Bitcoin Needs Apps
Published on Dec 5, 2023
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DeFi Bounces Back
  1. ๐Ÿ’ธ DeFi TVL surges. It's not just Blast; DeFi TVL is up across the board, led by Lido, with crypto TVL now breaking above $50 billion.
  2. ๐Ÿ‡บ๐Ÿ‡ธ Crypto loses DC ally. Crypto-friendly congressman Patrick McHenry won't be seeking re-election, a loss for crypto lobbyists.
  3. ๐Ÿค– Musk's AI bid. Occasional crypto market mover Elon Musk is raising up to $1B for a new AI effort. He has repeatedly said his companies won't issue tokens.
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Terra's Unlikely Resurrection Bid

๐Ÿ“Š Signs of Life? Many in crypto wrote off Terra as a total failure after its collapse in May 2022, but signs of life are emerging onchain! Terra Classic (LUNC) and Terra2 (LUNA) have both experienced massive increases in TVL, up 350% and 610%, respectively, over the past month. Can what is dead truly ever die?

Prices as of 4pm ET 24hr 7d
Crypto $1.59T โ†— 3.2% โ†— 11.1%
BTC $43,725 โ†— 4.8% โ†— 14.7%
ETH $2,266 โ†— 1.8% โ†— 10.0%

Notable Movers:

Terra Classic 7d

โ†— 96.4%

Terra 7d

โ†— 50.3%

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Bitcoin Needs Apps
Bankless Author: Jack Inabinet

Bitcoin has a big problem โ€“ its security costs. Miners rely on inflationary block rewards and user transaction fees. Bitcoin must increase transaction fee revenue, but in order to do so, Bitcoin must first give people a reason to want to use itโ€ฆ

Read our full free analysis on our website ๐Ÿ‘‡


Kraken is one of the largest and most secure crypto platforms in the world. They've been in the crypto game for over a decade, and now they're inviting us all on a journey to see what crypto can be.

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Ethereum is Hilariously Underpriced

Someone has to say it. ETH at $2.2k is hilarious. Everyone is out here trading "what-ifs?" this cycle when Ethereum has fundamentals.

Let us tell you why $2.2k ETH doesn't make any sense ๐Ÿ‘‡

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What We're Doing

Each week, Citizens get a curated list of market opportunities that the Bankless team is watching. As a free subscriber, you're missing out! ๐Ÿ‘‡

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