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Decentralized social graph Lens Protocol is creating a network for social spaces. It will leverage zkSync's tech stack to create a hybrid and modular system that will ultimately use a Validium, or off-chain data availability, for social transactions and a ZK rollup for financial activities. It plans to support private social activities, account abstraction, and near-instant finality.
This paper analyzes investment information provided by crypto influencers on Twitter. It explores a massive dataset of 180 creators, 36,000 tweets, and 1,600 assets from 2020-2022. Though the tweets are initially correlated with positive returns, this is followed by negative price action, making the tweets negligible in the long term.
This post articulates how Telegram is transforming from being strictly a social app to providing blockchain and payments for millions of users. Telegram currently has over 900 million active users and is integrating blockchain technology through its TON smart contract network to offer scalability and stablecoin payments via a built-in wallet.
Despite criticism about Ethereum's lack of narrative and supposed "liquidity fragmentation," Layer 1 and Layer 2 ecosystems continue to grow, onboarding more users and developers daily. Ethereum's growing user base and strong market position demonstrate its resilience and potential for long-term success, proving that fears about its decline are largely unfounded.
Ethereum gas is under 5 gwei – the lowest daily average since February 2020.
MtGox is anticipated to distribute 142,000 BTC, 143,000 BCH, and 69 billion yen to its creditors before the end of October 2024.
The Morpho Association has deployed Morpho Blue, a DeFi lending protocol, and its periphery contracts on Base and is proposing to transfer ownership to the Morpho DAO for the official launch.
Avail is working on three separate components: a DA layer based on Ethereum's original danksharding roadmap, the Avail Nexus inter-rollup communication solution, and the Avail Fusion security layer.
Antonio Juliano, dYdX's founder, has decided to step down from his role as CEO. In this article, he reflects on the growth and evolution of the DEX from its beginning to now. Since its inception, users have traded over $1 trillion dollars on dYdX and the company has navigated difficult times like going from 50% in market share to <1%.
The SEC has asked the court proceeding over its lawsuit against Coinbase to reject Coinbase's petition asking for a new regulatory system for crypto. In March, Coinbase claimed that the SEC does not have the authority to extend securities rulings to apply to crypto. The SEC sees its incremental application of existing regulations to crypto as reasonable and within its discretion.
Supermigrate has launched a streamlined platform for transitioning from L1 to L2 networks, providing services for all necessary steps from migration to liquidity provision. The team plans to roll out a rewards program and support additional L2s soon.
HarryPotterObamaSonic10Inu, ticker $BITCOIN, announced the creation of a new memechain in partnership with AltLayer and Eigen DA. The Ethereum-based token is down 58% from its all-time high but up 19% on the news, reaching a market capitalization of $108 million.
The Omni Network is designed to improve Ethereum by connecting different Layer 2 networks to prevent the splitting of resources and maintain Ethereum's decentralized nature. Omni reduces costs and enhances scalability by using Eigenlayer for security. It is a key player in supporting seamless communication across various networks.
Governance tokens and memecoins essentially function the same, as both lack effective community decision-making power and are primarily driven by speculative value, often manipulated by VC-backed interests. The prevailing token distribution models create disparities and hinder the democratization of financial opportunities in the crypto space.
Block, the parent company for Cash App and Square created by Twitter co-founder Jack Dorsey, dedicated its shareholder letter to explaining why it focuses on Bitcoin instead of crypto and Web3. Block believes Bitcoin is the best option for the internet's native currency. Its strategy focuses on making it accessible through Cash App, secure through creating mining hardware, and usable through mobile on- and off-ramps.
Though it may not be explicitly stated, users care about a chain's safety and liveness. In blockchains with few validators, there are slim guarantees about uptime or a strong, honest majority. Users have demonstrated their preference by quickly switching from sidechains and alt L1s to L2s. Low fees and a great UX are important, but are being built up to ensure sufficient decentralization for Ethereum.
As the largest stablecoin, Tether has more US treasury holdings than most countries.
Rabby is offering free gas across 24 blockchains for users to sign crypto transactions.
ZachXBT reports that Rain, a top Middle Eastern CEX, was recently hacked for ~$14.8M in BTC, ETH, SOL, and XRP.
