171.76K
739.77K
2024-04-30 09:00:00 ~ 2024-10-01 03:30:00
2024-10-01 09:00:00
Total supply1.68B
Resources
Introduction
EigenLayer is a protocol built on Ethereum that introduces re-staking, allowing users who have staked $ETH to join the EigenLayer smart contract to re-stake their $ETH and extend cryptoeconomic security to other applications on the network. As a platform, EigenLayer, on the one hand, raises assets from LSD asset holders, and on the other hand, uses the raised LSD assets as collateral to provide middleware, side chains, and rollups with AVS (Active verification service) needs. The convenient and low-cost AVS service itself provides demand matching services between LSD providers and AVS demanders, and a specialized pledge service provider is responsible for specific pledge security services. EIGEN total supply: 1.67 billion tokens
According to Onchain Lens monitoring, an entity named "7 Siblings" has purchased 1.06 million EIGEN in the past two days, with an average purchase price of $2.43.
ConsenSys' decentralised Ethereum (CRYPTO:ETH) node provider, Infura, has announced significant progress in its Decentralised Infrastructure Network (DIN). At Devcon 2024 in Bangkok, Infura revealed that it will launch as an Actively Validated Service (AVS) on Ethereum's restaking platform, EigenLayer (CRYPTO:EIGEN). "By leaning on Ethereum’s economic security through EigenLayer, we continue to build on DIN’s steady progress creating a Web3 permissionless marketplace for infrastructure services," stated Tom Hay, head of product for Infura's Decentralised Infrastructure Network (DIN). DIN operates as a decentralised Web3 API marketplace, functioning as a blockchain infrastructure "app store" that connects developers to various blockchains, including Ethereum, Blast, Mantle, and others. Launching as an AVS through EigenLayer brings multiple advantages: reducing development costs, enhancing accessibility and service reliability, fostering cooperation among service providers, and simplifying the deployment of new services. "Building DIN as an EigenLayer AVS enables permissionless infrastructure provision, thus scaling the marketplace while simultaneously increasing reliability and reducing costs," noted Sreeram Kannan, founder of EigenLayer. An AVS on EigenLayer provides custom validation mechanisms for off-chain operations and benefits from Ethereum’s economic security. EigenLayer’s restaking protocol allows staked Ether to earn additional rewards, supporting secure, decentralised services. This deployment aims to make decentralised infrastructure for Web3 development more accessible and efficient while avoiding the premature launch of project tokens. Staking on EigenLayer also offers slashing protection as part of its onboarding process. EigenLayer has seen substantial growth in 2024, with total value locked (TVL) rising 900% to reach $13.4 billion, as per DefiLlama. Although it peaked at $20 billion in June, recent ETH price increases have spurred an uptick in TVL, indicating renewed interest in the platform. At the time of reporting, the Eigenlayer (EIGEN) price was $2.34.
According to blockchain analyst @ai_9684xtpa, Blockchain Capital's associated address deposited 1.43 million EIGEN tokens into Coinbase 7 hours ago, worth $3.55 million or may have intended to sell. The address received 1.74 million EIGEN tokens from EigenLayer DelegationManager's multi-signature address a week ago when the token price was still $2.73. (The current deposit price is $2.48, a 10% decrease).
According to on-chain analyst @ai_9684xtpa, Blockchain Capital's associated address recharged 1.43 million EIGEN into CEX 7 hours ago, worth $3.55 million, possibly intending to sell. This address received 1.74 million EIGEN tokens from the EigenLayer Delegation Manager multi-signature address a week ago when the token price was still $2.73 (the recharge price this time is $2.48, down by 10%).
