DeFi & L1L2 Weekly - 🚀 Cronos zkEVM Passage campaign was launched; PYUSD surpassed US$500 millon market cap
DeFi & L1L2 Weekly - 🚀 Cronos zkEVM Passage campaign was launched; PYUSD surpassed US$500 millon market capCronos launches Cronos zkEVM Passage to reward users for bridging assets to Cronos zkEVM. PayPal’s PYUSD surpasses US$500 million market cap. ZKsync unveils Elastic Chain, which Cronos zkEVM joins.Weekly DeFi IndexThe market capitalisation index was negative at –11.75%, while the volume and volatility indices were positive at +32.67% and +58.04% respectively.
Chart of the WeekPayPal's U.S. dollar-pegged stablecoin, PYUSD, surpassed a US$500 million market cap following its expansion to the Solana network in May 2024. PYUSD's total market supply has more than doubled since its launch in August 2023, reaching over 533 million tokens as of 9 July 2024. In the past month alone, PYUSD's supply has increased by 84%, rising from 272 million to around 500 million tokens. This growth has been driven by PYUSD's integration with the Solana blockchain, where it now accounts for 25.2% of the total supply ($134.5 million). The remaining 399 million PYUSD tokens are on the Ethereum network. PYUSD's adoption by exchanges like Crypto.com and integration into DeFi protocols like Curve and Frax have also contributed to its rapid growth. News Highlights
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🚀 Cronos launched the Cronos zkEVM Pioneer Program; Solana's liquid staking ecosystem saw notable growth
Wednesday, July 3, 2024
Cronos launches the Cronos zkEVM Pioneer Program. Solana's liquid staking ecosystem sees notable growth. Circle becomes the first stablecoin issuer to comply with EU's MiCA rules. ͏ ͏ ͏ ͏ ͏ ͏ ͏
💲 Stablecoin issuers are the 18th largest holders of US debt; AAVE is considering to join Lido Alliance
Wednesday, June 26, 2024
Stablecoin issuers are the 18th largest holders of US debt. AAVE is considering to join Lido Alliance. Blast will launch an airdrop on 26 June. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
📉 CRV dipped to all-time low; Tether announced new stablecoin aUSDT
Wednesday, June 19, 2024
$CRV dips to all-time low due to its founder's massive liquidations. Tether releases new stablecoin aUSDT backed by its XAUT. Ronin announces its zkEVM chain built on top of Polygon CDK. ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly – 📦 Ethereum blob usage shifted; Paxos launched a new stablecoin USDL
Thursday, June 13, 2024
Ethereum blob usage shifts with Taiko becoming one of the biggest consumers. Paxos launches a yield-bearing stablecoin USDL. ZKsync announces its airdrop plan. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
DeFi & L1L2 Weekly – 💪 The stablecoin market showed robust activity with $846 billion on-chain trading volume in …
Wednesday, June 5, 2024
The 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. ͏ ͏ ͏ ͏
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