Scalable Insights

2022-09-10 19:00:01 Deals & Venture Rounds Digest

Deals
• The Nigerian authorities and Binance to create a free digital economic zone that will help accelerate blockchain implementation.
• The Sandbox partners with Renault Korea Motors

Project Launch
• The founder of the Hodl Hodl crypto exchange to launch a Debifi lending platform
• Franklin Templeton investment giant launches new Metaverse ETF, tracking Solactive Global Metaverse Innovation Index.

Venture Rounds
• Huobi Research: asian institutional investors are more interested in infrastructural ZK frameworks than in DeFi or GameFi
• Crypto firm 21.co raises $25m to value it at $2b
• Credix DeFi-project raised $11m
• Dust Labs NFT-startup raised $7m from FTX and Solana Ventures
• Blockchain Capital supported Fuel Labs startup with $80m

#DealsDigest Open / Comment

2022-09-09 18:10:00 Fresh Weekly News Digest

Blockchain
• September 22 is the activation date of the Vasil hard fork in the main Cardano network
• Glassnode: there’s a high chance of Ethereum supply deflation after the Merge
• CoinShares: record inflows in to short-bitcoin investments totalling $18m

Security
• Aurora Labs paid white hackers $2 million for two bugs found
• Attackers hacked the Twitter account of the auditing firm PwC Venezuela to promote a fake XRP distribution on behalf of Ripple CEO
• The Avalanche-based Nereus Finance DeFi platform faced an arbitrage attack 370 000 USDC was stolen
• The attackers compromised The Sandbox Instagram account and placed a phishing link in its description

Exchange
• Mercado Bitcoin exchange operator has laid off another 15% of its staff
• Binance forcibly convert the users’ USDC, USDP and TUSD to BUSD

Tech
• X-rays, AI and 3D printing bring the lost Van Gogh artwork "The Two Wrestlers” to life (on the pic)

#NewsDigest Open / Comment

2022-09-08 18:13:00 Faces Of Crypto: Willy Woo

Willy Woo has been one of the most active cryptocurrency analysts, even long before the masses learned anything about Bitcoin. Woo’s explorations of the cryptocurrency space led him to create some of the most accurate Bitcoin pricing models.

The metrics came easy to him thanks to his 15 years of experience in the financial industry. For example, the famous Bitcoin NVT ratio. This metric determines Bitcoin’s price-earnings ratio based on its network’s worth and the amount of value being transferred across it. Woo’s Bitcoin NVT ratio featured in leading global publications and research reports.

Now, Woo regularly provides his 988,800-plus followers on Twitter with day-to-day Bitcoin on-chain updates. The analyst runs Woobull, a subscription-only market research service. He has also been a seed-level equity investor in several crypto companies, including Exodus Wallet, Radix DLT, and LVL.

Willy Woo's Twitter: @woonomic

#FacesOfCrypto Open / Comment

2022-09-07 19:52:06 Scalable Feature: Scalable & Resilient

Excuse the tautology
You can ask why we draw so much attention to these characteristics. The answer is because they make a crypto exchange business successful in the long-term!

While the exchange business evolves, including increased website traffic, transactions, and trading volume growth, a platform can face high overload and not sustain this development, causing delays and downtime.

That’s what we prevent with our solutions. Scalability is one of our strongest points — the foundation of our company name and brand. Our products cover all the factors that make a cryptocurrency exchange scalable.

What are these factors you ask? We prepared a small article covering this question. Take a look and share your ideas in the comments
What Makes a Cryptocurrency Exchange Scalable?

#ScalableFeature Open / Comment

2022-09-06 18:13:00 Traditional Finance Embrace Crypto: Itaú Unibanco

Brazil’s largest private bank Itaú Unibanco, announced that it’s to offer a crypto trading platform to its customers.

Also, it will offer tokenization services through a digital assets unit, that will allow customers to issue tokens backed by real-world assets, acting as a platform to facilitate their trading.

The bank will act as a middleman between companies wanting to take their assets to the blockchain and the market. The tokens created will be tradable only within the exchange of the company.

