TLDR CRYPTO 2024-02-13

FRANKLIN TEMPLETON JOINS ETHEREUM ETF RACE

Franklin Templeton has thrown its hat into the ring with an application to the SEC for an Ethereum ETF. It is entering the race alongside major competitors like BlackRock and Fidelity. This follows the firm's launch of a bitcoin ETF, which has seen less demand than its rivals so far. The SEC has continued to delay decisions on Ethereum ETFs, fueling speculation about what this could mean for Ethereum. Most people expect a final decision on the applications by May.

SPOT BITCOIN ETFS SAW $1.1 BILLION OF INFLOWS LAST WEEK, COINSHARES SAYS

Bitcoin ETFs recorded an all-time high weekly inflow of $1.1 billion last week, bringing the cumulative inflow to $2.8 billion since their launch in January. Asset management firms BlackRock and Fidelity are leading these inflows. The broader crypto investment product landscape hit $59 billion in AUM, the highest that figure has been since early 2022.

DN404: DIVISIBLE NFT STANDARD

The latest ERC404 meta, dubbed the "Divisible NFT" standard, or DN404, is a promising hybrid of ERC20/721 tokens. Unlike its predecessor ERC404, DN404 operates with two contracts allowing for actions as both fungible and non-fungible tokens without breaching any standards. A concept for this standard is available in an open source repo but it has not been audited yet.

MEVAUCTION, A NEW SYSTEM TO AUCTION BLOCKSPACE

This thread details a novel system called mevAuction to auction blockspace. mevAuction allows multiple winners per block while retaining compatibility with the existing standard, mev-boost. The new model splits blockspace into two sections, offering a greater level of accessibility and efficiency. The design is currently undergoing testing on the Holesky testnet.

meme now!

ARE SOLANA AIRDROPS STILL WORTH FARMING?

This post explores whether Solana airdrops are still worth farming given the ecosystem’s meteoric rise over the past few months and the farming competition that comes with that. It outlines 5 major Solana projects - Parcl, Kamino Finance, Beoble, Drift Protocol, and Tensor - and concludes that farming these protocols can still be worthwhile, especially for those with smaller portfolios.

SPECULATION ON NARRATIVES COMES IN WAVES

This post discusses the speculative waves that are associated with narrative trends, highlighting recent narratives like Friend.tech, Ordinals, and telegram trading bots. While there may be a sharp decline after an initial wave of hype, innovation-driven narratives often experience subsequent waves driven by different catalysts. Those interested in capitalizing on trends should monitor narrative developments post-initial hype to be prepared to ride a possible second wave.

PETER THIEL’S FOUNDERS FUND MADE $200 MILLION CRYPTO INVESTMENT BEFORE BULL RUN

Billionaire Peter Thiel's venture capital firm, Founders Fund, reportedly bought $200 million worth of bitcoin and ether between the end of Summer and early Autumn last year. The move represents renewed attention from institutional investors on cryptocurrencies, following the crash of 2022. It followed the hype that ensued after BlackRock initially filed for its Bitcoin ETF in mid-Summer of last year.

AS SPOT BITCOIN ETF VOLUMES CONTINUE TO RISE, BITWISE ASSET MANAGEMENT PREDICTS A HIGH CEILING FOR GROWTH

In this article, the CIO of Bitwise, one of the firms that rolled out a spot Bitcoin ETF, gives some interesting insight into what’s going on behind the scenes with these ETFs. The inflows into the new funds have beat expectations and the strength in demand is predicted to continue over the next 18 months. This could end up being the biggest ETF launch ever.

ON BTC FLOWS THIS YEAR

This post provides an analysis of what BTC inflows could look like this year, considering components like household income, ETF inflows, and GDP growth in the analysis.

PUDGY PENGUINS APPROACH BORED APE FLOOR PRICES, BUOYED BY CEO’S EXPANSIVE APPROACH

Pudgy Penguins have been on a tear over the past year and a half, propelled by Luca Netz’s innovative approach to IP, which helped turn the struggling collection around. They are now close to surpassing Bored Ape floor prices.

WINTERMUTE AND THE BLOCK LAUNCH CRYPTO PRICE INDEX

Wintermute and The Block teamed up to launch the GMCI 30 index to track top 30 cryptocurrencies by market cap.

UNIVERSAL PLASMA AND DA CHALLENGES

This article discusses some of the challenges that Layer 2s have with data availability and goes over one of the potential solutions to those challenges, Optimistic DA.

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