This Week in Tokens: Bitcoin ETFs See Light at the End of the Tunnel, WLD Market Makers to Return Tokens
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This Week in Tokens: Bitcoin ETFs See Light at the End of the Tunnel, WLD Market Makers to Return Tokens
$REKT is a meme coin personally endorsed by the founder of BitMEX, scheduled for official launch on October 19.
Navigating Web3 tides with focused insightsHappy Monday!
TechFlow selects notable tokens each week and explains the catalysts behind them.
$BTC
Grayscale is awaiting a final court decision within 7 days on converting its Bitcoin spot ETF.
Additionally, the U.S. Securities and Exchange Commission (SEC) will make a decision on BlackRock's and Fidelity's Bitcoin ETF applications on October 17.
$ARB Arbitrum Ecosystem
The Arbitrum DAO has concluded the first round of voting for proposals under its Short-Term Incentives Program (STIP). A total of 97 projects submitted proposals, with 57 approved, requesting over 74 million $ARB. Under the program rules, 29 projects will share close to 50 million $ARB in incentives.
The top five projects receiving the most "yes" votes were Camelot, Jones, Dopex, GMX, and Galxe. Among them, GMX requested the largest grant amount—12 million $ARB.
$AXS
$65.8 million worth of $AXS will unlock on October 20, marking the largest single unlock this year for Axie Infinity and accounting for 11.5% of the circulating supply.
Historically, AXS has seen positive announcements before and after unlock events in April and July, but overall price trends have continued to decline.
$APE
$16.7 million worth of $APE will unlock on October 17, with the majority allocated to the team and launch contributors.
$EGLD
@MultiversX (formerly Elrond) will kick off its xDay conference on October 19. The previous xDay event featured several major announcements, including a rebranding.
At xDay2023, they may announce a partnership with Google Cloud.
$STX
The "Bitcoin Unleashed" conference will take place in London from October 19 to 20, with key developers from Stacks and sBTC in attendance.
The Stacks Bitcoin (sBTC) developer test program will begin on October 18. sBTC is a new 1:1 Bitcoin-pegged digital asset designed to bring smart contracts to Bitcoin.
According to the whitepaper, Stacks will function as a Bitcoin sidechain supported by sBTC and STX (Stacks’ native token), with sBTC responsible for minting sBTC and handling BTC transfers, withdrawals, and burns—ultimately unlocking the potential for a multi-billion-dollar "Bitcoin DeFi market."
$TWT
Since early October, @TrustWallet has teased big news on Twitter and announced on October 13 that a major announcement would come next week (this week), which is worth watching.
$REKT
This meme coin was personally promoted by BitMEX founder @Arthur_Hayes and will officially launch on October 19 with an initial FDV of $1 million.
It is a gamified UNIBOT operating on Telegram, though it remains fundamentally a meme coin.
$WLD
In July, Worldcoin (WLD) loaned a total of 100 million WLD to five market makers at launch to provide liquidity, requiring them to either return the tokens or buy them at prices between $2 and $3.12 upon maturity on October 22 (in three months).
The five market makers and their allocations are:
Wintermute received 28 million WLD at launch;
Amber Group received 24 million WLD at launch;
Flow Traders received 24 million WLD at launch;
Auros Global received 12 million WLD at launch;
GSR Markets received 12 million WLD at launch.
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