Coin overview
ZK
Ended--
Last price (USDT)
890.97K
24h total (USDT)
3.05M
Total vol (USDT)
2024-05-22 09:00:00 ~ 2024-06-17 07:30:00
Trading time (UTC+0)
2024-06-17 12:00:00
Delivery time (UTC+0)
Deutsche Bank to develop Ethereum layer-2 blockchain to tackle TradFi compliance issues
Deutsche Bank is building a layer-2 blockchain based on Ethereum to solve the regulatory hurdles financial institutions face using public blockchains, Bloomberg News reported on Dec. 17. The platform, dubbed Project Dama 2, represents the German banking giant’s attempt to harness blockchain technology’s potential while minimizing risks associated with public ledgers, which can often inadvertently transact with sanctioned entities or criminals. The project, unveiled in November as a pilot, is designed to streamline asset servicing. It leverages ZKsync’s zero-knowledge proof (zkp) technology to offer cheaper and more efficient transactions. Moreover, using zkp will enable enhanced privacy and customization for institutional users developing on Deutsche Bank’s proprietary blockchain. Crypto firms Memento Blockchain and Interop Labs are aiding the platform’s development. Notably, Project Dama 2 is part of the Monetary Authority of Singapore’s Project Guardian, which signals a growing interest among traditional financial players in blockchain-based asset servicing and tokenization solutions. JPMorgan executed its first transaction on a public blockchain in late 2022, also as part of Project Guardian, while Visa is exploring the tokenization of fiat currencies for traditional banks. Meanwhile, traditional finance giants such as BlackRock and Franklin Templeton have tokenized money funds with a combined market cap of over $1 billion. TradFi leveraging blockchain Public blockchains offer immense efficiency for regulated lenders. Ethereum is the favored infrastructure by institutions, as it dominates 81% of the tokenization of real-world assets (RWA). However, the report pointed out that these benefits come with uncertainty over who validates transactions, the possibility of transaction fees reaching sanctioned entities, and the risk of unforeseen blockchain hard forks that could disrupt operations. The solution found by Deutsche Bank was adding its own layer-2 blockchain to the mix. Boon-Hiong Chan, Deutsche Bank’s Asia-Pacific industry applied innovation lead, stated: “Using two chains, a number of these regulatory concerns should be able to be satisfied.” As a result, Project Dama 2 connects to Ethereum while allowing the bank to sidestep some of the alleged risks inherent in public blockchains. By creating a curated list of transaction validators and offering tools to give regulators exclusive “super admin rights,” the bank hopes to provide a more secure and compliant blockchain experience. Mentioned in this article Ethereum zkSync Deutsche Bank BlackRock Franklin Templeton JPMorgan Visa Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
5 Best Cheap Cryptos to Buy Now Under 1 Dollar December 11 – TRON, JUST, IoTeX, zkSync
The altcoin market recently reached an important milestone, with its total capitalization surpassing $425 billion for the first time since November 2021. At its highest point, the market cap climbed to $451.28 billion, reflecting one of its strongest performances in recent months. Analysts view this development as a critical moment for the altcoin sector, which includes cryptocurrencies outside the top 10. In light of this, investors are searching for affordable tokens, particularly the best cheap cryptos to buy now under 1 dollar. 5 Best Cheap Cryptos to Buy Now Under 1 Dollar TRON (TRX) recently hit a new all-time high of 0.4407 USDT on December 3, 2024. Meanwhile, JUST (JST) has shown notable activity, with its price currently at 0.04235 and a market capitalization of 419.23 million. IoTeX (IOTX) is trading at 0.046268, reflecting a slight decline of 0.51% over the past 24 hours. zkSync (ZK) experienced a 1.44% increase on the last day, with its price now at 0.2248. Pepe Unchained ($PEPU) launched on Uniswap and gained significant traction, with its price climbing by 44.8%. Conversely, Bitcoin is recovering from its recent all-time highs, trading around 96,000. 1. TRON (TRX) Tron (TRX), a blockchain network recognized for its payment facilitation role, recently reached a new all-time high of 0.4407 USDT on December 3, 2024. This achievement is significant because its previous peak of 0.3004 USDT, set in January 2018, remained unbroken for nearly seven years. The recent surge in Tron’s value is largely attributed to developments involving its founder, Justin Sun. Sun purchased 30 million WLFI tokens in November, a project linked to Donald Trump’s family. He also joined the project as an advisor. Around the same time, Sun made headlines for spending 6.2 million on artwork. These high-profile moves generated attention, driving interest in Tron and boosting its price significantly. As a result, TRX has risen by 47.3% over the past week. The surge propelled Tron into the top 10 largest cryptocurrencies by market capitalization. However, the price has since retraced slightly and is currently trading at 0.3091 USDT. Tron’s market capitalization currently stands at 23.48 billion, with a 24-hour trading volume of 2.39 billion. The Fear & Greed Index reflects a 74 (Greed) sentiment, indicating positive market conditions. Additionally, the token has experienced 17 green days in the last 30 days, suggesting consistent buyer interest and strong liquidity. 2. JUST (JST) JUST (JST) has shown significant activity recently, with its price currently at 0.04235 and a market cap of 419.23 million. Over the past month, the price has increased by 38.32%. It is trading 30.04% above its 200-day simple moving average (SMA), currently at 0.032511. This upward trend, combined with 19 green trading days out of the last 30, reflects a growing bullish sentiment toward the token. Within the ecosystem, JustLend DAO has reported impressive milestones. The platform has achieved a Total Value Locked (TVL) of 8.65 billion and allocated 114.6 million in grant power. It also boasts 468,992 active ecosystem users. Staked TRX (sTRX) holders in the protocol can earn up to 7.15% APY. These metrics highlight the growing utility of the JustLend DAO within the DeFi space. The current sentiment around JST is bullish, supported by a Fear & Greed Index rating of 74, which indicates greed. The token is considered oversold. This could suggest a potential price increase in the short term. Furthermore, JST is performing positively compared to its initial sale price, which may increase investor confidence 3. IoTeX (IOTX) IoTeX (IOTX) is priced at 0.046268, reflecting a small decrease of 0.51% over the past 24 hours. Despite this slight decline, the market sentiment for the token remains neutral. The Fear & Greed Index currently stands at 74, indicating a “Greed” sentiment among investors. Over the last year, the price of IOTX has increased by 48%, showing significant growth over time. The token is trading above its 200-day simple moving average. This trend suggests a generally positive outlook for the long term. Additionally, IoTeX has recorded 17 green days in the past 30 days. This means the daily closing price was higher than the opening price on 57% of those days. IoTeX has shown resilience over the past year, maintaining consistent growth and strong liquidity. It also trades above key moving averages, reflecting market performance stability. However, short-term price fluctuations may create opportunities for traders, especially those pursuing short-selling strategies. In the longer term, the token’s growth prospects for 2025 seem gradual but promising. 