PRICE CHANGE: WTD/YTD
- BTC ($48,927): +28% / +69%
- ETH ($1,820): +16% / +147%
- XRP ($0.61): +48% / +177%
- UNI ($21): +19% / +332%
- Crypto Market Cap ($1.5T): +30% / +96%
- BTC Dominance: 60%
STABLECOIN MARKET CAP CHANGE: WTD/YTD
- Tether ($32.0B): +12% / +53%
- USDC ($7.3B): +13% / +88%
THIS WEEK IN CRYPTO
- Tesla announced it bought $1.5 billion worth of bitcoin. The company also said it would start accepting payments in bitcoin. Link.
- Mastercard announced plans to give merchants the option to receive payments in crypto later this year, meaning crypto settlement can occur at point of sale. Link.
- PayPal plans to add crypto as a payment option through Venmo, which has over 52 million users. Link.
- Grayscale Investment, the world's largest digital asset manager, has filed to register a new crypto trust for DeFi platform Yearn Finance (YFI). Link.
- BNY Mellon, the $2 trillion banking giant, announced the creation of a Digital Assets Unit, a team dedicated to building the first multi-asset custody and administration platform for digital assets including crypto. Link.
- DeFi trading platform Synthetix raised $12 million from Coinbase, Paradigm, and IOSG. The firms purchased the platform's native token directly from its treasury. Synthetix allows users to trade synthetic assets and commodities and has approximately $2.8 billion of crypto locked. Link.
- Lindsay Lohan sold her first NFT on Rarible, a marketplace for digital assets. It was bought for 10 wETH ($17k+) and sold an hour later for 33 ETH ($57k+). Portions of resales go back to the actress. Link.
- Anonymous DeFi whale known as 0x_b1 purchased three zombie CryptoPunks for a combined value of more than $690,000. 0x_b1 became famous in DeFi after he accumulated 500 million dollars in value through yield farming, staking, lending, and other DeFi services. Link.
- Twitter CEO Jack Dorsey and Jay-Z are sitting up Bitcoin Trust, an endowment to fund bitcoin development initially in India and Africa. The two plan to give 500 BTC to the endowment. Link.
- PayPal wants its digital wallets to be the means by which central banks distribute CBDCs (central bank digital currencies) to consumers across income levels. PayPal customers who use its crypto services have a 12% increase in weekly transactions on the platform, because PayPal customers who use crypto return to complete more than 2 additional transactions. Link.
- Deutsche Bank has plans to introduce a digital asset custody platform that provides prime brokerage and storage targeted at institutional clients. The bank expects tokenization of assets like bonds and real estate to rise from $5 billion today to $24 trillion in 10 years. Link.
- DeFi protocols Cream Finance and Alpha Finance suffered $37.5 million in losses after one of the largest flash loan attacks ever. Comes weeks after an attack on Yearn Finance lost it $11 million after one of its DAI lending pools was hacked. Link.
- Equilibrium is building a cross-chain implementation of Curve on its Polkadot parachain. Average transaction fees passed $20 last week. Link.
- Lightning Network has grown 75% over the last year, hitting a record high of 8,900 nodes and $42 million locked on the network. Link.
- r/WallstreetBets crypto equivalent r/SatoshiBets is launching its own token called SatoshiSwap (SAS). The utility governance token will go to members based on upvotes for their reddit posts and will be airdropped to users of DEXs Sushiswap and Uniswap. Link.
- 3.25% of Ethereum's mainnet transactions happened on Layer-2 solution Loopring on Tuesday. Link.
- BitPay is working with Apple Pay and is in talks with Google Pay and Samsung Pay to enable crypto on their payment platforms. Link.
- Blue Ridge Bank is the first commercial bank in the US to allow its customers to buy and sell Bitcoin at its ATM locations. Link.