Ethereum Ecosystem Sees 9X User Surge Since 2020 as VanEck Forecasts $22K by 2030
The Ethereum ecosystem has witnessed a nearly ninefold increase in daily active users since 2020, fueled by the adoption of layer 2 solutions like Arbitrum and Polygon. VanEck analysts predict Ethereum's price to soar to $22,000 by 2030, citing growing demand from traditional financial markets and the imminent approval of spot Ether ETFs. Despite lower user numbers compared to layer 2 networks, Ethereum continues to dominate in fee generation, positioning it for significant growth in the years ahead. (Cointelegraph)
DICT Launches eGOVchain: Transforming Philippine Governance
The Department of Information and Communications Technology (DICT) unveiled eGOVchain, a blockchain initiative aimed at enhancing transparency and security in public transactions, positioning the Philippines as a potential pioneer in government blockchain adoption. eGOVchain is part of DICT's broader digitalization efforts, with plans to establish additional nodes in collaboration with the private sector, marking a significant step towards safeguarding sensitive government data and streamlining processes while reducing fraud. (BitPinas)
Paxos Launches Yield-Bearing Stablecoin USDL in Argentina
Paxos International introduces USDL, a yield-bearing stablecoin, initially available in Argentina, offering users about 5% yield on a daily basis. USDL, regulated by the FSRA of Abu Dhabi Global Market, is one-to-one backed with the U.S. dollar, emphasizing high-quality liquid assets. While not available in certain jurisdictions, Paxos envisions USDL as a tool to aid the unbanked and underbanked globally, targeting significant growth in the stablecoin market over the next five years. (The Block)
Notcoin's $1M Reward Announced
Notcoin grants $1M to pre-market traders as a reward for early investment, distributing 40 million NOT tokens to holders of the initial vouchers. The move comes amid Notcoin's recent surge in value, with the cryptocurrency's price more than tripling in recent weeks. Eligible users will receive approximately $170 worth of NOT tokens per voucher as a free crypto reward. (Decrypt)
Tether Fuels Financial Inclusion with $18.7M Investment in XREX
Tether's substantial investment in XREX Group aims to bolster crypto adoption and advance financial inclusion globally, with XREX poised to launch a stablecoin backed by Tether Gold, facilitating stable and secure cross-border payments. The collaboration also extends to regulatory technology development to combat illegal stablecoin usage, marking a significant step towards fostering responsible financial practices and enhancing global clearance and settlement systems. (Crypto Briefing)
Polygon Labs Boosts ZK Capabilities with Toposware Acquisition
Polygon Labs has acquired Toposware, a move aimed at accelerating the integration of zero-knowledge (ZK) technology and unifying Web3. This acquisition marks Polygon Labs' third major investment in ZK technology, following previous acquisitions of Hermez and Mir. The collaboration aims to advance Polygon's vision of a unified Web3 by leveraging Toposware's cryptography expertise and engineering skills to develop ZK-based solutions, including the Type 1 zkEVM prover and the AggLayer for seamless transactions between layer-1 blockchains. (Crypto Briefing)
Sotheby's 'Gold Fur' Auction Set to Test Art World
Sotheby's auctions Bored Ape NFTs, including gold-furred ones, in a test of art world demand for Ape-themed assets. The curated batch includes Ape #8552, once owned by crypto hedge fund Three Arrows Capital, and is expected to draw significant attention given the rarity and provenance of the NFTs. With only 46 of 10,000 Apes boasting gold fur traits, the auction presents a unique opportunity for collectors to acquire highly sought-after digital assets. (Decrypt)
