SQRR

Check out the latest contribution from Tharanga Gamage to OurNetwork's ON-314 Real World Assets (#RWA) edition! Tharanga has supplemented the analysis with a brand new Dune #datadashboard. This publication contains a sector update on RWAs, including projects like BUIDL, Tether.io Gold (#XAUt), Franklin Templeton's #tokenizedtreasuries, Maple Finance, and Superstate. Explore the latest insights and data on the evolving world of real-world assets in crypto. Links in the comments below.

Hi all, hope you are all having a great weekend. Just wanted to post that our very own Wizard Tharanga Gamage contributed to OurNetwork's ON-307: Derivatives edition released earlier today. Please check out the publication in the link below and it covers Hyperliquid, dYdX, Drift, GMX, and Orderly Network contributed by a great lineup of researchers. What's more, the analysis is supplemented with a new Dune #DataDashboard which you can find in the link. We invite you to check them out. Thank you. Hope you find them interesting.

? Get Used to...! ?? .......................................... ?? Despite the anticipated Federal Reserve rate cut being implemented, the markets reacted negatively to the Fed's stance. This led to a significant decline in various markets, including crypto assets, which experienced sharp losses. U.S. spot ETH ETFs also suffered, as seen across all metrics. ?? ETH ETFs experienced a reversal after an 18-day streak of net inflows, recording net outflows of $136 million over the last two days of the week. Despite this recent downturn, there were still ~$62.72 million in net inflows for the week overall. Since their launch, total net inflows have now reached approximately ~$2.33 billion. ?? The total assets under management (AUM) decreased by 11% to approximately $12.24 billion compared to the previous week. Earlier in the week, AUM reached an all-time high of ~$14.24 billion. ?? ETF trading volume reached a weekly high of ~$4.52 billion last week. On December 19th, the turnover exceeded ~$1.22 billion, marking the highest daily turnover recorded since inception. Thank you. ~nfa~

Merry Christmas to You and Your Loved Ones.

?? Stamps Protocol Update Report [December Release] ?? ? The total transaction count related to the Stamps Protocol surpassed 800,000 in November 2024. The predominant transaction type continues to be SRC-20. Notably, the SRC-101 was launched in the middle of the month. ? While there is a significant focus on a smaller number of SRC-20 token deployments for 'TRANSFER' operations, the increased interest in 'TRANSFER' activities is a positive development. However, it is essential to explore what is actually happening and what factors are driving this activity, as these are questions that warrant deep research. ? Regarding Stamps minting, the recent upgrade to Counterparty and the subsequent technical challenges may have contributed to the decrease in minting activity. It is also unclear whether the recent Bitcoin price action has affected this activity. Full Report in the link below. Thank you.

Time to share some charts on how the OP_RETURN operator was used in 2024. As you may know, the #OPRETURN operator is a feature of the Bitcoin blockchain that allows users to embed small amounts of data directly into the blockchain. 2024 saw the highest ever usage of the OP_RETURN opcode, with over 82.4 million transactions utilizing it. OP_RETURN transactions accounted for a significant percentage of all transactions in 2024. However, by the end of the year, there was a notable drop in OP_RETURN usage. The main contributor to this increase in OP_RETURN usage was the Runes Protocol, which introduced a fungible token standard as an Inscriptions spec. This drove a significant rise in OP_RETURN transactions, though the long-term trends for this feature remain to be seen. Other usages, such as OLGA-Stamps, were insignificant in comparison. Interestingly, by 2022 and 2023, some in the Bitcoin community would have predicted that OP_RETURN would no longer be used by 2024 and beyond. But, here we are! We hope the #chartvisualizations and #analysis have helped you grasp the significance of this trend. If you need any additional #data or #analytics, please don't hesitate to reach out - we're happy to assist further. Thanks for following along!

#SQRR Weekly #VizPack - US Spot ETH ETFs [week ending 13 December 2024] ??Gaining Momentum!?? ----------------------------- ?? ETH ETFs have maintained their recent positive trend for a third consecutive week. The basis trade has become increasingly attractive, offering double-digit yields, and this has driven ETH futures open interest to an all-time high of over $4 billion. ?? As of the week ending December 13, 2024, ETH ETFs experienced their third consecutive week of net inflows. In the week, the total net inflows reached approximately ~$855 million. There were net inflows for 15 days in a row, recording ~$2.25 billion in net inflows. Overall, total net inflows since launch have now reached ~$2.26 billion. ETHA has contributed ~$3.21 billion in total net inflows, while FETH registered total net inflows of ~$1.38 billion since inception. ?? The total assets under management (AUM) reached ~$13.77 billion. This is ~2.85% of the total ETH market cap. ?? ETF trading volume remains in the $3 billion range, with last week's total turnover being ~$3.22 billion, as compared to ~$3.95 billion the prior week. The total aggregate trading volume has reached ~$35.13 billion. Thank you. ~nfa~

?? PayPal's PYUSD Stablecoin Sees Supply Fluctuations ?? ---------------------------------------------------------------- As we recently reported, the total supply of the USDe stablecoin has surpassed 5 billion tokens, showcasing significant growth. However, the story is a bit different for PayPal's stablecoin project, #PYUSD. While PYUSD reached the 1 billion token supply milestone by the end of August, it was unable to maintain that level. Since then, the total supply has gradually declined and currently sits just below 500 million tokens. Interestingly, the PYUSD supply on the Ethereum network has remained relatively stable, while the supply on Solana has dropped rapidly. We've been closely monitoring the PYUSD project from the beginning using our on-chain analysis dashboard. Check out the latest updates by following the link in the comments below. Thank you. ~nfa~

?? Ethena USDe Reaches New Milestone ?? ------------------------------------------------- It's been an exciting week with key milestones achieved for many crypto assets. If you've been following the space, you may have noticed that Ethena Labs's USDe synthetic dollar token has reached another all-time high, surpassing a total supply of 5 billion USDe. The current total supply of USDe now stands at 5.19 billion. This milestone was supported by a large mint of over 322 million USDe yesterday, the largest daily USDe mint since the launch of the protocol. While the Ethena protocol has evolved significantly since its inception, we have been closely tracking its key metrics in our Dune #analytics #dashboard. We've also written a detailed #research report about the protocol and its core building blocks. You can find those analysis pieces linked in the comments below. Thank you. ~nfa~

SQRR Releases Stamps Protocol October 2024 Update Report The team at #SQRR has just published our latest report on the Stamps Protocol and its ongoing progress. This October 2024 Update provides an in-depth look at the key milestones and developments we've observed over the past month. Some concluding remarks from the report are reproduced below: "The recent rally in the crypto assets market has sparked a surge of interest in memecoins. Many communities have seized this opportunity, bringing several memecoins into the spotlight. While we are not taking a stance on whether memecoins are good or bad, we wonder if there was a missed opportunity to promote the SRC-20 standard during this current memecoin frenzy. Nevertheless, it did not gain traction. Whether this was a lost opportunity for raising awareness of SRC-20 or a blessing in disguise that ultimately benefits the Stamps community remains to be seen. Only time will tell!" If you're interested in learning more about the progress of the Stamps Protocol, I encourage you to read the full SQRR October 2024 Update report. You can find a link to the report in the comments below.