Bitcoin, Ethereum, Cosmos and more Week 48 2023
All things crypto, web3 and blockchain across all the Coin Clubs
TLDR: The SEC Set for Mass BTC ETF Approvals, White Whale Launch on Osmosis, Eclipse Fi Mainnet Launch Scheduled, Bankless and BanklessDAO to Seperate & Wormhole Secure Funding.
This week’s newsletter is sponsored by Elys Network:
Elys Network is a NextGen oracle-based perpetual trading and all-in-one DeFi platform and a decentralized suite of financial applications in the Cosmos ecosystem to feature:
Native leveraged perpetual trading capabilities powered by liquidity pools and liquidity providers
Leverage LP and USDC lending
All USDC-paired liquidity pools for optimal user experience and sustainability
Arbitrage-free dynamic weighted pools for best pricing
Multi-asset index pools for risk diversification
Seamless user onboarding and integrated fiat onramps using email or social accounts
System income drives a revenue sharing model to encourage long-term participation and growth. Elys is DAO-enabled and decentralized right from the start and driven by its core values.
Market & Airdrop Update
Before we dive in, make sure to check out our Market and Airdrop update
Bitcoin Highlights of the Week
MicroStrategy, a prominent player in the Bitcoin ecosystem, has acquired an additional 16,130 Bitcoin, bringing their total holdings up to 174,530 BTC!
The Lightning Network, designed to enhance the scalability and efficiency of BTC, is facing security concerns as a shift in focus towards cash flow generation for investors potentially compromises the network's security.
A number of TradFi players are actively working with the SEC to secure approval for their spot Bitcoin ETFs and these are anticipated to be mass approved January 10th.
El Salvador’s head of state, Nayib Bukele, recently announced that the nation’s bitcoin investment has turned profitable and has risen by $3.6 million, based on current bitcoin exchange rates.
Ethereum Highlights of the Week
Following the exploitative hack made on November 22 2023 where approximately $48.8 million were stolen, Kyber Network has announced it is planning to reimburse its affected users via grants.
The Starknet Foundation has moved quickly to quash speculation around screenshots of early iterations of a distribution portal for the upcoming launch of its native STRK ecosystem token.
Spool Finance launch V2 of its DeFi middleware product. The V2 platform is designed with attention to regulatory compliance, a key factor influenced by feedback from TradFi institutions that Spool aims to attract.
A long list of games have adopted Immutable's tech to provide faster and cheaper on-chain interactions than Ethereum's own mainnet as they enter the Epic Games Store.
Cosmos Highlights of the Week
White Whale have launched a new concentrated liquidity pool of $WHALE - $OSMO on Osmosis enabling more capital efficiency.
Eclipse Fi, a modular launch and liquidity protocol, have announced that $ECLIP TGE and the mainnet launch are happening on Dec 20th 2023.
BitMEX, the leading cryptocurrency derivatives exchange and inventor of the perpetual swaps, has officially listed $FET on their platform along with leverage options of up to 10x.
SubQuery, a visionary builder within data indexing, shares its vision on data indexing features and the future of decentralized application development across 110+ networks.
The founder's proposal to fork $ATOM, explicitly stating that it should not be considered as money, has given rise to AtomOne. This new chain is a response to the diverse opinions within the Cosmos community.
Other Highlights of the Week
Amid the ongoing controversy around cryptocurrency media Bankless and the associated decentralized autonomous organization (DAO), BanklessDAO, the founders of Bankless have suggested separating Bankless from BanklessDAO, and will put this forth at their next governance vote.
Wormhole, the cross-chain protocol, has secured $225 million in funding bringing the valuation to a total of $2.5 billion. The funding round, which has been the largest crypto venture capital investment this year, included participation from Coinbase Ventures, Multicoin Capital and Breven Howard, who will receive “token warrants” – rights to tokens at a future date.
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