4. zkSync (ZK) zkSync (ZK) is trading at 0.2248, with a 1.44% increase over the past day. It has a market capitalization of approximately 826.24 million, supported by a 24-hour trading volume of 191.12 million, representing about 23.09% of its market cap. The total and maximum supply of zkSync is 21 billion ZK tokens, with a Fully Diluted Valuation (FDV) of 4.72 billion. The price sentiment for zkSync appears bullish, and the Fear & Greed Index currently shows a score of 74 (Greed). Over the past 30 days, zkSync recorded 21 green days. This means that its daily closing price exceeded its opening price 70% of the time. The token has also shown a price volatility of 21.19%, reflecting significant trading activity. By December 2024, zkSync is expected to trade between 0.104752 and 0.226327, with an average estimated price of 0.157073. According to these projections, this could mean a potential price decline of approximately 30.30% compared to current levels. If this forecast is accurate, short sellers could see a return on investment (ROI) of 53.52%. zkSync is considered highly liquid when compared to its market cap. This makes it more accessible to both retail and institutional investors. Its strong 24-hour trading volume also supports this view, indicating a high level of market interest. 5. Pepe Unchained ($PEPU) Pepe Unchained ($PEPU) debuted on Uniswap, quickly attracting attention with a 44.8% price increase. This surge pushed its market capitalization to $161 million within hours. $PEPU currently trades at 0.02024, recovering after a broader dip in the cryptocurrency market. The coin’s Layer 2 blockchain technology is designed to provide faster transactions and lower fees than traditional blockchains. This feature, along with the upcoming launch of the “Pepe Pump Pad,” aims to establish Pepe Unchained as a platform for creating meme coins. Users can mint coins on the Ethereum blockchain without facing high costs or delays. Launched at 2 p.m. UTC, $ PEPU’s trading volume quickly reached 5 million, and the liquidity for its trading pair stood at 3.8 million, locked for 11 months. While some presale investors took profits, the price remained resilient. It found support above the initial presale price of 0.0097 and soon rebounded to higher levels after the listing. The project’s successful presale, which raised 74 million, has provided it with a solid financial foundation. As one of the largest meme coin ICOs of 2024, it is now well-positioned to secure listings on major centralized exchanges (CEXs). In addition, ongoing advertisements, including Times Square billboards, have helped increase visibility and interest. Overall, the early performance of $PEPU shows strong demand and investor confidence. Visit Pepe Unchained Presale Learn More Best Affordable Tokens in 2024 Our Previous Best Cheap Cryptocurrencies to Buy Under 1 Dollar Post
Moonpay Simplifies $PEPE Purchases
Whether you’re in the US or halfway around the globe, you can now use Apple Pay, Venmo, or PayPal to buy $PEPE. This new feature from Moonpay works in all 50 states and across 180 countries, making $PEPE more accessible than ever before Buy $PEPE Easily with Apple Pay, Venmo, and PayPal With Moonpay’s streamlined system, buying $PEPE is as easy as ordering a pizza online. You can pay with tools you already use, like Apple Pay, Venmo, or PayPal. That means you don’t have to jump through hoops or learn the ins and outs of complex crypto platforms. $PEPE has become a fan favorite in the crypto world. Inspired by the popular Pepe the Frog meme, this digital currency has gained traction among people who love internet culture and want to be part of a fun, growing community. 🐸 breaking news 🐸 now you can buy $PEPE with Apple Pay, Venmo, PayPal, and other frog friendly payment methods in all 50 states and 180 countries the most entertaining outcome is the most likely https://t.co/U1RrF9DucR pic.twitter.com/Vn64exyNY9 — MoonPay 🟣 (@moonpay) December 8, 2024 This is a big deal for the crypto world. By teaming up with trusted payment methods like Apple Pay, Venmo , and PayPal, Moonpay is opening the door for more people to explore cryptocurrency. More About Moonpay Moonpay has taken its multi-chain functionality by expanding support for ERC-20 tokens across several major networks, including Base , Arbitrum, Optimism, and zkSync. This means users can now easily buy and sell these tokens on more blockchains, increasing flexibility and accessibility. 🚢 devs keep shipping 🔼 we’ve leveled up our multi-chain functionality! 💙 expanded support for ERC-20 tokens on @base , @arbitrum , @optimism , and @zksync 💜 expanded support for SPL-20 tokens on @solana 🧠 learn more from our team: https://t.co/jtsJJ2raoK pic.twitter.com/b6nowECFXA — MoonPay 🟣 (@moonpay) December 6, 2024 Additionally, Moonpay has also broadened its support for SPL-20 tokens on the Solana blockchain, allowing more users to interact with a wider range of digital assets. This upgrade makes Moonpay an even more powerful tool for anyone looking to navigate the world of decentralized finance with ease. Disclaimer The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
Bitget Has Completed the Dappad (APPA) Contract Swap
Bitget has completed the Dappad (APPA) contract swap. Please note: The distribution of new APPA was conducted at a ratio of 1:1. Deposit service of the new APPA is now resumed. As requested by the project team, the APPA/USDT trading pair is now suspended. The resumption will be announced separately. The new APPA contract address is as follows: zkSync Era: 0xe05C58344B78BbbDe021E3782487e73bB332C1EF For more information, please refer to: Bitget Will Support the Dappad (APPA) Contract Swap APPA: Project Announcement Disclaimer Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk. Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
Bitget Will Support the Dappad (APPA) Contract Swap
Bitget will support the Dappad (APPA) contract swap. Details of the timeline are as follows: Deposit and withdrawal services of APPA have been suspended. Recover all APPA balances and begin the distribution of new APPA to all eligible users at a ratio of 1:1. APPA’s trading will not be affected during the contract swap. The new APPA contract address is as follows: zkSync Era: 0xe05C58344B78BbbDe021E3782487e73bB332C1EF Please note: Bitget will no longer support deposits of old APPA tokens after the contract swap. We will inform users in a separate announcement when the deposit and withdrawal services for APPA are available, following the completion of the contract swap. Where any discrepancy arises between the translated versions and the original English version, the English version shall prevail. For more information, please refer to: APPA: Project Announcement Disclaimer Cryptocurrencies are subjected to high market risk and volatility despite high growth potential. Users are strongly advised to do their research and invest at their own risk. Join Bitget, the World's Leading Crypto Exchange and Web 3 Company Sign up on Bitget now >>> Follow us on Twitter >>> Join our Community >>>
ZK Price Prediction: Will ZKsync Hit $3.00 By 2030?
