Nasdaq-listed cryptocurrency exchange Coinbase has launched its long-awaited non-fungible token (NFT) marketplace in beta form for select customers, after the exchange unveiled plans for it in October.

Switzerland-based firm 21Shares AG and leading exchange-traded fund (ETF) provider ETF Securities have launched two funds that offer investors access to the leading cryptoassets Bitcoin and Ethereum.

The development team behind pioneering cryptocurrency lending and stablecoin project MakerDAO has revealed plans to ingrate with Ethereum sidechain StarkNet, a zero-knowledge chain built by StarkWare.

Sponsored: The Invictus suite of funds offered commendable performance in a quarter marked by heightened volatility in the Bitcoin and broader cryptoasset market. All five of the Invictus funds registered positive returns for the quarter, with the vast majority outperforming their benchmarks. 

Top stories in the Crypto Roundup today:

• Coinbase Launches NFT Marketplace in Beta
• 21Shares, ETF Securities Launch Bitcoin and Ethereum ETFs in Australia
• MakerDAO to Integrate with StarkNet as Part of Multi-Chain Strategy
• 2022 Outlook: DeFi Growth Stalls as Macroeconomic Expectations Change
• Sponsored: Invictus Capital continues to deliver an uninterrupted path of growth across all its funds

Coinbase Launches NFT Marketplace in Beta

Nasdaq-listed cryptocurrency exchange Coinbase has launched its long-awaited non-fungible token (NFT) marketplace in beta form for select customers, after the exchange unveiled plans for it in October.

The NFT marketplace is accessible for everyone to view, although only select users areable to buy and sell assets on it for now. Coinbase opened a waiting list for the marketplace back in Octoberwhich saw more than 1.5 million users sign up.

Beta testers have been selected based on their position on that waitlist. The testers can create a profile on the marketplace which is accessible  using any self-custody wallet. Coinbase does not charge transaction fees for a limited time and partnered with the 0x Protocol to optimize network fees.

For now, Coinbase NFT only supports Ethereum-based assets and payments in ETH, although the company plans to integrate other blockchains in the future.

The launch sees Coinbase join other top cryptocurrency exchanges in launching an NFT marketplace. Binance, FTX, and OKCoin have all launched similar marketplaces to compete with OpenSea and LooksRare.

21Shares, ETF Securities Launch Bitcoin and Ethereum ETFs in Australia

Switzerland-based firm 21Shares AG and leading exchange-traded fund (ETF) provider ETF Securities have launched two funds that offer investors access to the leading cryptoassets Bitcoin and Ethereum.

The BTC fund, the ETFs 21 Shares Bitcoin ETF (EBTC), is set to be the first Australian ETF to invest directly in the flagship cryptocurrency, while the ETFS 21Shares Ethereum ETF (EETH) is the first to invest directly in ether.

Both funds are set to go live on April 27 on the CBOE Exchange and track the prices of their respective cryptoassets in Australian dollars. The assets backing them are held in cold storage by Coinbase.

The new ETFs are part of 21Shares’ growing portfolio of cryptocurrency investment products, which include exchange-traded products tracking leading cryptocurrencies and two ETPs with investor staking rewards.

The Switzerland-based firm has over $2.5 billion in assets under management and a current valuation of over $700 million.

MakerDAO to Integrate with StarkNet as Part of Multi-Chain Strategy

The development team behind pioneering cryptocurrency lending and stablecoin project MakerDAO has revealed plans to ingrate with Ethereum sidechain StarkNet, a zero-knowledge chain built by StarkWare.

MakerDAO is the issuer of the popular stablecoin DAI. The integration, the team believes, will make DAI “minting, trading and liquidation significantly faster.”  The integration will take place in four phases, starting with a simple bridge between the main blockchain and StarkNet’s layer-two, which is set to go live on April 28.

The second phase will allow users to withdraw from the layer-two to layer-one through Maker’s “Wormhole” design,” and the third phase will allow users to bridge between layer twos.

The integration is part of MakerDAO’s plan to expand to other blockchains and follow’s the project’s integration with other Ethereum scaling solutions Optimism and Arbitrum.

2022 Outlook: DeFi Growth Stalls as Macroeconomic expectations change

Throughout the first quarter of 2022 major crypto assets failed to seize the momentum seen in 2021. As a result, the total crypto market capitalization fell 5.37% to $2.09tn.

These movements were mainly driven by the uncertain macroeconomic conditions during the quarter, including Russia’s invasion of Ukraine and surging inflation rates which are rising at the fastest pace since 1982.

These events have also seen the spotlight land on cryptocurrencies. Over the past few months, crypto donations have poured into Ukraine and many have questioned the use of crypto by Russian oligarchs. Unsurprisingly, this has led to calls for more regulatory clarity on the asset class with the Biden administration announcing an executive order to ‘ensure responsible development of digital assets.

The Ruble has seen significant declines since President Biden announced the first tranche of sanctions on Russia, seeing a 10.7% depreciation against the US Dollar throughout the first quarter.

Ruble-denominated crypto trading volumes have jumped as a result, despite some exchanges imposing restrictions.

Meanwhile the DeFi landscape has shifted in the most recent quarter following an impressive surge in activity for DeFi protocols during 2021. Ethereum has maintained dominance (now at 55.6%), despite stagnant growth with a current TVL of $150bn (down 20.8% from the end of 2021,Q4).

This stagnation can be attributed in part to the weak performance of crypto assets during the quarter, but also to the fierce competition among alternative layer-1 protocols.

Find out more via CryptoCompare’s 2022: Outlook report.

Invictus Capital continues to deliver an uninterrupted path of growth across all its funds

The Invictus suite of funds offered commendable performance in a quarter marked by heightened volatility in the Bitcoin and broader cryptoasset market. All five of the Invictus funds registered positive returns for the quarter, with the vast majority outperforming their benchmarks. The simple average return across our suite of funds was 10.7% for the quarter, which is equivalent to an annualized return of 50%.

• The Crypto10 Hedged (C10) fund offered the greatest returns over the quarter at 23.91%, far outstripping its benchmark of 1.66% and Bitcoin at 12.36%. 

• Crypto20, the flagship fund, had a stellar year registering a return of 334.98%, it significantly outperformed its Top 20 equally weighted benchmark, which rose 261.92%.

• The Invictus Bitcoin Alpha (IBA) fund  managed to outperform Bitcoin throughout the fourth quarter, marking a total return of 14.56%, accompanied by significantly less volatility.

• The Hyperion venture capital fund continued on its impressive run, appreciating a further 5.05% off the back of a Quantfury dividend and Syntropy revaluation. The large dividend received by Quantfury will allow for a healthy level of buy-and-burn activity on the IHF token over the coming months.

• Invictus Margin Lending (IML) Fund registered a 2.48% net return for the quarter against its 1.48% benchmark hurdle.

Invictus Capital is now on the cusp of a historic migration into a fully-regulated fund structure that will place us at the forefront of innovation within the asset management space. It should also bring our investors the peace of mind that comes with additional, 3rd-party oversight of our operations.

Disclaimer:

Cryptocurrency trading involves high risk, and is not suitable for all investors. Before deciding to trade cryptocurrencies, tokens or any other digital asset you should carefully consider your investment objectives, level of experience, and risk appetite.

Its content does not constitute financial advice. Please remember that the value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. If you are unsure of the suitability of your investment please seek advice.

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