Monthly Archives: December 2021

Coinbase baut Krypto-Portfolio mit 500 Millionen US-Dollar auf

Coinbase
Coinbase kauft Kryptowährungen im Wert von 500 Millionen US-Dollar und investiert zukünftige Gewinne in ein Krypto-Portfolio. Derartige Pläne hatte CEO Brian Armstrong schon vor einigen Monaten offenbart.
 
Source: BTC-ECHO

Der Beitrag Coinbase baut Krypto-Portfolio mit 500 Millionen US-Dollar auf erschien zuerst auf BTC-ECHO.

Bitcoin-Steuer: Dieses Tool spart Zeit, Geld und Nerven

Bitcoin-Steuern leicht gemacht
Bitcoin und Steuern ist ein Thema, das viele Investor:innen gerne ausblenden. Begriffe wie Spekulationsfrist oder private Veräußerungsgeschäfte sind Fremdworte, der Umgang damit ungewiss. Doch wer das Thema umgeht können hohe Strafen drohen. Accointing.com hat die perfekte Lösung.
 
Source: BTC-ECHO

Der Beitrag Bitcoin-Steuer: Dieses Tool spart Zeit, Geld und Nerven erschien zuerst auf BTC-ECHO.

Kryptobörse Kraken übernimmt Staking-Service Staked

Smartphone vor Kraken-Logo
Die Krypto-Börse Kraken hat die Plattform Staked erworben, um eine Alternative zu seinem eigenen Staking-Service zu bieten. Nach eigenem Bekunden handelt es sich um einen der größten Kryptobörse-Deals überhaupt.
 
Source: BTC-ECHO

Der Beitrag Kryptobörse Kraken übernimmt Staking-Service Staked erschien zuerst auf BTC-ECHO.

BAYC Flips CryptoPunks as OpenSea Volume Recovers: Markets Wrap

Bored Apes part of NFT Index
  • Bored Ape Yacht Club flips CryptoPunks in terms of floor price
  • Axie Infinity remains the largest NFT collection by trading volume over the past 7 days

Bored Ape Yacht Club flips CryptoPunks in terms of floor price.

Opensea volume has rebounded during the month of December.

Axie Infinity is still the largest non-fungible token collection by trading volume over the past 7 days.

Latest in Macro:

  • S&P 500: 4,696, +1.02%
  • NASDAQ: 15,521, +1.18%
  • Gold: $1,803, +0.76%
  • WTI Crude Oil: $72.96, +2.60%
  • 10-Year Treasury: 1.453%, -0.034%

Latest in Crypto:

  • BTC: $49,214, +0.40%
  • ETH: $4,035, -0.10%
  • ETH/BTC: 0.0819, -0.17%
  • BTC.D: 40.37%, -0.74%

BAYC flips CryptoPunks floor price

Popular NFT art collections Bored Ape Yacht Club (BAYC) and CryptoPunks have seen their floor prices, the lowest priced piece of art in a given collection currently for sale on a secondary market, converge over the past month.

Today the BAYC floor price officially ousted CryptoPunks as the most expensive NFT community to join, with its floor prices sitting at 52.84 ETH and 52 ETH, respectively, according to data from Dune Analytics.

Source: Dune Analytics

The rise of BAYC can in part be attributed to high-profile celebrities such as Post Malone, Steph Curry and Jimmy Fallon purchasing apes to become part of the community.

“We describe NFTs as stores of culture because they embody a moment in history,” Yat Siu, co-founder and chairman of NFT game developer Animoca Brands, said in a Cointelegraph interview.

Many NFT market participants believe that these profile pictures are representative of their identities online and are not open to selling, even at a price tag equal to over $210,000.

“Heyy are you interested in selling me your pink Bored Ape? I’m absolutely in love with it,” billionaire Kylie Jenner messaged @WillyTheDegen, an anonymous NFT collector, on Twitter.

Willy tweeted in response to her direct message saying, “I hit delete message, by the way. Diamond hands baby,” and proceeded to block her, “for the culture.”

While BAYC floor price has in fact flipped CryptoPunks, it is worth noting that the lifetime trading volume is more than double BAYC’s with nearly 670,000 volume of ETH traded, according to data from Dune Analytics.

BAYC is also planning to launch a token in early 2022, which could be contributing to the price appreciation according to The Block.

Opensea volume rebounds

Opensea volume has rebounded during the month of December, on pace to hit roughly $2.82 billion in monthly sales, according to data from Dune Analytics.

If OpenSea’s trading volume maintains its current pace, this would mark the highest number since September. Daily volume has been tapering off over the past few days, but maybe those last-minute Christmas shoppers will push volumes higher.

Source: @bit_hedge

NFTs overview

Despite a lot of action going on in the world of NFTs, Axie Infinity was still the top collection by sales according to data collected by the Satoshi Club.

Source: @esatoshiclub

Trading data from OpenSea and Solanalysis of some of the top Solana and Ethereum projects can be found below:

Top Ethereum Projects
Top Solana Projects

If you made it this far, thanks for reading! I am looking forward to catching up tomorrow.


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Uniswap Delegates Consider Liquidity Mining to Kickstart Ethereum Layer-2 Adoption

Uniswap
  • Newcomers are coming through EVM chains, like Fantom, Avalanche, or other layer-1 protocols like Solana, which have spent hundreds of millions of dollars to attract developers and users
  • In order to succeed, there needs to be greater incentives and smoother migration for users to onboard to layer-2 centralized exchanges and applications through initiatives

Earlier this week, the Uniswap community approved a governance proposal to deploy Uniswap v3 contracts on to Polygon’s proof-of-stake chain. 

The approval arrived through an on-chain vote of over 72.6 million for the proposal and only 503,009 against it, Uniswap tweeted. Since then, Polygon’s MATIC token has spiked near all-time highs to $2.65 at 9:50 am ET on Wednesday. 

“Uniswap is going to launch on Polygon with yield farming and on there the farming governance tokens will be MATIC,” a source familiar with the matter, who’s not authorized to comment publicly said. “So they’ll pay for the liquidity mining when it launches, but you won’t get UNI tokens, you’ll get MATIC,” the source added. 

While this proposal succeeded, other ones are awaiting a chance for success. 

Uniswap is a decentralized exchange — a protocol for trading and automated liquidity provision on Ethereum. And as Ethereum gas fees remain high, Uniswap users are considering alternative ways for applications to onboard to faster and cheaper layer-2s like Optimism or Arbitrum. 

In early November, a Uniswap user who goes by the name litocoen, proposed an initial temperature check post on the Uniswap Governance forum page for Uniswap to consider launching a liquidity mining campaign on layer-2 through its $6.7 billion treasury. 

“Uniswap governance should start incentivizing liquidity on its Arbitrum and Optimism deployments to kickstart adoption of Ethereum Layer-2 and prove that its decision to bet on Optimistic Rollups was the right one,” litocoen wrote.

The Ethereum mainnet has become unusable for normal users, who can start with $200 but lose half of their portfolio on a day when gas fees are high, he added. 

As a result, newcomers to crypto are not being onboarded through Ethereum, but through chains running compatible Ethereum virtual machines, or EVM, like Fantom, Avalanche, Binance Smart Chain or other layer-1 protocols, which have spent hundreds of millions of dollars to attract developers and users. 

In order to succeed, there needs to be greater incentives and smoother migration for users to onboard to layer-2 centralized exchanges and applications through initiatives like the liquidity mining campaign previously mentioned, litocoen noted. 

“Users are waiting for subsidies and more applications to use, centralized exchanges and application developers on the other hand are waiting to see user adoption first to justify the integration efforts,” he wrote. But as both wait for the other to make the move, layer-2 applications are slowly competing for a space in the market.

If it happens, it would be the first time Uniswap taps into its treasury to provide liquidity mining since the initial program that accompanied the launch of its UNI token.

“The real problem that Arbitrum and Optimism have in attracting any sort of any material activity, is because they don’t have tokens themselves,” the source close to the matter said. “They don’t do what Polygon is doing with MATIC tokens, so it’s really on Uniswap if they really want to scale through Arbitrum and Optimism, the work is on Uniswap to do it themselves,” the source commented.

“It’s all about incentives, that’s where capital and liquidity will go.” 

The Snapshot vote
Snapshot vote results

After the post was validated by over 25,000 UNI participants, it reached the next stage for a Consensus Check at the end of November. UNI is Uniswap’s token, which users can delegate to others (or self-delegate) to vote on the protocol’s governance. To date, the circulating supply consists of about 628 million UNI, which is about 63% of total supply, according to CoinMarketCap.

Among token holders, 98.92%, or 19.71 million UNI, voted yes, while 1.08%, or 215,040 UNI, voted no for the consensus check on whether or not Uniswap should incentivize liquidity on Optimism and Arbitrum. The poll took place from Nov. 30 to Dec. 3, 2021. 

While the majority of votes were in favor of the proposal, some found the idea to be a waste of funds. 

“Liquidity mining is a great way to bootstrap liquidity onto a freshly launched project, but it proves to be quite parasitic in the long run,” user Buckerino wrote.

“Liquidity is loyal only to the person who pays. Why should UNI token holders bear this burden? What do they get in return besides the fact that they will get utterly diluted?” the user commented. 

The ultimate goal of the proposal is to make participation in a liquidity mining program as easy as possible, litocoen wrote. It would also aid in further decentralizing the protocol, as UNI tokens would be distributed to as many people as possible, he added. 

“In other words, to give users who weren’t able to participate in earlier liquidity mining schemes on Ethereum mainnet a chance to do it on L2. We should not only optimize for liquidity but also fairness,” he added.

The Uniswap protocol (of which there are three generations, version 3 being most recent) is autonomous, immutable on Ethereum and not registered in any jurisdiction.

Uniswap Labs, the company responsible for the protocol’s development, was not available for additional immediate comment when requested by Blockworks.


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