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Citizen Daily Brief

Modular Blockchain Mania ($)

gm Bankless Citizen, public markets ended the week on top as crypto slid; is there a pump on the way?
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Dec 15, 20233 min read
Modular Blockchain Mania
Published on Dec 15, 2023
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Sponsor: Kraken — Sign up for an account and see what crypto can be.

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NEED TO KNOW
Gary Doesn't Want to Work
  1. 🙅 SEC doesn't want rules. The SEC denied Coinbase's push for detailed crypto rules as "unwarranted," Coinbase's legal officer called the SEC's move an "abdication of its duty."
  2. 🥶 ARB partial outage. Arbitrum was hit by a partial outage Friday after a transaction surge stalled the network's sequencer.
  3. 🐕 BONK drives phone sales. A BONK airdrop available to every Saga phone owner is worth more than the phone costs, leading investors to ape the arbitrage opportunity.
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TODAY IN MARKETS
Modular Mania

📊 Modular money. Crypto tokens pared back this week’s gains on Friday morning. Bitcoin and Ethereum both fell 2-3%. BONK's ridiculous breakout surge calmed Friday morning as well, staying relatively flat alongside SOL. It wasn't all yawns this AM, however, as investors capped off a bullish week for modular blockchain products and dapps with even more action.

Prices as of 4pm ET 24hr 7d
Crypto $1.59T ↘ 1.6% ↘ 2.4%
BTC $42,175.80 ↘ 1.9% ↘ 4.1%
ETH $2,249.85 ↘ 1.6% ↘ 4.6%
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LEARN
What is Lightning Network?

We talk an awful lot about Ethereum L2s in these here parts, but we don't talk about L2s as much in relation to Bitcoin. Why is that? Well, there are a lot of reasons, but one is that Lightning Network is pretty unique. This guide shows you why.

Read the full guide on our website 👇


FRIEND & SPONSOR: KRAKEN

Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.

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ROLLUP
The Fed Pivots

Recession avoided?? On this week's Weekly Rollup, Ryan and David discuss the Fed's latest actions in monetary policy and Elizabeth Warren's regulatory revenge. Oh yeah, we talk about airdrops too! 🤑

Get all of our thoughts 👇

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INVEST
This Week's Yield Opps

🧑‍🌾 Farming Alpha: Umami continues to be the go-to platform for juiced single-sided yields on Ethereum, thanks to their STIP grant. Kamino and Meteora are both offering attractive SOL yields, incentivized by token rewards. Swap fees on USDV pairs are paying out LPs juicy yields on Velodrome.

Top Opps:

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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