What are this week’s highlights?
In this episode, Ryan Adams and David Hoffman talk about market state, FOMC meeting, L1s, L2s, Bitcoin NFTs, SBF, FTX and more.
Read our notes below to learn more.
Markets
$BTC started the week at $22,750 and up 5% which is at $24,000 at the time of recording.
$ETH started the week at $1566 and ended the week at $1,700 at the time of recording.
$ETH/$BTC ratio started the week at 0.069 and ended the week at 0.07.
Global cryptocurrency market cap reached $1.14T.
$ETH supply is at -0.014%/year.
$2.8B worth of $ETH selling pressure was removed because of the merge.
The Fed raised interest rates by 25 basis points.
As soon as the Fed news broke, markets pumped overall.
Jerome Powell said it's premature to declare victory against inflation.
$DXY is down 4 months in a row.
Euro-zone inflation eases more than anticipated and is now at 8.5%.
$CANTO went up from $35.5M market cap to $239M market cap from Jan. 3 to Feb. 2.
News Highlights
dYdX vesting token unlock being delayed; turns out that they did not enforce vesting schedules on their smart contracts and the details were broken down by Spreekaway in a thread.
There’s a new protocol called Ordinals that converts individual Satoshis into a NFT that has caused a bunch of controversies and the $BTC maxis don’t like it.
Ordinals are inflating the block size and weight of $BTC.
FTX creditor list was released and it includes a bunch of star athletes, crypto firms, state governments and more.
A U.S. judge ruled the identities of the two people, who helped secure SBF’s $250M bail, can be made public.
Federal judge bars SBF from contacting FTX and Alameda employees via Signal.
TODAY’S EDITION IS BROUGHT TO YOU BY ALLUO
Get super-easy single-sided exposure to Curve, Convex and Frax.Convex pools and access complex strategies normally out of reach.
Alluo; DeFi for everyone: App.alluo.finance
L1s
$ETH OFAC-compliant blocks are now less than 60%.
Ethereum staking withdrawal testnet for the Shanghai upgrade has gone live.
Optimism announced they will be launching their new mainnet called “Bedrock” which is the next crucial step towards a modular, simplified and performant multi-chain future.
Lido voted as to whether or not they should self-limit back in June last year and 99% didn’t agree to it.
Rocketpool put up a vote in January on whether or not they should self-limit and 100% of the community agreed.
ImmutableX releases a passport which is an instant wallet onboarding that will have a passwordless sign-on and automated wallet creation features.
An ex-staff of Harmony claims that executives mismanaged funds and bullied workers.
Other Updates
OpenSea is enforcing royalty philosophy and Blur doesn’t enforce royalties.
Collections with royalty enforcement on OpenSea cannot be traded on Blur.
Worldcoin is opening up the hardware powering the Orb.
Celsius Network has published the names of users that are eligible for withdrawal.
Elon Musk wants the Twitter payments system to be built with crypto in mind.
The Amazon NFT initiative is coming soon.
Check out these important links
TODAY’S EDITION IS BROUGHT TO YOU BY ALLUO
Get super-easy single-sided exposure to Curve, Convex and Frax.Convex pools and access complex strategies normally out of reach.
Alluo; DeFi for everyone: App.alluo.finance