Daily Notes 22-01-2023
Developments
Digital Asset Fund Flows Show Net Outflow Last Week
Last week's digital asset fund flows totalled -$20.8 million. Grayscale flows reached -$228 million but were offset by inflows into other crypto products (iShares +$931 million, Fidelity ETFs +$860 million).
Bitcoin saw -$24.7 million of flows, Ethereum -$13.6 million in flows and Solana -$8.5 million.
FTX Estate Reportedly Sells 22 Million GBTC Shares
The FTX estate reportedly sold all 22 million of their GBTC shares (~$1 billion), approximately 36% of all GBTC ‘s outflows.
Over $237 Million Liquidated in Crypto Markets in 24 Hours
$237.21 million has been liquidated in the last 24 hours. $208.87 million were from longs and $28.34 million from shorts.
Lido's wstETH Officially Launches on Mantle
Lido’s wstETH formally launched on Mantle.
Nethermind Fixes Critical Bug in Ethereum Execution Client
Nethermind fixed a critical bug in their execution client that caused users to fail to process blocks on Ethereum. Nethermind’s execution client is used by 8.18% of Ethereum validators.
Alameda Research Drops Lawsuit Against Grayscale Investments
Alameda Research dropped their lawsuit against Grayscale Investments which “accused Grayscale of charging high fees and refusing to allow investors to redeem their shares from its two crypto-focused trusts”.
Trending Assets
USH, up 10%, and EQB, up 7%, performed well today. MAV is up 9% and SSV is up 1%. Large caps underperformed.
Trading Volumes
TVL
TVL Above $10M
Over the past day:
RenVM, bridge, TVL grew by 196%
Thala CDP, CDP on Aptos, TVL grew by 33.55%
W3swap, DEX on Pego, TVL grew by 27.75%
Fees
Opensea Seaport fees earned are up 17.73%, Curve DEX fees earned are up 252% and Ethereum fees earned are down -43%.
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