Observations:
Another day in the insolvency saga. Celsius lawyers are said to be advocating for Chapter 11 bankruptcy while executives at the firm believe many of its clients would prefer Celsius to avoid lengthy bankruptcy proceedings. Celsius also denies all allegations that its CEO attempted to flee the country. To deal with its own insolvency issues, CoinFLEX is launching a $47M recovery token. Recent issues have been due to an outstanding debt that a high-net-worth customer owes the exchange (said to be Roger Ver, although he denied it). Interesting to know more hedge funds have short positions against tether. Recall that Fir Tree Capital shorted Tether back in March and expected to generate a profit within 12 months. The Ronin Bridge officially reopened, it will be interesting to see how that goes. Harmony bridge exploited funds are currently being tornado’d. HTC is launching its own metaverse "Viverse" phone, just days after the announcement of the Solana mobile phone. Reasonable to expect more mobile friendly approaches along this trend. Today was also another heavy day in funding. Markets are still looking crabby and sentiment feels meh for now. These violent delights have violents ends.
- Time moves differently in crypto. Crypto is an intricate game filled with various players operating across multiple time frames and with varying agendas. Day in, day out, the pieces are moving all across the board. Sometimes for the better and sometimes for the worse. Here’s a small glimpse of what has happened so far today in our little crypto bubble -
Crypto:
Physical futures crypto exchange CoinFLEX to launch a $47M recovery token to solve withdrawal issues due to an outstanding debt that a high-net-worth customer owes the exchange. Includes a 20% APR accrued and paid daily in rvUSD. The individual is said to be Roger Ver, although he denied- source - 2nd - 3rd - 4th
The final $TON was mined in the early hours of June 28, signaling toncoin's transition from a largely PoW model to PoS. New toncoins will only enter circulation by PoS validation, resulting in a roughly 75% decrease entering the network to 200,000 daily - source
In the past month, a growing number of hedge funds have opened USDT short positions, worth hundreds of millions of dollars, with Genesis Global Trading, a leading crypto brokerage for professional investors. Tether CTO responded, called it a coordinated attack - source
Cryptocurrency exchange Huobi will start layoffs, which may exceed 30% due to the sharp drop in revenue after the removal of all Chinese users - source
$100M Harmony Bridge hacker begins laundering via Tornado Cash - moved over 36,000 ETH ~ $44M. Ignores 1% whitehat bounty - source
Arbitrum Odyssey: Week 2 - source
MakerDAO is currently voting on how to allocate 500M DAI ($500M) of treasury funds into investments in US treasury bills and bonds - source
Goldman Sachs downgrades Coinbase to sell rating - source
Brazilian unicorn CloudWalk launches its own blockchain, previously raised $150M and reached a market valuation of $2.15B - source
Clampdown and unclear policy prompt WazirX crypto exchange founders to leave India and move to Dubai - source
Astar Network (ASTR) announces the Grand Finale of DOT Fest with 3M $ASTR rewards - source
Terra 2.0 is now live on Wormhole - source
Binance Labs Incubation Program Application - Season 5 - source
Solend followup - It was Binance that stepped in and contacted the whale at risk of liquidation - source
Messari Fund Analysis H1'22: Polkadot is once again the most commonly held asset of the 82 crypto funds tracked. Followed by OasisProtocol, Nervos Network, dYdX and radicle tied for fourth, and NEARProtocol - source
Smart Domain Platform Web23 to Launch Tokenized DNS Services on Hedera, Supported by The HBAR Foundation - source
Cardano Completes Final Node in Preparation for Vasil Mainnet Upgrade - source
Crypto.com announced Monday that it is removing 15 cryptocurrencies from its Crypto Earn rewards program. DOGE, SHIB, XTZ, and FLOW are among those being removed and adding ZIL, FTM and NEAR - source
Introducing Avalon, A powerful, upgraded version of the Lyra protocol on Optimism - source
