News summarizing the blockchain & cryptocurrency market – May 3
Eclipse integrates Neon Stack, bringing EVM to Solana
Eclipse integrates Neon Stack, linking EVM and SVM on Solana. This is a significant step forward in creating cross-platform compatibility and expanding the scope for developers. Eclipse provides a high-performance and scalable dApp development environment. The partnership between Neon Stack and Eclipse provides an ideal environment to create high-quality applications that take full advantage of the power of Ethereum and Solana. Neon EVM allows building Ethereum dApps on Solana, while Eclipse is a fast layer-2 scaling layer on Ethereum. Overall, this combination opens up a lot of potential for cross-platform blockchain application development and takes advantage of Ethereum and Solana.
Inflow of Hong Kong ETFs is not enough to absorb selling pressure from the US market
Recently, Hong Kong opened Bitcoin and Ethereum ETF trading, attracting an inflow of up to 217 million USD. However, the trading volume of crypto funds in Hong Kong is much lower than in the US, reaching only 21.15 million USD in the first two days. Experts believe that Hong Kong ETFs may have already purchased assets to prepare for investor demand. In contrast, the US recorded a record amount of withdrawals from Bitcoin ETFs of more than half a billion USD. Although trading volume and inflow in Hong Kong are lower, experts believe this is a positive step forward for the Asian market.
Pantera Capital invests in The Open Network (TON)
Pantera Capital, a crypto venture capital fund, has invested in The Open Network (TON), a Layer-1 blockchain network. The investment amount was not disclosed. TON was originally Telegram Open Network and has faced legal issues from the SEC. After that, the project was transferred to another developer and renamed The Open Network. TON has made a lot of progress and attracted attention, including the integration of stablecoin USDT and the possibility of a public share issuance. TON price has increased following this news. Pantera Capital is also investing strongly and plans to mobilize $1 billion for the new fund. This will be the largest fund in the crypto industry starting in 2022.
