This Week's Episode Summary

Ethereum’s price rise to above $3,400 comes from its growing use in DeFi. 40% of Ethereum moved on-chain in the last 12 months is to, from, or between DeFi, compared to 7% in the prior 12 months.

As the average % USD gains of Ethereum holders approach that of bitcoin holders, the differing value propositions of Ethereum and bitcoin are ever clearer in the data. The price of Ethereum is rising because Ethereum is being used, while the price of bitcoin is rising because it is scarce.

Dogecoin’s price rise demonstrates that cryptocurrencies are experiments in branding for financial assets, plugged directly into the craziness and creativity of the internet. While this may seem counter to traditional financial brand values, it may be that traditional financial brand values are out of step with consumers.

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Music by https://www.tylerbeckwithmusic.com/ (Tyler Beckwith)