# Is DeFi About to Rip?

*Author: Bankless*
*Published: Nov 8, 2024*
*Source: https://www.bankless.com/es/is-defi-about-to-rip*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/11/Group-652--1-.png)](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-bankless-guide-to-opensea&email=true)

  
Is DeFi About to Rip?
    
  

  
  Published on Nov 8, 2024

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[**Sponsor: Mantle**](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-bankless-guide-to-opensea&email=true) — Mass adoption of decentralized & token-governed technologies.

[Visit mantle.xyz to Learn More](https://www.bankless.com/sponsor/mantle-1706216729?ref=the-bankless-guide-to-opensea&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Gov Crypto Embrace
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/11/Group-14---2024-11-08T130636.513.png)](https://www.bankless.com/dashboard)- 🟠** Detroit Set to Accept Crypto Tax Payments. **The Michigan city is the largest in the U.S. to [support crypto payments](https://www.bankless.com/detroit-set-to-accept-crypto-tax-payments) for paying city fees and taxes.
- **📜 Ethereum Foundation Reveals $1B Treasury & New Conflict of Interest Policy. **The EF has enough runway [for the next half-decade and beyond](https://www.bankless.com/ethereum-foundation-1b-treasury).
- ⬛️** Jack Dorsey's Block Doubles Down on Bitcoin Mining, Abandons 'Web5'.** Jack Dorsey [takes a bigger bet on bitcoin infrastructure](https://www.bankless.com/jack-dorseys-block-doubles-down-on-bitcoin-mining-abandons-web5).

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MARKET VIBES

  
  
Is DeFi About to Rip?
  
   
     
 
     
    
 

**📸 Daily Market Snapshot: **DeFi's buzziest players from the past cycle pumped bigly off of Trump's election win, with Ethena, Aave, Maker and Lido seeing substantial weekly candles. With ETH nearing $3,000 and [DeFi mindshare growing](https://x.com/milesdeutscher/status/1854882325227794940), crypto investors are bidding up the long-tail DeFi protocols as well, hoping for a new Trump-induced bull run.

Prices as of 2pm ET
24hr
7d

 

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

  **Crypto**
   
          $2.53T
       

  
    
      ↗ 0.8%
    
  

   
    
    ↗ 8.6%
    
  

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

  **BTC**
   
          $76,717
       

  
    
    ↗ 0.4%
    
  

   
    
    ↗ 10.8%
    
  

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

  **ETH**
   
          $2,955
       

  
    
    ↗ 3.1%
    
  

   
    
    ↗ 17.9%
  

       ![](https://s2.coinmarketcap.com/static/img/coins/64x64/9481.png)
    

  **PENDLE**
   
          $5.29
       

  
    
    ↘ 1.5%
    
  

   
    
    ↗ 10.4%

    
  

  

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🕰️**New Token Rating: PENDLE** soared off the election of Donald Trump! What other catalysts does this unique DeFi token have at its back?[Unlock PENDLE on Token Hub](https://www.bankless.com/tools/token-hub/pendle-finance)

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LEARN

  
  
Get Up to Speed on OpenSea
  
  
  
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/11/image---2024-11-08T125245.625.png)](https://www.bankless.com/the-bankless-guide-to-opensea)OpenSea is getting ready for a big revamp launching next month!

In preparation, we've updated our Bankless Guide to the NFT marketplace, so you can get up to speed on their latest efforts ahead of their December OpenSea 2.0 re-launch.

*Let's dig in* 👇* *👇

[Read More on Bankless.com](https://www.bankless.com/the-bankless-guide-to-opensea)
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