Blockchain technology has revolutionized the digital asset landscape by providing decentralized and secure systems for online operations. One of the primary challenges for blockchain networks, particularly Ethereum, is scalability. Layer-2 solutions, such as zkSync, aim to address this by enhancing exchange throughput and reducing costs without compromising the security of the underlying blockchain. zkSync, developed by Matter Labs, utilizes zero-knowledge rollup technology to scale Ethereum. Launched in 2020 with zkSync 1.0, it initially allowed for faster and cheaper transactions but lacked support for smart contracts. Despite this limitation, zkSync’s network saw essential adoption, with over $170 million in total value locked at its peak, largely through stablecoins like ETH and USDC. zkSync’s design also includes capped minters, a feature that prevents the risks associated with large token treasuries. This system uses “just-in-time minting,” where minters are allocated a maximum number of tokens to mint as needed. By decentralizing token creation, zkSync ensures that token supply remains manageable and secure, making it a scalable and sustainable blockchain solution. What is ZK Token? The ZK token is the native digital money of zkSync, a layer-two solution built on Ethereum. This token performs several key roles within the zkSync environment, contributing to governance, network sustainability, and user engagement. Through its varied functions, the ZK token is designed to enhance the platform’s efficiency and promote decentralized participation in zkSync’s ongoing development. This governance mechanism aims to ensure that the community has an active role in zkSync’s future, aligning network evolution with user preferences. Introducing the ZK Token Checker → https://t.co/O2UonCvfzi Announcement → https://t.co/hjgI14PHoi Docs → https://t.co/taWBoCnfbc It’s time to put the ZK token into the hands of the community. It’s your turn to govern ZKsync’s future. pic.twitter.com/VD3fZgH5bf — ZK Nation (@TheZKNation) June 11, 2024 The ZK token also serves as a medium for network fees, allowing users to pay transaction charges within the zkSync platform. This functionality encourages the circulation of ZK tokens, potentially fostering long-term network activity. Additionally, the zkSync team has indicated that a staking system may be introduced, allowing users to stake their ZK tokens for rewards while helping to secure the network. In June 2024, zkSync carried out a large ZK token airdrop to reward early adopters. Users who interacted with the network before a designated snapshot date received approximately 17.5% of the total token supply. This airdrop was intended to strengthen user engagement within the zkSync ecosystem, acknowledging initial supporters and inviting broader participation through decentralized governance and potential staking rewards. ZK Token’s Key Roles and Challenges in zkSync’s Decentralized Ecosystem As a new asset in the crypto market, the ZK token, the native cryptocurrency of zkSync, faces certain considerations that may affect its performance and value within the ecosystem. Market volatility is a notable factor, as the token’s price could fluctuate significantly due to its recent launch. Additionally, the token’s long-term value is closely tied to its utility within zkSync. If its functions within the ecosystem prove useful and sustainable, the token may hold long-term value. Decentralization concerns are also relevant, given the initial control needed over token distribution and governance structures. Despite an airdrop intended to spread tokens widely, careful governance planning is essential to ensure that control remains decentralized as the ecosystem grows. A structured and community-driven approach could support zkSync’s decentralization goals. "Trust is a $35 trillion industry" — @lalleclausen Crypto is trust automation. ZK is trust automation at industrial scale. 35% of all jobs in the US are in trust-building functions. Crypto has become a $2.6T industry by automating some of these trust functions, and doing a… — ALEX | ZK ∎ (@gluk64) November 9, 2024 Within zkSync’s decentralized finance ecology, the ZK token operates a crucial role in incentivizing liquidity provision. Liquidity providers who support the operations of decentralized exchanges and other DeFi applications on zkSync are rewarded with ZK tokens for their contributions. This reward structure aims to secure ample liquidity for high-volume trading and other financial activities, boosting zkSync’s functionality and adoption by ensuring that key DeFi operations can run smoothly. The ZK token is integral to zkSync’s network security and user engagement. By staking their tokens, users can contribute to the network’s security infrastructure, with stakers receiving rewards in ZK tokens as an incentive for their role in maintaining stability and resilience. This staking process not only enhances security but also encourages long-term user participation, which builds an engaged community over time. ZK Token Technical Analysis The ZKsync token, currently ranked 126 on CoinMarketCap, has shown slight gains over the last day, with its price increasing by 1.55% to reach $0.1538. Over the last 24 hours,its trading volume has surged to approximately $261.15 million, reflecting a 57.85% increase. This uptick in volume suggests growing interest in the token as traders and investors respond to market fluctuations. Source: Coinmrketcap With a market cap of $565.33 million, ZKsync’s fully diluted valuation stands at around $3.23 billion. The total and maximum supply of ZK tokens remains capped at 21 billion, while its circulating supply is approximately 3.67 billion ZK. The ZK price chart shows notable volatility over recent months, with the price dipping significantly before staging periodic recoveries. The token’s price has recently hovered around the $0.15 mark, reflecting a period of consolidation following earlier declines. ZKsync’s liquidity remains strong, with the volume-to-market cap ratio at 43.83%, indicating active trading relative to its market size. The presence of high-volume trading may support liquidity on exchanges, providing opportunities for users to engage with the token. ZKsync Price Forms Bullish Pattern Amid Strengthening Technical Indicators The ZKsync token has been showing promising signs of a potential upward trend. Based on recent chart analysis from TradingView, the ZK token’s price has developed a notable inverse head-and-shoulders pattern, which is often seen as a bullish indicator. This formation suggests a reversal from previous downtrends and hints at potential price growth if the pattern holds. The chart shows that ZK is currently trading around $0.1501, marking a 3.16% decline on the day. Despite this minor dip, the presence of the inverse head-and-shoulders pattern offers an optimistic outlook for buyers. The breakout above the resistance line, accompanied by a visible green arrow on the chart, suggests that ZK could experience significant upward momentum if buying pressure continues. Source: Tradingview Examining the Relative Strength Index further supports this bullish sentiment. The RSI value stands at 60.17, positioning it above the neutral 50 mark, indicating stronger buying activity than selling. This level is also nearing the overbought zone, which implies sustained demand and potential for further price increases as long as RSI remains in this favorable range. Additionally, the Moving Average Convergence Divergence indicator shows a bullish crossover, with its line crossing above the signal point. This crossover is often considered a positive signal, highlighting that the current momentum favors onward price motion. The histogram, which displays green bars, reinforces the possibilities for an extended uptrend, aligning with the positive momentum indicated by the RSI. ZK Price Prediction Price Prediction Potential Low ($) Average Price ($) Potential High ($) 2024 0.132 0.246 0.388 2025 0.226 0.402 0.551 2026 0.456 0.530 0.792 2027 0.646 0.801 0.921 2028 0.899 0.991 1.227 2029 1.246 1.362 1.563 2030 1.789 1.984 2.019 ZK Price Prediction 2024 ZK’s price in 2024 shows a potential low of $0.132, an average of $0.246, and a high of $0.388. This initial price range suggests a cautiously optimistic entry into the market. Factors contributing to this growth include increased blockchain adoption and interest in layer-2 solutions like ZKsync, driven by Ethereum’s high gas fees. The token’s integration into decentralized finance ecosystems could further attract users and investors. ZK Price Prediction 2025 In this year, ZK’s price is projected to have a potential low of $0.226, an average of $0.402, and a high of $0.551. The significant rise from 2024 indicates expanding adoption and recognition within the crypto community. The year could see developments in ZKsync’s ecosystem, such as more decentralized applications utilizing its technology. As more projects opt for ZKsync’s layer-2 scaling solution, demand for the token may increase, positively impacting its price. ZK Price Prediction 2026 By 2026, ZK’s forecasted price has a low of $0.456, an average of $0.530, and a high of $0.792. This jump reflects the potential impact of mainstream institutional interest in layer-2 solutions, as traditional financial entities may seek faster and more scalable blockchain platforms. Additionally, as Ethereum transitions fully to Ethereum 2.0, layer-2 solutions like ZKsync may become more integral to the ecosystem, boosting ZK’s value. ZK Price Prediction 2027 The year shows a further price increase, with ZK expected to range between a low of $0.646, an average of $0.801, and a high of $0.921. This growth might stem from enhanced technology features or upgrades that make ZKsync even more competitive. Increased efficiency in transaction speeds and cost reductions could attract even more users, contributing to the rising price. ZK Price Prediction 2028 ZK’s projected price spans from $0.899 at the low end to an average of $0.991 and a high of $1.227. As layer-2 solutions mature, ZKsync might gain greater traction in sectors like gaming and metaverse applications, both of which demand high scalability. Partnerships or integrations with high-profile platforms could be pivotal in driving ZK’s popularity and, subsequently, its value. ZK Price Prediction 2029 Forecasts suggest a price range with a low of $1.246, an average of $1.362, and a high of $1.563. This steady growth trend indicates widespread acceptance and possibly new uses for ZKsync’s technology. The increasing demand for sustainable and efficient crypto solutions, particularly in environmental, social, and governance -focused sectors, could further bolster ZK’s position in the market. ZK Price Prediction 2030 In 2030, ZK’s price prediction reaches a prospective low of $1.789, an average price of $1.984, and a high of $2.019. The price surge reflects ZKsync’s established role within the blockchain space. This increase could be influenced by its ability to meet global demand for scalable solutions, ongoing network upgrades, and the possibility of becoming a core component of Web3 infrastructure. By 2030, ZKsync’s ecosystem might encompass a vast array of applications, ensuring high demand and a solid price trajectory for ZK. FAQ’s What will ZK coin be worth by 2026? According to our recent analysis, ZK has high probabilities for it to be valued at $0.792 Will ZK reach $3 by 2030? The coin is moving with a very slow pace and taking from our analytical point of view, the currency will only hit $2.019 Is ZK a good investment? There will be a differentiation of opinions among analysts on whether it is a good investment, but the right judgment is that for small-time investors, the token might not be favourable. But for long-term investors, especially those looking forward to wealth preservation, this might be the right call. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
The total value of storage bridged by Starknet exceeds 950,000 ETH
Dune data shows that the total value of zkSync bridged storage reached 3,736,495 ETH, Starknet's Total Value Bridged (TVB) is 956,317 ETH with a total number of bridged user addresses being 1,227,224; Arbitrum's total value of bridged storage is at 4,420,685 ETH. Optimism's total value of bridged storage stands at 825,631 ETH and Base's total value of bridged storage is at 612,854 ETH.
