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⬆️Ether's Momentum Continues Despite Bitcoin Correction

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GM Defiers!

Ethereum continued to rally into new year-to-date highs despite Bitcoin suffering a violent pull-back from its all-time high yesterday. ETH tagged $3,900, its highest level since December 2021, while BTC rebounded from $60,860 to $67,150.

In other news, Arbitrum Nova is dominating Layer 2 throughput despite ranking 22nd by TVL. Nova has processed an average of more than 44 transactions per second for ten days straight amid booming activity on native DePIN and GameFi projects.

Plus, the Fantom Foundation is gearing up to pursue liquidation proceedings against Mulitchain after being handed a default judgment against the cross-chain bridge’s foundation.

✍️ In today’s newsletter:

  • Bulls push ETH’s price to highest level since December 2021
  • Arbitrum Nova leads Layer 2 throughput with record 53 TPS
  • Fantom plans to petition court to liquidate Multichain Foundation

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📈 Markets in the last 24 hrs:

TickerValue24h
Bitcoin$63,187-7.33 %
Ethereum$3,488 -4.03 %
Gold 1st Future$2,134 0.75 %
S&P 5005078.65 -1.02 %
Arch Web32.70 -5.16 %
Learn more about Arch Indices ,[object Object]%

🎬 WATCH

Check out our guide to farming airdrops on Blast. Also watch our podcast with Guy Young, the founder Ethena Labs, to learn about its controversial high-yield stablecoin USDe.

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🚀 Ethereum Posts New 2024 High As Bitcoin Rebounds From Violent Pullback

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Traders continued to drive bullish momentum for Ether despite Bitcoin pulling back, with ETH tagging a more than 26-month high of $3,900. BTC has rebounded back to $67,150 after crashing below $61,000 after posting all-time highs yesterday, with spot Bitcoin ETFs hosting record trade volume and inflows amid the volatility.

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Stellar Brings Smart Contracts to Mainnet

On Feb. 20, Stellar network validators voted to upgrade Mainnet to Protocol 20, kicking off a new era for the Stellar smart contracts tech stack, which delivers a secure, batteries-included developer experience built to scale and for real-world use.

Getting to this moment has been an incredible journey. For the last two years, the Stellar Development Foundation (SDF) and the Stellar community have discussed, designed, and built new functionality transforming the Stellar network. Join the developers and projects that are building next generation everyday financial services on Stellar.

Learn more about Soroban smart contracts on Stellar

READ MORE: Smart Contracts Are Live on Stellar Mainnet

Arbitrum Nova Dominates L2 Throughput Amid DePIN and GameFi Surge

Arbitrum Nova hosted record throughput of 53.2 transactions per second (TPS) after processing more than 44 TPS for ten consecutive days. Nova accounted for between one-third and half of combined Layer 2 throughput over the same period. The milestone was propelled by surging activity surrounding Nova-native GameFi projects and the GPU mining-powered machine-learning protocol, Arbius.

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⚖️ Fantom Foundation To Pursue Multichain's Liquidation After Winning Default Judgment

A Singaporean court handed Fantom Foundation a default judgment against Multichain concerning the nine-figure exploit suffered by the cross-chain bridge last year. Fantom expects Multichain won’t honor damages assessed by the court and is planning to pursue liquidation proceedings against Multichain Foundation on behalf of all affected users.

🌍 ELSEWHERE

  • Avalanche releases Durango upgrade, unveils 'Teleporter' to boost subnet interoperability (The Block)
  • MicroStrategy Upsizes Convertible Debt Offering to $700M to Buy Even More Bitcoin (CoinDesk)
  • Hut 8 Shuts Down Alberta Bitcoin Mine Amid Energy Crisis (CoinGape)

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