Daily Digest 9/10

Insight on the biggest news and charts that provide context for whats going on in the market today.

A report from Outlier ventures found that Cardano and ETH have had the most active developers over the last month based on Github commits.
Commits are essentially a revision or a change being made on the network. This can be an indication of how healthy the growth of the network is.
The same company reported a large rise in Polkadot and Cosmos development activity just a couple months before DOT rose to top 10 by market cap.
Previously popular blockchains like EOS and Tron have seen a decrease in development activity and subsequently they have fallen in terms of market cap.

The VanEck first submitted their Bitcoin ETF in December 2020 and the SEC has just delayed their ruling again. They will now have till November 14th to give a yes or no answer.
Legacy institutions want to offer their clients exposure to as many different assets to widen their product offerings. This also gives BTC a chance for further adoption as many old school investors would feel safer buying the ETF than buying directly on Coinbase.
It could be awhile before we see the SEC approve and ETF by any company that applies and one of those reasons is the high volatility and plausible manipulation by a couple whales.
There are currently 13 companies in the US waiting for the SEC to approve their ETF applications.

Algorand has started a foundation to support the growth of DeFi on the Algorand Network. This $300 million will go towards building exchanges, NFT marketplaces, and money markets.
Also also announced Friday that it is giving out two “SupaGrants” of $5 million to fund applications that will aim to build bridges to connect Algo to other blockchains like ETH.
The announcement of this foundation sheds some light as to why Algo shot up almost 100% in just a couple of days.
Algo is another one too look out for in terms of ETH killers. There are currently about 700 organizations building on Algorand.

Aave is one of the biggest DeFi applications on the market for lending and borrowing as well as staking to give users the opportunity to earn on their holdings. Over the last few months daily active address has been dropping off slowly since the crash but trade volume has stayed consistent which is good overall for Aave. Investors have still been slow to get back into DeFi since the large amount of liquidations in May.
Once retail investors feel comfortable about hopping back into DeFi Aave could be one of the biggest benefactors. About 1,000-1,300 active addresses a day right now and $306 million in volume a day is promising for the future of the project.

Aave on the 4 Hour Time Interval