The total value of Starknet bridge TVB has broken through 950,000 ETH
According to data from Dune Analytics, the total value of Starknet bridge TVB has exceeded 950,000 ETH, reaching 950,156 ETH at the time of writing this article. Calculated at current prices, it is close to $3 billion. The number of bridging addresses reached 1,227,069. In other L2 aspects, the total value of zkSync bridge currently reaches 3,732,440 ETH; Arbitrum reaches 4,320,361 ETH; Optimism reaches 817038 ETH; Base reaches 612557ETH.
The total value of TVB bridged by Starknet exceeds 950,000 ETH
According to data from Dune Analytics, the total value bridged by the Starknet bridge has exceeded 950,156 ETH, which is close to $3 billion at current prices, with a total of 1,227,069 bridged addresses. In other L2 areas, the total value bridged by zkSync has reached 3,732,440 ETH, Arbitrum has reached 4,320,361 ETH, Optimism has reached 817,038 ETH, and Base has reached 612,557 ETH.
Total value of Starknet bridged storage exceeds 940,000 ETHs
Dune data shows that zkSync bridge storage has a total value of 3,732,389 ETH, Starknet bridge storage has a total value (TVB) of 942,769 ETH, and the total number of bridge user addresses is 1,226,876; Arbitrum bridge storage has a total value of 4,214,090 ETH, Optimism bridge The total value of Arbitrum bridge storage is 4,214,090 ETH, Optimism bridge storage is 811,194 ETH, and Base bridge storage is 612,402 ETH.
Ethereum scaling infrastructure startup Spire Labs raises $7 million in seed funding
Spire Labs, an Ethereum scaling infrastructure developer, has raised $7 million in a seed funding round. Maven 11 Capital and Anagram co-led the round, with participation from the a16z Crypto Startup Accelerator, Digital Currency Group, Bankless Ventures, Volt Capital, Finality Capital and others, Spire Labs said Thursday. Angel investors, including Celestia Labs' Nick White and Jacob Arluck, AltLayer's Amrit Kumar, and Anthony Sassano, also joined the round. Spire Labs began raising funds for the seed round in June and completed the process earlier this month, co-founder Kaito Yanai told The Block. The funding was structured as a simple agreement for future equity (SAFE), Yanai said, declining to comment on Spire's valuation. What is Spire Labs? Spire is a crypto startup focused on Ethereum scaling, developing "Based Stack," a rollup framework designed to enable builders to deploy application-specific chains, or appchains. There are already several popular Ethereum scaling infrastructure platforms, such as Optimism's OP Stack, Polygon Chain Development Kit and zkSync's ZK Chains. However, Spire's Based Stack emphasizes "based sequencing" while maintaining the network effects of the Ethereum Layer 1 blockchain, Yanai said. "The Based Stack allows app developers to use Based Sequencing, meaning they can leverage Ethereum Layer 1 as the sequencing layer (Those rollups are called 'based rollups') instead of a centralized sequencer," Yanai said. "This provides superpowers like L1 composability and the credible neutrality of Ethereum, including liveness, censorship resistance and decentralization. Additionally, the Based Stack enables MEV [Maximal Extractable Value] internalization, allowing appchains to capture the MEV they generate, which traditionally leaks to sequencers." Yanai mentioned that Spire has spoken with many DeFi applications on Ethereum and identified a common concern: developers want to create an appchain without losing their connection to Ethereum. He noted that Ethereum currently faces various forms of fragmentation, including liquidity and user base, and Spire aims to unify these elements into a seamless experience. "Based rollups created with the Based Stack are appchains to customize the rollup contract in ways that are impossible on general-purpose rollups," Yanai claimed. He provided an example, explaining that if an NFT marketplace wants to let users trade CryptoPunks NFTs — which only exist on Ethereum Layer 1 — it can utilize an appchain. The marketplace could pull the current state of the CryptoPunks contract from Ethereum, ensuring that every transaction on the appchain reflects the latest information. This approach shows how appchains can connect with Ethereum in new ways, offering unique benefits compared to traditional rollups, Yanai said. Based Stack launch schedule Spire Labs is currently working on the first testnet of Based Stack and aims to launch it by the end of this year, Yanai said, adding that the mainnet is targeted for launch in the first quarter of 2025. When asked whether Spire would also launch its own token alongside the mainnet, Yanai said that while a token won't launch at mainnet, Spire "might launch a token if the time is right and we have clear utility for said token." Currently, there are 11 people working for San Francisco-headquartered Spire Labs, and Yanai is looking to hire a few more developers, including a head of engineering. The Funding newsletter: Stay updated on the latest crypto funding news and trends with my bimonthly newsletter, The Funding. It's free. Sign up here !
Helios: The Multichain Light Client Vitalik Buterin is Excited About
Vitalik Buterin has confirmed Helios’ importance to the Ethereum network. Buterin identified the remaining steps for Helios to become universally verified. Helios’ team considers their protocol critical for Ethereum scaling. Ethereum co-founder Vitalik Buterin called Helios a crucial development for the Ethereum network in a recent post on X. He highlighted the steps needed for the protocol to become universally verified. According to Buterin, some crucial steps ahead of Helios’ full verification included integrating the protocol on users’ mobile and desktop wallets and moving its layer-2 configurations on-chain. He noted that Helios needs to include the specification of state-proof verification rules in its Layer-2 configurations as a starting point. Meanwhile, the Helios blockchain developers, via one of the team members, claim that the protocol is becoming a multichain light client for Ethereum. According to the developer, light clients are fundamental to Ethereum’s scaling, with the possibility of the network hosting thousands of rollups soon. Read also : Vitalik Buterin Talks About Scalability and Innovation on Ethereum The developer explained that current proposals for making rollups interoperable will rely on light clients. Proposals like Optimism’s Superchain and zkSync’s Elastic Chain will depend on light clients for rollup operators to validate incoming cross-rollup messages efficiently. The developer explained other aspects of his team’s work and how it would enhance the Ethereum network. He cited some of the team’s plans, including efforts to explore more robust verification mechanisms and to build better tooling for using Helios on the browser and mobile devices. Helios Milestones The team member highlighted that Helios has implemented a light client for the OP stack based on signed sequencer preconfirmations . That allows Helios to sync on Optimism, Base, Unichain, World Chain, and anything else within the Superchain ecosystem. Read also : Vitalik Buterin Highlights Two Major Risks on the Ethereum Network Helios developers believe achieving the full potential of crypto requires every node to efficiently verify their data regardless of the blockchain, hardware, or internet speed. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
zkSync Price Targets Indicate Strong Growth Potential for Investors
