Where's the ETH Bottom? ($)
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- 🥷 FBI Reports Huge Crypto Fraud Surge in 2023. The FBI reports crypto-related fraud schemes cost victims as much as $5.6 billion.
- 🧑💻 Venmo, PayPal Integrate ENS Domains. Users will soon be able to send crypto payments to .eth addresses.
- 🇺🇸 North Carolina Senate Passes Bill Banning CBDCs. The Republican-led Senate managed to override a governor veto.
📸 Daily Market Snapshot: The Ethereum L2 sector has had a truly brutal spring and summer with most major players down 60+% since they topped out at the beginning of the year. Starknet's STRK token is in a tougher spot than most, down a whopping 89% since its debut, falling another 6% on Tuesday.
| Prices as of 6pm ET | 24hr | 7d |
|
Crypto $2.03T | ↗ 0.6% | 0.0% |
|
BTC $57,634 | ↗ 0.3% | ↘ 0.8% |
|
ETH $2,381 | ↗ 0.6% | ↘ 3.4% |
|
APE $0.83 | ↗ 2.8% | ↗ 40.2% |
Ethereum has been in hot water lately.
Sentiment is down, and critics have been quick to point out ETH's underperformance against SOL while largely attributing this to a perceived loss of mindshare and users to L2s.
This narrative has sparked a crucial debate: Are L2s Ethereum? The answer, as with most things in crypto, is a delightful mix of mess and simplicity.
So, let’s take a closer look at both sides of this argument and explore the relationship between Ethereum and L2s. 👇
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When is this all going to reverse?
That’s the question we asked Benjamin Cowen – YouTuber, founder of Into The CryptoVerse, and chart maximalist – who does some fantastic technical analysis.
The main goal of this pod is to understand if we're currently going through Ethereum’s bottom, but we also cover:
- Are crypto 4-year cycles dead?
- What’s next for ETH/BTC?
- How’s Ben positioning his portfolio for what’s coming?
Hear all of the analysis! 👇
- 🧑⚖️ Crypto Policy Needs to Empower Builders, Not Speculators - Christian Catalini, et al.
- 🔦 Socket Protocol: The First Chain-Abstraction Protocol - Socket Team
- 🧠 My (e)thesis: settlement, data availability, execution - Mike Neuder
- 🔑 The New EigenLayer Security Model - Sreeram Kannan
- ☑️ 1 GB blocks to Build Whatever - Celestia Foundation
- 📸 Introducing Snapshot X - Snapshot Labs
- 🇺🇸 Crypto Needs Kamala To Win - Ben Lilly
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.
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