Research Summary
The report discusses key developments in the digital asset space, including Blackrock’s Bitcoin ETF listing, Grayscale’s confirmed BTC ETF conversion ruling, Prisma Finance’s debt cap increase, Celestia’s mainnet beta launch, Yearn Finance’s tokenomics revamp, and Astar Network’s zkEVM testnet launch. It also highlights Worldcoin’s change in payment currency and provides performance data for various digital assets and protocols.
Key Takeaways
ETF Developments
- Blackrock’s Bitcoin ETF: Blackrock’s iShares spot Bitcoin ETF has been listed on the DTCC, making it the first spot ETF to do so. The ETF has received a CUSIP number and will have the ticker $IBTC if approved.
- Grayscale’s BTC ETF Conversion: The Grayscale spot BTC ETF conversion ruling has been confirmed by US courts. Grayscale has filed a new application to convert the Trust into an ETF, which is currently under review by the SEC.
Protocol Updates
- Prisma Finance’s Debt Cap Increase: Prisma Finance will be raising the debt cap for their four depositable collaterals. This is the final debt cap increase before the launch of $PRISMA, the protocol’s native token.
- Celestia’s Mainnet Beta Launch: Celestia, a modular blockchain network, is preparing to launch the mainnet beta for their network. The mainnet is due by the end of October.
- Yearn Finance’s Tokenomics Revamp: Yearn Finance has revamped the tokenomics of their native token YFI. Token holders can now lock their $YFI for up to 10 years for veYFI, which will serve as the protocol’s governance token.
- Astar Network’s zkEVM Testnet Launch: The Astar Network’s zkEVM testnet, zKatana, is now live. The network aims to empower builders and enterprises to tap into web3 securely.
Asset Performance
- Top Performers Below $100M MC: ARDVRK, OX, and UNIBOT were the top performers for tokens below $100M MC, with increases of 54.19%, 40.68%, and 15.15% respectively.
- Top Performers Above $100M MC: BITCOIN, INJ, and ELON were the top performers for tokens above $100M MC, with increases of 21.49%, 14.41%, and 31.97% respectively.
- Top Performers Above $1B MC: AAVE, LINK, and MKR were the top performing large caps, with increases of 8.32%, 6.65%, and 5.44% respectively.
Actionable Insights
- Monitor ETF Developments: Keep an eye on the developments surrounding Blackrock’s Bitcoin ETF and Grayscale’s BTC ETF conversion. These could have significant implications for the digital asset market.
- Assess Protocol Updates: Evaluate the updates from Prisma Finance, Celestia, Yearn Finance, and Astar Network. These could present opportunities for developers and investors in the digital asset space.
- Analyze Asset Performance: Analyze the performance of the highlighted digital assets. This could provide insights into market trends and potential areas of interest.
