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Bitcoin's L2 Dreams
Published on May 16, 2024
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NEED TO KNOW
Senate Knocks SEC
  1. 👨‍⚖️ Senate Votes to Repeal SEC Crypto Rule. In a 60-38 vote, the Senate moved to repeal the SEC’s policy requiring firms that custody crypto to record customer holdings on their balance sheets as liabilities
    Read more on Bankless.
  2. 👠 Pump.fun Hit for $2M in Flash Loan Exploit. Solana's buzzy memecoin launcher hit with attack.
    Read more on Bankless.
  3. 🚀 Blast's Token Airdrop Delayed. The L2's long-awaited drop will now take place June 26.
    Read more on Bankless.
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TODAY IN MARKETS
Synthetic Dollar Slump
Bankless Author: Jack Inabinet

📊 Fall from Grace. The token of synthetic dollar stablecoin issuer Ethena underwent an impressive post-launch surge, but once the initial rally petered out, ENA found itself caught in a perpetual downtrend! Why has ENA continued to plunge, and what moves is the team making to bolster adoption of its stablecoin?

Prices as of 4pm ET 24hr 7d
Crypto $2.35T ↘ 1.3% ↗ 1.7%
BTC $65,133 ↘ 1.1% ↗ 4.4%
ETH $2,941 ↘ 2.4% ↘ 2.5%
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ANALYSIS
The Curious Case of Bitcoin L2s
Bankless Author: Arjun Chand

Bitcoin has had an explosion in development.

It’s evolving from being laser-eyed on BTC as an asset to a more dynamic ecosystem that has different things for people to use, build, and speculate on.

Within the Bitcoin ecosystem, L2s are now the new hot thing. Everyone wants a piece of the Bitcoin L2 pie. But what’s the hype all about?

Let's dive in! 👇


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Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

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