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March 23, 2023 (Investorideas.com Newswire) Not only did this West African asset reach critical mass, but also it has “ample room to grow,” noted an Echelon Capital Markets report.
Thor Explorations Ltd. (THX:TSX.V; THXPF:OTCMKTS; THX:LSE) more than doubled the size, through drilling, of the resource at its 70%-owned Douta gold project in southeastern Senegal, reported Echelon Capital Markets analyst Ryan Walker in a March 20 research note. To reflect the increase, Echelon raised its target price on Thor.
“The impressive resource growth illustrates the potential for Douta to become Thor’s second operating asset in West Africa (potentially largely funded via internal cash flow), which should help derisk the story and ultimately help close the valuation gap with peers,” Walker commented.
At CA$0.30 per share today, Thor is still trading “at steep discounts to peers,” noted Walker. This figure compares to Echelon’s new target price on the gold explorer-developer of CA$0.75 per share, just increased from CA$0.65.
The difference between the current and target prices implies a significant, 150%, potential return for Thor investors. The company is rated Speculative Buy.
Resource Update Specifics
The analyst explained that the maiden resource estimate for Douta, prepared in 2011, comprised 730,000 ounces (730 Koz) of gold in the Inferred category.
Now, with the update, the global resource stands at 1,780,000 ounces of gold. Of this, 874.9 Koz are Indicated, and 909.4 Koz are Inferred. Areas included in the revised Douta resource are Makosa, Makosa Tail, and Sambara.
“Importantly, all of the deposits remain open along strike and downdip within a roughly 20-kilometer-long prospective corridor,” wrote Walker.
The analyst noted the updated resource incorporated 64,567 meters (64,567m) of drilling and is based on a 0.5 gram per gold ton cutoff grade.
Ongoing Work at Project
As for the metallurgy of the Douta resource, Walker reported it consists of 86% sulfide mineralization. The remaining 14% is variably oxidized.
According to the results of early metallurgical testing, the oxide material may be recovered using typical gravity/carbon-in-leach methods. The sulfides may be recovered using biological or pressure oxidation; test work continues to determine the optimal process.
Also in progress is 40,000m worth of drilling at Douta, noted Walker. The objectives of this program are to convert Inferred resources to Indicated and extend known areas of mineralization along the prospective corridor.
“The drilling is in anticipation of a preliminary feasibility study later this year,” Walker wrote.
1) Doresa Banning wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures for Echelon Wealth Partners, Thor Explorations Ltd., March 20, 2023
U.S. Disclosures: This research report was prepared by Echelon Wealth Partners Inc., a member of the Investment Industry Regulatory Organization of Canada and the Canadian Investor Protection Fund. This report does not constitute an offer to sell or the solicitation of an offer to buy any of the securities discussed herein. Echelon Wealth Partners Inc. is not registered as a broker-dealer in the United States and is not be subject to U.S. rules regarding the preparation of research reports and the independence of research analysts. Any resulting transactions should be effected through a U.S. broker-dealer.
Company: Thor Explorations Ltd. | THX:TSXV
I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities orissuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.
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2023 could be the year that GameFi really starts to take off. More and more exciting GameFi projects are joining the space as the traditional gaming industry looks destined to change forever.
The best GameFi projects deliver integrated financial rewards to players across various genres. For anyone looking to invest in blockchain gaming for the long term, here are 12 of the very best projects that the sector has to offer:
Metacade will contain the broadest selection of blockchain gaming experiences in Web3, as the new GameFi project will be home to many different play-to-earn games. Unlike traditional online games, Metacade allows anyone to earn in-game rewards while having fun and competing online.
There is a wide variety of titles available in this metaverse arcade, combining casual and competitive gameplay. This is a truly comprehensive GameFi experience. By offering advanced incentive structures and displaying the latest trends in blockchain gaming, the project aims to become a central hub for Web3 users.
Metacade’s Create2Earn feature will reward content creators with MCADE tokens for their contributions to the community. This can include posting game reviews, sharing alpha and in game assets, and interacting with other members’ posts.
As well as this, Metacade will advertise open positions at some of Web3’s hottest start-ups. This allows crypto enthusiasts to kickstart a career in Web3, as Metacade’s Work2Earn feature is designed to expand the blockchain workforce, which can help to boost the overall level of innovation in the sector over time.
