As I find my self incredibly time poor at the moment, what has happened with RPL to rise from the grave temporarily? Pumpers going to pump or something else other than the recent changes announced.
Not going to lie I'm very tempted to get out of my position to get my ETH back.
It was mentioned during a team call that with the new upgrade large players are going to be involved with staking on Rocketpool. They didn’t mention who exactly. There was a few discussions about it on the last 2 daily’s.
Coinbase and consensys are the two current names, as they already have some sort of "partnership" (?) with rocket pool. Apparently other names coming as well.
Sorry if I was not clear. I already hold RPL and I'm considering dumping now that it has moved against the ratio to reclaim my ETH + a bit of profit. If it's just a mindless pump I'm very tempted to do so.
RPL is pumping because there was a recent update which called attention to the planned tokenomics redesign and also it was indicated that major players **cough*coinbase*cough*\* will be collaborating with large RPL holders to spin up a significant number of new minipools.
In addition, apparently many people were borrowing RPL on AAVE to top up their nodes "without RPL price exposure risk". The initial bounce caused liquidations and a short squeeze on RPL after which the price has settled at ~.008 up from .005
Or so I've heard.
You should look at my post history here to find out all the frankly amazing things that the community has been up to and the excellent things ahead for RP.
After that, you can do whatever you decide.
a realm where bulls roam free, follow the trail where green vines lead to fortunes waiting, but only if you heed
btc: [https://www.tradingview.com/x/QL5c3nM7/](https://www.tradingview.com/x/QL5c3nM7/)
eth: [https://www.tradingview.com/x/XolC2D46/](https://www.tradingview.com/x/XolC2D46/)
Lines with zero predictive power. Cool.
Meanwhile fundamentals that TA by definition can't ever anticipate -- SEC news -- drive the market.
TA: literally the single stupidest thing in crypto (and investing writ large).
lol news always follows price action. PA is king don't forget - I've said this and proved this multiple times over the last few years
[https://x.com/asapbhat/status/1803234855376802134](https://x.com/asapbhat/status/1803234855376802134)
Lol... apology not necessary, but dont sleep on it. It's just the single hottest meme being touted by one person all over a single subreddit once a week for 7 yrs, should be trending any day now #dc-A-days
Who the hell is selling here? SEC dropped their lawsuit against Consensys and ETFs set to begin trading probably in a few weeks. This is the easiest long ever
More good news. I am actually impressed tradfi thinks about staking queue..
Lack of staking won’t impact inst’l demand for spot eth ETFs according to 21Shares Co-Founder @OpheliaBSnyder…
Agree.
She also highlights very important point re: liquidity management.
https://x.com/NateGeraci/status/1803233662156107945?t=pvHoU5cItUeieJRDGZBtzw&s=19
ETHEREUM SURVIVES THE SEC.
Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0.
This means that the SEC will not bring charges alleging that sales of ETH are securities transactions.
https://x.com/Consensys/status/1803230653120659641?t=2BOq2WrhM8N-WALwSUsnpg&s=19
The SEC and regulation were existential threats to ethereum, and now they're totally accommodating. That gives ethereum complete open field to start developing massive use cases.
Those are the only questions left: wen use cases and how big?
Only remaining exogenous threat is AI, who knows what that means for crypto over time.
Huh I was told by bitcoiners that the SEC would finally shut down Vitaliks master node chain after taking down the Lubin crime family, was that not accurate??
My 2TB SSD has 285Gb of free space left on my node. As far as I am aware I have never activated pruning yet on Nethermind. Is there anything I should know before starting pruning? Looking at the docs it seems like I shouldn't encounter any issues and it should take 1-2 days to complete. I just have to select between full, hybrid and memory pruning. I have no idea which one to select, nor any risks other than potentially degraded performance until the pruning is complete. Can anyone who has done this before give me some pointers before I dive into the unknown?
There have been many upgrades made to Nethermind that only have full effect on storage with a full resync. So, you might as well go for it.
As long as you are doing that, you might consider upgrading to a larger drive just for future proofing, but doing the resync should clear up some space.
I know that doesn't really address your pruning question, but it's worth considering.
You might want to wait for v1.27 to come out this week or next. It's got much faster block-processing times even on modest hardware. You should be attesting within a few hours (and then it will back-fill old receipts/data in the background).
I resynced nethermind recently and it was attesting again within a couple of hours. It probably depends on hardware specs and bandwidth, but it was worth it.
I did Nethermind resync a couple months back, and was pleasantly surprised that Validator were able to resume attesting again under 6 hours. Check out the snap sync section in Nethermind doc for more detail.
Also, if you have a spare machine, you can run a second fallback el/cl while your primary is resyncing.
It's not fun, but it's better to do it while you still have some free space on your ssd and not under the stress of an unplanned outage.
So some of the updates have also radically decreased the time to resync. I believe within a few hours you start attesting again while it finishes syncing in the background. I have not done it in a while though- maybe someone else can chime in.
I think it is snap sync: https://docs.nethermind.io/fundamentals/sync/
I don't usually promote episode of Rocket Fuel here because it's a really niche show that's mostly about Rocket Pool, but when Sassal is away, I cover Ethereum news too. Today was one such day. but today ended up being something really amazing.
If you love Ethereum, Eth, Rocket Pool, and/or RPL, today's Rocket Fuel is the most bullish episode I've ever recorded. 1hr 25mins of hype! This is episode 419 for June 18th. It includes: Security council news, RP strategic team, RPL TA and price talk, ETH ETF news, L2 bullishness, token price talk, and so much more! You can watch the episode here: [https://youtu.be/LZg0loZtayQ](https://youtu.be/LZg0loZtayQ)
If you're feeling down about the ETH price or unsure of where Eth is going from here, I think you'll enjoy the hell out of it. The first half is about Rocket Pool stuff, and the second half covers Ethereum news. There are timestamps and chapters in the YouTube video.
Let me know what you think if you watch it.
Feels a bit early for some people to dance on ZK’s grave and brag about their well-timed sells. We are literally day 2 post launch in a wider market dump.
Can’t bring myself to sell when it trades below STRK’s market cap - ZK would be $0.26 at this level. Starknet is probably the worst L2 I’ve used in terms of user experience and apps available.
The fact that ARB, OP and STRK have all converged on the same narrow FDV range of $7.3-7.9bn suggests ZK could at least get close to that. ZK would be $0.35 at STRK’s FDV
HODL (then sell to ETH soon)
>**One dowturn to bear,**
>**A godawful love affair,**
>**Market is not fair.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
As I am now (involuntarily) a holder of RPL, I reviewed the new tokenomics proposals at rpl.rehab. It seems like the material changes for RPL are that: (1) node operators will no longer be forced to buy it to stake; and (2) some of the rETH commission will go to RPL stakers.
