DeFi & L1L2 Weekly – 💪 The stablecoin market showed robust activity with $846 billion on-chain trading volume in …
DeFi & L1L2 Weekly – 💪 The stablecoin market showed robust activity with $846 billion on-chain trading volume in MayThe stablecoin market showed robust activity in May. Ethena Labs integrated its USDe and sUSDe into the Blast L2. Linea L2 halted block production due to a security incident from the Velocore.Weekly DeFi IndexThis week's indices were all negative with market capitalisation, volume, and volatility indices dropping by -3.13%, -31.49%, and -42.27%, respectively.
Chart of the WeekStablecoins saw US$846 billion in on-chain trading volume in May 2024, despite a 30% drop in monthly trading volume compared to the previous month. The stablecoin market demonstrates robust activity, with stablecoins increasingly recognised for their potential to reduce international remittance fees. Additionally, the total stablecoin market capitalisation reached a two-year high of $161 billion in May 2024, according to data from CCData. PayPal's stablecoin PYUSD is emerging as a key player, with a market cap nearing $400 million. PayPal recently announced the addition of PYUSD – currently available on Ethereum – on the Solana blockchain. News Highlights
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AuthorResearch and Insights Team 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 Trends from Crypto.com: Market, DeFi, NFT, Gaming is free today. But if you enjoyed this post, you can tell Crypto Trends from Crypto.com: Market, DeFi, NFT, Gaming that their writing is valuable by pledging a future subscription. You won't be charged unless they enable payments. |
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Crypto Market Pulse Weekly - 💸 BlackRock’s IBIT overtook Grayscale’s GBTC as the largest U.S. Spot Bitcoin ETF by…
Monday, June 3, 2024
Blackrock's IBIT overtook Grayscale's GBTC as the largest US Spot Bitcoin ETF; Bitcoin ETPs held more than 1 million BTC; PayPal's stablecoin (PYUSD) launched on Solana ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly - 📉 Ethereum NFTs market declines while Milady thrives.
Monday, June 3, 2024
Ethereum NFT volatility: Milady thrives, but market declines. Yuga Labs halts future CryptoPunks projects. Azuki and Magic Eden unveil dual-chain NFT hoodie collection. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Crypto Market Pulse Weekly - 💸 U.S. SEC approved 8 U.S. Spot Ether ETFs
Monday, June 3, 2024
US SEC approves 8 spot Ether ETFs. Open interest of ETH futures reaches new record high. Bitcoin and Ether ETPs expected to debut on London Stock Exchange on 28 May ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly – 💸 Solana allocates 100% of priority fees to validators; Nomura explores stablecoin issuance …
Monday, June 3, 2024
Solana passes a proposal to allocate all priority fees to validators. Nomura explores stablecoin issuance in Japan. Maple Finance launches Syrup providing institutional yield. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
NFT & Blockchain Gaming Weekly – 🎮 Gaming collections led NFT sales; Loaded Lion: Mane City releases competitive …
Monday, June 3, 2024
Gaming-related NFTs led sales volume last week. ENS domains proposes ENSv2 to extend ENS to Layer-2s. Yuga Labs unveils new development of BAYC including a 'Project Dragon' game. ͏ ͏ ͏ ͏ ͏ ͏ ͏
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