Welcome,
During another bearish week for crypto, the market showed its resilience and dropped by only 5%, proving that the domino effect has finally slowed down.
As we explore the most recent FUD, remember that for every “bad actor” that leaves the industry, another better one is more likely to take its place.
Let’s dive into this edition of Crypto Weekly.
The Binance USD (BUSD) coin has dropped to 11th place after losing another $2B from its market cap. At the time of writing, Bitcoin is trading at $22,373, sitting in a narrow range since the weekend, after losing around -5% in a flash, amid Silvergate Capital news.
A similar trend can be witnessed on Ethereum, currently at $1,564. Solana remains the top gainer since the start of the year among the top cryptocurrencies at a +108.96% ROI.
The Largest Crypto Bank — Silvergate Capital, Is In Trouble
Silvergate Capital’s stock fell by more than 50% after the crypto bank delayed filing its annual report, citing the need for additional time to complete specific audit procedures.
All leading cryptocurrencies experienced a price decline due to the announcement, which raised doubts about Silvergate’s ability to remain solvent.
Furthermore, Bybit CEX suspended USD payments via bank transfer because of the Silvergate Exchange Network (SEN) shutdown.
In Response: Kraken Announces It Is Planning To Launch Its Own U.S. Bank
Despite recent regulatory headwinds, Kraken is working to establish its own U.S. bank, according to Kraken’s chief legal officer, Marco Santori, speaking on The Scoop podcast.
According to Kraken Bank’s website, the bank will be headquartered in Wyoming and provide “a more seamless integration between crypto and the traditional financial system.”
Yuga Labs Launches Ordinal Inscription NFT Collection Twelvefold
The Bitcoin NFT narrative keeps growing. Yuga Labs, the group responsible for the wildly popular Bored Ape Yacht Club NFTs, has released a new collection of Bitcoin NFTs.
Riding the wave of the Ordinal inscription craze, the company introduced a limited edition collection of 300 generative works inscribed on Satoshis on the Bitcoin network. Twelvefold is a collection that examines the relationship between time, mathematics, and variability.
~> suggested read: 5 Things To Know About Bitcoin NFTs
Uniswap Wants to Launch Crypto Wallet App, but Apple Says Not So Fast
Uniswap Labs, the company behind the leading decentralized exchange (DEX) on Ethereum, intends to launch a mobile cryptocurrency wallet for iPhone users that is an entirely autonomous, open-source mobile app.
But Apple (AAPL) appears to have other plans. While all of their concerns were addressed, and all the questions were answered, according to a Uniswap Labs spokesperson, Apple has not yet approved the launch.
DeFi Exchange PancakeSwap to Deploy Version 3 on BNB Smart Chain in April
According to CoinDesk, PancakeSwap, a leading multichain decentralized exchange (DEX), will launch version 3 in the first week of April. V3 will only be accessible on BNB Smart Chain (BSC), which is renowned for its speedy and inexpensive transactions.
Also deployed on the Aptos and Ethereum networks is PancakeSwap. The upgrade includes enhanced liquidity provisioning, competitive trading fees, trading incentives, and yield-farming instruments.
Read our latest research articles in one click.
Things You Must Know About Bitcoin NFTs
What Are Crypto Asset Management DeFi Protocols?
Introduction To DeFi Yield Aggregators
In this weekly review, we’ve lowered the requirement for our pools to TVL>$30M.
Top Stablecoin Yield Pools
The pool with the highest 30-day average APY belongs to Solidly V2, and it’s USDC-USDT at 22.46%. The second most profitable-looking protocol currently is Gains Network’s DAI pool at 14.88% 30-day average APY, followed by Credix’s USDC pool at 13.60%.
Top Blue-Chip Coins Yield Pools
Uniswap dominates the TVL>$30M category regarding blue chips. The Arbitrum-hosted pool WETH-USDC (0.05%) is currently at a 30-day average APY of 60.00%. The other two pools from the list look quite lucrative as well, at 36.92% and 28.40% 30-day average APY.
Top ETH Liquid Staking Derivatives Pools
Finally, there is not much change in Ethereum LSDs; as we’ve stated before that they are relatively stable in terms of APYs. However, there is a rising concern that the SEC might go after decentralized liquid staking after they are done with the centralized ones.
Crypto has survived many disasters.
Currently, there is an “Operation Choke Point 2.0,” in which the US government uses the banking sector to organize a sophisticated, widespread crackdown against the crypto industry, according to several publishers.
The three most widespread themes among analysts at the moment are (1) the importance of Ripple winning its case (making a precedent for all future SEC crypto lawsuits), (2) the unveiling behind the recent Binance rumors (stablecoins related in particular) and (3) an update in Tether’s allegations (more than we can count throughout the years).
Are you following any of these cases in close?
Max Yampolsky,
CEO at One Click Crypto
ir@oneclick.fi
DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.
We regularly prepare insightful reports and case studies about crypto trading and the blockchain industry.
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