The price action on some of these charts is absolutely wild - both longs and shorts getting rekt. Yesterday the US Federal Reserve did end up raising rates by 75 basis points, as most people expected, in their ongoing attempt to fight high inflation. Their stance is clear about staying this course and the expectation for the rest of the year over 2 more FOMCs is to have 100-125 bps in combined hikes. Could that mean a 75, 50 split or ? Next important macro date will be the September CPI data released on October 13.
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⛓ Crypto News:
- Celsius revival plan proposal may include issuing tradable wrapped assets to customers
- FTX is reportedly in talks to raise up to $1B and preserve its $32B valuation
- Trading firm Alameda Research is launching a permissioned pool in Clearpool's ecosystem
- Binance announced the creation of a new Global Advisory Board made up of former government and finance officials to navigate regulation
- Helium community approves crypto wireless network's migration to Solana
- Uniswap Foundation has announced $1.8M in its first round of grants to 14 recipients working on various projects
- Kraken's Jesse Powell is stepping down as CEO
- Binance receives approval for crypto services in Dubai
- CoinFLEX has announced a restructuring proposal that would see creditors own 65% of the company
- Coinbase is approved by De Nederlandsche Bank, the central bank of the Netherlands
- Korean tax authorities seize $185M worth of crypto from tax evaders since 2021
- Buy now, pay later firm Klara cuts more staff, following a 10% reduction in May and a major down round in July
- Royal Family of Dubai partners with CoinCorner to enable Bitcoin transactions in the country
- Wormhole has deployed generic messaging support for the Aptos devnet, enabling asset cross-chain asset transfers
- Blockchain infrastructure firm Coinbase Cloud has officially launched its Web3 developer platform called ‘Node’
- Cronos is moving out of beta - roadmap update on Sept 30
- Cardano Vasil upgrade ready with all ‘critical mass indicators’ achieved
- Web3 crypto browser Opera plans to integrate Elrond blockchain services for over 300 million users
- EOS Network has successfully completed its consensus upgrade to AntelopeIO Leap 3.1
- Coinbase Prime now supports custody of SWEAT (ERC-20)
- New LlamaLend/tubbysea release will have built-in rate-limits
- Lark - Expanding access to exclusive investment deals. Goldfinch community launched lark.market to enable open trading of Borrower Pool positions
- Former Bolt CEO Ryan Breslow published the litepaper for Love, his "truth seeking" pharma DAO
- Announcing Shinami - building foundational developer infrastructure to power the next wave of dApps, built on Sui
- Introducing the Cruize Protocol - enables capital-efficient protection from downside volatility by tokenizing hedged positions into useable assets across all of DeFi
What’s your take on today’s news? Anything interesting that you have to say about these stories? Did we miss anything that should’ve been included?
📊 Data:
TL;DR: Low volume inflowing today, mostly into Matic. Most outflow today from USDC, WETH and USDT. Biggest weekly inflow is into Compound ETH, Aave stETH, stETH. Biggest weekly outflow is still USDC followed by DAI. Azuki floor up ~ 20% over past 3 days and today news of $30M raise. DigiDaigaku floor up almost 30% today
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D): MATIC ($7.4M), stETH ($5.1M), cETH ($1.2M), BONE ($794k), DAI ($605k)
- Outflow (1D): USDC ($19.1M), WETH ($15M), USDT ($13.4M), COMP ($5.3M), cUSDC ($2M)
Weekly:
- Inflow (7D): cETH ($70.1M), aSTETH ($15.5M), stETH ($13.9M), WBTC ($13.3M), MATIC ($6.4M)
- Outflow (7D): USDC ($89.9M), DAI ($19.3M), RPL ($11.9M), cCOMP ($9.7M), MIM ($7.7M)
- Nansen NFT Hot Contracts:
- Legendary Dancing Seahorse: 1710 ETH
- Hedz by Matt Furie: 723 ETH
- Exosama: 556 ETH
- ENS: 520 ETH
- Azuki: 514 ETH
What is the Data telling you? See anything that sticks out to you?
🎓 Research:
- Atom 2.0 — The Next Big Narrative After Eth Merge - source
- Crypto Adoption Steadies in South Asia, Soars in the Southeast - source
- How high do we want gas fees to be on Ethereum? - source
- The power of valves for better flow control, improved reliability & lower expected payment failure rates on the Lightning Network - source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
- Chiru Labs, the Los Angeles-based creator of the Azuki NFT collection, plans to raise at least $30M in a Series A funding round
- Layer-1 blockchain Zilliqa to launch web3 games console in early 2023
- Magic Eden announced a new journey of interoperability through cross-chain support of Ethereum NFTs - with the beta version of its aggregator - Magic Ethen
- Hasbro is rebooting the Starting Lineup sports toy line with new figures that include NFT trading cards with NBA stars like LeBron James and Stephen Curry
- OpenSea adds scarcity tool OpenRarity to tell you just how rare an NFT is
- UNICEF's Giga initiative shows the value of blockchain-based NFTs for fundraising, with a recent public sale raising proceeds to connect schools to the internet in developing countries
🌍 Crypto Twitterverse:
📈 Fundraises:
- Digital asset investment firm GEM Digital Limited has committed $50M to finance ParallelChain Lab following its mainnet launch and native token listing, XPLL, in Q4 2022
- Web3 game platform, Iskra, raises $40M and partners with Gate․io for Token Generation Event
- Immunefi, a popular bug bounty system, has raised a $24M Series A funding round led by Framework Ventures
- Blockchain startup Hyperlane raises $18.5M round led by Variant
- Codacy raises $15M to improve code reviews with automation
- Cryptography network Lit Protocol has raised $13M in a Series A round to hire developers creating a decentralized ownership and interoperability across protocols
- Singaporean Fintech dltledgers raises $8.5M to fuel its North American expansion plans
- Bain Crypto Capital led a $6.5M round for Skip protocol to democratize access to MEV opportunities and profits on the Cosmos ecosystem
- Binocs raises $4M to help crypto investors stay on top of their taxe co-led by Beenext and Arkam
- Peter Thiel's Founders Fund leads $3.7M round into Block Green
- 0xScope Protocol raises $3M seed round to create a new data layer of Web3
- Sintra raises $2M seed round to spearhead social app & marketplace for NFT investors
- Outscal raises $1.5M for building a community-first, ed-tech platform to upscale talent in the gaming industry
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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