Podcast Summary
This podcast episode delves into the anticipated approval of BTC and ETH ETFs, the increasing usage of blobs and rollups in the Ethereum ecosystem, and the role of fees in the Ethereum ecosystem. It also discusses the current state of Crypto Twitter and recommends alternative sources for reliable Ethereum information.
Key Takeaways
Anticipated Approval of BTC and ETH ETFs
- Speculated Approval Dates: Bloomberg analyst, Eric Balchunas, speculates that the S-1s for BTC and ETH ETFs could be approved by July 2nd, with the launch of the ETH ETFs expected around July 8th.
- Market Reaction: The market has been mostly sideways during this waiting period, with ETH experiencing a pump to $4K before trending down.
Increasing Usage of Blobs and Rollups
- Blob Usage: The increase in blob usage is attributed to the zkSync airdrop, which has larger blobs, leading to a fee market and the burning of ETH.
- Rollups and L2s: The usage of rollups and L2s is not just a theoretical concept but is being actively used by real users on the Ethereum network.
Role of Fees in the Ethereum Ecosystem
- Fee Market Environment: The Ethereum ecosystem is transitioning to a permanently fee market environment, similar to Layer 1, due to the increasing usage of blobs.
- Transaction Fees: The goal for end users is to have fast and cheap transactions on-chain, with a target of around 1 cent per transaction.
State of Crypto Twitter
- Low-Signal Environment: The host expresses disappointment with the current state of Crypto Twitter, describing it as a low-signal environment filled with drama and influencers making fools of themselves.
- Alternative Sources: The host recommends alternative sources for reliable Ethereum information, such as the Daily Gwei, Bankless, the Infinite Jungle podcast, and newsletters.
Unique Applications Built on Ethereum
- Doux and zkp2p: The host mentions unique applications built on Ethereum, such as Doux, a crypto payments app, and zkp2p, a trustless onramp and off-ramp to crypto using ZK technology.
- Blackbird and Farcaster: The host also mentions Blackbird, a restaurant loyalty app built on Ethereum, and Farcaster, a popular alternative to Twitter in the crypto community.
Sentiment Analysis
- Bullish: The podcast expresses a bullish sentiment towards the Ethereum ecosystem, highlighting the increasing usage of blobs and rollups, the anticipated approval of ETH ETFs, and the unique applications being built on Ethereum.
- Bearish: The podcast expresses a bearish sentiment towards Crypto Twitter, describing it as a low-signal environment filled with drama and influencers making fools of themselves.
- Neutral: The podcast maintains a neutral stance on the role of fees in the Ethereum ecosystem, emphasizing the importance of finding the right balance between transaction costs and user experience.
