After a week of general decline in the cryptocurrency market, crypto users focused on the next week's developments in altcoins.
This Week's Highlights
- Memecoin PEPE increased 1000x in 4 days and several traders raised over $9M at a total cost of 0.61 ETH.
- After the Shanghai Update, LSDs like frxETH and Agility experienced impressive growth; Agility's total locked value (TVL) increased by $467 million during the week as frxETH grew 14%.
- Net outflow of 579 thousand ETH ($1.1 billion) after Shanghai update
- Arbitrum has achieved a new ATH in price while recording more DEX volume than Ethereum and generating $700,000 in daily fees, enough to rank it as the fourth largest protocol by daily fees.
- Frax Finance has partnered with Paxos to reduce reliance on USDC as FRAX collateral and also created a new FRAX/USDP base pool on Curve.
- Synthetix Perps Optimism Trading Incentives program launched, offering weekly rewards of up to 300,000 OPs to SNX and KWENTA traders for 20 weeks.
- The Rocket Pool Atlas update is now live, allowing for rETH withdrawals, higher node operator rewards, cheaper validator requirements, and greater rETH capacity.
- USDT market dominance reached a record 62% since April 2021 as USDC and BUSD lost market share due to Silicon Valley Bank's bankruptcy and regulatory pressures
- Ether Fi, a new LSD protocol, has attracted $40.8 million in TVL within 3 days of its announcement.
- A16z has announced Magi, the Optimism Stack rollup client.
- Uniswap DAO has confirmed the release of V3 on Polygon zkEVM.
- Conflux joins Uniswap V3 and Curve battles with CFX bridged to Ethereum.
- Berachain has raised $42 million at a valuation of $420.69 million and plans to launch a public incentivized testnet soon.
- 1inch zkSync was released in Era.
- EOS's EVM Mainnet Beta is live.
- Angle Protocol was restarted after the Euler attack and agEUR is back to peg level.
- Iron Fish, a privacy-focused L1 powered by A16z, has launched its mainnet.
- Olympus DAO voted in favor of buying ETH to rebalance the OHM treasury.
- Uniswap mobile wallet is available for Apple users.
- Popsicle Finance, a Uniswap V3 fork, went live on zkSync.
- Obol Network has announced the alpha release.
- Merit Circle is launching Beam, a new gaming-focused subnet on Avalanche.
Next Week's Major Altcoin Developments
- It is said that crvUSD will be released very soon as GitHub activity increases and leaked screenshots indicate that it will be released soon.
- Over the next few days, $200 million worth of Arbitrum Incentives will be awarded to eligible projects.
- Spark Protocol, MKR's new loan product developed on Aave V3, is expected to be released soon.
- The OP Bedrock update is expected to launch soon, lower network fees, and implement zero-knowledge proofs.
- GMX V2 is expected to go live soon with synthetic assets and a revamped fee structure.
- veYFI will be operational soon, enabling protocol revenue sharing and enhanced governance with stakers.
- Blur Season 2 ends in one week with 300 million BLUR tokens distributed to past users.
- The Luxo L1 will go live on April 20.
*Not investment advice.
