Daily Alpha and Summary. July 23, 2024
Defi
In July 16, Ethena laid out plans to allocate part of its $235M USDT collateral and $45 million surplus reserve to yield generating RWA offerings. Already, they’ve gotten pitches from BlackRock's BUIDL fund for $34 million, Steakhouse Financial with Morpho Blue, and USDM Mountain Protocol.
Bitwise will donate 10% of their ETH ETF profits to Ethereum developers.
They also announced using ENS domain for their custody addresses
Lightning Labs released Taproot Assets on Bitcoin's Lightning Network, calling it the "first multi-asset Lightning protocol on mainnet." TLDR: users can send assets such as stablecoins on Lightning
Base fault proofs are now live on the Base Sepolia testnet
BTC L2 Bitlayer raises $11M in Series A funding round at $300M valuation led by by ABCDE and Franklin Templeton
AltLayer announced a six-month pause in the ALT token vesting schedule following the first unlock on July 25.
Zero1 DeaI to be listed on Mexc
Modular alpha
Avail mainnet and token went live
Manta zk L2 integrates with Nubit DA testnet. Nubit DA is secured by BTC
dYdX v3 crashed during sales negotiations but has so far been recovered with no losses. Only the user interface was affected, with customer funds remaining intact. The crash occurred hours after a report revealed that the team might be planning to sell their v3 platform to potential buyers like Wintermute and Selini Capital
State of the Market
Toyota is looking to incorporate ETH blockchain tech into their vehicles
Net flows for the ETH ETF on day one were positive at +$106.6M, thanks to BlackRock’s +$265.5M daily ETH flow. ETH ETF saw $1.077B in volume on its first day.
Kraken completes Mt Gox BTC distribution to creditors
Kamala Harris likely to speak on Nashville Bitcoin conference