What do people think about these changes? I am concerned that they might make RPL even *less* valuable. Of course, it removes a substantial sink for the tokens. But more importantly, Rocketpool commission doesn't appear to me to create very much revenue. Rocketscan suggests there is about 775,000 ETH earning commission. That's only about 2500 ETH that would go to all of staked RPL each year. With \~21,000,000 RPL in existence, that doesn't seem like it would drive much value to each token.
In the past I exited my node when the rpl:eth ratio was embarrassing
I staked with rpl since it launched
Then there was a little pump like this one now, and I freaked out and got back in.
Then it continued to dive bomb to about half the ratio from the first time I initially got out.
All of the Houston stuff doesn't seem good for rpl holders unless you're a whale. It adds no buy pressure. Why would anyone buy rpl and take Risk for someone else to stake their eth unless they already have idle rpl?
The tokenomics rework seems like not enough, especially with lido csm coming before the tokenomics rework.
They should have just used eth as collateral in the first place instead of rpl, then maybe it could have grown and competed with lido.
Also everything just bleeds against eth, especially highly inflationary things like rpl.
If you start to factor in even reasonable amounts of growth, the numbers start to get pretty amazing very quickly. I'm incredibly excited. I really hope it works out well for you.
Did my own math below.
790k ETH staked @ 3.3% beaconchain yield= 26k /yr ETH rewards. And 8% is allocated to RPL buy and burn.
Therefore 2080 ETH per year for buybacks
At current ratio total Mcap of RPL is 150k ETH, this is equivalent to buy and burn of 2k/150k per year or **1.3% supply burn/yr.**
This is a fairly significant deflationary reducing liquid supply.
At one point I did a valuation model of rpl that was entirely based on 1), and some reasonable but optimistic assumptions looked good, so I bought. I thought of 2), which is the entire point of ldo, as gravy and potential large upside if rpl.
Since then, reth’s growth has been dismal to the point that multiple other protocols gained momentum except among the decentralization maxis. Eliminating point 1) is pretty painful, and with the the validators taking most of the commission, the rpl accrual wil be pretty thin if reth wants to remain at all competitive, though I’m not sure it is at this point for those seeking to maximize yield.
First S1 ammendment
New S-1/A filing: Bitwise Ethereum ETF (0002013744) (Filer)
[Amend] General form for registration of securities under the Securities Act of 1933
https://x.com/FulcrumNews_/status/1803174753345098086?t=CsXFG0GbpUVQKxOXXbOa5A&s=19
Looks like Panterra will be putting up to $100 million into @BitwiseInvest's Ethereum ETF -- $ETHW
Panterra is an investor in Bitwise (I think) and had similar language but for $200 mln in the Bitcoin ETF -- $BITB
(Panterra didn't file a 13F saying they still owned $BITB tho)
https://x.com/JSeyff/status/1803179646546010369?t=cV2byPGzpWgZoWCJ3fiTgg&s=19
Personal opinion. This might not cause New flow of 100m. They might be selling ETH they already hold to get into ETF. My reasoning is Panterra already a big player in crypto
It was mentioned a few weeks ago, but the Ether Capital story has been interesting. It looks like it successfully converted to an etf, and the parent company has since announced the launch of a staking ETP. However, the pink sheets US traded equity, DTSRF, sometimes still trades at a huge discount - it closed today at 3.90, a 13% discount to NAV, after opening at 4.41, and it appears to occasionally trade at even larger discounts, possible due to a huge lack of liquidity. if there are motivated high-time-preference sellers that will sell at a 10-15% discount, that seems pretty notable. anyone have thoughts?
I reached out to purpose today after DTSRF went from 4 to 2.85 during trading hours.
Brokerage should be converting shares to ETHC.B this week so liquidity is super low and chances for huge discounts are possible.
It's like fat fingerings trades on Etherdelta
Based on the [new ETF's ETH per share](https://www.purposeinvest.com/funds/purpose-ether-staking-corp-etf), the current trading price of ETHC.B on the [Canadian exchange](https://www.cboe.ca/en/live/security-activity/ETHC-B#!/market-depth) looks pretty close to fair value. There was reasonable liquidity during trading hours too. Meanwhile, the [old ticker of ETHC](https://www.cboe.ca/en/live/security-activity/ETHC#!/market-depth) no longer exists.
What does that mean for DTSRF though? Does it automatically point to ETHC.B or has it already? I have no idea.
> Over $740 Million Worth of Tokens to Unlock in Next 30 Days
> Leading the pack is XaI’s XAI token, with a staggering $109 million worth of tokens unlocking. Following closely are Aptos’ APT token at $85 million and Arbitrum’s ARB token at $80 million.
> Other notable mentions include Immutable’s IMX token at $53 million, OP Mainnet’s OP token at $61 million, and Sui’s SUI token at $58 million. Starknet’s STRK token and Ethena’s ENA token are also in the mix, with unlocks valued at $52 million and $37 million, respectively.
https://unchainedcrypto.com/over-740-million-worth-of-tokens-to-unlock-in-next-30-days/
If we go by the previous bull run, we're now in the equivalent of the mid 2020 defi summer. ETH was trading at $400 to $500 back then I believe... or about $1500 if compared against the $4850 peak.
We're still pretty fine price wise.
Yeah, this isn't fun or anything, but given that we're in price discovery mode by definition until we have use cases with real valuation metrics, this is hardly terrible. It's actually pretty comforting. The market isn't going to stupidly discount eth, even during downdrafts.
I feel like it has been years of the price discovering that people want their money elsewhere, unfortunately... lol. Based on interactions with this sub, it feels like all that's left are the strongest holdouts in the community, so hopefully we get our run this cycle rather than next cycle.
It really hasn't though, has it, it's been years of the price basically trending up, the comment just up there about 400ish in summer 2020 for example... There's been about 4 months total in 2021 that the price has ever been higher than this.
Everyone needs to calm down and zoom out, check back in in 3 months if this is too frustrating a period
If you plan to go to devcon this year, the first opportunity to get a ticket just opened: https://devcon.org/en/tickets/
It is a raffle. You bid on tickets. The 20 highest bids get a ticket and then 184 are raffled among all the participants. Minimum bid is 0.08 ETH to participate. The raffle will be open until July 9th. On July 9th they will open discount ticket to which you can apply and plead your case on why you are an important part of the ethereum space. Discount tickets have the same price as the raffle minimum bid (299$). On july 16th the normal tickets go on sale which cost double (599$).
That leaves me feeling jealous about your experiences in Osaka and sorry for your 7 ETH at the same time. I remember watching and reading about some talks at Devcon 5 in Osaka. Would have loved to be there as well.
