The Decline of Correlations in Cryptocurrencies

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Uniswap has been performing incredibly well in terms of pure volume. And I'm curious, do you think we've kind of hit this like inflection point where, you know, DEXs really start commanding more and more volume as we move forward? Yeah, it's been really interesting. The first quarter was really strong for DEXs. You know, part of that speaks to speaks to the fact that when everything was happening with the regional banking crisis,. But I definitely won't be surprised if we get to the end of this year and in this next bull market, we're seeing consistently a challenge from Uniswap to Coinbase's market share.

Matt Hougan and Ryan Rasmussen from Bitwise join us to discuss their views on Coinbase, L2 valuations, the institutional investor landscape and more! And as usual, we start the episode with our analyst bullpen to discuss Ethereum's client failures, Pulse Chain's ponzi, Lido's new update and Tether's attestation report.

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Timestamps:

(00:00) Introduction

(01:05) Hot Seat/Cool Throne

(26:10) Interview Start: Institutional Investor Sentiment

(37:23) Regulation Outlook

(40:59) The Coinbase Bull Case

(49:26) L2 Valuations: Arbitrum vs Optimism

(51:49) Implications of USDC’s Depeg

(57:11) The Decoupling of Equities and Crypto

(1:00:42) DEX Market Share and Brand Moats in Crypto

(1:05:02) LST Baskets

(1:06:46) Returning Protocol Revenue to Token Holders

(1:08:48) BRC-20s, High Fees and L2 Volume Growth

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Resources:

Tether's Q1 Report

https://bit.ly/42UOYzY

Bitwise's website

https://bitwiseinvestments.com/

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