ROLLUP: Elon Buys Twitter | Free Speech | Optimism Airdrop | Moonbirds NFTs | OpenSea Gem

So that's pretty cool. So I guess flat on the week. My numbers are already our puts.

I wrote

These numbers in 30 minutes ago,

due

dude. Look, w by the time people hear this, it'll be inaccurate anyway. Guys, these numbers are all always inaccurate, no matter what.

twelve twelve hour lags.

Bankless Nation, it is the fourth week of April. It's Friday morning. So what time is it, David?

Oh see Friday, Bankless Weekly Roll Up Time, Ryan, where we roll up the entire news in crypto that happened in the last week, which is always an ambitious endeavor, yet we persist. Nonetheless, ready to get into it, Ryan? What happened this week?

I'm ready, man. It's good look. First of all though, it's good to see you uh back in your place. We've been doing a lot of uh these road tour roll-ups, and look, you've been doing from a hotel rooms, Airbnbs, like everywhere, and now you're back. You're back in San Diego, at least for now.

Yeah, but we have two more roll ups here before this place goes away forever.

Wow.

And uh brand new uh apartment in Williamsburg will be the background.

It's great. David's background is constantly changing. Mine is always staying the same. The immutability of my background, David. Not going anywhere, apparently.

Do rendering for your background for whenever whenever I move.

Alright, man. So uh topics of the week. First, we gotta discuss Elon Musk. He just bought Twitter. Wow. Okay, in an effort maybe to preserve free speech. I don't know. That's what he's saying. But also the same day, something else happened. What happened?

Stani Kuichov of Ave and also Lenz Protocol gets banned from Twitter because it's it's so ironic. Because Elon Musk buys Twitter to preserve free speech. And the same day Stani gets banned from Twitter for tweeting out a joke about how he is the interim CEO to Twitter. I mean you can see why Twitter would ban him. It's like that's well, that's f false news. So like banhammer. But the the irony of that uh happening the same day uh is interesting. And so we actually interviewed Stani, and we'll get some cuts of that interview here in the weekly roll up when we talk about Elon Musk buying Twitter.

Also, there was an optimism airdrop this week. This is the starting pistol for layer 222. We're gonna discuss the details, the metrics, the governance system. We got it all. Uh and finally, what's the last one here, David?

Edward Snowden has been a secret founder of a crypto project that we had no idea about until now. So we are gonna get all of those details. What has he been up to? What project is it? Uh that is coming later in the show.

Guys, before we do that, I gotta tell you about Graph Day because it is conference season. That's why David's backgrounds are always shifting because he's going to all these different conferences. Um after permissionless, the next one you need to go to, particularly if you are a builder, is Graph Day. Graph Day is happening June 2nd. It's gonna be a learning session on June 2nd. A ton of fantastic speakers, followed by a three day hackathon. Okay, speakers like who, David? Name some of these out for us.

Oh, so many. We got Kevin O'Walkie and from Gitcoin. We got Arjun Bhuptani from Connect. Camila Russo from The Defiant, she's gonna be there. Also, one of my one of my personal heroes in the space, Reese Lindmark, is gonna be there as well. We got Ava Balin from the Graph Foundation and so many others. Jake Berman who Jake Berkman who pilled us on NFTs in the first place. They're all gonna be there. So if you are looking to bootstrap your web3 career, if you just want to hear from the builders, or if you're looking to hack and be a part of the hackathon, the graph day event in San Francisco, June 2nd to 4th, is for you. There is a link in the show notes to get $50 off if you are so inclined.

You should be so inclined, especially if you're a builder. This is the the place to go. But David, let's get into the markets first.

You know what is more than $50 off, Ryan?

Yeah. What's fi what's more than fifty dollars off? You're gonna tell me it's Bitcoin.

It's Bitcoin. It's Bitcoin. Bitcoin started the week at $41,300. It's down 3.9%. Oh gosh, it it jumped actually since I wrote these numbers. Uh so my numbers are out of date. Uh started the week at $41,300. I thought it went down 3.9%, but it looks like it only went down uh $50 because apparently it's mooning as we speak. So that's pretty cool. So I guess flat on the week. My numbers are already I put the

See

numbers in 30 minutes ago, dude.

by the time people hear this, it'll be inaccurate anyway. Guys, these numbers are all always inaccurate, no matter what.

Twelve hour lags.

Yeah, at least. Uh anyway, so we're what are we kind of steady on the week? Yeah, I

Flat on the week. Flat on the week. Wow. Alright, well let's go to Ether and see see how good or bad these numbers are.

bet it's it's gotta be down too since you wrote this, right?