SQT Public Sale Announcement - will launch on Tokensoft - source
Official MOVN Whitepaper - move-to-earn web3 platform, the MOVN Superapp of Sports - source
FTX will host CRIPCO token sale on July 8th - source
Introducing Neutron - the most secure permission-less smart contract platform for Interchain Finance - source
NFTs/Metaverse:
Smartphone manufacturer HTC has launched its first "Viverse" phone, designed to be compatible with its metaverse platform and incorporating crypto and NFT functionality. Comes with built in crypto wallet for Ethereum and Polygon-based assets- source
Alternative investment firm Accelerate Financial Technologies is starting an NFT fund in a bid to capitalize on longer-term growth in the Web 3 ecosystem - source
Landindex, the Metaverse Land Data Aggregation and Analysis App is Available on IOS and Android - source
BAYC restaurant Bored and Hungry Fake news: Still and always will accept ETH & ApeCoin at store - source
Catalonia is building its own metaverse, says innovation minister. The government is hoping to make Barcelona a digital hub by offering various skills programs to university students and boot camps to cultivate talent - source
Doodles 2: A Doodle for everyone - source
Raises:
Solana’s most prominent brother-developer duo are launching their own venture capital fund - source
Crypto Exchange Unizen Receives $200M 'Capital Commitment' From Investment Group GEM - source
Fintech Firm PolySign Raises $53M to Expand Staff - source
Crypto data firm Kaiko closes $53M Series B funding round - source
KPMG enters the metaverse, invests $30M in Web3 employee training - source
UK green supply chain startup Circulor raises $25mln for US expansion - source
Zigazoo, a social media network for children, has raised $17M in a Series A fundraise led by Liberty City Ventures - source
A16z leads $7.5M seed round for web3 authentication startup Dynamic - source
A16z Leads $6M Seed Funding Round in Layer 1 Blockchain Linera - source
$6M Seed Round For MECH.COM, an NFT-based metaverse game - source
Web3 Network Peaq Raises $6M Led by Fundamental Labs - source
Omi raises €6M in seed funding for 3D modeling tech - source
Open-world ARPG Stella Fantasy raises $5M led by Animoca Brands - source
RLTY raises over $4M in funding for metaverse event creation tools - source
WE.VESTR raises €2.2M to help founders manage shareholders - source
New Listings:
Binance Futures will launch BUSD-margined WAVES and LINK perpetual contracts with up to 20x leverage - source
Coinbase will add support for Chain (XCN), MetisDAO (METIS), Monavale (MONA), and AirSwap (AST) on the Ethereum network (ERC-20 token) and Media Network (MEDIA) on the Solana network (SPL token) - source
Robinhood has listed Chainlink - source
Data:
Bitcoin: $20,805.42, up 0.1% (24H)
Ethereum: $1,200.55, up 1.2% (24H)
Crypto Market Cap: $980B, a 0.0% change (24H)
Total Crypto Trading Volume: $77.7B
Fear & Greed Index: 10, extreme fear
DeFi TVL Change: $75.74B, down 0.50 % (24H)
24H Highest Volume:
ETC, EOS, FTM, KCS, WAVES, KLAY, BIT
24H Volume Losers:
cETH, cDAI, cUSDC, XRD, HBTC, TITAN, USDN
Nansen Smart Money Token Inflow and Outflows:
Inflow: aSTETH, ZZ, TOKE, VGX, WFLOW
Outflow: cMKR, APE, LOOKS, SNOOP, BNS
Blockchains by NFT Sales Volume (24H): from cryptoslam
Ethereum up 7.37%
Solana up 83.23%
NFT Collection Rankings by Volume (24H): from dapprader
More Loot up 1.9% with $11.9M in volume
Meebits up 480.56% with $11.89M in volume
Dreadfulz up 42.56% with $4.16M in volume
Otherdeed down 34.9% with $2.83M in volume
Terraforms down 57.7% with $1.56M in volume
Nansen NFT Smart Buys (24H) :
Moonturtlez: 6 Smart Buyers with .4738 ETH volume
Gossamer Seed: 5 Smart Buyers with 9.47 ETH volume
Poop Pass: 4 Smart Buyers with .5697 ETH volume
Nansen NFT Smart Sells (24H):
Poop Pass: 21 Smart Sellers with 1.03 ETH volume
BonzAI: 17 Smart Sellers with .2814 ETH volume
MoonRacoons: 13 Smart Sellers with .7227 ETH volume
Nansen NFT Smart Mints (24H):
Grinners: 83 Smart Minters with 1 ETH volume
MoonApeRunners (0x46c): 77 Smart Minters with .4582 ETH volume
GoodBulls: 73 Smart Minters with .4095 ETH volume
Unlocks: CSPR, GMM, LMR, UMEE,
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