Page One

Share this post

Round Tripping

pageone.gg
Crypto Recaps

Round Tripping

weekly recap of the crypto ecosystem featuring news, notes, tokens, charts & more

tolks
Apr 30, 2022
6
Share this post

Round Tripping

pageone.gg

Image

tl;dr: BTC and digital assets in 401(k)s, NFT tokens replacing meme coins, APE & GMT controlling flows, and broad adoption accelerates.

as always, thanks for reading! subscribe, share, comment and follow me here — and we’re always welcoming to new residents of Goblin Town. Let’s get to it.

Join The One

news & funding:

  • Dragonfly Capital announces new $650M crypto fund

  • Joe McCann targeting a $1B raise for new crypto investment firm Asymmetric

  • OneFootball raises $300M to enable soccer clubs, players, and leagues to bring digital assets and fan experiences to blockchain

  • Venture Arm of crypto exchange Gate.io raising $200M for its second fund

  • 0x Labs, DEX infrastructure provider, raises $70M

  • Argent, L2 supported wallet, raises $40M to expand NFT & gamefi support

  • Peter Thiel’s Founders Fund & Pantera lead $20M series A for Ondo Finance

  • OpenSea acquires NFT aggregator Gem as NFT marketplace battle heats up

  • Fidelity to allow 20% BTC allocation to 401(k)s, hope to launch in summer

  • Fireblocks adds support for Terra, institutions have since allocated ~$500M

  • Cogni, US neobank, raises $23M and confirms plans to launch multichain wallet and DeFi enabled savings account

  • Venly, wallet/NFT integration provider, raises $23M series A

  • Goldman Sachs offers first BTC backed loan

thoughts & notes:

NFT tokens

Twitter avatar for @GiganticRebirth
GCR @GiganticRebirth
Prediction NFT communities issue governance tokens [$PENGU] that accrue the benefits of mass adoption; this will inject tremendous liquidity to the projects giving both whales/ retails incentive to trade it; rn not liquid enough for whales, and priced out for retail $PENGU
5:09 PM ∙ Aug 11, 2021
674Likes76Retweets
  • As always, GCR is miles ahead of us all outlining what we’ve witnessed over the past month with regards to $APE. Liquid tokens attached to successful, well-branded NFTs significantly increases the surface area of available participants.

  • While the original collection size of BAYC was the standard 10k, the number of APE holders is currently at 65k. Of course, some the recent price appreciation and holder count is inflated with Yuga requiring 305 APE needed to purchase the forthcoming land sale but the ability to introduce liquidity for whales and lower entry pricing to retail is a powerful combination.

  • NFTs have been the most successful retail on-boarding mechanism and introducing liquid tokens to the established NFT brands will continue to push this trend forward while simultaneously injecting liquidity to the ecosystem.

Increasing Adoption

  • While markets have continued their slow grind down, institutional demand, interest, and broad adoption remain developing in the background.

  • Fidelity, 20M+ retirement accounts & $2.7 trillion AUM, announced they will support the ability for customers to allocate up to 20% of their 401(k) holdings to BTC. This is a massive development in creating access to digital assets, and Fidelity also confirmed they will expand the offering to ETH and other tokens.

  • Fireblocks, crypto service provider to institutions, announced their support for the Terra Ecosystem in response to “record breaking demand” from customers. Their customers “deployed more than $250M into Terra-based protocols within the first 72 hours of integration” and the amount of assets accessing Terra has grown to just shy of $500M.

  • In other general adoption news, we have Goldman offering their first BTC backed loan, Panama passing crypto friendly regulation, and The Central African Republic (CAR) approving BTC as legal tender.

tokens:

outperformers outperforming
  • We’re entering week two of APE and GMT dominating the crypto market flows with all eyes on APE and the Yuga Land sale that is occurring later today. The volatility and liquidity trading APE/GMT reminded me of a great wolf tweet that partially explains the current market stagnation. GMT/APE flows combined with the ever-increasing legacy correlation while boomer markets are down only continue to be the market driving trends.

    Twitter avatar for @HsakaTrades
    Hsaka @HsakaTrades
    People vastly underestimate the flows/liquidity some of these coins siphon away from the rest of the market when they get going. Some can even induce a broader market paralysis until it's time for the stream to flow the other way.
    9:37 AM ∙ Nov 24, 2021
    1,308Likes145Retweets
Twitter avatar for @Awawat_Trades
Awawat @Awawat_Trades
APE doing more volume than ETH, and GMT doing more volume than SOL. It's literally over, isn't it....
Image
10:49 AM ∙ Apr 30, 2022
426Likes22Retweets

Other Token News

  • Optimism announces the Optimism Collective and their token plans

  • Evmos, EVM on ATOM, is finally live after several hiccups

  • APE required for Yuga Land sale; 305 APE per land

  • HOP? Speculation around a Hop Protocol airdrop is building

  • JPEG’d NFT lending platform launches

  • ATOM staking goes live on ShapeShift

  • Maple Finance now live on SOL & ETH

  • BTRFLY proposals for v2 are live with a good overview here

  • JEWEL — down astronomically; DFK team member lied and selling millions

  • ROOK introduces xROOK and outlines revamped tech and tokenomics

  • RGT/FEI — exploiters took $80M+ from Rari Fuse lending pools overnight

around the ecosystem:

  • Balaji’s thinking on what a Twitter airdrop would accomplish

  • always read Arthur; his new post on The Doom Loop

  • Variant Fund on The State of the Ownership Economy

  • tunez with a good thread on crypto/CT truths

  • 0xKanna threads on subnets v. L2s and blockchain scalability

  • light with thoughts on GMT and his short position

tweets:

Twitter avatar for @nope_its_lily
Lily @nope_its_lily
The year is 2030. You wake up and staked your newly accrued Sleep Tokens in order to get out of bed. For breakfast you redeem your LP Fridge tokens (4pool of milk-OJ-coffee-water) and use Samsungswap to convert and stake your water tokens, accruing veWater.
6:00 AM ∙ Apr 24, 2022
1,431Likes177Retweets
Twitter avatar for @tier10k
db @tier10k
This account now documents stock market shenanigans Beyond meat jumps 32% then falls back down in the space of 30 minutes 19:08 - Report: Beyond Meat burger to become permanent McDonalds menu item 19:35 - McDonalds denies the news
Image
6:47 PM ∙ Apr 27, 2022
1,157Likes104Retweets
Twitter avatar for @0xSisyphus
Sisyphus @0xSisyphus
robinhood performance good proxy for western retail participation (especially in the stock market)
Image
8:18 PM ∙ Apr 28, 2022
126Likes7Retweets

Share this post

Round Tripping

pageone.gg
Previous
Next
Comments
TopNewCommunity

No posts

Ready for more?

© 2023 Page One
Privacy ∙ Terms ∙ Collection notice
Start WritingGet the app
Substack is the home for great writing