Time to look at August's market insights!
Discover the current market landscape and key insights on:
🔸 Ether ETF flows
🔸 Record-high DEX-to-CEX ratios
🔸 Prediction markets hype
🔸 Stablecoin growth
…and more.
Discover the full report here ⬇️
https://www.binance.com/en/research/analysis/monthly-market-insights-2024-08
Discover the current market landscape and key insights on:
🔸 Ether ETF flows
🔸 Record-high DEX-to-CEX ratios
🔸 Prediction markets hype
🔸 Stablecoin growth
…and more.
Discover the full report here ⬇️
https://www.binance.com/en/research/analysis/monthly-market-insights-2024-08
Binance
Monthly Market Insights - August 2024
A summary of the most important market developments, interesting charts and upcoming events.
Binance Research pinned «Time to look at August's market insights! Discover the current market landscape and key insights on: 🔸 Ether ETF flows 🔸 Record-high DEX-to-CEX ratios 🔸 Prediction markets hype 🔸 Stablecoin growth …and more. Discover the full report here ⬇️ https://ww…»
To achieve sustainable growth, projects must deliver real value to users.
Dive into our latest report to see how achieving product-market fit, generating stable revenue, and providing real yields can drive long-term growth.
Read on 🔽
https://www.binance.com/en/research/analysis/reality-check-the-importance-of-providing-real-value
Dive into our latest report to see how achieving product-market fit, generating stable revenue, and providing real yields can drive long-term growth.
Read on 🔽
https://www.binance.com/en/research/analysis/reality-check-the-importance-of-providing-real-value
Binance
Reality Check: The Importance of Providing Real Value
A thought piece on ways to achieve sustainable growth.
Highlights 🧵:
1/ Ripple Labs has been fined $125 million after a federal judge ruled that 1,278 sales of the XRP token violated securities laws. "This is a victory for Ripple, the industry and the rule of law," tweeted Ripple CEO Brad Garlinghouse as the federal court reduced the SEC's ask of US$2B by 94%.
2/ Immutable announced the retirement of its IMX marketplace on 13 Aug, to concentrate on expanding its ecosystem. The company noted that several projects have already been created and grown using its platform, emphasizing their preference to support these projects rather than compete.
3/ Franklin Templeton has expanded its tokenized money fund, the Franklin OnChain US Government Money Fund (FOBXX), on the Arbitrum network. Users can now acquire and hold the fund’s tokenized shares on Arbitrum, in addition to other networks like Stellar and Polygon. The launch aims to enhance the accessibility of Franklin Templeton's tokenized RWAs, with plans to expand to new chains in the future.
1/ Ripple Labs has been fined $125 million after a federal judge ruled that 1,278 sales of the XRP token violated securities laws. "This is a victory for Ripple, the industry and the rule of law," tweeted Ripple CEO Brad Garlinghouse as the federal court reduced the SEC's ask of US$2B by 94%.
2/ Immutable announced the retirement of its IMX marketplace on 13 Aug, to concentrate on expanding its ecosystem. The company noted that several projects have already been created and grown using its platform, emphasizing their preference to support these projects rather than compete.
3/ Franklin Templeton has expanded its tokenized money fund, the Franklin OnChain US Government Money Fund (FOBXX), on the Arbitrum network. Users can now acquire and hold the fund’s tokenized shares on Arbitrum, in addition to other networks like Stellar and Polygon. The launch aims to enhance the accessibility of Franklin Templeton's tokenized RWAs, with plans to expand to new chains in the future.
Highlights 🧵:
1/ This week has delivered several positive economic indicators for the U.S., including annual inflation in July slowing to its lowest level since March 2021. Weekly jobless claims fell to 227,000, and retail sales rose by 1.0% in July, marking the largest increase in 1.5 years. As a result, the U.S. stock market has regained much of its losses over the past two weeks.
2/ Nonetheless, total crypto market cap is down over 5% this week, and DeFi TVL has fallen by nearly 9%. Overall sentiment in the crypto market remains muted, and the market sold off on the back of the U.S. government transferring 10,000 BTC to Coinbase Prime and news of Jump Trading offloading 17,000 ETH.
