The Daily Gwei - Going Up - The Daily Gwei #361
ETH just touched it’s all time high of ~$4375 which was last hit on the 10th of May 2021. It’s been quite the journey over the last few months with both bulls and bears in constant debate about whether the bull market was over or not. Well, I think we can safely say that it is definitely not over - in fact, the real bull market may just now be getting started. Big love to all my Ethereum homies who stick through all the bullshit so that we all get to celebrate days like today
WAGMI ❤️ Even though it’s only been around 6 months since ETH last hit all time high, the progress the Ethereum ecosystem has made has been astounding. EIP-1559 went live and has so far burned 588,000 ETH, the layer 2 rollout has picked up steam with almost $4 billion locked, the NFT market on Ethereum went absolutely bonkers, the roadmap for The Merge has come into much clearer view, we’ve had a resurgence of DeFi activity and so much more. This is why so many of us Ethereans are never bored even if the market is bearish - there’s just too much happening in the Ethereum ecosystem - after all, it’s an economy that never sleeps. Though it hasn’t always been easy for us Ethereans and we’ve been through a lot over the years such as having to contend with hordes of people calling Ethereum dead, calling flagship products like DeFi a scam, suffering through a brutal 2018 where ETH lost 94% of its value, and then slogging through 2019 before finally being rewarded for all our hard work in 2020. All of these trials and tribulations have made the Ethereum community incredibly resilient and has given us a backbone to fight off all the continued bullshit that we endure even to this day. Hell, it’s a major source of motivation for me to keep writing this newsletter and doing my YouTube videos - I don’t want the bad information to win! As ETH enters price discovery and continues its journey to $10k and beyond, there are people questioning if another long-term bear market (similar to 2018/2019) is possible. I’m personally in the camp that thinks the 2 year bear market is gone as I just don’t see it happening given how big crypto is now - we’re really not in Kansas anymore and I think the clearest case for that is what happened with the infrastructure bill and El Salvador making BTC legal tender - crypto is part of the geopolitical arena now. In saying that, I don’t think we’re in the “mass adoption” phase of crypto yet - far from it - we’ve still got lots more to build, billions of people to educate and onboard, and lots of different industries to disrupt. Ethereum still has a lot more growth left in it - we really haven’t even seen anything yet - but this also means that we need to keep marching forward, keep building, keep educating and keep our wits about us. All of the bullshit that we’ve had to defend against so far is nothing compared to the fights that we’ll be having in the future - so let’s all do our best to ensure that Ethereum lives to see another day. Have a great day everyone, Enjoyed today’s piece? I send out a fresh one every week day - be sure to subscribe to receive it in your inbox! Join the Daily Gwei EcosystemAll information presented above is for educational purposes only and should not be taken as investment advice. If you liked this post from The Daily Gwei, why not share it? |
Older messages
Free Stuff - The Daily Gwei #360
Wednesday, October 20, 2021
The Ethereum community gives a lot more than it takes.
Prayerdrops - The Daily Gwei #359
Tuesday, October 19, 2021
Living on a prayer for those sweet drops of air.
Economic Powerhouse - The Daily Gwei #358
Monday, October 18, 2021
Ethereum is an economic powerhouse of epic proportions.
Paradigm Shifts - The Daily Gwei #357
Friday, October 15, 2021
Paradigm shifts don't happen very often but when they do you better be paying attention.
Scarce Resources - The Daily Gwei #356
Thursday, October 14, 2021
Optimizing resources for long-term health and sustainability.
You Might Also Like
Polymarket’s accurate forecast of Trump win highlights gaps in mainstream media, pollsters
Thursday, November 7, 2024
Polymarket's swift Trump prediction showcases the dynamic efficiency of decentralized markets over established media. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Reminder: President Biden Calls Nigerian PM To Secure Binance Executive Release
Thursday, November 7, 2024
We bring you the top stories in crypto every week! Stories like... Monday Nov 4, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR President Biden Calls Nigerian PM To Secure Binance Executive
Bybit COO Helen: Inside the Second Largest Crypto Exchange
Thursday, November 7, 2024
Helen Liu is an atypical executive in the crypto exchange world. She comes from a human resources background and was new to crypto when she joined the exchange. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
US Bitcoin Reserve asset, Freeing Ross Ulbricht, Firing Gary Gensler… Time for Trump to deliver
Wednesday, November 6, 2024
Trump's crypto-friendly agenda promises a seismic shift in US digital assets strategy, driving Bitcoin to record highs. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly — 📈 Polymarket hits US$2.5 billion in volume amidst the US presidential election; TON Foundat…
Wednesday, November 6, 2024
Polymarket hits a record of $2.5 billion in volume amidst the US presidential elections. TON Foundation launches Society DAO to enhance decentralised governance. Swell launches optimistic rollup in Op
DeFi & L1L2 Weekly — 📈 Polymarket hits US$2.5 billion in volume amidst the US presidential election; TON Foundati…
Wednesday, November 6, 2024
Polymarket hits a record of $2.5 billion in volume amidst the US presidential elections. TON Foundation launches Society DAO to enhance decentralised governance. Swell launches optimistic rollup in Op
Mining News in October:Ethiopia Becomes Mining Concentration, Northern Data Plans to Divest Mining Business, Bitco…
Wednesday, November 6, 2024
Title sponsored by Bitdeer, a NASDAQ-listed mining company. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
US markets, Bitcoin poised for rally regardless of elections outcome
Tuesday, November 5, 2024
Fundstrat's Tom Lee sees year-end rally as election uncertainty fades, while Bernstein predicts Bitcoin's resilience and potential growth to $200000 by 2025 amid fiscal challenges. ͏ ͏ ͏ ͏ ͏ ͏
Crypto Market & Polymarket Dynamics Heading into Elections
Tuesday, November 5, 2024
Coin Metrics' State of the Network: Issue 284 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
OneKey: How Can the Latest Mac Trojan Steal Your Crypto Wallet in 10 Seconds?
Tuesday, November 5, 2024
It's commonly said in the crypto world that Apple computers are safer than Windows systems, but nothing is completely secure. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