Weekly update: Crypto Snapshot
Top-tier NFT series see sales surge
Trading volume for certain top NFT projects see a surge while the price of Ethereum remains below $1,300. These NFT series include web3 anime universe Azuki, Meebits, Yuga Labs-owned CryptoPunks, and anime-styled DigiGaikagu collections.
AAVE votes on listing Lido’s wstETH on its liquidity pool
Lending protocol AAVE introduced a new proposal that aims to add Lido Finance’s wrapped stETH, wstETH, to its V3 deployment. This proposal is mainly due to the success of their stETH reserves on AAVE V2 which holds $1.09 billion in deposits.
Avalanche DEX Trader Joe looks to expand on Arbitrum
The decentralized exchange (DEX) Trader Joe plans to deploy on Arbitrum with the aim to bring zero slippage trades and liquidity provisioning. This is the first time the DEX is expanding to another network asides from Avalanche, and the mainnet is expected to launch in early 2023.
BTC’s sideway trading sees altcoin gain momentum
The range-bound action in Bitcoin see traders avoiding large trades before the Federal Reserve’s rate hike decision on Dec. 14. This has seen tokens like $AXS, $TWT, and $TON seeing an upward trend on prices.
DWF Labs participates in seed funding round for NF3
DWF Labs supported the seed funding round of NF3, a community-first NFT swaps and financing marketplace. The new project aims to change the way peer-to-peer (P2P) NFT transactions are made, and the round closed with a funding of US$1.65 Million.
DeFi Sector Warms Under Crypto Winter Sun
The decentralized finance (DeFi) sector has seen an increase in activity following the volatile drawback in the markets, especially that of Ethereum Layer-2 solutions like Optimism and Arbitrum. Daily transactions on Arbitrum have jumped more than 480% from July 10, and Optimism’s has spiked more than 546% over the same period.
Teams consider Lightning Network for fiat transfers between EU and Africa
CoinCorner and Bitnob teamed up to create cross-border transactions across the continents of Europe and Africa to perform cross-border transactions. This involves transferring multiple fiat currencies via the Bitcoin Lightning Network, instead of relying on third-party facilitators.
Ethereum Teams confirm staked ether withdrawals next year
Ethereum’s core developers have confirmed that the next, highly-anticipated Shanghai upgrade will allow users to withdraw staked ETH, with the upgrade going live as early as March 2023. Developers have launched the Shandong testnet last month to explore and resolve potential bugs.
Cointelegraph Research shows Investors remain upbeat about the blockchain industry despite the downturn
Cointelegraph Research’s latest panel with top venture capitalists revealed that VCs think now is the best time to be investing in venture capital when the hype has died down. While Web3 is still a catch-all phrase, the speakers see it as an exciting space where it’s provoking entrepreneurs to be more creative.
Rural Kenya harnesses receive uninterrupted energy from hydropower used to mine BTC
Gridless Compute, a green energy initiative in Kenya. By using mini-grid hydropower energy generators it provides power to local families while using excess capacity to mine BTC, which is then used to pay for the excess energy and decreases energy cost for locals.
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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