RaaS #456: ETH Liquidity Is Shrinking Fast!

State Of Stablecoins, BERA Tokenomics Update, and Moar!

Sharplink just executed the largest weekly ETH buy ever, acquiring ~79,949 ETH ($259M) between July 14–20 at an average of ~$3,238. They now hold ~360,807 ETH, with $96.6M remaining for future buys, and total staking rewards standing at ~567 ETH.

ZachXBT reveals Crypto Beast dumped $11M+ in ALT via 45+ insider wallets, despite denying involvement. The token crashed from $190M to $3M on July 14. Deleted promos and Celestia-linked funding prove Crypto Beast’s ties. Wallets still hold 89M+ ALT, and it seems the dump isn’t over.

CurveV1 integration remains deceptively risky. To avoid common CurveV1 integration pitfalls, avoid hardcoded addresses, fetch addresses from the AddressProvider, use the MetaRegistry instead of the standard Registry, and keep gas-intensive calls off-chain.

Circle Gateway debuts on testnet for Ethereum, Base, and Avalanche, offering sub-500ms USDC access across chains without bridging. Non-custodial by design, it lets builders unify liquidity with minimal capital via one integration.

Stage 1 rollups have <7 days to comply with new Security Council rules or face demotion to Stage 0. Arbitrum and Starknet already passed. Optimism, Base, Scroll, and others are racing the clock to meet the bar. Let’s see who crosses the line.

Stablecoins are now a $250B asset class, rivaling Visa in settlement volume. Tether leads on CEXs and EM remittances, while U.S. policy shifts like the GENIUS Act signal long-term support.

Uniswap V4’s bit-packed swap data boosts gas efficiency, but makes raw data parsing tricky. Token Terminal solved this at scale using BigQuery UDFs, decoding packed amounts into structured trade metrics across millions of rows without manual overhead.

We can be more degen!

Weed kicks off its Zealy campaign: earn XP, climb the ranks, and collect Points. Top 50 weekly scorers get rewards. Backed by $20M+ in IP, the GWeed AI companion, and a growing IRL product line, early participation may pay off.

ETH leverage is surging just as borrowing costs spike, as Aave borrow rates hit 11% with 94% pool utilization, punishing restaking strategies that rely on cheap ETH. Meanwhile, ETH liquidity is shrinking fast, down 7.3% this week, tightening the screws on traders.

Berachain is pivoting toward what the market wants: fundamentals and yield. Its latest tokenomics shift redirects 33% of ecosystem incentives to BERA stakers, turning the gas token into a yield-bearing asset. It’s a move to align with capital allocators chasing real revenue. Is the Bear now bullish?

Top Gainers: RIZE, STRIKE, CCD, SPK, TKX.

Four U.S. firms are pioneering an “Ethereum Microstrategy” using equity raises to accumulate and stake ETH. SharpLink leads in transparency, but all face high volatility, execution risk, and the challenge of anchoring a dominant ETH narrative.

Roman Storm’s legal team may seek a mistrial after prosecutors called a witness allegedly unconnected to Tornado Cash. The defense claims the witness’s stolen crypto was never laundered through the protocol, potentially undermining the relevance of her testimony.

That’s all for today!