Bankless ROLLUP: ETFs Flop? | BTC on U.S. Balance Sheet? | Polymarket Booming | Japan Tanking Markets
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Jul 26, 2024 Discover the mixed fortunes of recent ETF launches, with Ethereum experiencing surprising drops despite initial excitement. Dive into Bitcoin's resilience amid a declining NASDAQ and unpack how Layer 2 solutions are gaining traction. Explore the intriguing rise of decentralized exchanges, alongside the evolving political landscape surrounding cryptocurrency. Plus, learn about Polymarketâs role in prediction markets and the recent surge in interest from high-profile figures. It's a whirlwind of insights into crypto's future and market dynamics!
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Market Downturn and Bitcoin's Resilience
- The crypto market downturn, also affecting tech stocks, might be due to risk aversion in Japan.
- However, market corrections are normal and Bitcoin surprisingly remained up 2% on the week.
Bitcoin ETF Flows and Market Performance
- Despite the market dip, Bitcoin saw a 2% weekly increase, possibly due to Bitcoin ETF flows.
- BlackRock's Bitcoin ETF year-to-date flows have even surpassed those of the NASDAQ-tracking ETF QQQ.
Layer 2 Growth and Profitability
- Layer 2 solutions on Ethereum show strong growth with six times more active users than Layer 1.
- Base has the highest margins, indicating a healthy and profitable Layer 2 ecosystem.