ROLLUP: Optimism, Layer 2 Summer, Axie Infinity, ETH Documentary, Space Jam NFT (2nd Week of July)
Topics covered
Popular Clips
Episode Highlights
Market Trends
and analyze the current state of ETH and BTC, noting a "crab season" where prices remain stable without significant upward or downward movement. ETH started the week at $2,100 but fell below $2,000, creating a sense of uncertainty among investors 1. Meanwhile, BTC fluctuated between $32,000 and $34,000, with its Lightning Network showing promising growth despite the stagnant price 2. describes the situation as a "crab with bear arms," indicating a cautious market sentiment 3.
Valuation Insights
The discussion shifts to innovative valuation metrics within the DeFi space, highlighting the fully diluted valuation divided by monthly volume for decentralized exchanges (DEXes). explains how this metric helps assess whether projects like Uniswap and Zero X are over or undervalued based on their volume-to-market cap ratios 4. The conversation also touches on the $9 billion valuation of a new crypto exchange, Bullish, which lacks users and branding, raising skepticism about its market position 5. notes, "There's something going on behind the scenes on this story that is not making it to the forefront."
Inflation Impact
Inflation is a pressing concern, with the Consumer Price Index (CPI) reaching 5.4%, a figure much higher than anticipated. emphasizes the broader implications of this inflationary trend, noting its impact on both crypto and traditional markets 6. humorously points out that bitcoiners have long predicted such economic shifts, often understanding fiat monetary policy better than economists 7. He remarks, "Bitcoiners know the economy better, like the inflation schedule better than economists."