Fantom Thrives, Paraswap Slows, & Long-Term Holders Stack BTC

Fantom TVL Rises on ve(3,3) Catalyst

While the TVLs across crypto have stagnated due to market uncertainties, Fantom’s ecosystem has been vibrant. Fantom has gained $1.2B (+20%) in TVL over the past week.
This comes as Andre Cronje and Danielle Sesta, two prominent builders in the crypto space, have shown interest in developing the Fantom ecosystem.
Andre has been releasing articles about ve(3,3), a new protocol that will launch on Fantom. According to the writeup, Fantom’s top 20 TVL projects will be distributed locked ve(3,3) tokens. This caused Fantom ecosystem tokens to get bid up by investors in hopes of getting a larger share of the ve(3,3) pie.

Paraswap Activity Slows Post-Airdrop

Since Paraswap’s airdrop on November 15th, activity on the DEX aggregator has stagnated.
Before the airdrop, many people speculated and used Paraswap in hopes of receiving a piece of the airdrop. However, with Paraswap’s ‘anti-sybil’ airdrop, only 1.5% of total wallets that interacted with the protocol received the tokens.
This led to many addresses being left out and not rewarded for using the platform, even if their intentions were not malicious. Some users also stopped using Paraswap after the airdrop, leading to a downward trend in both volume and active addresses.
Paraswap’s downfall can be a lesson to other protocols to better design airdrops that are inclusive while less easily abused.

Long Term Hodlers Accumulating the Dip

On-chain data shows that throughout January’s price slump, long-term holders have accumulated bitcoin after months of offloading bitcoin at the end of last year.
Coupled with the correlation data shown yesterday, it illustrates a transference from shorter-term “weak hands” to long-term “strong hands.”
A rise in long-term holder accumulation could be a positive indicator for bitcoin price.

7% Inflation Print Sends BTC Up and Dollar Down

After being spooked by hawkish Fed minutes, investors were expecting a high inflation print yesterday. However, the CPI print came within market expectations at 7% YoY and 0.5% MoM.
Bitcoin price rallied on the news, and the dollar index slumped to a 2 month low. After testing September lows earlier this week, Bitcoin and the broader market experienced a modest relief rally.

Notable Tweets

BTC ETF in India Soon

BREAKING: #Bitcoin ETF to launch in India soon!

— Bitcoin Archive (@BTC_Archive) January 13, 2022

NEAR Protocol Raises $150M

JUST IN: A $150 million raise for @NEARProtocol is the latest move from an ecosystem positioning itself for a major $NEAR DeFi push.

@Blockanalia reports

— CoinDesk (@CoinDesk) January 13, 2022

fees.wtf Airdrop

Contract is verified and open for review, and our updated website is live. You can claim your airdrop at 12am GMT. You can now get your free referral link to copy and send out. Each claim that uses your ref nets you $ETH

https://t.co/DczpQYPv7L
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— fees.wtf (@feeswtf) January 13, 2022