- 😨 Grim U.S. Job Numbers Roil Markets. Volatility is back on the menu.
Read more on Bankless.com - 📈 Polymarket Surpasses $1B in Total Trading Volume. The popular predictions market had its best month ever in July as it attracted more election attention.
Read more on Bankless.com - 🏦 Morgan Stanley Advisors Soon Can Offer BTC ETFs to Clients. Financial advisors at the financial giant will be able to offer BTC ETFs to clients with net worths north of $1.5 million.
Read more on Bankless.com
📸 Daily Market Snapshot: Recession fears reignited as brutal July job numbers were released. The Nasdaq officially entered correction territory with today's 2.4% decline bringing it down 10% from its most recent all-time high. The fear also spread to crypto, bringing ETH down 5% on the day, with alts crashing hard as well.
| Prices as of 5pm ET | 24hr | 7d |
|
Crypto $2.22T | ↘3.9% | ↘7.9% |
|
BTC $61,860 | ↘4.5% | ↘8.8% |
|
ETH $2,991 | ↘5.3% | ↘8.3% |
|
W $0.225 | ↘6.1% | ↘22.2% |
There are plenty of layers to Ethereum.
You've seen us write about plenty of different Layer-2 networks on Bankless, but what really makes them each stand out from one another? We've spent a good chunk of this past couple weeks updating our most popular guides on Ethereum's most popular L2s.
Click through for free, newly updated Guides to Optimism, Arbitrum, Starknet, ZKsync, Polygon, Base, Scroll, Linea and more!👇
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🧑🌾 Farming Alpha: Fraxlend BTC yields rallied to a respectable 8%, yet onchain yields are broadly trending downwards alongside crypto prices. Pendle fixed rates are more attractive than many variable rate alternatives, but both Curve and Hop continue to provide healthy token-incentivized yields.
Top Opps:
- 🟠 BTC: 8% APY with Fraxlend’s WBTC pool on Ethereum
- 🟠 BTC: 40% APY with Curve’s eBTC-tBTC pool on Ethereum
- 🔵 ETH: 12% APY with Pendle’s amphrLRT on Ethereum
- 🔵 ETH: 9% APR with Hop’s ETH pool on Arbitrum
- 🟢 USD: 18% APY with Pendle’s sUSDe (Karak) PT on Ethereum
- 🟢 USD: 14% APY with Curve’s crvUSD-sFRAX pool on Ethereum
- 🟢 USD: 11% APY with Curve’s sDAI-USDM pool on Ethereum
- 🟢 USD: 10% APR with Hop’s DAI pool on Arbitrum
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.