Bankless ROLLUP: ETFs Back? | Robinhood Acquires Bitstamp | Biden SAB-121 Veto
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Jun 7, 2024 The latest buzz revolves around the renewed interest in Bitcoin and Ethereum ETFs, highlighting investor sentiment and regulatory challenges. Robinhood's acquisition of Bitstamp adds a significant twist to its crypto ambitions. The episode dives into the burgeoning Layer 2 solutions sector, showcasing platforms like Uniswap on Arbitrum. Political dynamics come into play as the Biden veto of pro-crypto legislation raises eyebrows. Amidst market fluctuations, Ethereum's transaction fees and profitability are under the spotlight, revealing both opportunities and challenges ahead.
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Layer 2 TVL Shakeup
- Base flipped Optimism, becoming the second-largest Layer 2 by TVL.
- Arbitrum still dominates with nearly $20 billion TVL.
Layer 2 Profitability
- Layer 2s are proving to be highly profitable businesses.
- Base generated almost $7 million in profit during May from transaction fees.
Ethereum's Fee Dominance
- Uniswap's Arbitrum volume doubled compared to last year, reaching nearly $12 billion in May.
- Ethereum remains the "fee king," with its fees exceeding all major Layer 2s and Solana combined.