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MEXC Research: Major Cryptocurrency Market Events in July

Source: Investopedia

Public Chain

On July 1, the Filecoin mainnet completed its V13 HyperDrive network upgrade at a block height of 892,800 and implemented proposals FIP-0013 and FIP-0008, which will increase the storage and validation efficiency of its network by 10 to 25 times.

EIP-1559 is tentatively scheduled to be deployed on Ethereum’s mainnet on July 14. The Ropsten testnet went online on June 24 and the Ethereum Improvement Proposal, EIP-1559 will be deployed on the Ropsten testnet before being included in the London upgrade.

On July 21, ETC will upgrade to the Magneto hard fork at a block height of 13,189,133. The launch date is an estimate and the actual schedule depends on the successful launch of their testnet. Magneto will include Ethereum’s Berlin upgrade, which features a series of EIPs to optimize gas and transactions.

Layer2

Ethereum’s Layer2 expansion project, Optimism’s mainnet is expected to come online this month to ensure that the entire community can coordinate the launch process, thereby giving more time for the integration, auditing, and testing of the underlying infrastructure, the infrastructure providers, block explorers, wallets, token bridges, and more. Currently, the Synthetix Ecosystem Layer2 Options Protocol, Lyra Beta is online for testing on the Optimism Kovan network. In addition, Lyra has injected the initial liquidity and will open the LPs in the coming weeks.

DeFi

The decentralized lending protocol Aave will work with Fireblocks, a combined multi-layer security company, to launch its first product, Aave Pro, for institutional users in July. The main features of the product include the use of Aave V2 smart contracts and the addition of a whitelist system to allow only KYC participants to access the Aave Pro pools; the initial stage of Aave Pro’s liquidity pools consists of only four assets, namely, Bitcoin, Ethereum, USDC, and AAVE, which have higher institutional demand and are separated from other liquidity pools on Aave. KYC for institutional users will be supported by Fireblocks, which will also add anti-money laundering compliance and anti-fraud control to the Aave Pro market. Aave Pro will be governed by the Aave community.

On July 4, Cloudswap, the Sonala on-chain decentralized exchange, launched a community airdrop campaign. It allocated 10 million CSW to the airdrop where only 5,000 random users will be included in the airdrop distribution whitelist. Each person will receive 2,000 CSW. The airdrop start time is July 4, the end time is July 15, and the airdrop will be distributed on July 30.

On July 6, DeFi Lending Solution Moma Protocol will conduct its IDO on Bounce, selling 138,888 MOMATs at a unit price of 0.36 USDT. IDO whitelist applications are already open. Moma Protocol previously completed a $2.25 million USD funding round, led by Fundamental Labs and SevenX Ventures, with participants such as AU21 Capital and DFG.

DAO

On July 5, CryptoFed DAO, a decentralized autonomous organization, was recognized by Wyoming as the first legal DAO organization in the United States. Wyoming previously voted to pass a law allowing DAOs to be officially registered in the state where state government licenses the DAOs and recognizes the limited companies that wish to convert to DAOs. The law entered into force on July 1, 2021.a

From June 16 to July 7, Gitcoin, an open-source software funding platform, continued to hold its grant event, which was the “Round 10 Hackathon”.

NFT

On July 1, the World Wide Web’s source code NFT from Tim Berners Lee, the founder of the World Wide Web, completed an auction on Sotheby’s auction platform, and the final transaction price exceeded $5.43 million USD. The NFT contains the original timestamp file of the source code and about 9,500 lines of code. The content contains the technical specifications of URLs, HTTP, HTML and more of the Internet developed by Tim Berners Lee.

On July 8, RealFevr, the fantasy football App and NFT market will launch an IDO on Polkastarter. RealFevr aims to revolutionize the NFT ecosystem by combining the decentralized blockchains technology with the uniqueness of football video collections to empower gamers, provide utility for each moment, and offer gameplay involving token fantasy leagues backed by official intellectual property rights.

On July 11, Decentraland, an Ethereum-based virtual game, will host the virtual live music festival “TO THE MOON” at KnowOrigin’s virtual headquarters in Decentraland, which includes electronic music performances by Ookay, SNBRN, Fred Thurst (Dr. Fresch) Autograf, and Win and Woo. Organizers promise to provide exclusive NFT products, where attendees will receive a virtual POAP token and can purchase virtual clothes, including flight jackets and hats.

On July 14, NFT platform TR Lab announced that its first NFT work, “Transient Eternity — 101 Ignitions of Gunpowder Paintings”, will be launched on trlab.com, with a 48-hour online auction. The auction will be transacted in either USD or ETH, and the artwork will be on display until August 14.

Finance

Blockchain game developer Animoca Brands received $50 million USD in its latest funding round, with participants such as Blue Pool Capital, Coinbase Ventures, Liberty City Ventures, and Samsung Ventures, according to Bloomberg News on July 1.

The Block reported on July 1 that the NFT platform Mintable completed a Series A funding round, raising $13 million US with participants such as Ripple, Animoca Brands, Metapurse, Expedia Group, and other investors.

On July 1, Coindesk reported that Spencer Dinwiddie, the star of the NBA Brooklyn Basketball Team, as the founder raised $7.5 million USD for his crypto app, which will be used to accelerate the app’s development and develop partnerships.

On July 2, Coindesk reported that Efinity’s NFT blockchain-based native token EFI under Enjin, a block chain development platform, raised $20 million USD on CoinList and that more than 40,000 participants purchased EFI in two and a half hours.

On July 3, Decentralized artist DAO and NFT market Wilder World announced their acquisition of Digital Currency Group’s (DCG) investment that will help them build a hybrid real-world metauniverse that is fully supported by NFT.

On July 4, the Cross-Chain Infrastructure Protocol DinoSwap announced a $4 million USD funding round, with participants such as Hashed, DFG, Defiance, Spartan, Linkpad, ClusterVC, NeptuneDao, SVC, AngelDao, Kosmos, Synaps, and Pluto VC. DinoSwap establishes liquidity for the Layer1 blockchains, AMM, and other collaborative projects. It was initially launched on Polygon and the DinoSwap products will include Fossil Farm, Extinction Pool, and a DEX aggregator.

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MEXC Global

Founded in 2018, MEXC Global is a centralized exchange that employs a high-performance mega-transaction matching technology. Visit us at https://www.mexc.com/