3/ DBS has launched a pilot for DBS Treasury Tokens, a treasury and liquidity management solution, in partnership with Ant International. Separately, MetaMask, in collaboration with Mastercard and Baanx, has launched the pilot of the MetaMask Card, allowing direct spending from one’s MetaMask wallet.
1/ This week has delivered several positive economic indicators for the U.S., including annual inflation in July slowing to its lowest level since March 2021. Weekly jobless claims fell to 227,000, and retail sales rose by 1.0% in July, marking the largest increase in 1.5 years. As a result, the U.S. stock market has regained much of its losses over the past two weeks.
2/ Nonetheless, total crypto market cap is down over 5% this week, and DeFi TVL has fallen by nearly 9%. Overall sentiment in the crypto market remains muted, and the market sold off on the back of the U.S. government transferring 10,000 BTC to Coinbase Prime and news of Jump Trading offloading 17,000 ETH.
3/ DBS has launched a pilot for DBS Treasury Tokens, a treasury and liquidity management solution, in partnership with Ant International. Separately, MetaMask, in collaboration with Mastercard and Baanx, has launched the pilot of the MetaMask Card, allowing direct spending from one’s MetaMask wallet.
Highlights 🧵:
1/ Tether announced a stablecoin pegged to the UAE Dirham, in collaboration with Phoenix Group. The Dirham-pegged token will adhere to Tether’s reserve standards, ensuring stability and confidence in its value, and will seek licensing under the UAE Central Bank’s Payment Token Services Regulation.
2/ Arbitrum DAO has approved a preliminary proposal to introduce ARB token staking and enhance its utility, with 91% approval from over 25K participants. The initiative will allow ARB holders to stake and delegate their tokens in exchange for a liquid staked ARB token (stARB), enabling auto-compounding of rewards and DeFi compatibility.
3/ Magic Eden has announced the launch of its ecosystem token ME, which is set to enhance user incentives and support cross-chain trading. ME will be claimed exclusively through the Magic Eden Wallet and aims to advance cross-chain protocols and community-led governance, with further details on its utility and tokenomics to be revealed later.
1/ Tether announced a stablecoin pegged to the UAE Dirham, in collaboration with Phoenix Group. The Dirham-pegged token will adhere to Tether’s reserve standards, ensuring stability and confidence in its value, and will seek licensing under the UAE Central Bank’s Payment Token Services Regulation.
2/ Arbitrum DAO has approved a preliminary proposal to introduce ARB token staking and enhance its utility, with 91% approval from over 25K participants. The initiative will allow ARB holders to stake and delegate their tokens in exchange for a liquid staked ARB token (stARB), enabling auto-compounding of rewards and DeFi compatibility.
3/ Magic Eden has announced the launch of its ecosystem token ME, which is set to enhance user incentives and support cross-chain trading. ME will be claimed exclusively through the Magic Eden Wallet and aims to advance cross-chain protocols and community-led governance, with further details on its utility and tokenomics to be revealed later.
Web3 adoption is under 1% globally, with user retention still lagging. It’s time for consumer-facing apps to bring Web3 to everyday users.
Our Binance research explores how use cases and distribution are key to making Web3 a household name.
Read on 🔽
https://www.binance.com/en/research/analysis/web3-the-household-name-in-the-making
Our Binance research explores how use cases and distribution are key to making Web3 a household name.
Read on 🔽
https://www.binance.com/en/research/analysis/web3-the-household-name-in-the-making
Binance
Web3: The Household Name in the Making
Exploring the market dynamics and strategies shaping Web3 adoption.
Binance Research pinned «Web3 adoption is under 1% globally, with user retention still lagging. It’s time for consumer-facing apps to bring Web3 to everyday users. Our Binance research explores how use cases and distribution are key to making Web3 a household name. Read on 🔽 ht…»
Highlights 🧵:
1/ MakerDAO has rebranded to Sky and is set to launch its new stablecoin, USDS along with its governance token, SKY on 18 Sep. This rebranding is part of MakerDAO’s "Endgame", aimed at simplifying user experience and expanding its DeFi offerings. MakerDAO will also introduce "Sky Stars," independent decentralized projects within its ecosystem, starting with the DAI-focused lender, Spark.
