BIT Blog

DWF Weekly: Crypto Snapshot

DWF Weekly: Crypto Snapshot
Brought to you by DWF Labs, the global digital asset market maker and multi-stage web3 investment firm.

Increased Memecoin Trading Leads To Surge On Base Network

Coinbase’s Layer-2 solution, Base, recently saw a surge in the volume of transactions being processed on the network, which is attributed to the introduction and trade of various memecoins. Over 276,000 transactions have been recorded, and memecoins like BALD and BASED have seen transaction requests surge thousands of times higher than usual. While the network launched earlier in July and no bridge is available yet, users can transfer assets via a portal proxy contract.

Lack Of Volatility In Bitcoin Prices May Indicate Repeat Of Bullish Breakout

Data from market charts indicate that the price of Bitcoin has been trading sideways recently, with the price volatility trading within a narrow range. But a repeated pattern of a bullish cross forming on the MACD indicator of the price of Bitcoin could result in a breakthrough to the upside. Market traders also indicate that the Bollinger Bands analysis is similar to the start of 2023 when the price of BTC went up in the first quarter.

Worldcoin Launch Cause Optimism To Overtake Arbitrum In Daily Transactions

Optimism, a Layer-2 scaling solution that uses Optimistic rollups to scale up transactions on Ethereum, recently overtook its competitor, Arbitrum, in terms of daily transactions logged. The former clocked a total of 944,000 daily transactions, while the latter clocked in at 660,000 transactions, This is mainly attributed to the launch of the Worldcoin project on Optimism where the team deployed user accounts on the Layer-2 network.

TRON Network Sees Jump In New Addresses And Transaction Fees, Says Tron DAO report

The Layer-1 blockchain Tron Network recently released the performance of the Tron network activity, and the blockchain has seen a significant increase in the number of new active users and increased fee revenue from transaction fees in the last quarter. In the last three months, the number of daily active addresses saw an increase of 13.6%; the amount of fees collected also increased by 51.1%, while the average daily transactions increased by 28.9%.

Pyth Network Integrates With Gelato’s Web3 Functions For More Accurate On-Chain Prices

Pyth Network, a specialized oracle network that focuses on providing precise, real-time financial data to smart contracts, has integrated the Web3 Function of the Gelato Protocol for real-time on-chain price updates. The Gelato Protocol allows developers to create automated smart contracts, and its Web3 Function helps connect smart contracts to off-chain data via decentralized cloud functions. Through the integration, developers can create custom oracles that automate data updates, which is done by fetching prices from Pyth and pushing them on-chain with smart contracts.

Flare Network Gets A Revamped Dashboard For Better Blockchain Tracking

Flare Network, an EVM-compatible Layer 1 blockchain that aims to provide decentralized access to high-integrity data, is due to receive an upgrade to its Epoch Dashboard to provide better data tracking on the blockchain, and an improved user experience on the dashboard. Implemented by Flarepedia, a community-driven information and ecosystem discovery hub, the changes will include an advanced overview of the rewards epoch, current market sentiments from the Flare community, and provider cards that present FTSO provider information more clearly.

Celo Partners With Social Platform TinyTap To Create Climate Change For Kids

Celo Network, which focuses on being carbon-negative and mobile-first in its blockchain approach, has teamed up with social platform TinyTap to educate young children about climate change on Open Campus, a decentralized protocol for educators. TinyTap encourages teachers and students to learn simultaneously by creating personalized learning apps for each other, and the partnership will spread the message of climate awareness amongst younger minds with an emphasis on sustainability and climate for future generations.

ImpactMarket Approves Loan To 81 Businesses In Microcredit Lending Initiative

ImpactMarket, a protocol that uses the blockchain to provide accessible blockchain-based financial services and tools to underprivileged people, recently released a report on the ongoing progress of its microcredit lending initiative in Liberia. Overall, the project has supported 81 businesses in the area with micro-loans totalling to US$43,900, and the loans provided will be used by local business owners in Liberia to support their entrepreneurial endeavors. The program also saw an increase in the number of female entrepreneurs seeking to expand their business with the loans.

LEND Finance Successfully Moves Onto LayerZero Network

LEND Finance, a  decentralized finance multi-chain lending platform, has successfully integrated with LayerZero which will enhance their goal of providing lending services across different blockchains. The latter, a  communication protocol that enables fast cross-chain transactions between blockchain networks, allows LEND Finance users to seamlessly lend or earn on any chain which let’s them tap into pools with better interest rates.The use of Ultra Light Nodes on LayerZero also allows lending across chains without the need for external bridges.

ARPA Network Inks Partnership with Chainup Cloud For More Robust Network

ARPA Network, a Layer-2 scaling solution that operates as a privacy-preserving computation network, has recently partnered with Chainup Cloud to augment the security and decentralization of the network further. As a professional blockchain validator in proof-of-stake networks, Chainup Cloud’s inclusion is expected to spread node operations further amongst validators, and the team’s expertise will also aid the development of multi-chain expansion.

Algorand Foundation Establishes Another Layer Of Governance For In-Depth Trust

The Algorand Foundation, a non-profit, community organization focused on protocol governance and development of the Algorand ecosystem, has launched a guide to explain its latest implementation of Gov and XGov for governance and voting. While anyone can participate in normal governance on the network, those applying to be xGovs are considered more trusted, and must have participated in at least one Governance Period, commit their rewards for 12 months, and vote in every single proposal. This added process aims to create an expert layer of governors who have a deep understanding of Algorand’s inner workings.

Symbiosis Taps Into zkEVM Compatibility With Linea Network Integration

Cross-chain engine and liquidity protocol Symbiosis recently completed its integration with the Linea Network, giving the platform and its users faster throughput and cheaper transaction fees. Developed by Consensys, Linea Network is an Ethereum Layer-2 solution that uses a unique zero-knowledge EVM-compatibility approach different from others like Optimistic rollups. With the integration, token swaps on Symbiosis are expected to become cheaper and user-friendly.

Jasmy Announces New Patented Feature That Provides More Secure Access

Jasmy, an Ethereum-based IoT platform that aims to develop secure data infrastructure,recently announced that it has developed a patented authentication technology that uses biometrics and random password generation for a more secure access. Dubbed the "Technology for Security Using a Second Key”, The module will use a patented key generation method to securely exchange public keys, and a novel film vein authentication will be part of the biometric access for a more secure accessibility.

Staynex Travel Platform Taps Into Chinese Market With Huawei Marketplace Integration

LABS Group, a blockchain-powered real estate digitization ecosystem that lets investors tap into tokenized assets, has partnered with Huawei to list their travel platform onto the Chinese marketplace. As a means to combine travel and Web3 technology together, the Staynex platform is powered by LABS Group and allows members to earn rewards on their vacation bookings by issuing NFT-based memberships that record rewards . The partnership is expected to provide Chinese travelers with a wider range of itinerary options to suit their lifestyles and budgets.

SPACE ID Brings Community Domain With 3.0 Upgrade

SPACE ID, a decentralized universal name service platform, has launched its SPACE ID 3.0 feature which will provide permissionless naming services for all Web3 communities. By opening the option of community-level domains in addition to the current individual decentralized domains on blockchains, it allows the domain name to be an expression of one's affiliation with a particular group and build upon the group identity of a brand.

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