Bitcoin Needs Apps
Published on Dec 5, 2023
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NEED TO KNOW
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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TODAY IN MARKETS
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
$0.000227

โ†— 96.4%

Terra 7d
$1.14

โ†— 50.3%

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ANALYSIS
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‘‡


FRIEND & SPONSOR: KRAKEN

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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LATEST POD
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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