Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 6, 01/02/2024 - 07/02/2024)
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 6, 01/02/2024 - 07/02/2024)EigenLayer TVL surges after staking cap is temporarily removed. Solana network resumes operations after 5-hour outage. dYdX unveils 2024 roadmap with software enhancements and Permissionless Markets.
Weekly DeFi IndexThis week's market cap, volume, and volatility indices were positive at +4.75%, +45.82%, and +10.74%, respectively. Chart of the WeekEigenLayer, an Ethereum-based liquid restaking protocol, saw a significant surge in its total value locked (TVL) hours after temporarily removing its staking cap. On 5 February, the protocol announced that it would lift the per-protocol staking cap of 200,000 ETH until 9 February to “invite organic demand” to the network. EigenLayer is pioneering restaking, allowing users to simultaneously earn Ethereum staking rewards while securing Actively Validated Services (AVSs) to generate additional yield. It introduced the caps last year to ensure security and decentralisation, mainly as a way to prevent any single token from dominating the network. The protocol’s TVL saw a US$1.9 billion (92%) increase from last week following the announcement, jumping from just over $2 billion on 31 January to nearly $4 billion as of 7 February.
News Highlights
DisclaimerThe information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.The brands and the logos appearing in this report are registered trademarks of their respective owners.We’re all ears.Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Thank you for reading! We hope you find our Weekly DeFi and Layer 1 & Layer 2 News Update enlightening! Hungry for more? Visit our Research Hub and University to access other insightful crypto research! Share with a friend if you like our email! Crypto.com DeFi Research is free today. But if you enjoyed this post, you can tell Crypto.com DeFi Research that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
Older messages
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 5, 25/01/2024 - 31/01/2024)
Wednesday, January 31, 2024
Ethereum Dencun upgrade goes live on the Sepolia testnet. New developments in liquid restaking ecosystem underway; TVL reaches US$2B in Jan 2024. Immutable zkEVM launches, mainnet early access live.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 4, 18/01/2024 - 24/01/2024)
Wednesday, January 24, 2024
BIS to focus on tokenisation & CBDC in 2024; tokenised treasuries market cap up 657% YoY. NEAR Data Availability integrates with Polygon CDK. Frax Finance completes V3 rollout, launches Frax Bonds.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 3, 11/01/2024 - 17/01/2024)
Wednesday, January 17, 2024
USDC issuer Circle confidentially files for IPO in US. Polygon launches Amoy testnet, zkEVM enters its next stage of development. Cosmos Hub voting on a proposal to set ATOM's inflation rate to 0%.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 2, 04/01/2024 - 10/01/2024)
Friday, January 12, 2024
TVL of Ethereum L2 networks reach a record-high of nearly $21B in Jan 2024. Ethereum developers confirm #Dencun upgrade testnet dates. Paxos exploring $PYUSD deployment on AaveAave to boost liquidity.
Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 51, 14/12/2023 - 20/12/2023)
Wednesday, December 20, 2023
Cronos Labs launches the Cronos zkEVM testnet. Ethereum approves ERC-3643, its first compliant tokenisation standard. Circle launches its Euro stablecoin, EURC; AllUnity to launch a Euro stablecoin.
You Might Also Like
🥛 Bitcoin's biggest event of the year - don't miss the alpha! 🚨
Friday, July 26, 2024
PLUS: How long does it take to make $1M? 🤔
What will Trump say in his Bitcoin Conference 2024 keynote tomorrow?
Friday, July 26, 2024
Trump's evolving stance on Bitcoin marks a historic shift in his campaign strategy ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
WuBlockchain Weekly: Ethereum Spot ETF Sees Net Outflow of $179 Million in Three Days, Mt. Gox Assets Continue to …
Friday, July 26, 2024
1. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly - 🚀 Solana Monkey Business & Other Collections Propel Solana NFT Sales to Second P…
Friday, July 26, 2024
Solana Monkey Business & Other Collections Propel Solana NFT Sales To Second Ranking. Telegram Launches Web3 App Store. Animoca Partners The Open Network (TON) for Ecosystem Integration. ͏ ͏ ͏ ͏ ͏
Thinking Through the POGO Ban
Friday, July 26, 2024
CRYPTODAY 136 ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
🥛 Are you investing or gambling in markets? 🎰
Thursday, July 25, 2024
PLUS: Crypto is down. Here's why… 🩸
Bitcoin and Ethereum plunge after US tech sell-off, sparking $300 million in losses
Thursday, July 25, 2024
The strong outflows from spot Ethereum ETFs also contributed to the downward market pressure. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Analysis: Comparison of Buy and Sell Orders after the Ethereum Spot ETF Listing and Its Long-term Impact
Thursday, July 25, 2024
By SoSoValue ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Reminder: Crypto Companies Show Resilience As Microsoft Outage Affects Millions
Thursday, July 25, 2024
We bring you the top stories in crypto every week! Stories like... Monday July 22, 2024 Sign Up Your Weekly Update On All Things Crypto TL;DR Crypto Companies Show Resilience As Microsoft Outage
🥛 Bitcoin is digital gold, what's Ethereum? 👀
Wednesday, July 24, 2024
PLUS: ETH vs. BTC ETFs: The Day 1 showdown ⚔️