#26 Macro Markets (15th-21st July'23)

Institutional Money Flow, Top Movers, Narratives, Security, Regulations and everything about the crypto Economy.

Author

The Sixth Sense
July 21, 2023 

Welcome to the twenty-sixth issue of the Macro Markets. Let’s see overall market sentiment.

Price Action

Market Overview in H1:

Crypto Market Cap:

Crypto Today:

Top Gainers of the Day:

Fear and Greed Index(Neutral):

Volatility in crypto markets are near all time low:

Full insights into the Choppy and Sideways state of the market

Moving to major events in the centralized crypto world.

BTC’s inverse correlation with the U.S Dollar has significantly weakened in 2023, dropping from -61% to -10%

Coinbase ($COIN) is outperforming most crypto-linked investments, with returns of +65% since mid-June.

Open interest for altcoins is rising faster than BTC following the Ripple v. SEC ruling.

$XRP has outpaced Bitcoin, capturing 21% of total crypto volume following the U.S. court ruling.

In H1 2023, there are 395+ major hacks (386 DeFi related) in Web3 space, leading to ~$479.4m loss.

In H1 2023, the total value of laundered, stolen crypto funds is ~$244.5M.

Manta Network developer p0x labs raises $25 million, launches Layer 2 for ZK apps

$60m Anubis DAO rug pull analysis:

Tesla's digital asset holdings remained unchanged, with $184 million worth of digital assets still included on its balance sheet as of Q2 2023

After remaining inactive for eight years, a wallet address containing pre-mined Ethereum worth $116 million has transferred all of its 61,216 Ether to an address on the Kraken Cryptocurrency exchange.

BinanceLabs has invested $10M in DeFi Lender RDNTCapital:

Argo nets $7.5 million in oversubscribed share sale, plans to pay off debt

Institutional Interest Spikes as BTC and ETH CME Futures Hit $46.8B in Trading Volume in June:

Latest ‘auto-burn’ removes $480 million worth of BNB from circulation

Binance is facing growing competition from offshore exchanges

Cathie Wood's Ark Invest sold $26.3M worth of Coinbase shares on Monday, marking its third sale of the crypto exchange’s stock in recent days.

Aave newly launched algorithmic dollar-pegged stablecoin, $GHO, has seen 2.76 million coins minted in 48 hours of its release, according to Etherscan.

FTX administrators file to recover $71M from its philanthropic and life science arms

Polygon and Solana Foundation lead $30 million seed round in crypto startup

Ferrari worth $2.5 million is now a Polygon NFT.

Coinbase Borrow, which gave loans on up to 30% on BTC, is shutting down:

Risc Zero raises $40M Series A:

Cosmic Wire raises $30M in the Seed round:

CEX Market Statistics:

Liquidation Heatmap:

Open Interest:

Cummulative Long:Short in the market:

Good reads

A detailed thread on LSDfi & LSD narratives after the Shapella upgrade:

Steps to grow your own community:

Sitting still is killing you:

If you were getting paid to tweet, would you tweet more ?

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