Krypital Group November Review
👉 News | 👉 Projects updates👉 Events Updates
👉 Market Recap | 👉 About Krypital Group
👉 News
- Company Led by Former NYSE President Buys Crypto News Site CoinDesk
According to The Wall Street Journal, the cryptocurrency exchange Bullish, led by former New York Stock Exchange President Tom Farley, has acquired 100% of CoinDesk through an all-cash transaction. CoinDesk stated that former Wall Street Journal editor Matt Murray will serve as the chair of an independent editorial committee.
- Coinbase Beats Q3 Earnings Estimates While Trading Volume Falls
Coinbase (COIN) topped analyst estimates for the third quarter on earnings and revenue, while falling short in total trading volume expectations.
The crypto exchange reported a third-quarter adjusted loss of $0.01 per share, compared to FactSet estimates for a loss of $0.55 per share, marking it the third consecutive earnings beat for Coinbase. Total revenue for the quarter was $674.1 million, beating analyst estimates of $650.9 million.
- ECB President Says Europe Should Establish Its SEC
According to BitcoinWorld, European Central Bank President Christine Lagarde has proposed the establishment of a European institution analogous to the U.S. Securities and Exchange Commission (SEC).
This move aims to enhance Europe’s financial capabilities to effectively address the pressing challenges in the region. The creation of a European SEC would replace the current chaotic array of regulatory bodies in various countries, which is crucial for raising substantial funds to meet the challenges faced by the region. The new regulatory body is expected not only to streamline supervision but also to improve the efficiency of the entire European capital market. In addition, Lagarde emphasized the integration of financial exchanges across European countries to strengthen the region’s financial system.
- Elon Musk: None of my companies will create cryptocurrencies
On November 4th, according to a reminder from DogeDesigner, the designer of Dogecoin, on the X platform, Elon Musk and his AI project xAI have no association with any such cryptocurrency. Musk responded to this by stating, “It is very clear that none of my companies will create cryptocurrencies.”
- Stablecoin Activity the Highest in Q3 of 2023 With Approximately 400K Daily Active
AddressesBy the end of Q3 2023, activity in the stablecoin category as measured by the number of daily active addresses (DAA) stood at over 400,000 — the highest in any category. In the decentralized finance (defi) category — the next highest-ranked category — the number of DAAs at the end of Q3 was just over 200,000.
According to the findings of Quicknode’s latest study, stablecoins are now ranked the most popular blockchain category after ending Q3 with 400,000 daily active addresses (DAA). In addition, the stablecoin category is the only one to register growth in the three quarters that were reviewed. For instance, in Q1 the average DAAs stood at 317,000 and went up to 450,000 in Q2. In Q3, the category’s DAAs had increased marginally to 461,000.
👉Projects updates
- deBridge
1. deBridge launched deBridge IaaS — a turnkey solution for EVM and SVM cross-chain interoperability, interoperability-as-a-Service (IaaS) is the first-ever cross-chain interoperability subscription service for both EVM & SVM ecosystems, permissionless and permissioned.
Enable complete cross-chain interoperability for your chain with:
1. Seamless Authenticated Message Transfers
2. High-Performance Cross-Chain Trading via DLN Trade
3. Secure Asset Custody with dePort
2. deBridge is now powering high-speed cross-chain deposits to Optimism
in PerpProtocol, The integration opens a near-instant onramp for Perpetual Hot Tub users from 8 chains (including EVM and Solana).
DLN Widget now provides a seamless entry into Perpetual’s Hot Tub dApp, enhancing the user experience with: Faster transactions, Higher capital efficiency, Guaranteed finality, MEV & slippage protection.
- Tap Fantasy
1. Tap Fantasy BSC S7 update content
- Boba Network
1. Supra Oracles Deploys on Boba Network, Supra Oracles has announced its deployment on the Boba Network, marking a significant advancement in blockchain oracle solutions. This collaboration integrates Supra Oracles’ innovative approach to data aggregation and Byzantine fault tolerance with Boba Network’s Layer 2 scaling solution.
2. DEGA’s Integration on Boba Network to Revolutionize Web3 Gaming and Metaverse Development, This partnership is set to create a paradigm shift in the Web3 gaming and Metaverse landscape, offering developers and users an unprecedented level of efficiency, scalability, and immersive experience.
- Injective
1. SPL token integration Injective is the first Layer 1 blockchain outside of Solana to comprehensively support SPL assets. Now, assets from Solana, such as PYTH, can be seamlessly accessed via the Injective Hub and Bridge.
2. OKX and Binance wallet integrations, OKX web3 wallet integrated Injective to allow asset management on the Injective chain, Binance Web3 wallet integrated to allow its users to interact with native INJ and the broader ecosystem.
- PYTH
1. New dApps Using Pyth
Paradex, the first crypto-derivatives exchange built on its own Starknet appchain.
Parifi, a decentralized perpetual protocol on Arbitrum.
Y2K Finance, a suite of structured products designed for exotic peg derivatives.
DexToro, a decentralized derivatives trading platform built on top of Synthetix.