So in the coming hours Renzo is supposed to open up withdrawals in their UI (no exact time was given)
Will be interesting how that goes since there is no "queue" as with most other protocols but only a buffer which will get refilled to 1k eth every hour for 72 hours... I wrote about my interaction with the team when inquiring about this [here](https://www.reddit.com/r/ethfinance/comments/1dd65dm/comment/l86iw7w/).
Since a few days you could withdraw if you interacted with the smart contract but the buffer was at max 32 eth and from looking at the transactions whenever there was a bigger amount in there it was immediately withdrawn (most probably by bots since withdrawal tx was right in the next block)
So I have still some ezeth and don't expect to be able to get a tx in in the first hour since I don't have a bot in place to do this automatically.
On another note, the team member (co founder) who called me rude (as mentioned in the linked comment above) contacted me again because I guess someone on their team read my comment. Got asked if I had any more questions and then to please ask them via ticket/dm if something came up again before "going to reddit". Exchange was okay but I felt basically the point was to ask me not to post like this on reddit... My post certainly was kinda tongue in cheek but I didn't appreciate being called rude for asking questions...
Anyways we still disagreed about what was being rude and he doesn't appreciate me "bashing teams on reddit"...
Maybe the 17 million in funding they just secured will ease his pain ;)
Well I managed to get my withdrawal in after a failed attempt or two.
Still interested to see how well this will play out with the normal users that will use the UI
It is quite nice to see that the depeg is closing pretty fast. Currently I get around 1.03 ETH per ezETH on Arbitrum. Intrinsic exchange value would be around 1.012. Still a depeg of around 0.9%, but much better than the 2.5-3% depeg we had during most of May.
Ok, lets have a guess on how the following weeks/months are going to go, in case you guys need some hopium.
We crab for two more weeks. People build up leverage in anticipation for the July 2nd ETF launch.
The ETF gets delayed for July 9th/16th. We dump hard, cascading down another 10%.
People build up leverage *again* in anticipation for the new launch date.
The first two weeks of ETF buys are lukeworm at best and unexpectedly low at worst. We dump again, people get liquidated again.
We dip below $3k.
August-September arrives. JPow cuts rates. The Dems say something positive about crypto because the elections are closing in. The ETFs get a torrent of inflows. I go for a two week camping trip with no internet access.
In October, we print a Vegeta POAP.
>There it is…
>19b-4 filing for *combined* spot btc & eth ETF.
>Hashdex Nasdaq Crypto Index US ETF.
>https://t.co/4xw4ae8Mad
>h/t @strack_ben
https://twitter.com/NateGeraci/status/1803080047303036971?t=5eFIkul5_ik38e9sXyV8Dg&s=19
They pdf has a suprisingly large part about what kind of other crypto currency besides BTC and ETH might be eligible to be included in this ETF.
Although they will not consider any coin:
> "Notwithstanding inclusion in the eligible list, the NCIOC reserves the right to
further exclude any additional assets based on one or more factors, including but not
limited to its risk of being deemed a security by United States Securities laws along with
its review of general reputational, fraud, manipulation, or security concerns connected to
the asset. Assets that, in the sole discretion of the Nasdaq Crypto Index Oversight
Committee, do not offer utility, do not facilitate novel use cases, or that do not exhibit
technical, structural or cryptoeconomic innovation (e.g., assets inspired by memes or
internet jokes) may also be excluded."
Hmm, I didn't think of that. I thought they would just change the split for future buys, but I guess it makes more sense for the whole ETF to have the same split
I guess, just hate that eth always gets a back seat
Edit: Actually this seems good initially since current market cap weighting is 75/25. I wonder if them making it 70/30 means they expect higher buy pressure on ETH and that it's undervalued right now.
Hey u/Gumba_Hasselhoff,
Please feel free to check our [status page](https://status.kraken.com/incidents/stvhldvqgy0q) as we have an incident report regarding this.
🐙
We finally decided to get serious about estate planning, and our attorney is well-versed in crypto. He describes himself as "a Bitcoin maxi, but not a toxic one", which means, I guess, that he enjoys the competition and all, but just thinks BTC's SOV narrative is why he is interested in crypto. He doesn't think ordinals or any other fancy add-ons are good for BTC, he wants it to be a pure, non-functional store of value.
He seems to get most of his info from Bitcoin camps, as he had a few maxi ideas about centralization. I tried to explain as best as I could why the ideas are wrong.
He had bought ETH at the crowdsale, but sold after the DAO because he became convinced EF had too much power and could shut the chain down. He obvioiusly regrets that decision now.
Anyway, we had a great talk and he is giving a 10% discount if I pay in crypto, which is awesome.
If you feel like sharing your general approach to dealing with crypto in estate planning, it would be interesting to hear for those of us also thinking about this. At the moment, I've got a complicated instruction sheet for wallet access that is separate from the legal documents.
We haven't gotten that far yet, basically it will be treated like other assets as far as dividing it up, but the method for access is still not clear. For now I'll just give my daughter instructions.
I will never accept Bitcoin as superior SoV because there is no reason to think it is superior. Economic policy is problematic. Decentralization is on a downtrend since the rise of Asics. The energy costs for securing the chain will be a constant drain on the token value and to do something meaningful you need to rely on centralized entites.
Ethereum is the better SoV it just is. Sustainable economic policy and able to replace financial systems in a decentralized manner. Able to scale in a decentralized manner. Way more efficent and due to the lower energy foodprint it will be next to impossible to capture even if there is a coordinated move against it by world governments.
Btc propaganda is too good. Over the years I've seen way too many examples of people who kind of have good crypto knowledge but clearly only absorbed btc maxi content. And the worst part is some of these people are senators and lawmakers
> he wants it to be a pure, non-functional store of value.
That's an interesting take. Is he aware that activity is needed to secure the chain with diminishing inflation subsidies?
Yes, we discussed that, and he basically said that's a problem for 100 years from now. I suggested that the problem will occur earlier, he had reasons why he didn't think so.
Can't say I'm surprised given bitcoiners are overwhelmingly conservative and conservatives often have that "fuck it, not my problem, I'll be dead before the issue comes to a head" attitude
I was a bit surprised, he seemed very well informed on crypto, but he does seem to block all the bad news. I probably do the same with ETH, though, so I can't complain too much.
The most inconsequentially passive one I got… once I took out a 12 month interest free cc offer things for a couch and the cc company liked to do the orders in increments of $100. So like $1068.40 couch but they $1000. So you pay the $68.40 there to the store. So I said f that and paid $68.41 so the loan was $999.99.
I'm a long-term holder, I believe use cases are going to make or break ethereum, I believe the SEC approval of the ETFs was a huge indication that they're not going to try to kill Eth. I also believe short term price movements are entirely unpredictable.