Metacade’s Metagrants program is also specially designed to help drive GameFi forwards. The community can vote to decide which new blockchain games are best before the project provides funding to the development team. This helps to ensure that the best GameFi projects can develop and reach the market.
The MCADE token has just launched during a presale event. The MCADE presale has been a huge success so far, as the project has raised $12.9m in 17 weeks since the beginning of the event.
MCADE’s presale success is a testament to its attractive offering, since blockchain gamers worldwide can access a broad platform that offers generous cryptocurrency rewards. Web3 games typically offer only one gameplay option, but Metacade offers many.
For now, the price of MCADE is just $0.02 and it’s in the final stage of the presale before listing on exchanges. Experts are forecasting significant gains for the new token, as its unique offering within Web3 could lead to it becoming one of the best GameFi projects in the space.
>>> You can participate in the Metacade final stage presale here <<<
STEPN is an innovative move-to-earn ecosystem that allows consumers to earn rewards for completing steps on the StepN platform. StepN’s innovative reward system does not require any monetary contribution from its users and requires only a few seconds of effort to complete each step.
STEPN’s revolutionary incentive model generated significant interest when the STEPN token was first launched in 2022. The platform benefits its users with real-time financial rewards for something they do every day.
Using STEPN, users can move faster and travel less than with traditional systems, allowing them to maximize their profits with minimal effort. StepN is quickly becoming the industry leader, altering blockchain gaming’s play to earn model to incorporate new social use cases.
GMT is just one year old, yet it has already made a significant footprint in Web3. The STEPN platform is a unique and innovative modification of popular blockchain game mechanics, which could lead to it becoming one of the best GameFi projects in the crypto space.
After reaching its all-time high at $4 during the crypto winter of 2022, STEPN is now valued at just $0.40. Experts forecast over 10x gains for the new token as it reclaims its previous high and enters price discovery over the coming years.
Illuvium, or ILV, is a blockchain game built on the Ethereum platform. It is a fantasy world set in a vast open-world metaverse that allows players to freely explore the impressive virtual landscape. Illuvium combines photorealistic graphics with an in-depth plotline to keep players engaged, making it one of the most sought-after GameFi games around.
Players can collect rare creatures called Illuvials, as well as battle and trade them in the Illuvial arena to earn cryptocurrency rewards. By forming guilds and collaborative alliances, players can play directly with other blockchain gamers, which adds a cooperative element to the game.
Illuvium also allows players to trade collectible items as non-fungible tokens (NFTs), such as IlluviCrafts and IlluviShares. The addition of blockchain technology ensures that all gameplay is transparent and secure – allowing players to instantly receive rewards for their victories that have innate financial value.
Illuvium has been described as a true AAA game on the blockchain thanks to its advanced graphics and vast open-world map. Fantasy gamers can enjoy a massive open world filled with new experiences while gaining the benefits of blockchain through player ownership over in game items and digital currency rewards.
As one of the best GameFi projects to be released in recent years, the progress made by the Illuvium team has been rapid. The ILV token climbed to an all-time high of almost $2000 during the 2021 bull market and now finds itself below $100. This could be a great entry point for one of the most promising GameFi tokens in 2023.
With just 2.2 million ILV tokens in circulation, it is one of the most scarce GameFi cryptos in Web3. As demand for Illuvium grows, investors can be confident that ILV, the in game currency, will reclaim much of its previous value as it aims to breach the $1000 mark.
ApeCoin (APE) is a newly-released token that represents the APE Foundation. While not strictly a GameFi project, ApeCoin aims to usher in a new era for the internet by encouraging the development of metaverse-based communities. This has led to the APE Foundation backing several top game finance projects, including Otherside.
Otherside is a major open-world metaverse widely considered one of the best GameFi projects currently being developed. The game is a virtual reality world filled with exciting quests and stunning scenery, allowing players to earn cryptocurrency rewards for their game progress.
APE Foundation, inspired by Yuga Labs’ Bored Ape Yacht Club (BAYC) NFT collection, is the decentralized autonomous organization (DAO) that helps govern the development of Otherside and other projects within the APE Ecosystem. This gives it an important role in driving progress for GameFi companies in Web3.
APE is one of the most popular governance tokens in Web3. All holders gain voting rights in the ApeCoin DAO, which determines how the APE Foundation acts. Given the team’s previous successes behind the project, this is a strong use case for a cryptocurrency token.
