The Daily Index — Thursday, August 1, 2024

MARKETS & BUSINESS

TLDR Crypto

41.5% OF MT. GOX BITCOIN HAS BEEN DISTRIBUTED

Despite the recent movement of $3 billion in Bitcoin from a Mt. Gox-affiliated wallet, the market barely reacted, with Bitcoin prices holding steady. Analysts believe this is because Mt. Gox creditors are long-term holders who are unlikely to sell, and the market has already factored in these transfers.

threadreaderapp.com · 2 min

TLDR Crypto

ECLIPSE: THE BEST OF SOLANA, ETHEREUM, AND CELESTIA

Eclipse is a Solana Virtual Machine L2 that uses Celestia for DA and Ethereum for settlement. As a rollup, it may surpass Solana L1 transaction speeds while providing liquidity access to Ethereum. Its mainnet is now open for builders.

placeholder.vc · 4 min

TLDR Crypto

SUBSIDIARY OF JAPAN'S LARGEST INVESTMENT BANK PARTNERS WITH DINERO FOR INSTITUTIONAL LIQUID STAKING OFFERING

Laser Digital, a subsidiary of Nomura, has partnered with Dinero to launch an institutional liquid staking token fully backed by Dinero's pxETH called IpxETH. This product is designed for institutional investors seeking exposure to Ethereum staking yields, offering a unique alternative to spot Ether ETFs by providing staking benefits alongside ETH exposure.

thedefiant.io · 5 min

TLDR Crypto

THE BULL CASE FOR AAVE

Aave's introduction of protocol fee distributions to token stakers could mark the bottom of its negative price movement over the past few years. For this proposal to go through, it must pass a couple more votes and the protocol must hit “trigger milestones,” like the GHO stablecoin reaching a 175 million supply. The DAO is cutting expenses and its status as a blue-chip protocol is hard to replicate. It is one of the few protocols that has proven PMF along with high float and a low fully diluted valuation.

threadreaderapp.com · 6 min

TLDR Crypto

THE ULTIMATE OPSEC GUIDE

This thread highlights 20 pieces of advice to ensure general internet security and crypto wallet safety. Tips include using multiple emails with different passwords, disabling SMS authentication, and revoking smart contract approvals.

threadreaderapp.com · 7 min

TLDR Crypto

NEW RESEARCH ON DRIVERS OF CRYPTO ASSET PRICES

Uniswap Labs, Circle, and the Copenhagen Business School have released a paper explaining how traditional financial factors affect the crypto market. Since 2019, digital asset prices have been composed of monetary policy, broad market risk premium, and crypto-specific demand. Two-thirds of Bitcoin's 2022 decline can be attributed to contractionary monetary policy. 2023 and beyond's bull market has been driven by the decrease in crypto risk. Day-to-day Bitcoin volatility can be explained best by adoption and risk premium shocks.

blog.uniswap.org · 35 min

TLDR Crypto

THE RISE OF SOLANA RWAS AND STABLE COINS

Solana is rapidly emerging as a leader in stablecoins and real-world assets (RWAs), positioning itself as a key player in merging traditional finance with onchain economies. With robust stablecoin growth, particularly in USDC, and innovative RWA projects like Maple and Parcl, Solana is expanding its ecosystem to attract both retail and institutional capital. Solana is set to further solidify its place in the tokenization of real-world assets through initiatives like the Libre Fund and Jupiter's GUM Alliance aimed at driving adoption and reinforcing its position in the market.

threadreaderapp.com · 6 min

TLDR Crypto

HIGH ETH ETF INFLOWS

BlackRock's ETHA has accumulated 150,000 ETH in five trading days, demonstrating the potential of the ETFs to act as supply sinks.

threadreaderapp.com · 1 min

TLDR Crypto

HOW PARALLELABLE IS THE EVM?

The EVM's ability to run transactions in parallel depends on how much they rely on each other.

threadreaderapp.com · 1 min

TLDR Crypto

STARKNET STRUGGLING TO GET TRACTION

StarkNet is struggling, with only 10,000 daily users, low DEX volume, and fewer transactions compared to other Layer 2s.

threadreaderapp.com · 1 min

TLDR Crypto

WHAT CIRCLE'S VALUATION MEANS FOR DEFI PROJECTS

Circle's $5B valuation gives it a 2.5x revenue multiple, marginally higher than PayPal and Square and significantly below Coinbase's 15x.

threadreaderapp.com · 2 min

TLDR Crypto

POLYMARKET LP GUIDE

Polymarket rewards liquidity providers (LPs) in USDC for placing limit orders near the mid-book, with higher rewards for popular markets and double-sided LPs.

threadreaderapp.com · 3 min