Polymer Labs has officially announced the launch of Polymer Hub, a protocol that provides real-time interoperability for all Ethereum rollups. Through streaming messages, state, and logs, and based on IBC primitives (similar to Web2's TCP/IP), Polymer Hub is able to validate and store the block headers of all connected rollups, enabling applications to verify arbitrary state across different rollups at a lower cost. Previously, the Rollup/L2 ecosystem could only interconnect within their own isolated environments; however, Polymer breaks this barrier, allowing Rollups to engage in real-time communication and coordination across ecosystems, nearly synchronizing with block generation speed. Compared to existing solutions, the protocol offers significant improvements in cross-chain communication latency, bandwidth, and cost, especially in scenarios involving all on-chain primitives. Polymer aims to make cross-chain interoperability as fast, efficient, and economical as block space itself, enabling Ethereum applications to scale to millions of users. Boosting Bandwidth, Reducing Latency Real-time, high-throughput Rollups are on the horizon, but existing interoperability protocols (such as point-to-point and hub-and-spoke network models) are insufficient to support heavy network traffic among hundreds of rollups. The Polymer team notes that current solutions are too slow and expensive for the next generation of Ethereum applications. As technology progresses, interoperability protocols must match the demands of real-time applications for speed and efficiency. Future application scenarios require real-time interoperability. Polymer aims to build the fastest and most efficient interoperability protocol for the next generation of Rollups (such as MegaETH). Through a block proposer's pre-commit mechanism, Polymer Hub achieves real-time message delivery, ensuring that cross-chain communication latency can keep up with the millisecond block speeds of these Rollups. Furthermore, Polymer leverages EigenDA to expand cross-Rollup bandwidth to support on-chain data-intensive application scenarios. “Real-time capability, the ability to react to inputs at ultra-low latency in a large-scale environment, will lay the foundation for breakthrough development in decentralized applications. Being prepared with the relevant infrastructure will be a collective industry task, and the real-time interoperability provided by Polymer will be key.” — Lei Yang (Co-Founder and CTO of MegaETH) Currently, as Ethereum is segmented into multiple rollup clusters due to the scalability provided by the shared sequencer and interoperability network, these clusters can achieve interoperability within minutes through Polymer Hub's "one-to-many" architecture, eliminating the need for months-long processes. Additionally, Polymer Hub is the first interoperability solution to offer re-org protection, enabling token bridges and settlement networks to securely settle cross-chain transactions in milliseconds and automatically roll back these transactions if they do not align with Ethereum L1's history. Future Outlook The architecture of the next-generation on-chain applications will resemble cloud applications: Rollups will become the new microservices, with AVS being the new infrastructure service. To achieve on-chain horizontal scaling, cross-chain infrastructure must possess low latency, high bandwidth, and cost-effectiveness. The Polymer team is committed to enhancing interoperability performance to support the emergence of more high-throughput applications, such as on-chain e-commerce and ride-sharing, and other innovative applications. “Building interoperable applications with both low cost and low latency is key to restoring usability to cryptocurrency. In scalable applications, this connectivity layer needs to be as robust and secure as Ethereum's base layer, and Polymer has made significant efforts to achieve this goal.” — Vikram Arun (Co-Founder and CEO of Superform Labs) Starting from the OP stack, Polymer plans to extend real-time interoperability to all Ethereum Rollup ecosystems, empowering applications to achieve rapid, low-cost scaling. Developers interested in trying out the Polymer Hub mainnet can visit the Polymer Labs website for more information or follow X (@Polymer_Labs) for the latest updates. About Polymer Labs Polymer Labs provides real-time high-throughput interoperability for Ethereum Rollups, building the foundational network architecture for next-generation internet-scale applications (such as Uber) on-chain. Contact Information Head of Marketing Harry Lam Polymer Labs hlam@polymerlabs.org
LayerZero has announced the launch of a new data primitive, lzRead, designed specifically for smart contract developers. Using any standard smart contract language, developers can retrieve and calculate data from one or more chains through a single function call, utilizing the complete historical data of each chain. IzRead builders include: -- Apecoin: NFT proof -- EigenLayer: Full-chain AVS verification (research) -- Agora: Governance -- Chaos Labs: Conveying oracle results -- Wintermute: Solving election market problems -- Ethena Labs: Full-chain message verification -- Plume Network: RWA revenue stream -- Stargate: Asset verification -- Gelato: Price aggregation -- AltLayer: Data automation -- Ambient: Reserve proof
