Digest 07 Mar 2022 — 13 Mar 2022

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11.03.2022 09:05
Digest 07 Mar 2022 — 13 Mar 2022

    Project Events

     

    Bancor

    Nexus Mutual joins 30+ DAOs adopting Bancor’s DAO treasury management solution.

    Protocol yield will be protected by Bancor single-sided staking. 

    Bancor is currently the largest source of decentralized liquidity for major tokens on Ethereum like LINK, SNX, BAT, ENJ, wNXM and many more.

     

    The Gitcoin

    The Gitcoin grants program is ongoing, so you can send donations to your favorite projects and get a nice bonus for it in the future.

     

    Ethereum

    Decentralized fixed-income protocol on Ethereum

     

    Sense Finance

    Sense Finance is preparing to launch the first version of the protocol soon.

     

    xPollinate

    xPollinate integrates with Connext Bridge and operates under a single brand. 

     

    DefiSaver

    DefiSaver unveiled its automated strategies for risk insurance in farming protocols.

    DeFi "Godfather" Cronje quits as TVL and tokens for related projects drop in price.

    The prominent developer and prolific project founder  has stepped down from any involvement in the crypto and DeFi space following the spotty launch of the Solidly project.

     

    Pegasys DEX

    Pegasys DEX is first AMM to launch on ZK L2 

     

    DyDx

    DyDx is preparing a mobile app 

     

    Wormhole

    Wormhole bridge adds support for Fantom network

     

    Starknet

    Starknet has inked a strategic partnership with Alchemy

     

    Highlights of the week

     

     

     

     

     

     

    Events for the coming week

     


     

     

     

     

    Funding

    • Upstream, a DAO creation platform, has announced the successful closing of a $12.5M Series A funding round.
    • WalletConnect has raised $11M to allow cryptocurrency wallets to communicate with each other.
    • Cega raises $4.3M from Dragonfly, Pantera to build the first exotic structured products in cryptocurrency.
    • Polychain is investing $6.85 million in "Curate-to-Earn" project.
    • KurateDAO is going to use "crypto-economic games to curate the world's information.
    • Avalanche Foundation unveils $290 million incentive program to spur subnet growth.
    • Kava Rise: $750 million developer incentive program.
    • a16z invested $70M in LidoFinance putting ETH into staking.

     

    Metrics

     

    10 effective coins of the week

    Assessment combines altcoin price performance relative to bitcoin and social performance.

     

     

    Grayscale fund portfolio dynamics

     

     

    Bitcoin metrics

     

    • Stock to flow

     

    This model views Bitcoin as a commodity comparable to those like gold, silver, or platinum. These commodities are known as "stored value commodities" because they retain their value over time due to their relative scarcity.

    For commodities of value, such as gold, platinum, or silver, a high ratio indicates that they are not primarily consumed for industrial purposes. Instead, much of it is held as a cash hedge, resulting in a higher stock-to-flow ratio.

    A higher ratio indicates that the commodity is becoming increasingly scarce and therefore more valuable as a store of value.

     

     

    How to look at the chart?

     

    In the above chart, the price is overlaid on top of the stock-to-flow ratio line. We can see that the price continues to follow bitcoin's stock-to-flow ratio over time. Thus, the theory suggests that we are able to predict where the price might go by observing the projected stock-to-flow ratio line, which can be calculated because we know the approximate timeline for bitcoin production in the future.

    The colored dots on the price line of this chart show the number of days until the next bitcoin halving event. It's an event during which the reward for mining new blocks is halved, meaning miners get 50% less bitcoins for checking transactions. 

     

    • BTC OnChain

     

    Whales have significantly accumulated BTC over the past 7 weeks. Since Dec. 23, addresses with $1,000BTC or more have added a total of $220,000BTC to their wallets, representing the fastest accumulation since September 2019.

     

     

    Funding Rates

     

    Positive funding rates imply that speculators are bullish, and long-traders pay funds to short-traders. 

    Negative funding rates mean that speculators are bearish, and short-traders pay funds to long-traders.

     

     

    P.S. Funding rates (0.01%) - black, this is a neutral situation. Funding rates (below 0.01%) - green, this is a bullish situation. Funding rates (above 0.01%) - red, it is a bearish situation. The stronger the bearish or bullish sentiment, the darker the color.


    Off chain data

     

     

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