An article sorting out the 10 crazy moments of this round of bull market

Author: Michael Wong

Source: Bankless

Looking back now, this past bull market almost looks like a fever dream.

This article compiles some of the craziest things that have happened in the past 18 months.

Can we learn anything from it? Probably not.

Does it make us feel better? Or maybe not.

Anyway, something crazy happened.

Let's recap together.

Raising $40 million to buy the U.S. Constitution

How bored were we?

Normally, when a significant portion of the market doesn't know what to do with the money they make, you should probably be out.

Instead, I, along with many of you, threw precious ETH over a ridiculous thing: Thousands of strangers on the Internet going to buy a copy of the US Constitution.

The bidding was fierce, with hedge fund Citadel founder Ken Griffin winning the auction for $43.2 million.

Tai Lopez Acquires Radioshack to Promote DeFi Scams

Seemingly a bull market game, Tai Lopez entered the encryption field by counterfeiting Uniswap.

As the new owner of RadioShack (through bankruptcy), Lopez parasitized the RadioShack brand to peddle fake DeFi products.

Richerd rejects $10 million (2500 ETH) JPEG bid

Now, I'm too poor to criticize the way rich people spend their money.

I'll point out that when people write columns about rejecting a $10m offer for a JPEG, it's even worse - and someone in the comments agrees - that it might be an opportune time to at least consider starting an exit plan .

Elon Musk joins the chat

Buying bitcoin, accepting bitcoin as payment for Tesla, Saturday Night Live, pumping up Dogecoin price.

Now, I don't even know if all this is true.

Elon Musk's sudden foray into the crypto space was exciting but ultimately disappointing.

As a fake operation in the bull market era, Elon Musk quickly connected the hot Tesla with the hot Bitcoin. Of course, he also used his influence to push up Dogecoin to satisfy himself.

Now is the time we should sell it all:

Su Zhu Shares Advice on Buying a Castle

We have a lot to say about this man, most of which have already been pretty much analyzed on Twitter.

I would like to point out that the funniest moment in retrospect was when Su Zhu gave advice to castle buyers in response to a Robert Leshner joke.

While he admits he's no castle expert, he does have a good idea or two for long-term settlements.

Unfortunately, he will not be able to live comfortably in a castle or yacht for a while.

Loot, txt mania

When Dom released Loot on one fateful summer night, the entire NFT space reached frenzy.

List of in-game properties and items. free mint. That's it. This is Loot.

So how on earth did we create 500 free mint Loot derivative projects in a week?

This shows the strength behind the concept of Loot initiated by Dom, and likewise represents the opportunism and hype that fueled multiple ups and downs in the crypto market.

There was even a Loot economy-derived token called Adventure Gold, whose market capitalization at one point exceeded $300 million.

ETH hashtags on Twitter

Jack never supported Ethereum, ever. Not once.

The ex-Twitter CEO popularized emoji hashtags (like #bitcoin followed by a small orange coin). When TRON had its own label, there were rumors that the privilege could be purchased. Then one morning the #ETH community had its own hashtag too.

But this label does not belong to Ethereum, but refers to Ethiopia.

The Ethereum community responded in large numbers and cheered for Ethiopia at the Olympic Games that were taking place at the time.

Expose Sifu/Dani

DeFi 2.0, I haven't heard the name for a long time.

First, Dani and his gang prepare to spread the "gospel" of their new religion, Wonderland, a lending/stablecoin mechanism designed to bring down Maker.

Dani talks like a visionary (full bullshit) and works with former crypto icon Andre Cronje to create influence for himself.

Before long, the dominoes began to fall.

The main reason for Wonderland's swift downfall was the explosive revelation of its co-founder/partner Sifu, a well-known mega-con who was associated with the recently re-famous Quadriga (in other words, he ran the scam with Gerald Cotten).

Do Kwon tries to kill Dai

But the same cannot be said for Do Kwon.

His attempt would prove to be a Madoffian disastrous failure.

Truth be told, part of this is because Do Kwon specifically targeted Bankless team members in his megalomaniac crusade to kill DAI.

In the end, Luna, UST, and Terra fell into a death spiral, and many well-known investors, not to mention tens of thousands of innocent retail investors, were in dire straits.

This is an important punctuation mark of one of the craziest bull markets.

Bukele reveals buying Bitcoin for El Salvador in Twitter Spaces

At the height of the Retineye movement sits my core memory. On the plane home, I saw the President of El Salvador’s frenzied tweet about making Bitcoin legal tender in the country.

He then joined a Twitter Space hosted by Nic Carter on the congressional floor to talk about the issue live.

One of the coolest, craziest, most memorable experiences in crypto is also indicative of bull market hype and its contagious energy.

What have we learned?

Probably nothing.

But, at least, this bull market memory can remind us that we should be more cautious during the market operation.