Daily Notes 05-03-2024
Developments
Over $1 Billion Liquidated in 24 Hours
$1.16 billion was liquidated in the last 24 hours. Of that sum, $856.91 million were long liquidations and $299.15 million were short liquidations.
Coinbase’s BTC/EUR Pair Experiences a Flash Crash
Coinbase’s BTC/EUR (Euro) pair flash-crashed 19% from €60,000 ($65,141) to €48,529 ($52,687) , a ~€11,000 ($11,942) disparity between BTC’s actual price of $63404.00 at the time.
Fraxtal (Fraxchain) Bridge Now Live
Fraxtal (Fraxchain) bridge went live.
Coinbase Experiences Technical Difficulties Again
Coinbase experiences technical difficulties for the third time in the last 7 days.
Bancor Technologies Go Live on Fantom
Bancor’s technologies are now live on Fantom through Graphene, an advanced trading DEX powered by Bancor’s Carbon DeFi, as well as Bancor’s Arb Fast Lane protocol.
MicroStrategy Stock Soars with Bitcoin’s Price Movement
MicroStrategy’s share price spiked to $1,391, an intraday increase of 27%, as BTC touched all-time highs before retracing to $1,178 (7.68% down on the daily).
MicroStrategy Plans $600 Million Convertible Notes Offering
MicroStrategy proposes a private offering of $600 Million of Convertible Senior Notes due to 2030, the proceeds of which will be used to “acquire additional bitcoin and for general corporate purposes”.
Binance to Cease Nigerian Naira Services
Binance will stop all Nigerian Naira (NGN) services by March 8th.
Optimism Reaches All-Time High
Optimism broke its all-time high reaching a high of $4.61. It is currently trading at $4.41.
Robinhood EU Lists Cryptocurrency Bonk
Robinhood EU listed Bonk.
Ring Protocol Reaches Over $100 Million in TVL
Ring Protocol, a DEX on Blast, reached over $100 million in TVL.
Fluent to Integrate with Celestia for High-Throughput Blockchain
Fluent, a general-purpose zkWasm L2, will be integrating with Celestia allowing for any developer to “deploy a zkWasm execution environment as their own high-throughput blockchain.”
Ethena Introduces sUSDe Pool on Pendle
Ethena released a sUSDe pool on Pendle with “5x shards per day”.
IO Research Raises $30 Million in Series A Funding
IO Research (io.net) raised $30 million at a $1 billion valuation in a Series A funding round led by Hack VC.
NIM Network to Airdrop Tokens to Dymension Holders
The NIM Network, who will be the first RollApp on Dymension and “combine the latest in blockchain technology with gaming fundamentals to create experiences that are both crypto-native and fun” will be airdropping 9% of NIM tokens to Dymension holders.
Trending Assets
Below $100M MC by performance, on chain
FINGER (meme coin on Blast) has increased by 335%, doginme has surged by 158%, and MIR has risen by 56.83%.
Above $100M MC by performance, on chain
ENS had a good day, is up 17.9%.
Above $1B MC by performance, on chain
STRK has increased by 20%, BEAM by 11%, and OP by 7.82%.
Trading Volumes
PEPE, SHIB, USDe, UNI, and crvUSD dominated on-chain volumes.
TVL
TVL Above $10M
Over the past day:
Keep3r Network, a decentralized keeper marketplace, TVL grew by 163%.
DefiChain Loans, over-collateralized loans on DefiChain, TVL grew by 68%.
DefiChain DEX, a DEX on DefiChain, TVL grew by 51.16%.
Fees
Ethereum fees earned are up by 57.75% to $34 million, Bitcoin fees earned are up by 92%, and Uniswap fees earned are up by 43.48%.
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