Breaking News – Bitcoin plunges more than 10% after Elon Musk’s SpaceX reportedly sold the cryptocurrency
The Wall Street Journal reported on Thursday that SpaceX, which first purchased bitcoin in 2021, wrote down the value of its bitcoin holdings by a total of $373 million in 2021 and 2022 and has sold the crypto. The price of Bitcoin plunged about 10% hours after it was revealed
- Crypto Market Cap Overview
| 14/8/2023 | 21/8/2023 | ||
| Market Overview | Weekly numbers ($mUSD) | Weekly numbers ($mUSD) | WoW %
weekly change |
| S&P | 4,464.05 | 4,369.71 | -2.11% |
| Nasdaq | 13,644.85 | 13,290.78 | -2.59% |
| US 10-year Treasury Rate | 4.16% | 4.26% | 0.10% |
| Crypto Marketcap | $1,219,022 | $1,093,593 | -10.29% |
| BTC dominant | 50.42% | 49.11% | -1.31% |
| ETH dominant | 19.59% | 19.39% | -0.20% |
| Percentage of Staked ETH | 21.38% | 21.60% | 0.22% |
| Lido Dominance in all ETH Staking | 31.77% | 31.88% | 0.11% |
| Lido Dominance in ETH LSD Staking | 86.60% | 86.49% | -0.11% |
| stablecoins | $125,321 | $124,209 | -0.89% |
| Defi | $48,419 | $43,604 | -9.94% |
| Defi: Eth ratio | 21.80% | 21.70% | -0.10% |
| TVL | $41,927 | $38,414 | -8.38% |
| nft | $5,711 | $5,341 | -6.48% |
The Bitcoin 7-day price range has been remaining tight for the past couple of weeks indicating the depressing market sentiment. The news of SpaceX writing down the value of their $BTC possession ignited the sentiment and caused the percent of $BTC supply in profit has just fallen from 73% to 60%. This reflects the ‘top heavy’ market, which had become increasingly price sensitive. With the overall drop in the market and the recent $7M exploitation of Exactly Protocol, the overall TVL has dropped to the lowest point this year.
- Comma3 Opinions
- Fundraising events by Sectors
Infrastructure
Ex-Meta Engineer’s Layer-1 Blockchain Linera Raises $6M in New Funding
Linera, a layer-1 blockchain attempting to tackle scalability issues using ‘microchains,’ said it closed a new $6 million funding round led by venture capital fund Borderless Capital. The firm – founded by a former Meta Novi engineer Mathieu Baudet – has now raised a total of $12 million in funding.
DeFi
Web3 equity trading firm Dinari raises $7.5 million in seed funding
Web3 corporate equity trading firm Dinari secured $7.5 million in seed funding. Investors in the round included Third Kind Venture Capital, 500 Global, former Coinbase CTO Balaji Srinivasan, Sancus Ventures, Version One VC, and SPEILLLP, a member of the Susquehanna International Group of companies, according to a statement. Dinari also said it’s launching a trading platform called dShare that will match tokens with underlying securities 1:1 to allow users to gain exposure to publicly funded corporate equity.
TonUP Fuels Its Growth Six-Figure Investment from TONcoin.Fund
TONcoin.Fund, a $250M TON syndicate, has invested in TonUP, a new launchpad on Ton’s ecosystem. TonUP is a platform on The Open Network (TON) that primarily focuses on the development and growth of cryptocurrencies. As a leading launchpad, it aims to identify cryptocurrencies with high growth potential and provide the necessary support to achieve that growth.
Ellipsis Labs Raises $3.3M Funding To Build Orderbook DEX
The DeFi developer, Ellipsis Labs raises $3.3 million in seed funding round to accelerate the development of Phoenix, a decentralized limit orderbook DEX on Solana. This round is led by Electric Capital with the participation of Robot Ventures, Anagram, CEO of Solana Labs Anatoly Yakovenko, CEO of Polygon Labs Marc Boiron, CEO of Monad Labs Keone Hon, and others.
TRON DAO Ventures Invests $2 Million in CRV and Curve to Launch on TRON and BTTC
TRON DAO Ventures, the investment arm of TRON DAO, has recently bought $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on the TRON and the BTTC networks.
