Observations:
Aave coming out with another stablecoin, along with everyone and their grandmother. New KeyFi lawsuit shows more of Celsius’ clownery - really goes to show that a lot of the big players were just apes and degens like everyone else. Mt. Gox repayments could be coming in August - triggering concerns. Blockchain .com $270M hit on loans to 3AC - more casualties coming out of the woodwork. TON $90M ecosystem fund - this one is curious, telegram. Teller coming out with a buy now, pay later service for NFTs - hmm.
Plus more. Inflation still a hot topic - probability of the Fed raising interest rates by 75 bps in July has increased to 93.9%. Another day with millions of dollars being raised, new protocols doing their thing, a variety of NFT announcements, NFT people doing NFT people things, and all the while we wait to see if Bitcoin can hold the 20k level. Feels like sentiment is switching with forced sellers maybe done for now? Anyhoo. All we can do is make our plans and stick to them. Have a great weekend.
- 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:
Aave plans to launch an overcollateralized stablecoin called GHO, collateralized with multiple assets of the user’s choice - subject to the community DAO’s approval - source - 2nd
Staking software and investment firm KeyFi Inc. has filed a complaint against lending firm Celsius, alleging the company had been operating in a Ponzi style fashion and that it failed to honor a profit-sharing agreement worth millions of dollars - source
Cryptocurrency mixer Tornado Cash has fully open-sourced its user interface code, move towards mandate of complete decentralization and transparency - source
Mt. Gox exchange could begin to repay its creditors in August, with some compensated directly in Bitcoin - source
The FDIC is probing Voyager for allegedly misleading customers, marketing that all depositors in the firm were covered by FDIC insurance through its partnership with Metropolitan Commercial Bank, Voyager’s banking partner - source
Transparency update from GenesisTrading - source
MakerDAO has passed a vote to create a DAI vault for US-based Huntingdon Valley Bank. At launch the vault will have a debt ceiling of $100M, which will later be raised to $1B - source
Crypto Exchange Blockchain.com Faces $270M Hit on Loans to Three Arrows Capital - source
The probability of the Fed raising interest rates by 75 bps in July has increased to 93.9% - source
KuCoin now serves more than 18 million users worldwide. During the first half of 2022 gained 9.75 million new registered users, a 219% increase from the first half of 2021 - source
Binance's Spanish subsidiary approved to operate as crypto service provider - source
Introducing Circle Ventures - goal to support companies & their leaders, & help accelerate their development & contributions - source
Polkadot’s Governance v2 will remove Polkadot Council and Technical Committee, and will allow unlimited referenda - source
Bitcoin mining company Compass announced 15% layoffs and reduced compensation for executives of up to 50% - source
TRON DAO Reserve has increased $445M USDC supply on TRON. Currently USDC supply on TRON has reached $3.3B - source
Introducing Nexon: Transparent Lending protocol on zkSync - source
Rage trade, the first liquid, composable, and omnichain ETH Perp Swap - source
Arable Protocol live - source
NFTs/Metaverse:
DeFi lending platform Teller has launched a buy now, pay later service for NFTs. The Polygon-based Ape Now, Pay Later service supports 10 notable NFT projects at launch - source
Revuto launches NFT offering lifetime subscriptions to Netflix and Spotify - source
NFT startups have been hiring full-time ‘vibe managers’ to lift the mood amid crypto collapse - source
