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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