Observations:
Solend whale has finally been contacted and the position has been partially moved to another protocol. Has transferred $25M of its debt to Mango markets relieving Solend from suffering the full brunt of a possible forced liquidation. However the trading position and its potential liquidation remains active - source - 2nd
BlockFi secures $250M revolving credit facility from FTX providing access to capital that further bolsters balance sheet and platform strength. SBF previously stated he might intervene this way - source - 2nd
Convex limited liquidity with imminent unlock on June 30. About 27.4M CVX coins, over a quarter of the supply, worth over $126M will be unlocked - source
The Ethereum Sepolia testnet Beacon Chain has gone live, the next merge dress rehearsal to give Ethereum network developers valuable technical insights. Upon merging with its dedicated Beacon Chain, the Sepolia testnet will begin reaching consensus using PoS rather than PoW - source
Magic Eden, the leading Solana-based NFT marketplace, has raised $130M at a $1.6B valuation and plans to expand to other platforms - source
Plus more. We’ve had a ton of carnage recently. Time for a bounce or will the brutal crab and downtrend continue? Stay tuned, folks.
- 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:
ZigZag DEX to sell governance tokens. Those who buy ZigZag's governance tokens in an initial sale will decide the requirements for its upcoming airdrop. Ticker ZZ. Sale on its exchange on June 24. Offering 2 million tokens out of a total supply of 100 million tokens - source - 2nd
Maple finance said beginning week commencing 06/20/22, there may be instances where there is insufficient cash in pools, and Lenders must wait for Borrower repayments - source
The U.K government will not implement its proposed version of a controversial rule requiring all senders of funds to private crypto wallets to collect identification details of recipients - source
Cardano's development lab, Input Output, did not push out June 20’s planned "Vasil" hard fork, a network upgrade that would increase scaling capabilities on Cardano, citing technical bugs. Pushed to the last week of June. - source
Solend publishes SLND3 proposal: Proposes to introduce a per-account borrow limit of $50M, Any debt above this limit will be eligible for liquidation. Temporarily reduce the maximum liquidation close factor from 20% to 1%. Temporarily reduce the liquidation penalty for SOL from 5% to 2% - source
Shell, Accenture and Amex announce the launch of Avelia, one of the world’s first blockchain-powered digital sustainable aviation fuel SAF book-and-claim solutions for business travel - source
Timeless launches on Ethereum Mainnet - enables you to boost your yield from any supported farm, speculate on yield rates, and hedge your yield against rate drops - source
FTX US is acquiring equities clearing firm Embed Financial in a move to enhance its newly-launched stocks trading offering - source
The recent crypto market crash has seen once unobtainable graphics cards come back into stock, at affordable prices as mining profitability plummets - source
KuCoin to support Brazilian Real trading pairs on its spot market. The platform added BTC/BRL, ETH/BRL and USDT/BRL trading pairs to its spot market - source
Huobi exchange wins licenses in Dubai and New Zealand. Recently Thai affiliate closed - source
Bitpanda received registration as a virtual currency exchange and digital asset custody service provider in Spain - source
Perpetual Protocol is moving away from the old staking model to a new vote-escrowed token (veToken) model - source
Introducing PsyFinance v2 - a new and improved protocol with an overhauled UI that’s focused on improving capital efficiency, and transparency - source
Scallop, a fintech decentralized ecosystem, has announced the launch of the beta phase of its global cryptocurrency exchange Scallop CEX - source
EMDX is now live on the Avalanche mainnet. Start trading BTC/USDC, ETH/USDC and AVAX/USDC perpetual swaps pairs now - source
Introducing Oasis Earn - curated DeFi-products that easily put your deposits in a position to earn a yield. A full self-custody solution for entering and exiting yield positions - source
NFTs/Metaverse:
Bored Ape Yacht Club announced its 2nd collaboration with Rolling Stone during the Ape Fest 2022. The limited-edition Rolling Stone collectibles will include two 1/1 BAYC and MAYC NFTs, along with physical art prints - source
MoonPay is partnering with Universal Pictures, Fox Corporation and Snoop Dogg’s Death Row Records, among other brands, to launch a new NFT platform called HyperMint - source
TIME news magazine is partnering with The Sandbox to build ‘TIME Square’ in the metaverse - source
Snoop Dogg has filed trademark applications for an online retail store featuring virtual goods and NFTs - source
Chinese instant messaging app, WeChat, outlaws all cryptocurrency-related activities and NFT - source
Luxury brand Burberry has unveiled its second NFT collection with Mythical Games in its flagship title, Blankos Block Party - source
Raises:
Magic Eden, the leading Solana-based NFT marketplace, has raised $130M at a $1.6B valuation and plans to expand to other platforms - source
Community-as-a-service startup, Afropolitan has raised $2.1M in pre-seed round - source
Chain game platform MetaOne raises $2M in private financing - source
Multi-currency perpetual swaps protocol Increment raises $1.56M seed round led by ParaFi Capital - source
BinanceLabs announced a strategic investment in OpenLeverage, one of the 14 projects of Binance Labs Incubation Program Season 4 - source
Recent private fundraising events - source
Data:
Fear & Greed Index: 9
24H Gainers:
Strong bounce for WAVES, SHIB, TITAN, ZIL, UNI
24H Losers:
APE is down while most coins are green
DeFi TVL Change:
Up 3.45%. It’s been a ruff journey down
Blockchains by NFT Sales Volume (24 hours):
Ethereum down 20.09% and Solana down 7.34%. Roughly 4x volume on Eth vs Solana but almost 2x the Buyers on Solana vs Eth
NFT Collection Rankings by Sales Volume (24 hours):
CryptoPunks down 52.76%, BAYC down 43.53%. Azuki strong jump with 187.59% increase
Nansen:
+$2M of smart money inflow into DYDX and -$329k outflow from APE
Unlocks:
New Listings:
Binance.US will list Internet Computer (ICP) on June 21st - source
Huobi Global will list Lido (LDO) on June 21st - source
Coinbase will list DeFi Yield Protocol (DYP), AlephIm (ALEPH), HOPR (HOPR), Math (MATH), PARSIQ (PRQ), and Elastos (ELA) - source
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