PHP Flaw Shakes Internet, Bitcoin Flashes Bull Signal, and More

WEEK IN REVIEW

DeFi Giant Uniswap Taps 7 Rival Liquidity Sources to Burn UNI Tokens

The decentralized exchange (DEX) platform Uniswap has turned DEX competitors into potential revenue sources for its UNI token-burning mechanism.

Editor’s comment:

Uniswap continues to make moves that ensure that UNI remains one of the few tokens with a viable value accrual thesis. This update brings in liquidity from Curve, Fluid, Pancakeswap V3, and Slipstream.

Bitcoin Flashes Bull Market Signal Amid Fresh ETF Inflows: Cryptoquant CEO

Bitcoin’s latest capital-flow signal resembles patterns seen during earlier bull markets, Cryptoquant CEO Ki Young Ju said.

Editor’s comment:

As the profile of the average large holder of BTC institutionalizes, ETFs will continue to be one of the main sources of buyside liquidity for Bitcoin, perhaps even moreso this cycle. A steady uptrend in flows is going to be a critical technical signal for a sustained bull run.

Ether Worth $390 Million Locked up by Tom Lee’s Bitmine

Bitmine staked another 159,728 ETH worth about $390.6 million, lifting the share of its treasury put to work to 86.5%.

Editor’s comment:

Lee’s Ethereum conviction is likely one of the biggest bets in crypto history. While Michael Saylor and Strategy have bet more in dollar terms on Bitcoin, Ethereum is arguably a much riskier bet. His “base case” for ETH this cycle is $22,000, about a 9x from current prices.

VC Giant Andreessen Horowitz Drops ‘Crypto’ Branding From $9.8B Investment Arm

Venture capital powerhouse Andreessen Horowitz is dropping the word “crypto” from the name of its dedicated cryptocurrency investment arm, rebranding the business as…

Editor’s comment:

Some have interpreted this as “bearish” for crypto or a way for a16z to distance itself away from the asset class. In reality, “crypto” as a technology is being abstracted away as infrastructure that makes businesses more efficient. Investing in companies that use crypto rather than crypto alone is becoming one of the more common plays in the VC world.

Coinbase, Bitgo Say Unaffected by PHP Flaw; Binance’s CZ Urges Caution

As critical cybersecurity vulnerabilities hit the internet this week, several major crypto asset players, including Coinbase, Bitgo, Bitget Wallet and…

Editor’s comment:

It should be noted that cryptographically secured technology is not affected by a flaw in PHP, only businesses in the industry running unpatched websites. It appears that not a single crypto business or crypto asset has been affected by the PHP vulnerability.