Welcome to Ztoog Crypto, previously often called Chain Reaction.
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Hello and welcome again to the new and improved Ztoog Crypto publication. This is our fifth version with, in fact, often scheduled information bits, but in addition some recurring segments and options — so in the event you like what you see (or don’t), let me know at jacquelyn@techcrunch.com.
This week roses were purple, violets were blue, the crypto market was inexperienced — for all of you. If you follow me on X, you may need already seen me submit this, however in the event you don’t, I’m sharing the love right here, too.
Anyways, let’s get into it. Here’s what you missed this week: Spot bitcoin ETFs in the U.S. turned one month outdated, Phantom crypto pockets reached new heights for month-to-month energetic customers final month and crypto VC exits were gentle in Q4 2023. More under.
Scheduling be aware: I’ll be OOO subsequent week, so there received’t be a publication.
This week in web3
- Crypto exits stay low however traders stay unfazed
- Solana-based DeFi, airdrops propel crypto pockets Phantom’s consumer base to new heights
- This gaming startup tries to point out ‘AI + crypto’ shouldn’t be a fad
- As spot bitcoin ETF volumes proceed to rise, Bitwise Asset Management predicts a excessive ceiling for development
Crunching numbers
This week the crypto market was trying fairly bullish as the 2 largest cryptocurrencies by market capitalization, bitcoin and ether, each rose about 16.5% on the week, based on CoinMarketCap information. The complete crypto market cap elevated 14% over a seven-day interval to $1.96 trillion.
Earlier this week, Solana additionally briefly took over because the fourth largest cryptocurrency by market capitalization, surpassing the BNB token, which has since regained the place. Solana’s market cap is about $3 billion behind BNB and its value is up nearly 11% on the week.
Our favourite ‘Crypto Twitter’ submit
Calling all builders who didn’t have dates on Valentine’s Day and tweet about zero-knowledge roll ups…this one is, sadly, for you. For these of you who did have plans, it may be time to combat again.
Image Credits: X (opens in a new window)
The newest pod
Chain Reaction is doing a month-to-month collection diving into completely different matters and themes in crypto. This month we’re specializing in NFTs.
For this week’s episode, I interviewed Yat Siu, co-founder and government chairman of Animoca Brands.
Yat co-founded Animoca in 2014 and since then it has invested in greater than 400 web3 tasks throughout a variety of sectors like DeFi, schooling, infrastructure, blockchain gaming and the metaverse.
Animoca additionally has its personal NFT collections, blockchain merchandise and video games, like its web3 NFT-based group Mocaverse, the blockchain recreation and NFT assortment REVV Racing and The Sandbox, a decentralized digital world with over 40 million cell installs. The firm has additionally labored with different well-known manufacturers and personalities, like Disney, WWE, Power Rangers, The Walking Dead, Formula E and Snoop Dogg.
Yat and I talk about the significance of digital property rights, rising NFT communities and what makes a challenge stand out from others.
We additionally dive into:
- Evolution of NFT’s IP
- Building model familiarity
- Asia embracing web3 and NFTs
- The international race for adoption
Subscribe to Chain Reaction on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the most recent episodes, and please depart us a evaluate in the event you like what you hear!
Follow the cash
- Trading-focused Architect raised $12 million spherical led by BlockTower and Tioga Capital
- Fordefi raised $10 million to launch wallet-as-a-service in spherical led by Electric Capital
- Anzen raised $4 million to supply entry to yields backed by real-world belongings
- Mercure DAO raised $1.5 million for its web3 incubator
- Analog raised $16 million in seed spherical to construct cross-chain infrastructure
This record was compiled with data from Messari in addition to Ztoog’s personal reporting.
What else we’re writing
Want to department out from the world of web3? Here are some articles on Ztoog that caught our consideration this week.
- Bluesky and Mastodon customers are having a combat that would form the subsequent technology of social media
- Foundry Group is shutting down and received’t elevate one other fund
- ChatGPT will now keep in mind — and neglect — belongings you inform it to
- Hackers uncover new TheTruthSpy stalkerware victims: Is your Android machine compromised?
- If you’re going to market, your GTM slide must be superior