Solana Breakpoint Breakdown $

gm Bankless Citizens, the market is cooking; we could get used to this!
Nov 10, 20234 min read
Solana Breakpoint Breakdown
Published on Nov 10, 2023
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gm Bankless Nation,
The market is cooking; we could get used to this!

Today's issue ⬇️

  1. ☀️ Need to Know: Poloniex Hacked
    Justin Sun's exchange hit for $125M+.
  2. 📊 Today in Markets: ARB's Moment
    ARB is up as the network boosts incentives.
  3. 🗞️ David's Takes: Solana Breakpoint
    David went to Solana's big conference; he has thoughts.
  4. 🎧 Rollup: The Bull Market is On
    Ryan & David unpack the market euphoria.
  5. 🧑‍🌾 Invest: This Week in Yield Opps
    Where we're farming. Citizens Only! 😎

-Bankless team

Sponsor: MetaMask — Bridge more assets. Save time and gas.

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Poloniex Hacked
  1. 🥷 Poloniex hacked for $$$. A hot wallet for Justin Sun's Poloniex exchange was hacked for $126M, Sun confirmed. They will be covering the losses.
  2. 🎮 ETH gaming tokens rebound. After a rough 2023, Ethereum-based gaming tokens are crushing it, led by IMX up 29% today.
  3. 💰 Celsius to exit bankruptcy. The embattled crypto lender received approval for a restructuring plan as its ex-CEO awaits a fraud trial.
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Arbitrum's Moment

📈 Arbitrum Making Moves. Arbitrum’s short-term incentive program (STIP) distributed $58M worth of ARB across 29 protocols. Early results are promising: $ARB is up big, its TVL reclaimed $2B, & daily active users are up 37%!

Prices as of 4pm ET 24hr 7d
Crypto $1.41T ↗ 2.4% ↗ 10.1%
BTC $37,248 ↗ 1.8% ↗ 7.5%
ETH $2,088 ↗ 2.5% ↗ 14.0%

Notable movers

ARB 7d

↗ 10.2%

GMX 7d

↗ 12.3%

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What I Learned at Solana Breakpoint
Bankless Author: David Hoffman

We've been talking a lot about the Ethereum and Solana communities and what their respective values are.

Nuance tends to get lost on Crypto Twitter, so to get the full picture of what the Solana Community looks like in 2023, our very own David Hoffman went to Solana's Breakpoint conference to get the vibes straight from the source.

Let's dig in with the latest free long read from David 👇


More supported tokens and less gas! You can now use the Bridge feature on MetaMask Portfolio to not only move your tokens to a different network, but swap them into a different token of your choice, all as part of the same transaction.

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The Bull Market is On

David and Ryan are declaring this bear market officially over!!!

What's making them feel so sure? They dig into the latest market action to showcase why things are looking up-only from here.

Watch the full episode for all the details 👇

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This Week's Yield Opps

🧑‍🌾 Farming Alpha: While Across is offering higher yields on WBTC than Fraxlend, 50% of the yield is derived from token inflation. Hop’s ETH pool on Linea is yielding 19.2% from trading fees, with an additional 7% paid out in WETH to incentivize deposits. Stablecoin yield ops look juicy across the board; just choose your chain!

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.