Observations:
So I've decided to switch my daily grimoire post into a weekly one. A weekly version will give me more time to reflect on things, weekly data will be more relevant than daily and I'll have more time to work on new things. I'm not going anywhere - still gonna be grinding.
I'll still post observations, insightful and/or helpful things on twitter.
For example, the world’s largest non-exchange Bitcoin whale dumped 46,000 BTC from July 18-20 worth $1B. After the transactions, the whale has a balance of 71,381.898 BTC. Interdasting
Lastly, if you're deep in the trenches and don't want to do it all alone, I have a discord group with some solid people in it. We keep eyes on the market together, share alpha and all that. Yes, free
DM me if you'd like an invite. Always interested in having more good people in there.
Reach out to me on tweeter
- 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:
Launch of Polygon zkEVM, which is said to be the "First" Ethereum-compatible scaling solution that uses the cryptographic method called zero-knowledge proofs.Polygon zkEVM's key promises include a significant reduction of current layer-1 Ethereum network costs-about 90%, by the team's estimate-as well as a dramatic increase in throughput capability, all while inheriting the security of the Ethereum blockchain. Network, the Polygon co-founder noted that while Ethereum fees are unlikely to change substantially even after the merge event, "ZkEVM stands to reduce network fees by 90% and even more in future iterations." zkEVM is expected to be deployed on the public testnet later this summer, with the mainnet launch slated for early 2023 - source - 2nd - 3rd
Pyth Network, a next generation oracle solution, announced a new data-sharing partnership with Huobi Global - source
zkSync 2.0 – the first zkEVM rollup – will be live on mainnet in 100 days - source
3AC $10b figure was a gross overestimation of peak AUM. Their NAV was around $3b at end Dec 2021 and $2.38b at May 13 2022. There isn't any market opportunity for a 3b fund to 3x from Dec 2021 to May 2022 and back down - source
A panel of experts expect ethereum to fall to $675 before ending the year at $1,711 and rising to $5,739 by 2025 and $14,412 by 2030 - source
Active wallets on the Solana network grew 58% this year, outpacing some other blockchains despite a market-wide price decline. TVL on DeF apps running on Solana dropped to $2.9B from May’s $6B. Solana TVL peaked at $14B in December 2021 - source
Vauld owes retail investors $363M out of its total liabilities of $402M after halting withdrawals - source
The world’s largest non-exchange Bitcoin whale has sold 15,500 BTC ($350M) - source
Celsius Lays Out Mining-Focused Reorganization Plan at First Bankruptcy Hearing - source
Binance.US Starts Affiliate Marketing Program as rival exchange Coinbase is suspending its affiliate program - source
FTX's Bankman-Fried Says It’s Worth Losing Money to Prop Up Crypto Industry - source
Southeast Asian crypto exchange Zipmex announced its halting withdrawals until further notice - source
Vyper, a popular Ethereum programming language, is now supported on zkSync 2.0 testnet - source
World’s first on-chain atomic matching engine. Econia’s v1 CLOB prototype is now live on the Aptos devnet - source
Synthetix: sUSD bridge is now live. Users can now move sUSD to/from Optimism to Ethereum Mainnet - source
Figment says it will pass on MEV rewards to its delegators on Ethereum 2.0 to ensure increased staking yield. The crypto staking platform says it will leverage Flashbots’ MEV boost - source
French Bank BNP Paribas is reportedly partnering with crypto infrastructure firm Metaco to custody crypto - source
Ethereum Name Service collector buys sony.eth ENS for $72,000 - source
Swing has opened its platform for Web3 developers with API & SDK for dApps - source
Texas Bitcoin Miners Power Back Up after Voluntary Suspension During Grid Strain. Aiming to prioritize vital services during a heat wave, Bitcoin miners stood down for more than a week at the state's request - source
Binance Labs: Official list of MVBV Incubation Program participants - source
PeckShield has detected Raccoon Network and Freedom Protocol are scam - source
YAM Replanted: A Fresh Start - source
Capx has partnered with SubQuery to deploy DApps on Polkadot & Kusama. Through this partnership, SubQuery will be used in multiple ways to provide insights for Capx dApps to monitor and observe blockchain activity for both Polkadot and Kusama ecosystems - source
Decentralized infrastructure project Human Protocol said it was launching a new blockchain coordination layer to handle routing functionality among third-party vendors to power data contribution on the network - source
New York-based crypto trading platform Gemini claims to be the first one to get registered as a virtual asset service provider by the Central Bank of Ireland - source
Earlier this year, zkSync announced the launch of its EVM-compatible ZK-Rollup on a public testnet - source
NFTs/Metaverse:
Binance NFT Launches “Mystery by Franck Muller” Mystery Box Collection - source
