Bitcoin continued range bound in the $19k region over the weekend. We saw a dip into $18k on Friday and a quick spike up to $19.6k on Sunday. Such a tight range but sentiment out there seems to indicate people are expecting some bullishness coming. Any chance to salvage some of that Uptober we were promised? How about Moonvember? Reminder: next week on Nov 2nd we have another FOMC with a likely 75 bps rate hike.
⛓ Crypto News:
- Circle partnered with Axelar focused on the use of USDC and cross-chain applications. Avalanche, Cosmos, Ethereum, Polygon, and Sui will be the first chains integrated with Axelar's General Message Passing (GMP)
- Digital asset custody platform Fireblocks has launched its new payment engine for merchants with Checkout.com and Worldpay as pilot partners
- Bitcoin miner, Core Scientific, claims to be losing approximately $53,000 per day to cover the increased electricity tariffs that Celsius refuses to pay
- Crypto unicorn Anchorage launched a new full-stack API infrastructure service known as “build with Anchorage” - battle tested by several early partners such as AngelList, Series Financial and Oath Digital
- Bitcoin hardware manufacturer Canaan is launching the Avalon Made A13 series with two new models with increase efficiency and computing power
- Pension fund-backed Parataxis Digital Yield Fund targets $500M in assets in 2023
- Bitcoin's mining difficulty rose roughly 3.4%, up from the 13% increase from earlier this month
- Klaytn governance proposal submitted to the Klaytn Governance Council (GC) proposing a ⅓ reduction in block reward in order to optimize the level of $KLAY emission
- Crust Network wins the 30th Polkadot Auction + Polkadot Ecosystem Weekly Digest - October 17th - 23rd
👨⚖️ Economic/Government/Regulatory:
- A judge has denied a motion to dismiss the wire fraud charges against former OpenSea employee Nathaniel Chastain
- Troubled crypto lender Vauld has applied for another four months of protection against creditors
- Rishi Sunak's coronation as the UK's next prime minister could mean that plans to make the country friendlier to crypto could be possible
- The Tel Aviv Stock Exchange (TASE), Israel's sole public trading platform for equity and debt, is looking to set up a blockchain-based digital asset trading platform
- Hong Kong unveils completed retail CBDC project that has a CBDC-backed stablecoin
- Japan Credit Bureau (JCB), a Japanese analog to international payments systems like Visa or Mastercard, announced the start of its central bank digital currency (CBDC) infrastructure testing
- Spain overtakes El Salvador to become third largest crypto ATM hub
💸 Exchange News:
- FTX's political action committees are planning an ad campaign on the eve of the US midterm elections
- Brokerage app Robinhood is hiring sanctions investigators for its finance crimes compliance unit
- Robinhood now lists AAVE and XTZ
- Spanish cryptocurrency platform Bit2Me has acquired software development studio Dekalabs
🏦 DeFi News:
- Crypto investment platform Freeway announced a halt to services amid market volatility. Freeway claims to offer up to 43% annual rewards on "Superchargers" denominated in crypto and fiat currencies. Team list has been deleted and allegations of a rugpull exceeding $100M
- QuickswapDEX Interest Bearing Market was attacked for ~ 200k on Polygon and plans to close lending markets
- Layer2DAO multisig on Optimism exploited and drained of 49,950,000 L2DAO tokens
🖼 NFT/Gaming/Metaverse News:
- Otherside metaverse The Persistent World is expected to launch in 2023, and players will be able to access the beta game starting next year, similar to Web3 Roblox
- Solana NFT standard maker Metaplex plans to launch a new NFT asset class that can enforce on-chain creator royalties
- NFTrade integrates Immutable X: a gaming-focused ETH Layer 2
- Azuki completed a $2.5M auction for eight Golden Skateboard NFTs which will be redeemable for physical golden skateboards setting record for eight most expensive skateboards ever sold
💰 Fundraises:
- Precog Finance, a new decentralized ecosystem that automates arbitrage trading between cryptocurrency pairs and futures, received a $3.5M strategic investment from DWF Labs
- Layer2 protocol Milkomeda closed a $3.1M funding round led by Archetype, with participation from Coinbase Ventures
- ATTA, a Web3 OGC & PUGC content protocol, raised $2M
- Web3 publishing platform Paragraph has raised $1.7M from investors such as Lemniscap, FTX Ventures and Binance Labs
- Raze Finance, the first NFT minting platform for security NFTs, successfully completed their pre-seed round of $175k
- High-end blockchain trading platform BitGoldEX won the A round of strategic investment to incubate leading web3.0 projects
👶 Early Stage Projects:
- SUI token is not live, listed, for sale, or obtainable anywhere, no plans for an official airdrop
- Dream Assembly Base Camp first cohort consists of eight start-ups that are focused on shaping the future of Web3 luxury commerce
- zkSync 2.0 testnet system will undergo a regenesis on Tuesday October 25th. The regenesis will reset transaction history, token balances and require developers to redeploy contracts
- Meteor Wallet live - early users may qualify for airdrops
- Introducing the Jupiter Stable Core, Concentrated liquidity, Optimized yield for sAMM pairs.
- Argo is live on mainnet - source
- Hipp Labs live on Aptos mainnet
- REDACTED, a trustless Zero Knowledge protocol, is live on Terra
- Yield-while-DCA has arrived to Mean Finance
- Introducing Sperm Whale, a liquidation arbitrage protocol coming to team Kujira
📊 Data:
TL;DR: Smart Money cooling down - not even $1M of inflows today. Outflows primarily from WETH, USDC, USDT and WBTC. Weekly inflow also looks light and mainly into stETH, Compound, Aave USDC with outflow from Aave WBTC and WETH. Bigger picture, smart money stablecoin holdings are going down but they’re currently not moving into Bitcoin or ETH. NFT Volumes are getting pretty low - top collections barely breaking 300 ETH a day. According to Nansen’s Hot Contracts, the most interacted with contract by wallets is the Layer Zero Aptos Bridge
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D):
- Outflow (1D):
Weekly:
- Inflow (7D):
- Outflow (7D):
- Nansen NFT Hot Contracts:
- Nansen Hot Contracts:
🎓 Research/Reads:
- The india web3 startup landscape: an emerging technology leadership frontier - source
- The Zero-Knowledge Landscape: Part 2 - source
- Marketing In The Bera And Beyond - source
- a16z - metaverse, VR, games; DAGs; web3 bizdev & NFTs; wallet security, gas optimization - source
- a16z - Toppling the Internet’s Accidental Monarchs: How to Design web3 Platform Governance - source
- How protocol daos should work from a cryptolaw(-ish) perspective - source
- CoinGecko - Hop Protocol: A Faster Way to Move Tokens - source
- Messari - Radicle: Decentralizing the Code Collaboration Stack - source
- Building A New Social Network with Web3 - source
- Root cause analysis from past DeFi incidents - source
- Mapping the Identity Space - source
- Delphi - Which one should you use? Arithmetic or geometric mean TWAP - source
🌍 Crypto Twitterverse:
Did we miss anything or is there anything you want to discuss? We’d Love to hear your feedback and engage with the community! Feel free to leave a comment and let us know your thoughts on the Crypto market!
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