zkSync’s current market cap is $490M, and $460M has been raised from VCs, positioning it for significant growth in the layer-2 ecosystem. The critical level to flip for zkSync is $0.18, aligning with the 0.618 Fibonacci retracement, which is crucial for bullish momentum. Macro Target 2 for zkSync is set at $5.45, projecting a market cap of $20B, indicating strong upside potential for investors. According to Crypto Bullet, the zkSync token (ZK), a key player in the Ethereum layer-2 scaling solutions, demonstrates significant price trends and potential market movements. Recent analysis indicates that zkSync has experienced a notable accumulation phase, which could set the stage for future price increases. $ZK #zkSync Macro chart Circulating Supply Market Cap is $490M. VCs invested $460M. So what’s going here between $0.22-0.08? Distribution? Of course not! It’s the Accumulation range 📍Key Level to flip – $0.18 (0.618 Fib) Considering how undervalued #ZK is right now and its… pic.twitter.com/m5UFNkDL2O — CryptoBullet (@CryptoBullet1) October 19, 2024 Accumulation Zone and Key Levels The chart outlined by Crypto Bullet indicates a price range between $0.22 and $0.08, characterized as an accumulation zone. Investors purchase the token in this phase, suggesting confidence in its future value. The circulating supply market cap currently stands at approximately $490 million, with venture capitalists investing around $460 million into the project. The analysis highlights the $0.18 level as a critical Fibonacci retracement point (0.618). This level is crucial for determining potential bullish momentum. A successful breakout above this level leads to upward movement, attracting more buyers and driving higher prices. Macro Targets and Market Potential Crypto Bullet specifies three macro targets for zkSync, which indicate potential price levels based on market capitalization assessments: Macro Target 1: $2.45, representing a market cap of $9 billion. Macro Target 2: $5.45, correlating with a market cap of $20 billion. Read CRYPTONEWSLAND on google news Macro Target 3: $9.00, predicting a market cap of $33 billion. These targets indicate significant growth potential for zkSync in the competitive cryptocurrency landscape. Achieving these targets would enhance the token’s valuation and solidify zkSync’s role as a prominent player in the market. Market Implications and Future Outlook zkSync’s predicted expansion coincides with the rise of layer-2 solutions in the Ethereum ecosystem. The current accumulation phase suggests that market participants may view zkSync as an undervalued asset with substantial future potential. If the token successfully breaches the identified vital levels, it may experience an influx of investment, further increasing its market visibility and credibility. According to Crypto Bullet, as zkSync continues to develop and innovate within the blockchain sector, its fundamental strengths and substantial backing from venture capital could position it favorably against competitors. The potential for zkSync to tap into a larger market share remains significant as the demand for efficient and scalable solutions increases. disclaimer read more Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
The rise of hybrid crypto exchanges and how they are bridging the digital asset trading gap
Last updated: October 9, 2024 05:23 EDT With the global economy undergoing a radical transformation over the past decade, one sector, in particular, that has expanded and matured at an unprecedented rate is crypto. This is best made evident by the fact that approximately 562 million people worldwide — equivalent to 6.8% of the global population — now own digital currencies, a 34% surge from 2023, when approx. 420 million individuals owned crypto. However, as the digital asset community has evolved, an ugly paradox has reared its head, i.e. while more individuals are entering the space, there’s a growing discontent with traditional centralized exchanges (CEXs). In recent years, more and more users have become wary of the security risks associated with these platforms, especially when it comes to relinquishing control of their private keys and having to trust a third party with their hard-earned assets. Moreover, a string of high-profile hacks and exchange collapses have eroded trust further among the community, leaving many to look for alternatives. On the flip side, decentralized exchanges (DEXs) have tried to position themselves as the perfect alternative to the security concerns plaguing CEXs, allowing clients to retain control of their assets through non-custodial wallets. However, these DEXs come with their own set of problems. For starters, many users — especially those new to the crypto realm — find them difficult to navigate since they come with complex interfaces and a steep learning curve. Additionally, DEXs often struggle with liquidity issues and are mired by slower transaction speeds, making them less appealing for high-volume traders or those seeking quick executions. This dichotomy between centralized and decentralized exchanges has created a gap in the market, leaving crypto enthusiasts longing for a solution that helps bridge the gap permeating these seemingly disparate worlds. Hybrid crypto exchanges offer the best of both universes In response to the limitations put forth by both CEXs and DEXs, a new breed of trading platforms has emerged — namely hybrid crypto exchanges — offering users a more balanced and efficient trading experience. To elaborate, hybrid exchanges leverage the liquidity and speed typically associated with centralized platforms while incorporating the enhanced security and privacy features characteristic of decentralized systems, allowing traders to enjoy fast transactions and deep liquidity pools without compromising on the security and control of their assets. Furthermore, they use off-chain settlement processes, enabling faster transaction speeds by settling trades outside the Blockchain while still utilizing the blockchain’s robust security features for final transaction validation. This approach is particularly beneficial for high-frequency traders who require swift execution without sacrificing the security assurances provided by blockchain technology. Lastly, hybrid exchanges implement a centralized order book (COB) for efficient trade matching, coupled with decentralized digital frameworks for secure storage and transaction processes. Such an operational design enables users to execute trades in troves while allowing them to maintain complete control over their private keys and assets, thus striking an optimal balance between speed and security. Among the popular hybrid exchanges that have gained a lot of traction in recent years include KuCoin, Gemini, and IDEX. However, one exchange that stands apart from the fray is GRVT . Its user-friendly interface, coupled with its robust security measures and high liquidity, has positioned the platform as a frontrunner within this space. That said, what truly sets GRVT apart is its commitment to solving the key issues that have plagued both centralized and decentralized exchanges. By leveraging ZK (zero-knowledge) technology, GRVT offers off-chain order matching and on-chain settlements at an impressive 600,000 transactions per second. Moreover, as the first official Appchain on zkSync’s Hyperchain, GRVT benefits from cutting-edge blockchain infrastructure, further enhancing its capabilities and reliability. Evolving with customer needs As the crypto industry adapts to the times, the importance of hybrid exchanges is becoming increasingly apparent. That said, for these platforms to grow, they need to evolve and offer features that not only meet the growing demands of users but also align with the global regulatory landscape. In this context, the future of hybrid exchanges lies in their ability to adapt to the changing landscape of cryptocurrency regulations. As governments worldwide grapple with how to oversee this burgeoning industry, hybrid exchanges are uniquely positioned to implement compliance-related features without sacrificing the core principles of decentralization and user autonomy. Looking ahead, platforms like GRVT are primed to lead innovation within this space — from implementing advanced trading tools to integrating with emerging blockchain technologies — thus playing a crucial role in shaping the future of digital asset trading. Interesting times ahead!
