The current holding of the fund includes SOL, UNI, ETH, BTC, BCH, LTC, ADA, and LINK. BTC and ETH account for more than 90%, ADA’s allocation is 6%, $BCH, $LINK and $LTC stood at just below 1% each. SOL and UNI will make up 3% and 1% of the fund’s holdings.
The first reason that contributed to the FTM price surge is Nansen added support for Fantom. Nansen is a leading blockchain analytics platform, which tracks blockchain data about token flows, smart contract interactions, and transactions to highlight behavioral patterns of wallets transacting on-chain. The second reason is the launch of Iron Bank Fantom and the first Fantom vaults on beta.yearn.finance; the first vaults on Fantom are: yvWFTM, yvUSDC, yvDAI, and yvMIM. Since new vaults usually offer high APY, it is possible that people are buying up FTM to prepare for this event. The TVL on Fantom has increased from $3.25 billion (Oct 7) to $8.16 billion with much of the TVL being locked at Anyswap and Geist Finance. Geist Finance is a lending and borrowing market which was just launched a few days ago. Some other finance protocols that attract capital flow to Fantom are Abracadabra.money and Beethoven X.
Ethereum Name Service announced a feature that allows users to upload NFT avatars to their ENS profile pictures. This new integration, supported by Uniswap and 1inch, helps provide further customization and serves as a step forward for unique Web 3.0 identities.
Sky Mavis, creator of Axie Infinity, has raised $152 million in a Series B round led by Andreessen Horowitz. Sky Mavis is reportedly valued at nearly $3 billion following the raise. Sky Mavis will use the funds to expand its team and scale its blockchain gaming infrastructure, as well as build a distribution platform for other blockchain-driven games.
Speaking on a panel discussion about the metaverse at Token2049, Aleksander Larsen said that Axie Infinity has about two million daily active players, 50% of whom have never used any crypto application before, therefore, “It’s really hard to begin playing Axie right now.” In a bid to smooth the onboarding process for new players, Axie Infinity studio Sky Mavis last month announced plans to offer new players free starter Axies (currently, new players first need to buy three Axies, which can cost several hundred dollars each). Axie Infinity also wants to educate people who come to blockchain space through the game. It creates an opportunity to educate them about the broader crypto space.
The Shiba Inu (SHIB) coin rose by 266% after Elon Musk posted a picture of his dog. Although some argue that the association is hard to quantify, the coin sets new highs for daily trading volumes—$20 billion on Thursday—making it one of the most traded currencies after Bitcoin, Ethereum, and Tether. According to CoinGecko, DOGE coin ranks 10th and SHIB ranks 12th by market cap.