Research Summary
- Report highlights the launch of friend.tech, a social networking app where users can buy and sell shares of other users.
- Rollbit burned 11M RLB ($1.9M) as part of its new tokenomics upgrade, leading to a 25% gain in RLB.
- Sandbox will unlock 332.55M $SAND tokens on August 14th, valued at $135 million, representing 16.6% of the Sandbox’s Market Cap.
- An anonymous market participant, nd4.eth, has burned a cumulative $8.5 million of crypto assets, including various tokens and NFTs.
- Justin Sun deposited 178,545.18 stETH ($332.5m) into Maker to mint $135.8m of DAI, deposited into Makers DAI Savings Rate (DSR) to earn 8% yield.
- SparkDAO SPK pre-farming airdrop aims to incentivize usage of Spark Protocol, with objectives of trust and liquidity boost, and community alignment.
- y00ts will migrate to Ethereum from Polygon, returning 100% of the $3m provided by Polygon to incentivize the migration.
- Top 300 Losers include WLD, down 7.90%, and BITCOIN, down 7.77%, while top performers below $100M MC include ICE, up 19.69%, and VELA, up 19.31%.
- Several governance proposals are highlighted, including proposals related to liquidity hubs, launchpads, and partnerships.
Actionable Insights
- Investment Opportunity: The launch of new platforms like friend.tech and the tokenomics upgrade by Rollbit may present investment opportunities.
- Market Watch: The unlocking of $SAND tokens and the migration of y00ts to Ethereum could have significant market impacts.
- Strategic Alignment: SparkDAO’s airdrop and Justin Sun’s utilization of Maker’s DSR reflect strategic financial moves that may influence similar actions by other entities.
- Trend Analysis: Monitoring top performers and losers in the crypto market, as well as governance proposals, can provide insights into market trends and potential investment strategies.