Yes, yes, right. Okay. So we s started last week at $3,080. We are currently at $2,960. So we're down just a couple percent on the week. Uh not too bad. Not too bad.

Yeah, kind of a flat week. And the ETH Bitcoin ratio, we were down at the time of recording as well. What does that look like?

Yeah, we were down 1.5%. It's probably gonna be uh about there still, none nonetheless.

How about all of crypto? Total crypto market cap. Uh we are at, let's see, 1.9 trillion. Uh below 2 trillion.

Mm hmm. Mm-hmm.

Sad. That's a shame. We're what's

Ended last week at 1.98 trillion. We are at 1.93 trillion right now.

Oh last fi lost fifty billion dollars in the crypto market cap. So but what's a what's a few billion dollars, you know?

here's the thing. We're we're kind of crabbing out, and we have been for the last few months. Crab season back and forth, not necessarily up or down, just kind of back and forth. But we should also count our blessings because US dollars is heading towards all time highs. The Dixie, this is where you measure US dollars. Hasn't looked like this in a long time. We mentioned this last week, and it's been up only since last week. And what's the big story here? It's not that US dollars are up, but US dollars are up, and yet what?

And yet crypto prices are flat. So like relatively it's a it's a win, I think, because it usually when the Dixie goes up, crypto prices go down. Uh and so when the Dixie goes up a lot, as if it has, as it has, because it's actually higher. The Dixie is higher than it was during the depths of COVID, where people were fleeing to dollars uh in the in when during that March liquidation event, uh people are fleeing to dollars. And we are well above that point in the Dixie right now. And yet, over the last, I don't know, like month or so, crypto prices are flat. Historically, when the Dixie goes down, crypto prices go up bigly. Uh, and so right now we're watching the Dixie go up and crypto markets stay flat. If the Dixie goes down, will crypto markets still go up? Is a big question.

Yeah, the the Dixie is kind of a short-term fear index, right? And so you're talking about that spike in March 2020 when COVID happened, and the spike all the way up in the dollar, and yet, and what happened to crypto? It went the complete opposite direction, absolutely tanked. And now markets are fearful again, and yet crypto is not getting to hit to impact it. And of course, in markets, all of this comes on the back of huge gains that crypto investors made in 2021 last year. So while this year feels a little bit like crab season, last year was like boom town. Crypto investors made 163 billion dollars in gains in 2021. That is according to a chain analysis report, and they've looked directly at the data to drive that number. Uh incredible. 162 billion dollars. What do you think?

Yeah, I mean it's no wonder that like all of a sudden sports stadiums now have like companies names including ours as their as their uh as their new naming rights, right? I just love that this is Chain Alice's report. Chain Alice, just like the the s I have Sauron of the government probably sending this information straight to the IRS.

Oh, definitely. Absolutely. They're avert chain chain analysis, uh chain analysis is advertising their services to every tax jurisdiction in the world.

Yes.

It's like, hey, you want some money because all governments want money right now. Uh look at this $163 billion sitting for you.

We know where the capital gains are, says the ki cha says Chain Alexis.

This is also why you should pay your taxes, incidentally, uh as well. I mean, there are crypto people who are like,

how are they gonna know? I'm like, chain analysis

chain analysis doesn't know.

Come on.

Uh ENS bull market. Yeah. Right? There has been a bull market in.ETHS, the ENS domain name. Haven't heard a lot about ENS, at least, you know, kind of in the narrative section, since their big airdrop, and ENS price governance token responsibility token price has been down since. But I've always seen this, and I think you have too, as like

maybe the best NFT out there, one of the OG NFTs. And what's happening now is ENS registrations are going like crazy, particularly in is it four digit ENS names?

Yeah, yeah, low digit ENS names. Like three digits are also hot, but there's just so few of those. So four digits are the ones. I think there's like something like 16,000 combinations of four digit ENS names. So you know, not that many. We're if we're talking about like the URL of the future internet. Uh, and so four this uh ENS broker, which looks like a bot Twitter account, says 70 to 100 four digit ENS registrations in under an hour. Only 6,622 remain. So not all of them are minted. So that's what's going on. There's like a gold rush to mint the remaining four four digit combination ENS names.

Look, here's one that went uh five five five dot ETH went for fifty five point five ETH. It's just it was sold for fifty five point five ETH. I think some of this is coming from uh NFT world, right? So people are like basically buying the you know, their board ape number or their or their crypto punk number. That's some of the speculation. You see that?

Snap is

available.

Yeah, it's like yeah, see now you now you're getting the photos. It's the 10 key K NFT market, right? And so people are you know how there are uh crypto punks who go buy like I'm 6410 or whatever, and so why not have six four one zero.eth if that's your

1118 is already minted.

is that your crypto punk?