Tectonic, the leading money-market protocol on Cronos.Degen
Bets, a decentralized perpetual protocol built by WINR Protocol on Arbitrum.
Jupiter, launched its novel LP-to-trader perpetual exchange.
Derivio, an institutional-grade structured derivatives ecosystem on zkSync.
zkUSD, allows users to leverage the benefits of collateralized stablecoins while ensuring privacy and security.
Mu Exchange, the first perpetual DEX on Gnosis which uses $sDAI as collateral.
Goku Money, a multi-collateral and capital-efficient stablecoin on the Manta.
DeCalls, a prediction market protocol where anyone can try to guess the future price of $SOL.
RainFi, a lending, borrowing, and BNPL platform, which released the first-ever P2P token loans product.
Dyson Finance, a decentralized exchange that democratizes liquidity for everyone, driving the paradigm shift of “Retail Investors as LPs.”
Basemax, a decentralized perpetual trading powerhouse on Base.
2. DeFi Partner Updates：
Kamino Finance 2.0 launches as a complete and secure DeFi suite for lending, liquidity, and leverage on Solana.
Synthetix to launch their perps V3 on Base.
Avantis launches their public testnet on Base.Paradex, building on Starknet, reached $1B in traded volume.
Pika just reaches a huge milestone of $2B in traded volume.
Lifinity reaches $4B in traded volume on Solana.LayerBank integrates with Pyth’s $wstETH feed.
3. New Blockchains Integrated with Pyth
Boba Network, Core, Zetachain, Chiliz, Viction, NEAR
- Solv Protocol
1. Solv x KTX.Finance: Introducing the New Fund Pool, Solv is excited to announce a collaboration with KTX.Finance, the first and largest perpetual decentralized Perp DEX on Mantle Network. Through this partnership, we will introduce the KTX Delta-Neutral Pool, a new fund that will go live on November 15th.
2. Solv Contribution Program: Solv contributors are passionate, volunteer enthusiasts who teach and share Solv with others. They could be community members who do the weekly tasks to speak for Solv or they could also be ambassadors who lead local communities, organize online and offline events, produce tutorials, share translations, and much more.
https://shorturl.at/iwzX0
👉Event updates
Join us for these and other conferences in the coming months! Let us know if you’d like to meet or possibly co-host a side event, and we’d be more than happy to get in touch. In addition, we would love to attend more industry events to network through speaking or panelist opportunities. If you are organizing any event please get in touch with us at Contact@Krypital,com and we would like to discuss how we can provide support.
* Token 2049 Singapore Sep 13th
👉Market Recap
Bitcoin November Insight
Data: Bitcoin and Ethereum Active Supply at Historic Lows
On November 20th, according to data from The Block, both Bitcoin and Ethereum have hit historic lows in active supply over the past year. Between March 2017 and 2018, over 59% of Bitcoin’s supply was active. However, in the past year, only 30.12% of Bitcoin’s supply changed hands. For Ethereum,
between July 2016 and 2017, over 86% of its supply underwent changes, but last year, only 39.15% of its supply changed hands, also hitting a historic low.
For Bitcoin, hitting a historic low in active supply typically occurs before a block reward halving. The next block reward halving is expected to take place in April next year.
Data: 83.6% of Circulating Bitcoin Supply is in Profit
On November 26th, according to Glassnode’s on-chain weekly report, as the market trading reached the annual high, over 16.366 million BTC (83.6% of the circulating supply) is in a profitable state. This marks the highest level since November 2021, close to the historical peak. However, when measured by the difference between the spot price and the cost basis of the coins, the scale of unrealized profits held by these coins is still moderate. The level of unrealized profits held by investors so far is not sufficient to motivate long-term holders to sell, thereby maintaining a relatively tight overall supply.
CBitcoin-Supportive Milei Wins Argentina Presidential Election, to be Inaugurated on December 10th
On November 20th, according to Bloomberg, Javier Milei, the candidate of the “Free Front” party in Argentina, defeated the current Minister of Economy, Sergio Massa, and won the presidential election on Sunday. It is reported that Milei’s political proposals include the implementation of dollarization, ending currency controls, closing the central bank, significantly reducing national expenditures, and strongly supporting Bitcoin. He had previously suggested using surplus natural gas to mine Bitcoin. Milei is set to be inaugurated on December 10th. This election outcome could potentially impact Argentina’s economic policies and the adoption of Bitcoin.
On November 25th, according to Dune data, the total minting volume of the Bitcoin NFT protocol Ordinals has surpassed 43 million, reaching 43,734,376 units. The current total transaction fees amount to 3,076.9812 BTC, approximately 116,728,492 USD.
👉About Krypital Group
Founded in 2017, Krypital Group is a leading global venture capital firm and blockchain incubator with active arms in North America, Asia and Latin America. Vested in a complete blockchain ecosystem, the company has specific investment funds for both primary and secondary markets, as well as providing end-to-end services such as project incubation, brand management and technical advisory. To date, Krypital Group has invested and incubated more than 100 projects so far.
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