Research Summary
The report covers a range of developments in the digital asset space from 01-10-2023 to 08-10-2023. It includes updates on Rollbit’s buyback and burn scheme, Celsius’s potential restart, Optimism’s fault proof system, StarkWare’s token unlock delay, SEC’s appeal rejection, Jito Labs’ SOL stake, Blackrock’s BTC ETF prediction, and an OTC scammer. The report also highlights trending assets, TVL growth, fee changes, governance proposals, and new product launches.
Key Takeaways
Significant Developments in the Digital Asset Space
- Rollbit’s Buyback and Burn Scheme: Rollbit announced the full on-chain implementation of their buyback and burn scheme, purchasing 255,252 RLB tokens ($38k) and burning 229,727 RLB.
- Celsius’s Potential Restart: Celsius could potentially restart under the name “NewCo” with plans to distribute $2.3 billion of $BTC and $ETH to customers and list its future stock on the NASDAQ.
- Optimism’s Fault Proof System: Optimism is piloting its fault proof system on the Optimism Goerli Testnet, allowing developers to implement or build any fraud proof system.
- StarkWare’s Token Unlock Delay: StarkWare has delayed the first tranche of $STRK token unlocks from November 29th 2023 to April 15th 2024.
- SEC’s Appeal Rejection: The SEC’s motion to appeal the Ripple ruling, which found $XRP to not be a security, has been rejected.
Market Movements and Predictions
- Jito Labs’ SOL Stake: 31% of stake on the Solana network now runs through the Jito Labs validator client.
- Blackrock’s BTC ETF Prediction: Steven Schoenfield, an ex-blackrock Director, has estimated that the SEC will approve a spot BTC ETF within 3 to 6 months.
- Trending Assets: X2Y2, BNT, and LOOKS were the top performers for tokens below $100M MC. LQTY and RLB performed well for tokens above $100M MC. AVAX was the top performer for tokens above $1B MC.
Scams and Frauds
- HyPC OTC Scammer: An OTC scammer scammed $1 million of the $HyPC token, causing the price to crash by 60% at its lowest point.
Actionable Insights
- Monitor Rollbit’s On-chain Activities: Rollbit’s full on-chain implementation of their buyback and burn scheme could impact the RLB token’s value. Stakeholders should monitor these activities closely.
- Investigate the Potential of Celsius’s Restart: The potential restart of Celsius under the name “NewCo” could present opportunities for customers and investors. Stakeholders should investigate the potential implications of this development.
- Explore Optimism’s Fault Proof System: Developers and stakeholders should explore the potential of Optimism’s fault proof system, which could enhance security and decentralization in the Optimism Superchain.
- Consider the Impact of StarkWare’s Token Unlock Delay: The delay in StarkWare’s token unlock could impact the $STRK token’s value. Stakeholders should consider this in their decision-making process.
- Assess the Implications of SEC’s Appeal Rejection: The rejection of the SEC’s appeal on the Ripple ruling could have significant implications for $XRP and the broader crypto market. Stakeholders should assess these implications carefully.