Moreover, Itaú Unibanco was chosen to develop Brazil’s real-pegged CBDC - digital Real.

#ScalableCase Open / Comment

2022-09-05 18:13:00 University of Cambridge: Bitcoin Electricity Consumption Comparisons

• Bitcoin electricity consumption is 100 TWh. The Bitcoin share in the world's electricity production and consumption is around 0.42% and in the world’s energy production - 0.14%.

• Bitcoin’s closest and most referenced real-world analogue is gold. While they arguably share utilitarian similarities as stores of value, gold and Bitcoin also demonstrate common consumptive traits. According to CCAF, Bitcoin energy consumption is 94.80 TWh, compared to gold’s 131 TWh.

• Let’s compare Bitcoin's energy consumption with different industrial (raw material production) and residential uses (appliance or equipment utilization) segments (see the pic).

#Research Open / Comment

2022-09-03 18:13:00 Weekly Deals & Venture Rounds Digest

Deals
• CME Group announces launch of Euro-denominated Bitcoin and Ether futures
• Coinshares analysts pointed to a lack of enthusiasm among crypto fund clients

Venture Rounds
• ​​Polygon co-founder launched a $50 million fund to invest in Web3 projects
• Web3 game developer Xterio raises $40 million in SAFT sale
• Mobile game developer Limit Break raised $200 million to implement NFT
• Animoca Brands raises $100 million from Temasek
• Reddit co-founder to raise $177.6m for new crypto fund
• Stacked, the Web3 version of Twitch, raises $12.9M from Pantera Capital
• SPACE ID completes seed funding led by Binance Labs

#DealsDigest Open / Comment

2022-09-02 20:00:07 Fresh Weekly News Digest
to keep you posted!

Exchanges
• Forbes: more than half of all Bitcoin trades are fake
• Crypto.com accidentally transfers $10.5m to woman instead of $100
• The ex-head of the Turkish crypto exchange Thodex was detained In Albania
• FTX will help South Korean Busan launch a crypto exchange
• Indonesian authorities are to launch a Bitcoin exchange

Regulation
• Singapore authorities have initiated a vetting of crypto companies.
• Japanese authorities will consider tax breaks for crypto startups
• The Iranian authorities allowed to pay for imports with cryptocurrency
• Georgia to update crypto regulation to comply with EU rules

Security
• KyberSwap frontend was exploited. The team identified and neutralized the hacker successfully. Users lost 265 000 USDC

Blockchain
• The complexity of Bitcoin mining increased by 9%

Have great weekend

#NewsDigest Open / Comment

2022-09-02 17:01:26 Our Client Crypto Exchange FMFW Turns 3

FMFW achieved so much during these years. We’re happy to see them grow!

Take a look at our Case Study to learn their success story
How to save $1,5m on a launch of a crypto exchange that will sustain more than $5 Billion trading volumes per day?

Happy Birthday, FMFW! Free the Money, Free the World! Open / Comment

2022-09-01 18:14:43 Kaiko Research: Markets Tumble Following Hawkish Fed Comments

Key Takeaways:

Price Movements: Bitcoin dropped below $20k for the first time since mid-July following a hawkish Fed speech that roiled equity markets.
Market Liquidity: Binance’s BTC market share hit a new high nearly two months after it eliminated trading fees.
Derivatives: USDT-USD perpetual futures funding rates have steadily risen over the past month, suggesting a drop in bearish bets for the stablecoin.
Macro Trends: Bitcoin has underperformed the Nasdaq 100 since the start of 2022.

Trend of the Week
• Coinbase enters the liquid derivative staking market with cbETH.
Price Movements
• Privacy coins perform in line with the broader market since Tornado Cash sanctions.
• Risk assets sell-off following Fed speech.
• Ether’s outperformance has stalled (see the infographics).
Market Liquidity
• Binance’s market share hits a new high.
• Bitcoin bid-ask spreads remain stable despite sell-off.
Derivatives
• Funding rates on USDT-USD contracts turn positive.
• Open interest in BTC surges as short positions build up.

#Research Open / Comment