Episode 78
DeFi Decoded - Ethereum goes Ultra-Sound! Is ETH the New Digital Gold?
The DeFi Decoded Podcast · Alex Tapscott & Andrew Young
January 19, 202324m 25s
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Show Notes
On today's episode, Andrew and Alex talk about crypto's stellar start to 2023. Since the beginning of the year, Bitcoin and Ethereum are up more than 20% while some smaller names like Solana have fared even better. Is this a dead cat bounce? Short covering? A macro-driven rally lifting all risk-on boats? Or is this the start of a new bull market? Next they talk about how Ethereum is becoming 'ultra-sound' meaning net new-issuance of tokens is flat or declining. How does Ethereum compare to other big profitable enterprises like Apple who use excess profit to buy back stock much in the same way the Ethereum network uses excess network fees to retire ETH (a process known as 'burning'). As always, a little knowledge of traditional finance is helpful to understanding Web3!