Welcome to Restaking Summer
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- 👎 BTC ETF flows go negative. GBTC dumping outpaced inflows on Wednesday with a net outflow of $158 million. JPMorgan has said Grayscale pressure is likely over.
- 🇺🇸 US prepping to unload BTC. The government is getting ready to sell $117 million worth of BTC it seized in 2018 from a pair of individuals connected to Silk Road.
- 🦢 Swan debuts mining arm. Swan is getting into the mining game, announcing today they have mined 750 BTC and are scaling operations to hit "full deployment" in March.
📊 AI energy. Chip designer Nvidia is off to a strong start in 2024, posting gains of 27% and upping its market cap by $320B, an increase equivalent to one-fifth of the size of the total crypto market! What crypto play has given investors exposure to AI upside?
| Prices as of 4pm ET | 24hr | 7d |
|
Crypto $1.55T | ↗ 0.3% | ↘ 4.9% |
|
BTC $39,818 | ↗ 0.2% | ↘ 3.1% |
|
ETH $2,217 | ↗ 0.3% | ↘ 9.8% |
EigenLayer is a hot topic lately, but just how big is the opportunity?
Today, we’ll be discussing why it's a game changer, giving examples of the types of services that can be built on top of it, presenting you with our rationale for why EigenLayer is the next billion-dollar airdrop, and estimating how large of an airdrop you can expect to receive by participating in the EigenLayer opportunity.
All your EigenLayer airdrop questions answered 👇👇👇
Mass adoption of token-governed technologies. With Mantle Network – an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.
Many Bankless Citizens who completed the Jito quests in our Airdrop Hunter app just earned $10k+ airdrop paydays!
It's airdrop season and plenty of other protocols are preparing to reward early users. Get on their lists. Start hunting!
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.