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Will This Cycle Skip ETH?
Published on May 10, 2024
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Sponsor: Mantle — Mass adoption of decentralized & token-governed technologies.

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NEED TO KNOW
BTC Stablecoins?
  1. ⚡️ Lightning pursuing BTC stablecoins. This month, Lightning Labs successfully tested a protocol designed to enable stablecoin issuance on Bitcoin, Decrypt reports.
  2. 🗳️ CFTC moving against prediction markets. Prediction platforms like Polymarket are in the CFTC’s crosshairs after it approved a proposal to ban platforms from building markets around the outcomes of political activity.
  3. 🔵 Base is booming. Memecoins and SocialFi are growing the opportunity on Coinbase’s L2 chain, Franklin Templeton says, leading to a surge in the supply of USDC on the network to $2.5 billion.
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TODAY IN MARKETS
EIGEN Claim Kicks Off

📊 Free Money? Claims on EIGEN, the most anticipated airdrop of 2024, opened earlier today for the majority of eligible first-round recipients! What peculiarities come with this drop, and what can you actually do with your EIGEN?

Prices as of 4pm ET 24hr 7d
Crypto $2.25T ↘ 2.5% ↘ 2.2%
BTC $60,648 ↘ 2.7% ↘ 2.0%
ETH $2,900 ↘ 4.0% ↘ 5.7%
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OPINION
Will This Cycle Skip Ethereum?
Bankless Author: Ryan Sean Adams

“This bull cycle will skip Ethereum.”

I’ve heard this take among investors since September of 2023 at least. By skip they mean muted ETH performance, as in ETH underperforming BTC or barely beating Bitcoin. 

Now, you can approach this question as an Ethereum hater, the type who thinks “Ethereum is dead” and has been succeeded by “newer technology.” I think that’s a boring 1-D take and obviously wrong. Full disclosure: I remain a full-on ETH bull.

Here are the perspectives you should be thinking about
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Autonomous Worlds

Let's explore the frontier of onchain universes on Ethereum.

Autonomous Worlds is a new frontier of digital onchain universes being pioneered by the Lattice team. CEO Justin Glibert walks us through the space's evolution. Get ready, because you're going to get a taste of where the Internet has always been pointing towards… it's just taken us a while to get here.

Bankless Citizens get exclusive access to this episode 👇

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This Week's Yield Opps

Each week, Citizens get a curated list of yield opportunities that the Bankless team is watching. As a free subscriber, you're missing out! 👇

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GO BANKLESS
Don't Miss Another Airdrop!

Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop. Did you miss out again?

Ether.fi was in the Bankless Airdrop Hunter, and you could have gotten into the latest drop by following our quests! There are nearly 100 other crypto protocols in Airdrop Hunter waiting for you.

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