With approximately $325 million, it has become one of the largest protocols in the Solana ecosystem. Despite a significant drop in TVL from its all-time high, it has recently seen an increase with the surge in SOL price.
Source: DefiLlama
News:
VanEck predicts Solana will reach $3K.
ProShares launches the first short ETH futures ETF.
Unibot suffers an attack.
Taho Wallet opens beta access waiting list.
Avalaunch terminates partnership with Starsarena.
Fuse introduces the first smart wallet for Solana.
Solana establishes a partnership with Amazon Web Services.
Arkham launches chat room feature.
a16z plans to raise $3.4 billion for its next early-stage fund.
Neo plans to launch an Ethereum-compatible sidechain for interoperability with the N3 mainnet.
Solana adds incubators to promote growth and attract founders from competing chains.
Shuffle plans an airdrop.
Renzo announces a re-staking mechanism, allowing everyone to re-stake through Eigenlayer.
Layer N introduces Nord, Layer N’s first exchange-optimized convolutional network, which will soon launch its testnet.
Floki plans to enter the trillion-dollar real-world asset (RWA) market with TokenFi, positioning itself as a serious DeFi participant.
Starknet will distribute 50 million tokens.
Goldman Sachs believes Ethereum’s London upgrade, expected in Q1 2024, is an important step in transforming blockchain into a scalable settlement layer.
Polygon’s POL token upgrade is now live on the Ethereum mainnet.
Astrid Finance suffers an attack and will refund users.
Snowtrace will stop its service due to fees from Etherscan.
The UK Treasury releases the final proposal for regulating crypto assets.
The CEO of Stars Arena steps down.
Blockchain startup Etherfuse launches tokenized bonds in Mexico, targeting retail investors.
BNB launches the BNB security wallet.
Stelo Labs is gradually closing down.
Timeless launches their V2.
Nym plans to launch NymVpn.
Argent will prioritize the development of Starknet and halt the development of zkSync Era.
Binance’s market share significantly declines despite recent growth in the crypto market, dropping from 74% in December 2022 to 50% this month. Several factors, including senior executives leaving, regulatory challenges, and legal accusations, have contributed to the decline in Binance’s market share.
Source: The Block
The number of cryptocurrencies delisted from exchanges is increasing this year, marking a record increase in delistings. Major exchanges like Coinbase and Binance have been actively delisting tokens, with Coinbase delisting 80 trading pairs in October, the highest monthly delisting number since 2021.
Layer2 activity is on the rise, with weekly active wallets on L2s reaching new all-time highs. This indicates that most protocols are moving their products from the mainnet to L2s or deploying on L2s, with user activity increasing.
Source: Token Terminal
The crypto market is currently experiencing significant growth, with major projects like Solana, Injective, and Rollbit achieving gains of 76%, 75%, and 65% respectively. This indicates that funds are flowing into projects considered higher risk but with potential for high returns.
Additionally, other tokens like CANTO, MINA, and NEAR have also performed well, while tokens like RLB, PEPE, and MANA show that investors are willing to take on more risk in search of higher returns.
Furthermore, the growth of real-world asset (RWA) Hashnote, with a 373.51% increase in total value locked (TVL), suggests that new major blue-chip protocols may emerge in the upcoming bull market cycle, providing fierce competition for established players like Maker, Compound, and Aave.
Source: Tradingview
Reviewing protocol revenues is an important indicator of protocol vitality, especially if it aligns with their expected revenue models. Unsurprisingly, Ethereum leads, but it’s worth noting the presence of Binance and OpenSea in this context.
Source: DefiLlama
ETH/BTC
Ethereum continues to depreciate relative to Bitcoin. This trend is not reversing, and a full altcoin season is unlikely to occur.
Source: Tradingview
Latest SocialFi Updates:
In the past few months, Friendtech and Starsarena have been prominent protocols in the SocialFi space. However, this narrative and trend seem to be weakening, with a sharp decline in user activity and trading volume.
Friendtech has experienced a sharp decline in both the number of traders and trading volume in the past month.
Source: Dune.
Degen Corner:
Several newly launched tokens, including Aardvark, CAESAR, MOG, BITCOIN, CRESO, MLP, and REKT, have accumulated a significant amount of Degen smart money holdings.
Although meme coins like Floki and Pepe have recently witnessed significant price increases, their value is still far below their all-time highs. This recovery indicates renewed interest in these highly speculative assets.
Ether.fi is introducing native Ethereum restaking through EigenLayer in the form of eETH. Users can earn points by staking eETH, participating in the protocol, and completing tasks. EigenLayer will distribute points to native stakers, and eETH stakers can earn 100% yield without any deductions.
