Will This Cycle Skip ETH?
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.
- ⚡️ Lightning pursuing BTC stablecoins. This month, Lightning Labs successfully tested a protocol designed to enable stablecoin issuance on Bitcoin, Decrypt reports.
- 🗳️ CFTC moving against prediction markets. Prediction platforms like Polymarket are in the CFTC’s crosshairs after it approved a proposal to ban platforms from building markets around the outcomes of political activity.
- 🔵 Base is booming. Memecoins and SocialFi are growing the opportunity on Coinbase’s L2 chain, Franklin Templeton says, leading to a surge in the supply of USDC on the network to $2.5 billion.
📊 Free Money? Claims on EIGEN, the most anticipated airdrop of 2024, opened earlier today for the majority of eligible first-round recipients! What peculiarities come with this drop, and what can you actually do with your EIGEN?
| Prices as of 4pm ET | 24hr | 7d |
|
Crypto $2.25T | ↘ 2.5% | ↘ 2.2% |
|
BTC $60,648 | ↘ 2.7% | ↘ 2.0% |
|
ETH $2,900 | ↘ 4.0% | ↘ 5.7% |
“This bull cycle will skip Ethereum.”
I’ve heard this take among investors since September of 2023 at least. By skip they mean muted ETH performance, as in ETH underperforming BTC or barely beating Bitcoin.
Now, you can approach this question as an Ethereum hater, the type who thinks “Ethereum is dead” and has been succeeded by “newer technology.” I think that’s a boring 1-D take and obviously wrong. Full disclosure: I remain a full-on ETH bull.
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