Key Highlights in Crypto (November 7, 2023)
1. Market Inflows Hit 2021 Bull Run Levels
👉 CoinShares reports $767M inflows into crypto funds over six weeks — the highest since December 2021. Bitcoin ETFs dominate with $842M YTD, while Ethereum sees its largest inflow since August 2022 ($17.5M).
2. FTX Relaunch Bidders Narrowed to Three
Proof Group leads the shortlist for FTX’s revival, per insider sources. Final selection pending.
3. Radiant Capital’s ARB Airdrop
200M ARB tokens allocated for dLP holders locking 6–12 months on Arbitrum/BNB Chain. Claims open until January 31, 2024.
4. SSV Network Incentives Go Live
DAO approves 1M SSV rewards for DVT adoption. A new Cayman-based foundation will streamline operations.
5. Stars Arena V2 Launch in 4 Days
Enhanced creator tools (e.g., GIF support) debut ahead of major upgrades.
6. Sui TVL Soars Past $91M
DefiLlama notes a $10M+ single-day spike — now at all-time highs.
7. Ava Labs Cuts 12% of Staff
Resources pivot toward Avalanche ecosystem growth, per CEO Emin GĂĽn Sirer.
Deep Dive: Bitcoin’s Ordinals Ecosystem
ORDI Surges 40%: What’s Driving Demand?
BRC-20 tokens like ORDI enable ERC-20-like functionality on Bitcoin via Ordinals (deploy/mint/transfer). Key factors:
- Binance listing sparked 60% price hikes.
- “Zoo Coins” (e.g., CATS, FOXS) gain traction post-UniSat Wallet’s swap launch.
- Innovative use cases: Individual satoshis now store unique data, expanding Bitcoin’s utility.
Top BRC-20 Gems Beyond ORDI
- Goosinals: First Ordinals NFT artwork, inspired by Ringers #879.
- Radiant Capital: Multichain lending protocol with ARB incentives.
- StablR: Europe’s new stablecoin project ($3.5M raised).
Selected Reads
FAQ
Q: Why invest in BRC-20 tokens?
A: They merge Bitcoin’s security with DeFi flexibility — low-cap projects like ORDI show explosive potential.
Q: Is Stars Arena V2 a game-changer?
A: Yes. Its creator tools attract social-Fi users, boosting Avalanche’s Web3 appeal.
Q: How does Radiant’s airdrop work?
A: Lock dLP tokens long-term; claim ARB before January 2024.
Tables below compare recent fundraisers:
| Project | Raise Amount | Investors |
|---|---|---|
| Vaas | $200K | ABSeed |
| İzmir Token | $35K | Ocakcı Holding |
| StablR | $3.5M | Deribit, Maven 11 |
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