The total amount raised in the crypto industry during October 2024 saw a significant increase of 96% month-over-month, reaching $1.76 billion. According to Messari’s latest report, this represents the highest level of fundraising activity since November 2023. 282 Crypto Deals in October The report shows that the deal count in October increased by 25% compared...Read More
The Ethereum Foundation holds $970.2 million in its treasury, according to the newly released report. This includes $788.7 million in crypto and $181.5 million in non-digital asset investments. A major 99.45% of the foundation’s crypto holdings are in ETH, which represents 0.26% of the total ether supply as of that date. By prioritizing ETH for...Read More
Liquid restaking protocol Swell has announced that its Layer 2 is migrating to the Optimism Superchain. Swell said it would move away from the Polygon Chain Development Kit (CDK) as part of this strategic transition. Swell Layer 2 Transitions According to the official blog post, Swell is set to provide restaking yield and security functions...Read More
The Dencun upgrade in March 2024 was a significant milestone for Ethereum, but it also brought about unforeseen challenges, particularly for Layer 2 networks. Christine Kim, a researcher at Galaxy, highlighted that this upgrade inadvertently led to an increase in transaction failures across these networks. Ethereum’s Layer 2 Networks Face Challenges Kim’s August 21 analysis,...Read More
Ethereum’s Layer 2s are bustling with activity. The latest data suggest that the ecosystem has reached a new record for daily transaction volume. In fact, these networks were also found to hold now more stablecoins than Solana and Binance Chain combined. Ethereum Layer 2 Ecosystem Growth According to the stats compiled by Growthepie, the daily...Read More
Coinbase-incubated Layer 2 network – Base – is seeing a significant surge in daily activity thereby suggesting growing interest and adoption amidst an improved sentiment in the broader market. The Base mainnet also saw a recovery in its TVL after nearly two weeks of slump. Base Layer 2 Growth Over the past week, Base has...Read More
Ethereum and its Layer 2 scaling solution, Polygon, attracted the most new users by far in the first quarter of 2024. The latest report by Flipside revealed that these two blockchain platforms have garnered the most cumulative new users among observed EVM chains since the beginning of the year. Polygon boasted 12.3 million new users,...Read More
Every holder of OP, the native token of the Ethereum-based layer-2 scaling solution Optimism, is currently in profit following the asset’s surge past its all-time high. According to data shared by crypto market intelligence platform IntoTheBlock, over one million addresses holding OP, including wallets that acquired the token at $4.01, are currently in the money....Read More
The cryptocurrency industry has experienced a considerable uptick since the beginning of 2024 as the broader market capitalization exceeds $2 trillion for the first time in a long while. Many analysts and industry experts are calling for even better times ahead, pinpointing that the upcoming Bitcoin halving in April has historically been a precursor to...Read More
The beginning of this week saw a decline in the overall market capitalization of cryptocurrencies, dropping from $1.6 trillion to $1.5 trillion, indicating a day-on-day decrease of over 5%. This market downturn did not spare the native token of the Ethereum-based layer-2 Optimistic Rollup network, OP. Due to the broader market decline, OP incurred weekly...Read More
New findings from crypto analytics firm Santiment provide interesting insights into the development activities of leading crypto assets. The data focuses on the top 10 crypto assets with significant GitHub commits in the last 30 days, with notable progress seen in Cardano, Polkadot, and Kusama. While Cardano reclaimed the top position, Avalanche has secured the...Read More
Prominent Ethereum layer-two scaling solution – Optimism – has gained widespread popularity in 2023, addressing the demand for better alternatives, and its user base has soared this year. According to the latest data compiled by Intotheblock’s data, the network now boasts over 5.9 million addresses with a balance, marking a substantial increase of 391% from...Read More
October is gaining significance as several noteworthy projects, including Axie Infinity, Optimism, and Aptos, are gearing up for significant token releases. The trio is set to release more than $130 million into the market collectively, with Axie Infinity having the largest increase in the circulating supply of its AXS token at 11.5%. Axie Infinity’s AXS...Read More
Optimism, an Ethereum Layer 2 blockchain, recently announced the successful distribution of its third airdrop. Known as ‘Airdrop #3,’ it distributed 19,411,313 OP tokens, equivalent to over $26 million, to a total of 31,870 unique addresses. Optimism’s $26 million Airdrop Optimism recently took to X to announce the successful conclusion of its third airdrop, which...Read More