APE is expected to rise significantly in value before the release of Otherside, a hotly anticipated GameFi project. The contributions made by the APE Foundation could revolutionize the traditional gaming industry over time, as the blockchain gaming ecosystem looks set to grow thanks to the ability to earn in-game assets while exploring virtual worlds.
For now, the APE token is valued at $5. Since the token launched in 2022, it has major potential for future returns as it has yet to fully enter price discovery during a crypto bull market. As a result, the APE token could be a great option for anyone looking to invest in the future of metaverse-based gaming.
Decentraland (MANA) is a virtual world on the Ethereum blockchain. It enables users to create, experience, and monetize content and applications within a virtual environment. This unique offering is a key reason why Decentraland has become one of the leading GameFi projects in Web3, as anyone can build fully-customizable creations on top of purchased land.
Decentraland leverages gaming NFTs to provide ownership rights over in-game assets, including land parcels and other ownable items such as buildings, artwork, clothing, and accessories created by Decentraland’s users.
MANA is the native token for Decentraland, which can be used for transactions within the universe or converted into assets. Unlike traditional video games, Decentraland allows anyone to buy, sell, and trade entire map sections. This gives players more world-building power than ever before.
MANA is one of the top GameFi projects due to its unique offering, which could expand to include additional services over time. The Decentraland platform has many different GameFi projects and custom experiences, including Las Vegas-style gambling and play-to-earn assault courses.
Decentraland has the potential to grow over time as the browser-based platform is completely driven by its users. Anyone can purchase land in Decentraland using MANA tokens, which gives MANA innate utility and the ability to experience constantly increasing demand.
For now, MANA is priced at $0.60 after falling 90% from its all-time high. It faces strong resistance as it tries to reclaim this previous price level, but many experts suggest it will form new highs over time. This makes it one of the best GameFi cryptos to buy right now.
Axie Infinity (AXS) is a blockchain-based collectible game where players can purchase, breed, and battle fantasy creatures called Axies in a virtual environment. Axies have unique traits that can be unlocked by performing various tasks and challenges.
As gamers play Axie Infinity, they can maximize their Axies’ power level by collecting and trading additional NFTs. This can give players an edge in battle and help them to earn in game rewards in the form of AXS tokens.
AXS, as well as being used to reward gamers for their progress, serves as the main currency for transactions inside the Axie Infinity marketplace. AXS makes it easier for users to collect and trade rare Axies as they seek to build the best collection capable of beating all the competition.
Axie Infinity became the most widely-used GameFi platform in Web3 during the 2021 bull run. It began to attract almost 2 million daily active users, which is a testament to it being one of the best GameFi projects in terms of how addictive it is to play.
However, the AXS price has recently suffered after the Ronin Bridge – a unique GameFi protocol built specifically to support the game – was hacked. It was the largest hack in the history of Web3, as over $600 million of user funds were lost. After being worth $160 per token, AXS is now just $10.
The Axie Infinity team has already improved the security protocol for the platform, and the game continues to attract a significant player base. Many investors have suggested that AXS will recover over time, making the $10 price level a great long-term entry point.
Yield Guild Games (YGG) supports blockchain-based games by focusing on bringing together players and crypto-economics. As a DAO, the project’s core aim is to collect in-game NFTs with a view to optimizing them for in-game economies and making a profit for shareholders.
YGG purchases in-game assets, whether virtual land parcels, rare collectible items, and much more. The project then rents out these assets to gamers, who exchange the relevant GameFi project’s native token to use it.
The core idea behind Yield Guild Games is that, as the best GameFi projects become increasingly popular over time, the value of in-game assets increases due to rising scarcity and more demand. Yield Guild Games owns a massive collection of NFT collectible items across various GameFi platforms and has a unique goal for future growth.
The YGG token peaked at $10 during the 2021 bull market and has since fallen to $0.30. This is largely due to a widespread crypto winter that has affected much of the market – including collectible NFTs and all GameFi cryptos.
Yield Guild Games’ price decline is a direct by-product of this, as the value of in-game assets impacts the DAO and its governance token. The DAO is predicated on the idea that in-game NFTs will increase in value over time. While playing, NFTs might become cheaper to attract global users. Existing and scarce NFTs are highly likely to increase from early-2023 price levels.
Yield Guild Games is expected to rise from the $0.30 price, making it one of the best GameFi projects to buy now. The YGG token is directly influenced by the entire blockchain gaming sector’s success, making it an interesting investment opportunity.
