Issue #67

BlackRock file for an ether (ETH) ETF, CME open interest over 100k BTC, miner BTC selling increases & more...

Market Overview

As of the time of writing (Monday 5pm), the total market cap of the crypto asset market is $US1.46T, up (7.2%) from last week.

Below is the weekly performance of the top crypto assets. 

231114 newsletter

News Headline Highlights

 Crypto Asset Project Updates

  • Circle, the issuer of the second largest stablecoin (USDC, with a market cap >$24B), is rumoured to be considering an initial public offering in 2024. While there is no indication of how much Circle would seek to be valued in an IPO, they last tried to go public in 2022 at a $9B valuation.

Regulation Station

The Weekly Deal Room

  • Lightspeed Faction raised $285m for a new crypto fund.
  • Ritual, a company building a decentralised AI compute platform, raised $25m in a round led by Archetype.
  • Stackr Labs, an Ethereum scaling project, raised $5.5m in a Seed Round led by Archetype.
  • Pimlico, an Ethereum infrastructure company focused on account abstraction, raised $4.2m in a Seed Round led by a16z Crypto.
  • Definitive, a platform focused on bringing DeFi to Wallstreet, raised $4.1m in a Seed Round led by BlockTower.
  • Authentik, an NFT authentication platform, raised $4m in a Seed Round led by Menyala.
  • Stablr, a euro-backed stablecoin business, raised $3.5m in a Seed Round from Deribit, Maven 11, Theta Capital and others.
  • Due, a global payments company leveraging blockchain and stablecoin technology, raised $3.3m in a Seed Round co-led by Semantic and Fabric Ventures.

For the first time in 1.5 years, the 90-day change in stablecoin supplies just flipped positive. 

This means that we are finally seeing net capital inflows through stablecoins for the first time since the bear market began.

Source: Glassnode

231114 metric

Similar posts