Observations:
Bitcoin had its worst quarter in 11 years, bummer. We continue to see rumors and half truths floating around related to the insolvency saga. BlockFi CEO denied CNBC’s claims that the company is being sold for $25M. Celsius’ lead investor BnkToTheFuture outlined 3 proposals to save Celsius from bankruptcy. Today we’ve got another staking platform, Finblox, raising its daily withdrawal cap to $3,000 with an additional increase to $50,000 planned next week due exposure 3AC. Some important questions we will hopefully get answers to soon: Who all lent money to 3AC? How much money was lent to 3AC vs. how much collateral? What was that collateral? Did 3AC pledge the same collateral multiple times?
Arthur Hayes' latest article goes into the downfall of 3AC and the basic actionable takeaway is that he wants COMP, AAVE, and MKR at much lower levels. "Currently, they still trade too expensively given the near-term outlook for loan demand. With the speculators, large trading houses, and centralized lenders rekt, there is no pool of large organic demand for loans." - source
Lastly for some futuristic news, Siemens and NVIDIA have partnered to enable an industrial metaverse. The goal being to achieve, “photorealistic, physics-based digital twins embedded in the industrial metaverse offer enormous potential to transform our economies and industries by providing a virtual world where people can interact and collaborate to solve real-world problems.” - source
Plus more. There ain't no rest for the wicked but 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:
Celsius’ lead investor BnkToTheFuture has outlined three proposals to save Celsius from bankruptcy. “Proposal #1: A restructuring to relaunch Celsius and allow depositors to benefit from any recovery through financial engineering. Proposal #2: A pool of the most influential whales in Bitcoin to co-invest with the community. Proposal #3: An operational plan that allows a new entity and team to rebuild and make depositors whole.” - source
Blockchain.com and Deribit confirmed that they are among creditors that sought for the liquidation of 3AC at a court in the British Virgin Islands - source
Staking platform Finblox raised its daily withdrawal cap to $3,000 with an additional increase to $50,000 planned next week. 2 weeks ago imposed a $1,500 limit as a result of its exposure to hedge fund 3AC. Seeking legal counsel on recovery of funds - source
Hackers hijack Ankr gateway for Polygon and Fantom networks - source
Huobi founder Li Lin is looking to sell his stake in Huobi. Li Lin currently holds more than 50% of the shares - source
EU reaches agreement on final landmark crypto regulation. Finalized version not yet public - source
Bitcoin worst quarter in 11 years - source
Sepolia testnet will do a dress rehearsal of the Merge over the next few days, marking the second of three public testnets to do so - source
MakerDAO, the lending protocol behind the DAI stablecoin, have rejected a series of proposals that would have seen the protocol’s governance structure become more centralized. The 3 proposals appeared to have stirred the pot, with MakerDAO noting that they witnessed the largest amount of governance voting activity to date - source
Quixotic, the largest NFT platform in the Optimism ecosystem, was exploited - source
Polkadot ecosystem will soon have a parachain dedicated to decentralized social media named “Frequency” - source
El Salvador bought 80 additional bitcoin earlier today at a price of $19,000 - source
Coinbase clarified that the crypto exchange was not selling its users’ data and highlighted that it only provides information for investigations of financial crimes - source
STEPN’s DEX Surpasses Orca to Become Largest Decentralized Exchange on Solana - source
Tezos has successfully completed its 10th forkless network upgrade called Jakarta 2. Introduces Rollups and Tickets for Massive New Scalability - source
VanEck files new application for spot Bitcoin ETF - source
Rocket Pool - The Merge & Redstone - source
MetisDAO Foundation 2nd Half Year Roadmap 2022 - source
