Still Bullish on Crypto ($)
View in Browser
Sponsor: Cartesi — build app-specific rollups with Web2 tooling without the constraints of Web3!
- 🏢 Jersey City Bets on Bitcoin ETFs. The city's pension fund is the latest buyer, showcasing more interest among institutions in crypto ETFs.
Read more on Bankless.com - 🌌 Galaxy Raises $113M for New Venture Fund. Mike Novogratz's Galaxy Asset Management banks new funding to invest in crypto startups.
Read more on Bankless.com - ♻️ Jito Enters the Restaking Game. Solana's staking kingpin details its long-awaited entrance into restaking.
Read more on Bankless.com
📸 Daily Market Snapshot: ETH had a tough morning. Yesterday saw $327M in outflows from Grayscale's ETHE, bringing a Day 2 net decline for Ethereum's spot ETFs. This morning, the asset faced a sudden sell-off, briefly falling below $3,100 after spending much of the week above $3,500.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.35T | ↘0.7% | ↗0.4% |
|
BTC $65,852 | ↗0.6% | ↗3.3% |
|
ETH $3,168 | ↘4.8% | ↘7.5% |
|
JTO $2.66 | ↘3.2% | ↗10.8% |
The herd is coming, or is it already here?
Mike Novogratz needs no introduction for long-time crypto natives. He's a fund manager who was early to bitcoin, very early to ethereum, built an entire digital assets empire called Galaxy Digital and has spent the last 10 years evangelizing crypto to Wall Street and, more recently, DC.
We cover how Crypto has evolved from 2014 to 2024, Wall Street’s current perception of our industry, the recent ETH ETF launch, Politics, and Macro.
Mike ends the episode giving extremely important advice for young investors so stay tuned👇
While EthCC does, of course, center around Ethereum, a lot of the conversations I had in Brussels earlier this month and the major takeaways I brought back with me, spanned the entire crypto ecosystem.
With so many smart people occupying one city and so many side events at my disposal, it really was a choose-your-own-adventure for digging into niche interests. I spent a lot of my time talking with fellow attendees about how Ethereum's L2s and other Alt-L1s would respond to Solana's rise, what decentralized AI needs to take off, how to navigate the landscape of endless new chains, and how to prepare for big launches like Berachain and Monad.
Let’s dive into my takeways from the conference 👇
Cartesi has a challenge for all talented devs! Try to hack their Honeypot dApp. Compete in a bug-bounty initiative to test, scrutinize, and refine the underlying code of Cartesi Rollups!
Each week, Citizens get a curated list of market opportunities that the Bankless team is watching 👇
- ⚖️ Exploring the Overtime Markets V2
- 🎨 Trying out the new Shape L2 testnet
- 🪙 Starting Vault Streaks on Wasabi
- 🎥 Minting the Ethereumfilm.xyz trailer
- 🎮 Playing the official Illuvium game launch
- 🟠 Trading Bitcoin transaction fees on Alkimiya
- 🔵 Redeeming Based Introduced NFTs for $BASED