Low volatility was previously a precursor to upward price movement, as it happened at a time when selling was exhausted.
Binance has secured approval to re-enter India from the country's Financial Intelligence Unit. Both Binance and KuCoin were banned from operating in India earlier this year due to non-compliance issues. The two exchanges are two of the first off-shore exchanges to re-enter the Indian market.
Kraken has responded to the SEC's complaint with a final brief arguing for dismissal, criticizing the SEC for failing to define a specific investment contract trading on the platform and instead citing vague investment-like "expectations" and "concepts." The exchange insists on the necessity of a concrete contract for an investment contract, challenging the SEC's broader interpretations and advocating for clearer regulatory frameworks.
Ethereum's original danksharding plan required 32MB blocks, which is not possible with the current network stack. Data availability sampling can be broken up into its core components, creating an efficient mechanism for making data available and having nodes use sampling to efficiently check this data. LiteDAS is proposed as a low-latency, bandwidth-efficient sampling protocol. Improvements are still needed for connecting peers for data dispersal and sampling.
PBFT and BBCA-Chain are Byzantine Fault Tolerant consensus protocols that share similarities in their three-phase flow but differ in how they handle view changes and achieve parallelism. BBCA-Chain places consensus inside a DAG, allowing for parallel block transmission and reduced communication complexity compared to PBFT, which relies on a single leader to propose blocks sequentially. BBCA-Chain is most similar to Bullshark, which is used in Aleo.
Governance tokens are essentially memecoins as they do not have revenue sharing and are not effective at community-oriented decision-making. Since they launch at massive VC-backed valuations, they prevent retail investors from getting a fair acquisition price. Memecoins are evolving into their own asset class, facilitating capital coordination and early community formation, before later becoming the backbone for decentralized protocols. Though VCs deserve profit for the risks they take, the investment process should be more transparent and open.
There are three main components to blockchain bottlenecks – execution, which is solved via parallel processing and faster VMs, data, which has been remedied through EIP-4844, and DA layers like Celestia, and state. Ethereum's state growth, the amount of data needed to be stored by nodes, leads to bloat and slower transaction times, and rollups do not solve the problem. Fuel's approach is to leverage the UTXO transaction model and state minimized techniques to add more capability to Ethereum rollups.
Interest derivatives market Pendle has grown exponentially by capturing tokenized yield from LSTs and LRTs, and becoming a go-to protocol for speculating on points. It dominates the yield swap market, which is expected to grow with more integrations and products. Pendle V3, expected to launch later this year, will introduce intents-based execution and a native cross-margin engine – part of the reason Pendle's value is expected to increase by over 10x by the end of 2027.
Context, a product studio, recently saw its NFT aggregator, mint.fun, acquired by Zora. Since then, it has launched a new project, rug.fun, aimed at changing memecoin engagement. Context wants to create innovative experiences that capture more centralized engagement within the memecoin space and broader crypto landscape.
Onchain media's value is its power to be both abundant and valuable, with provenance for creators and programmability for developers.
Bitcoin's annual volatility, resembling gold in its early stages, is now lower than that of several large-cap tech stocks (Meta, Nvidia, and Tesla), marking a significant shift towards its maturation as a stable asset class.
This post articulates why the low gas cost on Ethereum L1 and the increasing number of transactions on Ethereum L2s is a good sign for the Ethereum ecosystem.
Bitcoin's Runes protocol, released in the same block as the halving, generated $135 million in fees in its first week but has now dropped to below $10 million per week.
Robinhood received a Wells Notice from the SEC indicating the SEC will proceed with civil enforcement despite meeting with the SEC 16 times to discuss registering as a special purpose broker-dealer for crypto assets. Vlad Tenev, Robinhood's CEO, criticized the SEC's approach as "regulation by enforcement" and emphasized the importance of defending both Robinhood's position and customer's right to access crypto.
Binance's market surveillance team, hired to prevent manipulative trading, found that VIP customers like DWF Labs engaged in pump-and-dump schemes and wash trading. The team also discovered that Binance maintained secret internal trading accounts. After these findings, Binance fired the investigator and kept DWF Labs as a client. The SEC has accused Binance of misleading U.S. investors about its risk controls.
