Blockchain Explained

2024-04-05 18:29:55 Crypto VC investments increased 38% in first quarter breaking 2 year trend

Crypto venture capital (VC) investments increased in the first quarter of 2024, according to a survey published by Crypto Koryo on April 4. The analyst measured growth across two distinct metrics. VCs invested nearly $2 billion in crypto projects, marking an increase of 38% from Q4 2023. VCs also invested in 250 crypto projects, representing an increase of 49% from the previous quarter. The results are some of the best since investments peaked sevenfold at $14 billion in Q4 2021.

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2024-04-04 20:44:56 VanEck predicts Ethereum Layer 2 tokens will reach $1 trillion valuation by 2030

VanEck calculated its $1 trillion base case valuation for Layer 2s by applying a free cash flow multiple of 25 to its expectations of future cash flows, assuming an Ethereum ecosystem smart contract market share of 60%. VanEck estimated the cash flows by projecting transaction revenues (inclusions of transactions on a blockchain) and maximal extractable value (revenue derived from the ordering of transactions) for the Layer 2 networks’ anticipated total addressable market.

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2024-04-03 09:44:57 Grayscale falls behind in ETF outflows first time since launch as ARKB loses $87.5 million

Grayscale Bitcoin Trust (GBTC) recorded lower outflows for the first time since the launch of spot Bitcoin ETFs on April 2, after ARK 21Shares (ARKB) posted outflows amounting to $87.5 million, according to Coinglass data. Comparatively, GBTC recorded the lowest outflows since March 12 at $82 million. The data for the other ETFs, including IBIT and FBTC, was not public as of press time. GBTC’s currently low outflows are notable because the fund consistently sees high outflows.

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2024-04-02 20:24:57 Crypto.com to launch platform in South Korea following local exchange acquisition

Global digital asset exchange Crypto.com is launching its retail trading services in South Korea on April 29, according to its announcement on Tuesday. “We are incredibly excited to be launching the Crypto.com App for retail users in South Korea — a market of tremendous importance to the growth of our business, and one in which consumers are very interested in crypto,” said Eric Anziani, president and chief operating officer of Crypto.com, in the announcement.

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2024-04-02 05:59:58 Coinbase CFO believe Ethereum is unlikely to be classified as a security

Coinbase CFO Alesia Haas believes that “Ethereum (ETH) is not a security,” and regulators are unlikely to label it as such. Haas shared her view on the matter during an interview with Fortune and pointed to the fact that both the SEC and the CFTC have said the same thing in the past. Some companies in the US have reportedly received subpoenas in which the SEC identifies ETH as a security based on its shift to proof-of-stake, according to three anonymous sources.

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2024-04-01 17:04:58 FTX bankruptcy estate aiming to begin repaying creditors by the end of 2024

The FTX bankruptcy estate has set a goal to begin repaying customers by the end of 2024, according to notes from a meeting of FTX Digital's Joint Official Liquidators in the Bahamas. To that end, both the Chapter 11 Debtors and the Joint Official Liquidators "have a shared goal to make the first interim distribution by the end of 2024 to creditors with admitted claims and satisfactory KYC documentation," the notes, from the meeting on Mar. 15, read.

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2024-03-30 19:54:59 Grayscale introduces crypto investment fund that prioritizes staking rewards

Grayscale Investments has announced an investment fund tailored to sophisticated clients eager to expose their portfolios to income generated from staking cryptocurrency tokens. According to a recent statement, the Grayscale Dynamic Income Fund is only available to clients with more than $1.1 million assets under management or a net worth of more than $2.2 million.

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2024-03-29 20:40:00 Base network TVL exceeds $3 billion, with daily users surpassing 5 million

The Ethereum layer-2 network, Base, has witnessed a remarkable surge in assets locked, soaring by approximately 200% over the last month to over $3 billion, according to L2beat data. Furthermore, on-chain data shows that the increased TVL is matched with an ever-expanding user base. According to the Dune analytics dashboard curated by Watermeloncrypto, Base’s daily active users have surpassed 5 million this week, with the network’s total revenue already exceeding $36 million.

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