# Bitcoin Needs Apps

*Author: Bankless*
*Published: Dec 5, 2023*
*Source: https://www.bankless.com/es/bitcoin-needs-apps-2*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/12/coin_guy_2-49.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=bitcoin-needs-apps&email=true)

  

    Bitcoin Needs Apps
  
  

  
  Published on Dec 5, 2023

[
  
  View in Browser

](https://bankless.com/read/briefs)
 

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[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=bitcoin-needs-apps&email=true) — Sign up for an account and see what crypto can be.

[Sign up for Kraken](https://www.bankless.com/sponsor/kraken-1682978636?ref=bitcoin-needs-apps&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
    DeFi Bounces Back
  
  

  

 

![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/12/Frame-50445--35-.png)- **💸 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.](https://x.com/CoinDesk/status/1731988713985413224?s=20)
- **🇺🇸 Crypto loses DC ally.** Crypto-friendly congressman** **Patrick McHenry [won't be seeking re-election, a loss for crypto lobbyists.](https://x.com/PatrickMcHenry/status/1732089840819228919?s=20)
- **🤖 Musk's AI bid.** Occasional crypto market mover Elon Musk [is raising up to $1B for a new AI effort.](https://x.com/axios/status/1732122087727239408?s=20) He has repeatedly said his companies won't issue tokens.

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
    Terra's Unlikely Resurrection Bid
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/12/image--45-.png)](https://www.bankless.com/terra-plots-resurrection)**📊 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

 

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

  **Crypto**
   
          $1.59T
       

  
    
    ↗ 3.2%
    
  

   
    
    ↗ 11.1%
    
  

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

  **BTC**
   
          $43,725
       

  
    
    ↗ 4.8%
    
  

   
    
    ↗ 14.7%
    
  

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

  **ETH**
   
          $2,266
       

  
    
    ↗ 1.8%
    
  

   
    
    ↗ 10.0%
    
  

  

        

        

        **Notable Movers:**

        
            
                            
                

                    ![](https://s2.coinmarketcap.com/static/img/coins/64x64/4172.png)

                    
                        Terra Classic                         7d 
                        

                        
                               $0.000227                            
                    

                                            
                            ↗ 96.4%                        

                        
                
            
                        
                

                    ![](https://s2.coinmarketcap.com/static/img/coins/64x64/20314.png)

                    
                        Terra                         7d 
                        

                        
                               $1.14                            
                    

                                            
                            ↗ 50.3%                        

                        
                
            
                        

        
        

[Unlock Today's Full Market Analysis](https://www.bankless.com/terra-plots-resurrection)

.  .  .

 
  
    

    ANALYSIS

  
  
    
    Bitcoin Needs Apps
  
  
  
  
  
   
     
     Bankless Author: 
     
      [
       
       Jack Inabinet
     
    ](https://twitter.com/JackInabinet)
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2023/12/image--46--1.png)](https://www.bankless.com/bitcoin-needs-apps)Bitcoin has a big problem – 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 it…

**Read our full *free* analysis on our website 👇**

[Get the Full Analysis](https://www.bankless.com/bitcoin-needs-apps)
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