“Whales are preparing for the next altcoin rally” — CryptoQuant founder:
CryptoQuant founder Ki Young Ju believes that crypto whales are positioning themselves in anticipation of the next altcoin rally as traders hotly debate when altseason will begin.
Ju’s analysis centered around the one-year cumulative buy/sell quote volume difference for altcoins, a metric that measures the differential between buy and sell limit orders using a one-year timespan.
The analyst explained that whales prefer limit orders to avoid slippage, and the rising level of the metric suggests an increasing number of buy-limit orders among large crypto investors and institutions, representing “strong buy walls” of future demand for altcoins.
DeFi is “waking up again” — Active loans return to 2022 levels
DeFi may be experiencing a revival, with key metrics such as active loans and total value locked (TVL) on the rise since their more recent lows in 2023.
Crypto market analytics platform Token Terminal proclaimed that “DeFi is waking up again” in a July 31 post on X.
It backed up this claim with charts and statistics, one of which was for active loans, which have returned to levels not seen since early 2022, at around $13.3 billions.
Morpho secures $50 million funding led by Ribbit Capital for onchain lending
Decentralized finance protocol Morpho Labs has raised $50 million in funding following a recent revamp of its business.
The round was led by Ribbit Capital with participation from a16z Crypto, Coinbase Ventures, Variant, Pantera Capital, Kraken Ventures and other investors. Morpho Labs had previously raised $23.6 million across multiple funding rounds, including an $18 million Series B funding round a16z and Variant in 2022.
The funds will be used to support the recently launched Morpho Blue, a permissionless lending protocol that allows entities to create and manage their own markets without needing prior approval from any central authority. The solution also offers vaults that can be tailored with specific risk management parameters.