Is the ETF Hype Over? 🧐
In today’s edition: 🛠️ dYdX chain resumes after outage, 🎣 Phishing ads on Etherscan, 📈 ENA hits new high, and more!
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Union is the first sovereign interoperability layer pioneering trustless bridging between appchains, L1s, and L2s without depending on trusted third parties, oracles, multi-signatures, or MPC. Looking to future-proof blockchain bridging, it is the only protocol that fully addresses the sovereign bridging trilemma, unlocking a horizontally-scaled future.
Polygon Labs CEO Marc Boiron and co-founder Brendan Farmer discussed everything about the AggLayer, a decentralized protocol built by Polygon that enables fast, secure cross-chain interactions and allows different chains to use the same native bridge. This allows users to seamlessly move assets across chains in the AggLayer ecosystem.
The AggLayer aims to unify blockspace so that it feels like a single chain, improving user experience. Boiron and Farmer also discussed the potential for Layer 2 solutions to scale Ethereum, the benefits of zero-knowledge technology, and the future of Polygon’s proof-of-stake chain.
Listen to the episode on Apple Podcasts, Spotify, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Michael Bodley, Sam Sriram and Juan Aranovich
ETF Hype Moderating Despite Record $13.8 Billion YTD Inflows to Crypto Funds: CoinShares
The appetite from investors for crypto ETFs appears to be moderating based on the pace of weekly inflows.
dYdX Chain Resumes After 9-Hour Halt During V4 Upgrade
The dYdX chain has resumed block production after a major outage that lasted nine hours and 32 minutes.
Phishing Ads Appear on Etherscan as Hackers Target ‘Trusted Institutions’
Reports of phishing attempts linked to ads on the top Ethereum blockchain explorer began surfacing on Sunday. It was unclear, however, whether any user funds were lost.
ENA Surges 20% to New All-Time High as Ethena Rolls Out Reward Boosts
Locking ENA tokens now yields a 50% boost in Ethena’s points program, which gives holders a chance to earn more points and could potentially result in larger airdrops.
Daily Bits…✍️✍️✍️
🏦 The Hong Kong subsidiaries of Chinese asset managers Harvest Fund and Southern Fund applied to launch spot bitcoin ETFs amid strict mainland restrictions.
🚀 HashKey Group from Hong Kong announced the HashKey Chain, an Ethereum Layer-2 solution employing zero knowledge-proof technology, planning testnet and mainnet launches within the next year, aiming to enhance scalability and developer engagement with its native token, HSK.
🔮 Ether options for end of April show a bullish sentiment, with a majority betting on price increases between $3,700 to $4,000.
💰 The Tensor Foundation introduced TNSR, a governance token for the Solana NFT marketplace, enhancing user participation in decision-making and offering transaction fee discounts.
⚙️ Ordinals founder Casey Rodarmor will launch Runes, a protocol for fungible tokens on Bitcoin's blockchain, coinciding with Bitcoin's halving.
📈 A MakerDAO's governance vote increased DAI's debt ceiling to $1 billion for deployment in USDe and sUSDe markets on Ethena via Morpho, $600 million was initially earmarked for these investments.
👮♂️ Core team members of the Filecoin staking service STFIL are under investigation by Chinese law enforcement, an “abnormal” movement of funds occurred while core members of the technical team were under detention.
🌐 Binance, under CEO Richard Teng, is evaluating several jurisdictions for its future headquarters, considering factors like product suite compatibility and tax agreements, moving towards a decision after a history of headquarters ambiguity.
Today in Crypto Adoption...
💳 1inch Network launched a Web3 debit card in collaboration with Mastercard and Baanx, enabling crypto-to-fiat transactions and ATM withdrawals.
The $$$ Corner…
💡 Polychain Capital boosted AI platform Ritual's funding round with a multimillion-dollar investment, to help the firm address centralization in AI development.
What Do You Meme?
Recommended Reads
Unchained: What Is eBTC by BadgerDAO and Lido? A Guide to the New Synthetic Bitcoin Token on Ethereum
CoinDesk: Crypto Does Not Have an Illicit Finance Problem, Bad Actors Do
Heatwave by Arthur Hayes
📈 Your Market Update 📉
BTC is down 1.9%, trading at $70,465
ETH is up 0.8%, trading at $3,633
BTC dominance: 49.95%
Crypto market cap: $2.78T
*All data as of today, 06:22 am ET. Source: CoinGecko
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