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DWF Weekly: Crypto Snapshot

DWF Weekly: Crypto Snapshot
Brought to you by DWF Labs, the global digital asset market maker and multi-stage web3 investment firm.

Ethereum Prices Rise Significantly After Shapella Upgrade

While some traders speculated that the price of Ethereum would dip after the Shapella upgrade, it seems that ETH prices saw a strong rally instead. The price point went past the $2,000 mark, and it hit a 11-month high of $2,141 with an increase of 77%. The price of Ether currently stands at $2,088 at the point of writing.

More Than Half Of Existing Bitcoins Have Not Been Moved From Passive Wallets

Blockchain data firm Glassnode observed that around 53% of all current bitcoins in existence have not been moved in more than two years, with the total amount translating to $309 billion worth of bitcoins. Diamond hands aside, the dormancy could be attributed to whales staying put as the price of Bitcoin continues to rise in the current market.

Crypto Could See More Institutions Investing In Ethereum After The Shapella Upgrade

The Shapella upgrade recently wrapped up with great success, and this could bring more institutional investors into the Ethereum fold. Firms with a portfolio of said clients foresaw that large professional investors were not keen to lock up funds without a clear withdrawal option during the Ethereum staking period, and the flexibility to deposit ether into liquid staking deposits could bring more institutional interest to Ethereum staking opportunities.

Passion for NFTs A Key Reason For Most NFT Purchases, Says CoinGecko Report

A recent report by cryptocurrency data aggregator CoinGecko found that users rank their enthusiasm for non-fungible tokens (NFTs) and the underlying technology as the reason for wanting to hold or buy the digital asset. Their survey showed that 71.1% rated enthusiasm for NFT technology as a key reason for purchasing NFTs, while 67.9% ranked their enthusiasm for the business model behind it as an important factor in doing so.

DWF Labs Managing Partner Clarifies Confusion Around Token Holdings And Investments

DWF Labs' swift portfolio expansion and investment has drawn questions from other Web3 venture capital players in the same space about their market strategy. To clear the air of any confusion or detrimental speculation, DWF Labs Managing Partner Andrei Grachev spoke to CoinDesk while also taking to Twitter to explain that the team only seeks to provide the support needed for their portfolio projects. At the same time, the company’s strategy continues to emphasize five main sectors - TradFi, DeFi, GameFi, centralized exchanges, and artificial intelligence - while seeking to partner with projects that have a vibrant community.

A Blockchain Gaming Console Seems Likely With DWF Labs Latest Partnership With SinVerse Studios

DWF Labs recently ranked as head honcho in the metaverse of SinVerse Studios with its latest partnership and investment with the latter. The team established itself as a key GameFi project with its massive community plus successful NFT land sale, and the partnership will see DWF Labs providing support to accelerate the company’s ambitious plans which includes developing the first-ever Web3 gaming console for GameFi projects.

DWF Labs Establishes A Milestone Partnership With Its Latest Investment Into The EOS Network

In what is perhaps the most important milestone to date, DWF Labs has announced an alliance with the EOS Network Foundation (ENF) worth $60 million. The EOS network is well-known as an open-source Layer-1 blockchain that prioritizes usability and the development of decentralized applications. The substantial funding will be split into a $45 million EOS token purchase agreement and a $15 million pledge to invest in businesses and projects that have been built upon the EOS network.

DWF Labs Supports The Growth Of DeFi With Its Latest Partnership With TrustSwap

DWF Labs has embarked on a partnership with TrustSwap to bring more attention to promising decentralized finance (DeFi) projects within the partner’s ecosystem and boost their growth. The launch platform serves to provide DeFi tools for token holders & businesses to invest in digital assets, and its launchpad services allow non-US participants to be a part of promising DeFi projects. DWF Labs brings its expertise in market making and building Web3 projects as part of the strategic partnership with TrustSwap.

40 New TON Projects Recognized By The TON Foundation

The Open Network (TON) Foundation awarded 40 different independent developers who helped build innovative projects on the TON blockchain in 2022. With a grand prize bag of 301,920 TON tokens, the prize rewards were rewarded based on the scale of the project. Some such as the Tonhub wallet, TON Contract Executor, and Tact, which is a next-generation language for the TON blockchain, received more than $10,000 worth of tokens to support the growth of their applications.

Holding TON Assets Just Became Easier With Tonkeeper’s Latest Upgrade

Non-custodial cryptocurrency wallet Tonkeeper, which supports assets from The Open Network (TON), received its latest upgrade from the development team behind it. The 3.0 version of the wallet now displays fungible and non-fungible assets into a single list, decentralized app (dApp) transactions and interaction history can be viewed easily, and users can interact with the TON price chart on the wallet for more information.

TON Launches Its First Bridge For Ethereum-Based Assets

The Open Network (TON) recently unveiled its first unlimited bridge for Ethereum tokens with the ERC-20 standard. Both TON and Ethereum users can now transfer assets between both networks easily, and this will significantly expand the amount of liquidity available for decentralized finance protocols and services on TON.

DWF Labs Tunes Into Decentralized Music With Its Latest Investment Into The LABEL Foundation

DWF Labs is spinning up the beats as it grooves to the tune of a $1 million committed with the LABEL Foundation. An Ethereum-based NFT infrastructure that acts as a peer-to-peer incubator, the foundation aims to let token holders invest in world-class entertainment through the platform’s DAO voting system. The investment will help further the development of the project’s Listen-and-Earn TRACKS decentralized app to create a fairer and accessible music space.

Disclaimer: This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.

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