Every week I put out a summary of relevant and interesting Bitcoin, Ethereum, and DeFi related stories.
MARKET:
Some relief from downwards price pressure as we completed June and Q2. Ether deposited on exchanges keeps dropping to a 2 year low as it flows into DeFi and staking. We are now less than a month to the next Ethereum upgrade that will include EIP-1559, fee burning, which will continue to reduce the supply floor of Ethereum.
DeFi tokens like AAVE, COMP, ALPHA, and others rebounded from local lows.
Unfortunately, Bitcoin could not break the 20D moving average and headed back down sharply yesterday. We are still not in βup onlyβ mode and have been range bound for a long period of time.
NEWS:
EIP-1559 will be included in the Ethereum mainnet upgrade (London) on August 4th. This will introduce fee markets and 30% of gwei (ETH) spent on every transaction will be burned.
JP Morgan Says Ethereum Upgrades Could Jumpstart $40 Billion Staking Industry
RIP CITY!
Crypto.com sponsors UFC uniforms
Aave (DeFi protocol) onboarding institutional capital
Very big accomplishment but makes things tricky for governance
Sygnum bank offers Ethereum Staking as a Service
Grayscale βUnlockingsβ Poses Downside Risk to Bitcoin Price, JPMorgan Says
Goldman Sachs believes Ether is poised to overtake Bitcoin as the dominant Store of Value asset
Essay - Positive Sum Words: Remaking Public Goods
Excellent piece on the cultural implications of blockchain technology, specifically open and credibly neutral blockchains like Ethereum. This is about a 30 minute read.
REGULATORY:
Barclays stops UK clients from sending funds to Binance
Once again, banks looking out for their customersβ¦also known as controlling what they do with their money. Bad look Barclays
Wow more China FUD! Some things never change...
JPow Met with Coinbase CEO, Brian Amstrong, in May
Would love to have been a fly on the wall to hear what they discussed. A meeting is a positive step IMO. There has long been speculation about a digital dollar / Central Bank digital currency.
POD Oβ THE WEEK:
An excellent panel discussion from technology and crypto leaders who opine on the future of work, what the βcreator economyβ is, and how blockchains will empower it all through mutually aligned incentives.