Bitcoin Price Boosted by Strong U.S. Jobs Report Amid Economic Optimism
Bitcoin prices surged more than 3% on Friday, reaching a peak of $62,300, driven by a robust employment report that eased concerns of an imminent economic slowdown in the United States. The U.S. Bureau of Labor Statistics announced that employers added 254,000 jobs in September, surpassing economists’ expectations of 140,000, with upward revisions for July and August also contributing to a more optimistic outlook. “Bitcoin and other long-tail crypto assets are highly responsive to labor market data, as it influences the Fed’s rate cut decisions, positively impacting Bitcoin due to lower borrowing costs,” noted Leena ElDeeb, a research analyst at 21Shares, in an interview with COINOTAG. Bitcoin sees a resurgence fueled by strong employment figures, easing economic concerns. Discover how September’s robust job growth impacts the cryptocurrency landscape. Employment Boost: A Catalyst for Crypto Resilience The recent employment data paints a favorable picture for the labor market, indicating the highest monthly job increase since March, with 310,000 positions added. The unemployment rate dropped slightly to 4.1%, beating economists’ predictions, equaling the rates seen in June. This economic resilience is positively influencing Bitcoin’s market dynamics after a tumultuous start to October. Risk Assets Rebound: Bitcoin and the Fed’s Monetary Policies Analyst Leena ElDeeb suggests the current employment report bodes well for risk assets such as stocks and cryptocurrencies. The Federal Reserve’s accommodative monetary stance, which lowers borrowing costs, supports Bitcoin appreciation. This environment may prompt renewed cash flow into crypto markets following recent geopolitical tensions that impacted Bitcoin prices. Conclusion As Bitcoin experiences a short-term decline of 6% amid geopolitical strains, the favorable labor market data offers a glimmer of hope. Market participants remain watchful of Fed policies and broader economic indicators. Investors are attuned to ongoing discussions post-November’s presidential election, which may shift fiscal strategies. Amidst robust economic signals, Bitcoin seems poised for potential gains if risk appetites remain positive. In Case You Missed It: Binance Labs Boosts Sophon with New Investment to Advance zkSync Layer 2 Network
Trending Coins To Buy on GeckoTerminal Today – Jupiter, Book of Meme, zkSync, Shiba Inu
Several trending coins on GeckoTerminal are experiencing significant market gains due to their increased trading activities. This upward trend is emerging as the broader crypto market rallies from a recent market slump. Investors now have an opportunity to take advantage of the dip ahead of an anticipated bull run season. Additionally, these tokens’ affordable prices provide a perfect entry point for investors. In response, Insidebitcoins has curated a list of the trending coins on the GeckoTerminal platform that fit this profile. We will delve into the factors propelling these altcoins and explain why they are among the best investments today. Trending Coins on GeckoTerminal today This review offers valuable insights for investors assessing the growth potential of various tokens. Several tokens, including Biaoqing, zkSync, Shiba Inu, Jupiter, and Book of Memes, are currently showing upward trends. They are also affordable, providing investors with ideal market entry points. Meanwhile, Pepe Unchained is set for its DEX launch immediately after its presale. This means that investors have to act quickly and buy the token at affordable prices today as its presale gradually winds down. The L-2 project has drawn widespread visibility among market participants by raising over $16.4 million in its ongoing presale. 1. zkSync (ZK) zkSync is a unique protocol that has been making waves since it was launched less than two months ago. The platform was developed as an innovative Layer-2 project to solve the inefficiencies of the Ethereum blockchain. It achieves this goal by making transaction fees affordable while speeding up processing times. Furthermore, zkSync developers have ensured the project stands out from other Ethereum Layer-2 solutions. The lead developer, via the official Twitter account, noted that while existing Ethereum solutions offer fast and affordable transactions, they often compromise on security. To address this, zkSync utilizes advanced ZK Rollups technology to maintain robust security. Recently, the project garnered attention by launching its ZK token and unveiling a detailed tokenomics plan. Out of 21 billion $ZK tokens, 17.5% are allocated for an airdrop to network users. This strategic move aims to boost community engagement and enhance market visibility. zkSync is priced at $5.6 with a 24-hour trading activity above $560million. The token opened its trading day at $6, marking a 6% gain before succumbing to a 4% decline in the last 24 hours. Currently, zkSync looks promising, as demonstrated by a bullish sentiment and a Fear & Greed Index at 65, which indicates greed. 2. Jupiter (JUP) The Jupiter platform allows users to swap any token and cclAsset seamlessly. It offers them a flexible and user-friendly way to do this in a bid to ensure its widespread adoption. These functionalities also simplify swapping multiple digital assets by making it easier and affordable for users. Meanwhile, the project recently entered into a partnership to integrate its platform with “the Clone Network.” This integration allows users to trade non-native tokens on the Solana blockchain. They can now easily trade ARB, DOGE, and OP for little gas fees. At the same time, the development ensures that users do not have to bridge these tokens before swapping them. Moreover, Jupiter provides crucial liquidity functions in the Solana ecosystem. This has ensured that the token maintains a substantial uptick in price despite the recent bearish sentiment in the market. It has seen a 2.45% increase over the previous month, bringing its market cap to almost $1.3 billion. Analysts have predicted a favorable price trajectory for Jupiter’s price. Some predictions have projected the token’s value to go as high as $2 if it sustains its current positive momentum. Moreover, Jupiter has broken through the $ 0.9 key resistance level. If it manages to hold on to this level until the anticipated crypto bull run, the price may skyrocket as much as 100%. 3. Pepe Unchained (PEPU) Pepe Unchained is an exciting new project in the meme coin space, currently making waves with its presale. Having raised over $16.4 million, it presents a unique opportunity for investors to get in early at a presale price of just $0.00989. With only $300,000 left until the presale hits its next milestone, now is the time to act before the price increases. One of the standout features of Pepe Unchained is its innovative Layer-2 blockchain, specifically designed for meme coins. This technology promises faster transactions and lower fees than Ethereum to address common challenges faced by users. Its launch will revolutionize the L-2 sector and attract developers to build dApps and other applications on its platform. Moreover, the project boasts a double-staking rewards system that offers substantial returns for early investors. With an estimated annual yield of 130%, participants can earn rewards even before the token officially launches on exchanges. This feature not only incentivizes long-term holding but also promotes community engagement. Meanwhile, recent influencer endorsements and increased whale activity have further fueled excitement around the project. Influencers are highlighting its potential to become a leading player in the meme coin market, while large investors are signaling confidence in its future growth. Furthermore, security is paramount for Pepe Unchained, with extensive audits to be conducted by reputable firms like SolidProof and Coinsult. The transparent smart contract structure minimizes risks associated with manipulation, fostering trust among users. This focus on security is essential for attracting serious investors looking for long-term gains. Overall, Pepe Unchained offers a unique combination of innovation, community engagement, and security that makes it an attractive investment. With its presale ending soon and significant milestones on the horizon, now is the ideal time to secure your position in this promising project. Don’t miss out on the chance to be part of what could be one of the most significant meme coin launches of the year! Visit Pepe Unchained Presale 4. Shiba Inu (SHIB) SHIB is a decentralized, community-centric token that has reshaped what meme coins stand for. Since its launch, the Ethereum-based token has moved from a dog-inspired project to a worldwide phenomenon with a vast ecosystem. It enjoys the support of an experienced team and “fanatical” followers on several online communities. Furthermore, the Shiba Inu token has established itself as the biggest rival to Dogecoin, earning the nickname “Dogecoin Killer.” SHIB’s strategic developments, expansion, and dedicated community have ensured that it continues to remain in the limelight. This has seen it evolve to become a means of payment at hundreds of locations globally, either directly or through third-party integrations. Despite a modest 2.3% rise in SHIB’s value today, it trades 129% above the previous year. The token also posts a significant post-launch surge of over 1.25 million percent. Shiba Inu’s resilience is demonstrated by its liquidity, as evidenced by its market cap ratio. Moreover, its recent announcement that Dextool will support its flagship product, ShibaSwap, is set to ensure that its price keeps increasing in the coming days. Despite September’s general bearish sentiment, Shiba Inu remains one of the month’s top gainers. The token outperformed the prominent Bitcoin, Doge, Ethereum, and other notable meme coins. Overall, SHB is well-positioned for continuous price increases due to its dedication to expanding its utilities, dedicated supporters, and ambitious roadmap. 