The Defiant

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Vitalik Buterin said Ethereum must penetrate the mainstream within the next five years to prove it is ready for “real-world” use cases. Buterin pointed to stablecoins, social, and identity applications as key opportunities to drive adoption from new users.

In other news, Solana’s transaction fees are up by more than 10 times in two months, leading Layer 2s are preparing to deploy major upgrades, and Nim Network’s airdrop will distribute tokens to users from across the web3 gaming sector.

Plus, web3 industry advocates are readying to battle anti-crypto incumbents in Washington.

✍️ In today’s newsletter:

Vitalik on driving mainstream adoption for Ethereum
Solana tx fees soar 1,000%
Layer 2s work towards fresh upgrades
Nim targets web3 gamers with airdrop
Crypto rises to forefront amid 2024 election

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📈 Markets in the last 24 hrs:

	Ticker	Value	24h

Ticker	Value	24h
Bitcoin	$65,420	-3.54 %
Ethereum	$3,485	-0.87 %
Gold	1st Future$2,182 1.14	%
S&P 500	5241.53 0.32	%
Arch Web	32.93 0.65	%
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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👥 Vitalik Says Ethereum Must Achieve Mainstream Adoption Within Five Years

Vitalik Buterin, Ethereum’s chief scientist and co-founder, said the network’s “real-world” viability will be put to the test over the next half-decade. Buterin identified stablecoins, social, and identity protocols as opportunities for Ethereum to achieve mainstream adoption.

⬆️ Daily Transaction Fees On Solana Spike 1,000% Since January

The recent surge in Solana’s on-chain activity has driven up transaction fees by an astounding 11 times in two months, alongside a sizable uptick in network revenue. Soaring volume on Solana’s decentralized exchanges is the major driver behind the trend, with the value of monthly trades up more than 3,200% compared to two months ago.

🚢 Top Ethereum L2s Ready To Ship Major Upgrades

Leading Layer 2 networks are preparing to deploy significant upgrades in the coming months, with Starknet unveiling a new roadmap for 2024, Optimism readying to introduce fault proofs, and Polygon set to support EIP-4844. In other L2 news, Espresso closed a $28 million Series B round as it prepares to launch a fifth testnet deployment.

🎮 AI Gaming Blockchain Nim Network Launches Airdrop

Nim Network, a Dymension-based RollApp targeting the AI gaming sector, unveiled plans for its upcoming airdrop. Nim will distribute its token to users engaging with popular GameFi and NFT projects, including Pudgy Penguins, Parallel, and Pirate Nation.

🏛️ Crypto Advocates Prepare to Battle Washington's Anti-Crypto Army

Crypto has emerged at the forefront of political discourse as the 2024 U.S. election looms, with representatives from both sides of politics publicly stating their position on the no longer nascent sector. Both web3 advocates and critics are fighting to advance their agendas, with lobbyists taking aim at anti-crypto incumbents.

🌍 ELSEWHERE

U.S. SEC Asking for More Millions, Dozens of Lawyers to Beef Up Crypto Oversight (CoinDesk)
JPMorgan says bitcoin remains in 'overbought territory' despite recent correction (The Block)
CryptoPunks record another $16M NFT sale in March (Cointelegraph)