Daily Bullets 💊: Le Et Hirium Merde is Finally Upon Us!
💊 M6 Daily Bullets 💊Wednesday, September 14th
A historic day! Le Et hirium Merde is finally upon us. You can check the countdown with the attached timer. It should from a developer standpoint be fine - lots of testnets and shadow forks have been successful. Will we see volatility in price? Perhaps. Things are currently looking fairly flat with Bitcoin barely holding $20k and ETH struggling to hold $1600. It’ll be incredibly interesting to see what the sentiment is like once this big event is finally over - so many market participants have been hyper focused on this event for months. What will we all focus on next? Also pretty wild about Do Kwon - pretty sad when you remember he named his daughter Luna. Lots of hard learned lessons this year.
Countdown timer: https://www.blocknative.com/ethereum-merge-countdown
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⛓ Crypto News:
- A South Korean court issued an arrest warrant for Do Kwon, CEO of Terraform Labs, and two other employees
- Celsius CEO Alex Mashinsky is pushing for a revival of the firm around custodial services
- Ethermine, Ethereum's biggest mining pool will stop its Ethereum mining service once the Merge happens
- BNB Chain is partnering with Google Cloud, aiming to support the growth of early-stage Web3 and blockchain startups
- Compound Treasury debuts crypto-backed loans for institutional clients - borrowers will be able to put up crypto collateral to secure loans from Compound Treasury at a 6% interest rate
- Uniswap Proposal - Deploy Uniswap V3 to zkSync
- US Treasury clarifies publishing Tornado Cash’s code does not violate sanctions
- Bybit will support ETHW and would complete the airdrop distribution of the ETHW fork token within eight hours of Ethereum Merge
- SWIFT and Symbiont announce corporate data blockchain pilot
- Filecoin service provider announces move to Singapore in light of tightening restrictions in China
- Huobi has signed a Memorandum of Understanding with the South Korean Busan Metropolitan City government to develop its local blockchain infrastructure
- OFAC says us individuals may apply for a license to withdraw crypto deposited into Tornado Cash prior to aug 8
- Russian millionaire’s startup plans ruble stablecoin following DAI model
- A group of Italian and international investors brought a class-action lawsuit against Binance seeking damages for losses sustained during multiple exchange outages in 2021
- The smart contract for the Coinbase Wrapped Staked ETH (cbETH) has a blacklist function, triggering criticism from some in the crypto community
- Trust Wallet has now added support for Solana dApps
- Canto Online Hackathon | Season 1, Chapter 1 | October 1 - 21 Virtual
- Polynomial $OP airdrop confirmed to everyone that deposited before May 13
- Nomad Bridge hack - The Road to Recovery
- Announcing MEV Satellite: the first Cosmos ecosystem MEV dashboard
- Apollo DAO will be closing vaults on Terra Classic
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: On the daily, money flowing into Compound USDC, stETH, USDT and curiously enough SRM (Alameda just bought $5M). Flowing out of USDC, WETH and WBTC. On the weekly looks like mostly going into stables and WBTC and flowing out of Et hirium. NFT volume looks low, Doodles volume from yesterday dried up
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow (1D): cUSDC ($49.5M), stETH ($15.1M), USDT ($11.1M), SRM ($5.2M), aUSDC ($3.4M)
- Outflow (1D): USDC ($28.3M), WETH ($14.4M), WBTC ($9.8M), cETH ($6M), aWETH ($1.1M)
Weekly:
- Inflow (7D): cUSDC ($79M), WBTC ($30M), USDT ($21M), USDC ($15.7M), stETH ($14.5M)
- Outflow (7D): cETH ($44.8M), WETH ($31.5M), aUSDC ($13.4M), AAVE ($3.2M), MATIC ($2.4M)
- Nansen NFT Hot Contracts:
- CryptoPunks: 428 ETH
- Otherdeed: 374 ETH
- Anomura Mystery Bowl: 254 ETH
- ENS: 251 ETH
- Doodles: 248 ETH
What is the Data telling you? See anything that sticks out to you?
🎓 Research:
- The Merge - A Deep Dive With Nansen - source
- Paradigm - Hardware Acceleration for Zero Knowledge Proofs - source
- Ethereum is the Better Bet - The Winning Cryptocurrency is Likely to be the One That is Most Used; It’s Not Enough to be “The Hardest Money” - source
- Chainalysis - The 2022 Global Crypto Adoption Index: Emerging Markets Lead in Grassroots Adoption, China Remains Active Despite Ban, and Crypto Fundamentals Appear Healthy - source
- OpenSea Blog - Why We Don’t Mind the Dip(s) - source
- Bankless - How to create editioned NFTs - source
Have you seen our institutional-quality research?
🖼 NFTs/Metaverse News:
- New York’s Museum of Modern Art is considering buying NFTs with some of the proceeds of a $70M Auction
- Sci-Fi NFT comic book project lays the foundation for CCG development where DAO members vote and decide on the future of the story by minting, collecting and crafting panels and pages of comic book issues
- Rentable, an NFT protocol that lets users rent out their jpegs, announced that the protocol will be shutting down after they could not secure funding and “got close to zero traction”
- Axie: Origins Season 1 starts
🌍 Crypto Twitterverse:
📈 Fundraises:
- Two Sigma Ventures raises $400M across two funds
- Crypto-focused investment firm, North Island Ventures, launches $125M investment fund looking to make 30 to 40 early-stage investments
- Inery, a decentralized data management system, has secured an investment from web3-focused blockchain VC firm Metavest at the valuation of $128M
- Blockchain startup, Diamond Standard, which is tokenizing diamonds to create a new investable asset class, raised $30M in a Series A funding round
- Ownera, a startup building infrastructure to connect the tokenized asset networks of the traditional finance world, has raised $20M in a Series A funding round from backers that included banking giant J.P. Morgan
- Blockchain development platform and web3 unicorn Alchemy is raising a $12M venture fund following its first acquisition
- Smart contract auditing platform Sherlock has raised $4M in a seed round led by Archetype
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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