22 December 2023
Macro/TradFi
7RCC, a crypto asset manager, has applied to offer a spot Bitcoin ETF, joining a growing list of firms pursuing similar ETF applications ahead of the 10 January deadline.
Ripple has received approval from the Central Bank of Ireland to operate as a Virtual Asset Service Provider, allowing it to offer digital asset services in the European Economic Area under the forthcoming MiCA regulations.
Crypto
L1/L2:
In their latest bi-weekly meeting, Ethereum developers have tentatively scheduled January 17, 2024, for the first testnet deployment of the upcoming Dencun upgrade. The upgrade will first be applied to the Goerli testnet, then added to Sepolia on January 30 and Holesky on February 7.
Avail is partnering with StarkWare to introduce data availability solutions to StarkNet appchains. This data availability solution will be integrated into Starknet appchains utilizing Madara, a customizable sequencer.
Metis, the Ethereum Layer-2 scaling solution, has allocated 4.6M METIS tokens to the newly established Metis Ecosystem Development Fund, set to start disbursing grants in Q1 of 2024.
Polygon Labs has ceased contributions to its Edge platform, originally intended for creating custom Ethereum-compatible blockchain networks. This announcement reflects their shift towards the Polygon Chain Development Kit (“CDK”).
LayerZero, the cross-chain interoperability protocol, has announced their V2 iteration, which aims to maximize network throughput and liveness. It uses unified semantics and modular security to enhance developer experience.
Fuse Network unveils its plan to launch a ZK-powered Layer-2 in collaboration with Polygon Labs, utilizing Polygon CDK to advance Web3 payments.
dApps:
Phantom, a popular Web3 wallet on Solana, has expanded its capabilities to include trading and transfer of Bitcoin, Ordinals, and BRC-20 tokens.
Trezor, a crypto hardware wallet, has integrated support for Solana and Solana Program Library (“SPL”) tokens into their devices.
Immutable has launched its new wallet infrastructure called 'Immutable Passport'. This new system, applicable to five games and apps, allows users to create and recover their wallet using a Google, Apple or email account.
Ondo Finance, a real world asset protocol, has expanded its tokenized U.S. backed assets to the Solana blockchain and ecosystem applications.
Stablecoin:
Circle has launched its euro-backed stablecoin on Solana, joining Ethereum, Stellar, and Avalanche as the blockchains Circle is using for EURC.
Others:
Tap Protocol, an OrdFi enabling protocol for Bitcoin Ordinals, has raised US$4.2M in a funding round led by Sora Ventures, with plans to expand Bitcoin's capabilities in tokenization, gaming, and DeFi.
Marathon Digital plans to spend US$178.6M on two mining data centers to boost its capacity in preparation for the Bitcoin halving in 2024.
Latest Binance Research Publications
Check out our latest publications:
Technical Deep Dive: Parallel Execution
Exploring Tokenomics Models and Developments
A Primer on On-Chain Gaming
Explore our Binance Research website for more project and macro research reports and the Binance Legal website for latest updates and consultation responses.
For more frequent market updates and insights, follow us on Twitter @BinanceResearch.
Have a minute? Please share with us any feedback you may have via this form.
That’s a wrap!
Binance Research
Read more
https://research.binance.com/en/analysis
About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.
General Disclosure: This material is prepared by Binance Research and is not intended to be relied upon as a forecast or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities, cryptocurrencies or to adopt any investment strategy. The use of terminology and the views expressed are intended to promote understanding and the responsible development of the sector and should not be interpreted as definitive legal views or those of Binance. The opinions expressed are as of the date shown above and are the opinions of the writer, they may change as subsequent conditions vary. The information and opinions contained in this material are derived from proprietary and non-proprietary sources deemed by Binance Research to be reliable, are not necessarily all-inclusive and are not guaranteed as to accuracy. As such, no warranty of accuracy or reliability is given and no responsibility arising in any other way for errors and omissions (including responsibility to any person by reason of negligence) is accepted by Binance. This material may contain ’forward looking’ information that is not purely historical in nature. Such information may include, among other things, projections and forecasts. There is no guarantee that any forecasts made will come to pass. Reliance upon information in this material is at the sole discretion of the reader. This material is intended for information purposes only and does not constitute investment advice or an offer or solicitation to purchase or sell in any securities, cryptocurrencies or any investment strategy nor shall any securities or cryptocurrency be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the laws of such jurisdiction. Investment involves risks.
Miyuki
