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gm Bankless Nation,
This market is a struggle, but 
Ethereum was built on resilience. In today's essay, David Hoffman talks about the bright future for Ethereum, thanks to two under-discussed catalysts.
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Sponsor: MegaETH — Crypto has new apps, finally.
Look – I don’t like the prices right now either.
Sub-$2,000 ETH in 2026 is not what I thought would happen.
Instead, what’s happening is a macro environment that Ethereum has explicitly built defenses against.
Two things are defining this moment:
- Bear Market Apathy
- The Quantum Threat
Bear Market Irrelevance
When the tide washes out, things die.
Gone are the days of easy money, persistent interest in new L1s, and the speculative fervor needed to bootstrap otherwise unnecessary projects. We are no longer in one of those eras, and the industry’s malaise reflects a growing fear that they may be gone for good.
Things may never be easy again.
But Ethereum was never...
We're past "in it for the tech" or "in it for the money." 
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📈 The Asset
🏛️ The Protocol
- Ethereum Foundation announced the launch of a dedicated post-quantum Ethereum website, published a primer on the L1 + L2 relationship, and hosted Institutional Ethereum forum in NYC
- EIP-8141 moved to “Considered for Inclusion” status for Hegota
- EF Protocol Support published an EIP champions handbook
- All Core Devs held its #233 execution call and its #75 testing call
📱 The Apps
- Aave now powers yield for Whop
- Balancer published two restructuring proposals
- Better is offering crypto-backed mortgage down payments via USDC/BTC on Coinbase
- Katana acquired IDEX and launched Katana Perps
- Ondo is tokenizing five Franklin Templeton ETFs
- Origin migrating OETH to compounding validators
- Sablier introduced Bobs, i.e. price-gated ETH timelocks that earn yield via Lido
- WalletChan unveiled its WalletChain OS with auto-connecting for wallets
- Resolv Labs had 80M unbacked USR minted through a compromised private key
- Safe hit 60m accounts
- Sudoswap introduced a governance proposal to establish a “ragequit” mechanism for its native SUDO token
- Vyro launched its CDP protocol on Unichain
🤫 The Privacy Stack
🐸 The Culture
- Ethereum.org rolled out a series of revamps, including an expanded gaming page, ETHSkills, and more translations
- owocki outlined Ethereum community civil wars since mainnet launch
- TheDAO Security Fund issued its first ETHSecurity badges, 160 remain
💽 The Tech
- Bitpanda is planning to launch Vision Chain (OP Enterprise L2) later this year
- Solingo launched Solingo (web tool), to learn Solidity via gamified exercises
- Cyfin launched BattleChain
- Polygon introduced PIP-85 to rebalance priority fee rewards
- Public Goods Network (PGN) shutting down, withdraw before April 20
We examine the proposed Clarity Act and its impact on stablecoin yields and crypto finance. Ryan and David discuss geopolitical tensions in Iran and their effects on global markets.
Highlights include Tom Lee's ETH staking venture, the NYSE's stock tokenization, and emerging quantum computing developments. We also touch on Coinbase’s stock dip, Tether’s auditing, and Fannie Mae's acceptance of crypto as collateral.
Tune into this week’s Rollup! 👇
