Daily Bullets 💊: Crypto Markets Cool Off While Degens Continue Apeing Shitcoins
💊 M6 Daily Bullets 💊 Tuesday, August 16th
Markets are bleh today. Bitcoin sub $24k and ETH can’t hold $1900. Unfortunate but in line with what we’ve grown to expect this whole year so far. Attention around crypto twitter remains on things like dogechain and sudoswap plays - shitcoinery still has life in it.
⛓ Crypto News:
- New filings show lender Celsius could run out of operational cash by October and a $2.8B hole in crypto assets on hand compared to liabilities
- U.S. Federal Reserve Board has finalized tiered guidelines for granting Federal Reserve accounts - long-awaited for granting master accounts to crypto banks
- Tether's market capitalization has reversed a three-month downtrend while USDC sees a drop in value after the U.S. imposed sanctions against Tornado Cash
- Acala’s native stablecoin, aUSD, close to regaining its dollar peg after burning over 1.2B tokens that were minted by exploiters over the weekend who took advantage a bug in one of the platform’s liquidity pools
- Jump Crypto and the Solana Foundation will create a second validator client for the Solana blockchain network intended to improve performance as the network scales and boost decentralization
- Lido Finance L2 expansion plan, first step is bridging Ethereum staking derivatives on Arbitrum and Optimism
- YouTube influencer Ben Armstrong, aka ‘BitBoy Crypto,’ sued a fellow social media personality over defamatory claims that he scammed his audience
- Crypto domain provider Unstoppable Domains is releasing an iPhone app to bring Web3 to users’ fingertips
- Paypal now offers crypto support
- Miners "only" sold 6,200 BTC in July, less than half the amount they sold the previous month
- BitGo says it will seek over $100M in legal damages after Galaxy moves to prematurely end acquisition
- Aave clarifies wallet monitoring due to government sanctions cannot be enforced on a smart contract level unless the DAO votes and blocking is only at the front-end layer
- DeFi lending protocol Compound is getting ready to launch its third version called Comet - will soon be put to a governance vote
- Ethereum-based lending and borrowing platforms Iron Bank, Yearn Finance and Homora joined layer 2 network Optimism
- Details on Canto genesis & token distribution for the Canto network
- Starkware turned on recursive proofs, a layer two scaling method that could drive down gas fees and improve speed
- 1inch now fully integrated with Synthetix Atomic Swaps
- 74 Days to zkSync 2.0 on mainnet - highlighting some of the members of growing ecosystem
- xHashtag has announced Soul Bound Tokens (SBTs) launch on Solana
- Introducing Nucleo – the first private, non-custodial, auditable multisig on Ethereum
- Seed Labs - Introducing the world's first web3 SPVs
- Introduction to MovEX - the AMM + order book hybrid liquidity DEX on the Move ecosystem
- IPOR Labs AG is launching a protocol to bring transparency and stability to the volatile decentralized finance (DeFi) credit market
- Cryptocurrency exchange Huobi Global will stop offering derivatives trading services to users in New Zealand just a couple of months after expanding operations to the country
- Major Brazilian broker XP is the latest financial firm in the country to offer its customers the ability to trade crypto, with its platform Xtage launching
📊 Data:
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow: WETH ($4.9M), xSUSHI ($1.2M), AAVE ($845k), DAI ($799k), LINK ($606k)
- Outflow: USDC ($14M), BIT ($5.2M), USDT ($3.9M), MKR ($845k), aWETH_v2 ($595k)
- Nansen NFT Hot Contracts:
- BAYC: 705 ETH
- MAYC: 463 ETH
- Otherdeed: 461 ETH
- ENS: 379 ETH
- CryptoPunks: 219 ETH
🎓 Research:
- Ansem - A Soft-ish Landing - source
- Analyze the future application scenarios of the NFT AMM innovative solution SudoSwap - source
- CoinMarketCap and Footprint Analytics: 2022 GameFi Industry Report - source
- Uniswap - The Fee Switch - source
- How DeFi platforms are using data from TRM Labs to respond to Tornado Cash sanctions - source
- Analysis: What is and what is not a sanctionable entity in the Tornado Cash case - source
- Coinbase - The Ethereum Merge is Coming: Here’s what you need to know - source
- Digital Co-Ops - Grease for the glue, not greasy glue - source
- Ethereum is neither decentralized nor deflationary - source
- Metaverse side hustles - source
- Why NFTs Are the Future of Digital Marketing - source
🖼 NFTs/Metaverse News:
- Owners of CryptoPunks and Meebits are now allowed to use their characters in commercial or personal projects. Yuga Labs has finally released the intellectual property rights
- Tencent Halts NFT Sales on Its Huanhe Platform Amid Regulatory Scrutiny. Users will still be able to hold, display or request a refund on their NFT holdings
- Zash and Binance are partnering to develop NFT data and intelligence products
🌍 Crypto Twitterverse:
📈 Fundraises:
- Composable leverage protocol Gearbox raised $4.15M in a DAO strategic diversification round
- A Swiss CV venture capital group has invested in South African metaverse startup SodaWorld
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