Digest (15 Nov 2021 - 21 Nov 2021)

 

Project Events

 

Binance have listed BENQI (QI) token, and now it is available on Broex

 

• listing price $0.17;
• ATH $0.3;
• current price $0.196;
• 24 hours trading volume was $37,436,817;
• number of token holders 12,274.

Sushiswap

 

Sushiswap has launched its NFT marketplace.

 

1inch

 

1inch is planning to become a full-fledged DAO. The first step towards decentralization was taken almost a year ago, community members were given partial control of the protocol.

 

What was added this time:

 

• a multisig wallet was created;
• selected old-timers of the treasury with signatures;
• part of the revenue will be distributed to the treasury;
• eliminated gas when voting in the minutes;
• added delegation of votes to other wallets.

 

Sandbox

 

Sandbox announced the long-awaited launch of  Alpha version of the metaverse.

 

Coinbase

 

Coinbase is considering supporting third-party DeFi apps on its platform. Alessia Haas, the Chief Financial Officer of Coinbase  spoke at a Citi event Monday and highlighted Coinbase's interest in giving its users greater access to decentralized financial applications (DeFi).

 

Uniswap

 

Uniswap is rebranding, adding a new logo and different options for tokens, merchandise, billboards and other uses.

 

LUNA

 

LUNA continues to develop the ecosystem. A list of upcoming projects has been compiled that can make Airdrop for LUNA Stakers.

 

 

FEI and Rari

 

FEI and Rari are proposing a token merger in hopes of increasing Fuse's liquidity. This would also help Rari expand its reach by optimizing credit development and oracles resistant to manipulation. 

We see the trend about liquidity owned by the protocol continuing to grow. We expect this to evolve, as owned liquidity is key to the longevity of protocols.

 

Highlights of the week

 

 

 

 

 

Events for the coming week

 

 

 

 

Funding

 

• ConsenSys - Metamask's parent company has raised $200m in funding and reported 21m monthly active users;
• StarkWare, the Ethereum Layer 2 developer using ZK-rollups technology, has raised $50m in a Series C funding round and is now valued at $2bn;
• ZkSync has recently raised $50M from Matter Labs as well as new investors such as a16z, Blockchain.com and Crypto.com;
• Saddle, an AMM that wants to reduce slippage in DeFi trading, has raised $7.5M;
• Jet Protocol recently announced a $6.8M funding round with major investors such as Paradigm and Solana Ventures;
• After Paradigm announced their plans to raise $1.5B, they announced a $2.5B venture capital fund for crypto startups and protocols.

 

Metrics

 

10 effective coins of the week. 

The valuation combines altcoin price performance against bitcoin and social performance.

 

 

Grayscale fund portfolio dynamics

 

 

Bitcoin metrics

 

Bitcoin price is currently in the middle of a logarithmic channel, the market situation is uncertain, but indicators show an increased probability of continued growth in the value of the asset in the medium term.

 

 

 

Funding rates 

 

Positive funding rates mean that speculators are bullish and long traders pay funds to short traders. 

Negative funding rates imply that speculators are bearish and short traders pay funds to long traders.

 

 

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

 

Off-chain data