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Weekly Recap: Apple Switches Course, Vitalik on Security & More
This week in crypto was characterized by several trend reversals across the decentralized perpetuals, Bitcoin Inscriptions, and Big Tech spaces:
- Kwenta (a perps DEX powered by Synthetix) flipped GMX (the longtime market leader) for volume,
- Bitcoin Inscriptions (the hottest narrative play over the last few weeks) lost -73% of it’s volume since peak, and
- Apple switched its stance on crypto integrations by allowing STEPN to integrate Apple Pay.
Deeper in the forest, long term discussions around exporting demand for protocol security (an essential factor in layer 1 value accrual) are heating up as:
- Vitalik offered his thoughts on protocols like Layer 2’s and re-staking protocols like Eigenlayer, which both import security from Ethereum
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