Cardano published its first financial report for the past year.
Key takeaways:
– In 2023, the Cardano Foundation allocated $19.22M across its three mutually reinforcing focus areas.
– The Foundation’s assets amounted to $478.24M, with 82.5% in ADA, 10.1% in BTC, and the rest as USD liquidity.
– Education, aimed at providing information and legal certainty for third-generation blockchains, received $4.18M.
Read the full Cardano report here.
Key takeaways:
– In 2023, the Cardano Foundation allocated $19.22M across its three mutually reinforcing focus areas.
– The Foundation’s assets amounted to $478.24M, with 82.5% in ADA, 10.1% in BTC, and the rest as USD liquidity.
– Education, aimed at providing information and legal certainty for third-generation blockchains, received $4.18M.
Read the full Cardano report here.
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Why does Bitcoin hit new ATHs while Ethereum struggles?
Some thoughts ↓
First, it's the Ethereum scaling meta.
In 2021, the Ethereum meta included Ethereum alone.
Today, the Ethereum meta features dozens of L2s, each vying for liquidity and users. This competition results in fragmentation at all levels, including capital influxes.
Second, it's the DeFi meta.
In 2021, with a similar crypto market cap (close to $3T), the on-chain TVL was 40% higher than today's.
For context, Ethereum has 35% to go to reach an ATH.
Third, it's the influx of institutional capital.
Bitcoin and Ethereum ETFs have shown one simple thing:
For investors, Bitcoin = Crypto.
Ethereum is a beta play, not the alpha play.
Ethereum = DeFi.
Bitcoin = Crypto.
Ethereum will begin outperforming Bitcoin when DeFi (or a new Ethereum-native narrative) becomes an alpha play once more.
Some thoughts ↓
First, it's the Ethereum scaling meta.
In 2021, the Ethereum meta included Ethereum alone.
Today, the Ethereum meta features dozens of L2s, each vying for liquidity and users. This competition results in fragmentation at all levels, including capital influxes.
Second, it's the DeFi meta.
In 2021, with a similar crypto market cap (close to $3T), the on-chain TVL was 40% higher than today's.
For context, Ethereum has 35% to go to reach an ATH.
Third, it's the influx of institutional capital.
Bitcoin and Ethereum ETFs have shown one simple thing:
For investors, Bitcoin = Crypto.
Ethereum is a beta play, not the alpha play.
Ethereum = DeFi.
Bitcoin = Crypto.
Ethereum will begin outperforming Bitcoin when DeFi (or a new Ethereum-native narrative) becomes an alpha play once more.
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ApeChain testnet launch positively impacted the ApeCoin ecosystem last quarter:
– Governance fund grew by 1,007.54%
– ApeChain revenue increased by 77.5%
– Circulating coin supply also rose by 6.84%
Get all ApeChain insights in Messari’s new report.
– Governance fund grew by 1,007.54%
– ApeChain revenue increased by 77.5%
– Circulating coin supply also rose by 6.84%
Get all ApeChain insights in Messari’s new report.
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The performance of Ethereum and its L2 tokens since the start of the month ↓
• $MNT +20.8% | Peak +38%
• $ETH +17.8% | Peak +27%
• $STRK +15% | Peak +40%
• $ARB +12% | Peak +20%
• $ZK +3% | Peak +12%
• $OP -6.7% | Peak +5%
It's hard to say what you need to do as a token in top-150 CMC to have below 10% growth since the start of the bull.
• $MNT +20.8% | Peak +38%
• $ETH +17.8% | Peak +27%
• $STRK +15% | Peak +40%
• $ARB +12% | Peak +20%
• $ZK +3% | Peak +12%
• $OP -6.7% | Peak +5%
It's hard to say what you need to do as a token in top-150 CMC to have below 10% growth since the start of the bull.
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Check out the latest report from OurNetwork on the current state of liquid staking.
Btw, the narrative remains top in DeFi: as I write this post, the TVL for liquid staking hits $58.3B!
Btw, the narrative remains top in DeFi: as I write this post, the TVL for liquid staking hits $58.3B!
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I feel that my entire timeline is now positioning memecoins as the only viable strategy this cycle.
My strong recommendation: Stay rational.
If you've never traded memecoins, don't suddenly reallocate 90% of your portfolio to random memes.
You'll be competing against those who've honed their skills during the bear market. They are far more experienced than you.
It's fine to start learning and allocate a small percentage of your portfolio to high-risk trades to identify the skills you lack and areas for improvement.
Remember, you're a noob.
Be prepared to lose everything.
Pursue skills, not profits.
Even if you get rekt, you gain knowledge.
Stay rational.
PS: I recommend reading an article I posted a few weeks ago about six insights to help you succeed in Web3.
These insights are crucial, especially now during this turbulent bull market with numerous lucrative opportunities.
Add to your read list.
My strong recommendation: Stay rational.
If you've never traded memecoins, don't suddenly reallocate 90% of your portfolio to random memes.
You'll be competing against those who've honed their skills during the bear market. They are far more experienced than you.
It's fine to start learning and allocate a small percentage of your portfolio to high-risk trades to identify the skills you lack and areas for improvement.
Remember, you're a noob.
Be prepared to lose everything.
Pursue skills, not profits.
Even if you get rekt, you gain knowledge.
Stay rational.
