Bankless

ROLLUP: 2nd Week of June (El Salvador, Elizabeth Warren, Bitcoin FBI Ransom, Polygon & Arbitrum)

Jun 11, 2021
Explore the exciting advancements in layer two technologies, particularly how El Salvador's bold Bitcoin decision is reshaping its economy. Dive into the implications of ransomware attacks on Bitcoin's reputation and the evolving regulatory landscape. Discover how DeFi is transforming traditional finance, with innovative projects like Coinbase's crypto retirement options and Aave's lending features. The hosts also discuss Uniswap's launch on Arbitrum and its impact on lower fees, alongside the current state of the NFT market and the unique challenges of liquidity provision.
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INSIGHT

Bitcoin Price Action

  • Bitcoin touched a low of $32,000, spooking investors, but the El Salvador news pumped the price back up.
  • The Bitcoin chart looks broken, but the El Salvador news could help repair it, potentially setting a price floor.
INSIGHT

ETH and DeFi Market Overview

  • ETH price is down on the week, causing anxiety for long-term holders.
  • Aave has become the dominant DeFi protocol, surpassing MakerDAO in total value locked.
INSIGHT

Crypto Market Cooldown

  • Overall market volume has decreased, but remains high compared to previous months.
  • Coinbase app store ranking dropped, suggesting less retail demand.
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