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Welcome to TechCrunch Crypto, previously generally known as Chain Response.
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Howdy and welcome again to the brand new and improved TechCrunch Crypto publication. That is our fifth version with, after all, usually scheduled information bits, but in addition some recurring segments and options — so for those who like what you see (or don’t), let me know at jacquelyn@techcrunch.com.
This week roses have been purple, violets have been blue, the crypto market was inexperienced — for all of you. If you happen to follow me on X, you may need already seen me post this, however for those who don’t, I’m sharing the love right here, too.
Anyhow, let’s get into it. Right here’s what you missed this week: Spot bitcoin ETFs within the U.S. turned one month previous, Phantom crypto pockets reached new heights for month-to-month energetic customers final month and crypto VC exits have been mushy in This autumn 2023. Extra beneath.
Scheduling be aware: I’ll be OOO subsequent week, so there gained’t be a publication.
This week in web3
- Crypto exits remain low but investors remain unfazed
- Solana-based DeFi, airdrops propel crypto wallet Phantom’s user base to new heights
- This gaming startup tries to show ‘AI + crypto’ is not a fad
- As spot bitcoin ETF volumes continue to rise, Bitwise Asset Management predicts a high ceiling for growth
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, in line with CoinMarketCap data. The total 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 worth is up virtually 11% on the week.
Our favourite ‘Crypto Twitter’ publish
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 could be time to battle again.
Picture Credit: X (opens in a new window)
The newest pod
Chain Response is doing a month-to-month sequence diving into totally different subjects 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 Manufacturers.
Yat co-founded Animoca in 2014 and since then it has invested in additional than 400 web3 tasks throughout a variety of sectors like DeFi, training, 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 cellular installs. The corporate has additionally labored with different well-known manufacturers and personalities, like Disney, WWE, Energy Rangers, The Strolling Lifeless, Method E and Snoop Dogg.
Yat and I focus on 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
- Constructing model familiarity
- Asia embracing web3 and NFTs
- The worldwide race for adoption
Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the newest episodes, and please depart us a assessment for those who like what you hear!
Observe the cash
- Buying and selling-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 Electrical Capital
- Anzen raised $4 million to offer 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 listing was compiled with data from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed here are some articles on TechCrunch that caught our consideration this week.
- Bluesky and Mastodon users are having a fight that could shape the next generation of social media
- Foundry Group is shutting down and won’t raise another fund
- ChatGPT will now remember — and forget — things you tell it to
- Hackers uncover new TheTruthSpy stalkerware victims: Is your Android device compromised?
- If you’re going to market, your GTM slide needs to be awesome
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