July 8, 2021       /       Unchained Every day       /       Laura Shin

Every day Bits ✍️✍️✍️

  • Visa reports that $1B fee of cryptocurrency has been spent by way of its crypto-linked credit rating playing cards in 2021.

  • Tesla may perchance possibly additionally face a $25M-$100M impairment loss on its balance sheet this quarter on account of Bitcoin’s wretched performance.

  • Robinhood to pay $15M soft over allegations linked to its crypto unit’s facing of anti-cash laundering.

  • Coinbase has dropped from #1 within the app retailer to #316 in roughly two months.

  • ARK Make investments revealed a deliberate fee of .95% to quilt the working prices of its bitcoin ETF.

  • Zerion, a DeFi investing platform, raised $8.2M in a Assortment A.

  • Tendermint is constructing a execrable-chain app retailer that will publicly birth in September.

  • Index Cooperative, a DAO, closed a $7.7M funding spherical led by Galaxy Digital.

  • N26, a neobank based totally in Germany valued at $3.6B, has plans to birth a crypto trading product.

  • Israel’s Ministry of Defense issued an insist to take 84 crypto wallets linked with Hamas; Israel’s recent president will be given an NFT of the presidential oath earlier than his inauguration.

What Cease You Meme?

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What’s Poppin’?

Axie Infinity, an Ethereum-based totally game, is now the excellent NFT market in crypto. Within the past 24 hours, the platform has executed three cases the amount as OpenSea and over 20 cases the amount of NBA Top Shot.

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Provide: DappRadar

The sport is in-built a identical vein to Pokemon, permitting customers to breed and fight NFTs identified as axies. Using Axie Infinity’s native token, AXS, avid gamers substitute axies, stake the cash for rewards, or rob half in governance, based totally on StartupsZone.

As an illustration:

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All the way thru the last month, AXS rose 230%. Extra importantly, Axie Infinity’s revenue has grown with the project, in particular within the past week, as shown within the chart beneath.

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Provide: Token Terminal

Data from Token Terminal reveals that Axie Infinity introduced in over $3.2M in revenue on Tuesday alone — 10x its day-to-day revenue from 30 days outdated to.

For context, $3.2M in day-to-day revenue is increased than Aave, Compound, Synthetix, Curve, and SushiSwap… blended.

Screen Shot 2021 07 07 at 4.20.26 PM

Provide: Token Terminal

Prompt Reads

  • Coin Metrics on why Ethereum gas prices personal been shedding since April:

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  • @CroissantEth laid out a 24 step ETH investment thesis:

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  • Bitcoin core developer Jeremy Rubin on Bitcoin and quantum security:

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On The Pod…

The Bitcoin Hash Rate Has Dropped. How Lengthy Will It Grasp to Return?

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Kevin Zhang, vp of substitute model at Foundry, breaks down the most recent trends surrounding China and bitcoin mining. Show highlights:

  • how he came across crypto and which Bitcoin OG he joined at Bitcoin.com to assist birth its mining operations arm
  • what Foundry does and its relationship with Digital Currency Personnel (DCG)
  • why DCG wanted to personal out a mining infrastructure substitute
  • what recordsdata from China in early March kickstarted the strategy of the mining ban
  • how China’s Central Television broadcasting company will personal introduced extra scrutiny to cryptocurrencies
  • what the 100th anniversary of the Chinese Communist Party has to attain with its Bitcoin mining ban
  • why the Interior Mongolia and Sichuan Bitcoin mining bans personal been in particular disruptive for Chinese miners
  • how a lot of China’s hash fee Kevin estimates has been shut down since Would possibly possibly perchance merely
  • where are miners relocating to
  • why Chinese mining equipment is no longer going to be allowed to flip on within the US
  • whether or no longer or no longer China’s Bitcoin mining ban will stick
  • why China banning bitcoin mining will be appropriate for the community within the prolonged term
  • what critical risk to Bitcoin’s community is solved by China banning bitcoin mining
  • how a lot Bitcoin’s hash fee will drop and what carry out this may perchance personal on miner revenue
  • why Kevin thinks that Bitcoin is appropriate for renewable vitality
  • how immersion cooling technology works
  • what tangible advantages miners may perchance possibly additionally rating by transferring to North The United States
  • if El Salvador’s volcanic bitcoin mining way is seemingly
  • what Kevin predicts will happen within the Bitcoin mining substitute for the latter half of of 2021

Guide Change

My ebook, The Cryptopians: Idealism, Greed, Lies, and the Making of the First Immense Cryptocurrency Craze, is now on hand for pre-insist now.

The ebook, which is all about Ethereum and the 2017 ICO mania, comes out Nov. 2nd. Pre-insist it this day!

It is seemingly you’ll perchance perchance possess it here: http://bit.ly/cryptopians