Bull Trap, or Bull Market? with Vance Spencer

<p>Vance Spencer is the Co-Founder of Framework Ventures, a VC firm that got its claim to fame by sticking around during the 2018-2020 bear market, going all-in on DeFi before we had a name for it, and taking risks and finding gems while everyone else fled the industry.</p> <p>This is Vance’s 4th appearance on Bankless, because in addition to being a chad VC, he’s also adept at measuring the markets and understanding metas, which is what we’re looking to do here today.</p> <p>Bitcoin is down 66% from the top, but up 50% from the bottom! ETH Down 66% from the top, but up 75% from the bottom! Solana down 90%, but up 200% from the bottom! Meanwhile, Ethereum’s L2 ecosystem is HOT. OP is hitting ATHs. RPL is at its highs in ETH terms, nearing highs in USD terms… Aptos is somehow at a 16B valuation.</p> <p>Question: Where are we??? Vance has the answer.</p> <p>------<br /> Crypto Tax Calculator | Free Crypto Tax Calculator<br /> <a href= "https://bankless.cc/CTCpodcast">https://bankless.cc/CTCpodcast</a> </p> <p>------<br /> JOIN BANKLESS PREMIUM:<br /> <a href= "https://newsletter.banklesshq.com/subscribe">https://newsletter.banklesshq.com/subscribe</a> </p> <p>------<br /> BANKLESS SPONSOR TOOLS:</p> <p>KRAKEN | MOST-TRUSTED CRYPTO EXCHANGE<br /> <a href= "https://bankless.cc/kraken">https://bankless.cc/kraken</a> </p> <p>UNISWAP | ON-CHAIN MARKETPLACE<br /> <a href= "https://bankless.cc/uniswap">https://bankless.cc/uniswap</a> </p> <p>️ ARBITRUM | SCALING ETHEREUM<br /> <a href= "https://bankless.cc/Arbitrum">https://bankless.cc/Arbitrum</a> </p> <p>EARNIFI | CLAIM YOUR UNCLAIMED AIRDROPS<br /> <a href= "https://bankless.cc/earnifi">https://bankless.cc/earnifi</a> </p> <p>-----<br /> Timestamps:</p> <p>0:00 Intro<br /> 6:24 Vance's Read of the Market<br /> 8:10 Ranging<br /> 9:40 Indicators<br /> 13:00 Apathy Market<br /> 15:30 Trends<br /> 18:41 Institutions<br /> 22:45 Is FTX a Permanent Stain?<br /> 25:45 Aptos<br /> 29:30 Alt-L1s<br /> 35:05 Private Markets<br /> 37:24 Crypto Gaming<br /> 41:15 Future of DeFi T