Ethereum Scaling Solution Starknet Sees Exponential Growth As L2 Race Heats Up

Ethereum scaling solution Starknet has seen an exponential growth in the development of its decentralized finance economy, as its total value locked jumps from $1.4 million to $10 million in two months. The network uses zero-knowledge rollups to scale up transactions while reducing fees on the Ethereum blockchain. While Starknet has seen positive progress, Layer-2 heavyweights like Arbitrum and Optimism currently still dominate the market.

Difference In Economies May Weaken Bitcoin-Ethereum Correlation Further

While the price movement of Ether has always followed that of Bitcoin’s closely, the migration of Ethereum from a PoW to PoS consensus could spell the start of a long-term regime change between both tokens. According to crypto provider Kaiko, the 30-day correlation between the prices of both assets stood at 77%, which is the lowest since 2021, and a sudden change from the 96% it was two months ago before the Shapella upgrade. The decoupling is seen as an opportunity as it may boost the trading activity of bitcoin-ether pairs.

New Bedrock Hard Fork Makes Optimism Community Optimistic

Layer-2 Ethereum scaling solution Optimism will be upgrading its network in early June with its Bedrock hard fork. The upgrade aims to make the network more modular by separating it into its different components while turning the withdrawal process into a two-part operation to enhance user security.  The upgrade is supposed to provide enhanced performance and functionality to Optimism, which is part of the foundation’s efforts to edge its way above its competitors such as Arbitrum.

Bitcoin Price Dip Post-FTX Boosted The Number Of Wallets With A Full Bitcoin

Data from on-chain tracker Glassnode showed that the dip in Bitcoin prices from the fallout of the FTX exchange collapse helped boost the total number of wallets holding one bitcoin by 79,000. Overall, a total of one million wallets now hold at least one BTC this month which suggest that the long-term sentiment for the digital asset remains unchanged within the crypto space. Despite the rising demand for BRC-20 tokens and ordinals in recent months, these two did not have as much of an impact in increasing the number of wallets holding one bitcoin.

Tokenized Physical Assets Take the Spotlight

Decentralized finance projects that manage tokenized real-world assets such as commodities and real estate are seeing an uptick in popularity and performing better than key tokens such as Bitcoin and Ethereum. But protocols that offer such securitization features aren’t reaping the most benefits; instead, debt market protocols like Centrifuge that allow such tokenized real-world assets to be used as collaterals are benefitting the most.

DWF Labs X AWS Startups Hack-A-TON Registration Starts This Week

DWF Labs is set to launch the next Hack-a-TON around The Open Network (TON) ecosystem in conjunction with AWS startups, with registrations to open on 27 May. AWS Startups is a program that gets new businesses and projects up to speed by providing the necessary resources and guides to do so. Registrants who take part in the upcoming hackathon will stand a chance to win prizes or gain funding from a 300k $TON token prize pool.

Liquid Staking Comes To TON Via DWF Lab’s Collaboration With Bemo

As the liquid staking market heats up, DWF Labs has successfully brought the staking service to The Open Network (TON) in collaboration with Bemo Finance. By staking TON tokens, Bemo users get stTON tokens in return which represents a portion of the total pool of TON staked. The liquid staking is the first of its kind in the TON ecosystem, and it allows holders to earn rewards while still maintaining full access to their funds on the platform.

More People Willing To Use DeFi Applications If It Is User-Friendly, Says Uniswap Survey

A survey conducted by Uniswap has indicated that improving the user experience and simplifying the process of using decentralized finance (DeFi) applications for non-crypto natives could bring more users into the DeFi space. The survey of 1,860 users which had a diverse mix of DeFi, CeFi, and non-crypto natives showed that almost 45% of those not in DeFi would be willing to experiment with dApps, but the complexity and high cost of transaction fees remain as potential barriers before widespread adoption begins.

Synthetix Welcomes The Addition Of Eight New Synthetic Assets on Its Perps Market

Synthetix, which offers users the ability to mint synthetic assets on the Ethereum blockchain, has added eight new assets after a proposal to add them onto the platform saw an overwhelming approval by the community. Two proposals to add the eight assets included tokens like PEPE, SUI, and FLOKI, and were passed on Saturday with most voting ‘yes’ on the proposals. This will open the markets for synthetic versions of the cryptocurrencies.

Marlin Protocol Teases Liquid Staking Function On The Network

Marlin Protocol, an open protocol that provides a high-performance programmable network infrastructure for decentralized finance (DeFi), recently teased the launch of liquid staking functions on its network with a short tweet. The service is slated to launch on 25th May based on the team’s tweet, and the network’s community is eager to learn more when the service launches.

Conflux Network Unveils First Blockchain-Based SIM Card In China

The Conflux network, a hybrid permissionless blockchain that uses a unique Tree-Graph consensus, unveiled its first blockchain SIM card with telecommunications giant China Telecom in Shanghai. Similar in appearance to a standard SIM card used in today’s mobile phones, it acts as a user identification card for each mobile. The novel product is compatible with mainstream mobile operating systems such as Android and iOS, and has a storage space 10-20 times larger than current SIM cards along with computing power a several dozen times greater. Thanks to the inclusion of digital signatures, the card also reduces the risk of virus software attacks.

Shop for Real Estate On The Blockchain With Bitgert’s Geo Property Marketplace

Crypto engineering platform Bitgert is seeking to revolutionize the buying and selling of real estate properties with the launch of its Geo Web3 Real Estate Marketplace. Their latest solution aims to replace traditional methods of selling property which are slow and cumbersome, and buyers can use their native $BRISE token to make the purchases. The marketplace is built on the Bitgert chain which allows users to experience faster and more secure transactions without having to worry about expensive administrative fees.

DWF Labs Receives Recognition As A Distinguished Market Maker From Gate.io

DWF Labs is honored to have been presented with an award from cryptocurrency exchange Gate.io for coming in third in its Global Market Maker Program (GMMC). The program is an initiative by the exchange to improve its spot and derivatives markets liquidity, and market makers that have high, frequent trades in large volumes qualify for the top spots on its different market leaderboards.

TON Unveils Plans For Decentralized Digital Identities With Mask Network Collaboration

The Open Network (TON) recently announced its latest collaborative efforts with the Mask Network to explore deeper integration and create decentralized digital identities solutions that can be shared across their combined communities. As a pioneer in the decentralized social network niche, Mask Network has been building decentralized social infrastructures and creative content since its inception, and the collaboration will bring its expertise into the TON ecosystem.

Disclaimer: This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.

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