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Do you believe in Ethereum killers? Put your money where your mouth is, March 18–24

The crypto market is still in a “fear” state, as evidenced by Bitcoin’s Fear & Greed Index, but it gives us a reason for the industry as a whole to be bullish. Large-scale venture funding rounds, increased adoption of decentralized governance models, and the offering of new institution-grade products suggest that crypto is more than just a daily chart pattern.

In this week’s CryptoBiz newsletter, we’ll discuss new grayscale products that offer accredited investors more ways to bet on so-called “Etherium Killers.” It also documents two funding stories and focuses on the latest developments surrounding Bitcoin in El Salvador ()BTC) hook up.

Grayscale launches smart contract fund for Ethereum competitors

Grayscale Investments, the world’s largest digital asset manager, officially Announced 18th investment productFocused on Ethereum competitors. The Grayscale SmartContract Platform Ex-Ethereum Fund, also known as GSCPxE, provides exposure to seven smart contract platforms: Cardano, Solana, Avalanche, Polkadot, Polygon, Algorithm and Stellar. These well-known Ethereum competitors are now accessible to accredited investors via GSCPxE.While Ethereum remains Decentralized Application (DApp) Market King, Decentralized Finance (DeFi) has become a much more equal place of competition. Over time, we’ll see if the aforementioned “Etherium Killer” will become popular with institutional investors.

Former Polychain GP Announces $ 125 Million Cryptographic Fund with DAO Governance Ambitions

Former Polychain Capital General Partner Tekin Salimi A novel approach to funding cryptocurrency startups.. His new fund, called “dao5,” will provide governance tokens to the founders of crypto projects that represent ownership of future Decentralized Autonomous Organizations, well known as DAOs. Salimi plans to convert the currently $ 125 million worth of fund to its founder-owned DAO around 2025. In other words, all grant recipients will be exposed to all other projects in the portfolio. Collaboration between project founders.Cryptographic investors will hear more about DAO in the coming years as more industry leaders are moving forward. A new model of corporate governance..

Chip giant Qualcomm launches $ 100 million Metaverse fund

Semiconductor giant Qualcomm has entered the Metaverse sector. $ 100 million in funding This will support the project at the crossroads of extended reality (XR), artificial intelligence (AI), and augmented reality (AR). A new fund called the “SnapDragon Metaverse Fund” aims to support developers pushing the boundaries of spatial computing. Qualcomm positions itself as a “ticket to the Metaverse” through wireless and AI technology.rear Facebook rebranded to Meta And it was only a matter of time before the focus was shifted to the Metaverse economy and the plays of other major technologies began to follow.

El Salvador Postpones Bitcoin Bonds to September: Report

The El Salvadorian government reportedly Delay the issuance of Bitcoin-backed bonds Due to the unfavorable market conditions brought about by the geopolitical crisis in Eastern Europe. Treasury Minister Alejandro Seraya told local news about the so-called “volcanic bonds” used to raise money. Bitcoin City in El Salvador, Will be pushed back in September at the latest. If you are thinking: What does the Ukrainian war have to do with the demand for Bitcoin? Legacy finance still considers crypto as a risk-on asset, and keep in mind that traditional investors are likely to reduce their holdings of such assets during periods of uncertainty. That said, Bitcoin and the broader crypto market have held up quite well in the geopolitical crisis. Bitcoin price has exceeded $ 43,000 This week, we have recovered more than 30% from the bottom of January.

Before going!

Is the crypto in the bear market? It depends on how you define it. If digital assets are in other markets, we classify the last four months as a major downtrend.on Market report This week I sat down with fellow analysts Jordan Finesse, Marcel Peckman, and Benton Yuan to discuss the top crypto projects to buy and hold in the bear market. You can check out the full replay below.

Crypto Biz is a weekly pulse of business behind blockchain and crypto that is delivered directly to your inbox every Thursday.