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πŸ¦ŽπŸš€ A badly timed post from Vitalik, or is it? πŸ€”

Don't miss out on the juiciest news in the crypto space! Stay in the loop to ensure that you receive our latest newsletters, right in your inbox!

Did you manage to catch the dip, Geckos?
   

Are we done with the selloff, or is there more pain on the way?

 

In today's news:
 

  • Vitalik's master plan for L2s πŸ—Ί️

  • Guess who's back? πŸ…

 

Read on!

24h Hot Searches Worldwide πŸ”₯

  • AIT Protocol        (+22.5%)

  • Solidus Ai Tech    (+6.0%)

  • StrikeX                 (+16.3%)

  • Moca Coin            (-1.0%)

  • Neiro                   (+50.0%)

  • Qubic                    (+1.6%)

  • Toncoin                (+4.3%)

Metaverse Land Prices

  

Metaverse land used to be all the hype in 2021 and 2022. How do they fare today? Read more to find out.

Vitalik's master plan for L2s πŸ—Ί️

 

Amidst the carnage that went on in the crypto markets, Ethereum's creator Vitalik Buterin shared his outline for improving compatibility between the network's many L2 solutions.
 

Responding to a query on the most promising paths towards that goal, Buterin highlighted several important Ethereum Improvement Proposals (EIPs) and features in the roadmap to achieving cross-L2 interoperability.

 

Among these is EIP-3370, which includes a new standard for wallet addresses, making it easier to display specific addresses from different chains with human-readable prefixes.
 
Another proposal included in the roadmap is EIP-7683, which aims to standardise communication and trade execution between different L2s.
 
Notably, the improvements will also feature 'L2 light clients', to standardise the interaction between Ethereum contracts and off-chain data.
 
As outlined in EIP-3668, the light clients will make it more efficient for developers to access and store large amounts of data, with lower storage costs.

 
Editor's Note:

Although L2s are fast and cheaper to use compared to the Ethereum mainnet, there are just so many of them to the point that liquidity and dApps are often too fragmented between the various L2 ecosystems. This makes it more confusing and deteriorates the crypto onboarding experience for new users. Unifying these different L2s under a common format will dramatically make it much easier for users to navigate between dApps, without worrying about which network they have to use.

 

Catch up on the most important developments of the crypto markets from April to June 2024!

Guess who's back? πŸ…

  

Caitlyn Jenner is back with a new token!

 

Her new project will allow users to own tokenized fragments of the Olympic gold medal that she won in 1976.

 

The medal will be stored on-chain in a secured digital vault as an NFT on the Base Layer 2.

 

The NFT will then be fractionalized into an ERC-20 token known as MEDAL, with a total supply of 100M.
 
According to Jenner, there will be a fair launch for the token on Thursday with no initial launch price.
 
Jenner has also made it clear that the project will also include holders of her first memecoin project, JENNER.
 

However, the price of JENNER has dropped by 37.5% from $0.0012 to $0.00075 today since the project's announcement.

   

Learn about Mint, the Layer 2 network focusing on the NFT ecosystem, and find out how you can participate in the Mint Expedition and complete tasks to potentially qualify for a future token airdrop.

In Other News...

 

  • What Is the US Carry Trade? The US carry trade involves borrowing the Japanese Yen to buy US equities and has been the main culprit for Monday's market crash. Following the Bank of Japan's interest rate hike, which ended the 0% borrowing rate, investors rapidly unwound their Yen-leveraged positions, contributing to market turmoil.

     

  • European Hedge Fund Reveals Large Bitcoin Holdings. London-based Capula Management amassed over $420M of Bitcoin through Fidelity & Blackrock's Bitcoin ETFs, highlighting Bitcoin's increasing institutional acceptance.
     

  • Zircuit Launches Mainet Phase 1, Airdrop Claims Live. Zircuit, an EVM ZK-rollup with over $2B in staked assets, has launched Mainnet Phase 1. Users can now bridge their staked assets to Zircuit's mainnet and claim their airdrop. Note that tokens will be un-transferable until a later date.
     

  • Over $350M in DeFi Liquidations. Data analytics firm Parsec Finance reports a record high in DeFi liquidations due to recent market instability, with Ethereum-collateralized positions being the most affected.
     

  • Bitcoin Bank Accounts Coming to the UK. Xapo Bank, now licensed, will offer interest-bearing Bitcoin and fiat accounts. Xapo will provide 1% interest on Bitcoin holdings with no lock-ups.
     

  • Not Truly On-chain. Kautuk Kundan, CEO of Stackr Labs, hacked into Atari's Base L2 Asteroids game to prove that it was not truly hosted on-chain. Kundan urges users to be sceptical of crypto games claiming they are on-chain.

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Whether you're a long-time subscriber or just passing by, do let us know if you like the changes and what we can improve on!

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