DeFi, Ethereum, Investing

Bull Trap, or Bull Market? with Vance Spencer

Vance Spencer is the Co-Founder of Framework Ventures, a VC firm that got its claim to fame by sticking around during the 2018-2020 bear market, going all-in on DeFi before we had a name for it, and taking risks and finding gems while everyone else fled the industry.
Jan 25, 202300:52:49

Inside the episode

This is Vance’s 4th appearance on Bankless, because in addition to being a chad VC, he’s also adept at measuring the markets and understanding metas, which is what we’re looking to do here today.

Bitcoin is down 66% from the top, but up 50% from the bottom! ETH Down 66% from the top, but up 75% from the bottom! Solana down 90%, but up 200% from the bottom! Meanwhile, Ethereum’s L2 ecosystem is HOT. OP is hitting ATHs. RPL is at its highs in ETH terms, nearing highs in USD terms… Aptos is somehow at a 16B valuation.

Question: Where are we??? Vance has the answer.


0:00 Intro

6:24 Vance's Read of the Market

8:10 Ranging

9:40 Indicators

13:00 Apathy Market

15:30 Trends

18:41 Institutions

22:45 Is FTX a Permanent Stain?

25:45 Aptos

29:30 Alt-L1s

35:05 Private Markets

37:24 Crypto Gaming

41:15 Future of DeFi Tokens

43:39 Macro & Recession

45:40 ETH/BTC

49:40 Alt-L1s Over?

51:05 2023

51:50 Closing & Disclaimers


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