Author: BitpushNews Bitcoin surged past $90,000 on November 12, once again setting a new historical high. According to TradingView data, at 12:56 PM Pacific Standard Time on November 12, Bitcoin rose above $90,000 on Coinbase, with a 24-hour increase of 11%, just one step away from entering the $100,000 range. It is worth noting that the trading price of Bitcoin on the Coinbase platform is often slightly higher than on other platforms, which is referred to as "premium trading." This means that even when Bitcoin prices are already high in the overall market, there are still many buyers willing to purchase at higher prices on Coinbase, further indicating strong market demand for Bitcoin. As of the time of writing, the trading price of Bitcoin has retreated to $88,223, with a 24-hour increase of 0.4%. Altcoins are mixed, with Bonk (BONK) leading the gains among the top 200 altcoins, rising 27.7%, followed by AIOZ Network (AIOZ) up 23.2%, and Akash Network up 18.8%. EigenLayer (EIGEN) led the declines, falling 12.8%, followed by DOGS (DOGS) and Artificial Super Alliance (FET), which dropped 11.6% and 11.5%, respectively. The overall market capitalization of cryptocurrencies is $2.98 trillion, with Bitcoin's market share at 59.5%. CoinGlass data shows that in the past 24 hours, extreme price volatility has led to nearly $940 million in liquidations across the crypto market, the largest single-day liquidation amount since August 5. In the U.S. stock market, at the close, the S&P 500 index, Dow Jones Industrial Average, and Nasdaq Composite all closed lower, down 0.29%, 0.86%, and 0.09%, respectively. Analyst: Some Indicators Worth Watching Due to expectations of a regulatory easing environment with the Republican control of Congress, market FOMO sentiment is high, and analysts generally believe that cryptocurrencies will continue to trend upward in the short term. However, Shubh Varma, co-founder and CEO of Hyblock Capital, pointed out: "One noteworthy indicator is the True Retail Long percentage, which is unusually low at only 40%, sitting in the 20th percentile over the past 90 days. Additionally, the Open Interest (OI) is in the 99th percentile. This dynamic echoes the situation on November 7, when the True Retail Long percentage was even lower, at the 12th percentile, while OI was also high. Historically, when OI is high and retail long positions are low, it often leads to short positions being squeezed out, resulting in significant upward movement." Moreover, data from the derivatives market shows that top traders continue to favor long positions, with the average leverage difference between longs and shorts exceeding +10 again, which is a strong bullish indicator. Analysts explain that typically, this leverage pattern occurs after a price decline, but this time it has appeared after a significant price increase. If long leverage continues to increase following Bitcoin's recent surge, this deviation may indicate sustained bullish momentum. Varma suggests using pullbacks as buying opportunities and states that given the strength of this rebound, buying on dips could provide favorable entry points. However, he warns traders to closely monitor indicators such as retail long positions and leverage imbalances, which can help investors assess market risks and potential turning points. Additionally, other factors such as fundamentals and policy should also be considered.
From theblock by James Hunt Blockchain infrastructure firm Polymer Labs has launched Polymer Hub on mainnet, a real-time interoperability protocol designed for connecting Ethereum rollups. The project argues that rollup ecosystems have historically only connected within their own walled gardens, creating an interoperability bottleneck. While real-time, high-throughput rollups are near, current interoperability protocols aren't built to handle dense traffic across hundreds of rollups, the team said in a statement shared with The Block. Polymer Hub aims to make cross-chain interoperability as fast, efficient and affordable as blockspace itself, starting with the OP Stack ecosystem — which includes Layer 2s such as OP Mainnet, World Chain and the Coinbase-incubated Base network. Next-generation rollups like MegaETH have also shown support for the project. "Real-timeness, the ability to react to inputs with ultra-low latency at massive scale, will enable truly ground-breaking decentralized applications,” MegaETH co-founder and CTO Lei Yang said. “Readying the infra stack for this revolution will be a joint effort, in which real-time interoperability from Polymer will be crucial." The launch comes after Polymer Labs raised $23 million in a Series A funding round announced in January, nearly two years after it raised $3.6 million in seed funding to build its Ethereum interoperability