Daily Notes 02-01-2024
Developments
Orbit Chain Funds Remain Unmoved After Hack
Hacked Orbit Chain funds worth $81.5 million remain stagnant in the hacker's wallet.
Grayscale Amends BTC ETF Application
Grayscale amended the S-3 form for their BTC trust to spot BTC ETF conversion, notably omitting an Authorized Participant.
Arbitrum Token Hits All-Time High
Arbitrum’s native token (ARB) and Optimism's token reached new all-time high prices.
Fidelity Sets Bitcoin ETF Fee
Fidelity has set their Bitcoin ETF fee at 0.39%, with Jane Street as the Authorized Participant.
Jupiter Prepares for JUP Airdrop
Jupiter’s JUP airdrop is scheduled to begin in late January.
MakerDAO Announces Token Rebranding
MakerDAO is rebranding to a new token, offering an exchange rate for MKR holders.
Arbitrum’s TVL Surpasses $10 Billion
Arbitrum’s total value locked (TVL) exceeded $10 billion for the first time.
PancakeSwap Burns $29M of CAKE
PancakeSwap has burned $29 million worth of its CAKE token.
Mountain Protocol's USDM Supply Increases
Mountain Protocol’s USDM supply has increased to $140 million, with a significant portion moving to Manta.
Trending Assets
Below $100M MC by performance, on chain
FLC, (Flooring Lab Credit - a fractional NFT protocol), is up 75%, RUNE is up 60%. MAV had a good day and is up 20.17%.
Above $100M MC by performance, on chain
PERP is up 26.84%. SKL (Skale Network), is up 24.14%. Notably, as of November 30th 2023, according to CoinGecko, Skale had 230K active users.
Above $1B MC by performance, on chain
MKR had a great day, and is up 12.38%, likely due to the potential redenomination of the token (1:24,000) as NGT.
Trading Volumes
MKR, LINK, AAVE and MUBI dominated on-chain volumes.
TVL
TVL Above $10M
Over the past day:
Gravita Protocol, a lending and borrowing protocol on Ethereum, TVL is up 32.76%.
Sonic, DEX on ICP, TVL grew by 30.76%.
Renzo, restaking on Ethereum, TVL grew by 22.51%.
Fees
Bitcoin fees earned are up 37.17% to $15.2 million. Curve DEX fees earned are up 163%. Uniswap V3 fees earned are down 71.57%.
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