MARKET

11/3 Summary: Aggregating October's gains, Dapper lays off 20%, Arbitrum trading volume surges, is an airdrop coming?

share
11/3 Summary: Aggregating October

The daily digest compiles less-covered news, foreign articles, expert opinions, funding updates, and notable data changes in the crypto space to save readers valuable time. This article summarizes information up to 13:00 on 11/3.

Market Data

October Data Review

The Block's Research Director Lars0X summarized October data, with interesting points including:

  • GBTC daily trading volume grew by 17.3%.

  • Binance holds a market share of 71.8%, Coinbase 8.6%, FTX 6.7%.

  • Since the implementation of EIP-1559 in August 2021, a total of 2.7 million ETH has been burned, equivalent to $86.6 billion.

October Token Gains

From CryptoRank data:

Arbitrum On-Chain Activity Surges

Delphi Digital pointed out that this week, Arbitrum on-chain trading volume accounts for 62% of Ethereum's, and weekly trading volume has increased by 550% since August.

Meta Adopts Storage Protocol Arweave, AR Surges 70% in a Day

Meta announced today that it will soon allow creators to showcase their digital artwork, NFTs, on Instagram. Users can directly purchase these works on Instagram to support their favorite creators. Additionally, Meta has integrated with the storage protocol Arweave to enable NFTs to be stored on Arweave.

AR/USDT | 15-Minute Chart

Crypto Current Affairs

Over a Thousand Solana Validators Forced Offline

Austin Federa, Communications Lead at the Solana Foundation, stated that cloud service provider Hetzner has banned providing services related to crypto.

This has led to over a thousand validators going offline, with the mainnet also owing approximately 22% of block rewards. Austin Federa urges affected users to migrate.

Data shows that the Solana network has not been interrupted.

Dapper Labs Announces 22% Workforce Reduction

NFT blockchain developer Dapper Labs cited macroeconomic reasons for a 22% workforce reduction. CEO Roham Gharegozlou mentioned that the company's rapid growth from 100 to over 600 employees within two years necessitated a reorganization to better serve the community.

Coinbase Chief Product Officer to Step Down

Chief Product Officer Surojit Chatterjee, who joined in February 2020, will transition to an advisory role on January 30, 2023, and officially leave on February 3, 2023.

UnionBank of the Philippines Launches Crypto Services

UnionBank of the Philippines partners with Swiss crypto firm Metaco to launch cryptocurrency exchange services on Metaco's flagship platform, Harmonize.

Users can trade and custody BTC, ETH.

Stepn to Launch NFT Trading Platform

Stepn's parent company, Find Satoshi Lab, will launch the multi-chain NFT marketplace "MOOAR," initially supporting Solana and Ethereum.

Long Reads, Celebrity Perspectives

Lars0X｜October Data Compilation

Messari｜State of BNB Chain Q3 Overview

Messari｜State of Polygon Q3 Overview