Daily Notes 29-02-2024
Developments
Bitcoin’s Spot Trading Volume Reaches $35.05 Billion
Yesterday, Bitcoin’s spot trading volume hit $35.05 billion.
BlackRock Partners with B3 for Spot BTC ETF Launch in Brazil
BlackRock will be partnering with the Brazilian exchange B3 to launch their spot BTC ETF in Brazil.
8 Spot BTC ETFs Add 12,712 BTC Totaling $770 Million
8 Spot BTC ETFs together added a net 12,712 BTC ($770 million) today.
Binance Returns $4.4 Billion in Misplaced User Deposits
Binance has returned $4.4 billion of bad user deposits (depositing not listed tokens etc).
Blast Mainnet Set to Go Live at 1 pm PST on February 29th
Blast will go live at 1 pm PST February 29th.
Robinhood Wallet Integrates Arbitrum for Low-Fee Token Swaps
Robinhood’s wallet integrates Arbitrum to let users easily swap tokens at a low gas fee.
Alchemy Introduces Embedded Accounts with Web2 Authentication
Alchemy launched embedded accounts which lets users use web2 authentication methods like email plus password, and also recover their account via email whilst also sponsoring user gas fees.
PORTAL Token Staking Begins Tomorrow
PORTAL token staking will start tomorrow.
Parallel Network Announces Early Access to Omni-Chain L2
Parallel Network to launch early access for “the first omni-chain L2 with unified liquidity, native yield, NFT yield, staking and more” in the next 1 to 2 weeks.
MarginFi to Launch YBX Stablecoin Backed by Liquid Staking Tokens
MarginFi introduced YBX, a yield bearing stablecoin backed by liquid staking tokens jitoSOL, mSOL, bSOL and LST.
SEC Challenges Terraform Labs' $166 Million Legal Retainer to Dentons
SEC objects to Terraform Labs paying a $166 million retainer (advanced payment) to the Dentons law firm.
Sushi Teases Upcoming Collaboration with Blast
Sushi tweeted “Sushi x Blast, coming soon”.
Aave to Assess Addition of Kelp DAO’s rsETH Token
An Aave temperature check proposal to add Kelp DAO’s liquid restaking token, rsETH, to Aave V3 will commence on March 1st.
Rarible Launches Comprehensive API for NFT Trading
Rarible launched the Rarible API. The API solution includes a “real-time NFT indexer, aggregated order book, multi-chain support, and powerful trading SDK”.
QuickNode Debuts Streams Beta for Enhanced Blockchain Data Access
QuickNode launched the streams beta which ensures blockchain data is accessible and easy for web3 engineers.
Trending Assets
Below $100M MC by performance, on chain
doginme soared by 101%, TURBO rose by 64.45%, and PNK increased by 47.21%.
Above $100M MC by performance, on chain
PEOPLE is up by 54.71%, SPELL gained 20.92%, and SHIB moved up by 19.63%.
Above $1B MC by performance, on chain
SHIB experienced an increase of 19.62%, FET went up by 14.13%, and GRT advanced by 13.81%.
Trading Volumes
USDe, eUSD, crvUSD, UNI, and PEPE dominated on-chain volumes.
TVL
TVL Above $10M
Over the past day:
Arbitrum Nova Bridge, TVL grew by 344%.
Alpaca Finance 2.0, a money market protocol, TVL grew by 53.23%.
Kinza Finance, a money market protocol, TVL grew by 47.85%.
Fees
Uniswap V3 fees earned are up by 41.65%, Aave V3 fees earned are up by 408% (following BTC's flash crash to $57k yesterday), and zkSync Era fees earned are up by 10.56%.
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