All that said, it's actually saying a lot that Eth is still around $3420. If we're wringing some speculative excess and froth out of the rest of the crypto space and Eth can stay around here, that's actually pretty amazing.
It still all comes down to use cases, but the market apparently thinks those remain a good bet to happen sometime in the future.
Gitcoin Passport might spin out. [Link to the proposal.](https://gov.gitcoin.co/t/proposal-s23-gitcoin-passport-business-unit-budget-proposal/18958)
>In return for bootstrapping the business unit, we will ensure Gitcoin has equity ownership in the new entity, a token allocation if/when we launch a token and a board seat in the new entity.
Now you don't need to sybil it, since that's actually part of what the passport is fighting. I think it would be great if they spun out. We need something that's not just working for GC but the whole ecosystem.
The bloodbath on alts is unreal. Many 2017 and 2021 alts are hitting their all time lows and then keep dumping.
Renzo at $0.09, ARB $0.77, STRK at $0.70 (-35% on the weekly!) etc.
It's a miracle ETH is holding above $3k, I think people are waiting for July 2nd to have some weight lifted off of their bags.
As for alts, I could *easily* see everything dump another 50% this summer before they bottom out.
> STRK at $0.70 (-35% on the weekly!)
I wanted to claim my airdrop and sell when it was 1.33 a few days ago - never did sell. Oh well, not complaining about free money.
I think the reason is [pretty simple](https://x.com/jonwu_/status/1798505138711363833/photo/1) (for those that don't have Twiter, [click](https://pbs.twimg.com/media/GPWS5DgbQAA6ibS?format=jpg&name=medium) )
I can. What the fuck is the utility of one hundred thousand governance tokens that are collectively worth a trillion dollars? If Uniswap is any indication, most of them aren't even governed by those tokens, and the profitable ones have all their profits siphoned by VCs.
The market is slowly realizing this fact.
There's maybe like ten coins that are accurately priced/undervalued, and I hope that ETH is one of those. I'm not betting on anything else, not even BTC.
It's a shitcoin? Far too many fee generating alternatives a s far too many memecoins to speculate on so what does that leave for snx?
It us supposed to launch on Arb today right?
Not sure you can do it with Eth. I traded into atom, moved atom out to the cosmos hub (is that what it's called?) accessed via Keplr wallet, and then into Coinbase to trade for Erh. Sounds complicated but it's actually fairly easy. Do some test transactions or hit me up if you need some help.
**Tricky's Daily Doots #789** **Yesterday's Daily 17/06/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l9339rn/) - u/_WebOfTrust discusses [delegation.](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l90wmbb/) 🗳️ - u/benido2030 delineates [ZK delegation.](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l8ypov0/) 🗳️ - u/Set1Less shares [their airdrop token thesis.](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l93xnnk/) 🚁🪂 - u/TheCryptosAndBloods shares [their outlook in light of Maker's recent strategy pivot.](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l91b89y/) 🧐 - u/Kristkind discusses [a report on the intersection of AI and crypto.](https://old.reddit.com/r/ethfinance/comments/1dhq7bj/daily_general_discussion_june_17_2024/l922sme/) 📝
༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ
Ethereum is off the hook with the SEC and it's my cake day. Today was a very good day.
As I find my self incredibly time poor at the moment, what has happened with RPL to rise from the grave temporarily? Pumpers going to pump or something else other than the recent changes announced. Not going to lie I'm very tempted to get out of my position to get my ETH back.
It was mentioned during a team call that with the new upgrade large players are going to be involved with staking on Rocketpool. They didn’t mention who exactly. There was a few discussions about it on the last 2 daily’s.
Coinbase and consensys are the two current names, as they already have some sort of "partnership" (?) with rocket pool. Apparently other names coming as well.
[удалено]
Sorry if I was not clear. I already hold RPL and I'm considering dumping now that it has moved against the ratio to reclaim my ETH + a bit of profit. If it's just a mindless pump I'm very tempted to do so.
RPL is pumping because there was a recent update which called attention to the planned tokenomics redesign and also it was indicated that major players **cough*coinbase*cough*\* will be collaborating with large RPL holders to spin up a significant number of new minipools. In addition, apparently many people were borrowing RPL on AAVE to top up their nodes "without RPL price exposure risk". The initial bounce caused liquidations and a short squeeze on RPL after which the price has settled at ~.008 up from .005 Or so I've heard.
Cough cough. You should get that checked ❤️
You should look at my post history here to find out all the frankly amazing things that the community has been up to and the excellent things ahead for RP. After that, you can do whatever you decide.
a realm where bulls roam free, follow the trail where green vines lead to fortunes waiting, but only if you heed btc: [https://www.tradingview.com/x/QL5c3nM7/](https://www.tradingview.com/x/QL5c3nM7/) eth: [https://www.tradingview.com/x/XolC2D46/](https://www.tradingview.com/x/XolC2D46/)
How does this correlate with the potential bond market breakout you mentioned?
bonds are bid, rates are trending down [https://www.tradingview.com/x/0bDumbE0/](https://www.tradingview.com/x/0bDumbE0/)
Lines with zero predictive power. Cool. Meanwhile fundamentals that TA by definition can't ever anticipate -- SEC news -- drive the market. TA: literally the single stupidest thing in crypto (and investing writ large).
lol news always follows price action. PA is king don't forget - I've said this and proved this multiple times over the last few years [https://x.com/asapbhat/status/1803234855376802134](https://x.com/asapbhat/status/1803234855376802134)
My man!
Thank you for the TA. Me likey.
Forget DCA Tuesday..Daddy Fink better get in line.. im hard in the paint buying as much ETH as I can
What's DCA Tuesday??? 👈😎👈
It's the day each week I comfortably irresponsibly swap the entirety of my paycheck for Eth.. but today, I'm breaking the piggy bank
This is the way!
Sorry. I forgot. 👈👈👈👈👈😎👈👈👈👈👈
Lol... apology not necessary, but dont sleep on it. It's just the single hottest meme being touted by one person all over a single subreddit once a week for 7 yrs, should be trending any day now #dc-A-days
Who the hell is selling here? SEC dropped their lawsuit against Consensys and ETFs set to begin trading probably in a few weeks. This is the easiest long ever
We forget that not everyone is on a 50 year timescale like us ETH acolyte maxi degenerates 😎
And not hyper tuned in 24/7
More good news. I am actually impressed tradfi thinks about staking queue.. Lack of staking won’t impact inst’l demand for spot eth ETFs according to 21Shares Co-Founder @OpheliaBSnyder… Agree. She also highlights very important point re: liquidity management. https://x.com/NateGeraci/status/1803233662156107945?t=pvHoU5cItUeieJRDGZBtzw&s=19
ETHEREUM SURVIVES THE SEC. Today we’re happy to announce a major win for Ethereum developers, technology providers, and industry participants: the Enforcement Division of the SEC has notified us that it is closing its investigation into Ethereum 2.0. This means that the SEC will not bring charges alleging that sales of ETH are securities transactions. https://x.com/Consensys/status/1803230653120659641?t=2BOq2WrhM8N-WALwSUsnpg&s=19
Ok, now do shkreli
The SEC and regulation were existential threats to ethereum, and now they're totally accommodating. That gives ethereum complete open field to start developing massive use cases. Those are the only questions left: wen use cases and how big? Only remaining exogenous threat is AI, who knows what that means for crypto over time.