On the 29th of August, Jeremy Allaire – the CEO of Circle, the company that mints and holds governance over USDC – announced that the popular stablecoin would be coming to Base and Optimism within a week. The launch was part of Circle’s plan to improve the utility of USDC by bringing the stablecoin to...Read More
Optimism network-based decentralized credit market Exactly Protocol became the target of exploitation on August 18th. The breach resulted in a significant drop in the platform’s total value locked (TVL). Meanwhile, Exactly’s recently-announced native token – EXA – slumped by more than 27% over the past day. The protocol was halted temporarily. Another DeFi Project Hacked Blockchain...Read More
Arbitrum has managed to rake in a significant market share as demand for Ethereum rollups soars. According to data shared by CoinShares, Arbitrum remains the top destination for capital flows away from Ethereum, among other protocols as well as layer 2s. As of May-end, the network attracted capital worth $4 billion. Closely following Arbitrum is...Read More
Ethereum scaling protocol Optimism is gearing up for a planned token unlock scheduled for May 31st. As such, over 386 million OP tokens, worth more than $587 million at the current price, will be released, which represents 9% of the total supply. The upcoming event also marks the first unlock for core contributors and investors,...Read More
Coinbase-incubated Base is gearing up for a mainnet launch as the Ethereum layer 2 ecosystem heats up. Path to Base mainnet includes a certain set of objectives to be met. The official timeline for the mainnet launch has not been revealed yet, but Optimism’s upcoming Bedrock upgrade remains a crucial factor. Base Mainnet The Base...Read More
Optimism, a popular layer-2 blockchain, is set to release its long-awaited Bedrock upgrade on June 6th at 16:00 UTC. The Bedrock release – which is a complete rewrite of an entire rollup stack – is expected to be the largest upgrade ever released on OP Mainnet with a focus on reducing fees and improving Ethereum...Read More
On April 19, the VC giant announced Magi, a new rollup client for the Ethereum layer-2 ecosystem, Optimism. It stated that client diversity is important for Ethereum, and it is critically important for layer-2 and rollups. “Multiple independent client implementations can help ensure the safety and liveliness of the network,” the firm noted. Magi is...Read More
Despite a messy governance dispute, Arbitrum’s native token – ARB – has emerged as one of the best-performing assets. The latest surge of more than 20% over the last 24 hours pushed the price to $1.573. During the same period, ARB’s trading volume increased by 204% to nearly $2 billion. From whale accumulation to ramping...Read More
Arbitrum has already been leading the pack in the layer 2 roll-up. However, the daily transactions on the protocol hit 1.14 million on February 21st, surpassing Ethereum mainnet, which recorded 1.05 million. According to the on-chain data on Dune Analytics, this is a new record high for the scaling solution. Since the beginning of the...Read More
The long-awaited second airdrop of Ethereum’s layer-two scaling solution – Optimism – is here. The protocol distributed a total of 11.7 million OP tokens to over 300,000 addresses. The price of OP dropped after the announcement. Many have been expecting the second airdrop of the popular Ethereum layer-two scaling solution, Optimism. The first one saw...Read More
OP – the governance token of Ethereum layer 2 scaling solution Optimism – surged by more than 30% over the past 24 hours from $2.23 to $2.92, hitting a fresh all-time high. The price action comes after Optimism Foundation released a proposal regarding upgrading the Optimism mainnet to Bedrock. The proposal stated that the upgrade...Read More
The Optimism bridge supporting privacy coin BitBTC is actively being exploited for 200 billion BitBTC tokens. Due to the technicals of the hack, the BitBTC team now has less than 7 days to implement an upgrade to minimize the damages. A Poorly Designed Bridge According to Arbitrum tech lead Lee Bousfield on Twitter, the BitBTC...Read More
Crypto staking service provider, Lido, launched on Ethereum layer 2 networks Arbitrum Bridge and Optimism. Lido first revealed its plans to expand stETH across the growing layer 2 decentralized finance ecosystem in July this year. The move is expected to further improve Ethereum staking accessibility. According to the official tweet, the expansion of wstETH, which...Read More
Ethereum pulled off a stunning technical upgrade that saw the popular blockchain transition to the proof-of-stake consensus model for processing transactions after six years of work. However, post-merge activity on layer-2 has dropped. According to the latest stats by Dapp Radar, the already descending unique active wallets and transactions have further dropped by 35% from...Read More
