❤️ Most Loved Alt

Solana, the most loved altcoin of 2023, plus whether the domain industry is about to fly again

Author

Richard Patey
October 04, 2023 • Estimated Reading Time: 6 minutes

Hey there 👋,

In this week’s newsletter I discuss:

  • Solana, the most loved altcoin of 2023

  • Whether the domain industry is about to fly again

Cheers!

Richard Patey - @richardpatey

CRYPTO

James Butterfill from CoinShares published their latest Digital Asset Fund Flows Weekly Report, showing inflows last week for the first time in 6 weeks totalling US$21M, with Solana making up $5M:

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Very little activity was seen in the altcoin space, Solana continues to shine, with inflows of US$5m, marking its 27th week of inflows and just 4 weeks of outflows this year, highlighting it as the most loved altcoin this year.

In an article by Decrypt, James said that the success of Solana this year:

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…is due to its partnership with many financial institutions, such as payments giant Visa, “while offering ultrafast cheap payments.” He added that despite not having the same number of users or developers that Ethereum boasts, “it has captured the favor of investors.”

As such, Solana is up 20% over the last 7 days, and up 131% year to date:

And the TLV (total value locked) on Solana just hit a new high for 2023, at $338M this Monday:

The top three protocols were liquid staking, such as Marinade, a stake optimization platform with 75K users, as well as the decentralized trading platform Drift and the Solend DeFi lending protocol:

 Upgrade to read about 3 potential upcoming Solana based airdrops.

DOMAINS

With the recent acquisition news of Dynadot acquiring Park.io (the ccTLD backorder and expired auction platform), Jack from DN.com asks whether the domain industry is about to turn bullish:

DN.com is currently selling invest.ai which gets a decent amount of traffic, whether that’s from end users looking to build on the site, or most likely other domain investors looking to purchase. The domain last sold at the end user platform Sedo back in 2017 for $6,999 (classic).

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only.

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