CFTC Classifies Ethereum As Commodity
Algorand - First L1 To Natively Use Python, Ethereum 'Blobs' Enable Inscriptions, Arbitrum & Partners Launch AnimeChain
Welcome to Coinfeeds Daily Digest! Today we cover the CFTC and the SEC's definitions of some cryptocurrencies (Ethereum, Litecoin..) clashing after the CFTC classified Ether as a commodity. Algorand has launched a devkit called AlgoKit 2.0 that makes the project the first L1 to use Python natively, an Anime-based web3 network is being created in partnership between Arbitrum, Azuki, and Weeb3 Foundation, and Ethena is launching its ENA governance token next week. Furthermore, Ethereum's Dencun upgrade and the 'blobs' it's brought enabled inscriptions, which are now competing with Bitcoin Ordinals.
Market Update
News
CFTC Classifies Ethereum as Commodity, Clashing with SEC
The U.S. CFTC has taken a firm stance by classifying Ethereum and other cryptocurrencies as commodities. This decision has sparked a regulatory conflict with the SEC, which has traditionally viewed most cryptocurrencies, with the exception of Bitcoin, through a different lens. | Read More
Algorand Is First L1 To Use Python Natively With AlgoKit 2.0
The Algorand Foundation has unveiled AlgoKit 2.0, positioning Algorand as the pioneering Layer-1 blockchain to natively incorporate Python, a widely favored programming language among developers. By integrating Python support directly into AlgoKit 2.0, Algorand is tapping into a vast community of developers. | Read More
Arbitrum, Azuki, and Weeb3 Foundation Announce Anime-based Web3 Network
The Arbitrum Foundation, Azuki, and the Weeb3 Foundation have announced their collaboration to launch AnimeChain. This innovative project seeks to leverage the power of web3 technology to create a comprehensive and immersive experience for anime fans worldwide. With the anime market projected to exceed $60 billion by 2030, the potential for growth and innovation within this space is immense. | Read More
Ethereum 'Blobs' Inscriptions Rival Bitcoin Ordinals
Ethereum’s new feature, known as "blobs," allows users to create inscriptions directly on the Ethereum blockchain. The popularity of blob inscriptions has surged, with March 27, 2024, marking a historic day. On this day, there were 2,437 blob inscriptions, accounting for 22.8% of all blobs created, indicating the highest usage among Ethereum's Layer 2 solutions. | Read More
$1.3B Yield Protocol Ethena to Debut ENA Governance Token Next Week
Ethena, a protocol that has garnered attention for its innovative approach to yield-earning, is set to introduce its governance token, ENA, to the market. With a valuation soaring over $1.3 billion, Ethena's strategic move aims to further cement its position in the DeFi landscape by engaging its community and rewarding its users. | Read More