Over the last couple of days we saw $1.69B stablecoins moved off derivative exchanges. Quite a rare event and open to many different interpretations. One thought is that traders believe we are in for more sideways chop and meaning more productive to deploy their capital elsewhere. Then again Total Crypto Market Cap is signaling we may break the downtrend?
Perhaps people are preparing their MetaMask balance for DeFi Summer 2.0? Gas prices have gone down significantly. And don’t forget Andre Cronje has multiple new protocols up his sleeve waiting to be deployed…
P.s. sorry for missing Friday’s issue, some unexpected things happening IRL – you know how it is! Might be less active for next week or so, playing it day by day.
- PayPal: In a big win for adoption, PayPal has publicly stated it intends to let customers withdraw crypto out of the platform, to third-party wallets, in the future. Which has led to speculation around an eventual PayPalCoin.
- Ethereum: Over the last 2 days, over 5 million ETH has been deposited into the staking contract. Currently, that’s worth $13 Billion. Circulating supply will keep decreasing, keep that in mind!
- Dogecoin: US congressman not amused by Elon Musk’s support for DOGE, reminds everyone he has a history of pushing up against the line with the SEC in terms of market manipulation.
- Privacy: Multiple privacy coins such as XMR, ZEC, and DASH are seeing price rises as US and Australia continue to issue warnings that they will crack down on people not reporting their cryptocurrency gains. Meanwhile, a former People’s Bank of China (PBoC) official stated that the digital Yuan is not about monitoring citizen’s payments… yeah we definitely believe that.
- Smartdex: Launched dual token farming where liquidity providers can earn rewards from partnered projects, first offering includes ALOHA/NIOX and DIGI/NIOX. And APY’s are in the 300% on the Polygon network. Check out our full reviews on NIOX, ALOHA, and DIGI.
- Marinade Finance: Currently live on Solana testnet, you can try out how easy it is to stake SOL in one click via the platform. I believe once released on mainnet a lot more SOL will be staked, as it’s currently quite difficult to do it via Sollet wallet. One to watch!
- Btesta: New leverage farming protocol on Binance Smart Chain, enables 2.5x yield farming with low borrowing rates for mainstream pools such as CAKE/BNB, BUSD/BNB, or BETH/BNB. If you’re looking to increase your farming strategy, take advantage!
- Ren: Launched a direct bridge to Polygon via RenVM, meaning users can now move native BTC onto Polygon as renBTC, no need to go through an Ethereum bridge. Check out our full review of Project Ren here.
- MistX: Team Alchemist introduced MistX, a FlashDEX powered by FlashBots and native MIST token. Essentially, it enables users to trade on Ethereum with front-running protection and no success, no fee. Very cool!
- Mercurial Finance: Another project live on Solana’s testnet, 20 users can earn 100 MET tokens for providing quality reviews and feedback from their experience. GIve it a go?
- Skale Network: Announced holders can now stake SKL using MetaMask via Hubble, a staking hub developed by Figment_IO. Learn more about SKALE’s layer 2 solution in our full review here.
- Hop Protocol: Showcased their multi-chain DeFi swapping solution can move assets from Polygon to Ethereum in just a couple of minutes, compared to hours of current bridges. Amazing!
- Volmex finance: Introduced their roadmap for v1 which will enable users to tokenize volatility, powered by Ethereum. Scheduled to launch in June on Polygon and Optimism, meaning low gas fees and fast transactions!
- 0x_NODES: Liquidity mining for BIOS token will launch tomorrow, June 1st. Don’t forget!
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
Playing stupids games, and you’ll get stupids answers. This Whack-a-mole game will requiring you patience and determination.
- Marvel: An exclusive Marvel Cards auction happened on DodoEX, created by KAKA NFT World. There are only 5337 of these Marvel-themed NFTs so collectors might be trying to grab them fast!
- Mintbase: Check out their new marketplace UI, very sleek! Also fixed their minting error on Ethereum, so get creating why gas fees are low.
- Ethlings: Published their security audit for the 4 separate smart contracts that power the project. Ethlings are NFTs that remain forever customizable, collectors can choose to change aspects of their Ethling such as different shoes or sunglasses.
- XP Network: Published an interesting read around Underlying asset ownership vs. NFT ownership, tries to get to the bottom of a major question in the industry – do we own them? Let us know your take on our community discord.