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- Bitcoin, Ethereum, Cosmos and more Week 11 2024
Bitcoin, Ethereum, Cosmos and more Week 11 2024
All things crypto, web3 and blockchain across all the Coin Clubs
TLDR: Bitcoin Continued ATH, Block Launches Bitkey, Vanguard Remain Anti Bitcoin ETF, Ethereum’s Dencun Upgrade Finally Goes Live, EigenLayer Mainnet Roadmap Reveiled, Osmosis and Astroport Team Up on Customizable Liquidity Pools, Kado Partner with ATOM Accelerator & Binance Labs Spin-off.
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Market & Airdrop Update
Before we dive in, make sure to check out our recent Market and Airdrop update:
Bitcoin Highlights of the Week
Bitcoin surged to new all-time highs this week, reaching approximately $72,000 on Monday and peaking at $73,679 on Wednesday before retracing to around $68,000. Record inflows, particularly into BlackRock’s IBIT, contributed to the rally. Despite mixed sentiments about the correction, observing tokens that maintain their upward momentum amidst market volatility can provide valuable insights into underlying strength.
A U.K. judge has ruled that Craig Wright, a contentious computer scientist, is not Satoshi Nakamoto and did not write the Bitcoin whitepaper, contradicting his assertions.
Block has introduced its latest self-custodial Bitcoin wallet named Bitkey. This unique crypto wallet, resembling a rock in appearance, is now being delivered to customers who preordered it last year.
Despite facing criticism from customers and ongoing inquiries about the firm’s plans to offer them, Tim Buckley, the CEO of The Vanguard Group, remains staunchly opposed to Bitcoin exchange-traded funds (ETFs). The Vanguard Group is one of the top-tier wealth managers in the world.
On-chain data reveals that a mysterious Bitcoin whale, dubbed "Mr. 100," has piqued curiosity in the cryptocurrency sphere by accumulating more than 52,996 Bitcoin, valued at over $3.5 billion. Since the FTX exchange collapsed in November 2022, the address has consistently been receiving BTC. Starting from February 14th, the wallet has been accumulating at least 100 BTC nearly every day.
Ethereum Highlights of the Week
The eagerly awaited Dencun upgrade for Ethereum was seamlessly implemented on Wednesday, introducing the revolutionary blobs feature. This upgrade drastically reduced rollup costs by up to 99%. Dencun marks a significant stride in Ethereum's scalability journey while maintaining decentralization.
In just three weeks, Ethena's stablecoin USDe surged to a $1 billion circulating supply on Wednesday. Despite its rapid rise, doubts linger about its long-term viability and potential risks akin to previous collapses like LUNA's. Integration plans with Maker and Aave add to the scrutiny. If considering involvement, note that Ethena's points program now ends on April 1st, urging quick decisions.
Monad, a long-awaited EVM-compatible L1, unveiled its developer network this week. Backed by a $200M funding and boasting 10k TPS in tests, Monad lays the groundwork for significant EVM scalability, aiding Ethereum's growth. As the mainnet launch approaches, excitement mounts.
ArbitrumDAO is making a significant move into the gaming sector, allocating a new fund of 200 million ARB to support gaming initiatives within the ecosystem.
EigenLayer is approaching its mainnet launch, with the highly anticipated restaking protocol preparing for its debut and hinting at the final roadmap to be unveiled in coming weeks.
Cosmos Highlights of the Week
Astroport, a decentralized exchange built on Cosmos, plans to launch its passive concentrated liquidity (PCL) pools on Osmosis. This collaboration brings together two prominent DEXes to enhance trading and capital efficiency for users.
Dogmondcoin becomes the first memecoin rollup on Dymension enabling interchain memecoin trading.
Nitron has integrated stDYM, becoming the inaugural money market to accept it as collateral. By lending stDYM on Nitron, users can now earn incentives of up to 25,000 SWTH.
Akash Network successfully upgraded to mainnet 10. This upgrade eliminate the verification of active leases during provider update transactions to reduce transaction fees.
Kado announces partnership with ATOM Accelerator aimed at simplifying the process of accessing interchain finance within the Cosmos ecosystem. Through this collaboration, individuals worldwide can now utilize conventional payment methods to purchase ATOM and stATOM across three new chains.
Other Highlights of the Week
Prosecutors are seeking a 50-year jail term for SBF, proposing a near-life sentence of 40-50 years. Conversely, SBF's defense is requesting a 6-year term. The final sentencing decision will be announced on March 28th.
Binance's venture capital and incubation arm, Binance Labs, with a value of $10 billion, has recently separated from the company and established itself as an independent entity.
This week, Elon Musk mentioned Dogecoin at the Tesla Giga factory in Berlin. He said, that in the future, Tesla could potentially accept Dogecoin as payment for its vehicles. Today Dogecoin is only accepted for purchasing Tesla merchandise.