Bankless ROLLUP: One Chart Determines if We're in a Bull or Bear Market
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Sep 12, 2025 The hosts dive into the current market dynamics, questioning if the bull run has ended amid rising unemployment. They discuss competition among stablecoins and Fidelity's notable foray into Ethereum. Controversies surrounding Justin Sun’s frozen tokens are examined, along with the rise of decentralized finance and significant market movements from Robinhood. The conversation also highlights evolving blockchain business models and the implications of regulatory challenges facing the crypto landscape.
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Dogecoin ETF Meme Moment
- Dogecoin is receiving an ETF ticker (DOJE), marking cultural momentum in ETFization beyond Bitcoin and Ether.
- The hosts note irony that Bitcoin was the first ETF asset with 'no utility on purpose' label.
Avoid Calling DATs 'Ponzi' Over MNAV Drops
- Don't label DATs as Ponzi schemes simply because MNAV dips below one; they hold underlying assets.
- Treat MNAV moves as cyclical and watch for momentum to restore valuations rather than assume fraud by default.
Ethereum Dominates Tokenized Real-World Assets
- Ethereum and EVM chains dominate tokenized real-world assets across stablecoins, treasuries, gold, and stocks.
- Combining Ethereum L1 plus EVMs gives Ethereum ~93% share of tokenized real-world assets today.