Coins.ph Trade Desk Reaches P8 Billion in Total Volume
Coins.ph has announced that its Trade Desk platform has facilitated over P8 billion in total trading volume in January 2024 alone. The Trade Desk platform caters to institutional and high-net-worth individuals, offering a range of services such as over-the-counter (OTC) trading and market insights. This milestone reflects the growing adoption of cryptocurrencies in the Philippines and the increasing demand for professional trading services in the region. Coins.ph continues to expand its offerings and services to meet the needs of its growing customer base. (BitPinas)
Bitcoin NFT Sales Overtake Ethereum on Spike in Ordinal-Based Collections
Bitcoin's NFT sales have surged past Ethereum's in the week, primarily fueled by the success of Bitcoin Ordinals-based NFT collections like NodeMonkes. This development marks a significant milestone for Bitcoin, traditionally known more for its role as a store of value rather than for NFTs. NodeMonkes, an NFT collection inspired by the popular Bored Ape Yacht Club, has contributed substantially to this surge in Bitcoin NFT sales, showcasing the growing interest in Bitcoin-based NFTs. This shift also reflects the broader trend of diversification within the NFT market, with collectors exploring different blockchains beyond Ethereum for unique and valuable NFTs. (Cointelegraph)
Memecoins Thrive as Crypto Market Cap Exceeds $2.5 Trillion
With the cryptocurrency market cap surpassing $2.5 trillion, several memecoins are emerging as notable winners. Memecoins such as $SHIB, $DOGE, and $PEPE have seen significant gains, reflecting the growing interest in these meme-inspired tokens. This surge in memecoin prices has contributed to the overall growth of the crypto market and highlights the influence of retail investors in driving market trends. However, the rapid rise of memecoins also raises concerns about the sustainability of their growth and the potential risks for investors. (BeInCrypto)
Philippines Dominates Airdrop for Web3 Game Pixels
Filipino players have dominated an airdrop campaign for the web3 game Pixels, showcasing their strong engagement and interest in blockchain-based gaming. The airdrop aimed to distribute free NFTs to participants who completed specific tasks. The overwhelming participation from the Philippines highlights the country's growing presence in the global blockchain gaming community. This success underscores the potential for blockchain technology to drive adoption and engagement in the gaming sector in the Philippines. (BitPinas)
Ethereum Gas Fees Poised to Drop on Layer 2 Solutions
Ethereum gas fees are likely to see a significant reduction on Layer 2 scaling solutions such as Arbitrum, Polygon, and StarkNet, as a result of Ethereum's upcoming Dencun upgrade. This drop in fees is a result of optimizations and improvements in the gas fee market on these Layer 2 platforms. Users can expect to benefit from lower transaction costs, which will make using Ethereum more affordable and accessible. These developments are crucial for Ethereum's scalability and usability, especially as the network prepares for the transition to Ethereum 2.0 and aims to address its scalability challenges. (CoinDesk)
Solana Rises as Dogewifhat Emerges as Top Memecoin, Flipping Bonk
Solana has surged in popularity, becoming a prominent blockchain network as the memecoin Dogewifhat overtakes Bonk to claim the top spot. Dogewifhat, inspired by a famous Doge meme with a person wearing a hat, has seen a massive increase in value, attracting attention within the crypto community. This development highlights the unpredictable and fast-paced nature of the cryptocurrency market, where memecoins can quickly gain traction and challenge established projects. (Decrypt)
DeFi Total Value Locked (TVL) Surpasses $100 Billion Milestone
The Total Value Locked (TVL) in decentralized finance (DeFi) protocols has surpassed $100 billion, marking a significant milestone since May 2022. This resurgence in TVL reflects a renewed interest and confidence in the DeFi ecosystem, despite previous market downturns and regulatory uncertainties. The milestone highlights the resilience and adaptability of DeFi protocols, which continue to attract significant capital deployment and user activity. The achievement also suggests a maturing DeFi sector, as protocols evolve and innovate to meet the changing demands of users and market conditions. (The Block)
Arbitrum to Unlock $2 Billion in Tokens, Boosting Network Liquidity
Arbitrum, a layer 2 scaling solution for Ethereum, is preparing to unlock around $2 billion worth of tokens in March. These tokens have been locked since the network's launch and will become accessible for trading and transfers, significantly increasing liquidity on the Arbitrum network. The unlock is expected to benefit users by providing more flexibility in managing their assets and engaging in decentralized finance (DeFi) activities. This move is part of Arbitrum's strategy to strengthen its ecosystem and further establish itself as a key player in the Ethereum scaling space. (Crypto Briefing)
CryptoPunk Sells for $16 Million, Becoming Second Most Expensive Ever
A CryptoPunk NFT has been sold for 4,500 ETH, equivalent to over $16 million, making it the second most expensive CryptoPunk ever sold. The NFT, known as CryptoPunk #9977, features a rare alien with a medical mask and is considered highly valuable in the NFT market. This sale underscores the continued popularity and value of CryptoPunks, one of the pioneering NFT collections on the Ethereum blockchain. The transaction highlights the growing interest in NFTs as digital assets with significant value and collectible appeal. (The Block)
Major Crypto Gaming Tokens Launched in 2024
Several major cryptocurrency gaming tokens have been launched in 2024, indicating the continued growth and development of the crypto gaming sector. These tokens include $PORTAL, $PIXEL, and $XAI, among others. The launch of these tokens underscores the increasing integration of blockchain technology and cryptocurrencies in the gaming industry, offering new opportunities for players and developers alike. The success of these tokens highlights the growing popularity of crypto gaming and its potential to revolutionize the gaming landscape. (Decrypt)
EigenLayer Surpasses Aave in Total Value Locked (TVL) in DeFi Milestone
EigenLayer, a decentralized finance (DeFi) protocol, has achieved a significant milestone by surpassing Aave in Total Value Locked (TVL). This milestone highlights EigenLayer's growing popularity and success in attracting users and locking in assets. The achievement underscores the competitive nature of the DeFi sector, where protocols constantly innovate and compete for user attention and capital. EigenLayer's ability to overtake a well-established DeFi protocol like Aave demonstrates its strong value proposition and appeal to DeFi users, showcasing the dynamic and rapidly evolving nature of the DeFi landscape. (Blockworks)
Stacks Network Enhances Security and Capacity with New Signers
The Stacks network, known for its integration with Bitcoin to enable smart contracts, has recently welcomed several new signers. The addition of new signers not only enhances the network's security and decentralization but also increases its capacity to process transactions and execute smart contracts more efficiently. This expansion comes at a pivotal time when decentralized finance (DeFi) and decentralized applications (dApps) are gaining traction, highlighting the importance of robust and scalable infrastructure in the blockchain ecosystem. (Crypto Briefing)
Blast Mainnet Launch Unlocks $2.3 Billion in Staked Crypto
Blast has launched its Ethereum Layer 2 mainnet, unlocking approximately $2.3 billion in staked cryptocurrency assets. Blast is a decentralized protocol that aims to provide liquidity for staked assets on various blockchains. The launch of the Blast mainnet is expected to enhance the liquidity of staked assets and provide more opportunities for users to earn rewards. The unlocking of staked crypto assets marks a significant milestone for the Blast protocol and its efforts to improve the DeFi ecosystem. (Cointelegraph)
