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Bitcoin broke its all-time high yesterday, eclipsing $69,000 before swiftly dropping to $59,700 after a sharp sell-off. This sharp drop led to over $1 billion in liquidations, one of the largest liquidation events since the last cycle. In the hours after this liquidation cascade, Bitcoin recovered to $62-$63k with overall leverage at a much lower level.
Grayscale has launched its first actively managed fund, the Grayscale Dynamic Income Fund (GDIF). The GDIF will initially own assets from nine blockchains, staking them to generate income. These cryptocurrencies include Aptos, Celestia, Coinbase Staked Ethereum, Cosmos, Near, Osmosis, Polkadot, SEI, and Solana. The earnings from staking will be distributed quarterly in U.S. dollars. The move is expected to introduce investors to the concept of multi-asset staking through a single convenient investment vehicle.
Polymer, an Ethereum rollup, has launched the Polyverse Testnet to improve blockchain interoperability. The three-phase testnet aims to encourage developers to bring liquidity onto the testnet from other rollups and build decentralized apps for end users. Not merely a third-party bridge, Polymer will serve as an ‘interoperability hub’ between Cosmos and Ethereum ecosystems.
This whitepaper from the Scroll team discusses the development of a new parallel zero-knowledge Virtual Machine framework. Instead of constant-sized circuits, the design leverages dynamic and data-parallel circuits to improve efficiency. It groups identical operations, allowing proof generation to occur simultaneously, reducing overhead.
Part 2 of the ‘State of Wallets’ report goes over Account Abstraction (AA), which has the ability to greatly improve the UX for wallet users. One big improvement AA offers is gasless sponsored transactions, so users do not have to fund wallets with ETH to get started. Additionally, AA standardizes the ability to bundle transactions, making it easier to chain different functionalities together. AA also allows users to sign transactions with passkeys on Apple or Google devices.
This thread provides ten tips for people going through their first cycle: reduce leverage exposure, have more exposure to cryptocurrencies, understand the power of narratives, don't chase sudden surges, avoid memecoins, separate project quality from token value, prioritize survival, minimize overtrading, be cautious with yield farming, and take profits.
Involving individuals in "information games" could potentially result in data monetization through crypto. Advancements in blockchain technology allow trust to be decentralized, fostering crypto-powered information games that improve decision-making and efficiency. This experimental approach could revolutionize how we manage and commercially benefit from information.
This article offers an insider's perspective on market manipulation, specifically in the crypto markets and with a focus on the phenomenon of 'Whale Watching.' It explores the role of influential or wealthy market manipulators, known as 'whales,' who cause significant market movements. The article lays out the various stages of market manipulation, including building positions, suppressing prices, testing, and implementing pump-and-dump strategies.
The SEC and ShapeShift have settled charges for operating an unregistered exchange and listing cryptocurrencies the SEC deemed securities.
This post provides a good overview of what has been going on at ETH Denver over the past few days, focusing especially on some of the most talked about memecoins.
Do Kwon's extradition to the U.S. over Terra's collapse is uncertain after a Montenegro court ordered a retrial.
Osprey Funds is seeking to sell or merge its bitcoin trust to avoid liquidation as its shares are trading below bitcoin's value.