Launchcoin & Believe | ETH's 50% Candle | Coinbase Listed on S&P 500 | Jon, Bread, & Andy8052
The crypto world rarely sleeps, and this past week it turned on the jets. On the latest Bankless Roundtable, David is joined by Jon Charbonneau, Bread, and Andy8052 to dive into one of the most eventful stretches of the year—from Ethereum’s shocking price surge to the viral explosion of the “internet capital markets” narrative.
🚀 Ethereum’s 50% Green Candle
The episode kicks off with the monster ETH rally: a 48% weekly candle that left jaws dropped across the industry. But the cause? Still unclear. ETF flows didn’t match the momentum, suggesting that this wasn’t institutional capital leading the charge, but rather crypto-native conviction possibly signaling a bottom. The gang explores the bullish and bearish takes—ETH as the logical exposure to stablecoins and tokenization, versus continued stagnation in actual onchain user activity compared to faster-moving ecosystems like Solana.
🧠 Launchcoin, Believe & the “Internet Capital Markets” Meme
The centerpiece of the discussion is Launchcoin—a token tied to the Believe app—and its explosive 15x rally, bringing back the spirit of fair launches, pseudo-equity, and memecoin chaos. Andy explains how the meta evolved from early experiments like Jelly to today’s viral token launches that blur the lines between products, memes, and capital formation. The guys debate whether this is meaningful innovation or just the latest wrapper on the same speculative hype.
Is this a viable onramp for bootstrapping consumer apps in Web3? Or are we just repackaging pump-and-dump dynamics with a new coat of UX polish?
🏦 Coinbase Joins the S&P 500
In a huge moment for crypto legitimacy, Coinbase officially joined the S&P 500. The guys reflect on how far the space has come—from the fringes of the internet to now being part of the world’s premier stock index. While Coinbase’s exposure to stablecoins (via Circle), ETF custodianship, and base sequencer profits make it a major crypto infrastructure play, there’s still skepticism about its long-term retail advantage, especially with Robinhood and others entering the game.
🧱 Robinhood Launching an L2?
Yes, you read that right. Robinhood has reportedly acquired WonderFi, a firm with a testnet ZK-rollup stack, potentially positioning itself to launch its own Ethereum L2. The crew dissects what this move means for Robinhood’s crypto ambitions and how it fits into the growing institutional appetite for onchain infrastructure.
💸 Are Memecoins Parasitic?
A lively debate emerges around whether Solana’s meme coin surge, fueled by platforms like Pump.fun and Bonk Launchpad, is actually bad for the Solana token itself. Jon introduces a compelling analogy: memecoins (like L2s on ETH) disperse capital away from the core asset, possibly capping its upside. Meanwhile, competition between launchpads is heating up—and margins are tightening across the board.
🧠 Key Takeaways:
- ETH's rally may have more to do with sentiment and native flows than TradFi ETF inflows.
- Launchcoin and Believe could represent a glimpse at what permissionless capital markets look like—but we’re still early.
- Coinbase’s S&P 500 inclusion is a major milestone for crypto legitimacy.
- Robinhood entering the L2 game is a huge bet on the onchain future.
- Meme coins continue to reshape capital dynamics in both Solana and Ethereum ecosystems.
From speculative tokens to billion-dollar acquisitions, the crypto ecosystem is entering a new phase of experimentation—and this time, institutions are paying attention.