Bankless 203 - ETH in 2024
13 snips
Jan 1, 2024 
Mike Ippolito, a savvy crypto commentator from Blockworks, and Jordi Alexander, Chief Alchemist at Mantle, delve into the future of Ethereum. They discuss the mixed performance of ETH in 2023 while highlighting the building momentum for 2024. Key topics include Ethereum's evolving role as a settlement layer, the impact of Layer 2 solutions on efficiency and costs, and the potential for decentralized networks amidst market challenges. The guests also share bullish predictions for ETH's price and its emergence as a credible global currency.
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Ethereum's 2023 Performance
- Ethereum's 2023 price performance was mediocre compared to other assets.
- Building activity, however, was very strong, suggesting a disconnect between price and fundamentals.
Crypto Bull Market Dynamics
- A bull market involves reshuffling of investments, with more online discussion than actual movement.
- This perception of activity influences the narrative around crypto assets, especially on Twitter.
Bitcoin and ETH in Bull Cycles
- Bitcoin typically outperforms ETH initially in a bull cycle, with ETH catching up later.
- The current outperformance of Solana can be seen as a mini DeFi summer and a market rebalancing.