This Week in Signal Teams — Avalanche, IOTA, Decred
Every week we comb through hundreds of FTX Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro Crypto News This Week
- Fidelity Digital Assets launching ETH trading for institutions
- Ethereum launches testnet for Shanghai upgrade
- Financial services giant Plaid makes first foray into crypto
- $9 billion European bank N26 will launch Bitcoin trading
- India’s police to use Polygon in complaint portal to fight corruption
- South Carolina house sold for $175K as an NFT
- Kanye West wears Satoshi Nakamoto hat after JPM closes his accounts
- Mastercard helps banks offer crypto trading, compliance, and security
- EU warns crypto mining may be halted in energy emergency
- Israel kicks off live tests for its tokenized digital bonds
Top FTX Signals This Week
- Avalanche Launches Core Web
- IOTA Announces Resonate Finance Joins Touchpoint
- Decred Upgrades to DCRDEX v0.5
Avalanche Launches Core Web
“Core web, the all-in-one command center for a better Web3 experience, is now live!”
— Kyle Dineen, Social Media Director
Summary
- Ava Labs has released Core web, a free, all-in-one command center giving users a more intuitive and comprehensive way to view and use Web3 across the Avalanche network, Avalanche Subnets, and Ethereum.
- Core web is optimized for use with Core browser extension, a free, personal wallet (self-custodial).
- Together they are key components of the Core product suite that brings dApps, NFTs, Avalanche Bridge, Subnets, L2s, directly to Web3 users.
Significance
Core aims to abstract away the usual difficulties and pitfalls of user experience, enabling users to focus on what to do on-chain rather than how to do it. Improving usability helps to increase mainstream crypto adoption.
Price at the time of FTX Signal: $15.10. View AVAX on FTX.
IOTA Announces Resonate Finance Joins Touchpoint
“Welcome to Touchpoint: Resonate Finance! This Yield Futures Protocol unleashes the power of futures NFTs (FNFT) technology to the Shimmer Network, right at the start of an exploding DeFi sector.”
— Thabata Dias, Social Media Manager
Summary
- Resonate Finance, a Yield Futures Protocol, joins the Touchpoint Open Builders Program to introduce the power of financial NFTs (FNFT) technology to the Shimmer network.
- Resonate Finance wields a first-mover advantage in an early-stage and growth-promising ecosystem built on Shimmer, the L1 staging and validation network of the IOTA distributed ledger technology.
- Users of Resonate Finance get access to yield that’s paid out upfront while retaining the ability to sell their locked position at any point.
Significance
By using Resonate and FNFTs, positions can be locked under any conditions verifiable by an oracle with any timeframe — negating the previously experienced theta decay and prisoners dilemma. This launch will help grow the DeFi and NFT ecosystem on the IOTA chain.
Price at the time of FTX Signal: $0.24. View IOTA on FTX.
Decred Upgrades to DCRDEX v0.5
“Is here and it’s huge! DCRDEX v0.5 public release now includes more wallet options and trading pairs including Litecoin LTC. Decred Lightning Network node count and capacity are also on the rise…”
— jz, International Ops Lead
Summary
- DCRDEX v0.5 public release made permissionless self-custodial trading more accessible with numerous improvements, including more wallet options that don’t require full blockchain download.
- LTC trading pairs went live on dex.decred.org.
- Decred Lightning Network node count and capacity are on the rise, enabling instant and low-cost transactions.
Significance
Decred v0.5 makes trading more accessible, stable, and convenient. DCRDEX offers a non-custodial, privacy-respecting exchange for trustless trading, powered by atomic swaps.
Price at the time of FTX Signal: $25.68. View DCR on FTX.
Quote of the Week:
“When you specifically talk about crypto, it is going to be about discovery of products, whether it is physical or virtual inside, either the Metaverse or upfront, and then how people transact.”
— Walmart’s global chief technology officer Suresh Kumar
Chart of the Week:
The amount of Bitcoin flowing out of cryptocurrency exchanges picked up momentum on Oct. 18 with over 37,800 BTC exiting exchanges. This marks the biggest Bitcoin daily outflow in over four months.
Over the past 30 days, more than 121,000 BTC, (~$2.4 billion) have been withdrawn from exchanges. A spike in Bitcoin outflows from exchanges is typically seen as a bullish signal for the price, as investors move their crypto into long-term custody.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
FTX Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 1,000 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to FTX’s 6 million+ users. Learn more.
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