Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 48, 23/11/2023 - 29/11/2023)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 48, 23/11/2023 - 29/11/2023)Blast skyrockets with nearly US$600M in TVL days after launch. dYdX completes mainnet migration, rolls out a $20M launch incentive program. Cosmos founder calls for chain split to create AtomOne.Weekly DeFi IndexThis week’s market cap index was positive at +3.71%, while the volume and volatility indices were negative at -19.01% and -58.88%, respectively. Chart of the WeekOn 21 November, the team behind NFT marketplace Blur announced the development of Blast, an Ethereum scaling solution that leverages optimistic rollup technology and aims to reduce transaction costs. It features native ETH and stablecoin yields and promises token incentives to early adopters. The project has significant backing from several venture capital firms, including Paradigm and Standard Crypto. Blast is rapidly gaining traction; however, the project has incited strong discussions among the crypto community for various reasons. For one, the product is not yet live. It also cannot be classified as a Layer 2 — as it lacks a testnet, transactions, a bridge, rollback capabilities, and transaction data transmission to Ethereum — but rather only as an intermediary contract that deposits and locks assets. Despite these concerns, among others, Blast has reached over US$500 million in TVL in less than a week, which includes assets like ETH staked in Lido and DAI in Maker DSR. Blast has surpassed zkSync Era, becoming the fourth largest L2 by value locked. Uniswap’s governance has approved a proposal to delegate 10 million UNI tokens from the DAO’s treasury to seven active delegates (including 404 DAO, Wintermute Governance, PGOV, and StableLab) to combat low participation rates. The tokens will not be tradeable and will only be used for voting purposes, potentially increasing the delegates’ voting power in governance proposals. TVL of Top ChainsTop DEX by ChainNews Highlights
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Market Pulse by the Crypto.com Research & Insights Team (Week 48, 21/11/2023 - 27/11/2023)
Monday, November 27, 2023
Cosmos Hub to decrease max. inflation rate of ATOM. South Korea to pilot CBDC with 100K citizens in 2024. Santander Private Bank to offer BTC and ETH trading.
Weekly NFT & GameFi Update (Week 47, 18/11/2023 - 24/11/2023)
Friday, November 24, 2023
Pacman from Blur launches a new L2 network dubbed Blast. Nike collaborates with RTFKT to release NFT-infused sneakers. Ubisoft unveils an NFT giveaway for its new game.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 47, 16/11/2023 - 22/11/2023)
Wednesday, November 22, 2023
Circle launches 'bridged USDC standard' on new networks. Aave Companies rebrands to Avara, acquires crypto wallet Family. Eigenlayer to launch second phase of its mainnet in H1 2024.
Market Pulse by the Crypto.com Research & Insights Team (Week 47, 14/11/2023 - 20/11/2023)
Monday, November 20, 2023
Crypto.com granted Virtual Asset Service Provider licence in Dubai. Fidelity and BlackRock apply for spot $ETH ETFs. CBOE to launch $BTC and $ETH margin futures trading in Jan 2024.
Weekly NFT & GameFi Update (Week 46, 11/11/2023 - 17/11/2023)
Friday, November 17, 2023
Bitcoin BRC-20 trading is trending . Disney & Dapper Labs partner to launch a mobile app for NFT trading. NHL partners with Sweet to launch official digital collectibles marketplace.
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