Weekly newsletter - Crypto Daily™ - Issue #2

It has been an extremely turbulent week for nearly all cryptocurrencies, but Bitcoin (BTC/USDT) also lost quite a lot of value in relation to altcoins and its current dominance sits at 38.5% (with Ethereum dominance at 20.6%). The King of Crypto’s market capitalization has additionally fallen below $1 trillion (by $58B), which is the lowest reading for two months. 

Cryptocurrencies are pretty great. They provide an opportunity for individuals to take back their wealth from the traditional banking industry. They decentralize control of our world’s economic policies, promote free trade without interference or regulations - the list goes on.

SHIBA has been in a gradual decline for a long time, the chart shows attempts to break out of the price but the influence of BTC on the market is huge and only a major event can change the direction of the trend

The $WALLET token is the crypto industry’s first governance token for a DeFi-native wallet. 

The launch introduces five key features to the DEX: combined automated market making and order book liquidity; trading rewards paired with liquidity mining; full transactional guarantees; a ‘real limit’ for trades and stop-loss orders, and low transaction fees across its platform.

1inch, the decentralised DEX aggregator, has just closed a $175 million Series B funding round led by Hong Kong-based Amber Group. The company is now valued at $2.25 billion.

On this week’s episode of Terra Weekly. First, let’s look at the price of Luna, which is up almost 30% this week to around the $67 mark today. This is pretty remarkable considering the broader crypto market is down a lot. In comparison, Bitcoin is down 11% and Ethereum is down 2%. This is significant as it shows a de-coupling of Luna from the broader crypto markets, a great sign of health. 

Canada is witnessing the launch of multiple Exchange-Traded Funds (ETFs), as Fidelity Investments launches a spot Bitcoin ETF, and Purpose Investments launches two BTC and ETH Yield ETFs in the country.

As the crypto bull market prepares itself for potentially the final leg to the blow-off top, blockchain gaming is jockeying for position to become the absolute tip of the spear in the bull run, and Thetan Arena is setting this trend by becoming the top play-to-earn app on the Apple App Store.

Popular gamified Non-Fungible Token (NFT) platform Starly recently announced a successful Pre-initial Decentralized Exchange Offering (IDO) finance round that raised $6.1 Million. 

Almost a year after launching its $120 million Venture Fund I, South Korean firm Hashed is doubling down on Web3 growth, raising $200 million for its Hashed Venture Fund II in support of the blockchain ecosystem.