👨⚖️ Grayscale outflows overwhelm. Nearly $2B inGBTC outflows powered a rough week of net ETF outflows, but analysts say the worst is over.
🟠 BTC 'overwhelmingly' top priority. BlackRock's crypto chief said on CNBC that clients had very little interest in assets beyond BTC and ETH.
🪳 Gary wants to disinfect crypto. In a speech aiming to justify his failing war against crypto, SEC Chair Gensler said “crypto markets could use a little disinfectant.”
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TODAY IN MARKETS
Fantom's Revenge
📊 Fantom outpaces market. There’s always a bull market somewhere in crypto and this month, Fantom network (FTM) has stood apart from other smart contact platforms thanks to a significant price increase! What development is driving outsized FTM gains?
Earlier this week, we unpacked the latest plans for Maker's ambitious Endgame roadmap. Right now, Spark, a DAI lending protocol, is particularly interesting because:
Its total value locked tripled to +$3B over the past six months, indicating real traction and momentum.
It’s a core pillar of the Maker Endgame plan, which, in my opinion, is the most ambitious DeFi evolution in the works today.
Mass adoption of token-governed technologies. With Mantle Network – an Ethereum rollup, Mantle Treasury, and a token holder governed roadmap for products and initiatives.
In my opinion, it’s through Farcaster Frames. In combination with apps like Warpcast and Zora, a Frame lets you drop an NFT that people can collect for free, with no wallet transactions, in just one click. Making it so easy to collect makes it so easy to reach more collectors.
If you’re interested in taking this flow for a spin yourself, I’ve prepped a walkthrough to show you how to get started 👇 👇
Thousands of Bankless Citizens scored an average of $3,500 worth of tokens after Ether.fi's airdrop this week. 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 80 other crypto protocols in Airdrop Hunter waiting for you.
Not financial or tax advice. Bankless content is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time we may add links in this newsletter to products we use. We may receive a commission if you make a purchase through one of these links. Additionally, the Bankless team holds crypto assets.
