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WEEKLY ALPHA LEAK &#x1f6b0; Hey, Kid - We’re Calling Them “Digital Collectibles” NowWeek of October 22-28, 2022Everyone and their grandmother has been talking about Reddit NFTs this week and you know what? There’s something deeper there about the next potential iteration of crypto. Let’s explore - narratives in motion.TL;DR:&#x1f4ad;Narratives in Motion - Rebranding NFTS, Reddit Digital Collectibles and Web2.5&#x1f48a; Top Bullets: Elon Musk Twitter deal, a16z&#39;s fund lost 40% in first half of 2022, Pantera down 71%, Meta’s Reality Labs lost $3.7B in Q3, Binance launched native oracle service on BNB Chain, Bitcoin miner Core Scientific may seek bankruptcy protection, Google cloud-based node engine service for ETH devs, Circle partnered with Axelar for USDC cross-chain applications, Metavertu Web3 smartphone, Mastercard partnership with BitOasis for MENA region crypto cards, ⁠CashApp adds support for Bitcoin Lightning Network, Visa and Western Union crypto trademarks&#x1f4ca; Data Highlights: Total Crypto Market Cap just shy of $1B, DeFi TVL ~ $54B, Nansen Smart Money did not follow the recent crypto pump - seems they sold into the pump. Stablecoins on exchanges going down, Green week for Top Protocols by DeFi TVL, Top Blockchains by TVL Spotlight: Algorand TVL near ATH ~ $300M, Optimism TVL near ATH ~ $975B. Arbitrum near lows ~ $1B, Tokemak explosion in revenue, In the past month: Ethereum: down 3% in NFT sales volume, Solana: down 43% in NFT sales volume&#x1f3e6; DeFi Highlights: Merit Circle to burn 20% of token supply, NEAR’s stablecoin USN shutting down, MakerDAO to custody $1.6B with Coinbase Prime, MakerDAO to break up into smaller MetaDAOs, BNB Chain $10M gas fee incentive, SushiSwap restructures to be managed by 3 organizations, PancakeSwap deploying on Aptos, Aave stETH earn strategy through Oasis .app, Compound to prevent users from being able to lend illiquid assets, Frax Finance liquid staking Frax Ether&#x1f5bc; NFT/Metaverse/Gaming Highlights: Apple to restrict apps from using NFTs to avoid 30% App Store fees, Reddit NFTs surge, X2Y2 blocks NFT aggregator Blur, LooksRare optional NFT creator royalties, Twitter users to buy/sell/display NFTs through tweets, Metaplex new NFT asset class enforces on-chain creator royalties, Azuki $2.5M auction for 8 Golden Skateboard NFTs, Otherside metaverse to launch in 2023, NFTrade integrates with Immutable X, Singapore court rules NFTs are property&#x1f4b8; Exchange Highlights: FTX could launch its own stablecoin, FTX API keys connected to 3Commas exploited, Binance $500M commitment to Elon/Twitter deal, South Korean city deal with Crypto .com and Gate .io to grow blockchain ecosystem, Bitmex CEO departs, FTX lists Japanese Yen perpetual futures, Blockchain .com may raise money at a significant discount, Huobi to to delist HUSD and convert to USDT&#x1f468;‍⚖️ Economic/Government/Regulatory Highlights: 63% of ETH block transactions compliant with OFAC sanctions, Judge denied a motion to dismiss the wire fraud charges against former OpenSea employee, Bithumb owner faces 8 years in prison on charges of $70M fraud, UK&#39;s next prime minister is crypto friendly, Tel Aviv Stock Exchange blockchain-based digital asset trading platform, Singapore proposed restricting leveraged crypto trading, Hong Kong plans to allow retail investors to trade crypto, Hong Kong/Japan/UAE/Turkey CBDC developmentsKeep Reading:<a href="https://www.m6labs.co/p/weekly-alpha-leak-hey-kid-were-calling" rel="noopener noreferrer nofollow">Read Here &#x1f448;&#x1f3fd;</a>

Hey, Kid - We’re Calling Them “Digital Collectibles” Now

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