Bankless ROLLUP: 1st Week of March (3LAU & Grimes NFTs, PayPal Crypto, Citigroup Report)
Mar 5, 2021
Dive into the whirlwind of the cryptocurrency market, where Bitcoin and Ether prices are showing intriguing trends. Discover how Grayscale Bitcoin Trust is influencing DeFi revenue, and explore PayPal's integration of crypto into mainstream finance. NFTs are booming, with celebrity influence driving record sales. The podcast also highlights decentralized protocols like Synthetics and the innovative Monolith wallet, all while discussing the differing perspectives of Ethereum and Bitcoin supporters amidst the crypto revolution.
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Episode notes
NUPL Metric
- The Net Unrealized Profit/Loss (NUPL) metric indicates the market is in the "belief" stage, prior to "euphoria".
- According to this metric, the bull run isn't over yet.
Financial Advisors and DeFi
- Bitwise's DeFi index fund is their fastest-growing product, signaling financial advisors' increasing interest in DeFi.
- This influx of traditional finance into DeFi is a very bullish indicator for the future of the industry.
Multi-Chain Future
- Crypto is becoming more mainstream, with Google Finance adding a dedicated crypto tab.
- ZkSync, SushiSwap, AlphaHomora, and Metamask are expanding to Layer 2 and other chains.