# Is This Cycle Cooked?

*Author: Bankless*
*Published: May 6, 2024*
*Source: https://www.bankless.com/es/is-this-cycle-cooked*

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[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Group-629--3--2.png)](https://www.bankless.com/sponsor/kraken-1682978636?ref=cycle-could-be-cooked&email=true)

  

    Is This Cycle Cooked?

  

  
  Published on May 6, 2024

[
  
  View in Browser

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

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[**Sponsor: Kraken**](https://www.bankless.com/sponsor/kraken-1682978636?ref=cycle-could-be-cooked&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=cycle-could-be-cooked&email=true)

.  .  .

 
  
    
      
      NEED TO KNOW
    
    
  
  
    
Robinhood Next?
  

  

 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/Group-15--19-.png)](https://www.bankless.com/dashboard)- 🪶** Robinhood hit with Wells Notice. **The stock and crypto-trading app is likely the next crypto exchange [facing the ire of the SEC](https://x.com/web3isgreat/status/1787527525498785989) and its anti-crypto agenda after receiving the notice of potential future enforcement action.
- 🤔** Coinbase hit with lawsuit.** Brian Armstrong and Coinbase are facing a [class action suit](https://x.com/benzingacrypto/status/1787529005639299570) from investors who say that they suffered losses as the result of being sold illegal securities in the form of SOL, MATIC, and other tokens.
- 🌊** Justin Sun apes into Swell.** With a 120k ETH deposit into the Swell L2, the billionaire Tron founder’s now massive 40%+ position is [raising eyebrows](https://x.com/SlavaLapidus/status/1787501295202353193) ahead of the project’s planned airdrop.

.  .  .

 
  
    
      
      TODAY IN MARKETS
    
    
  
  
    
  Grayscale Turns it Around
  
  

  

 
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-06T171144.919.png)](https://www.bankless.com/grayscale-turns-it-around)**📊 GBTC Goes Big.** The Grayscale Bitcoin Trust (GBTC) experienced its first net inflow since converting to a spot ETF! *Did we just enter a more bullish paradigm, or is there an alternative explanation for this unexpected inflow?*

[Read More Analysis on Bankless.com](https://www.bankless.com/grayscale-turns-it-around)

Prices as of 6pm ET
24hr
7d

 

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

  **Crypto**
   
          $2.35T
       

  
    
    ↘ 0.3%
    
  

   
    
    ↗ 0.4%
    
  

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

  **BTC**
   
          $63,465
       

  
    
    ↘ 0.5%
    
  

   
    
    ↗ 0.5%
    
  

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

  **ETH**
   
          $3,082
       

  
    
    ↘ 1.5%
    
  

   
    
    ↘ 3.1%
    
  

  

.  .  .

 
  
    

    OPINION

  
  
    
   
Why This Cycle Is Cooked
  
  
   
     
     Bankless Author: 
     
      [
       
       David Hoffman](https://www.bankless.com/author/david-hoffman)
     
    
 

[![](https://storage.ghost.io/c/e4/b7/e4b77544-5a37-4f0b-8824-8440aa348476/content/images/2024/05/image---2024-05-06T171136.506.png)](https://www.bankless.com/cycle-could-be-cooked)**Is this cycle already over?** A confluence of factors has led to structural problems *with the vibes in crypto*: an overabundance of VC capital, a lack of new entrants, and an overbearing regulator.

Why are the factors causing these problems, and who are the ones losing out because of them?

*Read the article!*👇

[Read the Full Rundown](https://www.bankless.com/cycle-could-be-cooked)
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