Daily Notes 16-11-2023
Today’s newsletter is sponsored by Pendle Finance.
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Developments
South Korea’s National Pension Service (NPS) purchased $20 million worth of Coinbase shares (COIN). Relayed through their Q3 2023 report, this is the first investment the NPS has made in any digital asset related company.
It is of note that the NPS’ policy does state that it will never invest directly in crypto assets.
PancakeSwap Releases Gaming Marketplace
PancakeSwap has released a gaming marketplace which will allow developers to integrate CAKE, PancakeSwap’s native token, and publish their games for players to enjoy. Additionally, with PancakeSwap’s multi-chain presence and 1.9 million monthly user base, developers can “ensure the broadest reach for the games”
BlackRock has officially filed for a spot Ether ETF with the SEC.
Philippines Government Tokenizes Bonds
The Philippines will be offering $179 million of 1 year tokenized treasury bonds. Its interest rate is to be determined on the 20th November 2023 through book building.
The bonds will be due in November 2024 with a minimum denomination of $180,000.
Polygon’s gas fee skyrocketed to as high as 4000 gwei as the number of transactions on the network peaked to its highest since 2021 at 6.1 million transactions. This inflow is likely to be due to Polygon’s inscription event of PRC-20 POLs.
Bitcoin Ordinals NFT ‘Taproot Wizards’ announced that they have raised $7.5 million dollars in a round led by Standard Crypto. Co-founder of Standard Crypto, Alok Vasudev, has also said that “this investment has similar potential to the one Yuga Labs made in Bored Ape Yacht Club”.
Tether to Invest in Bitcoin Mining
Tether will be investing $500 million over the next six months to build out its own Bitcoin mining facilities in three countries.
Aave companies will be renamed to ‘Avara’ as it acquires a crypto wallet called “Family”.
The Aave protocol and Aave Labs names will remain unchanged but exist under Avara.
Trending Assets
Below $100M MC by performance, on chain
RUNE had a good day, and is up 5.70%, followed by REN, which is up 1.39%.
Above $100M MC by performance, on chain
CRV is up 0.86%.
Above $1B MC by performance, on chain
Large caps underperformed over the past day. AVAX has been relatively strong.
Trading Volumes
crvUSD and RLB continue to dominate onchain trading volume.
TVL
TVL Above $10M
Over the past day:
Maple, multichain RWA, TVL grew by 85.46%.
Linea Bridge, TVL grew by 21.02%.
WOO X, CEX, TVL grew by 16.60%.
Fees
Curve DEX fees earned are up 58.98% over the past day. Trader Joe fees earned are up 37.14% and are in the top 20, following increased volume on Avalanche C-Chain.
Articles / Threads
New $STFX Staking Utility — Increased Performance Fees
STFX has introduced staking tiers that allow traders who stake the $STFX token to increase the performance fees they earn from 15% up to a maximum of 20% on each trade they manage. This represents a potential 33% increase in profits for staking traders.
Disclaimer:
The information and services above are not intended to and shall not be used as investment advice.
You should consult with financial advisors before acting on any of the information and services. ASXN and ASXN staff are not investment advisors, do not represent or advise clients in any matter and are not bound by the professional responsibilities and duties of a financial advisor.
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