DODO Megascope 8.1-8.7 (En)

August 11th, 2022

Dr.DODO brings you our newly launched weekly brief - DODO Megascope, which covers the following sectors:

👀 |Crypto Headline|

Aug 2, Crypto Bridge Nomad Drained of Nearly $200M in Exploit due to a recent update to one of Nomad’s smart contracts made it easy for users to spoof transactions.
Aug 3, on Solana, over 8,000 internet-connected "hot" wallets have been compromised so far, but the source of the attack remains unknown.
Aug 4, Coinbase and BlackRock are partnering up to offer crypto services to institutional investors.
Starbucks to Unveil Web3 Rewards Program, NFTs at Sept. 13 Investor Day Event: TechCrunch.
Prater/Goerli successfully upgraded to Bellatrix on Aug 4.

DYdX has voted to simplify the current reward scheme and to send 25% of the trading rewards to the dYdX treasury.
Angle proposes a DAO-to-DAO $100k swap with Euler Finance to facilitate the synergistic relations between the two.
Shapeshift grapples with maternity leave for DAO contributors.

Only Maker was profitable, of the six major DeFi protocols in the bear market in the first half of 2022.
Lido treasury diversification proposal passed to sell 10 million $LDO to Dragonfly Capital.
Nomad: Up to 10% reward will be given to attackers who return 90%+ of stolen funds.

The Sandbox official Instagram account may be hacked, and users should take precautions against risks.
The total number of STEPN digital shoes has exceeded 700,000 pairs, up to 735,342 pairs. The number of users in the whole life cycle has reached 943,531.
The domain name NFTs.com was acquired by an anonymous buyer for $15 million.

On August 4th, according to BTC.com data, Bitcoin experienced a mining difficulty adjustment at block height 747936, and the mining difficulty was increased by 1.74% to 28.17T.
According to the analysis of blockchain analysis company Glassnode, the ETH burn rate through EIP1559 has reached an all-time low, and the number of ETH burnt accounts for 11% of the total issuance.
Frax Finance co-founder Sam Kazemian proposes to support FRAX redemptions only on PoSETH, not on any PoW alternative fork (ETHPoW) after the Merge.

Web3 social platform Taki completed a $3.45 million seed round, with participation from OKX Blockdream Ventures and others.
KuCoin Ventures completes strategic rounds in sKCS.io, a liquid protocol.
Crypto developer tool Kurtosis has completed a $20 million Series A financing, led by hedge fund Coatue.

Overall, it has been a mixed month, with the fallout from the 3AC incident and expectations for an ETH merger.

Adjusted total on-chain volume down 16.5% to $416B (BTC: -14.6%, ETH: -21.9%):

The adjusted stablecoin on-chain transaction volume decreased by 7.6% to $655.2B. The stablecoin issuance supply contracted by 0.7% compared with the previous month to $137.1B, with USDT staying flat at 47.8%, and USDC decreased to 33.2%. Issued supply is down 4.3% YTD.

BTC miner earnings fell further by 10.6% to $597M; while ETH miner earnings increased by 12.7% to $596M.

A total of 63,254 ETH, equivalent to $83.7 million, was burned in July. The spike in early May was caused by Otherside land NFT sales. Since the implementation of EIP-1559 in early August 2021, a total of 2.57 million ETH has been burned, which is equivalent to $8.46B.

After the NFT market volume fell off a cliff in June, the NFT market fell a further 26% in July to $678M.

Legitimate CEX spot volume increased by 0.6% to $632.7B. Binance ranked first in market share, and FTX surpassed Coinbase for three consecutive months, ranking second. The top three market shares are: Binance 69.4%, FTX 9%, Coinbase 8.1%.

In the futures market, the open interest of BTC and ETH both increased (BTC: +30.9%, ETH: 47.7%), of which CME's BTC open interest increased by 22.5% to $1.69B. The overall monthly trading volume of BTC contracts reduced by 11.5% to $1.15T. While the monthly trading volume of ETH contracts rose by 15.3% to $880B.

In the options market, open interest for both BTC and ETH rose overall (BTC: +11.8%, ETH: +104.4%). However, BTC options monthly volume fell 31.7% to $12.7B and ETH options monthly volume rose 5.6% to $11.4B.

Subscribe to Dr. DODO is Researching

Receive the latest updates directly to your inbox.

Mint this entry as an NFT to add it to your collection.

Verification

This entry has been permanently stored onchain and signed by its creator.

Content Digest

LT-Koq-eHeDwF5e…UgmySJhj3LIcFDk