Bankless

ROLLUP: Bull Market? | Inflation Cools, War Heats | Robinhood Flips Base | ETH’s Fee Problem

1h 7min

In this episode of Bankless, David and Ryan discuss whether the crypto market has bottomed yet, analyzing Bitcoin cycle charts and cooling inflation data. They explore Robinhood Chain's explosive growth flipping Base in activity, sparking debates on Ethereum L2 economics and whether L2s pay enough rent to ETH holders. The hosts also cover the Iran war's impact on oil prices, Michael Saylor's latest Bitcoin moves, and the resurgence of the buy-and-burn token model.

Summarized by Podsumo

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✨ Key Takeaways

1

Robinhood Chain flipped Base in user operations on July 10th, with 117 ops/sec vs 93 for Base, driven by meme coin trading and the 7% USDG yield via Morpho.
2

The hosts debate whether ETH should maximize fee revenue from L2s or pivot to a pure store of value narrative, with Plenia's hot take suggesting two stark paths for Ethereum.
3

Michael Saylor raised $466M via MSTR stock sales without selling any Bitcoin, maintaining a $3B cash position for 20 months of dividend coverage.
4

Jesse Pollock admitted Base's creator coin direction was wrong, pivoting to focus on DeFi and trading after Robinhood Chain's rapid success.
5

The buy-and-burn token model is highlighted as undefeated, with Hyperliquid, VVV, and Lit all burning tokens, while Ansem notes trust premium also matters.
6

DeFi hacks peaked in April 2026 and have since declined, with Haseeb calling the 'hackpocalypse' a false alarm as protocols hardened defenses.

💬 Notable Quotes

"Never fade the cycle. Every time you want to fade the cycle in crypto, the cycle repeats."
"The buy and burn model is undefeated. In 2026, our leading projects with the most energy and attention are doing the buy and burn model."
"Robinhood Chain is the cleanest case study of what happened to ETH's economics over time. Ethereum gets 0.15% of revenue for data availability."