Bankless ROLLUP: 3rd Week of February (ETH & BTC ATH's, NFT's, Andrew Yang, Bitwise DeFi Index, Reflexer launches RAI)
Feb 19, 2021
The cryptocurrency scene is buzzing with Bitcoin and Ethereum hitting all-time highs. Interesting discussions revolve around the rising importance of NFTs, especially with Beeple's auction at Christie's. The podcast dives into the impact of the newly approved Bitcoin ETF in Canada and explores innovative DeFi solutions. There's also a political angle with ambitions to establish New York City as a crypto hub. Finally, the challenges of governance in Ethereum and the vibrant culture surrounding cryptocurrency are highlighted, blending serious topics with humor.
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Market Highs
- Bitcoin and Ether both hit all-time highs this week, surpassing $50,000 and $1,900 respectively.
- Total value locked in DeFi also reached a new high of $42 billion.
DPI/ETH Ratio
- The DPI/ETH ratio, a measure of risk appetite in DeFi, decreased slightly this week.
- This suggests a retracement in DPI relative to ETH, despite overall strong performance.
Bitcoin on Ethereum
- 1% of all Bitcoin now resides on the Ethereum network, highlighting Ethereum's growing role as a financial hub.
- This surpasses Bitcoin's Lightning Network and Blockstream's Liquid significantly.