Bankless ROLLUP: What BlackRock's Bitcoin ETF Means For Crypto
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Jun 23, 2023 Dive into the latest buzz as BlackRock's Bitcoin ETF proposal shakes up the crypto world! The hosts explore the ensuing market excitement and rising investor confidence. They discuss Ethereum's growing staking scene and highlight the legal landscape's influence on crypto dynamics. Prepare for insights about community engagement, upcoming events, and how institutional investment is reshaping perceptions across the board. Tune in for a rollercoaster journey through the evolving landscape of cryptocurrency!
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Speculative Pump
- The recent crypto market pump is likely due to speculation on future inflows from TradFi, particularly BlackRock's Bitcoin ETF application.
- Actual sustained price increases will depend on new money entering the market, not just speculation.
Bull Market Foundation
- TradFi's entrance into crypto, alongside developments like staking withdrawals, lays the foundation for the next bull market.
- The SEC's overreach may have caused this shift, as institutions signal crypto's legitimacy.
ETH Staking Surge
- Staking withdrawals de-risked ETH staking, leading to a surge in ETH FOMO and a validator queue.
- ETH staking will likely continue to grow, fueled by LSTs and restaking.