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Daily Brief

Our 40+ Token Predictions

gm Bankless Nation, it's been a whirlwind week for markets, and it's also been a good time to see how our token grading product Token Hub has held up to an unpredictable market.
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Aug 9, 2024 โ€ข 3 min read
Our 40+ Token Predictions
Published on Aug 9, 2024
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Sponsor: Mantle โ€” Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
Crypto Execs Meet with Dems
  1. ๐Ÿซ Crypto Execs Express Concerns to Biden-Harris White House Officials. Some of crypto's top leaders met with Democratic leaders and White House advisors.
  2. ๐Ÿง‘โ€โš–๏ธ SEC Reportedly Taking Aim at Crypto VC Firms. The 3 subpoenaed VC firms were not named in the report from DL News.
  3. ๐Ÿช™ Ripple Begins Testing RLUSD Stablecoin on Ethereum & XRP. After its lawsuit resolution, Ripple is getting to work on beta testing of Ripple USD.
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MARKET VIBES
Week of Panic Subsides

๐Ÿ“ธ Daily Market Snapshot: After spiking as high as $62.5K yesterday, flushing out shorts in the process, BTC spent the day sitting comfortably at the $60K marker with reassuring macro signs largely pushing traders to treat last weekend's sell-off, which took BTC below $50K, as a fluke.

Prices as of 5pm ET 24hr 7d
Crypto $2.10T โ†—0.4% โ†˜4.5%
BTC $60,154 โ†—0.8% โ†˜2.8%
ETH $2,571 โ†˜0.2% โ†˜14.0%
MATIC $0.42 โ†—0.2% โ†˜10.2%

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New Token Rating: Polygon is Ethereumโ€™s most valuable scaling solution by fully diluted market cap. What does the future hold for Polygon as the network transitions to POL?
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ANALYSIS
How Our 40+ Token Hub Ratings Are Performing
Bankless Author: Jack Inabinet

This year, we restarted the Bankless Token Hub, where, every weekday, our analyst team digs into a token's potential future price performance and gives it a bullish, bearish or neutral rating with a brief write-up justifying that rating on a three-month investment timeline.

Right now, we have 41 active token ratings in the Citizen-only app. Today, we just added a rating on Polygon's native token.

As we continue to lay out new ratings and adjust to the shifting financial landscape, we wanted to take a look back at our past performance rating tokens, especially during a period when the market was dealt some major shocks. We didn't do too bad!

Today, weโ€™re showing Citizens a few of our most notable token ratings from this summer, and digging into what exactly we got right and what we overlooked. You can check out the Token Hub app right now to see all of our active ratings! ๐Ÿ‘‡


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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INVEST
This Week's Yield Opps

Each week, Citizens get a curated list of yield opportunities that the Bankless team is watching. As a free subscriber, you're missing out! ๐Ÿ‘‡

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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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