ETH ETF chat, Everclear introduced and more - The Daily Gwei Refuel #776 - Ethereum Updates

Summary

In this episode of Delway Refu, the host discusses the upcoming Ethereum ETFs, their potential impact on ETH prices, and speculates on trading timelines. He also addresses the recent rebranding of Connect to Everclear, which aims to solve liquidity fragmentation between chains. The host touches on the significance of MasterCard's new crypto credential for peer-to-peer transactions and expresses his bullish stance on Ethereum's future, particularly regarding its use as a store of value and the growth of the onchain ecosystem. He also mentions his recovery from surgery and plans to continue daily episodes, despite suggestions to reduce frequency.

Takeaways

• 🌐 The host discusses the Ethereum (ETH) ETFs, which have been approved and are speculated to start trading by the end of June or early July 2024.
• 💊 The potential impact of ETH ETFs on the price of ETH is debated, with the host expressing a bullish view, expecting new investment inflows to be positive for ETH's price.
• 🔄 Concerns are raised about the conversion of Grayscale's ETHE trust product to an open ETF, with speculation about potential sell pressure affecting the market.
• 📉 The host argues against a bearish outlook, stating that any outflows from ETH products are likely to be offset by new inflows from various ETFs and other sources.
• 🗓️ An updated eth roadmap website by EthWave is highlighted, providing an interactive timeline and information on Ethereum's upgrades and improvements.
• 🏆 Rockapool's RPL token has been criticized for its design, and a tokenomics revamp is underway to address scalability issues and incentivize node operators.
• 📊 Coffee's new Dune Analytics dashboard on rollup economics is introduced, providing insights into L2 blob fees and their impact on Ethereum's fee capture.
• 🎖️ Connect, now rebranded as Everclear, aims to be the first clearing layer solving fragmentation for modular blockchains through a protocol-driven approach.
• 💼 MasterCard's crypto credential has gone live with peer-to-peer transactions, indicating a growing involvement of traditional finance in the crypto space.
• 🚀 The host expresses a strong bullish sentiment on Ethereum and the broader crypto market, citing various developments and integrations as positive signs for the future.
• 🗣️ The host commits to continuing the daily episode cadence of 'delway refu' to keep the community informed amidst the rapid pace of developments in the crypto industry.

Q & A

What was the reason for the host's absence in the previous episodes?

The host was absent due to undergoing surgery and experiencing a longer recovery period than expected, which involved being in and out of sleep and on painkillers.

Who filled in for the host during their absence?

Whack Attack filled in for the host, covering Ethereum news on his show, Rocket Fuel.

What is the current status of ETH ETFs?

ETH ETFs have been approved, and the speculation now is about when they will start trading and their potential impact on the price of ETH.

When can we expect the ETH ETFs to start trading?

The earliest expectation for the ETH ETFs to go live for trading is at the end of June, with a possible timeline extending into July.

What is the potential impact of ETH ETFs on the price of ETH?

The introduction of ETH ETFs is considered bullish for the price of ETH, as it will bring new investment flows into the asset.

What is the speculation around Grayscale's ETHE product converting into an open ETF?

There is speculation about potential sell pressure on ETHE as it converts into an open ETF, similar to what happened with GBTC, but the host believes that Grayscale may have learned from this and may lower fees to reduce outflows.

What is the bullish case for ETH according to the host?

The bullish case for ETH includes the belief that there will not be significant outflows from the ETHE product once it converts to an ETF, and the host expects more demand from other ETFs bringing in fresh money.

What is the host's view on the long-term prospects for ETH?

The host is extremely bullish on the long-term prospects for ETH, expecting it to be a lot higher in value a year from now due to various bullish factors including the impact of ETFs and other developments in the Ethereum ecosystem.

What is the new development with Rockapool's RPL token?

Rockapool has revamped its tokenomics, which is expected to result in the protocol's growth by attracting more node operators and validators.

What is the significance of the new Connect (now Everclear) rebranding?

Everclear aims to be the first clearing layer that coordinates the global settlement of liquidity between chains, solving fragmentation for modular blockchains and enabling cross-chain interoperability.

What is the recent development with MasterCard and its crypto credential?

MasterCard has gone live with its first peer-to-peer transactions using its crypto credential, which simplifies sending and receiving crypto by using aliases instead of complex blockchain addresses.