Wonderland passes vote to invest $25M in Sifu Vision - source
Aptos Incentivized Testnet 2 - source
Arweave Name System (ArNS) is now live - source
Interest Rate Swap Protocol Voltz Onboards Lido and Rocket - source
NFTs/Metaverse:
Facebook will support NFTs with a digital collectibles tab on creators’ timelines. Will allow cross-posting with Instagram. Starting with Ethereum and Polygon NFTs but will soon add support for NFTs on Solana and Flow - source - 2nd
Hundreds of Bored Ape owners have signed up to a new NFT licensing marketplace that enables hodlers to rent out their Ape’s IP to brands. Blockchain accelerator Mouse Belt Labs launched the marketplace called “Boredjobs” claiming that it will list all 10,000 BAYC NFTs on its website for brands to browse through and “indicate interest in hiring for campaigns.” - source
Siemens and NVIDIA partner to enable industrial metaverse. Companies will connect NVIDIA Omniverse and Siemens Xcelerator platforms to enable full-fidelity digital twins and connect software-defined AI systems from edge to cloud - source
STEPN Realm 3 and the new APE Sneaker drop. BAYC holders can mint an OG APE Shoebox for FREE on STEPN’s upcoming new website - source
A developer of the Baller Ape NFT was charged by the U.S. Department of Justice for allegedly stealing $2.6M in a rug pull. Also an additional 3 crypto-related criminal - source
Razer, a well-known gaming hardware company, announced a partnership with Shrapnel, the world’s first moddable AAA FPS game built with blockchain technology - source
New Ethereum token standard ERC-4907 paves way for rentable NFTs - source
Raises:
Mona 14.6M Series A round - source
Ethereum scaling project AltLayer raises $7.2M in seed funding - source
MagicSquare $3M seed fund from Binance Labs - source
HEAT $2.6M Seed Round - source
DeFi protocol Altitude $2․1m funding round - source
New Listings:
Binance Will Delist GRS, NAS and GO - source
Data:
From: CoinGecko, DefiLlama, DappRadar, CryptoSlam, TokenTerminal, Nansen
Bitcoin: $19,328.38, up 1.5% (24H)
Ethereum: $1,048.05, up 2.8% (24H)
Crypto Market Cap: $907B, up 1.6% (24H)
Total Crypto Trading Volume: $100B
24H Highest Volume Coins: USDT, BTC, ETH, BUSD, USDC, SOL, XRP, BNB, ADA, MATIC
24H Lowest Volume Coins: cETH, cDAI, cUSDC, XRD, OMI, EVMOS, HBTC, 10SET, GT, LEO
BTC Dominance: 41.22%
BTC Longs: 47.89%
BTC Shorts: 52.11%
Fear & Greed Index: 11, Extreme Fear
DefiLlama DeFi TVL Change: $71.87B, down 1.31% (24H)
Token Terminal Total Revenue: (24H)
Ethereum: down 9.1% with $5.0M revenue
Uniswap: up 18.4% with $1.7M revenue
Convex Finance: up 527.8% with $2.5M revenue
dYdX: up 45.4% with $489.2k revenue
Nansen Smart Money Token Inflow and Outflows:
Inflow: T, GAL, aSTETH, xDG, SDL
Outflow: IMX, ANGLE, dSNX, DG, APE
CryptoSlam Blockchains by NFT Sales Volume (24H):
Ethereum: down 7.65% with $10,150,034 in sales
Solana: up 119.93% with $5,191,334 in sales
DappRadar NFT Collection Rankings by Volume (24H):
Dementorstown.wtf: up 808.6% with $3.65M in volume
The Possessed: up 81,424.64% with $2.98M in volume
More Loot: up 660.06% with $1.52M in volume
DappRadar NFT Marketplaces Volume: (24H) *excludes washtrading*
OpenSea: down 11.83% with $16.43M in volume
X2Y2: up 112.47% with $6.42M in volume
Magic Eden: up 16.48% with $1.32M in volume
LooksRare: up 3.41% with $567.09k in volume
Nansen Hot NFT Contracts (24H):
The Possessed: 4381 ETH volume
BAYC: 1175 ETH volume
Otherdeed: 589 ETH volume
Nansen NFT Smart Buys (24H):
Art Blocks x Pace: 1 Smart Buyers with 29 ETH volume
The Possessed: 6 Smart Buyers with 23 ETH volume
WizNFT: 5 Smart Buyers with 17 ETH volume
Nansen NFT Smart Sells (24H):
Fairy Fiends: 38 Smart Sellers with 3.05 ETH volume
The Possessed: 11 Smart Sellers with 6.77 ETH volume
WizNFT: 8 Smart Sellers with 9.73 ETH volume
Nansen NFT Smart Mints (24H):
Karma: 2 Smart Minters with 38 ETH volume
Through the Window: 1 Smart Minter with 21 ETH volume
Evinco: 7 Smart Minters with 11 ETH volume
The Possessed: 18 Smart Minters with 6.27 ETH volume
Unlocks:
VR, BICO, BLD, UMEE
Coinowl - Source
Vestlab - Source
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