Bitcoin Now 2nd Largest Commodity ETF Class In U.S.
ETH's Dencun Activation Went Wrong, dYdX Tops Uniswap in Volume, Blast Announces Airdrop
Welcome to Coinfeeds Daily Digest! The deployment of Ethereum's proto-danksharding Dencun upgrade on Goerli, which we covered yesterday, has gone wrong, making the mainnet upgrade uncertain. Regarding stablecoins, TrueUSD is working through its depegging crisis after USDC's brief depegging on Binance, and at the same time, Frax Finance (FRAX stablecoin) is gearing to launch an Ethereum rollup Fraxtal. In DeFi, dYdX has topped Uniswap in 24-hour DEX volume, becoming the leading platform. The controversial Blast has announced its airdrop after a testnet launch, and Pyth Network is integrating with SwissBorg for data feeds.
Market Update
News
Bitcoin Now 2nd Largest Commodity ETF Asset Class in US, Ahead of Silver
The digital currency is now recognized as the second largest commodity ETF in the United States, surpassing silver in terms of assets under management (AUM). This development is a clear indication of Bitcoin's growing acceptance and legitimacy as an investment asset. | Read More
Ethereum: Dencun Activation Goes Wrong, Mainnet Launch Uncertain
The Ethereum network, a leading platform for decentralized applications, has recently faced a significant setback with its latest upgrade attempt known as Dencun. The upgrade that’s crucial for the network's scalability and efficiency, encountered unexpected issues during its deployment on the Goerli testnet. | Read More
dYdX Tops Uniswap in DEX Volume
dYdX's recent surge to the top spot in the DEX market is a testament to its growing popularity among traders. With a staggering $757 million in daily trades, dYdX has not only surpassed Uniswap's $608 million but has also set a new benchmark for what a DEX can achieve in terms of trading volume. | Read More
BSV Blockchain Set for Teranode Overhaul
Teranode is not just an incremental update; it represents a comprehensive overhaul of the BSV Blockchain architecture. The focus is on vertical scaling, which involves improving the capacity of individual nodes to handle high volumes of transactions. | Read More
Stablecoins: TrueUSD Faces Depegging Crisis, Frax Prepares To Launch ETH Rollup
TrueUSD, a stablecoin that aims to maintain a 1:1 value with the US dollar, experienced a significant depegging, falling to under $0.97. While TrueUSD faces stability challenges, Frax Finance, known for its algorithmic stablecoin FRAX, is gearing up to launch a new Ethereum rollup called Fraxtal. | Read More
Blast Announces Airdrop Following Testnet Launch
The Ethereum layer-2 scaling network, Blast, has made headlines with the launch of its testnet and an enticing airdrop announcement. Despite facing initial controversy, Blast is now actively engaging with the developer community and users by offering them the chance to receive airdropped tokens. | Read More