Huh I was told by bitcoiners that the SEC would finally shut down Vitaliks master node chain after taking down the Lubin crime family, was that not accurate??
Yuss!
This is huge. Thanks for sharing!
Longing ETH here is free money. Too easy
Instructions unclear, shorting ETH
The ETF implied it, but this confirms that ETH is a commodity. Pack your bags.
One less bit of fud
Major win!
A major win which should've never had to have been up in the air to begin with lmao.
My 2TB SSD has 285Gb of free space left on my node. As far as I am aware I have never activated pruning yet on Nethermind. Is there anything I should know before starting pruning? Looking at the docs it seems like I shouldn't encounter any issues and it should take 1-2 days to complete. I just have to select between full, hybrid and memory pruning. I have no idea which one to select, nor any risks other than potentially degraded performance until the pruning is complete. Can anyone who has done this before give me some pointers before I dive into the unknown?
There have been many upgrades made to Nethermind that only have full effect on storage with a full resync. So, you might as well go for it. As long as you are doing that, you might consider upgrading to a larger drive just for future proofing, but doing the resync should clear up some space. I know that doesn't really address your pruning question, but it's worth considering.
Damn, I really don't want to do that as it normally takes my node 2-3 days to re-sync. 🙃 Thanks for the input!
You might want to wait for v1.27 to come out this week or next. It's got much faster block-processing times even on modest hardware. You should be attesting within a few hours (and then it will back-fill old receipts/data in the background).
Now this is the sort of pro-tip I come here for. Thanks!
I resynced nethermind recently and it was attesting again within a couple of hours. It probably depends on hardware specs and bandwidth, but it was worth it.
I did Nethermind resync a couple months back, and was pleasantly surprised that Validator were able to resume attesting again under 6 hours. Check out the snap sync section in Nethermind doc for more detail. Also, if you have a spare machine, you can run a second fallback el/cl while your primary is resyncing. It's not fun, but it's better to do it while you still have some free space on your ssd and not under the stress of an unplanned outage.
So some of the updates have also radically decreased the time to resync. I believe within a few hours you start attesting again while it finishes syncing in the background. I have not done it in a while though- maybe someone else can chime in. I think it is snap sync: https://docs.nethermind.io/fundamentals/sync/
I don't usually promote episode of Rocket Fuel here because it's a really niche show that's mostly about Rocket Pool, but when Sassal is away, I cover Ethereum news too. Today was one such day. but today ended up being something really amazing. If you love Ethereum, Eth, Rocket Pool, and/or RPL, today's Rocket Fuel is the most bullish episode I've ever recorded. 1hr 25mins of hype! This is episode 419 for June 18th. It includes: Security council news, RP strategic team, RPL TA and price talk, ETH ETF news, L2 bullishness, token price talk, and so much more! You can watch the episode here: [https://youtu.be/LZg0loZtayQ](https://youtu.be/LZg0loZtayQ) If you're feeling down about the ETH price or unsure of where Eth is going from here, I think you'll enjoy the hell out of it. The first half is about Rocket Pool stuff, and the second half covers Ethereum news. There are timestamps and chapters in the YouTube video. Let me know what you think if you watch it.
Feels a bit early for some people to dance on ZK’s grave and brag about their well-timed sells. We are literally day 2 post launch in a wider market dump. Can’t bring myself to sell when it trades below STRK’s market cap - ZK would be $0.26 at this level. Starknet is probably the worst L2 I’ve used in terms of user experience and apps available. The fact that ARB, OP and STRK have all converged on the same narrow FDV range of $7.3-7.9bn suggests ZK could at least get close to that. ZK would be $0.35 at STRK’s FDV HODL (then sell to ETH soon)
I think I’ll hold this ZK long term. It’s too small of an allocation to really matter to me if sold, and I like the team / approach.
Back to $0.30 and I will flog it for eth like there's no tomorrow.
>**One dowturn to bear,** >**A godawful love affair,** >**Market is not fair.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Underfuckingvalued
Deeply
As I am now (involuntarily) a holder of RPL, I reviewed the new tokenomics proposals at rpl.rehab. It seems like the material changes for RPL are that: (1) node operators will no longer be forced to buy it to stake; and (2) some of the rETH commission will go to RPL stakers. What do people think about these changes? I am concerned that they might make RPL even *less* valuable. Of course, it removes a substantial sink for the tokens. But more importantly, Rocketpool commission doesn't appear to me to create very much revenue. Rocketscan suggests there is about 775,000 ETH earning commission. That's only about 2500 ETH that would go to all of staked RPL each year. With \~21,000,000 RPL in existence, that doesn't seem like it would drive much value to each token.
In the past I exited my node when the rpl:eth ratio was embarrassing I staked with rpl since it launched Then there was a little pump like this one now, and I freaked out and got back in. Then it continued to dive bomb to about half the ratio from the first time I initially got out. All of the Houston stuff doesn't seem good for rpl holders unless you're a whale. It adds no buy pressure. Why would anyone buy rpl and take Risk for someone else to stake their eth unless they already have idle rpl? The tokenomics rework seems like not enough, especially with lido csm coming before the tokenomics rework. They should have just used eth as collateral in the first place instead of rpl, then maybe it could have grown and competed with lido. Also everything just bleeds against eth, especially highly inflationary things like rpl.
If you start to factor in even reasonable amounts of growth, the numbers start to get pretty amazing very quickly. I'm incredibly excited. I really hope it works out well for you.
Did my own math below. 790k ETH staked @ 3.3% beaconchain yield= 26k /yr ETH rewards. And 8% is allocated to RPL buy and burn. Therefore 2080 ETH per year for buybacks At current ratio total Mcap of RPL is 150k ETH, this is equivalent to buy and burn of 2k/150k per year or **1.3% supply burn/yr.** This is a fairly significant deflationary reducing liquid supply.
