Larry Cermak, VP of Research at The Block, and Igor Igamberdiev, Director of Research and Data at The Block, dive deep into crypto trends of 2021 and forecasts for 2022. They dissect why the market didn't peak as expected post-Bitcoin halving, Larry’s views on DeFi tokens, and the implications of Ethereum's transition to 2.0. Igor shares insights on multichain solutions fueling VC investments and the shifting dynamics of NFTs. Their discussion also navigates the future of KYC-DeFi and the metaverse, offering a fresh perspective on this evolving landscape.
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insights INSIGHT
L1s Capitalized on Ethereum's Fees
Ethereum's high gas fees priced out new DeFi users, benefiting alternative L1s like Binance Smart Chain.
These L1s offered cheaper fees and EVM compatibility, attracting users and developers seeking higher returns.
insights INSIGHT
Solana's Ecosystem Growth
Solana successfully bootstrapped its developer ecosystem by offering incentives and guaranteeing listings on FTX.
This strategy, combined with the promise of high returns, attracted significant investment.
question_answer ANECDOTE
Ethereum 2.0 Rollout
Larry Cermak believes Ethereum 2.0's rollout will be slower and more complex than anticipated.
He cites uncertainties around timing, functionality, liquidity fragmentation, and cross-chain compatibility.
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Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze
Laura Shin
The Cryptopians delves into the story of idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses. The book focuses on the founding of Ethereum by Vitalik Buterin and the subsequent crypto fever it created. It introduces readers to larger-than-life characters such as Buterin, Charles Hoskinson, and Joe Lubin, highlighting the personal and professional conflicts that shaped the early days of Ethereum. The narrative explores the booms, busts, and internecine wars within the crypto world, revealing it as a deeply personal struggle to influence the coming revolution in money, culture, and power.
Larry Cermak, VP of research at The Block, and Igor Igamberdiev, director of research and data at The Block, recap the most significant trends of 2021 (BTC mining, L1s, NFTs, DeFi, venture funding) and discuss what might happen in 2022. Show topics:
why 2021 was so significant for the crypto industry
why the crypto markets didn’t see a blow-off top at the end of the calendar year the way they typically do about a year after a Bitcoin halving
what Larry thinks about whether the crypto market is in a supercycle
how the state of BTC and ETH mining changed in the past year
why Igor thinks multichain technology was key to a record-breaking year for venture capital entering the crypto space in 2021
how the layer 1 (L1) ecosystem wars played out in 2021 and what it could look like in 2022
what Larry and Igor think of Ethereum layer 2s (L2s)
how Ethereum’s shift to 2.0 could affect the L1 race
what Larry thinks about DeFi tokens going into 2022
how DeFi trends, like decentralized exchange volume and lending, played out in 2021
why Igor thinks KYC-DeFi (know-your-customer decentralized finance) is inevitable
what Larry thinks about NFTs going in 2022 and why he thinks PFPs are dead
Larry and Igor’s outlook on the metaverse going into the new year
Unchained 
