Crypto VC exits have been low in This fall 2023, Phantom MAU’s attain new highs and spot bitcoin ETF volumes are nonetheless rising

Welcome to TechCrunch Crypto, previously referred to as Chain Response.

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Good day and welcome again to the brand new and improved TechCrunch Crypto e-newsletter. That is our fifth version with, in fact, usually scheduled information bits, but in addition some recurring segments and options — so in case you like what you see (or don’t), let me know at jacquelyn@techcrunch.com.

This week roses have been crimson, violets have been blue, the crypto market was inexperienced — for all of you. Should you comply with me on X, you may need already seen me publish this, however in case you don’t, I’m sharing the love right here, too.

In any case, let’s get into it. Right here’s what you missed this week: Spot bitcoin ETFs within the U.S. turned one month previous, Phantom crypto pockets reached new heights for month-to-month lively customers final month and crypto VC exits have been comfortable in This fall 2023. Extra under.

Scheduling word: I’ll be OOO subsequent week, so there received’t be a e-newsletter.

This week in web3

  1. Crypto exits stay low however buyers stay unfazed
  2. Solana-based DeFi, airdrops propel crypto pockets Phantom’s person base to new heights
  3. This gaming startup tries to indicate ‘AI + crypto’ just isn’t a fad
  4. As spot bitcoin ETF volumes proceed to rise, Bitwise Asset Administration predicts a excessive ceiling for development

Crunching numbers

This week the crypto market was trying fairly bullish as the 2 largest cryptocurrencies by market capitalization, bitcoin and ether, each rose about 16.5% on the week, in response to CoinMarketCap information. The whole crypto market cap elevated 14% over a seven-day interval to $1.96 trillion.

Earlier this week, Solana additionally briefly took over because the fourth largest cryptocurrency by market capitalization, surpassing the BNB token, which has since regained the place. Solana’s market cap is about $3 billion behind BNB and its value is up virtually 11% on the week.

Our favourite ‘Crypto Twitter’ publish

Calling all builders who didn’t have dates on Valentine’s Day and tweet about zero-knowledge roll upsthis one is, sadly, for you. For these of you who did have plans, it may be time to combat again.

The newest pod

Chain Response is doing a month-to-month collection diving into completely different subjects and themes in crypto. This month we’re specializing in NFTs.

For this week’s episode, I interviewed Yat Siu, co-founder and govt chairman of Animoca Manufacturers.

Yat co-founded Animoca in 2014 and since then it has invested in additional than 400 web3 tasks throughout a variety of sectors like DeFi, training, infrastructure, blockchain gaming and the metaverse.

Animoca additionally has its personal NFT collections, blockchain merchandise and video games, like its web3 NFT-based neighborhood Mocaverse, the blockchain sport and NFT assortment REVV Racing and The Sandbox, a decentralized digital world with over 40 million cell installs. The corporate has additionally labored with different well-known manufacturers and personalities, like Disney, WWE, Energy Rangers, The Strolling Lifeless, Method E and Snoop Dogg.

Yat and I focus on the significance of digital property rights, rising NFT communities and what makes a mission stand out from others.

We additionally dive into:

  • Evolution of NFT’s IP
  • Constructing model familiarity
  • Asia embracing web3 and NFTs
  • The worldwide race for adoption

Subscribe to Chain Response on Apple Podcasts, Spotify or your favourite pod platform to maintain up with the newest episodes, and please go away us a overview in case you like what you hear!

Comply with the cash

  1. Buying and selling-focused Architect raised $12 million spherical led by BlockTower and Tioga Capital
  2. Fordefi raised $10 million to launch wallet-as-a-service in spherical led by Electrical Capital
  3. Anzen raised $4 million to supply entry to yields backed by real-world property
  4. Mercure DAO raised $1.5 million for its web3 incubator
  5. Analog raised $16 million in seed spherical to construct cross-chain infrastructure

This listing was compiled with data from Messari in addition to TechCrunch’s personal reporting.

What else we’re writing

Need to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.

  1. Bluesky and Mastodon customers are having a combat that would form the following technology of social media
  2. Foundry Group is shutting down and received’t increase one other fund
  3. ChatGPT will now keep in mind — and overlook — stuff you inform it to
  4. Hackers uncover new TheTruthSpy stalkerware victims: Is your Android gadget compromised?
  5. Should you’re going to market, your GTM slide must be superior

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