The Sandbox metaverse enables people to come together to create, own, and monetize their own video game experiences. The platform integrates blockchain, 3D gaming assets, and cryptocurrency rewards for unprecedented user control and ownership over content.
The native ERC-20 SAND token allows The Sandbox gamers to create, purchase, trade, and monetize custom games. This can include collectible items, world-building items, and even full games with customizable rulesets. The SAND ecosystem emphasizes empowerment in digital gaming, allowing creators to earn rewards when they share their gaming ideas with others.
The Sandbox encourages an equitable environment that promotes the free market exchange of creations, as The Sandbox ecosystem includes an integrated NFT marketplace where game developers can sell their creations. The SAND token is the platform’s medium of exchange, minimizing developers’ fees and rewarding users for their creativity.
By prioritizing user-generated content (UGC) at the game’s foundation, The Sandbox has become one of the best GameFi projects in Web3. SAND is currently the most valuable GameFi crypto by market capitalization, demonstrating the game form’s popularity and uniqueness.
Many have described The Sandbox as similar to Minecraft, except with integrated financial benefits. Since Minecraft has global appeal, investors can also be confident that The Sandbox would have a similar level of demand over time.
For now, the SAND token is worth $0.70. As one of the top GameFi tokens, it is expected to reclaim its all-time high of $7.50 over the coming years. As a result, the $0.70 price level could be the perfect opportunity to get involved in the long term.
My Neighbour Alice (ALICE) is a new type of blockchain gaming platform that allows users to collaborate and create their own virtual worlds. Players can design avatars, customize properties, and farm assets, all with the help of NFTs.
ALICE has a unique economy powered by the ALICE token, allowing users to trade items or collaborate in cooperative projects. My Neighbour Alice uses an innovative combination of blockchain technology, digital asset management, and smart contracts to enable the entire gaming experience for its users.
This unique platform is open to gamers of all skill levels for endless adventures on the blockchain. It is designed to appeal to both traditional and blockchain gaming markets, as the game takes a popular genre and remodels it – allowing for in-game assets to be traded and financial rewards to be earned.
My Neighbour Alice became one of the best GameFi projects after experiencing rapid growth when it first launched in 2021. The game is still relatively new, yet it has already attracted a significant user base.
The GameFi project has been inspired by Animal Crossing, which millions of people worldwide have played. ALICE could rival its counterpart over time, as it combines the best gameplay elements with additional blockchain-based benefits.
ALICE is currently worth just $1.84 after falling over 90% from its all-time high. This gives it major upside potential, and it could grow substantially from the current price level as the game develops and attracts more users.
Game of Silks is an NFT collectible game related to real-world thoroughbred horse racing. Gamers can purchase NFTs representing real horses and own stock in stables to rear new thoroughbreds.
The game is a digitized version of real-world horse breeding, where significant risks can damage a particular horse’s ability to win races. Players purchase horses as NFTs and gain real-time updates about their condition. However, many thoroughbred horses never make it to races, and most don’t win.
If a player purchases a race-winning NFT, the horse still may not be fit to breed. If a player buys a breeding NFT, then the NFT earns points and token rewards accordingly. Game of Silks is an innovative use case for blockchain gaming, as players can earn cryptocurrency rewards according to how well horses perform in the real world.
SILK is a new token that will appeal to anyone looking to own their own racehorse. A key element of the game is that users can purchase horses as infants and watch them grow to become champion racers at some of the world’s biggest events.
If a player buys a successful horse, the rewards can be major – just as in the real world. By merging the digital and physical realms, Game of Silk is a unique and innovative use case for blockchain gaming that could revolutionize the sport of horseracing over time.
Splinterlands is an NFT collectible card game that allows players to build a collection of cards before battling against other players online. The game is inspired by older collectible card games such as Yu-Gi-Oh! and Magic The Gathering, which has been a driving factor behind its early successes in the blockchain space.
The game combines aspects of traditional non-blockchain gaming and mixes them with the benefits of cryptocurrency. Users can earn automatic financial rewards with the SPS token, as blockchain provides a revolutionary new gaming experience for a classic gaming genre.
Splinterlands’ core mission is to create an entertaining and meaningful game that promotes blockchain technology education. The GameFi platform uses NFTs that can be bought, sold, or traded in Splinterlands’ marketplace, allowing anyone to profit while maximizing their battle performance.