4. Book of Meme (BOME) The Book of meme is a crypto meme project that was built on the Solana blockchain earlier this year. It makes an ambitious effort to capture and promote a dynamic meme culture in the crypto market. It has transcended its meme origin by integrating memes into decentralized storage solutions. Furthermore, the project has built a cutting-edge gambling and crypto trading platform. Also, it is dedicated to ensuring that all memes are permanently stored and globally accessible to everyone. It achieves this by integrating memes with decentralized storage solutions. This strategic integration allows users to engage with a global meme culture. Also, users can do this while enjoying the potential of decentralized finance (DeFi) and blockchain technology. Meanwhile, BOME, the native token, has multiple utilities within the ecosystem. It is used to reward users for their participation in decentralized storage solution initiatives on the platform. It is also used in the platform’s trading and gambling activities. Token holders are part of the project’s governance DAO and influence the token’s future development. Notably, the token has enjoyed widespread adoption in the market since it was launched. It went on a remarkable 2500% price surge within just 12 hours of going live. Currently, the token is trading at $0.007609, indicating a 3% price increase in the past 24 hours. BOME also enjoys high liquidity due to its substantial market capitalization, which has allowed it to maintain its place among the trending coins on GeckoTerminal today. Learn More Trending Presale Tokens To Buy Today Trending Coins on GeckoTerminal Roundup
Investors are Ditching Ethereum for Solana: Here’s Why
Solana leads crypto inflows over the last three months, showing steady growth and gaining investor attention among top networks. Ethereum faces the largest capital outflows despite its strong market position, with newer networks attracting more investments. Emerging blockchains like Sui and OP Mainnet are seeing increased inflows, while Layer-2 networks like Arbitrum and zkSync face declines. Over the past three months, net capital flows in the crypto market have shown notable trends, as posted by MartyParty on social media. The data reveals that Solana recorded the highest inflows, followed by OP Mainnet, Sui, Base, Avalanche C-Chain, Polygon PoS, Injective, and StarkNet. Meanwhile, Ethereum experienced the largest outflows, followed by Linea, Arbitrum, Blast, zkSync Era, Bitcoin, and BNB Chain. These shifting flows reflect a changing market where newer blockchain networks are gaining investor attention, even as established networks like Ethereum face challenges. Solana and Emerging Networks Gain Ground Solana, with the highest inflows among the top 15 networks, has shown steady growth. The price of Solana today stands at $147.05 , with a market cap of $68.92 billion and a trading volume of $2.34 billion. Other networks like OP Mainnet and Sui have also experienced positive flows. Sui, for instance, is priced at $1.63 , with a 24-hour trading volume of $761 million and a market cap of $4.35 billion. These inflows into newer networks demonstrate a shift in capital allocation towards emerging blockchain technologies. Ethereum and Layer-2 Networks Face Outflows Ethereum has seen the largest capital outflows over the last quarter. Even with Ethereum’s strong market position, with a price of $2,648.48 and a market cap of $318.77 billion, it lost ground to newer networks. Layer-2 solutions like Arbitrum and zkSync Era also recorded high outflows. Arbitrum’s price is currently $0.60 , and zkSync is priced at $0.12 , both reflecting the broader trend of outflows from Layer-2 networks. Several smaller networks like Base, Blast, and Injective have experienced varying trends. Take Base, for example. It recorded slight outflows, priced at $0.000002 , with a trading volume of just over $20,000. Injective, on the other hand, saw positive inflows and is priced at $22.06 , showing resilience in a volatile market. Blast valued at $0.0098 , experienced declines despite its growing market presence. Also, the zkSync network, along with Bitcoin and BNB Chain, faced outflows, indicating a possible shift in investor sentiment away from traditional giants towards emerging blockchains. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
How much key market intelligence did you miss on September 24?
Featured News 1.Neiro announces partnership with DWF Labs 2.Arthur Hayes: Doubled MOTHER position 3.CREAM, ID, UNI top Smart Money 24-hour inflow list 4.Phaver: SOCIAL airdrop will be open for claiming at 17:00 today 5.US Bitcoin ETFs saw net inflows of $4.53 million yesterday Trending Topics Source: Overheard on CT (tg: @overheardonct), Kaito $TIA:Today's discussion about TIA focused on Bain Capital Crypto's $100 million investment in it. This significant investment has sparked optimism about Celestia's potential to improve blockchain scalability and throughput, with many highlighting its unique modular architecture and data availability solutions. The news has also sparked increased interest in the $TIA token, with people discussing its potential price action and the impact of the upcoming token unlock. $ZK:Today's discussion about ZK focused on its important progress and growing ecosystem. Key topics included the launch of Aave V3 on ZKSYNC, Treasure DAO’s migration from Arbitrum to ZKSYNC, and the increase in the number of active users on the platform. The community is excited about ZKSYNC becoming the leading liquidity layer and its role in decentralized gaming, with Treasure DAO’s move being a major highlight. The overall sentiment was very positive, with many looking forward to further growth and innovation within the ZKSYNC ecosystem. $NEAR: Discussions around NEAR today have focused on its recent implementation of sharding technology, which has received a lot of attention and is seen as a major breakthrough in blockchain scalability. This development has sparked optimism about NEAR's potential, with many predicting its breakthroughs and emphasizing its role in the field of artificial intelligence, along with other tokens such as TAO and FET. Grayscale also listed NEAR as one of the most promising AI tokens in the third quarter of 2024. ThreadsTweets 1. The truth about DeFi market value, @0xpotatoSam 2. How to become a better crypto KOL, @edison_near 3. The crypto middle class is disappearing, @francescoweb3 Featured articles 1.《The great return of DeFi》 flow, crypto researcher On the one hand, we are witnessing the emergence of multiple new DeFi primitives that are more secure, scalable, and mature than a few years ago. DeFi has proven its resilience, establishing itself as one of the few crypto fields with proven use cases and real applications. On the other hand, the current monetary environment is also supporting the recovery of DeFi. Similar to the last DeFi summer, current DeFi indicators suggest that we may be at the beginning of a larger upward trend. 2.《Seven years after leaving Africa to join Crypto, we are still talking about faith》 Athena Y, Wello developer How the narrative is translated is not too important, especially when another big shot joked that PayFi could actually be called FiFi, because Payment itself is finance. What is really interesting and meaningful is that after a long detour, we began to return to the fundamental attribute of crypto related to payment in addition to investment and speculation. Just like the redistribution of value and wealth, the development of all things in the world follows the basic laws of history. From a small product to a track and industry, what really lasts is the product that truly creates positive value for society. Returning to this essence, our faith will not be so fragile and easily shaken. 3.《How to improve your meeting efficiency in Web3, which is filled with meetings every day? ｜In-depth Dialogue》 Steven Rogelberg, Professor at the University of North Carolina A good meeting atmosphere is inseparable from the active guidance of leaders. They need to pay attention to team dynamics and promote the exchange and collision of different views. In addition, regular one-on-one meetings are also an important means to improve employee participation and retention, especially when managers can listen to and understand employee needs. In general, improving the quality of meetings should focus on their main purpose, structural design, participant selection and feedback mechanism to ensure that each meeting can bring substantial value. Biggest Gainers Losers Token volatility on September 24, sorted by volume Top Gainers 1.$FIDA (Solana) 2.$UXLINK (Ethereum) 3.$Aavegotchi (Ethereum) Top Loser 1.$UPP(Ethereum) 2.$REEF (Ethereum) Today's Hot Memes Meme fund flows on September 24, filtered and sorted by trading volume and increase 1.$MAGA (Solana) 2.$NEIRO (Solana) On-chain data On-chain fund flow on September 24
Ethereum is under great pressure. How do Vitalik and the Foundation respond to the doubts?