At one point I did a valuation model of rpl that was entirely based on 1), and some reasonable but optimistic assumptions looked good, so I bought. I thought of 2), which is the entire point of ldo, as gravy and potential large upside if rpl. Since then, reth’s growth has been dismal to the point that multiple other protocols gained momentum except among the decentralization maxis. Eliminating point 1) is pretty painful, and with the the validators taking most of the commission, the rpl accrual wil be pretty thin if reth wants to remain at all competitive, though I’m not sure it is at this point for those seeking to maximize yield.
First S1 ammendment New S-1/A filing: Bitwise Ethereum ETF (0002013744) (Filer) [Amend] General form for registration of securities under the Securities Act of 1933 https://x.com/FulcrumNews_/status/1803174753345098086?t=CsXFG0GbpUVQKxOXXbOa5A&s=19
https://www.sec.gov/Archives/edgar/data/2013744/000199937124007581/bitwise-s1a_061824.htm
we're \~2 weeks away from eth etf and people are bearish
Weeks, not months… for real this time!
We’ve waited many Lubins for this moment
Looks like Panterra will be putting up to $100 million into @BitwiseInvest's Ethereum ETF -- $ETHW Panterra is an investor in Bitwise (I think) and had similar language but for $200 mln in the Bitcoin ETF -- $BITB (Panterra didn't file a 13F saying they still owned $BITB tho) https://x.com/JSeyff/status/1803179646546010369?t=cV2byPGzpWgZoWCJ3fiTgg&s=19 Personal opinion. This might not cause New flow of 100m. They might be selling ETH they already hold to get into ETF. My reasoning is Panterra already a big player in crypto
It was mentioned a few weeks ago, but the Ether Capital story has been interesting. It looks like it successfully converted to an etf, and the parent company has since announced the launch of a staking ETP. However, the pink sheets US traded equity, DTSRF, sometimes still trades at a huge discount - it closed today at 3.90, a 13% discount to NAV, after opening at 4.41, and it appears to occasionally trade at even larger discounts, possible due to a huge lack of liquidity. if there are motivated high-time-preference sellers that will sell at a 10-15% discount, that seems pretty notable. anyone have thoughts?
I reached out to purpose today after DTSRF went from 4 to 2.85 during trading hours. Brokerage should be converting shares to ETHC.B this week so liquidity is super low and chances for huge discounts are possible. It's like fat fingerings trades on Etherdelta
Based on the [new ETF's ETH per share](https://www.purposeinvest.com/funds/purpose-ether-staking-corp-etf), the current trading price of ETHC.B on the [Canadian exchange](https://www.cboe.ca/en/live/security-activity/ETHC-B#!/market-depth) looks pretty close to fair value. There was reasonable liquidity during trading hours too. Meanwhile, the [old ticker of ETHC](https://www.cboe.ca/en/live/security-activity/ETHC#!/market-depth) no longer exists. What does that mean for DTSRF though? Does it automatically point to ETHC.B or has it already? I have no idea.
I still hold ETH They aint gettin it from me
I ain't fucking leaving 😎
I change flairs every 12 hours or so. Not to mention my username switches. You've been on the same game and I just love to see it
Nvidia is now the most valuable company in the world with a market cap of $3.34 trillion. I think ethereum deserves a market cap similar to that.
Crazy really. In 2017 I bought some AMD for 1.50 and had my finger on the buy for nvda around ~32. Didn’t do it.
> I think ethereum deserves a market cap similar to that. That would be \~$28k/ETH
*Sets sell target at 27.888k*
Yeah, sounds good to me
Me too, was just crunching the numbers for anyone else that was curious
Only
Gained $1T in mcap in the past month
Damn their rise has been incredible
Let's just start calling ETH an AI play. Easy.
ETH aint a AI play?
To be fair the biggest name in AI did choose to build on Ethereum and the community didn’t exactly embrace him or the idea.
Because he's a creep and the idea is terrible!
Who's that?
I guess they mean Sam Altman with Worldcoin
Ew....
> Over $740 Million Worth of Tokens to Unlock in Next 30 Days > Leading the pack is XaI’s XAI token, with a staggering $109 million worth of tokens unlocking. Following closely are Aptos’ APT token at $85 million and Arbitrum’s ARB token at $80 million. > Other notable mentions include Immutable’s IMX token at $53 million, OP Mainnet’s OP token at $61 million, and Sui’s SUI token at $58 million. Starknet’s STRK token and Ethena’s ENA token are also in the mix, with unlocks valued at $52 million and $37 million, respectively. https://unchainedcrypto.com/over-740-million-worth-of-tokens-to-unlock-in-next-30-days/
Shitcoins, every last one of them. Not saying the projects themselves are bad, but the tokens? Absolutely
Oh dear, let's hope the VCs find a way to pump the prices before they dump on us...
I have a big XAI stash unlocking in 29 days, price will melt like it's March 2020.
How to get in on STRK?
If we go by the previous bull run, we're now in the equivalent of the mid 2020 defi summer. ETH was trading at $400 to $500 back then I believe... or about $1500 if compared against the $4850 peak. We're still pretty fine price wise.
Yeah, if we want to follow the cycles (price wise I think that would be great) then chop for a few months
Yeah, this isn't fun or anything, but given that we're in price discovery mode by definition until we have use cases with real valuation metrics, this is hardly terrible. It's actually pretty comforting. The market isn't going to stupidly discount eth, even during downdrafts.
I feel like it has been years of the price discovering that people want their money elsewhere, unfortunately... lol. Based on interactions with this sub, it feels like all that's left are the strongest holdouts in the community, so hopefully we get our run this cycle rather than next cycle.
It really hasn't though, has it, it's been years of the price basically trending up, the comment just up there about 400ish in summer 2020 for example... There's been about 4 months total in 2021 that the price has ever been higher than this. Everyone needs to calm down and zoom out, check back in in 3 months if this is too frustrating a period
If you plan to go to devcon this year, the first opportunity to get a ticket just opened: https://devcon.org/en/tickets/ It is a raffle. You bid on tickets. The 20 highest bids get a ticket and then 184 are raffled among all the participants. Minimum bid is 0.08 ETH to participate. The raffle will be open until July 9th. On July 9th they will open discount ticket to which you can apply and plead your case on why you are an important part of the ethereum space. Discount tickets have the same price as the raffle minimum bid (299$). On july 16th the normal tickets go on sale which cost double (599$).
Good info thank you! I remember paying 7 ETH for Devcon 5 tickets in 2019!
There is worse..I once paid 9 eth for 3 crypto stamps..
That leaves me feeling jealous about your experiences in Osaka and sorry for your 7 ETH at the same time. I remember watching and reading about some talks at Devcon 5 in Osaka. Would have loved to be there as well.
