ROLLUP: Solana Outage | Restaking Wars | Dencun Mainnet Date

Solana went down this week, David. I don't know if you noticed. I know you're on the Solana chain a lot. It was down for five hours, and that is the first time it's been down in almost a year.

Banglastation is the second week of February. David, what time is it?

It's the Bankless Friday weekly roll-up where we cover all the weekly news in crypto, which is always an ambitious endeavor. Yet we persevere nonetheless into the bullish frontier. How you doing, Ryan?

Uh good. I'm glad you said bullish Frontier. Are are you having are you having fun, man? Is this

I'm I'm having fun. There's a lot of interesting things going on. It's a lot of exciting things going on. There's a lot of lot to look forward to, a lot that's happening now, a lot that will happen in the future. Overall, uh yeah, I'm definitely it's that feels it's a good time in the market.

I feel like it's a good time in the market too. Like it's just uh hasn't gotten crazy yet. I don't know. The we the you know, the we we like we've seen some new things. Um Farcaster episode. Well, let's unpack it. What are we covering today?

Uh, we're covering first Solana's five-hour network outage. Oof, we'll talk about that. Uh, there was a little bit of an autopsy, not the official one, but someone put a tweet thread together, so we'll go through that and talk about the significance. Uh, second, the other very exciting thing that happened this week, the Eigenlayer LST tokens caps were lifted. How much TVL flooded into Eigenlayer?

Just piling in. It's absolutely piling in. We also got the Farcaster users hitting all-time highs, so we'll talk a bit more about that. And David, we have the date for the next Ethereum upgrade. I think is this the official date?

The

From the devs. The devs

devs, the d the date that the devs said

I think

give dates.

until they do.

Okay.

Well, fair enough. Uh well before we get in, we get a message from our friends and sponsors. Well, David, let's uh pay some attention to the market price, shall we? And uh honestly, David, at this time in the market, I don't know if I'm more Zen than usual or what, but this is like right before this episode was the first time I actually looked at charts since last week, since the last roll up. And I was pleasantly surprised to see this one. This is Bitcoin. Thanks to Kraken Pro for these excellent charts, and thanks to the Bitcoin gods for the charts showing upward trajectory. What are we at on the week?

I I'm guessing, Ryan, you don't have the page on your phone that like if you scroll over it, like shows all the prices.

Not healthy. It's

You don't have to price on your main home screen on your on your phone. You don't need to have that.

I don't see that.

So is that like a little bit of a little bit of a little bit of what the prices are until we do the weekly roll up?

Yeah, I mean, really, unless something crazy happens and then I find about it some other way and like somebody says.

Something.

This doesn't this is a nice price on the week, but this is not crazy activity in Bitcoin. So I just

I think people are excited about the price action right now. A because we're coming back out of the 30,000 range where it was like the bearish range. Like people were thinking we're getting getting it down to 36,000. And we're not. We're not doing that. We started the week at $42,500 on the Bitcoin, up to $45,200, up 6% on the week. Marching our way back to the Bitcoin ETF approval highs of $49,000. And I think, Ryan, once we like hit $49,000 and break $50,000, like I'm sorry, like all time highs are next. That's just that's

all time highs of this cycle, right? This full cycle if we're above 49k.

49 is the new high water mark. Yeah, but we set that we set that like two or three weeks ago.

All right, so 50k would be like kind of net nude territory for this cycle. And what is wait, what is all time high for Bitcoin now?

Six sixty-nine.

69? How do you

How could you forget?

Yeah.

What's silly me? All right, 69. Uh next you're gonna tell me uh Ethereum all time high was 4200. Uh no, no, it was 4200.

No.

Sorry, sorry. That's high that's higher. That's actually higher than I remembered. Okay, well tell me about ETH on the week. Where are we at?

Two thousand two hundred and ninety dollars is where it started. We were up two percent. Six percent, excuse me, six percent to two thousand four hundred and thirty dollars. Uh so some some up weeks. So up weeks this week.

Bitcoin and Ether up six percent on the week. We'll take that one. Not double digits, but we'll take it. And the ratio is that about steady?

Well it's steady, but it's low.

But it's steady.

Lower than you want.

Lower than a lot.

It's a long time

Plenty of room for upside. I'll free frame it like that.

Lots of room in the ratio for upside. Uh and tell me about the total crypto market cap.

We just broke this morning $1.8 trillion.

Is that all time?

Uh yeah, we have not well not all time highs uh for the total crypto market cap. I think we got a little bit above that. No, but I mean it's

Cycle. Cycle all time highs, right?

Oh, that's what I mean. I mean, I think we we hit one point eight six right at the Bitcoin ETF approval and it's been down since then. Uh so we are sixty sixty billion dollars off of cycle total crypto market cap all time highs. Wow. Uh I want two. Two trillion. Two trillion.

And the

What happens

ends out too, you just feel better.

you get to three.

It's never enough for you, is it?

No.

Uh let's say let's talk about something that's never enough, which is uh total locked value in layer twos and transactions on layer twos. It can never be enough for me, David. Uh this layer two update is brought to you by Mantle, which is a new and upcoming layer two that we especially enjoy. By the way, I think METH is at all time highs. Speaking of all-time highs, which is Mantle staked

Yeah. TVL on mantle all-time highs. Also, M ETH also now in Eigenlayer. So there's a bunch of uh mantle ether in Eigenlayer. And what they're gonna do, there's they're juicing the mantle ETH yields, which like natively. So like the mantle ETH yield is like seven percent, and all of the mantle m ETH treasury that's now in Eigenlayer, they're just gonna send the points over to the M ETH holders on the mantle layer too. That's cool.

you get some yield on your yield, huh?

Yeah.

That's what I like.