Weekly Market Highlights - Airdrop Season Resumes
21 June 2024
Macro/TradFi
Australia’s largest stock exchange, ASX, has approved its first spot Bitcoin ETF.
MicroStrategy has bought an additional 11,931 bitcoin for US$786M, at an average price of $65,883 per bitcoin.
Crypto
L1/L2:
ConsenSys has announced that the Securities and Exchange Commission has closed its investigation into Ethereum 2.0.
The TON blockchain has hit a record high of more than US$600M in TVL, with numerous protocols experiencing significant growth over the past week.
Following its airdrop earlier in the week, the 7-day moving average of active addresses on zkSync Era has risen steadily through the week. However, the metric remains far below its peak of 464.8K addresses on Jan 25, compared to 261.7K on Jun 16.
Blast L2 has announced plans for a token airdrop for users on Jun 26.
DeFi:
The number of traders on Base DEXes has continued to rise, reaching a record high of 267K daily active users on June 17.
Decentralized derivatives protocol SynFutures has announced that it will be expanding to Base.
Stablecoins:
According to data by Tagus Capital, stablecoin issuers are now the world's 18th largest holders of U.S. debt, holding more than US$120B in U.S. Treasury notes.
Gaming
Ronin, the gaming-focused blockchain, has announced plans to introduce Ronin zkEVM, which would allow builders to launch their own L2s on top of Ronin mainnet.
Others:
The second phase of the Season 1 EIGEN stakedrop is live, bringing the total Season 1 distribution to about 113 million EIGEN. This represents 6.7% of the 15% of the total EIGEN supply set aside for stakedrops.
LayerZero Foundation has announced the airdrop of its native token ZRO. Recipients have to donate 10 cents worth of ETH or stablecoin for each token they wish to claim.
Global credit rating agency Moody’s Ratings has issued an “A-bf” rating to Hill Lights International Limited, the entity responsible for issuing OpenEden’s tokenized U.S. Treasury bills, TBILL.
Tether has announced the launch of Alloy by Tether, an open platform that allows the creation of different assets with broader backing mechanics. The first token to be launched is aUSD₮, which is designed to track the value of one US dollar and over-collateralized by Tether Gold (XAU₮).
Deutsche Telekom, the parent company of T-Mobile, has announced plans to mine Bitcoin.
Blockchain security firm CertiK said that they identified a series of critical vulnerabilities in Kraken’s deposit system. This follows Kraken’s disclosure that nearly US$3M was exploited in a bug that has now been fixed.
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Breakthrough DeFi Markets
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