The Daily Index — Tuesday, January 23, 2024 · TLDR Index

MARKETS & BUSINESS

TLDR Crypto

TLDR Crypto

OSL EXECUTIVE SAYS HONG KONG COULD DEBUT SPOT CRYPTO ETF BY MID-YEAR

Hong Kong could see the launch of its first spot crypto ETF by mid-year, according to local crypto exchange OSL. OSL is reportedly in discussions with multiple fund companies, with five firms leading the pack. OSL views this as a way to make it easier for the average person to gain exposure to crypto and to put protections in place to safeguard investors.

theblock.co · 3 min

TLDR Crypto

NON-FUNGIBLE DAO

Magic Eden is launching Non-Fungible DAO, which aims to facilitate the adoption of NFT commerce protocols. It will own and manage various open-source technologies for NFTs including smart contracts on Solana, Bitcoin, Ethereum, and Polygon. The DAO's development and protocols will be governed by the token holders, who will also earn most of the token supply.

twitter.com · 2 min

TLDR Crypto

RSIC: A PEER-TO-PEER RUNE ALLOCATION SYSTEM

A new project called Rune Coin launched yesterday. Utilizing a peer-to-peer rune allocation system known as RSICs, 21,000 circuits were airdropped to the Ordinals community. RSIC holders can use them to mine runes, sell them on the market, or keep them. RSICs must be activated to begin mining. Rune allocations vary with flat, random, boosted, and halvening distributions. Game rules and updates can be found on Rune Coin's website and Twitter channel.

ordinals.com · 3 min

TLDR Crypto

THE BOOM-BUST SEQUENCE & THE COMPARISON OF NARRATIVE MOMENTUM & PRICE

This thread attempts to explain some important concepts about market cycles using examples from George Soros's "Alchemy of Finance" and Brent Donnelly's "Alpha Trader". The thread goes over Reflexivity, Boom-Bust Sequences, and Narrative Cycles, highlighting their relevance in understanding market trends and behaviors. It also provides tips on how to better interpret market narratives.

twitter.com · 6 min

TLDR Crypto

DEEP-DIVE ON BTC ETF VOLUME AND FLOWS

This thread aims to debunk current Bitcoin ETF volume and flow narratives. The author points out discrepancies in reported flows due to the settlement mismatch between spot Bitcoin and ETFs. He encourages followers to take a look at the data themselves to understand the actual situation, suggesting that actual Bitcoin ETF inflows are around $1 billion, rather than the figures touted by some news sources and influencers.

twitter.com · 3 min

TLDR Crypto

OEV: THE BIGGEST PROBLEM IN DEFI ORACLES

The use of DeFi Oracles, data providers for decentralized platforms, has been criticized due to high latency periods leading to capital exploitation. Node operators have a window to manipulate price feeds, creating a problem known as Oracle Extractable Value (OEV). Companies like AAVE have experienced ongoing attacks because of OEV. Solutions such as API3's implementation of fair system OEV extraction through order flow auctions offer hope. Decentralized oracles like UMA and API3 are also exploring similar strategies to preserve data integrity.

twitter.com · 3 min

TLDR Crypto

NEW DETAILS EMERGE ABOUT SEC’S X ACCOUNT HACK, INCLUDING SIM SWAP

The SEC experienced a breach on its X account due to a SIM swap attack where an unauthorized party gained access to the account and published a false post about bitcoin ETFs. The SEC, which had disabled two-factor authentication, regained control of the account and has since re-enabled the security measure. The breach did not impact the SEC's systems or data, but it did cause hundreds of millions of dollars of liquidations across the crypto markets.

cnbc.com · 4 min

TLDR Crypto

DOGECOIN, FLOKI BULLISH BETS RISE ON X PAYMENTS SPECULATION

Dogecoin and Floki saw a 12% surge after rumors of payment integrations into X surfaced. Dogecoin enthusiasts began speculating that their fellow Dogecoin fan, Elon Musk, might include Dogecoin as an option in the future.

coindesk.com · 2 min

TLDR Crypto

8 CURATED LISTS TO CATCH EARLY GEMS

X offers plenty of hidden alpha when used correctly. This post provides eight curated lists of resources and experts in various areas of crypto that can help you stay up to speed in the space.

twitter.com · 2 min

TLDR Crypto

GLOBAL CRYPTO OWNERS INCREASED 34% TO 580 MILLION BY END OF 2023

In 2023, global crypto ownership rose by 34% to 580 million, with Bitcoin and Ethereum seeing significant growth due in part to developments like Bitcoin ETFs, Ordinals, and Ethereum's Shanghai Upgrade.

theblock.co · 1 min

TLDR Crypto

TERRAFORM LABS FILES FOR CHAPTER 11 BANKRUPTCY

Terraform Labs, creator of TerraUSD and Luna, officially filed for Chapter 11 bankruptcy in Delaware, aiming to continue operations and resolve legal issues.

techcrunch.com · 2 min

TLDR Crypto

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