🐵Bored Ape NFTs Tumble To 18-Month Low

GM Defiers!

In today's newsletter, we start by looking at how the Bored Ape Yacht Club (BAYC) community is dealing with a protracted downtrend. Meanwhile, Matter Labs has unveiled its 'ZK Stack', a customizable tech stack that promises to further facilitate the creation of Layer 2 and Layer 3 networks on Ethereum.

In the realm of stablecoins, short positions on TUSD have been rising amid concerns about its dollar peg. And on the legal frontier, a U.S. court has ruled in favor of Hermes in a landmark case, setting a precedent for copyright violations related to NFTs.

✍️ In today’s newsletter:

BAYC community looks for ways to reverse downtrend
zkSync open-sources ZK Stack
DeFi traders are shorting TUSD
Court sides with Hermes in MetaBirkin case

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