The Office of Government Ethics, which oversees the executive branch, released new guidance for public financial disclosure filers who own NFTs. Filers should report NFTs that are worth more than $1,000 or have generated over $200 in investment income. Filers do not need to report assets that are not held for investment or production income, and instead are held for personal, family or household use - source
Meta partners with digital fashion startup DressX to launch virtual clothes - source
How China Threatens to Splinter the Metaverse. In the future, the metaverse could be split into two: China and the rest of the world - source
GameStop’s NFT marketplace is proving to be an early hit, doing over 5,000 ETH (around $7.2M) in trading volume since its launch on July 11, more than doubling competitor Coinbase’s all-time NFT volume. GameStop’s success comes despite its 2.25% marketplace fee, while Coinbase continues to offer zero-fee trading to attract new users. In May, GameStop launched its own crypto and NFT dedicated wallet, which briefly pumped its stock price. The company is also sitting on a $100M gaming fund it announced in partnership with Immutable X - source
China's largest internet company Tencent's NFT platform, Huan He, has announced its closure. The platform is unprofitable because the Chinese government does not allow transactions in the NFT secondary market - source
The Sandbox Brings on Security Firm BrandShield to Prevent Rising NFT Frauds. BrandShield has removed 120 phishing sites and 58 fake social media accounts in two months since its launch - source
Raises:
Blockchain security firm Halborn has raised $90M - source
Zebedee has raised another $35M to power in-game payments via the Lightning Network. Final Fantasy publisher Square Enix is one of the startup’s new backers - source
Crypto asset manager Valkyrie looks to raise $30M for its new VC arm - source
Tribe Capital Raises $25M to launch crypto incubator program - source
NFT authentication company Optic has completed an $11M seed funding round led by early-stage VC fund Kleiner Perkins and Pantera Capital - source
Veremark Raises $8.5M. Veremark’s software lets companies run background research on potential hires. It then creates a “career passport” that stores job credentials on the blockchain - source
Web3 security auditing ecosystem Secure3 raised $5M in a seed round led by Mirana Ventures - source
Fedi Inc. has closed a $4.2M seed round to fund development of the Fedi mobile app built on the Bitcoin custody protocol Fedimint - source
Umami, a privacy-focused, open-source, lightweight Google Analytics alternative, Raises $1.5M - source
Brixie Group Raises $500K. Brixie’s easy-to-use and highly secure platform allows its users to tokenize real estate assets from countries worldwide with its first assets under management to be located in Cambodia, Africa, Malaysia, Indonesia, UK, Czech Republic, Colombia, Brazil, Australia and Spain. - source
veToken Finance completes seed funding to build infrastructure layer for veModel projects - source
P2E AI fitness platform FitR has closed a seed fundraising round. Amount raised is not disclosed. Avatar Ventures, KuCoin Ventures and HashKey Capital are among investors - source
Hulk Labs has completed a strategic financing round. Hulk Labs is a Tokens.com subsidiary focused on developing the emerging play-to earn Web3 gaming sector - source
New Listings:
XETA is now listed on Huobi, OKX, Gate and ByBit - source
Research:
The Current Landscape of Soulbound Tokens - source
Introducing Bond Protocol - the next evolution of bonds-as-a-service from OlympusDAO - source
Across’ Referral Program Is Now Live & Farm $ACX Tokens - source
dYdX, GMX, GainsNetwork compared - source
120 investment announcements and $28.8B value raised in the first half of 2022 - source
Fantom Foundation Research on Client Performance - source
How LayerZero enables cross-chain communication - source
Modular blockchains in layman’s terms - source
Y2K Finance: flagship product, Earthquake - source
Y2K Finance thread. Y2K Token Its main use cases will be:- Fee Revenue - veY2K: Emissions allocating + Revenue Boosting - Governance and Bribery - source
“Stablecoin trilemma” : 1. Decentralization, 2. Capital efficiency, 3. Price stability - source
Deconstructing DeFi Returns: Harvesting Risk Premia - source
Rage Trade omnichain perps protocol aims to solve deep liquidity problems via its novel "recycled liquidity" mechanism - source
Coinbase Institutional Insights: Our Approach to Crypto Financing - source
The state of Arbitrum - source
Twitter:
Master thread for newbies and journeymen alike - everything you need to know to avoid getting scammed - source
17 things that every community manager needs to know - source
250+ projects across different NFT verticals - source
Intern notes from on the Ethereum Merge as the next major crypto narrative - source
"I'm not going anywhere - still gonna be grinding. "
Theo, I want an invite to your discord group. In order to keep your eyes on the market and share! Regards, Climaco Henry Franco Mendez.