Hey, everyone. It's the third week of February. Happy Friday morning, David. What are we doing today?

We're rolling up the third week of February. The crypto world moves so incredibly fast. And so Ryan and I go through a week's worth of news as fast as possible.

We'll get that coffee ready because we're coming as you're hot. Here's what we do. We always talk about the markets. What are the markets saying? Then we get into releases. What got released in the last week?

Then we go into news. What happened in the news cycle? Lastly, we finished up with some ecosystem, ecosystem takes who had some good opinions in the world of crypto in the last week.

And then we finished with what Ryan and David are excited about. And then, of course, the meme of the week. The meme of the week is a new feature. Super excited to get there. It's like the dessert at the end of a fantastic meal. David, are you ready to roll them up? We're rolling it up. Let's do it. All right, David. Before we get into the roll ups, we should tell our audience what a lattice is. These are really cool devices. You've got one sitting over there, right? Yeah. It's a new hardware wallet. It's a different kind of hardware wallet. It's not a mobile one. It's one that kind of feels a little bit similar to your

Amazon Alexa or your Google home. You'll leave it at home. And it's got a big screen for you to digest the transactions that you are about to approve. It's the kind of the new standard in security. And I've been having to find a lot of fun just playing with it. It's pretty cool. Yeah.

Latest wanted us to let you know that they are back in stock for the bankless nation. So we will include a link in the show notes. If you want to pick up a shiny new lattice wallet, they are back in stock. All right, David, you've ready to get to markets. Let's do it.

There's so much is happening in the markets. That's for sure. Always, always and forever. Let's start with the Bitcoin market. What is going on with Bitcoin? Did we just hit another all time? Hi, my friend.

You know, once again, I actually can't remember the last time we've done one of these where crypto hasn't hit all time highs. But yeah, Bitcoin $52,000 crossed the $50,000 mark after flirting with just being under it right after Elon Musk announced the Tesla $1.5 billion purchase of Bitcoin.

Bitcoin shot up to like $48,000 and then it hovered there all of last week. And now this week, we're finally crossed over that $50,000 mark. So congratulations to Bitcoin for breaking $50,000.

That is a milestone 50k per Bitcoin. Pretty impressive. What's ETH doing this week, David?

Ether also breaking all time highs literally as we record, as we speak, Ether is 1933, 19,933 dollars.

I the way this is going, I expected to be higher by the end of this recording. So we will see.

Yeah, by tomorrow morning, when you're listening to this, it may have hit 2K. It may have hit 1800. Who knows? There's a lot of variability here. But it is on a tear. I wouldn't be surprised if we're 2K by tomorrow morning,

when you're listening to this, we will just see. ETH has been an absolute tear as well. So has total locked value in DeFi. It is up again, hitting all time highs. What number is locked in DeFi now?

42 billion dollars locked in DeFi last when we recorded it was right under 40 billion dollars. So in the last week, we've piled on two extra billion locked in DeFi.

And of course, the DPI is up to $430. I remember when we started recording this Ryan, DPI was like a 80 or something when we started doing the weekly roll up. So DPI has been on an absolute tear.

It is down a little bit on the week though, which is interesting. And I think this this kind of reflects in a ratio that we've been tracking on the roll up that it, you know, indicates the seasonality we are in in crypto. And this is the DPI to ETH ratio.

Do you want to talk about this ratio, why it's important and what we're looking at this week?

Yeah, DPI of course is the index for DeFi, the top 10 DeFi assets. And I've been paying attention to the ETH DPI ratio because it's a stronger signal in my opinion than the DPI to US dollar price because, you know, the dollars inflationary, highly inflationary.

And really, Ether and Bitcoin are the new benchmarks. And so especially with Ether and Ethereum, DPI priced versus Ether really indicates how, how risk on people are being how far down the market cap stack people are looking at.

And there was a pretty strong retracement in DPI versus Ether in the last week. And so it hit a, it hit a high of 0.26 DPI per Ether. And now we are down to 0.225.

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