The Block
Bitcoin’s price has hit $42,000 as it has recovered to pre-Terra crash levels.Liquidations spiked by over $160 million in the past 24 hours, with the majority being short positions.
Quick Take Blur’s NFT marketplace now holds almost 80% of non-fungible token trading volume as activity in the sector spikes. OpenSea’s NFT market share has declined to a low of almost 17% of total trading volume, according to data from The Block.
Quick Take Digital asset investment products recorded a further $176 million inflows last week, hitting a 10-week streak of $1.76 billion — the highest since the bull market peak of October 2021, when futures-based bitcoin ETF products launched in the U.S. Bitcoin funds recorded $133 million of inflows and ether products $31 million, as the first and second cryptocurrencies by market cap reached price levels not seen in 18 months.
Quick Take Franklin Templeton CEO Jenny Johnson reportedly holds BTC, ETH, UNI and SUSHI. Those investments are “small for my overall portfolio,” Johnson told Fortune in an interview.
Quick Take Osmosis, the largest decentralized exchange on Cosmos, and lending protocol UX Chain are proposing a merger. The merger proposal includes integrating UX Chain’s lending logic with Osmosis’ decentralized exchange, aiming to form a comprehensive DeFi hub. If approved, the process will begin with integrating UX Chain’s codebase into Osmosis Chain, combining their capabilities and total value locked. Separate governance votes from each network’s community will guide the merger process, including the
Quick Take SoFi is exiting crypto and giving users three weeks to migrate their accounts to Blockchain.com before automatically liquidating the accounts, the fintech company announced. The firm will no longer offer crypto services due to increased scrutiny of the sector by regulators, according to a report from Bloomberg.
Quick Take The price of Bitcoin has surpassed $40,000 for the first time since April 2022, bolstered by industry-wide enthusiasm around potential upcoming exchange-traded products.
Quick Take Rep. Tom Emmer, R-Minn., who sits on the House Financial Services Committee, criticized the U.S. Treasury Department for having a savior-like complex when asked about its crypto recommendations on Thursday during the Blockchain Association Policy Summit.
Quick Take Indexed DAO, which was hacked for $16 million in 2021, survived two hijacking attempts in recent days by attackers who sought to access the protocol’s remaining treasury. Control of the DAO will return to Indexed’s founders, who plan to distribute the remaining funds to victims of the 2021 hack.
Quick Take Tieshun Roquerre, also known as Pacman, sought to clear the air over what he called “misunderstandings” about the new Ethereum Layer 2 Blast, ranging from “humorous” memes to outright Ponzi scheme criticisms. Roquerre addressed “too good to be true” yields, the rationale behind its invite rewards and the role of Paradigm in Blast’s launch. Blast also responded to concerns that the bridge currently used to send funds to the Layer 2 is a multisig wallet owned and controlled by just five people.
