Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
Highlights 🧵:
1/ In February, the monthly DeFi derivatives volume reached an all-time high of US$208B, nearly double the highest monthly derivatives volume recorded during the bull market of 2021. This indicates significant growth in DeFi derivatives infrastructure over the years, with more users trading on-chain. The surge in volume can also be attributed to increased speculative activity due to the market resurgence and volume farming activities across derivatives protocols like Aevo, Hyperliquid, and others.
2/ Noteworthy headlines include the Ethereum Foundation announcing the activation of the Dencun Upgrade on March 13th. Telegram also announced that it will begin sharing advertising revenue with channel owners through the TON blockchain starting in March. Channel owners are set to receive 50% of the ad revenue, with payments settled on the TON blockchain.
3/ VanEck launched SegMint, an NFT marketplace and digital assets platform initially focusing on users in Europe and Asia, excluding U.S. citizens. Blast, an Ethereum Layer 2 solution that attracted over US$2B in deposits, also launched its Mainnet.
Check out our latest publications from this week 🔎: Scaling Blockchains: Embracing Modularity