Close ✕
Avalanche, a layer 1 blockchain protocol, is rapidly growing with its daily active addresses reaching 80,000 on April 12th and daily active user base growing 85% in the past 90 days. This growth is ahead of Binance Chain, Tron, Ethereum, Aptos and Bitcoin and signals increased interest from traditional finance companies due to a recent partnership with financial institutions to contribute to its network infrastructure.
Uniswap DAO Approves Governance Proposal for Uniswap v3 Deployment on Polygon zkEVM, a new ZK-Rollup solution compatible with the Ethereum ecosystem. Uniswap V3 is a decentralized exchange protocol that allows token swaps and is a widely used DeFi application within the Ethereum ecosystem. The deployment will allow users to access the DEX from Polygon's Layer 2 network and join nearly 50 other projects already existing on the network.
The tokenized gold market has surpassed $1 billion in value last month, according to Bank of America's research report. The bank views the tokenization of real-world assets, such as commodities and precious metals, as a key driver of digital asset adoption. Tokenized gold offers exposure to physical gold with 24-7 real-time settlement, no management fees, no storage or insurance costs, and low minimum investment.
Ripple has launched its liquidity hub for businesses to access global liquidity pools for cryptocurrencies and fiat, reducing the cost of operations on high-volume transactions. The stand-alone solution can be accessed by enterprises requiring liquidity, offering U.S. dollars, BTC, ETH, ETC, BCH and LTC from various market makers. The solution complements Ripple’s cross-border payments service called on-demand liquidity (ODL), which has onboarded several banks worldwide to provide cheap remittance services with the help of cryptocurrencies.
Ripple Labs announces that its University Blockchain Research Initiative (UBRI) has supported over 45 university partnerships in 20 countries, funding over 1,000 research projects since its launch in 2018. The UBRI, which initially committed $50 million in funding, aims to accelerate academic research and innovation in blockchain, cryptography, fintech, and digital assets. The initiative has facilitated up to 345 courses and began with 17 universities, expanding to 28 institutions by early 2019.
Montana House of Representatives passes Bill 178 to protect crypto miners with 64-35 vote. The bill prohibits local authorities from obstructing mining operations and bars discriminatory electricity rates for miners. It categorizes digital assets as personal property and bars extra taxes on cryptocurrency use. The bill now awaits the signature of Governor Greg Gianforte, who is unlikely to veto it due to his party affiliation with bill sponsor Senator Daniel Zolnikov.
The London Stock Exchange Group (LSEG) has partnered with Global Futures and Options (GFO-X) to offer the UK's first regulated trading and clearing for Bitcoin index futures and options derivatives. In Q4 2023, LCH SA, LSEG's Paris-based clearing business, will introduce DigitalAssetClear for cash-settled Bitcoin index futures. The alliance seeks to improve digital asset derivatives trust and mainstream cryptocurrency finance. As cryptocurrency grows, institutions are becoming more interested in digital assets.
Binance announced that ETH staked through the exchange could be redeemed with BETH holdings on a 1:1 basis from April 19, 08:00 coordinated universal time. The announcement came after Ethereum implemented the highly-anticipated Shanghai hard fork, opening withdrawals of more than 18 million ETH staked in the blockchain since late 2020. Binance said that user requests for withdrawals cannot be canceled and may be slow initially, requiring 15 days to several weeks for completion.
Twitter has partnered with eToro to provide its users with access to financial assets, including stocks and cryptocurrencies. The feature will allow users to buy and sell assets through eToro and monitor market data on additional financial instruments. This move is expected to connect better the brands of Twitter and eToro and reach new audiences. The feature will be rolled out on April 13th to over 350 million Twitter users.
Ethereum's Shanghai hard fork, known as "Shapella," has been completed, allowing users who have staked their ether to withdraw their rewards, marking a significant milestone in Ethereum's transition to a full proof-of-stake network. The upgrade triggered at 22:27 UTC, finalized at 22:42 UTC, and around 285 withdrawals for 5,413 ETH ($10 million) were processed within 30 minutes of activation. Ethereum's next goal is scaling to make transactions faster and cheaper, and then tackling wealth concentration issues in proof-of-stake systems.
Bitcoin's Open Interest has surged by $1.8 billion as its price broke the $27,000 mark, indicating a strong influx of investor interest. Open Interest tracks the total value of Bitcoin futures contracts open on derivative exchanges, with rising figures signifying increased market activity and potential volatility. The recent jump from $11.04 billion to $12.81 billion suggests heightened trading and leveraged positions. The future direction of Bitcoin's price remains uncertain, with the surge potentially fueled by shorts covering positions or longs hoping for further gains. The funding rate suggests a balanced mix of long and short positions.
Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.
Citigroup has unveiled Citi Token Services, a permissioned blockchain platform designed for institutional clients, offering access to tokenized deposits, cross-border payments, and automated trade finance around the clock. This move aligns with Citigroup's goal of creating a 24-7, on-chain, programmable financial system. The partnership with Maersk enables instant payments through smart contracts, benefiting companies with numerous vendors. Citi Token Services also aids corporate treasurers in managing global liquidity more efficiently. Meanwhile, JPMorgan is reportedly still in the early stages of exploring a similar private blockchain service, lagging behind Citigroup's innovation.
Bitcoin is making a strong comeback, currently priced at $26,684 and holding over 50% of the total cryptocurrency market, boasting a market cap of approximately $520 billion. This milestone is significant as it contrasts with the stagnation or decline of many alternative cryptocurrencies (altcoins). Ethereum, the closest rival, sits at $1,632.09, with other altcoins showing modest gains or losses. Bitcoin's resurgence aligns with historical trends, often thriving during bear markets, cementing its status as a digital "safe haven." Despite gains, it remains below its peak dominance levels, but its return to prominence is noteworthy.
Animoca Brands subsidiary Darewise Entertainment is set to introduce the first-ever metaverse token on the Bitcoin blockchain. The token is aimed at powering a comprehensive ecosystem for gaming, brands, and real-world experiences. This move represents a significant expansion of Bitcoin's capabilities beyond a store of value. The metaverse token will facilitate in-game assets and virtual lands for the Life Beyond metaverse project, marking a new era for Bitcoin. Darewise Entertainment is partnering with Horizen Labs to develop and expand the Ordinals ecosystem on Bitcoin, with more innovations expected in the coming months.