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⌐◪-◪ → Did Base just take $50B from Ethereum?

The Ethereum vs. Layer 2 value accrual debate is nothing new, but Standard Chartered just reignited it—slashing its 2025 ETH price target by 60% and pointing the finger at Base.

According to their report, Base alone has "removed" $50B in market cap from Ethereum as economic activity shifts away from L1. Fees that once fueled Ethereum’s security now flow to L2s instead, boosting their profits while ETH struggles.

Ethereum wanted rollups to scale the network, but has it backfired? Critics argue Ethereum has "commoditized itself," giving away its most valuable revenue streams for free. Some analysts are even floating the idea of taxing L2s, like governments taxing foreign mining companies—but admit it’s unlikely.

Meanwhile, Ethereum’s fundamentals are taking a hit:

• S&P500 has outperformed ETH over the last 7 years

• ETH/BTC just hit a 5-year low

• Pump.Fun YTD revenue > ETH protocol revenue

• Stablecoins surpassed ETH’s market cap

• ETH dropped out of the top 20 protocols by revenue

Despite all this, large holders are still accumulating aggressively. Some see this as Ethereum's biggest test yet—others, just another phase in a long cycle of L2 FUD. Besides, who cares about Standard Chartered’s price predictions anyways.

So, is Base actually killing Ethereum, or is this just noise? Let me know what you think in Specs.Chat.

⌐◪-◪ → Robinhood bets big on prediction markets

Robinhood is officially launching a Prediction Markets Hub, allowing users to bet on major world events directly within the Robinhood app. The first contracts include bets on the Fed’s interest rate decisions and NCAA basketball tournaments, with plans to expand into other political, economic, and cultural events.

This is a massive win for Kalshi, the CFTC-regulated exchange providing the backend, as it instantly gets access to Robinhood’s 25M+ user base. It also signals that Robinhood is serious about diversifying its offerings beyond stocks and crypto. The market liked it too—Robinhood stock surged 9% on the news.

But the real question is, will Robinhood stick with Kalshi long term, or will it eventually spin up its own prediction markets? Also, how will this impact sports betting giants like DraftKings and FanDuel? A platform like Robinhood—already trusted for financial speculation—could eat into their market share over time.

Prediction markets aren’t just about gambling—they’re the future of information. When properly structured, they create the most accurate real-time forecasts on any event. The launch of Robinhood’s hub is just the beginning of what could be a seismic shift in how people trade on knowledge.

⌐◪-◪ → WLFI just pulled off one of the biggest token sales ever.

World Liberty Financial (WLFI) has officially completed its second token sale, raising $550 million and cementing its position as a major force in DeFi.

Since launching in October 2024, WLFI has successfully conducted two rounds of token sales, bringing in a total of $590 million. With over 85,000 KYC-verified participants, it ranks among the top token sales of all time.

WLFI is rapidly building key relationships across the industry, partnering with Ondo Finance, Ethena, Chainlink, Sui, and Aave, while also assembling a strategic reserve of top crypto assets, including BTC, ETH, TRX, LINK, SUI, and ONDO.

Co-founder Zak Witkoff emphasized that this is just the beginning:

"This milestone proves that those who truly understand crypto and finance recognize what we’re building—WLFI is on track to supercharge DeFi as it transforms global finance in the coming years."

WLFI’s mission is clear: to democratize finance at a global scale. With its latest funding success, it now has the firepower to make that vision a reality.

Exciting times ahead—stay tuned.

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