TLDR Index
TLDR Crypto

TLDR CRYPTO 2024-08-08

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01GENERAL

Sponsored

SOLANA!

Just announced: the Global PYUSD Portal Hackathon! This online event, a collaboration between PayPal and Portal built on Solana, begins August 12, 2024.

pyusd.portalhq.ioSponsor

02MARKETS & BUSINESS

UK REGULATOR FCA HAS ISSUED OVER 1K WARNINGS TO CRYPTO FIRMS SINCE OCTOBER

Since new financial promotion rules took effect in October, the UK's Financial Conduct Authority (FCA) has issued over 1,000 warnings to crypto firms, leading to the removal of 48 apps from U.K. app stores. The FCA continues to crack down on unregistered crypto companies illegally promoting to the U.K. market while also providing guidance to ensure firms properly categorize their customers.

coindesk.com1 min read

BITCOIN VOLATILITY HITS 20-MONTH HIGH, TRADERS HEDGE AGAINST FURTHER SLUMP

Bitcoin's volatility index has surged to a 20-month high, driven by recent price drops below $50,000, prompting traders to hedge against potential further declines. While some traders anticipate more downside, others see this as a buying opportunity, with expectations of a possible near-term recovery.

cointelegraph.com2 min read

03INNOVATION & LAUNCHES

SYNTHETIC DOLLAR PROTOCOL ETHENA EXPANDS TO SOLANA, INCLUDES SOL AS BACKING ASSET

Ethena Labs expanded its synthetic dollar protocol, Ethena, to Solana to improve the scalability and stability of USDe. USDe aims to maintain a $1 peg and currently offers a 12.3% annual yield for staked assets. SOL will be used as a backing asset alongside other crypto, improving the financial strength of USDe and potentially unlocking billions in additional futures market interest.

unchainedcrypto.com2 min read

ZORA UPGRADE

Zora has launched a major protocol upgrade, integrating with Uniswap to create on-chain secondary markets that allow creators to earn royalties from trades after a mint ends. This upgrade introduces new features like Secondary Rewards, efficient price discovery, and instant liquidity, enhancing the experience for both creators and collectors.

threadreaderapp.com2 min read

04GUIDES & TUTORIALS

WHY ETHEREUM FEES WERE DOWN $679M IN Q2 (57%)

Ethereum's fees dropped by 57% in Q2 after the EIP-4844 upgrade, which increased block space and reduced costs, boosting L2 scalability. While this might look like a financial dip, it's actually a positive sign — L2 transactions and users have surged, showing Ethereum's network is scaling and improving.

threadreaderapp.com2 min read

PERFORMANCE OF TOKENS LISTED ON BINANCE YTD

Since the start of 2024, Binance has listed 30 new tokens, but the majority have experienced declines in performance. This trend indicates that most of these newly listed tokens are underperforming, reflecting broader market challenges or specific issues within the projects.

threadreaderapp.com1 min read

05MISCELLANEOUS

THE RACE TO DOMINATE STABLECOINS

Stablecoins could transform global finance by challenging banks and payment networks. As competition among issuers, banks, and tech companies intensifies, the race to dominate this new "operating system for money" could reshape the future of finance, with regulators playing a key role in determining the market's outcome. The likely result is a market with multiple stablecoins offering faster, cheaper payments, benefiting consumers but potentially sidelining current issuers.

hbr.org12 min read

THOUGHTS ON JUMP SUPPOSEDLY LEAVING CRYPTO

Jump Crypto might be exiting its "building" ventures, where it invested in crypto projects in exchange for token allocations, following a series of setbacks like Luna, Wormhole, and FTX. However, its core trading operations likely remain active and profitable, with recent wallet activity suggesting it is offloading its crypto holdings as it scales back its involvement in the space.

threadreaderapp.com2 min read