Daily Notes 04-03-2024
Developments
Significant Increase in Digital Asset Fund Flows
Last week's digital asset fund flows reached net +$1837.2 million. Grayscale maintained negative flows of -$1453.9 million which were offset by inflows into other crypto products with iShares seeing +$2050.6 million, Fidelity +$708.6 million, and ARK $224.9 million. Overall, Bitcoin saw +$1727.6 million of flows and Ethereum +$84.7 million in flows.
Coinbase Experiences Another Outage
Coinbase users experienced another outage today.
Ethena and ACI Propose sUSDe Onboarding to Aave DAO
Ethena and the Aave Chan Initiative (ACI) launched a temperature proposal to the Aave DAO to onboard Ethena’s sUSDe (staked USDe) to Aave V3 on Ethereum.
Omni Network Secures $600 Million Staked ETH from Ether.fi
The Omni Network will receive $600 million of staked ETH in a delegation deal with Ether.fi. The ETH will be used to secure Omni’s Layer 1.
ENS DAO Considers Deployment on Solana
An ENS DAO member published a temperature check proposal to deploy ENS on Solana.
Tangible Aims for Tokenized Real World Asset Layer 2 Launch
Tangible (now building re.al), the issuers of a stablecoin backed by real estate, will be aiming to launch their tokenized real world asset focused layer 2 “in the next 2 weeks”.
Sushi Now Live on Blast
Sushi went live on Blast.
Justin Sun Announces TRON-Based Inscription Market Launch
Justin Sun, founder of Tron, tweeted that “the inscription market based on TRON is about to launch, developed by the @apenftorg”.
zkLink Introduces zkLink Nova, A Layer 3 Aggregator
zkLink introduced zkLink Nova, a Layer 3 that will aggregate fragmented liquidity across any Ethereum Layer 2.
Dymension Announces 'RollApp Draft' for DAO Approved RollApps
Dymension launches “RollApp Draft” to onboard DAO approved RollApps who will receive “funding, community support, awareness, and liquidity incentives for their token pair” as well as all the relevant infrastructure.
Trending Assets
Below $100M MC by performance, on chain
Memecoins have been dominating the broader markets. MIR has surged by 88.61%, PUMP by 80.41%, and MIA by 68.78%.
Above $100M MC by performance, on chain
ELON has a good day, is up by 37.53%, BONE by 36.11%, and DOG (fractionalised DOGE NFT) by 29.28%.
Above $1B MC by performance, on chain
SHIB is up by 50.68%, JASMY by 10.75%, and APE by 7.09%.
Trading Volumes
PEPE, USDe, crvUSD, SHIB and eUSD dominated on-chain volumes
TVL
TVL Above $10M
Over the past day:
SynFutures V3, a derivatives protocol, TVL grew by 57.49%.
Agni Finance, a Mantle based DEX, TVL grew by 29.52%.
Kine Finance, general purpose liquidity pools, TVL grew by 26.89%.
Fees
Bitcoin fees earned are up by 14.54%, Base fees earned are up by 13.36%, and zkSync Era fees earned are up by 25.13%.
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