Gold Mid Year Outlook: 2024 World Gold Council

July 2024: notable shitcoin unlocks

Celsius Network filed lawsuits against users in New York courts to clawback funds withdrawn 90 days before they declared bankruptcy - 𝕏/@medx0

Asia's weekly TOP10 crypto news: Mt. Gox Creditors Confirm Receipt of BTC and BCH Settlements, Russia Considers Permanent Legalization of Cross-Border Stablecoin Payments and Top10 News（0701-0707) — link

Introducing the guide to Digital Assets: Insights and Market Trends by CME Group and Glassnode

The report provides institutional investors with an in-depth analysis of Bitcoin and Ethereum fundamentals, capital flows, market cycles, derivatives markets, and institutional adoption.

Key takeaways:

- Major Asset Dominance: Bitcoin's market cap increased by $1.13 trillion (+370%) since November 2022, and Ethereum's valuation rose by $354 billion (+267%).

- Settlement Volume: Bitcoin's daily on-chain volume is around $46.4 billion, comparable to Visa and Mastercard, with filtered volumes at $6.5 billion.

- Bull Market Correction: Bitcoin's deepest correction since November 2022 was -20.3%.

- ETH/BTC Ratio: The declining ratio indicates shifting market dynamics, with more institutional buy-side pressure on Bitcoin.

- CME Futures Dominance: CME futures represent over 80% of the calendar futures market for Bitcoin and 53% for Ethereum.

For the full analysis, download the guide here: https://glassno.de/3XPCQkx

BofA Securities Research 2Q Earnings Preview

Morgan Stanley: 15 ways to play AI

All Spot ETH ETFs Fees:

> Blackrock: 0.25% [0.12% for the first $2.5B/12 months]
> Grayscale: 2.5%
> Franklin: 0.19% [ZERO fee for the first $10B/31st Jan 2025]
> Vaneck: 0.20% [ZERO fee for the first $1.5B/12 months]
> Bitwise: 0.20% [ZERO fee for the first $500M/6 months]
> Fidelity: 0.25% [ZERO fee in 2024]
> 21shares: 0.21% [ZERO fee for the first $500M/6 months]
> Invesco Galaxy: 0.25%
> Grayscale ETH Mini Trust: 0.25% [0.12% for the 1st $2B/12 months]

🎯🔥 Rapid Fire Takeaways from RWA World’s Newsletter:

📈Tokenized treasuries are ‘growing way faster than stablecoins:’ Securitize CEO

👀Goldman Sachs eyes tokenization projects for institutional clients by year-end

😕U.S. House Fails to Override Biden's SEC Veto of Bill That Would End Controversial SEC Guidance

🐜BNP Paribas, Ant International team up on cross-border payments

📜Partior Announces $60M+ Series B Round to Transform Clearing and Settlement Infrastructure Worldwide

🐲China's Digital RMB Transactions Skyrocket By 630% In 2023

Key takeaways on Web3 secondary market in June by SecondLane

- June is the first month in the year showing a clear sign of the Buyer’s market with buying requests exceeding selling offers on the assets by 75%!
- Valuation spread between Buy and Sell offers on the same assets dropped from 88% last month to 36%

- $883M in order book value in June 2024
- $4.5M avg offered amount; a sharp rise from $3.9M last month
- 55% average premium to last round FDVs
- top projects: Circle, Solana, Scroll, Kraken, Celestia, TON, Pyth, Gunzilla, OpenAI

- $200k median Buy Ask at an $9B average valuation
- 2/3 of Buy Asks come at discount (40% avg discount to last round or spot); 6% at par; 25% with average premium of 80%+)
- $2M median Sell Offer at $6.5B avg valuation
- 40% of deals offered at discount (45% avg discount); 32% at par; and 29% asked for a premium (avg 270%+)

- 2% drop in deals with premiums to previous rounds
- 10% growth in deals at par to previous rounds
- 46% of deals in June came with discount, 25% at par, and 29% with premium to previous round
- 15% median discount to previous round on all deals in June
- top 10% of deals offered at 200% premium or higher to previous round
- bottom 25% were offered at 40% or greater discount to last round

- largest discounts for LP positions in VC funds, CEX, L1s, Wallets, GameFi, blockchain infrastructure and and services
- largest premiums for projects in blockchain analytics, and staking
- largest premiums for Round A, largest discounts for Seed Round

- 57% SAFT and 44% equity deals
- 73% (Pre-)Seed, 27% Rounds A-D
- 70% of deals attributed to the same 5 sectors: blockchain services, DeFi, infrastructure, tech development, GameFi

- Average deal maturity grew to 4 months on Buy Asks and 4.4 months on Sell offers until expiration or transaction
- 60% of deals are active for over 1 month
- Longest maturity among:
- earlier vs later rounds: 6.4 months for Pre-Seed; ~4 months for Seed & Round A vs 1+ months for Rounds B, C, D
- CeFi, Wallet, CEX projects, VC, NFT, Blockchain infra

- 13% of deals continue to circulate without public exposure, with a lower valuation ($4.1B FDV vs $7.4B FDV on public offers)
- Most private deals came for SAFT (76%) at (Pre-)Seed stage (83%) deals for DEXes, EVM, and cross-chain solutions

Reach out to us for the full June 2024 secondary market report

Coatue Reaearch AI Robitics

Global Liquidity and Digital Assets Report by Two Prime

First day of ETH ETF trading:

The inflow is $590.7 million.
The outflow is $484.1 million.

-> The net inflow is $106.6 million.
For comparison, average net inflows per day into #BTC ETFs during first 10 days: $75.7M.

The supply increase of #ETH this year is $155 million.

The demand in one day is almost the same as the supply in 2024.