Daily Bullets 💊: Markets Rally as U.S. Inflation Comes in Lower Than Expected!
💊 M6 Daily Bullets 💊Wednesday, August 10th
U.S Inflation fell to 8.5%, dropping for the first time since April 2022, below estimates of 8.7%. Recall we saw 9.1% CPI print in June. Markets immediately rallied with Bitcoin jumping to ~ $24k and ETH shooting past $1800. Yesterday saw a Curve Finance front end hack that caused some stir but ended up being a nothingburger. Just another day where hacks and exploits are commonplace.. Two interesting emerging narratives you might consider looking into: sudoswap and real yield.
⛓ Crypto News:
Tether officially confirmed its support behind Ethereum’s upcoming Merge upgrade and switch to a Proof-of-Stake consensus mechanism-based blockchain
Curve Finance had its front end hacked, resolved the issue and recommended that users revoke any approved contracts on its platform. $570k in ETH stolen. Fixed Float seized $200k of ETH
Coinbase misses estimates, sees Q3 underperforming Q2. $1B Net Loss in Q2
Arbitrum Nova is now live and open to the public
Anonymous user sends ETH from Tornado Cash to prominent figures following blacklist sanctions
Solana wallet provider Phantom says its systems were uncompromised in $4M hack
Binance will support “The Merge” and will evaluate the support for distribution and withdrawal of the forked tokens. All forked tokens will go through the same strict listing review process
CoinFLEX filed for restructuring in a Seychelles court, seeking court approval to issue depositors with rvUSD tokens, equity and FLEX Coin
Coinbase focusing on staking ahead of Ethereum Merge
Hotbit exchange will have to suspend trading, deposit, withdrawal and funding functions. Some senior managers have been subpoenaed by law enforcement since the end of July and law enforcement has frozen some funds
The developers behind Blur Finance, a yield aggregator based on BNB Chain and Polygon, appear to have suddenly abandoned the project and deleted its social media channels. More than $600k worth of tokens have vanished in the process
RenBridge has been used to launder at least $540M in crime-related crypto cash since 2020
German crypto bank Nuri with 500K users files for insolvency
Introducing Gnosis Bridge—Polygon PoS Bridge for Gnosis Safe users
The Fantom Foundation has introduced a proposal to reduce staking rewards for validators on the network, could lengthen the timeline of FTM token emissions beyond 2024
Ankr has introduced Ankr 2.0 - Including $ANKR Token staking
RockX joins Elrond as a staking provider and broadens access to Elrond data via its API infrastructure
Silo Finance - Decentralized lending protocol deployed on Ethereum
Ren 2.0: an open protocol enabling novel multichain application development with EVM support
📊 Data:
Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to...
- Inflow: WETH ($84.8M), aUSDT_v2 ($3.2M), DAI ($2.8M), stETH ($1M), LINK ($569k)
- Outflow: WBTC ($12.9M), USDC ($2.7M), CRV ($1.3M), BUSD ($922k), PAX ($516k)
Nansen NFT Hot Contracts:
Rare Apepe YC: 1375 ETH
Proof of Narnian NFT: 925 ETH
MOODIES by HANUKA: 878 ETH
DigiDaigaku: 727 ETH
CryptoPunks: 606 ETH
🎓 Research:
DappRadar - How blockchain users reacted to the crypto contagion and the latest macro events - source
Jump Crypto - Security Stack-Up: How Bridges Compare - source
Aztec: The Scalable Privacy Layer for Ethereum - source
Exploring Arbitrum and its potential to emerge as a major smart contract platform - source
Rekt News on Tornado - THE EYE OF THE STORM - source
How to Build a Censorship Resistant Cross Chain Swap - source
MetaFi: Unlocking NFT Liquidity - source
The Token Economy – Introducing a Framework for Token Policy - source
5 Strategic Moves That Made RTFKT The Leading NFT Brand - source
🖼 NFTs/Metaverse News:
NFT marketplace Magic Eden submitted a proposal to the ApeCoin DAO to build a marketplace where $APE holders can buy and sell NFTs for a 0.75% transaction fee
Hardware maker Nvidia releases a new set of developer tools focused on metaverse environments, including new AI capabilities, simulations, and other creative assets
Meta raises $10B in first-ever bond offering to build a more traditional balance sheet and fund some expensive initiatives, such as its metaverse virtual reality
South Korean social networking platform Zepeto is getting a Web3 overhaul with a crypto-enabled metaverse version called ZepetoX built on the Solana blockchain
Sandbox has partnered with Paris Hilton and 11:11 Media to bring Paris Hilton’s world to the metaverse
🌍 Crypto Twitterverse:
📈 Fundraises:
AAA games developer Gunzilla Games raises $46M to build new platform
Injective, a DeFi-focused layer 1 blockchain, raised a $40M round in a private token sale led by Jump Crypto
Portal Ventures closes on $35M debut fund for early-stage crypto startups
$22.5M Seed Funding Announced by Web3 Infrastructure Firm Fortress Blockchain Technologies
Korean blockchain project Klaytn commits $20M to blockchain research led by two of Asia’s most highly ranked technology schools
BitDAO to fund AfricaDAO with $20M for web3 adoption in Africa
Unstoppable Finance, a Berlin-based startup, secured a $12.8M round led by Lightspeed Venture Partners to launch a non-custodial crypto wallet
Crypto Investing App CoinSwitch Launches $10M Fund To Invest In 100 Web3 Startups
SaaS startup Heirloom raised $8M to onboard enterprise firms into the web3 ecosystem using the XRP Ledger
Ansible Labs, a startup building a payments platform for blockchain accounts, has raised $7M in a seed funding round
VisionsDAO Raises $2.2M for GameFi infrastructure empowering future-proof on-chain games
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