Metaverse
Zepeto, Jump Crypto Joint Venture ZTX Raises $13M for Metaverse Platform on Arbitrum
South Korea’s leading metaverse platform Zepeto is betting big on NFTs with its ZTX joint venture with Jump Crypto, which led the $13 million seed round. The Jump Crypto-led round includes other investors such as Collab+Currency, Parataxis, MZ Web3 Fund, Everest Ventures Group.
Social / Identity
Crypto project using on-chain reputations for governance raises $2 million
JKLabs secured $2 million pre-seed funding from investors like 1kx and Boys Club, focusing on transitioning off-chain governance to the blockchain. JKLabs tackles web3 governance issues through an on-chain platform for contests, hackathons, and grants, replacing traditional models with data-driven voting power.
Web3 Social Data Portal Port3 Network Completed A New Round Of Millions Of Dollars
Port3 Network is focusing on building a Web3 social data portal that focuses on social data acquisition, data aggregation, and a social data layer. Following the seed round led by Jump Crypto and KuCoin Ventures, institutions such as EMURGO, Adaverse Accelerator, and Gate Labs participated in its second round of funding, bringing the total fundraising amount to 10Mln. In addition, Port3 Network also received grants from top ecological entities such as Binance Labs, Mask Network, and Aptos.
Friend.tech secures seed round funding from Paradigm, distributes 100M points in airdrop
Friend.tech, a decentralized social platform, secured seed round funding from Paradigm earlier this year.
Security
Aegis Secures Millions in Seed Funding Round
Aegis, a Web3 security company incubated by Paidun, has completed a multi-million dollar seed funding round. Participants in the funding round included Generative Ventures, Northern Light Venture Capital, and Hillhouse Capital. Aegis aims to create a low-barrier security platform to serve Web3 end-users.
- Market Movement
Immutable zkEVM Testnet is Finally Here: The Gold Standard of Gaming on Ethereum
The Immutable zkEVM Testnet, featuring all of Immutable’s platform products, is officially live. Existing smart contracts and Solidity code can be migrated directly into Immutable’s zkEVM Testnet environment for free.
Crypto lender Goldfinch faces bumpy road after motorbike company defaults on $5m loan
Lenders using decentralized finance protocol Goldfinch may face a big hit after a borrower in East Africa defaulted on a $5 million crypto loan. Goldfinch parent Warbler Labs has accused the borrower, an African motorbike finance company called Tugende Kenya, of making an unauthorized loan to its struggling Uganda-based parent company.
Introducing Safe{Core} Protocol: Solving the wicked problem of smart accounts
Safe introduced a whitepaper for a modular, open-source Safe{Core} Protocol aiming to advance the smart account transition. The first design of the Safe{Core} Protocol puts forth an open-source, modular standard with an additional abstraction layer ‘Manager’ to manage various complexities and interdependencies.
Binance to Shut Down Crypto Payments Service Amid Refocus On Core Products
Crypto exchange Binance to shut down its buy-and-sell service Binance Connect, formerly known as Bifinity, just one year after its launch. The service was rolled out in March last year, in an effort to make traditional financial companies “crypto-ready.”
Bithumb Korea Reports Operational Losses Due to Declining Crypto Trading Volume
According to decenter, Bithumb Korea, the company behind the virtual asset exchange Bithumb, has reported a significant operational loss in the second quarter of 2023.
Mastercard forms CBDC partner program with Ripple, Consensys
Mastercard’s new program aims to bring together key industry players to explore CBDC innovation — with initial partners including Ripple, Consensys and Fireblocks.
- Regulations
13% of applications approved: British regulator discloses crypto registration stats
Since January 2020, almost 300 crypto companies have applied for registration with the Financial Conduct Authority, 38 of which were approved. Most applications (155) were withdrawn by the firms themselves, as the FCA encourages them to resubmit applications later if not all the criteria have been met.
Coinbase Officially Launches in Canada
Coinbase announces its official entry into the Canadian market, backed by the integration of Interac payment rails, with leading banking and payment partners, enabling seamless fund transfers, and the introduction of Coinbase One.
MAS Finalises Stablecoin Regulatory Framework
The Monetary Authority of Singapore (MAS) today announced the features of a new regulatory framework that seeks to ensure a high degree of value stability for stablecoins regulated in Singapore.
PayPal to pause UK crypto purchases starting in October
PayPal stated in an email to select users on Aug. 14 that it will temporarily pause crypto buying services in the U.K. in the coming months. PayPal said it is pausing crypto purchases due to introducing new rules from the U.K. Financial Conduct Authority (FCA).
Comma3 Investment Team