Daily Notes 26-02-2024
Developments
Digital Asset Fund Flows Reach +$598 Million with Grayscale Experiencing Negative Flows
Last week's digital asset fund flows reached +$598 million. Grayscale maintained negative flows of -$432.9 million which were offset by inflows into other crypto products with iShares seeing +$543.5 million, Fidelity +$335.6 million, and ARK $79.3 million. Overall, Bitcoin saw +$569.5 million of flows and Ethereum +$16.8 million in flows.
Blast Mainnet Set to Launch on February 29th
Blast mainnet to launch on February 29th.
Frax Finance Proposes Revenue Sharing Model for FXS Staked Token Holders
The core team at Frax Finance will be proposing a revenue sharing model for FXS (Frax Share) staked token holders to the DAO.
Parcl to Launch Native Token PRCL in April with Enhanced Utility and Protocol Incentives
Parcl announced the upcoming launch of its native token, PRCL, which will be launching in April. Holders of PRCL will receive “enhanced utility across data and trading” and “incentives within the protocol ecosystem”.
MicroStrategy Acquires Additional 3000 BTC, Total Holdings Now at 193,000 Bitcoin
MicroStrategy bought an additional 3000 BTC at an average price of $51,831 in February. They now own 193,000 Bitcoin in total with a floating profit of $4.2 billion.
Ethena Increases USDe Lock Cap to $200 Million in Epoch 2 of Shard Campaign
Ethena’s epoch 2 for the shard campaign went live today, raising the USDe lock cap from $100 million to $200 million.
Avail Raises $27 Million in Seed Round Led by Founders Fund and Dragonfly
Avail, a web3 data infrastructure protocol headed by Polygon co-founder, Anurag Arjun, raised $27 million in a seed round led by Founders Fund (one founder of which is Peter Thiel) and Dragonfly.
Bitforex Halts Withdrawals After $56.5 Million Outflows, No Official Announcements Made
Bitforex stopped platform withdrawals after seeing $56.5 million of outflows from hot wallets on February 23rd.
25,000 ETH Staked Through Trust Wallet
25,000 ETH has been staked through Trust Wallet.
Arbitrum TVL Hits All-Time High of $3.122 Billion
TVL on Arbitrum reaches an all-time high of $3.122 billion.
Polygon zkEVM's Elderberry Upgrade Timelock to End on March 7th
Polygon zkEVM ‘s Elderberry upgrade timelock will end on March 7th.
Trending Assets
Below $100M MC by performance, on chain
GAMMA has surged by 60.93%, while BITCOIN (HPOS10i) and TOSHI have also seen notable gains, increasing by 39.79% and 32.17% respectively.
Above $100M MC by performance, on chain
AUDIO (Audius - a music-sharing protocol) has increased by 16.25%, with MUBI and OLAS also experiencing increases of 15.94% and 13.74%.
Above $1B MC by performance, on chain
LDO, APE, and MATIC have shown upward trends, recording rises of 8.98%, 8.46%, and 7.93% respectively.
Trading Volumes
USDe, ezETH, UNI, eUSD and PEPE dominated on-chain volumes.
TVL
TVL Above $10M
Over the past day:
ZKBase, layer 2 services on Bitcoin and Ethereum, TVL grew by 9,900%.
Rangers Bridge, bridge on Rangers Chain, TVL grew by 45%.
Fluid, money market protocol by InstaDapp, TVL grew by 27.58%.
Fees
MUX protocol fees earned are up by 123%, BSC fees earned are up by 20%, Uniswap V3 fees earned are up by 17.82%.
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