Chain Reaction - 9th January 2023
Another week off for many but we were busy catching up on reports. Outlook reports that is and there were many. We highlighted them here in this collection we collated https://medium.com/notcentralised/collection-of-2023-market-outlooks-and-year-in-reviews-for-2022-6817a3236784
And we also put out an article that reviews them on our NotCentralised blog - https://link.medium.com/MftJdLxqnwb
Also during the week, the podcast I recorded late last year with CryptoClarity came out. We go through what happened with DeFi and why decentralisation did not fail as well as many other topics - check it out here
We are also back on the Twitter Spaces rounds again, kicking off our first for 2023 later today at 515pm ADST. Check out the link and join us here:
And also, a reminder before we get to the news, if folks you know are interested in learning more about DeFi (or you’re just interested in brushing up on things) then check out our 8-part Getting Started series. It includes links of who to follow, what to watch, listen and read and a dive into some basic and advanced concepts. Check it out: https://www.defi.org.au/post/getting-started-in-defi-part-1.
News
Weak sentiment at Huobi seems to have set off a Tron USDD depegging (unsurprising since Justin Sun is involved in both) https://www.coindesk.com/markets/2023/01/06/tron-price-sinks-8-usdd-depegs-amid-drama-at-justin-sun-related-huobi-crypto-exchange/
Seeing more blockchain usage in the real world, this time with golf app “Play Today”. They are providing immutable records for golf scores and enticing users with NFTs and metaverse experiences. More here
A new report from Accenture (their global Consumer Payments report) shows that 1 in 5 own digital currency https://cointelegraph.com/news/consumers-are-crypto-curious-one-in-five-own-digital-currency-accenture
The report is available https://www.accenture.com/content/dam/accenture/final/industry/banking/document/Accenture-payments-gets-personal.pdf
Australia overtook El-Salvador to be the country with the 4th most crypto-ATMs https://cointelegraph.com/news/australia-overtakes-el-salvador-to-become-4th-largest-crypto-atm-hub
In a future world where users continue to move off centralised exchanges, this 3 key wallet might be the way we go https://www.coindesk.com/business/2023/01/06/block-manager-sees-self-custody-as-future-of-crypto-post-ftx/
Interesting take on NFTs as securities (and why that’s a good thing). Extrapolating this argument to Australia, it highlights why NFT projects should look to embrace regulation. https://www.coindesk.com/consensus-magazine/2022/12/28/nfts-are-securities-and-its-great/
The author also appeared on the Bankless podcast to discuss this further
For those into basketball (or sports in general), the NBL created their digital collectibles series (on the same blockchain as NBA Top Shots) - see more here
https://chainz.basketball.com.au/
And Microsoft here highlighting why you need a metaverse strategy.. or else https://thechainsaw.com/business/microsoft-metaverse-strategy-virtual-reality/
An update on Celsius here and there's an ironic potential need for defrauded account holders to see extra payments made to Celsius staff in order to see their own funds returned
We'll leave you with some charts from our favourite crowd sourced crypto data company, Dune Analytics. These show NFT volume that is often cited as dropping off a cliff, but also seeing that transactions haven't dipped as much. There's still very much a market out there for these products. Let's just hope it's one built on sustainability rather than speculation tied to nothing at all.