Bankless ROLLUP: Stripe's Billion Dollar Stablecoin Bet | Noteworthy Investor Longs BTC | Kraken's New L2 | Self Custody Is For Losers??
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Oct 25, 2024 A billion-dollar acquisition has sparked excitement in the stablecoin market, setting the stage for future developments. Kraken joins the Layer 2 race, while Worldcoin rolls out its own L2 solution. Paul Tudor Jones expresses optimism about Bitcoin as an inflation hedge, contrasting with Michael Saylor's provocative remarks on self-custody. The conversation also dives into Ethereum's evolving ecosystem and the implications of emerging technologies like ZK rollups, underscoring the ever-changing landscape of cryptocurrency.
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Bitcoin ETF Flows vs. Ether
- Bitcoin's ETF flows show strong inflows totaling $2.1 billion, with $2 billion in the last ten days.
- Ether, however, has seen minimal inflows, impacting the ETH-BTC ratio, which hit a three-year low.
ETH-BTC Ratio at 3-Year Low
- The ETH-BTC ratio has reached a three-year low of 0.0372, the lowest since April 2021.
- Trader Ben Cowan predicts a bottoming process for the ratio, potentially extending into early January 2025.
L2s and Property Rights
- Stage one and two rollups offer stronger property rights akin to Ethereum Layer 1.
- This permissionlessly expands Ethereum's property rights settlement network.