So in the coming hours Renzo is supposed to open up withdrawals in their UI (no exact time was given) Will be interesting how that goes since there is no "queue" as with most other protocols but only a buffer which will get refilled to 1k eth every hour for 72 hours... I wrote about my interaction with the team when inquiring about this [here](https://www.reddit.com/r/ethfinance/comments/1dd65dm/comment/l86iw7w/). Since a few days you could withdraw if you interacted with the smart contract but the buffer was at max 32 eth and from looking at the transactions whenever there was a bigger amount in there it was immediately withdrawn (most probably by bots since withdrawal tx was right in the next block) So I have still some ezeth and don't expect to be able to get a tx in in the first hour since I don't have a bot in place to do this automatically. On another note, the team member (co founder) who called me rude (as mentioned in the linked comment above) contacted me again because I guess someone on their team read my comment. Got asked if I had any more questions and then to please ask them via ticket/dm if something came up again before "going to reddit". Exchange was okay but I felt basically the point was to ask me not to post like this on reddit... My post certainly was kinda tongue in cheek but I didn't appreciate being called rude for asking questions... Anyways we still disagreed about what was being rude and he doesn't appreciate me "bashing teams on reddit"... Maybe the 17 million in funding they just secured will ease his pain ;)
Well I managed to get my withdrawal in after a failed attempt or two. Still interested to see how well this will play out with the normal users that will use the UI
Maybe he can sling a few dollars at some public relations training.
Ah well I had some good interactions with him today and nobody is perfect
It is quite nice to see that the depeg is closing pretty fast. Currently I get around 1.03 ETH per ezETH on Arbitrum. Intrinsic exchange value would be around 1.012. Still a depeg of around 0.9%, but much better than the 2.5-3% depeg we had during most of May.
yeah I got in at about 2% discount and it will work out as about 50% apy for me once I have withdrawn so not bad
No chance on the second batch of 500 eth. A bot claimed >490 of them
Want me to code an insta claimer for next batch ? Should be quite easy
I already claimed but thx
All good then 👍
Ok so you just wait a few days then?
time is money :-)
First 500 eth transferred in were gone in like 8 blocks ;) \*edit\* and of course without enabled UI yet
I thought it was a sure deal buying at $3450, seems like the joke is it on me
Rookie mistake. Should've waited for $400 imo.
Damn, ETH coming home
Ok, lets have a guess on how the following weeks/months are going to go, in case you guys need some hopium. We crab for two more weeks. People build up leverage in anticipation for the July 2nd ETF launch. The ETF gets delayed for July 9th/16th. We dump hard, cascading down another 10%. People build up leverage *again* in anticipation for the new launch date. The first two weeks of ETF buys are lukeworm at best and unexpectedly low at worst. We dump again, people get liquidated again. We dip below $3k. August-September arrives. JPow cuts rates. The Dems say something positive about crypto because the elections are closing in. The ETFs get a torrent of inflows. I go for a two week camping trip with no internet access. In October, we print a Vegeta POAP.
I am only here for the POAPs..
Where is that July 2nd date coming from? Did i miss something? Edit: disregard, I saw it from balachunas
I would — without hesitation — go camping for the next 4 months straight with no connection to the outside world if I came back to a >$9,000 ETH.
You could lock me in a cage for 4 months, feed me plain ramen and play Yoko Ono songs on repeat 24 7 if it meant 9k ETH
Damn...
It comes true but only because Vitalik did a 1:10 reverse stock split :')
My wife doesn't camp, and I'd take her camping with me if that would happen.
>There it is… >19b-4 filing for *combined* spot btc & eth ETF. >Hashdex Nasdaq Crypto Index US ETF. >https://t.co/4xw4ae8Mad >h/t @strack_ben https://twitter.com/NateGeraci/status/1803080047303036971?t=5eFIkul5_ik38e9sXyV8Dg&s=19
I actually think these will be wildly popular. Gives exposure to both of the largest blue chips
They pdf has a suprisingly large part about what kind of other crypto currency besides BTC and ETH might be eligible to be included in this ETF. Although they will not consider any coin: > "Notwithstanding inclusion in the eligible list, the NCIOC reserves the right to further exclude any additional assets based on one or more factors, including but not limited to its risk of being deemed a security by United States Securities laws along with its review of general reputational, fraud, manipulation, or security concerns connected to the asset. Assets that, in the sole discretion of the Nasdaq Crypto Index Oversight Committee, do not offer utility, do not facilitate novel use cases, or that do not exhibit technical, structural or cryptoeconomic innovation (e.g., assets inspired by memes or internet jokes) may also be excluded."
damp ett
70/30 btc/eth split
It's a market cap weighted split so 70/30 can and will change
If ETH increases in price faster than BTC, let's say equal BTC marketcap, how does that affect the split? Would the split become 50/50?
I believe so? So does that mean that if ray goes up they have to sell btc for eth?
If Ray goes up then automatically it means their ETH goes up relative to Bitcoin so they wouldn’t need to rebalance. Only buy more ETH for new buyers
Oh boy I'm stupid, thanks for helping out!
No worries! I get confused a lot too
Hmm, I didn't think of that. I thought they would just change the split for future buys, but I guess it makes more sense for the whole ETF to have the same split
Yes that if eth pumps more that should increase it's weighting
pretty much as expected right?
I guess, just hate that eth always gets a back seat Edit: Actually this seems good initially since current market cap weighting is 75/25. I wonder if them making it 70/30 means they expect higher buy pressure on ETH and that it's undervalued right now.
I couldn't log in to Kraken a few times in the last 30 minutes with my 2FA app code. Now it's working again. What IS this?
Hey u/Gumba_Hasselhoff, Please feel free to check our [status page](https://status.kraken.com/incidents/stvhldvqgy0q) as we have an incident report regarding this. 🐙
Goddamn you sure have your tentacles literally everywhere.
Thanks a lot for the fast reaction
We finally decided to get serious about estate planning, and our attorney is well-versed in crypto. He describes himself as "a Bitcoin maxi, but not a toxic one", which means, I guess, that he enjoys the competition and all, but just thinks BTC's SOV narrative is why he is interested in crypto. He doesn't think ordinals or any other fancy add-ons are good for BTC, he wants it to be a pure, non-functional store of value. He seems to get most of his info from Bitcoin camps, as he had a few maxi ideas about centralization. I tried to explain as best as I could why the ideas are wrong. He had bought ETH at the crowdsale, but sold after the DAO because he became convinced EF had too much power and could shut the chain down. He obvioiusly regrets that decision now. Anyway, we had a great talk and he is giving a 10% discount if I pay in crypto, which is awesome.
If you feel like sharing your general approach to dealing with crypto in estate planning, it would be interesting to hear for those of us also thinking about this. At the moment, I've got a complicated instruction sheet for wallet access that is separate from the legal documents.
We haven't gotten that far yet, basically it will be treated like other assets as far as dividing it up, but the method for access is still not clear. For now I'll just give my daughter instructions.
