💊 M6 Daily Bullets 💊 Thursday, September 15th
Le Et hirium Merde has come and gone! What do we do with ourselves now!? This event has been the focus of most of the remaining crypto community for so long and pricewise it has been incredibly underwhelming. We initially stayed pretty flat for a few hours - and then ETH began dumping. BTC currently under $20k and ETH ~ $1400. Looking pretty sell-the-news-y. Everyone is asking the same question - what narratives and catalysts do we have to look forward to now? There’s a few candidates floating around - gonna cover them in tomorrow’s weekly recap so check that out. In the meantime - the macro is still heavy and is likely to remain so for a while. Gonna keep an eye on that for a sense of when to shift back to being risk on.
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⛓ Crypto News:
- The Merge has officially been triggered! Ethereum’s transition from proof of work to proof of stake has passed without any obvious issues and will reduce worldwide electricity consumption by 0.2%
- Coinbase users can evaluate lawmakers’ crypto policies, register to vote and discover political events on the exchange’s app
- Justin Sun’s Poloniex exchange has decided to choose EthereumFair, a forked chain launched by the ClassZZ, as the main chain of ETHW tokens instead of the ETHPOW that ChandlerGuo and others had promoted before
- Most of the ETH staked on the Ethereum beacon chain will not get the ETHW airdrop. Lido said that ETHW will not be distributed to stETH holders. Binance also stated that BETH holders will not receive forked tokens
- Announcing Ribbon Lend — Ribbon’s expansion into the credit market
- Thai SEC intends to ban crypto lending in the country
- FTX, Bybit among the first exchanges to launch spot ETHW trading
- Venture capital firm Spice VC has sold part of its stakes in crypto infrastructure company Blockdaemon and alternative investment platform Securitize to secure its investors a payout
- Chicago Crypto Capital, its owner and two salesmen are being prosecuted for their illegal sale of BXY tokens to investors from August 2018 to September 2019
- Computing power on Ethereum Classic (ETC) and Ravencoin (RVN), or hashrate, has nearly doubled a few hours after mining was rendered obsolete on the Ethereum network
- US Treasury blacklists several bitcoin addresses tied to Iran ransomware attacks
- Experience the Apeiron Battle Demo — Register your E-mail before Sep 21st in for a free solar fragment battle pass NFT airdrop
- Tron has launched the third season of its 2022 Grand Hackathon, with $1.2M in prizes up for grabs
- Gitcoin — GR15 is in full effect — Trust Bonus — with your TB you can increase your GR15 donations by a factor of 150%
- You can now deposit directly from Aztec’s ZK rollup into Yearn’s Dai and Eth vaults
- Kali — Introducing Wrappr: the legal wrapping suite
📊 Data:
TL;DR: Same messy story — not much discernible. Highlight on the weekly outflow which is mostly USDC and ETH stuff. Plus someone dumping their dYdX position. Particularly interesting is that a ton on ETH was moved onto exchanges starting yesterday. Usually crypto gets moved onto an exchange to be sold.
- Nansen Smart Money Holdings Token Inflow and Outflows: Tracking what the whales are up to…
- Inflow (1D): aWETH ($21.8M), DAI ($20.7M), stETH ($17.7M), WBTC ($12.7M), USDC ($11.1M)
-Outflow (1D): cUSDC ($11.9M), USDT ($7.6M), DYDX ($5.3M), MKR ($1.6M ), AAVE ($1.2M)
Weekly:
- Inflow (7D): cUSDC ($67.4M), WBTC ($38.1M), stETH ($31.9M), DAI ($22.9M), aWETH ($17M)
-Outflow (7D): USDC ($87.2M), WETH ($60.2M), cETH ($23.2M), DYDX ($5.4M), MKR ($3.7M)
Nansen NFT Hot Contracts:
- 0x04a: 1263 ETH
- Otherdeed: 759 ETH
- BAYC: 653 ETH
- Anomura Mystery Bowl: 282 ETH
- Louvre_Museum: 275 ETH
ETH on Exchanges
🎓 Research:
a16z — SNARK security and performance — source
VRGDA — Why is it a better NFT issuance model — source
- Jarvis Labs — Market Update: Setting the Stage for Ethereum’s Merge — source
🖼 NFTs/ Metaverse News:
- Moments after the historic Merge, the first ever NFT on the PoS consensus cost over 36.8 ETH in transaction fees ($60,626) to mint the NFT named “The Transition”
- Mobile-based fantasy RPG Guild of Guardians is set to introduce new playable NFT characters based on the IP of eight popular professional esports teams
- Fortnite creator Epic Games releases first NFT game on its store
- OpenSea has announced OpenRarity, an open standard for NFT rarity, jointly developed with Curio, icy tools, and PROOF. OpenRarity aims to provide a transparent, mathematically sound rarity calculation and is expected to launch on OpenSea next week
- Porsche24 and Team GP Elite have partnered with Syscoin to launch an NFT collection
- ConsenSys — 72 hours following the Merge, mint the open edition of “Regenesis,” a commemorative collection marking Ethereum’s second genesis
- Unlike most NFTs, China’s “digital collectibles” are built on closed networks and designed to appease regulators who frown on trading and speculation
📈 Fundraises:
- Binance Labs boosts strategic investment in Aptos Labs to expand commitment to infrastructure building
- Former Citadel Securities execs have raised $50M as their crypto market maker Portofino Technologies emerges from stealth
- Token management platform Magna raises $15M seed round at $70M valuation
- Indonesian crypto platform Reku raises $11M
- Thirdwave, the first blockchain discovery engine, raises $7M
- Arpeggi Labs raises $5.1M led by a16z crypto to build open-source music creation
- DolarApp raises $5M to allow instant-sweep to USDC in Latam
- Infinity Exchange, a new platform providing institutional grade capital efficiency in DeFi raises $4.2M
- Hypersonic Laboratories, the startup behind HELIX, a high-fidelity open-world metaverse platform, has raised $3.5M
- BRAVO READY, creator of BR1: Infinite Royale, the first risk-based shooter, announced that Sino Global Capital took part in its $3.5M seed round
- MetaFi raises $3M to bring social trading to the metaverse
- Map3.ar investment From KuCoin Labs to facilitate the exploration of the AR metaverse to scan, build and get incentives
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