🌕$17 Billion UST 3rd Largest Stablecoin - TWJ #128
Do Kwon continues his conquests.
In today’s issue:
The crypto market is up with the total market cap sitting at $1.9-2 trillion. STEPN (GMT) is the best performer in the top 100 in the past 7-d. The Japanese yen extended its losses (the worst in 5 decades) and US futures extend their decline.
In other news, Terra’s UST becomes the 3rd largest stablecoin, Moonbirds NFTs generate $200M in sales, and Andre Cronje advocates for crypto regulation.
We’re continually improving our content, please reach out if you have ideas or would like us to recap another segment of the market.
- Curated by Marco Manoppo (@manoppomarco)
📰Market News
⎆Terra’s UST Becomes the 3rd Largest Stablecoin
Terra, one of the fastest-growing projects in the past year has reached a new milestone with its stablecoin product, UST, reaching $17 billion in market capitalization, surpassing Binance USD (BUSD) and becoming the 3rd largest stablecoin. UST’s value proposition is that the decentralized finance ecosystem would eventually require a truly decentralized stablecoin, without any centralized counterparties such as USDC and USDT.
⎆Moonbirds NFTs Generate $200M in Sales
Moonbirds NFT generated more than $200M in sales as it achieved one of the most successful NFT launches in the past year.
The collection of 10,000 PFPs (profile pics) has racked up 69,000 ETH (roughly $207 million) in total sales, boasting a floor price of 21.3 ETH (roughly $64,000) at the time of writing.
⎆Andre Cronje Advocates for Crypto Regulation
The person who is arguably called the father of DeFi has now written a blog post that criticized crypto culture’s greed, stating that it has taken away from the crypto ethos of sovereign ownership. Andre has now called for regulations and the birth of a new crypto age, which unsurprisingly incited a lot of criticisms from the crypto market participants.
👨🏻💻Decentralized Finance (DeFi)
Ethereum Foundation Report
Spooky Swap Q1 Update
Phantom Wallet Live on Android
Thales Goes to Polygon
Monero Community Reaches Consensus for July Hard Fork
Algorand Rents Times Square Billboard to Tout Green Cred
Uniswap Launches Swap Widget For Third-Party Apps
🏛Governance - Active Proposals
Compound - COMP Rewards Adjustments - Kickstart Rewards: Step Two
Compound - Update Mid-TVL cToken Implementations
ENS - Execute EP9
Fei - FIP-92: Vote-escrow BAL
🦮NFT & Metaverse
Scott Kelly NFTs Offer Astronauts 'New Outlet' to Share Experiences
Merit Circle Marketplace
Moonbirds Ethereum NFT Launch Generates $280M
Animoca Brands Buys Major Stake in Aussie Digital Services Agency
Top Sales (Last 24-h); Source: https://dappradar.com/nft
📈Deal Flow & Capital Raise
Aura Network - $2.5M Seed Round
Doxa - $2.2M Pre-Series A
Wombat Exchange - $5.25M Series A
CoinDCX - $135M Series D
Coinberry - $30.6M Acquisition by WonderFi Technologies
KuCoin - $100M NFT Creators Fund
The Sandbox - Looking to Raise $400M
⚖️Regulatory Update
Crypto Proponents Fear SEC 'Backdoor' Regulations on Exchanges, Dealers
France's Crypto Industry Fights Institutional Caution
US Government Warns of North Korean Crypto Attacks
Ireland Bans Political Crypto Donations on Foreign Interference Fears
BitLicensed Crypto Firms Ordered to Pay Annual Assessment Fees in NY
Delphi Digital Submits Objection to SEC
📚Noteworthy Reads
Andre Cronje’s Read on The Rise and Fall of Crypto Culture
Binance’s Read on Crypto Quarterly Report: Q1 2022
Javier Ang’s Thread on Vision Investing vs Problem Investing
Feel free to reach out to manoppomarco@gmail.com — feedbacks and constructive criticisms are much appreciated.