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🌙 DeFi Market Recovers From 30-Month Low

🌙 DeFi Market Recovers From 30-Month Low

Total value locked across DeFi protocols has risen from $35.8 billion to $42 billion in two weeks.

Mike Gavela
October 30, 2023

Crypto Roundup - Oct 30

The DeFi market has surged to a $42 billion TVL, propelled by escalating asset values and participant influx, with Ether’s price jumping from $1,590 to $1,810 in two weeks, despite potential risks of substantial on-chain liquidations if Ether's price drops. Simultaneously, crypto investments have spiked, with inflows reaching $326 million last week—90% of which went towards Bitcoin, amidst growing optimism for an SEC-approved spot Bitcoin ETF, expected by January 2024. Furthermore, a surge in Bitcoin transactions over $100,000 highlights increased whale activity, suggesting a preparation for a sustained bull market.

Top Stories:

DeFi Market Reaches $42 Billion in TVL: Driven by asset price increases and participant influx, with potential volatility risks.
Crypto Product Inflows Soar to $326 Million: Primarily in Bitcoin, fueled by optimism for an upcoming SEC decision on a spot Bitcoin ETF.
Surge in Large Bitcoin Transactions: Indicates heightened whale activity, setting the stage for a potential sustained bull market.

FUNDRAISES

Andreessen Horowitz planning to target $3.4 billion for next early-stage funds: report theblock.co/post/260015/an…
— The Block (@TheBlock__)
4:28 PM • Oct 30, 2023

Alongside the Strategic Partnership, NEOM Investment Fund is proposing to invest US$50 million in Animoca Brands.
— Animoca Brands (@animocabrands)
11:20 AM • Oct 30, 2023

Today we posted a proposal idea to the Uniswap governance forum describing a novel way to fund Ekubo protocol's development that aligns Ekubo protocol with the Uniswap ecosystem from whence it came.
We look forward to open discussion on this RFC.
— Ekubo (@EkuboProtocol)
3:23 PM • Oct 13, 2023

OTHER HEADLINES

‘I don’t own Bitcoin, but I should,’ says Druckenmiller

Stanley Druckenmiller views gold and bitcoin to be similar, just with a huge age gap.

blockworks.co/news/bitcoin-gold-assets-value-investor

Bitcoin's page on Wikipedia sees highest views since June 2022 amid ongoing rally

Visits to Bitcoin's Wikipedia hit nearly 13,500 on Oct. 24, the highest interest the page has received since June of 2022.

www.theblock.co/post/260033/bitcoins-page-on-wikipedia-sees-highest-views-since-june-2022-amid-ongoing-rally

Starknet to hand out 50 million STRK tokens to early ecosystem contributors

The Starknet Foundation is allocating tokens to those who contributed to the network's development in its early days.

www.theblock.co/post/259963/starknet-to-hand-out-50-million-strk-tokens-to-early-ecosystem-contributors

CME on the Cusp of Replacing Binance as Top Bitcoin Futures Exchange

With a notional open interest (OI) of $3.54 billion, CME is now the second-largest bitcoin futures exchange.

www.coindesk.com/markets/2023/10/30/cme-whisker-away-from-replacing-binance-as-top-bitcoin-futures-exchange

CRYPTO TWITTER (X)

Major highlight from #ftxtrial today:
AUSA Sassoon led Sam Bankman-Fried to describe efforts to *personally steal* $650 million dollars worth of Robinhood shares.
Gov: "And you transferred those shares to yourself?"
Sam: "I'm not sure what you mean."
The receipts 🧵:
1/5
— David Z. Morris (@davidzmorris)
9:54 PM • Oct 30, 2023

It's actually scary how closely we're following this..
— Miles Deutscher (@milesdeutscher)
10:19 AM • Oct 30, 2023

1/ The test for Bitcoin as a macro asset will be ‘What happens if there is a failed Treasury auction?’
This year, Bitcoin rallied during (1) the March bank failures and (2) as Treasury rates have rattled markets
Here is the third test… 🧵
— Ram Ahluwalia, Lumida (@ramahluwalia)
9:41 PM • Oct 30, 2023

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