Ethereum Foundation reveals spending Recently, the Ethereum Foundation’s sale of ETH and its fund transparency have attracted widespread attention in the crypto community. In response, the Ethereum Foundation announced its official expenditures at the end of August. According to the chart, new institutions accounted for the largest share of foundation spending, at 36.5%. Vitalik Buterin said that this category includes grants to various organizations, such as the Nomic Foundation, L2 BEAT, Decentralized Research Center, and 0x PARC Foundation, and the main goal of building these new organizations is to strengthen the Ethereum community in the long term. The second largest spending category of the Foundation is L1 RD, accounting for 24.9% of total spending. This category includes funding for external customer teams (62%) and internal Foundation researchers (38%). Internal spending includes teams such as Geth, Cryptography Research, Devcon, Solidity, Next Billion, etc. The responsibilities of these teams are public, and there is relevant activity information on their websites, github, and social channels. In addition, the foundation has published activity reports on external expenditures or funding in the past four years. Projects funded by the foundation in Q1 2024 include Xerxis, Ethereum Bogota, Motherless Africa, ETHKL, etc. The rest of the foundations expenditures include community development (12.7%), zero-knowledge applications (10.4%), internal operations (7.7%), developer platforms (6.5%), and L2 research and development (1.4%). In addition to revealing the Ethereum Foundation’s expenses, Vitalik also revealed that his annual salary at the organization is about $139,500. This is not high compared to his net worth, which Forbes estimated at about $1.5 billion in 2022. Regarding the Ethereum Foundations fund management plan, Vitalik mentioned that the foundation will spend 15% of the remaining funds each year, which means that the foundation will exist forever, but its influence in the ecosystem will decrease over time. Foundation member Justin Drake expects that the foundation will still have about 10 years of operating funds, but this will fluctuate with the price of ETH. Vitalik sells ETH again? Vitalik was criticized again after selling $441,000 worth of ETH on September 12, but he explained that the order was placed in August and said that it was the last sale (to fund ecological defense projects) and no similar transactions were expected. It is reported that the transaction was triggered by the Cowswap twap automatic order, which was set as early as August 29 (the twap strategy can execute large orders by spreading large orders into smaller parts over a certain period of time). According to LookOnChain data, wallets associated with Vitalik sold a total of 190 ETH on September 12, and have sold $2.28 million worth of ETH since August 30. In this regard, Vitalik insisted that he never profited from the sale of ETH because all the proceeds were used to fund the project, which was silent. What do Vitalik and the Ethereum Foundation think of DeFi? Long-time DeFi developer Kain Warwick recently accused Vitalik and the Ethereum Foundation of being “anti-DeFi.” The developer claimed that the Foundation only spends a small portion of its budget each year to promote the development of the decentralized finance sector and wastes the vast majority of its annual budget on other unimportant things. Vitalik responded by emphasizing his long-term focus on decentralized exchanges and sustainable projects, and reiterated his commitment to the field of decentralized finance, but he is not interested in investing in short-term projects with unsustainable prospects, such as liquidity mining or temporary projects that rely on issuing new tokens and then selling them on the market. Dankrad Feist, a member of the Ethereum Foundation team, said that the Foundation does not have a unified view on DeFi. He personally likes DeFi, but DeFi cannot solve all of Ethereums problems alone. The financial market itself does not create value, but it can create more value for society by providing services such as liquidity and insurance. DeFis most valuable contribution on Ethereum is decentralized stablecoins. He hopes that these stablecoins can become a pure medium of exchange for cryptocurrencies, but they have serious expansion limitations, so custody solutions are more popular now. Despite this, he believes that it is very valuable to have a decentralized, censorship-free alternative. The main directions of the Ethereum Foundations recent research Despite its controversial spending, the Ethereum Foundation is actively working on technological advancements in multiple areas. Regarding zero-knowledge proof (ZK), George Kadianakis said that research on STARKs and SNARKs is being used, such as recursive signature aggregation and achieving post-quantum security. Justin Drake mentioned that the introduction of SNARKs has significantly reduced the cost of proof, and emphasized the formal verification work of zkEVM. Regarding the Verifiable Delay Function (VDF), Antonio Sanso said that although it has not yet been implemented in Ethereum, the team is studying its potential applications, but it needs further improvement and evaluation. Regarding Maximum Extractable Value (MEV), Barnabé Monnot and s 0 isp 0 ke discussed the research progress of solutions such as ePBS, Execution Tickets, and Inclusion Lists to reduce the impact of MEV and improve the networks anti-censorship capabilities. Vitalik Buterin and Justin Drake believe that binary hash trees may be used instead of Verkle trees in the future to adapt to technology upgrades. In addition, formal verification and verifiable computing are seen as key technologies to ensure code correctness and promote interoperability between different programs. How does the Foundation view the issue of ETH value accumulation? As we all know, according to the roadmap, rollups form a diverse ecosystem on Ethereum L1, there are a large number of DApps on L2, and the fees paid by users are extremely low, but this involves the problem of the lack of value accumulation of ETH assets. Regarding this issue, members of the Ethereum Foundation believe that the value accumulation of ETH is crucial to the success of Ethereum. ETH as a currency supports decentralized stablecoins and provides economic security for the network. Justin Drake, a member of the foundation, believes that Ethereum must become the programmable currency of the Internet, and the value accumulation of ETH will be realized through total fees and currency premium. It is the total fee that is important, not the fee per transaction. Even if the fee per transaction is less than one cent, billions of dollars in revenue can still be generated through 10 million transactions per second. Another important aspect he mentioned is the proportion of ETH used as collateral currency, such as supporting DeFi. Different financial activities on Ethereum will bring value capture to ETH. In addition, he also believes that in the Rollup roadmap, the Ethereum mainnet will be the intersection of high-value activities, and L1 expansion is necessary. If Ethereum is designed to facilitate sustainable economic activity, the value accumulation of ETH will follow. The growth of ETHs value will support the security and economic activity of the Ethereum ecosystem, thereby promoting Ethereum to become a global financial platform. How to deal with the centralization problem of Layer 2? Currently, more than 80% of Ethereum transactions occur on Layer 2 solutions, including Arbitrum, Optimism, Base, and zkSync. L2 networks have also faced some criticism recently for their centralization. Last month, Justin Bons of Cyber Capital raised concerns that these networks pose risks due to their centralization. In response, Vitalik explained that highly decentralized L2 solutions are essentially unable to take away users funds without reaching a strong consensus. On September 12, Vitalik said that he would only publicly acknowledge L2 that has reached Stage 1 or higher in decentralized work, regardless of whether he invests in it or not. Vitalik reiterated his emphasis on L2 and emphasized the importance of security, suggesting that initial protections should not be removed until the proof system is thoroughly verified. Starting next year, he plans to only publicly mention (such as in public occasions such as blogs, speeches, etc.) L2 that is at Stage 1 or higher, and provide a possibly short grace period for truly interesting new projects. Vitalik outlined the criteria for Stage 1+ rollup, which requires a 75% consensus from the council to overturn the proof system, and at least 26% of the council members must be independent of the rollup team. He believes that this requirement is reasonable and necessary for the security of the network. The era of rollup being glorified as multi-signature is coming to an end, and the era of encrypted trust has arrived. It is reported that several zero-knowledge (ZK) rollup teams plan to achieve this milestone by the end of this year. summary In summary, although Ethereum is facing some FUD, the Ethereum team is still actively facing and solving the problem. As the largest public application chain, the fundamentals of Ethereum have not been shaken, and there is no need to be overly pessimistic. The biggest problem of Ethereum at present is that industry applications have encountered a bottleneck period, but the low handling fee of L2 is brewing and promoting the outbreak of new applications. After the lack of liquidity in the capital market improves, the adoption rate of the crypto industry will accelerate, and the future of Ethereum is still worth looking forward to.
Optimism Bridged Storage Total Value Exceeds 800,000 ETH
Dune data shows that zkSync bridge storage has a total value of 3,732,387 ETH, Starknet bridge storage has a total value (TVB) of 938,541 ETH, and the total number of bridge user addresses is 1,226,772; Arbitrum bridge storage has a total value of 4,166,290 ETH, Optimism bridge The total value of Arbitrum bridge storage is 4,166,290 ETH, Optimism bridge storage is 805,629 ETH, and Base bridge storage is 611,809 ETH.
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