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40 sats \ 1 reply \ @Cje95 OP 8h \ parent \ on: I Think Maybe We Have The Votes??? Crypto Weeks Been A Mess.... Politics_And_Law
Tbh it really doesn't make a ton of sense though…. GENIUS, the one that would go to the President to sign into law, deals with stablecoins?! CLARITY which deals with the entire crypto market and BTC faces an uncertain future with the Senate.
I personally think that ETH is pumping because of Wall Street. Tokenization moves by Republic and Robinhood are huge and at the moment ETH has the name rec. Plus you have those I think 2 companies with ETH reserves now
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0 sats \ 0 replies \ @grayruby 7h
ETH is pumping because open interest has increased 70% in the past 3 weeks. No other reason. Some of that is cash and carry from Wall Street firms rebalancing and adding ETH due to more friendly regulatory environment but it is mostly rampant leveraged speculation. Layer 2s accrete almost no value to the base chain and most layer 2 use cases are total hogwash.
Just like the hype with the merge, previous upgrades and the ETFs last year there will be speculative fervour for a short time and then it will blow up and ETH will got back to trending to 0 against Bitcoin.
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