Splinterlands is one of the fastest-growing blockchain games. It is built on a consumer-friendly blockchain that can scale globally, and the platform has grown to become one of the most popular titles in the GameFi ecosystem in a short time.
After launching the SPS token in 2021, Splinterlands has expanded its blockchain offering. It recently cemented its position as one of the best GameFi projects in Web3, surpassing the major milestone of 2 billion total plays.
As a relatively new token and a highly successful blockchain gaming project, Splinterlands has significant upside potential. The current price is just $0.03, which could be a great entry point for anyone looking to buy a great GameFi project in its early stages.
AltSignals, while not strictly a GameFi company, remains one of the hottest investments on the market right now. The project incorporates cryptocurrency earning similarly to other GameFi platforms, but the core utility of AltSignals is unique.
Primarily, AltSignals is an online trading community that shares profitable buy or sell signals with its members. The platform released an algorithmic trading indicator called AltAlgo™, which has consistently had a 90% success rate. Now, the ASI token is designed to bring more benefits to the community and supercharge a new AI-powered trading toolkit.
ActualizeAI is powered by artificial intelligence to deliver highly accurate trading signals. The toolkit is currently under development and is specially designed to improve upon AltAlgo™’s already-successful hit rate.
The new AI offering from AltSignals combines machine learning algorithms with natural language processing (NLP). This allows ActualizeAI to analyze vast and complex datasets instantly before providing an accurate buy or sell signal for crypto traders.
The ASI token grants all holders access to ActualizeAI and AI Members Club. AI Members Club provides even more benefits to holders, including governance rights, beta testing privileges, and the chance to earn digital assets through participating in various features.
For now, ASI is a brand-new release. Since the token is one of those at the forefront of the AI revolution in blockchain, it could become extremely valuable over time. The ASI token presale is the perfect opportunity to get involved, as the token is unlikely to revisit these low price levels again.
>>> You can participate in the AltSignals presale here <<<
The best GameFi projects are revolutionizing traditional gaming through expansive virtual worlds, ownable in-game assets, and integrated financial rewards. These additional user benefits are expected to generate even more demand over time, which makes GameFi cryptocurrencies a prime investment opportunity.
One of the most exciting projects in the space right now is Metacade. The project recently launched, attracting significant attention thanks to its unique blockchain offering.
Metacade could support many users over time by combining traditional gaming elements with blockchain-based features. It is the largest collection of P2E arcade games on the blockchain, with every title offering players automatic financial rewards.
GameFi is a broad term used to describe all blockchain projects that combine gaming with finance. Tokenization, and the blockchain’s distributed ledger, allow for automatic financial rewards while completing tasks and progressing through game levels, thanks to the versatility of smart contracts.
GameFi is widely considered a revolutionary new development for the wider gaming industry. Combining immersive metaverse worlds and integrated financial rewards could become a mainstay, leading to a constantly increasing total value.
Many GameFi platforms allow users to stake tokens directly on-site. This lets players generate passive income as a reward for providing liquidity and helping to secure the platform.
Many game finance platforms are free to play, so introducing in-game NFTs helps generate liquidity. However, projects can earn revenue in many ways, including direct investment in the native token.
Since GameFi is predicated on earning while playing, projects must be careful to generate more revenue than they pay in cryptocurrency rewards. This helps ensure that GameFi projects are financially sustainable. As a result, multiple liquidity streams often exist for the best GameFi projects.
The term ‘Metaverse’ typically refers to virtual reality worlds integrated with blockchain technology. Users are immersed deeper than ever by bringing massively multiplayer open-world role-playing games (MMORPGs) into virtual reality. Blockchain’s ability to provide in game collectibles and real financial value in these games makes them extremely attractive to gamers.
You can participate in the Metacade final stage presale here.
You can participate in the AltSignals presale here.
Promin Aerospace is a Ukrainian rocketry startup with backing from Google among others. The company is working with the Meta History Museum to launch into space a collection of artworks about the war with Russia in the form of NFTs (non-fungible tokens). The team recently joined the Bitcoin.com News Podcast to talk about the historical initiative, the ground breaking technology behind it and even what would it take to store the entire bitcoin blockchain in space.
Promin Aerospace is the world’s primary developer and manufacturer of advanced autophagic rocket propulsion. They’re bringing an entirely new type of rocket propulsion system to the market that will make it possible to create rockets that are at least 2 times more efficient than the current state-of-the-art. The company has received $6.5M of pre-orders for future products and services and has a team of 11 continuously working in their R&D facilities in Dnipro, Ukraine to upgrade the core technology.
