⬆️Market Momentum Continues For Ethereum Ecosystem
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GM Defiers!
ETH and many leading Ethereum ecosystem projects are continuing to post new local highs despite Bitcoin and many other top cryptocurrencies pulling back. The DeFi sector is also on a run, with the combined capitalization of DeFi tokens closing in on $100B for the first time since May 2022.
Plus, Uniswap’s UNI token is similarly surging after a proposal that could see its long-anticipated “fee-switch” activated, while Parcl is the latest Solana project to confirm an incoming airdrop.
✍️ In today’s newsletter:
- Ethereum ecosystem assets outperform
- UNI rallies on fee switch proposal
- Parcl users confirmed for April airdrop
📈 Markets in the last 24 hrs:
| Ticker | Value | 24h |
|---|---|
| Bitcoin | $51,7020.29 |
| Ethereum | $3,098 3.66 |
| Gold 1st Future | $2,039 0.94 |
| S&P 500 | 5088.80 0.03 |
| Arch Web | 32.57 0.56 |
| Learn more about Arch Indices |
🎬 WATCH
Check out our video examining projects at the forefront of the convergence between web3 and artificial intelligence. Also watch our podcast with Brendan Farmer, the co-founder of Polygon, to learn about the project’s vision and roadmap for scaling Ethereum.
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MARKETS
Ethereum Ecosystem Continues To Rally Into New Year-To-Date Highs
TLDR Many projects within the Ethereum ecosystem are continuing to post new highs for 2024 despite Bitcoin and other assets pulling back. ETH above $3,100, its highest level since April 2022, while prominent Layer 2s and sidechains in Mantle, Metis, and Gnosis posted triple-digit gains in recent months.
SO WHAT Ethereum’s continued bullish streak has helped to propel the DeFi sector to new multi-year highs, with both the combined capitalization and TVL of DeFi projects reaching heights last witnessed 22 months ago.
READ MORE: Ethereum Ecosystem Continues To Rally Into New Year-To-Date Highs
DEFI
UNI Soars 60% On Fee Switch Proposal
TLDR UNI is rallying in response to a governance proposal advocating for the activation of Uniswap’s long-anticipated fee-switch to the benefit of UNI stakers.
SO WHAT The price of UNI jumped 60% in a day in response to the news, with the token gaining 71% in two weeks to trade at its highest level since March 2022. The momentum positioned UNI as the second-strongest performing cryptocurrency of the past seven days
READ MORE: UNI Soars 60% On Fee Switch Proposal
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READ MORE: High Yield USD (hyUSD) - The Future of DeFi Savings
AIRDROPS
Parcl Announces Airdrop For DeFi Real Estate Traders
TLDR Parcl announced that it will launch a token and airdrop the asset to early adopters in May. The move follows speculation that the recent points campaigns from the decentralized real estate index exchange would culminate in a token generation event.
SO WHAT The move follows several high-profile airdrops bolstering the growth of the Solana ecosystem, with Jupiter, Jito, and Wen each dropping tokens to protocol users in recent months.
READ MORE: Parcl Announces Airdrop For DeFi Real Estate Traders
🔎 OUR REPORTERS ARE WATCHING
- Gearbox’s leveraged restaking pools quickly filled after cap increase
- IPFS deployments of Tornado Cash accused of leaking data
- Recently-leaked emails fuel speculation Hal Finney was main individual behind Satoshi Nakamoto pseudonym
🌍 ELSEWHERE
- Judge Approves Binance’s $4.3 Billion Settlement For Anti-Money Laundering, Sanctions Violations (Forbes)
- A $30 Billion RIA Platform Greenlights Just Four Spot Bitcoin ETFs (Bloomberg)
- US energy data agency to temporarily suspend bitcoin miner survey after lawsuit (Reuters)
🔥 TRENDING
- UNI Soars 60% On Fee Switch Proposal
- Starknet’s $2 Billion Airdrop Is Crypto’s Biggest Yet
- Burn Rate Surges Amid Spike In Ethereum On-Chain Activity
- Sam Altman-Backed Worldcoin Token Soars on Sora Launch
- FIL Rockets After Filecoin Integrates With Solana
- Ondo Brings Treasury-backed Stablecoin to Aptos
- Pudgy Penguins Announces Unstoppable Domains Partnership and Walmart Expansion
- Our Most Read Stories This Week: WLD Soars 40%, LINK & Telefonica Deal, ETH Rally
- StarkWare Revises Token Emission Schedule After Community Backlash
- Reddit Invested In Bitcoin and ETH: IPO Filing
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