CryptoEconomics Newsletter 118

5 November, 2022

Metrics and Stories of the Week

FinTech

Swiss Seba Bank launched NFT custody service for Ethereum-based NFT collections.

Coinbase will custody $1.6 billion worth of MarkerDAO’s USD Coin (USDC) treasury.

Source: State of European Fintech 2022, Finch Capital

DeFi

BNB Chain introduced $10M Growth Incentive Program fund to incentivize project growth on the blockchain.

Google is launching a cloud-based node engine service, Blockchain Node Engine, for Ethereum developers and projects.

Source: Glassnode

CryptoFinance

Singapore-based DBS is testing the trading of foreign exchange and government securities using permissioned DeFi liquidity pools on a public blockchain.

Apollo Global Management, with $512.8 billion in assets under its management, has chosen Anchorage Digital to become its custodian for crypto assets.

Source: CryptoDep

NFT

Art Gobblers, an NFT project co-created by Rick and Morty’s Justin Roiland, nabbed more than $13 million just two hours after launch.

GameStop's NFT marketplace is live on Immutable X, a Layer 2 Ethereum scaling protocol.

Source: CoinMarketCap and TokenInsight: Q3 2022 Crypto Market Report

On-Chain

Majority of networks showed a increase of DeFi total value locked in October.

In October 2022, the monthly crypto derivatives exchange volume showed a decrease of 22.8% from the volume registered in September, from $2.46T to $1.90T.

Source: CryptoRank