TomWan

US-Iran war breaks out on a Saturday. CME is closed.
$120M traded in tokenized gold on Ethereum that weekend. Gold held $5,400 onchain, while in TradFi, Gold price stayed the market close price, $5,296.
That's a $104 premium the market couldn't see until Monday. That's why we need tokenization, and more assets will be moved onchain.

Interesting to see Hyperliquid's Open Interest > 24 Hour Volume.
We don't see that often in perps platforms as:
• traders are constantly hedging, quoting, or adjusting their positions
• perps trades are usually for shorter-term trading
Key factor for causing OI > 24 Hr volume on Hyperliquid is HYPE-USDC pair, where 24 hour volume is $160M while OI is $650M (4X). My guess is that a lot of long-term trades are being placed to hedge the HYPE Staked (especially for HIP 3 Markets)

$150M is almost a guaranteed FDV for CHIP by USDai in my opinion, and $300M FDV could also be a likely outcome.
• $600M USDai Supply (~10% of USDe and ENA trading at $1.8B)
• Level-Up S2 Gameplan could reduce sell pressure at TGE
• $1.5B loans in the pipeline that could further increase the yield of sUSDai, which btw is already one of the highest yield bearing stablecoin in the space at 6.7% APY
• Better risk management on default risk by using a insurnace + reinsurance model instead of a capital reserve model
• ACI just reopened the forum post yesterday to explore onboarding USDai/sUSDai on A

The Importance of Treasury Management: $2.5M interest generated for the Arbitrum DAO.
Imagine missing out on this $2M that can be used to fund R&D, Growth, BD, etc. This is how an ecosystem can grow sustainably in the long run.

Max Blobs per Block on Ethereum has increased from 15 to 21 thanks to the BPO-2 fork.
On the 7th of Jan, ~1.5% of the blocks have > 15 blobs in a block.
Ethereum continues to scale.

ETH Staking Exit queue is almost cleared, and 1M ETH is pending to be staked (~18 days to be activated).
Key driver comes from @bitmine. Based on the current price, Bitmine has staked ~$1.3B worth of ETH, which is ~10% of Bitmine's ETH holdings, and ~1% of all ETH Staked.
We can expect Bitmine to continue to stake more ETH in the future, and the entry queue will rise with ETH Treasury Companies as well as ETH ETFs stake more ETH.

Notice anything new? 👀