Top Story: ETH/BTC Ratio Takes a Dive
In a notable movement, the ETH/BTC ratio has slipped to a 15-month low, sitting at 0.0575. Despite the launch of ETH futures ETF, market sentiment didn’t quite get the boost some were hoping for.
Traditional Finance (TradFi) Mingles with Blockchain
J.P. Morgan Leaps into Blockchain: With its Tokenized Collateral Network now live, clients can use tokenized assets as collateral.
Fidelity's Two Cents on Bitcoin: A new report suggests investors peek at Bitcoin through a different lens compared to other digital assets, highlighting its security and decentralized nature.
European Securities and Markets Authority (ESMA) on DeFi: Not one, but two articles discuss the developments, risks, and categorization methodology related to Decentralized Finance (DeFi) in the EU market.
On the Crypto Front
L1/L2 Updates:
Scroll Emerges Quietly: Despite no official word, on-chain analytics suggest the zkEVM-based L2 blockchain has launched on mainnet.
Solana Embraces Privacy: The latest update provides native support for private transactions through “Confidential Transfers.”
Polygon Labs Proposes "ApeChain": To support ApeCoin growth, the co-founder pitches a L2 solution using the Polygon Chain Development Kit.
Initia Unveils: Emerging from stealth mode, this Layer 1 project on Cosmos has secured pre-seed investment from Binance Labs.
DeFi Highlights:
Uniswap Labs and TWAMM Hook: Aiming for better pricing in swaps by breaking large orders into smaller, timed executions.
Untangled Finance Goes Live: Bringing traditional private credit markets to blockchains via tokenization, now available on the Celo network.
Lido Finance Slashing Penalty: Faced with an estimated 20 ETH penalty due to configuration issues.
Platypus Finance's Unfortunate Loss: A flash loan exploit cost over US$2M in assets.
Stablecoin Snippets:
Frax Finance Launches sFRAX: A staking vault where users can stake FRAX to earn yields from real-world assets.
Circle Introduces USDC on Ethereum L2 Polygon.
Reserve, a decentralized stablecoin protocol, has launched on the Base L2.
Real USD Faces Issues: After a surge of redemption requests, USDR has depegged and is focusing on compensating users.
More Updates:
- Farcaster, a New Social Network: now welcomes sign-ups.
- Trezor Releases: The hardware wallet provider drops three new self-custody products.
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About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
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