Octane is an open-source, modular implementation of the EVM designed to simplify the integration of the EVM into any blockchain application. By incorporating technology from Cosmos and Ethereum, it is capable of sub-second finality, low query latencies, and high transaction throughput. It will be used for creating Layer 1 networks and decentralized sequencers for L2s.
Orb Labs has launched Orby, a chain abstraction provider that simplifies interactions across different blockchains by unifying user accounts and assets, enabling transactions on any chain. Orby provides two main tools: OrbyEngine, a Smart RPC endpoint for connecting and managing accounts across chains, and OrbyKit, an SDK that allows dapps to provide their users with a chain-agnostic experience regardless of which wallet is being used.
Vitalik Buterin discusses how Ethereum has traditionally used gas to manage computational resources (computation, storage, data transmission, and cryptographic proof generation) and represent them as a cost metric. He argues that this approach has some limitations given it doesn't effectively describe the limits of each computational resource. By shifting towards a "multi-dimensional gas system", Ethereum will be able to better align costs with the actual demands and capacities of these computational resources.
RWA tokens reached an all-time high market capitalization of $2.7 billion in February and are expected to grow as BlackRock, Franklin Templeton, and Tether join the narrative. Though stablecoins are the biggest RWA sector, others like commodities, equities, and stocks are beginning to be released. Onchain private credit has already seen $4.4 billion in tokenized loans through protocols like Centrifuge, Maple, and Goldfinch. Real estate tokenization, spearheaded by Parcl and RealT, simplifies property fractionalization and property acquisition.
Donald Trump- and Joe Biden-inspired memecoin prices have risen significantly over the last 24 hours. The MAGA coin is up 44% and the Biden coin is up 22%. This rally seems to stem from Trump recently announcing that his campaign will accept crypto donations.
This post discusses how fully onchain games have the potential to create new gaming experiences by solving challenges that have not been addressed by traditional games. Some of these challenges include creating assets with real value from day one, facilitating efficient value transfer between players, and enabling high-stakes spending.
Binance has denied recent allegations of market manipulation by DWF Labs, which resurfaced following reports of $300 million worth of wash trading in 2023.
Despite controversy, there's a push for more Blast-native assets, reflecting a trend toward creative assets amidst crypto's memecoin season.
The FTX bankruptcy case highlights the issues with "dollarization" in crypto bankruptcies.
Robinhood's first-quarter notional crypto trading volume was $36 billion, leading to revenue of $126 million.
Former crypto exchange FTX has proposed a plan to see 98% of creditors receive 118% of their claims. Other non-governmental creditors would get 100% of claims plus up to 9% interest if the bankruptcy court approves the plan. The money was accrued by selling various FTX assets, like its stake in AI company Anthropic. FTX's lack of BTC and ETH holdings at the time of bankruptcy prevented it from seeing asset appreciation due to recently rising prices.
President Joe Biden's Executive Office announced that Biden would veto the proposed H.J. Res. 109, allowing highly regulated financial firms to be cryptocurrency custodians. The office claims the resolution would disrupt the SEC and overturn a previous SEC bulletin. The legislation passed in the House of Representatives.
VanEck has launched an index of popular meme coins like DOGE and SHIB. Its strategy caps individual coins at a 30% weighting and adjusts monthly. VanEck warns investors how memecoins are volatile and driven by social media influence.
Mastercard is partnering with major U.S. banking institutions like Citigroup, Visa, and JPMorgan to test a tokenized settlement system on a shared ledger platform, aiming to streamline multi-asset class settlements. This Regulated Settlement Network (RSN) trial integrates different asset types like treasuries and commercial bank money into a unified system, potentially improving settlement efficiency and lowering risks associated with traditional finance systems.
This post breaks down how EIP-7702, recently proposed by Vitalik Buterin, incorporates EIP-3074, 4337, and 5003 to improve Ethereum's account abstraction while enhancing security and user experience. EIP-7702 introduces a migration mechanism for EOAs to leverage smart contract features, enabling users to interact with Ethereum in a more streamlined fashion.