PS: I recommend reading an article I posted a few weeks ago about six insights to help you succeed in Web3.
These insights are crucial, especially now during this turbulent bull market with numerous lucrative opportunities.
Add to your read list.
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Meme coins have become one of the fastest-growing categories in the cryptocurrency market over the past month.
> Their total market capitalization has surpassed $120 billion, exceeding that of CEX coins, DeFi tokens, and AI tokens.
> Meanwhile, AI-themed meme coins have risen to the second place in terms of growth and capitalization, reaching over $3.7 billion in market cap in the past month.
The meme rally may continue as long as investor sentiment remains positive towards Bitcoin.
> Their total market capitalization has surpassed $120 billion, exceeding that of CEX coins, DeFi tokens, and AI tokens.
> Meanwhile, AI-themed meme coins have risen to the second place in terms of growth and capitalization, reaching over $3.7 billion in market cap in the past month.
The meme rally may continue as long as investor sentiment remains positive towards Bitcoin.
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According to Nansen, 12% of all altcoins listed on CoinGecko are currently bullish, with a 30-day moving average trending above the 360-day.
Most other altcoins are either moving sideways or hitting key support levels, making this an opportune time to accumulate favored projects.
Altseason kicks off when these lines start curving upward, as seen in January and October 2023.
Most other altcoins are either moving sideways or hitting key support levels, making this an opportune time to accumulate favored projects.
Altseason kicks off when these lines start curving upward, as seen in January and October 2023.
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I’m now doing some big research on AI / Crypto protocols and most capture AI as a buzzword.
Here’s an interesting protocol that is new to my watchlist, with an ongoing campaign distributing 100K $ZK in rewards.
Have a look!
Here’s an interesting protocol that is new to my watchlist, with an ongoing campaign distributing 100K $ZK in rewards.
Have a look!
X (formerly Twitter)
Stacy Muur (@stacy_muur) on X
The AI protocol landscape is becoming increasingly competitive, with many protocols using AI merely as a buzzword.
Here, @heurist_ai stands out with an infrastructure solution aimed at providing serverless AI services.
Deep dive + 100K $ZK reward event…
Here, @heurist_ai stands out with an infrastructure solution aimed at providing serverless AI services.
Deep dive + 100K $ZK reward event…
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The on-chain realized price bands of Bitcoin shows that it could soon reach $100K.
The last time a similar indicator was observed was in March 2024, when BTC's price exceeded $70K for the first time in a long while.
The last time a similar indicator was observed was in March 2024, when BTC's price exceeded $70K for the first time in a long while.
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Are memecoins truly a springboard for gains this bull run?
• What memecoin trackers don't reveal
• Key factors driving cult coins
• The current stage of the memecoin cycle
• The onboarding risk of the meme thesis
In-depth research ↓
Read on Substack
• What memecoin trackers don't reveal
• Key factors driving cult coins
• The current stage of the memecoin cycle
• The onboarding risk of the meme thesis
In-depth research ↓
Read on Substack
Stacy in Dataland
Are Memecoins a Springboard to Gains This Bull Run?
Many have dubbed this year as the "Year of Memecoins." In this publication, I offer my perspective on the current memecoin market, its key drivers, and unexpected risks.
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CoinShares shared a fresh report on financial flows in the crypto market for the past week:
– Inflows into digital assets reached $2.2B, bringing the year-to-date total to a record $33.5B.
– The first half of the week saw significant inflows of $3B, despite Bitcoin's price declining from its new all-time high.
– Bitcoin recorded inflows of $1.48B, $49M of which went into short positions. Meanwhile, Ethereum saw inflows totaling $646M.
The full report is available here.
– Inflows into digital assets reached $2.2B, bringing the year-to-date total to a record $33.5B.
– The first half of the week saw significant inflows of $3B, despite Bitcoin's price declining from its new all-time high.
– Bitcoin recorded inflows of $1.48B, $49M of which went into short positions. Meanwhile, Ethereum saw inflows totaling $646M.
The full report is available here.
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Top early-stage crypto investments from last week:
▪️ Heurist: A decentralized AI-as-a-Service cloud, pooling compute resources from GPUs and data centers.
▪️ Tranched: An on-chain lending platform that helps the real economy access financing transparently, without the need for intermediaries.
▪️ Eidon: A decentralized AI network where human-AI agents collaborate to capture real-world data, training the next generation of multimodal AI models.
▪️ Akave: A decentralized L2 cloud storage solution leveraging Filecoin for cost-effective, immutable, and secure data storage.
▪️ Brevis: A ZK coprocessor or computation network designed to improve blockchain scalability using ZK proofs.
Have you noticed how many new AI & DePIN projects are among them?
▪️ Heurist: A decentralized AI-as-a-Service cloud, pooling compute resources from GPUs and data centers.
▪️ Tranched: An on-chain lending platform that helps the real economy access financing transparently, without the need for intermediaries.
▪️ Eidon: A decentralized AI network where human-AI agents collaborate to capture real-world data, training the next generation of multimodal AI models.
▪️ Akave: A decentralized L2 cloud storage solution leveraging Filecoin for cost-effective, immutable, and secure data storage.
▪️ Brevis: A ZK coprocessor or computation network designed to improve blockchain scalability using ZK proofs.
Have you noticed how many new AI & DePIN projects are among them?
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