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⬆️L2 Activity Surges After Dencun
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GM Defiers!
Activity on Ethereum Layer 2s i surging as users take advantage of the cheap fees ushered in by last week’s Dencun upgrade. Transaction volume across leading L2s has doubled over the past seven days, with unique active wallets also spiking upwards.
Institutional investors are buying up BTC in spite of Bitcoin pulling back from last week’s all-time highs. Not every crypto asset is trending down, however, with several alternative Layer 1 networks posting double-digit gains for the past seven days.
Plus, BlackRock tapped Ethereum to launch a tokenized fund for institutional investors, and Immutable and Polygon labs teamed up to launch a $100 million blockchain gaming fund.
✍️ In today’s newsletter:
- Dencun drives activity surge on L2
- Institutions buy Bitcoin despite dip
- Layer 1s outperform amid crypto pullback
- BlackRock launches tokenized fund on Ethereum
- Immutable and Polygon’s $100M GameFi fund
🙏Sponsored
👇Recommended
- Check out our friends at Unchained Crypto
📈 Markets in the last 24 hrs:
Ticker | Value | 24h |
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Ticker | Value | 24h |
---|---|---|
Bitcoin | $62,373 | -7.88 % |
Ethereum | $3,193 | -9.44 % |
Gold | 1st Future$2,156 | -0.20 % |
S&P 500 | 5178.51 0.56 | % |
Arch Web | 32.63 | -9.48 % |
Learn more about Arch Indices ,[object Object] | % |
🎬 WATCH
Check out our video exploring Solana’s surging ecosystem. Also watch our podcast with Kevin Owocki, co-founder of Gitcoin, and Meg Lister, GM at Gitcoin Grants Labs, to learn about Gitcoin’s new roadmap.
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NEAR is the chain abstraction stack, empowering builders to create apps that scale to billions of users and across all blockchains.
🤸🏼♀️ Ethereum Layer 2 Adoption Trends High After Dencun Upgrade
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Last week’s Dencun upgrade precipitated a surge in Layer 2 activity, with leading L2s posting a triple-figure increase in transaction volume as users migrate to Layer 2 to take advantage of low fees. Transaction costs on Arbitrum, OP Mainnet, Base, and Starknet dropped by at least 96% following the activation of EIP-4844.
💼 Institutions Accumulate Bitcoin Despite Recent Market Volatility
Large entities continue to buy up Bitcoin despite BTC tumbling 12% from last week’s all-time highs. U.S.-based investment advisors and MicroStrategy are accumulating Bitcoin while Japan’s Government Pension Investment Fund is looking into adding BTC to its portfolio. Argentinians seeking relief from the country’s hellish hyperinflation are turning to Bitcoin once again as well.
📈 Layer 1s Outperform as Bitcoin Takes a Breather
Low-cost Layer 1 networks are trending up despite most cryptocurrencies crashing amid Bitcoin’s pullback. Solana, Aptos, and Fantom are each enjoying double-digit gains over the past seven days at a time when only 10 of the top 100 crypto assets are posting weekly gains greater than 1%.
SPONSORED POST
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SynFutures is seeing massive gains following its recent V3 launch. The trending DeFi project has attracted over 250,000 registrations, reaching $90 million in 24-hour trading volume just days after deploying on Blast mainnet.
The traction is attributed to SynFutures releasing an innovative new AMM model, oAMM, which combines a concentrated liquidity AMM with an onchain order book for higher capital efficiency. SynFutures also launched its new points program, Oyster Odyssey (OO), following confirmation of its plan to launch a token. In addition to earning points on OO, users can gain Blast and Blast Gold points for interacting with SynFutures V3, tripling the airdrop rewards potential and potentially drivingdrive increased speculation and growth.
Start trading on SynFutures V3.
READ MORE: SynFutures Launches Orderbook AMM and Points Program Ahead of Token Launch
🏦 BlackRock Tokenizes Fund for Accredited Investors on Ethereum Blockchain
BlackRock, the world’s largest asset manager, launched its USD Institutional Digital Liquidity Fund on Ethereum. On-chain data shows the tokenized fund went live two weeks ago, and is open to sophisticated traders with a minimum investment of $100,000.
🕹️ Immutable and Polygon Labs Unveil $100M Blockchain Gaming Fund
Immutable, Polygon Labs, and King River Capital have joined forces to launch a $100 million fund targeting the blockchain gaming sector. The fund will make “ecosystem-agnostic” investments across the space, with the market cap of GameFi tokens bouncing 170% since late October.
🌍 ELSEWHERE
- Robinhood Launches Crypto Wallet for Android Users (Watcher Guru)
- Montenegro Sticks to Handing Do Kwon to Korea, Snubbing US (Bloomberg)
- TON Foundation launches Toncoin community rewards initiative worth over $100 million (The Block)
🔥 TRENDING
- EtherFi Airdrop Announced For March 18
- Solana Memecoin BOME Hits $600 Million Market Cap In Less Than Two Days
- Solana Memecoin SLERF Accidentally Burns $10 Million
- Our Most Read Stories This Week: Dogwifhat Goes to Vegas, Retail is Coming , AI Tokens, Dencun Upgrade
- FTM Rockets As Fantom’s Sonic Upgrade Looms
- Tokenized Real Estate Project PropyKeys Announces Public Launch
- BlackRock Tokenizes Fund for Accredited Investors on Ethereum Blockchain
- Fidelity Adds Staking To Spot Ethereum ETF Application
- Layer 1s Outperform as Bitcoin Takes a Breather
- It’s Raining Runestones As Bitcoin Ordinals Project Launches Airdrop
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