Aevo, a derivative L2 application chain for options and perpetual contract trading on the OP stack, has merged with Ribbon after DAO approval. $RBN token holders can convert to $AEVO, which will serve as the governance token. The token generation event is scheduled for January 2024, and staking $AEVO for three months will offer benefits such as discounts, reward multipliers, and early access.
Try out Saga’s Pegasus incentive testnet. Make sure to mint the latest free NFTs on Scroll to increase your chances of qualifying for future airdrops. Follow this post and Scroll’s official guide.
Source: Dune
News:
Frame announces it will be powered by Arbitrum’s Nitro Stack.
Opensea launches Shipyard, an open-source Solidity contract collection for NFT creators.
Sup comic enters the store, Bitmap: Fragments of the Machine.
Steve Aoki releases digital sneakers for StepN.
Axie Infinity’s Sky Smash integrates Axie experience points.
ArcadeDao has been launched.
Alpha 3.0 game update redefines blockchain RPG with a season-based leaderboard and exciting new content.
Async Art is gradually phasing out.
NFT Paris launches loyalty tokens.
Upcoming Acolytes are derivative goods of Oxmons.
Animoca Brands acquires Azarus, bringing streaming to Web3 games.
Bandai Namco executives state that blockchain will become the standard for Asian games.
Innovative game NFT Gaul will have a public test this week.
NEOM investment fund proposes a $50 million investment in Animoca Brands.
GameShift’s beta version is now live.
Nearcon23 will take place from the 7th to the 10th, and it’s a four-day journey with many industry professionals in attendance.
Jonah’s excellent summary of Web3 game development.
Source: NFTs Today
The state of NFTs:
During the recent market surge, NFTs experienced an increase in trading activity and price. However, their overall market performance still lags significantly. Many projects and companies seem to be reevaluating their strategies and long-term goals in anticipation of the next bull market. The concept of traditional NFTs and their practical applications are expected to undergo significant expansion to provide users with enhanced benefits. A notable emerging trend is the integration of traditional NFTs with the gaming industry.
Source: Coingecko
NFT Trading Volume:
Starting from early October, weekly trading volume for art and collectible NFTs on Ethereum has been on the rise, aligning with the increase in ETH price, indicating renewed interest. However, the weekly trading volume is still not much higher than it was in late August, suggesting that NFTs are primarily benefiting from the rise in the asset values they are priced in rather than experiencing a large-scale activity revival.
Source: The Block
NFT Minting Volume:
Alongside the recent increase in trading volume and trading activity, the minting volume of NFTs on Ethereum has also seen an increase.
Source: The Block
Notable sales this month:
It is evident that blue-chip collections continue to hold higher value for NFT collectors.
Source: CryptoDiffer
Project Spotlight:
Wreck League has introduced a unique concept where players use NFT-minted parts to construct mechs and participate in real-time player versus player (PvP) fighting game competitions. Unlike traditional fighting games with predefined characters, each mech is meticulously crafted and owned by its creator, allowing for over 1.5 trillion possible mech combinations.
Players can freely assemble, disassemble, and customize their mechs using ten unique NFT parts. This customization gives each mech a unique visual appearance and gameplay style, enhancing their performance in various game events and tournaments.
Wreck League’s first season specifically integrates Bored Ape Yacht Club, Mutant Ape Yacht Club, Bored Ape Kennel Club, and Kodas. Holders of these collections can claim a founder mech for free.
Wreck League offers an AAA-grade real-time PvP (player versus player) fighting game experience with cross-platform support between mobile devices and PC. Players can participate in various events and tournaments with their customized mechs, competing for valuable on-chain rewards.
Source: Degen Corner
Try earning ETH through mint.fun and its referral rewards.
Embed Zora’s minting page on your website or platform to earn minting referral rewards.
ImgnAI, a cryptocurrency-based project that allows users to create AI-generated artwork, has entered Nvidia’s Inception Program for innovation incubation. Following this announcement, the project’s native token $IMGNAI has seen a significant price increase of up to 34%.
Maison Margiela offers a free Web3 multiplayer minting game where players can enter codes, confirm, and play the game to try minting various digits, challenging the reset counter after each successful mint.
It is projected that the value of the collectibles market will reach $1 trillion by 2033, with stamps accounting for one of the largest submarkets at around 8%. On Thursday, German postal service released its first stamp with digital twin characteristics. Dive deeper into this topic to learn how to participate in this trend.
Pre-register to play Metalcore on Immutable zkEVM.
Farcana is a blockchain-based metaverse where players can earn Bitcoin through a game format called Play to Hash (P2H). Register here to experience the Farcana Beta.
Source: NFTs Today