Weekly Market Highlights - Jito Launch Sparks Airdrop Fever

Macro/TradFi Itau Unibanco, Brazil’s largest bank, announced the launch of a crypto trading service. Initial trading will be restricted to $BTC and $ETH, with more tokens to be added in the future.  Société Générale, the third-largest bank in France, has launched a euro-pegged stablecoin ($EURCV).  El Salvador has kickstarted its Freedom VISA program which offers residency to a maximum of 1,000 people per year who invest at least US$1M in Bitcoin or USDT. Crypto Web3 infrastructure provider, Ankr, has launched a rollup-as-a-service (“RaaS”) for ZK Stack Hyperchains on testnet. This is the first RaaS platform aimed at zkSync’s ZK Stack, with most existing providers having focussed on OP Stack / Arbitrum Nitro.  $BONK flipped $PEPE to become the third-largest memecoin after $DOGE and $SHIB.  DeFi Jito Network, a leading Solana dApp which combines MEV with liquid staking, launched its $JTO token, via a 100M token airdrop.  LayerZero has announced that they will aim to launch their token within the first half of 2024.  Binance Web3 wallet has integrated five new networks - Bitcoin, Sei, Bitcoin Cash, Dogecoin, and Litecoin.  EigenLayer is set to add 6 new liquid staking tokens (“LSTs”), including Binance’s WBETH, for staking and will also expand the size of their existing pools from 100K $ETH to 200K $ETH. Safe (formerly Gnosis Safe) has partnered with Sygnum Bank and Coincover to launch an optional crypto recovery service, offering options from self-custodial to custodial and social recovery. Others Sotheby’s is having their inaugural Bitcoin Ordinals sale, featuring the Bitcoin Shrooms collection.  Ronin has partnered with Impossible Finance to launch the Ronin Launchpad, providing infrastructure for web3 game launches. Babylon has raised US$18M in a Series A round to build their Bitcoin Staking protocol, aiming to help proof-of-stake chains with their crypto-economic security.  Crypto data platform, Shadow, has raised a US$9M seed round. Using “shadow forks”, Shadow provides private execution environments to aid L1 development. Sindri, a zero-knowledge infrastructure platform, has raised US$5M in a seed round.  Curvance, a decentralized stablecoin lending protocol, has raised a US$3.6M seed round. Latest Binance Research Publications  Check out our latest publications: Are We Entering a Bull Market? 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