This Week In Crypto 09.02.2024
Welcome to another edition of This Week in Crypto, your go-to source for the latest developments shaping the world of cryptocurrency and blockchain technology.
This week promises groundbreaking advancements and insightful revelations that you won’t want to overlook:
1- Ethereum’s Dencun Upgrade: March 13 Game-Changer
2- Spot Bitcoin ETF: Redefining Transparency in Trading
3- Pendle Nears $1B TVL: Embracing the DeFi Revolution
4- Crypto.com adds zkEVM
1- Ethereum’s Dencun Upgrade: March 13 Game-Changer
Ethereum is gearing up for a monumental shift with the Dencun upgrade, scheduled to go live on March 13. This upgrade isn’t just about tweaking a few lines of code; it’s a game-changer for Ethereum’s scalability and affordability. Proto-danksharding and blobs are the stars of the show, designed to slash transaction costs on Ethereum layer 2s. By implementing blob-carrying transactions and limiting each block to 16 blobs, Ethereum aims to add a whopping 2 megabytes of block space. This upgrade, a fusion of Cancun and Deneb upgrades, could potentially reduce rollup costs by up to 10 times, according to Philippe Schommers, head of infrastructure at Gnosis. Vitalik Buterin emphasizes on scaling infrastructure highlights the urgent need for affordable transactions, making the successful implementation of Dencun a potential game-changer for Ethereum’s ecosystem.
2- Spot Bitcoin ETF: Redefining Transparency in Trading
Spot Bitcoin ETFs are revolutionizing transparency in the trading world. Led by Core Scientific founder Darin Feinstein, physically-backed Bitcoin ETFs offer a level of safety and accountability unmatched by traditional ETFs. Powered by the immutable ledger of the Bitcoin network, spot Bitcoin ETFs provide real-time verification of holdings, setting a new standard for transparent trading. With publicly released addresses holding the underlying BTC, investors enjoy unprecedented visibility into their investments. Despite initial concerns, spot Bitcoin ETFs offer a level of transparency and accountability that traditional instruments can’t match, signaling a seismic shift in the trading landscape.
3- Pendle Nears $1B TVL: Embracing the DeFi Revolution
Pendle nears $1 billion total value locked (TVL) mark. As interest in liquid restaking tokens skyrockets, Pendle expands its offerings to include support for the BNB chain and real-world assets (RWA). A trailblazer in Liquid Restaking Token finance (LRTFi), Pendle’s innovative approach allows users to speculate on EigenLayer yields and points, ushering in a new era of decentralized finance. The surge in Pendle’s growth underscores the burgeoning demand for DeFi solutions, offering users unparalleled opportunities to engage in the burgeoning digital economy.
4 — Crypto.com adds MXC zkEVM
This week, Crypto.com announced the successful completion of the MXC Token Migration, enabling all MXC supporters, token holders, miners and users to fully utilize MXC’s Layer-3 for deposits and withdrawals with reduced fees on both the Crypto.com app and the exchange. All MXC tokens on ERC-20 have been seamlessly converted into MXC’s Layer-3 zkEVM network at a 1:1 ratio. This adds improved usage and coverage of MXC to the global market, a great boost for our zkEVM network coverage.
As you immerse yourself in these transformative narratives, remember to stay vigilant and informed. Keep a keen eye out for next week’s installment, where we’ll continue to unveil the latest insights and breakthroughs from the ever-evolving world of crypto.
Stay informed, stay empowered, and stay ahead of the curve with our exclusive coverage of This Week in Crypto!
