This Week in Signal Teams — Avalanche, Solana, Elrond, 0x

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

• Producer Price Inflation in Germany Hit 30.9% YoY
• Israel Adds Yuan to $206 Billion Reserves in ‘Philosophy’ Change
• Commerzbank Applies for Crypto Custody License
• Twitter and Stripe Roll Out USDC Payout Program for Creators
• Australian Regulators Advance Country’s Crypto Rules in Latest Guidance
• Morgan Stanley: Lightning Network is More Practical for Small Payments than Cards

Top FTX Signals This Week

• Avalanche Launches on SwissBorg’s Smart Yield Wallet
• Solana Playground Beta Goes Live
• Elrond Announces Integration with Binance
• 0x Chosen by Coinbase to Power New Social Marketplace for NFTs

Avalanche Launches on SwissBorg’s Smart Yield Wallet

“Non-U.S. users can now stake AVAX using SwissBorg’s Smart Yield wallet, which employs an oracle to scan for and take advantage of yield opportunities with a simple, user-friendly experience.”

Read More

— Kyle Dineen, Social Media Director

Summary

• SwissBorg, an app offering buying, staking, and analysis of various crypto assets, has added Avalanche’s native token (AVAX) for purchase and staking. Users who stake AVAX can earn 3.75% APR, with the option to further increase (“boost”) yields to as high as 7.5%.
• The app generates yield by employing an oracle to scan for and take advantage of investment opportunities. For transparency into the automated wallet’s performance, SwissBorg releases monthly reports.
• Avalanche also announced that Yeti Finance’s innovative DeFi protocol went live on Avalanche. Users can borrow against LP tokens, staked and base assets, and yield-bearing stablecoins–while continuing to earn farming rewards on deposited collateral.

Significance

This move makes AVAX available for investment to the 600k+ users of the SwissBorg app, giving them the opportunity to earn a competitive yield. Yeti Finance going live on Avalanche provides additional ways for AVAX investors to put their tokens to work earning yield.

Price at the time of FTX Signal: $79.50. View AVAX on FTX.

Solana Playground Beta Goes Live

“You can now develop on Solana from your browser. Say hello to the first browser IDE for Anchor.”

Read More

— Austin Federa, Head of Communications, Solana Labs

Summary

• It is now possible to quickly develop, deploy and test Solana Anchor programs from a web browser.
• It still in beta and in active development, but can be tested now: http://beta.solpg.io

Significance

Projects like this make it simpler and easier to develop on Solana. This increases the options and is likely to attract new developer talent to the ecosystem.

Price at the time of FTX Signal: $106. View SOL on FTX.

Elrond Announces Integration with Binance

“Binance Integrates Elrond Tokens. Utrust UTK Becomes The First ESDT Token Listed By The Leading Global Exchange.”

Read More

— Beniamin Mincu, Founder & CEO

Summary

• Binance has completed the integration of the Elrond Standard Digital Token (ESDT) standard.
• The vast user base of our Binance will be able to explore digital assets operating at an internet scale, and projects originating on Elrond Network will be able to tap into the biggest markets and the deepest liquidity.
• Utrust, the leading crypto payments provider that has recently joined the Elrond family, is the first to benefit from the integration. The UTK token sitting at the core of the Utrust payments infrastructure can now be deposited and withdrawn as an ESDT directly on the Elrond blockchain.

Significance

This integration is a massive step forward for the entire Elrond ecosystem. It will accelerate the fusion of Utrust payments technology with Elrond DeFi products, a major milestone towards creating our Merchant Yield product that will be the catalyst for making Web3 payments truly mainstream.

Price at the time of FTX Signal: $162. View EGLD on FTX.

0x Chosen by Coinbase to Power New Social Marketplace for NFTs

“We’re proud to partner with Coinbase to power their new social marketplace for NFTs! By using 0x Protocol, Coinbase provides better ways to discover, buy, sell, and connect around NFTs at the lowest transaction costs for users.”

Read More

— Brent Oshiro, Head of CX and Comms

Summary

• Coinbase announced the launch of their much anticipated social marketplace for NFTs powered by 0x.
• With powerful multi-chain NFT swap support and the most robust feature set of any NFT exchange protocol, 0x was the obvious choice to power the new marketplace.
• Additionally, with 0x Protocol v4 being up to 54% more gas efficient, Coinbase marketplace users will enjoy low trading costs.

Significance

0x anticipates this launch will unlock a massive wave of new users into the blockchain space. This could lead to more apps and marketplaces taking advantage of 0x Protocol’s robust NFT swap feature set and industry-leading gas efficiency in the coming future.

Price at the time of FTX Signal: $1.13. View ZRX on FTX.

Quotes of the Week:

“Fads don’t typically last 12 years.”

— Wells Fargo on Bitcoin

“Fed’s late response to inflation will push Bitcoin & crypto higher.”

— Allianz Chief Economic Advisor

“I’m fine with making Bitcoin legal tender in USA.”

— Senator Ted Cruz

Chart of the Week:

The amount of Bitcoin held on exchanges continues to drop, decreasing the available supply and increasing the illiquid supply. This suggests that more and more investors are becoming long-term hodlers.

Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.

Jason Hamlin

Ecosystem Insights @ FTX

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