Research Summary
The report discusses key developments in the digital asset space, including the approval of the Arbitrum staking proposal, the performance of the BLUR token amidst the NFT bear market, the unlocking of Hashflow’s token, HFT, and the launch of a digital asset custody platform by Germany’s third largest bank, DZ BANK. It also covers the recent crypto fund inflows, the Bank of England’s stablecoin bill, and the performance of various assets and trading volumes.
Key Takeaways
Arbitrum Staking Proposal Approval
- Staking Rewards: The Arbitrum staking proposal has been approved, allowing users to stake their ARB tokens and receive a share of 100 million ARB in rewards from the Arbitrum treasury. If 30% of the 1.275 billion circulating ARB tokens are staked, that would amount to 382.5 million ARB.
BLUR Token Performance
- Market Resilience: Despite the NFT bear market and OpenSea cutting 50% of its employees, the BLUR token has increased by 31% in the last 24 hours and 140% since October 12th, reaching a price of 0.36 cents.
Unlocking of Hashflow’s Token
- Token Distribution: $44 million of Hashflow’s token, HFT, will be unlocked on November 7th. The distribution includes $17 million to early investors, $13.52 million to Ecosystem Development, $13.28 million to the Core Team, and $115,000 for community rewards.
DZ BANK’s Digital Asset Custody Platform
- DLT Adoption: Germany’s third largest bank, DZ BANK, has launched a digital asset custody platform for processing and custody of digital financial instruments. The bank predicts that a significant proportion of capital market business will be processed via distributed ledger technology (DLT)-based infrastructures within the next ten years.
Crypto Fund Inflows
- Investment Trends: Weekly crypto fund inflows reached $261 million last week. The cumulative inflows over the last six weeks totalled $767 million, marking the largest inflow since December 2021.
Actionable Insights
- Investigate the Potential of Staking: With the approval of the Arbitrum staking proposal, there may be potential for users to earn rewards by staking their ARB tokens.
- Monitor the Performance of BLUR: Despite the NFT bear market, the BLUR token has shown significant growth. This resilience may be worth monitoring for future trends.
- Consider the Impact of Token Unlocks: The unlocking of Hashflow’s token, HFT, could have implications for the token’s price and distribution. Stakeholders should consider these factors in their strategies.
- Explore DLT-based Infrastructures: With DZ BANK’s launch of a digital asset custody platform, there may be growing opportunities in DLT-based infrastructures for capital market business.
- Track Crypto Fund Inflows: The recent surge in crypto fund inflows indicates a growing interest in the crypto market. Stakeholders should keep track of these trends for potential opportunities.
