Digest 14 Mar 2022 — 20 Mar 2022

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19.03.2022 10:57
Digest 14 Mar 2022 — 20 Mar 2022

     

    Project Events

     

    Aave has launched V3

    The most powerful version of the Aave protocol to date, V3 provides groundbreaking features from increased capital efficiency to enhanced decentralization.

     

    Terra

    Synapse becomes a bridge partner for Terra. This will enable UST interoperability between Terra and all EVM chains later this week.

     

    DEX

    Hallswap V2, a DEX aggregator for Terra that optimizes price efficiency by aggregating liquidity across multiple DEXs has been updated this week.

     

    Fantom

    AlphaHomoraV2 is now LIVE on the Fantom network.

     

    Synthetix

    Synthetix perpetual futures will launch later this week.

    Anyone with an internet connection will have access to fully decentralized and composite perpetual futures with 10x leverage through an easy-to-use trading interface from Kwenta.

     

    Alchemix

    Alchemix protocol is updated to the new version v2.

     

    LayerZero

    LayerZero is now running in beta on Ethereum, Avalanche, Polygon, BNB Chain, Fantom, Arbitrum, and Optimism networks. In 6-8 weeks we expect Solana, Terra, Cosmos Hub and Osmosis, and in 4-6 months we expect LayerZero, a unified cross-chain layer.

     

    Polygon

    Polygon was out of service for 8 hours this week.

     

    Ethereum

    Ethereum wallet MetaMask passes 30 million users, plans DAO and token - Decrypt.

     

    Instagram

    Mark Zuckerberg has announced that the NFTs will be coming to Instagram soon.

     

    Figment and Unslashed

    Figment and Unslashed launch best-in-class on-chain staking insurance protection.

     

    Bored Ape Yacht Club creator

    Bored Ape Yacht Club creator buys CryptoPunks and Meebits, and announces APECoin token to be used within the future ecosystem of the metaverse.

     

    Highlights of the week

     

     

     

     

     

    Events for the coming week

     

     

     

     

     

     

    Funding

     

    • Ethereum company ConsenSys is valued at $7 billion in a $450 million funding round.
    • Spartan Labs: Spartan Group's $100 million venture capital studio set up to develop Web3
    • Polygon's popular NFT collection Crypto Unicorns has closed a $26 million token sale before launching a web game later this month.
    • Treehouse announced that it has raised $18 million in seed funding.
    • Hex Trust raised $88 million in a funding round led by Animocabrands to bring gamers who don't know how to use blockchain to true digital asset ownership.
    • Decentralized platform for trading perpetual futures, Hubble Exchange, raises $3.3 million in a strategic partnership led by Framework Ventures
    • Solana-based NFT Marketplace Magic Eden has raised $27M in a Series A.
    • The round was led by Paradigm and included contributions from Sequoia and Solana Ventures.

     

    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

     

    Glassnode records a large withdrawal of BTC from exchanges. This kind of event often led to the growth of BTC.

     

     

    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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