Howdy everyone — this is the 5 minute crypto update for Sunday May 21
We’ve got DefiLlama stats, Animoca finances, North Korea hacks, Goldman Sachs survey on family offices, and more
Let’s get it on!
—
As of this recording...
Bitcoin is slightly up at $27200
ETH is holding at $1820
Quite interesting to see Lido’s staked Ether, or STETH, as a top 10 token with a market cap of almost $12B. Again all roads lead back to ETH
—
Metrics update
For today’s metrics update, I wanted to take a look at top projects by fee revenue on DefiLlama
—
On to the news
https://www.animocabrands.com/animoca-brands-update-on-financial-position
Animoca Brands released an unaudited report on its finances:
-cash + stablecoin reserves of $194M
-liquid digital assets of $566M (inclusive of Sandbox’ utility token SAND)
https://www.theblock.co/post/231039/solana-sees-surge-in-new-users
Solana has seen 305K new addresses, the highest 7 day average for a year now
https://www.coindesk.com/markets/2023/05/09/litecoin-transactions-hit-record-high-as-bitcoin-fees-surge-amid-brc-20-frenzy/
Similarly, Litecoin transactions hit record highs of 525K this month, double Litecoin’s bull market peak reached in January 2018
https://dailyhodl.com/2023/02/09/north-korea-linked-crypto-theft-surpassed-600000000-in-2022-shattering-all-time-high-report/
https://coingeek.com/north-korea-stole-1-2-billion-from-japan-vietnam-elliptic
Did you know North Korea’s hacker army has stolen over $2B of crypto?
The most affected country was Japan, followed by Vietnam, the US, and Hong Kong
https://decrypt.co/139695/gaming-dominates-on-chain-transactions-in-april-as-arbitrum-users-surge
Blockchain gaming makes up 38% of all crypto transactions
This is among almost 700K daily active wallets - which means 250K of those wallets are playing blockchain games
https://www.gsam.com/content/dam/pwm/direct-links/us/en/PDF/onegs_familyoffice_eyesonthehorizon.pdf?sa=n&rd=n
Goldman Sachs surveyed 166 family offices - basically high net worth families, 70% of whom have net worths above $1B
26% hold cryptocurrencies, a rise from 16% in 2021, but the number who have not invested and have no interest has also risen from 39 to 62%, perhaps because we’re in the depths of a bear market
https://www.theblock.co/post/231317/osmosis-axelar-and-akash-fund-mesh-security-model-for-cosmos-ecosystem
Cosmos has a few competing visions for how to share security across blockchains
https://milkroad.com/news/big-price-moves-coming
Celsius has requested to unstake 428k stETH (~$780M worth) from Lido’s liquid staking platform.
For perspective, there are 18M+ total ETH staked, so that’s around 2% of all staked ETH
https://blockworks.co/news/ripple-cbdc-xrp-ledger
I’m not a fan of Ripple, but they are often in the news and they still have a top 10 coin, so I feel obligated to report
Ripple stated in 2021 that around 80% of countries were reportedly exploring a CBDC. Recent reports suggest that this number has now increased to 90%.
https://blockworks.co/news/uniswap-governance-fee-proposal
Uniswap - the leading Ethereum DEX - may finally charge a small fee to liquidity providers, and the revenue generated would accrue to a treasury that presumably would then flow back to UNI token holders
—
That’s it for today! All the links are in the show notes. You can follow @twodegenspod on Twitter and subscribe for more!
For our outro clip…we’ve got the Chopping Block podcast talking about L1s and how they compete with Ethereum
https://www.youtube.com/watch?v=TgvMBaTjxm4
Howdy everyone — this is the 5 minute crypto update for Sunday May 21
We’ve got DefiLlama stats, Animoca finances, North Korea hacks, Goldman Sachs survey on family offices, and more
Let’s get it on!
—
As of this recording...
Bitcoin is slightly up at $27200
ETH is holding at $1820
Quite interesting to see Lido’s staked Ether, or STETH, as a top 10 token with a market cap of almost $12B. Again all roads lead back to ETH
—
Metrics update
For today’s metrics update, I wanted to take a look at top projects by fee revenue on DefiLlama
—
On to the news
https://www.animocabrands.com/animoca-brands-update-on-financial-position
Animoca Brands released an unaudited report on its finances:
-cash + stablecoin reserves of $194M
-liquid digital assets of $566M (inclusive of Sandbox’ utility token SAND)
https://www.theblock.co/post/231039/solana-sees-surge-in-new-users
Solana has seen 305K new addresses, the highest 7 day average for a year now
https://www.coindesk.com/markets/2023/05/09/litecoin-transactions-hit-record-high-as-bitcoin-fees-surge-amid-brc-20-frenzy/
Similarly, Litecoin transactions hit record highs of 525K this month, double Litecoin’s bull market peak reached in January 2018
https://dailyhodl.com/2023/02/09/north-korea-linked-crypto-theft-surpassed-600000000-in-2022-shattering-all-time-high-report/
https://coingeek.com/north-korea-stole-1-2-billion-from-japan-vietnam-elliptic
Did you know North Korea’s hacker army has stolen over $2B of crypto?
The most affected country was Japan, followed by Vietnam, the US, and Hong Kong
https://decrypt.co/139695/gaming-dominates-on-chain-transactions-in-april-as-arbitrum-users-surge
Blockchain gaming makes up 38% of all crypto transactions
This is among almost 700K daily active wallets - which means 250K of those wallets are playing blockchain games
https://www.gsam.com/content/dam/pwm/direct-links/us/en/PDF/onegs_familyoffice_eyesonthehorizon.pdf?sa=n&rd=n
Goldman Sachs surveyed 166 family offices - basically high net worth families, 70% of whom have net worths above $1B
26% hold cryptocurrencies, a rise from 16% in 2021, but the number who have not invested and have no interest has also risen from 39 to 62%, perhaps because we’re in the depths of a bear market
https://www.theblock.co/post/231317/osmosis-axelar-and-akash-fund-mesh-security-model-for-cosmos-ecosystem
Cosmos has a few competing visions for how to share security across blockchains
https://milkroad.com/news/big-price-moves-coming
Celsius has requested to unstake 428k stETH (~$780M worth) from Lido’s liquid staking platform.
For perspective, there are 18M+ total ETH staked, so that’s around 2% of all staked ETH
https://blockworks.co/news/ripple-cbdc-xrp-ledger
I’m not a fan of Ripple, but they are often in the news and they still have a top 10 coin, so I feel obligated to report
Ripple stated in 2021 that around 80% of countries were reportedly exploring a CBDC. Recent reports suggest that this number has now increased to 90%.
https://blockworks.co/news/uniswap-governance-fee-proposal
Uniswap - the leading Ethereum DEX - may finally charge a small fee to liquidity providers, and the revenue generated would accrue to a treasury that presumably would then flow back to UNI token holders
—
That’s it for today! All the links are in the show notes. You can follow @twodegenspod on Twitter and subscribe for more!
For our outro clip…we’ve got the Chopping Block podcast talking about L1s and how they compete with Ethereum
https://www.youtube.com/watch?v=TgvMBaTjxm4