gm Bankless Nation, it's been a politically contentious election for Crypto, and builders are looking for some reassurance from Harris and the Democrats that they aren't all out to get us.
gm Bankless Nation, It's been a politically contentious election for Crypto, and builders are looking for some reassurance from Harris and the Democrats that they aren't all out to get us.
Today's Issue ⬇️
☀️ Need to Know: Visa's ETH Bet Visa bets on banks embracing tokens.
📊 Market Vibes: Blood in Water? Alt L1s are gaining / SEI rating.
🧪 Analysis: Lido's Big Break? Could L2 frustration pump LDO returns?
📸 Daily Market Snapshot: Despite some relief for Ethereum prices in recent weeks, investors are continuing to bid up competitive alt-L1s during an extended period of weak ETH narrative strength. SEI is up 54% week-over-week, while other big gainers include SUI, APTOS, and NEAR – all up roughly 30% on the week.
Prices as of 6pm ET
24hr
7d
Crypto $2.23T
↘ 1.1%
↗ 7.2%
BTC $63,392
↘ 1.7%
↗ 5.1%
ETH $2,574
↘ 3.6%
↗ 10.2%
SEI $0.455
↗ 7.1%
↗ 53.7%
🌊
New Token Rating: SEI is the top-performing top-100 cryptocurrency by market cap today. Why is continued outperformance our base case for this token?
Ethereum's smart contract dominance has been challenged like never before this cycle. The increased concern that Ethereum is losing users to alt L1s like Solana has led some in the community to advocate for a shift in prioritizing technical improvements to the L1 execution layer over increased rollup data availability bandwidth.
This shift would have major ramifications for the network. It would also have interesting impacts on the revenues of various ETH infrastructure protocols. Today, we're digging into how an ETH priority shift could lead to big wins for liquid staking platform Lido and holders of LDO.
Say hello to the Uniswap Extension, the first wallet to live in your browser’s sidebar. Swap, sign, send, and receive crypto anywhere on the web without dealing with pop-ups. Designed for a multi-chain world, with support for 11+ networks.
In our latest episode, we had the privilege of speaking with Representative Ro Khanna, a Congressman from California and a prominent voice advocating for the crypto industry within the Democratic Party.
As the political landscape around crypto regulation continues to evolve, Rep. Khanna has emerged as a key figure brokering meetings between the White House, the Harris campaign, and major crypto players in an effort to carve out a path for crypto in the Democratic Party’s platform.
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.