2/ OpenSea received a Wells notice from the U.S. SEC, which classified NFTs sold on its platform as unregistered securities. OpenSea is prepared to go to court and has pledged US$5M to help cover legal fees for NFT creators and developers who receive similar notices.
3/ Stacks has launched the Nakamoto upgrade, designed to enhance transaction speeds and introduce sBTC, a Bitcoin-pegged asset secured by the Bitcoin network. Expected to be completed by mid-September, the upgrade will decouple the Stacks network’s block production from Bitcoin, increasing block production by 120 times.
1/ MakerDAO has rebranded to Sky and is set to launch its new stablecoin, USDS along with its governance token, SKY on 18 Sep. This rebranding is part of MakerDAO’s "Endgame", aimed at simplifying user experience and expanding its DeFi offerings. MakerDAO will also introduce "Sky Stars," independent decentralized projects within its ecosystem, starting with the DAI-focused lender, Spark.
2/ OpenSea received a Wells notice from the U.S. SEC, which classified NFTs sold on its platform as unregistered securities. OpenSea is prepared to go to court and has pledged US$5M to help cover legal fees for NFT creators and developers who receive similar notices.
3/ Stacks has launched the Nakamoto upgrade, designed to enhance transaction speeds and introduce sBTC, a Bitcoin-pegged asset secured by the Bitcoin network. Expected to be completed by mid-September, the upgrade will decouple the Stacks network’s block production from Bitcoin, increasing block production by 120 times.
Payments is a massive, fast-growing, global industry that still remains tethered to 50 year old infrastructure.
Our latest report dives into some of the modern problems with the global payments infrastructure, and how blockchain technology can address them.
Read on 🔽
https://www.binance.com/en/research/analysis/blockchain-payments-a-fresh-start
Our latest report dives into some of the modern problems with the global payments infrastructure, and how blockchain technology can address them.
Read on 🔽
https://www.binance.com/en/research/analysis/blockchain-payments-a-fresh-start
Highlights 🧵:
1/ Uniswap Labs settled US$175K charges with the U.S. Commodity Futures Trading Commission (CFTC) over illegal derivatives trading. The CFTC stated that Uniswap Labs allowed users to trade leveraged tokens without proper registration, violating commodities laws.
2/ Mastercard launched a euro-denominated crypto debit card in partnership with Mercuryo, to enable spending from self-custodial wallets. Following a pilot of a crypto debit card with the major self-custodial MetaMask wallet in August, Mastercard remains committed to eliminating the barriers between blockchain and conventional payments.
3/ Penpie encountered a security exploit that resulted in a US$27M loss in assets, including wstETH, sUSDe, agETH, rswETH, and other Pendle-related YT tokens. In response, the Pendle team swiftly paused their contracts, preventing a further loss of US$105M in assets that could have been further drained.
1/ Uniswap Labs settled US$175K charges with the U.S. Commodity Futures Trading Commission (CFTC) over illegal derivatives trading. The CFTC stated that Uniswap Labs allowed users to trade leveraged tokens without proper registration, violating commodities laws.
2/ Mastercard launched a euro-denominated crypto debit card in partnership with Mercuryo, to enable spending from self-custodial wallets. Following a pilot of a crypto debit card with the major self-custodial MetaMask wallet in August, Mastercard remains committed to eliminating the barriers between blockchain and conventional payments.
3/ Penpie encountered a security exploit that resulted in a US$27M loss in assets, including wstETH, sUSDe, agETH, rswETH, and other Pendle-related YT tokens. In response, the Pendle team swiftly paused their contracts, preventing a further loss of US$105M in assets that could have been further drained.
On-chain real-world assets ("RWAs") have reached an all-time high.
Our new report explores this recent growth, outlines key RWA categories, and provides a tech-driven tour of some of the most interesting protocols in the space.
Read on 🔽
https://www.binance.com/en/research/analysis/rwas-a-safe-haven-for-onchain-yields
Our new report explores this recent growth, outlines key RWA categories, and provides a tech-driven tour of some of the most interesting protocols in the space.
