Liquid-staking > Bitcoin ETF? Why did some coins do well?
Trying to make sense of what happened this week in the markets - glad that Tezos is getting some shine but what made this week interesting is that it coincided with Bitcoin's ETF - news which didn't really help Bitcoin all that much but it helped a *select few* coins, while most of them actually went down.
My gut tells me that both XXTZ and
SUI have something "normal people" want - which is basic, L1 liquid staking that allows people to earn "interest" on their money in a way where they don't have to lock it up. (Don't get me started on ETH on this one, lol.) TTIA might've gotten some attention because they were marketing their liquid staking protocol recently but it's similar to other workaround solutions where you get tokens instead of the actual coin itself.
I think it's safe to say that most people won't bother with L2 staking since managing sub-tokens within a currency itself is just too much work, and too much risk. This is mostly just a hunch the hypothesis right now is that some of the money that was supposed to flow into Bitcoin ETFs took a closer look at saw liquid staking as something potentially appealing since it's one of the few things in crypto that's easier to understand. What do you think?
My gut tells me that both XXTZ and
SUI have something "normal people" want - which is basic, L1 liquid staking that allows people to earn "interest" on their money in a way where they don't have to lock it up. (Don't get me started on ETH on this one, lol.) TTIA might've gotten some attention because they were marketing their liquid staking protocol recently but it's similar to other workaround solutions where you get tokens instead of the actual coin itself.I think it's safe to say that most people won't bother with L2 staking since managing sub-tokens within a currency itself is just too much work, and too much risk. This is mostly just a hunch the hypothesis right now is that some of the money that was supposed to flow into Bitcoin ETFs took a closer look at saw liquid staking as something potentially appealing since it's one of the few things in crypto that's easier to understand. What do you think?
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