gm Bankless Nation, Layer 2s have been under fire in the Ethereum community, but not all critiques are equal. StarkWare's CEO shares his take in his new Bankless Op-Ed.
gm Bankless Nation, Layer 2s have been under fire in the Ethereum community, but not all critiques are equal. StarkWare's CEO shares his take in his new Bankless Op-Ed.
Today's Issue ⬇️
☀️ Need to Know: Bet on Elections Election betting contracts are legal.
📊 Market Vibes: Topsy Turvy Big gains and big losses in crypto / W rating.
📸 Daily Market Snapshot: Another middling day for crypto prices took ETH prices down 8% on the week. Not everything is flailing, though, as memecoins pump. and FTX's FTT token is up a whopping 46% as degen traders bet on a moonshot reorganization plan-led resurgence.
Prices as of 6pm ET
24hr
7d
Crypto $2.11T
↘ 1.1%
↘ 5.4%
BTC $60,876
↘ 0.4%
↘ 4.2%
ETH $2,381
↘ 3.6%
↘ 7.8%
W $0.339
↗ 8.1%
↗ 31.7%
🪱
New Token Rating: Wormhole’s W token has been down-only since it launched in early April into peak market froth. Can HODLers finally rest easy on their “Ws” after a solid month of gains?
Blockchain tribalism often makes us deaf to our critics. We ignore them at our peril.
Despite making me squirm at points, I listened carefully to Ethereum researcher Max Resnick’s much-discussed Bankless interview in which he lambasted Ethereum Layer 2s (L2s) as “parasitic.” Resnick's argument is that L2s are becoming a cozy cottage industry that sucks value away from Ethereum, the Layer 1 blockchain.
Kraken is one of the largest and most secure crypto platforms trusted by over 13 million people from around the world. Whatever trading strategies you’ve got in your playbook, Kraken gets you started with as little as $10.
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.
