In A Nutshell The Shiba Inu (SHIB) network recently witnessed a significant token burn, with nearly 798 million tokens removed from circulation in just one week. Despite this aggressive attempt to induce scarcity and potentially increase SHIB’s price, the market’s response was contrary to expectations. The price of SHIB fell by 20% during the same…
In A Nutshell Yuga Labs, the entity behind the renowned NFT collection known as the Bored Ape Yacht Club (BAYC), has recently divested the intellectual property of two of its games, HV-MTL and Legends of the Mara. This strategic move was made to a Web3 gaming company, Faraway. The sale aims to refocus the company’s…
In A Nutshell Ernst & Young (EY), a leading member of the “Big Four” accounting firms, has recently introduced an innovative solution called the EY OpsChain Contract Manager (OCM), which utilizes zero-knowledge proofs (ZK-proofs) on the Ethereum blockchain. This groundbreaking development is designed to aid private companies in managing complex contracts with enhanced efficiency, confidentiality,…
In A Nutshell The intersection of Web3 technology and advertising is witnessing a remarkable transformation with the strategic partnership between Addressable, a Web3 advertising platform, and AppsFlyer, a mobile analytics behemoth. This collaboration is set to redefine the approach towards marketing for Web3 applications by leveraging on-chain data to streamline and enhance user acquisition strategies….
In A Nutshell The Reserve Bank of New Zealand (RBNZ) is paving the way for a digital future by exploring the issuance of a Central Bank Digital Currency (CBDC), dubbed the digital dollar. This initiative is part of a broader effort to modernize the nation’s financial infrastructure in response to the declining use of cash…
In A Nutshell Exchange-Traded Funds (ETFs) represent a crucial aspect of the financial market, allowing investors to trade a collection of assets like cryptocurrencies on exchanges throughout the trading day. ETF fund flows, indicating the movement of money into and out of these funds, offer insights beyond simple performance metrics. They reveal investor sentiment, market…
In A Nutshell The imminent launch of Bitcoin Runes, alongside the Bitcoin halving, heralds a new chapter for fungible tokens on the Bitcoin network. Despite initial enthusiasm, a DeFi researcher, Ignas, predicts a potential decline in Runes’ value post-launch, akin to memecoins due to their initial lack of utility. However, there’s optimism for long-term prospects…
In A Nutshell The anticipation surrounding Bitcoin’s upcoming halving event, set for April 20, 2024, has sparked a notable increase in market volatility. Recent analytics have highlighted a significant rise in the Implied Volatility of Bitcoin options contracts expiring in April, jumping from 62% to 75% over a single weekend, as reported by Kaiko. This…
In A Nutshell The impending Bitcoin halving event, scheduled to occur in less than three days, has garnered significant attention, particularly concerning its impact on miners. With historical patterns suggesting a potential increase in Bitcoin’s value post-halving, miners have been gearing up by investing in more efficient machinery and liquidating holdings to prepare for the…
In A Nutshell: Web3 Investment Surges in Q1 2024 The first quarter of 2024 has witnessed a significant uptick in Web3 investments, with a 55% increase compared to the previous quarter. This resurgence in venture capital (VC) interest is further underscored by a 36% rise in Web3 VC investment deals. The spotlight has been on…