Read on 🔽
https://www.binance.com/en/research/analysis/rwas-a-safe-haven-for-onchain-yields
Highlights 🧵:
1/ Binance has launched BNSOL, a liquid staking token for SOL, allowing users to stake their SOL tokens and receive BNSOL in return. BNSOL enables users to earn staking rewards while maintaining the flexibility to trade, lend, or use their assets across Binance products and external DeFi platforms.
2/ Friend.Tech has effectively shut down after its developers renounced control over its smart contracts. Despite its early success, the platform struggled to maintain engagement following an underwhelming airdrop and the launch of V2. The revocation of control locks the current system in place, making future updates and new features unlikely, and casting doubt on the platform's revival.
3/ Ether.fi has announced the launch of its blockchain-based credit card, Ether.fi Cash, in partnership with Scroll, an Ethereum L2. The card, which will start shipping in September, offers 3% cash-back on all transactions and allows users to borrow money against their crypto collateral.
1/ Binance has launched BNSOL, a liquid staking token for SOL, allowing users to stake their SOL tokens and receive BNSOL in return. BNSOL enables users to earn staking rewards while maintaining the flexibility to trade, lend, or use their assets across Binance products and external DeFi platforms.
2/ Friend.Tech has effectively shut down after its developers renounced control over its smart contracts. Despite its early success, the platform struggled to maintain engagement following an underwhelming airdrop and the launch of V2. The revocation of control locks the current system in place, making future updates and new features unlikely, and casting doubt on the platform's revival.
3/ Ether.fi has announced the launch of its blockchain-based credit card, Ether.fi Cash, in partnership with Scroll, an Ethereum L2. The card, which will start shipping in September, offers 3% cash-back on all transactions and allows users to borrow money against their crypto collateral.
Highlights 🧵:
1/ BlackRock has released a whitepaper emphasizing Bitcoin's role as a "unique diversifier" against fiscal, monetary, and geopolitical risks. The paper notes that Bitcoin has outperformed all major asset classes in seven of the last ten years. Despite its volatility and classification as a "risky" asset, Bitcoin's price movements reflect its evolving potential as a global monetary alternative.
2/ Phantom Wallet has launched a new feature allowing users to create custom usernames, facilitating easier identity creation, account syncing, and crypto transfers.
3/ A U.S. court dismissed Consensys' lawsuit against the SEC, siding with the agency on all counts. The case, which began in April, involved Consensys challenging the SEC's categorization of ETH as a security and its scrutiny of MetaMask. Despite the SEC closing its investigation into Ethereum in June, the judge ruled that the SEC's actions regarding MetaMask were not final and dismissed the claims on ripeness grounds.
1/ BlackRock has released a whitepaper emphasizing Bitcoin's role as a "unique diversifier" against fiscal, monetary, and geopolitical risks. The paper notes that Bitcoin has outperformed all major asset classes in seven of the last ten years. Despite its volatility and classification as a "risky" asset, Bitcoin's price movements reflect its evolving potential as a global monetary alternative.
2/ Phantom Wallet has launched a new feature allowing users to create custom usernames, facilitating easier identity creation, account syncing, and crypto transfers.
3/ A U.S. court dismissed Consensys' lawsuit against the SEC, siding with the agency on all counts. The case, which began in April, involved Consensys challenging the SEC's categorization of ETH as a security and its scrutiny of MetaMask. Despite the SEC closing its investigation into Ethereum in June, the judge ruled that the SEC's actions regarding MetaMask were not final and dismissed the claims on ripeness grounds.
In our latest report, we provide an overview of the crypto industry by highlighting projects across multiple sectors.
We spotlight themes from Consumer Crypto, DePIN, Real-World Assets, and others in this report.
Check it out 🔽
https://www.binance.com/en/research/analysis/industry-map-sep24
We spotlight themes from Consumer Crypto, DePIN, Real-World Assets, and others in this report.
Check it out 🔽
https://www.binance.com/en/research/analysis/industry-map-sep24
Binance
Navigating Crypto: Industry Map
An overview of different verticals in crypto.
Binance Research pinned «In our latest report, we provide an overview of the crypto industry by highlighting projects across multiple sectors. We spotlight themes from Consumer Crypto, DePIN, Real-World Assets, and others in this report. Check it out 🔽 https://www.binance.com/e…»