DWF Weekly: Crypto Snapshot
Digital Assets Gain Popularity In France As Crypto Holders Increase by 18%
A recent study by the French branch of the accountancy corporation KPMG found that crypto awareness is on the rise in France with more people being aware of the asset and are adding it to their portfolio at the same time. A comparison between the previous and current survey showed that the number of participants who were aware increased by 10%, while the number of digital asset owners increased by 18%. On the same note, NFT adoption is also up in France.
Institutions Flocking To Futures Contracts For Ethereum Exposure Post-Shapella
Institutional players are moving to gain exposure to ETH through futures contracts with the number of active contracts increasing in the market. The Chicago Mercantile Exchange (CME) reports the number of active contracts rising by 39% since the Shapella upgrade with the open interest increasing by 70% to $633 million. In a similar manner, the open interest has also been hitting highs on centralized derivatives exchanges as well.
Ethereum Network Sees First Positive Net Staking Flow Since Shapella Upgrade
The Ethereum network has been experiencing a number of ether withdrawals since the Shapella upgrade allowed staked ether to be withdrawn, but the net staking amount turned positive for the first time with more deposits flowing in than out. The network is also burning ETH at a higher-than-usual burn rate with an estimated 11,600 ETH burned since April 19.
African Blockchain Businesses saw US$551M In Funding, Says CV Venture Fim Report
Early-stage venture capital firm CV VC recently released their African Blockchain Report which indicated that blockchain funding and growth on the continent continues to show steady growth. Despite a slight pullback due to the recent bear market, African blockchain businesses raised over US$551 million in megaround fundings with an explicit focus on building digital asset custody and exchange infrastructure that occupies 52% of all funding sourced.
Learning The ABCs Of Deep Learning Trends In Artificial Intelligence
As artificial intelligence (AI) becomes increasingly intertwined with the development of blockchain technology, a handful of emerging trends within the field of AI development have the potential to reinforce deep learning. These include federated learning, a machine learning approach that lets multiple devices collaborate on a single model without sharing data, and generative adversarial networks (GANs) which generate new data based on existing information.
TON DeFi Ecosystem Flourishes As TVL Jumps From $0.5M To $13.8M
The first quarter of 2023 has been an exciting period for the decentralized finance (DeFi) ecosystem on The Open Network. Thanks to the launch of key DeFi cornerstones such as decentralized exchanges and lending protocols on the network, the influx of digital assets into these projects have raised the locked value from half a million to $13.8 million, which is a tremendous 26-fold increase on the network. Other key DeFi projects such as bridges are currently in the works.
Zimbabwe Turns To Gold-Backed Digital Assets To Hedge Against Inflation
As Africa continues to see the growth and development of its blockchain businesses, the Reserve Bank of Zimbabwe is seeking to launch a gold-backed digital currency as legal tender to hedge the country’s currency against inflation pressures. The bank hopes to get its citizens to exchange the local currency for the electronic asset which will be backed by centralized gold reserves.
Web3 Veterans Share Their Tips To Build Crypto Projects Without The Hype
How can development teams build their blockchain and crypto projects when there is no hype during the lull of a downturn? According to long-term startup founders from the Celo Foundation and Unstoppable Domains, some tips to note include starting out with a lean team first, focusing on building utility into one’s products, and building a strong, adaptable model. As for DWF’s managing partner Andrei Grachev, his advice when he spoke to CEO Today is for projects to collaborate where possible to fill different niches and synergize their efforts.
The Open Network Celebrates Its Major Milestone Of 2.5 Million Accounts
After reaching its last milestone of 2 million accounts back in January 2023, The Open Network (TON) ecosystem popped the champagne yet again for its 2.5 million mark this week. This achievement translates to a growth of 25% on the network in a span of 3 months, an attestation to the increasing popularity and applicable use cases within the TON ecosystem.
Peer-To–Peer Trading Is The New Black With Fetch.ai’s Latest Suite Of Trading Tools
Liquidity pools are out and peer-to-peer trading is in as Fetch.ai launches its latest suite of artificial-intelligence based tools that execute trades between users for decentralized exchanges. Such exchanges usually require liquidity pools and automatic market makers to facilitate trades, but Fetch.ai’s solution is looking to push P2P solutions to make trades less vulnerable to hacks and interceptions.
An AI Application A Day Keeps The Doctor Away With OraiChain’s Latest Application
OraiChain, the world's first intelligent solution for decentralized apps (dApps) and artificial intelligence (AI), has launched an AI-powered application that allows its user to conduct remote health tracking. Dubbed BlockAI.Care by the OraiChain team, it functions as an all-in-one platform for health tracking and enables users with no medical experience to monitor their own health with their mobile devices. The platform is designed to be modular and users can purchase extra healthcare modules from marketplaces which makes AI healthcare applications more accessible to the public.
Radix Places Cross-Chain Interoperability In Its Sights With LayerZero Partnership
The public decentralized ledger Radix has partnered with cross-chain interoperability protocol LayerZero to integrate the latter’s functionality into the Radix Babylon network. By embarking on this project, Radix seeks to unlock accessibility to other blockchain networks that will allow decentralized apps (dApps) and digital assets on the Radix network to broaden the scope of features they can offer to their community.
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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