Has ETH Bottomed Out? ($)
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 🤑 Franklin Templeton Plans Mutual Fund on Solana. The asset manager announced plans for a pooled investment vehicle on the chain at Solana's Breakpoint conference.
- 🌼 'Vitalik: An Ethereum Story' Documentary Debuts Onchain. The new documentary provides an intimate portrait of the Ethereum founder.
- 🦊 Judge Tosses Consensys Suit Against SEC. Consensys was seeking regulatory clarity around its MetaMask wallet offerings and ETH's security status.
📸 Daily Market Snapshot: Yesterday's glorious post-rate-cut rebound stalled for the broader crypto market Friday as BTC prices slipped and alts progress slowed. Meanwhile, a 3% bump took ETH back above $2,500 after spending most of September below the marker. Ethereum's investors are hoping for some extended relief after a down-only summer for ETH; will the recent rate cut provide the momentum needed for the ecosystem to recover?
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.19T | ↗ 0.2% | ↗ 4.3% |
|
BTC $62,871 | ↘ 0.4% | ↗ 4.8% |
|
ETH $2,545 | ↗ 3.2% | ↗ 5.1% |
|
PENDLE $3.60 | ↗ 4.2% | ↗ 5.0% |
Buzz around Fantom's transition to Sonic has sent the FTM token on a 40% climb this month.
Sonic is a fully EVM-compatible Layer-1 blockchain that combines the speed and scalability of an L1 chain with a custom Layer-2 bridge connected to Ethereum. This dual-layer design offers low-cost transactions, fast processing times, and enhanced security, making Sonic a hybrid solution between traditional L1 and L2 chains.
Its blockchain architecture supports over 2,000 transactions per second (TPS) with sub-second confirmation times, a significant improvement from Fantom’s previous 200 TPS on the Opera chain.
Take a look at our newest Bankless Guide with all of the Sonic details 👇
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.
🧑🌾 Farming Alpha: Although USD and BTC yields remained relatively resistant on a week-over-week basis, ETH yields decided to peter out. Vanilla WBTC lending through Frax is producing an impressive 13% APR due to high utilization a little more than two weeks ahead of Justin Sun’s WBTC acquisition, but Pendle fixed opportunities remain compelling alternatives to lock in historically high BTC yields on alternative tokens types for the next three months.
Top Opps:
- 🟠 BTC: 13% APY with Fraxlend’s WBTC pool on Ethereum
- 🟠 BTC: 9% APY with Convex’s EBTC-tBTC pool on Ethereum
- 🟠 BTC: 8% APY with Pendle’s LBTC (Corn) PT on Ethereum
- 🟠 BTC: 6% APY with Pendle’s eBTC pool on Ethereum
- 🟠 BTC: 6% APR with Convex’s WBTC-tBTC pool on Ethereum
- 🔵 ETH: 8% APY with Pendle’s amphrETH PT on Ethereum
- 🔵 ETH: 6% APR with Convex’s WETH-weETH pool on Ethereum
- 🟢 USD: 22% APR with Aerodrome’s DOLA-USDC pool on Base
- 🟢 USD: 13% APR with Convex’s crvUSD-sFRAX pool on Ethereum
- 🟢 USD: 11% APY with Pendle’s sUSDe PT on Ethereum
- 🟢 USD: 11% APY with Kamino’s PYUSD-USDC pool on Solana