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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.

Market Rebound Rewards VCs Who Continued To Invest During The Recent Bear Run

It is springtime for crypto VC fundraising as the total amount raised for VC fundraising has rebounded to pre-bear market levels. Data from the cryptocurrency market insight and analytics platform CryptoRank showed that the total funding value in March shot up to US$6.88 billion which is 7.5 times more than the amount garnered in Feb 2023, and close to the US$7.1 billion raised in April 2022 before the LUNA collapse. DWF Labs is one of the VCs who continued to support Web3 projects throughout the bear market, and the rebound has opened up more opportunities to partner with new startups in the space.

High Market Greed Index Has Analysts Optimistic On Bitcoin’s Price Predictions

The recent bank collapses and the influx of liquidity by the US Federal Reserves have buoyed the mood of the crypto market, with the Crypto Fear and Greed Index nearing the bullish levels seen in 2021 when Bitcoin hit US$69,000. Using current charts as their basis, market analysts have been using technical indicators to predict the next support level with some aiming as high as US$100,000 for the next all-time high.

Institutions Clamour To Cater Large Financial Clients With Crypto Investment Products

Finance providers and companies are readying themselves to cater to the needs of large financial institutions with structured crypto investment products targeted at these audiences. The Deutsche Börse-backed Crypto Finance AG recently teamed up with finance provider Apex Group to offer structured investments to banks and family offices. At the same time, MetaMask Institutional has also launched a new staking marketplace for its institutional clients to stake Ethereum solo via partnered vendors, and this effectively allows institutions to become Ethereum network validators.

European DeFi Startups Gather Steam With Increased Investments, According To State Of European Crypto Funding Report

Crypto Venture Capital firm RockawayX released the ‘State Of European Crypto Funding Report’ along with data provider DealRoom, which highlights investments made into European crypto startups. While over US$5.7 billion have been raised by startups in the region, more than half of these investments are focused on financial products and services. As a whole, investments in European startups increased by 120% in 2022.

Ethereum Community Turns Away From OFAC Censorship In Block Validation

Despite most of the validated blocks being OFAC-compliant since The Merge, most blocks on the Ethereum network are now turning away from the censorship compliance. OFAC, or the Office of Foreign Asset Control in the US, sanctioned Tornado Cash transactions and pushed for Ethereum blocks to exclude such transactions. While most censored blocks use the Flashbot maximal extractible value (MEV)-boost relay, a move to non-censoring relays have seen the number of censored blocks dip in the last few months.

TON DApp Catalog Receives Facelift To Better Cater To The Community

The Open Network decentralized applications catalog, also known as the TON dApp catalog, has received a website revamp which makes it easier to navigate the TON ecosystem and add new projects. The redesign includes more user-friendly search functions, displaying more popular dApps prominently, and making it more convenient for protocol developers to add their intended services to the catalog.

Sending Stablecoins Is Now As Easy As Sending Text Messages On TON

Telegram users can now easily send USDT stablecoins to each other on the platform, thanks to the latest added feature of the wallet bot on the platform. The Open Network (TON) supports the sending and receiving of stablecoins through the platform-enabled wallet, and users can now purchase BTC and TON tokens more easily with the added functionality.

DWF Labs Invest In The Alt-Net With A US$40 Million Funding With Tomi

DWF Labs recently raised US$40 million for the decentralized autonomous organization (DAO) tomi, and the project aims to build an alternative internet which enables access to uncensored information. The community-governed DAO leads main activities such as voting proposals and code management, and the funding secured will be used to bring in more content creators to drive network utility.

DWF-Backed Conflux Network Partners With Dmail Network For Web3 Email

Conflux Network, a permissionless Layer-1 blockchain that is backed by DWF Labs and connects decentralized economies with its Tree-Graph structure, has partnered with Dmail network to unlock Web3 cross-chain encrypted emails for its community. Dmail network will provide enterprise services such as decentralized identity (DID) launchpads, user management, and loyalty management.

DWF Labs Close US$10 Million Funding Round With Radix Network

DWF Labs recently wrapped up a funding round of US$10 million with the public decentralized ledger Radix Network. The decentralized finance (DeFi)-focused network aims to prevent hacks within the DeFi space, and its latest launch of the Babylon mainnet will bring smart contract capability to the Radix network for the first time. Radix currently has more than 50 projects building on it, and they range from DeFi to NFT endeavors that seek to expand the Radix ecosystem.

TON-Based Accelerator Leads Successful Funding For TON DeFi Project Megaton Finance

TONCoin.Fund, an incubator launchpad that helps promising startups build and scale on The Open Network (TON) ecosystem, managed to lead a successful seed round of US$1.5 million for Megaton Finance. The automated market maker decentralized exchange (AMM DEX) is the first DEX within the TON DeFi ecosystem, and it has a total of US$22 million in total value locked within the network.

Conflux Network Partners With Chinese Construction Equipment Manufacturer XMCG On Blockchain Opportunities

DWF-backed Conflux Network has partnered with XMCG, a Chinese multinational heavy machinery manufacturing company, to explore new use cases for blockchain and the Web3 space in conjunction with Singapore-based fintech company Zen Spark Technology. The three-way partnership will tap on their combined expertise of distributed ledger and blockchain knowledge to test new solutions for the global market.

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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