Blockchain Bites: DeFi Meets NFTs, TSLA Beats Bitcoin in Volatility, Uniswap Breaks $2B

Bitcoin is moving off exchanges, has been less volatile than TLSA and broke its record for longest streak trading above five figures.

Also: Bitwise’s bitcoin fund has more than doubled in size, KuCoin was hacked and Jack Dorsey dropped a few more hints about his decentralized social media standard, Blue Sky.

Top shelf

Accredited investor interest
Bitwise’s bitcoin fund has brought in $8.9 million, the single-largest increase in assets raised in the fund’s two-year history, according to a recently amended filing with the Securities and Exchange Commission (SEC). The firm’s Bitcoin Fund provides accredited U.S. investors with exposure to bitcoin through a traditional product. In 2019, the fund attracted $4.1 million in investment, meaning the fund has more than doubled in size the past year. Bitwise executives pointed to fears of inflation and bitcoin’s role as a hedge as reasons for increased interest in their product. Bitcoin’s well-known volatility is often seen as a barrier to entry for institutional clients, but the cryptocurrency has in fact been more stable than Tesla’s (TSLA) stock.

Enterprise solutions
EY has unveiled a new Ethereum-based, enterprise-grade blockchain solution called the OpsChain Network Procurement. The platform is designed to enable companies to run private end-to-end procurement activities by allowing buyers and sellers to operate as networks, while automatically tracking volumes and spend and utilizing agreed terms and pricing. The platform utilizes open-source software including the Microsoft-backed Baseline Protocol and operates on the public Ethereum blockchain, CoinDesk’s Sebastian Sinclair reports.

Twitter’s blockchain
Jack Dorsey said blockchain is the future of Twitter and his latest initiative is looking to hire at least five new roles, while speaking at the virtual Oslo Freedom Forum 2020 on Friday. The CEO of Twitter and Square revealed details of the nonprofit Blue Sky initiative meant to create an…

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