Bankless 📺 ROLLUP: China Crypto Ban | NFTs & Bitcoin on Twitter | Compound Bug | Virgil Griffith
Oct 1, 2021
This week, the hosts dive into the implications of China's crypto ban and how it affects market dynamics. They discuss Twitter's new NFT profile picture feature and its potential to legitimize digital assets. Insights on Ethereum's EIP-1559 upgrade highlight changes in transaction efficiency and supply. The evolving landscape of DeFi is examined with platforms like dYdX making waves. Additionally, the potential for Bitcoin’s integration into traditional finance through features like Coinbase's direct deposit sparks excitement in the crypto community.
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NFT Indices and Metrics
- Current NFT indices lack widespread adoption and a standard metric for measuring market value is needed.
- A consistent metric for NFT markets would improve reporting and analysis.
dYdX surpasses Coinbase
- Five years after leaving Coinbase, Antonio Juliano's dYdX now surpasses Coinbase in trading volume.
- This demonstrates the rapid growth and potential of DeFi protocols.
China Ban & dYdX Growth
- The China crypto ban and dYdX's token rollout have likely fueled its recent growth.
- Chinese users might be migrating to DeFi platforms like dYdX to avoid censorship.