Misha Rudominski, Co-founder & CEO at Promin Aerospace. Previously he with a team won an all-Canadian team competition by Space & Satellite Professionals International to create a communication system between Mars and Earth.
Lisa Bordun, Head of Legal at Promin. Law geek with specialization in space, MBA with two degrees in law (Ukraine, USA).
The Meta History NFT museum was created to commemorate the history of the current events in Ukraine, preserve the truth, and collect donations for humanitarian aid. Follow the latest developments from the charity NFT platform on Twitter.
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Bitcoin custodian and licensed private bank Xapo Bank has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to SWIFT. Payment rails refer to the infrastructure and technology used to facilitate the movement of funds between parties in a financial transaction. Payment rails come in many forms, including traditional bank wires, credit card networks, and blockchain-based platforms.
We are pleased to be the first bank in the world to fully integrate with USDC, enabling our members to send and receive USDC from their US Dollar accounts, no fees charged.
More: https://t.co/ep3wx0vLLn#XapoPrivateBank pic.twitter.com/Obed371oiT
— Xapo Private Bank (@xapoprivatebank) March 20, 2023
Xapo Bank says that the new feature allows its members to bypass the cumbersome and expensive SWIFT payment system through “outrails” added to its existing USDC on-ramps. By utilizing the USDC stablecoin, members can deposit and withdraw funds from Xapo without fees and benefit from a one-to-one conversion rate from USDC to the U.S. dollar. In addition, all USDC deposits are automatically converted to the dollar, enabling members to earn an annual interest rate return of up to 4.1%.
According to the announcement, Xapo Bank is a fully licensed and regulated bank and a member of the Gibraltar Deposit Guarantee Scheme (GDGS), which protects depositors’ dollar deposits up to $100,000. Additionally, Xapo Bank shared that it does not engage in the staking of any cryptocurrency deposits, and all deposits are automatically converted to the dollar upon receipt by the bank. Xapo claims this reduces exposure to any risks associated with the fluctuating crypto markets.
Xapo claims its business model differs from traditional banks as it does not engage in lending activities and does not rely on fractional reserve banking to generate profits. Instead, the private bank maintains all customer funds in reserve and invests them in “short-term, highly liquid assets” to pass on the earned interest to its customers.
Related: Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023
As previously reported by Cointelegraph, Moody’s Investors Service haswarned that USDC’s depeg could negatively impact the adoption of stablecoins and lead to increased regulatory scrutiny. The credit rating agency argued that the traditional banking sector’s recent turmoil and the depegging of USDC could increase resistance to fiat-backed stablecoins.
USDC’S depeg occurred following the sudden collapse of Silicon Valley Bank on March 10. The collapse of SVB was a significant risk event for USDC issuer Circle Internet Financial, which had $3.3 billion in assets tied up in the bank.
After dropping below the range for the majority of March, the total value locked (TVL) in decentralized finance (DeFi) has risen beyond $50 billion. Currently, the value of DeFi is roughly $50.34 billion, an increase of 1.97% over the previous day.
On Wednesday, the crypto market’s value increased by 1.2% to reach $1.24 trillion, and crypto assets gained in value. The total value locked (TVL) in DeFi on the same day was $50.34 billion.
Lido Finance is currently leading the top DeFi protocols with a TVL of $10.76 billion, which has grown by 10.60% over the last seven days and 24.61% over the past month. Among the top five DeFi protocols, only MakerDAO has seen a reduction in TVL by 1.29%. On the other hand, Aave, Curve, and Uniswap have seen increases, with Curve leading the pack with a 13.62% jump.
The surge in DeFi has largely been driven by the growth in market capitalization of smart contract platforms, which has risen by 3.6% in the last day to reach $357 billion. The top five tokens in this category have all experienced value growth in the past week, except for Polygon (MATIC), which has dropped by 3.9%.
In terms of the TVL distribution across blockchains, Ethereum holds the majority share of $50.34 billion, with over 59% and a total value of $29.71 billion. Tron follows with $5.35 billion, then BSC with $5.1 billion, Arbitrum with $2 billion, and Polygon with $1.07 billion.
