This Week In Crypto Thread 🔍 🌎 Your quick glance at crypto happenings worldwide
Current Events 👉560M stolen as BNB Smart Chain hacked in another bridge exploit. 👉MakerDAO allocates 500M of its balance sheet to short-term US Treasuries & corporate bonds. 👉US Trademark applications for NFTs & Web3 tools are up 2x YOY.
Spot & Derivatives Markets 👉 BTC & ETH open interest on Binance, world's largest crypto exchange, reached all-time highs
👉 BTC's open interest surged by ~20% since end of September to 183K BTC. Over the same time frame, ETH's open interest rose by 10% to 1.3 million ETH
On-chain Indicators 👉The NUPL ratio, a key metric in evaluating investor sentiment & identifying the tops/bottoms for the price of BTC over the past decade, is back in the capitulation zone after slightly recovering in July-August
Macro & Regulations 👉 Europe's Markets in Crypto Assets – the European Council has passed a landmark crypto regulation dubbed MiCA to the parliament. If approved, the bill will be in effect as of 2024. Here are the main takeaways:
The Metaverse and NFTs 👉Citi predicted the Metaverse's value could reach 13T by 2030 & McKinsey estimated 5T. We created a Metaverse Dashboard
that tracks the 3 largest projects by market cap: (SAND), (MANA), & (APE). Key Takeaways:
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👋 🗞️this twitter thread.