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Health, Wealth, and Happiness

May 29, 2024

"If it wasn't hard, everyone would do it. It's the hard that makes it great."

- Tom Hanks

Howdy, investors!

Tokenized stocks have been called the next wave for Wall Street, and one of the first is already trying to list on the NYSE. Wallet maker Exodus Movement (EXOD) has hit some roadblocks but still offers great potential. Below: what investors need to know.

The approval of an Ethereum ETF sparked a wave of bullishness for ETH and adjacent tokens built on the Ethereum network, such as Lido (LDO) and Uniswap (UNI). However, there are still questions about the impact of these new ETFs on the Ethereum ecosystem.

EtherFi is planning to release a credit card tied to restaking returns. Is this a great way to leverage staked positions, or a bad idea for a personal finance product?

While we don't see memecoins as viable investments, they are one of the most popular sectors for traders. Many of the most popular have been created on Solana, but the newer Base chain is also gaining popularity as a memecoin platform. Can it overtake Solana?

Read on!

Exodus Movement (EXOD) Tokenized Stock: Is it a Good Buy?

by Preetam Kaushik

We believe tokenized stocks are the future of Wall Street.

It's clear that investors already think of crypto tokens like stocks, but creating a token legally equivalent to owning stock is a different matter.

One of the pioneers in the tokenized stock movement is Exodus Movement, which has issued a token (EXOD) legally a stock ($EXIT) and is battling with the SEC to get it listed on the NYSE.

This presents an interesting opportunity for both traditional and crypto investors, as it's a sign of things to come.

Today's piece traces the history of the Exodus Movement and takes an in-depth look at its background and financial performance. We assess the EXOD's risks, challenges, and investment potential as a legally tokenized stock.

Learn if you should join the Exodus into the Promised Land >>

Must Read

Today's most important stories for crypto investors.

Exploring the Impacts of ETH ETF Approvals (Coin Metrics)

As we discussed on Friday, the SEC has approved eight different spot ETH ETFs. This is excellent news for investors looking to ride a wave of mainstream popularity and acceptance. However, the ETFs will not include staking, which could impact Ethereum's supply dynamics. While a direct ETH investment could take advantage of increased demand from institutional investors, the real winners could be projects plugged into the larger Ethereum ecosystem.

EtherFi Unveils Plans For Credit Card Tied To Restaking Holdings (The Defiant)

EtherFi, the leading Ethereum restaking protocol, has launched EtherFi Cash, a Visa credit card linked to users’ restaked ETH holdings. Founder Mike Silagadze said the launch of EtherFi Cash is crucial for boosting mainstream adoption of crypto assets. The introduction of traditional credit to a volatile market with security vulnerabilities and regulatory uncertainty makes this a potential nightmare, however... one we feel investors would be wise to avoid.

Can Base Challenge Solana’s Memecoin Dominance? (Bankless)

We've covered the Solana memecoin market, and while we don't recommend memecoins as investments, we understand that they help grow the network and provide liquidity. Now, it looks like Base might take the crown of the top memecoin blockchain.

While Base has seen impressive daily trading volumes, it lacks the broad appeal and capital inflow into Solana. The platform has potential, but it needs to establish a more compelling memecoin narrative to compete with Solana's dominance this cycle.

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Chart of the Day

Ethereum Gas Fees

Ethereum fees hit a six-month low of $1.12 per transaction two weeks ago. However, they have rebounded and are now averaging $1.89 as May ends.

That means Ethereum is now collecting more in fees. While that might seem bad for individuals, it suits the network and staking. Higher fees help support network growth and higher staking APYs.

Part of the current volatility in Ethereum fees is that Ethereum's supply dynamics have shifted since Dencun. There has been a net increase in Ether supply over the last month, contrasting with previous months of steady deflation. The launch of Ethereum ETFs could be just what the network needs to soak up that supply and revert Ethereum to a deflationary asset.

This means that a recovery in Ethereum fees could be the first sign of a pickup in the overall crypto market, which has been primarily flat over the past eight weeks.

ICYMI