Market Analysis Report (29 Jul 2021)

Interest in Ethereum has been growing exponentially over the last few months, partly because of the growth of the decentralized finance (DeFi) space within the cryptocurrency’s blockchain. Its trading volume surged 1,461% in H1 2021, while Bitcoin’s moved up 489%.

Cryptocurrency custodian Anchorage Digital has been hired by the U.S. Marshals Service, one of the primary law enforcement agencies of the Department of Justice,to custody seized or forfeited cryptoassets.

The series of animated shorts sold in the form of non-fungible tokens (NFTs) developed by Mila Kunis’ Orchard Farm Productions, Stoner Cats, has sold out and led to the loss of 344.6 ETH ($790,000) in failed transactions.

Sponsored: Another exciting quarter has come and gone and despite the turmoil experienced in crypto markets after mid-May, the Invictus Capital suite of funds has continued to offer investors exceptional returns, with the Hyperion VC (IHF), Margin Lending (IML) and Crypto10 Hedged (C10) Funds all shooting the lights out.

Top stories in the Crypto Roundup today:

• Ethereum Trading Volume Grew Exponentially Year-to-Date
• Anchorage to Custody Cryptocurrencies Seized by U.S. Marshals
• Mila Kunis’ NFT Token Sale Cost Users $790,000 in Failed Transactions
• Daily Movers – LUNA, RUNE, ENJ
• Sponsored: Invictus Capital Q2 2021 Investment Report

Ethereum Trading Volume Grew Exponentially Year-to-Date

Interest in Ethereum has been growing exponentially over the last few months, partly because of the growth of the decentralized finance (DeFi) space within the cryptocurrency’s blockchain. Its trading volume surged 1,461% in H1 2021, while Bitcoin’s moved up 489%.

Coinbase’s H1 in review report shows that in the first half of the year, $1.4 trillion worth of ETH were traded on exchanges, up from $92 billion in the same period last year. Ethereum’s value skyrocketed earlier this year, with the report’s author writing:

“The second most valuable crypto asset appreciated 895% over the 12-month period and 210% over the 6-month period ending June 30.”

The cryptocurrency’s rise comes down to increased usage of DeFi protocols, the report notes, adding that this “validates the network’s value as a global financial utility and platform for developers.”

Anchorage to Custody Cryptocurrencies Seized by U.S. Marshals

Cryptocurrency custodian Anchorage Digital has been hired by the U.S. Marshals Service, one of the primary law enforcement agencies of the Department of Justice,to custody seized or forfeited cryptoassets.

The Marshals Service has reportedly spent more than a year seeking a custodian and financial services provider for its cryptocurrencies. Its contract had been previously awarded to crypto custodian BitGo, which was earlier this year acquired by Galaxy Digital.

Anchorage will provide custody and liquidation services that could include accounting, customer management, blockchain fork management, and transforming tokens into other coins. The U.S: Marshals Service has been auctioning bitcoin since at least 2014 after seizing it from the now-defunct Silk Road marketplace.

Since then, the agency has seized and sold over 185,000 BTC worth over $7.2 billion. Its most recent auction in 2020 was for 4,040 BTC.

Mila Kunis’ NFT Token Sale Cost Users $790,000 in Failed Transactions

The series of animated shorts sold in the form of non-fungible tokens (NFTs) developed by Mila Kunis’ Orchard Farm Productions, Stoner Cats, has sold out and led to the loss of 344.6 ETH ($790,000) in failed transactions.

A total of 10,420 Stoner Cats NFTs were put up for sale at 0.35 ETH each, and the whole supply was sold in about 35 minutes. As buyers scrambled to get their hands on NFTs, the Ethereum network struggled with the sudden load, leading to transaction fee rises.

As a result, users lost roughly 344.6 ETH in transaction fees paid for Stoner Cats NFTs that ended up failing.

Daily Movers – LUNA, RUNE, ENJ

Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Terra (LUNA) – Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure.

THORChain (RUNE) – THORChain is built for cross-chain permissionless digital asset liquidity. Stake assets in liquidity pools to earn fees, swap assets instantly at open market prices, borrow and lend on any asset, and pay in any currency.

Enjin (ENJ) – Enjin is a cryptocurrency (ERC-20 Token) and smart contract platform that gives game developers, content creators and gaming communities the required crypto-backed value and tools for implementing and managing virtual goods.

Invictus Capital Q2 2021 Investment Report

Another exciting quarter has come and gone and despite the turmoil experienced in crypto markets after mid-May, the Invictus Capital suite of funds has continued to offer investors exceptional returns, with the Hyperion VC (IHF), Margin Lending (IML) and Crypto10 Hedged (C10) Funds all shooting the lights out.

AUM is still ticking up, with an average of $145 million under management over June. Hyperion has continued to astound, and we are incredibly proud of the performance of the underlying portfolio that now firmly places the fund within the top tiers of global venture capital fund performance.

The company’s funds offered commendable performance in a quarter marked by heightened volatility and extreme fear in the Bitcoin and broader cryptoasset market. The simple average return across our suite of seven funds was 9.85% for the quarter, which is equivalent to an annualized return of 45.61%.

We invite you to read the full Q2 2021 investment report which includes comprehensive macroeconomic and crypto market analysis, fund-specific commentary and detailed company updates.

Disclaimer:

Cryptocurrency trading involves high risk, and is not suitable for all investors. Before deciding to trade cryptocurrencies, tokens or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite.

Its content does not constitute financial advice. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.

Press Release

State of the Crypto by Top Tier Exchange Volume

Build your project with the CryptoCompare API

Terms
| Privacy

162 Main Road, Danbury, Chelmsford

England, CM3 4DT

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.