Round Tripping
a weekly recap of the crypto ecosystem
as always, thanks for reading and follow me here
tl;dr: tokens bounce following stock’s strong week, NFTs and GameFi continue garnering attention, cross-scaling solution liquidity taking shape, and legacy organizations continue crypto integration.
BTC dominance 46% | ETH dominance 18% | DeFi TVL $110B |
Total Crypto Market Cap $1.27T | Stablecoin Supply $155B |
funding:
a16z raises $4.5B for crypto fund 4; $1.5B for seed, $3B for venture investing
Standard Crypto raises new $500M fund for “equity and crypto”
NGC Ventures raises $100M for DeFi, NFTs, and GameFi focused fund
Volt Capital raises $50M for second fund focusing on DAOs, NFTs, DeFi & infra
StarkWare (ZK scaling) raises $100M and quadruples valuation to $8B
Old Fashioned Research fund launched with $100M by former Binance execs
Layer Zero Labs ($STG creator) is seeking fresh funds @ $3B valuation
Babel Finance, institutional crypto lender, raises $80M @ $2B valuation
FlowCarbon, Adam Nuemann backed blockchain carbon credits, raises $70M
BUD, Singapore based Metaverse startup, raises $37M series led by Seqouia
Commonwealth, DAO management tooling, raises $20M series A
news:
Stripe & OpenNode partner for instant fiat to BTC conversion for businesses
JP Morgan says crypto has replaced real estate as preferred alternative asset
NFL taps Mythical Games for play to earn game releasing in early 2023
Alan Howard details his crypto investments and thesis on the asset class
SBF says “soft ceiling” of $1B (billion) spend for 2024 presidential election
GameStop releases self-custodial wallet for $IMX integrated NFT marketplace
eBay releases first NFT collection on Polygon ($MATIC)
Dune releases Dune Engine V2, “a new era for web3 data”
CoinDesk launching DESK social token on Polygon for Consensus interactions
thoughts & notes:
instead of the usual two to three paragraphs outlining the narratives and trends I’m watching, I’ll selfishly plug the comprehensive article I wrote earlier this week, Cyclicality & What’s Next
inside there you’ll find an extensive overview covering *most* of the crypto ecosystem along with my thoughts on current sector leaders, protocols to watch, trends developing, and my interpretation of the market through EoY and onwards.
token news:
$IMX releases cross-rollup liquidity solution across L2s & L3s
Synergy between Aura, Balancer, and BTRFLY continues to grow
Wormhole bridge expands to $ATOM ecosystem with $INJ partnership
Yearn Q4 report released, revenue of $44.6M in fiscal year 2021
Mars Protocol to redeploy in ATOM ecosystem on Osmosis (OSMO)
Velodrome AMM to launch on Optimism L2 May 31st
StarkNet Ecosystem metrics dashboard launched
Axelar Network confirms token launch on July 14th and outlines details
around the ecosystem:
please read: Cred with a simple masterclass on altcoin cycles
Vitalik details his thought experiments regarding automated stablecoins
good thread from atareh detailing OpenSea’s new Seaport marketplace
CMS with a deep dive into Synapse
josephdelong outlines the fundamental principles for DeFi
Frogs Anonymous DeFi coverage outlet launches
tweets:
