🗞 Daily Crypto News, March, 29th💰

Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

🗞 Uniswap’s daily fee generation tops Bitcoin’s by $1.7 million

The world’s top decentralized exchange, Uniswap, is currently beating out Bitcoin’s daily fee generation by more than 50%.

According to the data tracking website, CryptoFees, the leading Ethereum-powered decentralized exchange Uniswap has generated more than $4.8 million worth of fees over the past 24 hours. This has propelled the automated market maker into second place above Bitcoin — which has generated just $3.1 million.

The top network by daily fees is Ethereum with $16.5 million — which beats out the other 30 other networks tracked by CryptoFees combined.

It appears Uniswap’s dominance over Bitcoin may be short-lived, with Bitcoin beating out Uniswap for daily fees averaged over the past seven days by nearly 20% — with BTC pushing $4.15 million compared to Uniswap’s $3.5 million.

🗞 Boomers Next to Adopt Crypto, a Trillion Dollars Could Flow Into Bitcoin Over the NY

Galaxy Digital CEO Mike Novogratz has predicted that as much as a trillion dollars could flow into bitcoin over the next year as wealthy baby boomers get into cryptocurrency. With the example of Morgan Stanley, he says that more banks will start offering bitcoin exposure to their customers.

$1 Trillion Could Flow Into Bitcoin

Michael Novogratz, a longtime bitcoin bull and founder of Galaxy Digital, talked about the future outlook for bitcoin last week in an interview at Reuters Digital Assets Week. He explained that as cryptocurrencies become more mainstream, wealthy baby boomers will be the next generation to get into cryptocurrencies, elaborating:

It could be as much as a trillion dollars comes over the next year from that giant group of wealth.

Baby boomers are those born roughly from the end of the second world war to the mid-1960s. They have been the main beneficiaries of massive stimulus packages that have pumped up asset values since the 2008-9 global financial crisis. A number of them see bitcoin as an asset that can significantly increase in value as well as one that can protect their savings from inflation spurred by massive money printing.

If you’re worried that the U.S. is printing too many dollars … you’re going to shift some of your savings into bitcoin.

🗞 Elon Musk’s Bitcoin Marketing Coup

Here’s some free advice for the Honda Motor Company: Market your cars to the newly bitcoin rich.

I’ve already got the ad copy for you.

A true bitcoiner is building for the future and deferring gratification. She doesn’t blow her hard-earned savings on flashy toys. She prefers a solid, dependable family car.

Diamond hands

This week, the manufacturer began accepting bitcoin (BTC) as payment for its cars, delivering on a promise made in early February by its impish chief executive, Elon Musk. Underscoring his faith in the currency, Musk declared on Wednesday that Tesla would keep rather than convert any bitcoin it earns from car sales.

Incentives to HODL

First off, there’s no indication Tesla is offering a discount to buyers who pay with bitcoin, which you might expect the company to do if its main goal were to acquire more of the stuff. Also, Tesla surely understands bitcoiners are strongly disincentivized to part with their “sats” (a loving nickname for the currency’s smallest unit, 0.00000001 BTC, in homage to creator, Satoshi Nakamoto).

Tribal signaling

Crypto is already obsessed with a car: the Lamborghini. But it’s more of a joke than anything. Were Tesla to become the true status symbol in this industry, it could move the needle.

By embracing bitcoiner culture, Musk is likely to make more sales among that crowd than would happen otherwise, even if they’re settled in greenbacks. Any extra bitcoin Tesla picks up would be gravy.

🗞 DeFi TVL sets new record as BSC-powered protocols add billions

According to data aggregator DeFi Llama, nearly $79 billion in assets are currently locked in decentralized finance protocols.

As such, DeFi’s TVL is currently equal to roughly twice the capitalization of third-ranked crypto asset Binance Coin, nearly one-third of Ethereum's market cap, and on-par with the capitalization of top 200-ranked global company Snap Inc — the company behind Snapchat.

The majority of TVL growth for the past week appears to have been driven by a handful of platforms, with only three of the sector’s 10-largest protocols posting growth.

Binance Smart Chain-native DApps continue to lead the sector’s growth, with fourth-ranked PancakeSwap adding roughly 29% or $1.3 billion to its TVL last week. Newcomer stablecoin DEX, Ellipsis Finance, has also attracted significant capital — representing $1.9 billion and ranking 13th by TVL less than one week after launching.

🗞 Daily Crypto Calendar, March, 29th💰

Stellar (XLM)

"Trading: from 8:00 Mar 29 (UTC) | Pair: XLM/USDT, XLM/BTC"

Avalanche (AVAX)

"The @AvaLabsOfficial Team Building Avalanche Is Hard at Work on the Latest Platform Upgrade Apricot..."

DUSK Network (DUSK)

First release of the Block Explorer that will be used for the Dusk protocol.

GeoDB (GEO)

"We will initiate a token burn of (65%) of Geo tokens. This token burn will reduce the max supply of GEO to 350 mil"

Terra (LUNA), THORChain (RUNE)

"LUNA will join the Sushiswap IL Protection pools... Join with $LUNA $RUNE here, first snapshot will be taken next Monday"

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