# Will This Cycle Skip ETH?

*Author: Bankless*
*Published: May 10, 2024*
*Source: https://www.bankless.com/de/will-this-cycle-skip-eth*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Frame-50474--7--2--1--4.png)](https://www.bankless.com/sponsor/mantle-1706216729?ref=will-this-cycle-skip-ethereum&email=true)

  
Will This Cycle Skip ETH?
  

  
  Published on May 10, 2024

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  View in Browser

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.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
BTC Stablecoins?
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Group-15--23-.png)](https://www.bankless.com/dashboard)- ⚡️ **Lightning pursuing BTC stablecoins. **This month, Lightning Labs successfully tested a protocol designed to enable stablecoin issuance on Bitcoin, [Decrypt](https://decrypt.co/230216/lightning-labs-stablecoins-on-bitcoin-blockchain-ceo) reports.
- 🗳️** CFTC moving against prediction markets. **Prediction platforms like Polymarket [are in the CFTC’s crosshairs](https://www.coindesk.com/policy/2024/05/10/us-cftc-proposes-ban-on-political-event-contracts) 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](https://twitter.com/FTI_DA/status/1788617086261944799), leading to a surge in the supply of USDC on the network to $2.5 billion.

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
EIGEN Claim Kicks Off
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-10T143828.110-1.png)](https://www.bankless.com/eigen-claim-kicks-off)**📊 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? *

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Prices as of 4pm ET
24hr
7d

 

       ![](https://banklesspublic.b-cdn.net/cmc.png)
    

  **Crypto**
   
          $2.25T
       

  
    
    ↘ 2.5%
    
  

   
    
    ↘ 2.2%
    
  

       ![](https://banklesspublic.b-cdn.net/btc.png)
    

  **BTC**
   
          $60,648
       

  
    
    ↘ 2.7%
    
  

   
    
    ↘ 2.0%
    
  

       ![](https://banklesspublic.b-cdn.net/eth.png)
    

  **ETH**
   
          $2,900
       

  
    
    ↘ 4.0%
    
  

   
    
    ↘ 5.7%
    
  

  

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    OPINION

  
  
    
   
Will This Cycle Skip Ethereum?
  
  
   
     
     Bankless Author: 
     
      [
       
       Ryan Sean Adams](https://twitter.com/RyanSAdams)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-10T151926.095.png)](https://www.bankless.com/will-this-cycle-skip-ethereum)**“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.

Here are the perspectives you should be thinking about *👇

[Read RSA's Full Take](https://www.bankless.com/will-this-cycle-skip-ethereum)
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