The leading liquid staking protocol for Ethereum is Lido, while for Tron, it is Neopin Staking; for BSC, it is Ankr; for Arbitrum, it is Tenderize; and for Polygon, the top staking protocol is Thunderpokt.
Liquid staking protocols currently hold 7,843,929 ETH worth $14.29 billion on Ethereum, with Lido leading the way. Coinbase ($2.15B), Rocketpool ($805.53M), Frax ($224.22M), Stakewise ($158.34M), and Stakehound ($118.85M) follow behind. Among the top five bridges ranked by TVL are WBTC, Justcryptos, Multichain, Poly Network, and Portal.
Notwithstanding the recent Fed rate hike and the 3.4% decline in bitcoin (BTC), the TVL in DeFi has managed to maintain just above the $50 billion mark at $50.08 billion.
The term “smart money” refers to a relatively broad group of investors and traders who have an advantage in their trading activities, typically due to the fact that they have more funds.
It is said that those with greater capital have more resources and hence have more to lose. Because of this, other smaller investors are interested in how they utilize their funds.
Long Term Capital and its team of PhDs needed a $3.6 billion bailout in 1998 due to excessive leverage and poor trading performance. Ten years later, during the 2008 financial crisis, the sharpest people in the room once again required federal support to offset trading losses.
The recent collapses of FTX, Alameda Research, Three Arrows Capital, and others in crypto demonstrated that the smartest individuals in the room made fatal errors.
Despite this, is it still prudent to observe others’ activities? The response is affirmative. Although one should establish their fundamental beliefs, keeping track of the movement of capital can offer valuable insights. Following the “smart money,” or significant capital flows, is always advisable unless it involves blatant deception.
Even if poor results are possible with a strong thesis (maybe an unanticipated occurrence alters conditions), what counts is the extent to which individuals or organizations can influence markets merely by their presence.
Large financial flows, like a vast ocean vessel, frequently take other things with them, even if they are approaching an iceberg. Knowing the vessel’s heading beforehand will help you determine how close you want to get to disaster and how many life jackets to bring.
Many online tools can provide real-time insight into the movement of capital in crypto. These tools are an outstanding quality exclusive to blockchain-based assets. Several of the instruments differ based on the asset. One option for bitcoin (BTC) is “whale activity.” Whales are unique wallet addresses containing at least 1,000 coins.
While the exact number of 1,000 might seem arbitrary, the suggested minimum value of a Bitcoin portfolio of $28 million at present, and almost $70 million at its peak, provides sufficient guidance for larger investments.
The fall in the number of whales during the past two years is an important measure.
The number of whales has decreased by 22% from peaking at 2,157 in February 2021. Comparatively, the price of BTC decreased by 41% within the same timeframe.
It is also important to consider where whales send their coins. Are whales sending or receiving cryptocurrencies at exchanges? Historically, the former has indicated pessimism, whereas the latter typically denotes optimism. It is also important to consider where whales send their coins. Are whales sending or receiving cryptocurrencies at exchanges? Historically, the former has indicated pessimism, whereas the latter typically denotes optimism.
Recently, there has been an influx of coins to exchanges. Since October 2022, the net exchange volume for whales has been positive.
These two indicators indicate that larger investors have been prudent. Fewer whales exist, and those that remain have their coins ready for sale. They could be wrong, but it is worthwhile to understand what they are doing.
More information can be gathered via ether (ETH) and alternative crypto-specific tools. Platforms such as Nansen and Arkham Intelligence apply “smart money” labels to wallets based on capital and investing behavior and can provide real-time views of their activities.
As an illustration, in the past 30 days, it has been observed that three coins that have experienced notable increases in their smart money wallet holdings: liquid staked ether, Aave interest-bearing USDT, and Binance USD (BUSD).
When examining individual funds, the highest identified holding was UNI, an outlier among larger funds. Further filtering reveals that the fund acquired UNI more than a year ago, with minimal on-chain action since then. The price of UNI was $32 two years ago, compared to $6 today.
A fund holding an asset during a significant downturn could suggest a few things. Firstly, it may indicate that the fund has a strong long-term belief in the coin and its potential for growth. Secondly, it could reflect a desire to participate in governance activities related to the asset, such as voting on proposals for Uniswap in the case of UNI. Alternatively, the fund may cut its losses and exit its position if the asset’s value increases in the future.
While analyzing smart money moves can be time-consuming and complex, investors who put in the effort will improve their digital research skills and gain valuable insights into market trends and potential investment opportunities.