The 2nd NFT drop from the GUCCI x SuperRare The Next 100 Years of Gucci has just gone live featuring a selection of NFT artworks, each a collectible fragment of Gucci’s kaleidoscope heritage - source
Johnny Depp has donated the proceeds (nearly $800k) from an NFT sale to four charities, including the Children’s Hospital of Los Angeles - source
NFT Technologies Inc., a leading technology company mainstreaming decentralized ownership, NFTs and the metaverse for public markets, has entered into a definitive agreement for the acquisition of Run It Wild, a multidisciplinary blockchain, metaverse and NFT development studio - source
Raises:
TON Foundation has raised $90M to launch a new ecosystem fund - source
Hidden Road $50M Series A round led by Castle Island Ventures - source
Crypto options and futures exchange Thalex closes $7.5M Series A funding round - source
FlexiDAO Raises $6.1M from Google, Microsoft Climate Innovation Fund, and existing investor EIT InnoEnergy - source
Metag3ncy Raises $4M to to become one of the most comprehensive NFT and Web3 project management companies in the space - source
Genopets receives investment from Samsung Next - source
Ambrus Studio valuation of $65M after 1st round of funding - source
Recent private fundraising events - source
New Listings:
Research:
Token Design for Serious People - source
State of Uniswap Q2 2022 - source
Rollups as Sovereign Chains - source
Blockchain bridge security guide - source
Aptos - source
Data:
From: CoinGecko, DefiLlama, DappRadar, CryptoSlam, TokenTerminal, Nansen
Bitcoin: $21,313.60, up 3.3% (24H)
Ethereum: $1,204.17, up 0.1% (24H)
Crypto Market Cap: $980B, up 1.4% (24H)
Total Crypto Trading Volume: $86.2B
24H Highest Volume Coins: USDT, BTC, ETH, BUSD, USDC, XRP, SOL, BNB, ADA, MATIC
24H Lowest Volume Coins: cUSDC, cETH, cDAI, XRD, HBTC, OMI, 10SET, LEO, GT, EVMOS
BTC Dominance: 42.02%
BTC Longs: 54.11%
BTC Shorts: 45.89%
Fear & Greed Index: 20, Extreme Fear
DefiLlama DeFi TVL Change: $77.43B, up 0.22% (24H)
Token Terminal Total Revenue: (24H)
Ethereum: up 21.9% with $4.9M revenue
Uniswap: down 25.9% with $1.2M revenue
ENS: down
26.6% with $193.4k revenue
Synthetix: down 62.1% with $176.8k revenue
Nansen Smart Money Token Inflow and Outflows:
Inflow: YGG ($364k), APE ($218k), LOOKS ($126k), JPEG ($109k), STG ($84k)
Outflow: WNCG ($257k), BNS ($30k), RADAR ($21k), DYDX ($20k), VEGA ($15k)
CryptoSlam Blockchains by NFT Sales Volume (24H):
Ethereum: up 6.16% with $16.42M in sales
Solana: up 25.7% with $2.45M in sales
DappRadar NFT Collection Rankings by Volume (24H):
MAYC: up 134.22% with $1.76M volume
ImmortalPlayerCharacter: up 167.35% with $1.4M volume
The Possessed: up 456.09% with $1.23M volume
DappRadar NFT Marketplaces Volume: (24H)
*excludes washtrading*
OpenSea: up 28.46% with $19.24M volume
Magic Eden: down 2.24% with $2.33M volume
X2Y2: down 10.19% with $1.99M volume
LooksRare: up 62.79% with $1.45M volume
Nansen Hot NFT Contracts (24H):
Zenogakki: 1335 ETH volume
MAYC: 1116 ETH volume
BAYC: 1025 ETH volume
Nansen NFT Smart Buys (24H):
WAGMI ARMY: 9 Smart Buyers with 5.74 ETH volume
ImmortalPlayerCharacter: 7 Smart Buyers with 23 ETH volume
Dirt Birds: 3 Smart Buyers with 4.43 ETH volume
BALUBA: 2 Smart Buyers with 7.12 ETH volume
Nansen NFT Smart Sells (24H):
CTNFT: 31 Smart Sellers with 1.02 ETH volume
Just Mallards: 28 Smart Sellers with .5497 ETH volume
Moondust: 15 Smart Sellers with .3896 ETH volume
Nansen NFT Smart Mints (24H):
CTNFT: 97 Smart Minters with .7449 ETH volume
Timbears: 97 Smart Minters with .6855 ETH volume
Just Mallards: 88 Smart Minters with .4796 ETH volume
Unlocks:
ALBT, FIDA, UMEE
Vestlab - source
Coinowl - source
July Unlocks - source
Reach out to me on tweeter