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- While the TVLs across crypto have stagnated due to market uncertainties, Fantom’s ecosystem has been vibrant. Fantom has gained $1.2B (+20%) in TVL over the past week.
- This comes as Andre Cronje and Danielle Sesta, two prominent builders in the crypto space, have shown interest in developing the Fantom ecosystem.
- Andre has been releasing articles about ve(3,3), a new protocol that will launch on Fantom. According to the writeup, Fantom’s top 20 TVL projects will be distributed locked ve(3,3) tokens. This caused Fantom ecosystem tokens to get bid up by investors in hopes of getting a larger share of the ve(3,3) pie.
- Since Paraswap’s airdrop on November 15th, activity on the DEX aggregator has stagnated.
- Before the airdrop, many people speculated and used Paraswap in hopes of receiving a piece of the airdrop. However, with Paraswap’s innovative ‘anti-sybil’ airdrop, only 1.5% of total wallets that interacted with the protocol received the tokens.
- This led to many users being left out and not rewarded for using the platform, even if their intentions were not malicious. Many users also stopped using Paraswap after the airdrop, leading to a downward trend in both volume and users.
- Paraswap’s downfall can be a lesson to other protocols to better design airdrops that are inclusive while less easily abused.
- On-chain data shows that throughout January’s price slump, long-term holders have accumulated bitcoin after months of offloading bitcoin at the end of last year.
- Coupled with the correlation data shown yesterday, it illustrates a transference from shorter-term “weak hands” to long-term “strong hands.”
- A rise in long-term holder accumulation could be a positive indicator for bitcoin price.
- After being spooked by hawkish Fed minutes, investors were expecting a high inflation print yesterday. However, the CPI print came within market expectations at 7% YoY and 0.5% MoM.
- Bitcoin price rallied on the news, and the dollar index slumped to a 2 month low. After testing September lows earlier this week, Bitcoin and the broader market experienced a modest relief rally.
