PRICE CHANGE: WTD/YTD
- BTC ($48,658): +12% / +68%
- ETH ($3,445): +12% / +367%
- XRP ($1.08): +14% / +390%
- UNI ($26): +7% / +427%
- Crypto Market Cap ($2.1T): +11% / +180%
- BTC Dominance: 42%
- ETH Dominance: 19%
STABLECOIN MARKET CAP CHANGE: WTD/YTD
- Tether ($68B): -1% / +225%
- USDC ($32B): +4% / +728%
NFT 3M TRADING VOLUMES
THIS WEEK IN CRYPTO
- The NFL and Dapper Labs are partnering on an NFT marketplace for the NFL similar to NBA Top Shots. The NFL will acquire equity in Dapper Labs. The marketplace is expected to go live in early January 2022. Link.
- Ethereum researcher Virgil Griffith plead guilty to violating US sanctions laws. Griffith was arrested after giving a talk in North Korea on blockchain and cryptocurrencies in 2017. Griffith's plea deal means he will spend a maximum of 6.5 years in prison. Link.
- Bitcoin Lightning Network has reached all-time high network capacity, nearing 3,000 bitcoin (over $120 million). This capacity is the amount that users can move (send and receive) via the network. Link.
- A new upgrade to Compound Finance contained a bug that allowed some users to claim as much as 168,000 COMP tokens, worth around $50 million. The purpose of the upgrade was to split the COMP distribution to liquidity suppliers and borrowers based on governance-set ratios instead of the previous 50/50 share model. Given the decentralized governance of compound, there are no admin controls or community tools to disable the COMP distribution. Any changes to the protocol require a 7-day governance process to make their way into production. Link. R Leshner Tweets. It appears as though all 280,000 COMP tokens (roughly $80 million) in the Comptroller Contract have now been drained. Leshner threatened to report the distributions as income to the IRS if the funds weren't returned. Link.
- Twitter's head of consumer product marketing showcased unreleased tools for users who want to authenticate their NFT profile picture. Users will also be able to display other NFTs through an upcoming "Collectible" menu option. See video.
- TikTok is releasing its first NFT collection. TikTok Top Moments will feature six "culturally significant TikTok videos" as one-of-one NFTs from creators including Lil Nas X and Gary Vaynerchuck. The NFT collection will be available on Ethereum and powered by layer-2 solution Immutable X. Link. Drop Site.
- Miami has made $7.1 million from MiamiCoin which launched in August in partnership with CityCoins protocol. MiamiCoin represents a stake in the city, and was distributed to residents who can hold and trade the coin. Residents can also run software and mint new tokens, with users getting 70% of new tokens and the city getting 30%. Link.
- Eternal, an NFT marketplace that sells packs of serialized clips from its network of gaming streamers, raised $4.5 million in seed funding from NFX, Mark Cuban, Coinbase Ventures, Dapper Labs, Gary Vaynerchuck and Arrington Capital. The platform is built on Dapper Labs' Flow. Link.
- Gary Vaynerchuk sold the physical inspiration for his VeeFriends NFT collection at Christies this week. The doodle of "Empathetic Elephant" sold for $412,500 and outsold works by Andy Warhol and Jackson Pollock. Link.
- Coinbase Pro is adding Avalanche (AVAX) to its platform. Link.
- Immutable X, an NFT-focused Layer 2 scaling protocol, raised $12.5 million from its $IMX token sale on CoinList. Link.
- Hackers gained access to at least 6,000 Coinbase user accounts by exploiting a vulnerability in the SMS account recovery process. Coinbase is depositing funds in affected accounts equal to the stolen amount. Link.
- Social token platform Roll raised a $10 million Series A led by IOSG Ventures with participation from Animoca Brands, Weekend Fund, and Alchemy. Roll supports over 350 creators and has YTD trading volume of $680 million. Link.
- Coinbase is launching direct deposit support in the US, which will allow customers to deposit a portion of their paycheck directly into Coinbase. Link.