wen ATHs?

Week in Review:

• Another exciting week in crypto. While we have not had a proper alt-szn, the bullish vibes are in the air. This week, dog and memecoins took the spotlight. WIF, the SOL-based meme, touched $1 this week, representing an 8000x return in a few months. DOGE, SHIB, and PEPE also saw strong inflows, with PEPE testing its prior ATH.

• BTC tapped $64K, driven by demand for BTC ETFs. The Blackrock product IBIT is the big winner, which reached a new milestone of +$1B in daily trading volume. As a group, the BTC ETFs are breaking records:

• The short-term question is, are we overextended? We see signs of froth in both funding rates and the fear & greed index pushing to extreme greed levels.

• Blast, the L2 created by the BLUR team, was launched on the mainnet. The Layer-2 solution, which offers native yield, has ~$2.4B of ETH locked. Traders have already started speculating on which projects will stand out.

• Uniswap surged 60% due to a governance proposal introducing a fee switch. If approved, some of the protocol’s fee earnings would accrue to stakers. This announcement caused many DeFi 1.0 coins to pump (SNX, AAVE, etc.)

BLAST

Blast is hyped as the next playground for degens. But, many are unsure where to being and we already see many rugs. Here are some resources to get started and stay safe on Blast.

Here is a great video from Kali Crypto on how to get started and take advantage of the airdrops on Blast.

RPC information:

List of Blast projects:

Right now, there is a lot of trash and a high PvP market. But once the dust settles and the early builders start gaining momentum, this will be a chain to look out for. It has a lot of mindshare and memeability from proven builders in the space.

🤑 Notable Raises

• Backpack - $17M Series A. Sector: Wallet. Lead investor was Placeholder. Notable investors include #HASHED & Robot Ventures

• BounceBit - $6M Seed. Sector: BTC DeFi. Lead investors were Blockchain Capital & Breyer Capital. Notable investors include Dao5 & CMS.

• Initia - $7.5M Seed. Sector: Cosmos Infrastructure. Lead investors were Delphi & HackVC. Notable investors include Figment & BigBrain Holdings.

• Ready Games - $4M Seed. Sector: Gaming. Notable investors include Delphi and Merit Circle.

• Talus Network - $3M. Sector: AI. Lead investor was Polychain Capital. Notable investors include Dao5 & Hash3.

• Gemini: Recovered $1.8B in customer deposits. Return date is scheduled for May.

• Lens: SocialFi protocol is permissionless - ie waitlist has been removed.

• Parcl: Solana real estate project set to conduct an airdrop in April.

• Nigeria: Detain two Binance employees as its local currency, the naira, devalues

• Ethereum: Dencun upgrade expected to occur March 13th.

• Uniswap: Released their wallet extension

• Fidelity: Recommends a 1%-3% crypto portfolio allocation in its latest marketing materials to clients.

• Reddit: Incorporating “DAO-like” features in its IPO offering.

🫡 Chart of the Week

Hat stays on

See you next week,

Mid-Curve Team

The Mid-Curve newsletter is intended purely for educational and informational purposes and should not be construed as financial advice. We encourage all our readers to conduct their own research or seek advice from a certified financial advisor before making any investment decisions. Please note that members of the Mid-Curve team may hold positions in some of the investments discussed in our newsletter.