Daily Notes: 08-11-2023
Developments
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source
- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that todays volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source
Trending Assets and Volumes
- BOTTO, up 33.25%, and OX, up 27.32%, are some notable tokens below $100M MC that performed well over the past day.
- BNT is up 22.78% over the past day. ILV has had a great week, and is up 49.74% over the past 7 days.
- LINK is up 12.59% today. MATIC continues to show strength and is up 7.71%.
- ARB, LINK and PEPE are dominating trading volumes onchain. Some other notable names are crvUSD, RLB and ILV.
TVL
- FusionX V3, DEX on Mantle, TVL grew by 88.92%.
- GMX V2, perpetuals DEX on Arbitrum and Avalanche, TVL grew by 58.59%.
- Helix, DEX on Injective, TVL grew by 58.21%.
Governance Proposals
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source
Articles
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source
Full notes here:
https://x.com/asxn_r/status/1722401103050903688
Developments
- USDC’s Circle is considering going public via an initial public offering (IPO) in early 2024 as reported by Bloomberg. Previously, Circle was valued at $9 billion when it attempted to go public via a blank check merger deal with Concord Acquisition Corp in 2021, which was ultimately terminated in December 2022 due to the transaction timing out. source
- Illuvium, a game built on Immutable X, was listed on the Epic Games Store today. In response, the project's token, ILV, has surged by 22% in the last 24 hours. Previously, Illuvium raised $15 million in seed funding and another 4,018 ETH and 239,388 sILV2 (valued at $72 million in June 2022 and $26 million today if unconverted) in an NFT land sale in June of 2022. The game is set to be available to the public for download on November 28th as "Early Access."
- The SEC could approve spot BTC ETF’s as a minimum 8 day temporary window opens up starting tomorrow. source
- OpenSea’s valuation has been reduced by 90% from $13.3 billion to $1.4 billion or less by Coatue, an asset management company that co-led a $300 million round for OpenSea in 2022. Coatue also marked down its stake in MoonPay by 90%. source
- HSBC has partnered with Metaco, which is a Ripple owned company. Metaco provides infrastructure for financial and non-financial institutions to securely build their digital asset operations including tokenized securities custody service for institutional clients. The service aims to go live in 2024. source
- The FTX estate moved an additional $38.5 million of assets to exchanges today, $31.2 million of which was SOL. This brings the total assets moved to exchanges at $350 million so far. source
- Robinhood to expand its Crypto services into the EU. It will also be establishing a UK brokerage in the next few weeks. source
- The Near Foundation and Polygon Labs have partnered to develop a zero knowledge prover for WebAssembly (WASM) blockchains available via Polygon CDK. Success will mean a more interoperable Web3 ecosystem that will allow WASM chains to tap into Ethereum liquidity. source
- Grayscale’s Chainlink Trust is trading at $44 which is a 297% premium on spot LINK prices. Note that todays volume was $880,000 and the 30 day daily volume of the Trust is $132,000. source
Trending Assets and Volumes
- BOTTO, up 33.25%, and OX, up 27.32%, are some notable tokens below $100M MC that performed well over the past day.
- BNT is up 22.78% over the past day. ILV has had a great week, and is up 49.74% over the past 7 days.
- LINK is up 12.59% today. MATIC continues to show strength and is up 7.71%.
- ARB, LINK and PEPE are dominating trading volumes onchain. Some other notable names are crvUSD, RLB and ILV.
TVL
- FusionX V3, DEX on Mantle, TVL grew by 88.92%.
- GMX V2, perpetuals DEX on Arbitrum and Avalanche, TVL grew by 58.59%.
- Helix, DEX on Injective, TVL grew by 58.21%.
Governance Proposals
- Aave proposal to lock the AURA holding in vlAURA via the Strategic Asset Manager and delegate managing the position to the GHO Liquidity Committee. source
- Aave proposal regarding the parameters to migrate USDC.e to native USDC on Arbitrum. source
Articles
- Lido has launched wstETH on Base. The initiative was led by KyberSwap, Beefy, and Superbridge. source
Full notes here:
https://x.com/asxn_r/status/1722401103050903688