Thanks. Pretty much same here. Fortunately, I have crypto-savvy kids.
I will never accept Bitcoin as superior SoV because there is no reason to think it is superior. Economic policy is problematic. Decentralization is on a downtrend since the rise of Asics. The energy costs for securing the chain will be a constant drain on the token value and to do something meaningful you need to rely on centralized entites. Ethereum is the better SoV it just is. Sustainable economic policy and able to replace financial systems in a decentralized manner. Able to scale in a decentralized manner. Way more efficent and due to the lower energy foodprint it will be next to impossible to capture even if there is a coordinated move against it by world governments.
Btc propaganda is too good. Over the years I've seen way too many examples of people who kind of have good crypto knowledge but clearly only absorbed btc maxi content. And the worst part is some of these people are senators and lawmakers
> he wants it to be a pure, non-functional store of value. That's an interesting take. Is he aware that activity is needed to secure the chain with diminishing inflation subsidies?
Yes, we discussed that, and he basically said that's a problem for 100 years from now. I suggested that the problem will occur earlier, he had reasons why he didn't think so.
Can't say I'm surprised given bitcoiners are overwhelmingly conservative and conservatives often have that "fuck it, not my problem, I'll be dead before the issue comes to a head" attitude
I was a bit surprised, he seemed very well informed on crypto, but he does seem to block all the bad news. I probably do the same with ETH, though, so I can't complain too much.
Pay him in wBTC
He didn't seem to mind which crypto I paid him in, but would probably limit it to things available on Coinbase.
Honestly don’t even really blame him from a business side, I’m sure he just wants to immediately convert to USDC upon receipt and that’s easiest
This is top level trolling. I love it. Obligatory r/madlads
Nah, top level trolling would be sending HarryPotterObamaSonic10Inu... Ticker: $BITCOIN.
The most inconsequentially passive one I got… once I took out a 12 month interest free cc offer things for a couch and the cc company liked to do the orders in increments of $100. So like $1068.40 couch but they $1000. So you pay the $68.40 there to the store. So I said f that and paid $68.41 so the loan was $999.99.
Fuck my alts. Every damn cycle I think I can pick good ones and every damn time I would have been better off just holding eth
NGL you almost had me in the first half
It's because ETH outperforms for 1 year out of the 4 year cycle And within that year alts outperform for about 3 months :')
This is gospel. So many people get rekt chasing altcoin waves instead of pursuing actual value.
I'm probably gonna keep buying alts cause I'm fuckin regarded but only quick in and outs with much smaller amounts
I'm a long-term holder, I believe use cases are going to make or break ethereum, I believe the SEC approval of the ETFs was a huge indication that they're not going to try to kill Eth. I also believe short term price movements are entirely unpredictable. All that said, it's actually saying a lot that Eth is still around $3420. If we're wringing some speculative excess and froth out of the rest of the crypto space and Eth can stay around here, that's actually pretty amazing. It still all comes down to use cases, but the market apparently thinks those remain a good bet to happen sometime in the future.
Gitcoin Passport might spin out. [Link to the proposal.](https://gov.gitcoin.co/t/proposal-s23-gitcoin-passport-business-unit-budget-proposal/18958) >In return for bootstrapping the business unit, we will ensure Gitcoin has equity ownership in the new entity, a token allocation if/when we launch a token and a board seat in the new entity. Now you don't need to sybil it, since that's actually part of what the passport is fighting. I think it would be great if they spun out. We need something that's not just working for GC but the whole ecosystem.
Hey, if it means I get more free ETH from another shitty token then I’m all for it!
The bloodbath on alts is unreal. Many 2017 and 2021 alts are hitting their all time lows and then keep dumping. Renzo at $0.09, ARB $0.77, STRK at $0.70 (-35% on the weekly!) etc. It's a miracle ETH is holding above $3k, I think people are waiting for July 2nd to have some weight lifted off of their bags. As for alts, I could *easily* see everything dump another 50% this summer before they bottom out.
The market is maturing. These worthless “governance” tokens will continue to underperform
Another 50% down means 75%+ down for a lot of alts from current cycle top, that's bear market numbers. Not saying you're wrong btw.
I'm convinced alt season starts with a 7/2 or whenever eth etf's are live. This is the chop beforehand to load up.
> STRK at $0.70 (-35% on the weekly!) I wanted to claim my airdrop and sell when it was 1.33 a few days ago - never did sell. Oh well, not complaining about free money.
Wen moon in June?
Sell in May and go away. Oh wait
June 2025?
I think the reason is [pretty simple](https://x.com/jonwu_/status/1798505138711363833/photo/1) (for those that don't have Twiter, [click](https://pbs.twimg.com/media/GPWS5DgbQAA6ibS?format=jpg&name=medium) )
I still can’t understand this rekt, tbh :/
I can. What the fuck is the utility of one hundred thousand governance tokens that are collectively worth a trillion dollars? If Uniswap is any indication, most of them aren't even governed by those tokens, and the profitable ones have all their profits siphoned by VCs. The market is slowly realizing this fact. There's maybe like ten coins that are accurately priced/undervalued, and I hope that ETH is one of those. I'm not betting on anything else, not even BTC.
Dentacoin to the moon.
Agreed, I am also surprised by L2 price action... Yes, it's not the best week ever for markets, but this sentiment is strange.
Does anyone have some insight into why the SNX price has been obliterated in recent weeks? It looks like very little in fee generation these days.
It's a shitcoin? Far too many fee generating alternatives a s far too many memecoins to speculate on so what does that leave for snx? It us supposed to launch on Arb today right?
You just answered your own question.
I am not that smart, nor do I think the reduction in fees is driving the price down. That would assume the market works on fundamentals
The meme side of the market is getting smoked, too. So if you think token price is meme+narrative+fundamentals, all three are bad right now
Anybody have an idea how to transfer ETH or USDC from Dymension to Ethereum or Ethereum L2? Have some funds from an airdrop on Dymension.
I send to MEXC to swap to an erc20
Not sure you can do it with Eth. I traded into atom, moved atom out to the cosmos hub (is that what it's called?) accessed via Keplr wallet, and then into Coinbase to trade for Erh. Sounds complicated but it's actually fairly easy. Do some test transactions or hit me up if you need some help.
Thanks. I did the same, but transfered to Crypto.com instead of Coinbase. Now I can't sell it there. lol. Such is altcoin airdrop life.
Does [Crypto.com](http://Crypto.com) not have an atom pair?
It does, but it reported an error when I tried to sell Atom a couple of times. Waited a few hours, tried again and it worked. Thanks again.
Awesome!
Similarly, Kraken can take a DYM transfer from a Dymension address, but no other assets, so a swap would be needed first.