hub. Blockchain Capital, Maven 11 and Distributed Global co-led the Series A round, with Coinbase Ventures, Placeholder, Digital Currency Group, North Island Ventures and Figment Capital participating. How Polymer Hub works Polymer Hub leverages IBC, a protocol developed by the Cosmos ecosystem that enables secure communication between blockchains. This allows applications to prove any arbitrary state across rollups with less overhead, improving cross-chain communication speed, bandwidth and cost compared to current solutions. It uses sequencer pre-confirmations for real-time messaging — matching the near-instant block times of next-generation rollups. Polymer also uses EigenDA to boost cross-rollup bandwidth for data-intensive on-chain use cases. Additionally, Polymer Hub claims to be the first interoperability solution to provide re-org protection, helping token bridges and solver networks to settle cross-chain transactions in milliseconds and automatically revert if they deviate from Ethereum’s Layer 1 history. Ultimately, Polymer plans to bring real-time interoperability to all rollup ecosystems on Ethereum, enabling swift and cost-effective application scaling for use cases like high throughout e-commerce and ride-sharing to be built with cloud architecture onchain. "Building interoperable applications that don’t trade off cost or latency is a requirement to make crypto usable again. At scale, this connective layer needs to be as robust and secure as the Ethereum base layer itself, and Polymer has been uncompromising in achieving this vision,” Superform Labs co-founder and CEO Vikram Arun said.
November 11, 2024 – New York City, New York Polymer Labs has officially launched Polymer Hub, a real-time interoperability protocol for connecting all Ethereum rollups. By streaming messages, states and logs over IBC primitives – equivalent to Web 2.0’s TCP/IP – Polymer Hub verifies and stores the headers of all connected rollups, allowing applications to prove any arbitrary state across rollups at vastly reduced overhead. Rollup/layer-two ecosystems have historically connected only within their own walled gardens. With Polymer, however, rollups can now communicate across ecosystems and coordinate as fast as they can produce blocks. The protocol offers significant improvements in cross-chain communication latency, bandwidth and cost for all on-chain primitives compared to existing solutions. Polymer aims to make cross-chain interoperability as fast, efficient and affordable as blockspace itself, enabling Ethereum applications to scale to the next million users. Increase bandwidth reduce latency Real-time, high-throughput rollups are right around the corner, but existing interoperability protocols – point-to-point and hub-and-spoke models – were not designed to support dense network traffic across hundreds of rollups. According to the team, existing solutions are too slow and expensive for the next generation of applications on Ethereum. As we enter this new era, interoperability solutions must complement their speed and efficiency. Real-time apps require real-time interoperability. Polymer aims to build the fastest and most efficient interoperability protocol for next-generation rollups like MegaETH. The hub passes messages in real-time via sequencer pre-confirmations, ensuring cross-chain communication latency can keep up with millisecond block times of these rollups. Polymer also leverages EigenDA to scale cross-rollup bandwidth to facilitate data-intensive use cases on-chain. Lei Yang, co-founder and CTO of MegaETH, said, “Real-timeness – the ability to react to inputs with ultra-low latency at massive scale – will enable truly ground-breaking [DApps] (decentralized applications). “Readying the infra stack for this revolution will be a joint effort, in which real-time interoperability from Polymer will be crucial.” Various technologies like shared sequencers and ecosystem-native interoperability intra-nets have fragmented Ethereum into rollup clusters. These clusters, however, can leverage Polymer Hub’s one-to-all architecture to become interoperable with each other within minutes, rather than months. Polymer Hub is also the first interoperability solution to offer re-org protection. This helps enable token bridges and solver networks to safely settle cross-chain transactions in milliseconds and automatically revert them if they deviate from Ethereum’s layer-one history. Looking ahead The next generation of on-chain applications will closely follow the architecture of cloud apps – rollups are the new microservices and AVSs are the new infrastructure services. To enable horizontal scaling on-chain, cross-chain infrastructure must be low-latency, high-bandwidth and affordably scalable. The Polymer team seeks to improve interoperability performance in order to enable competitive, novel categories of applications – such as high throughput e-commerce and ride-sharing – to be built on-chain. Vikram Arun, co-founder and CEO of Superform Labs, said, “Building interoperable applications that don’t trade off cost or latency is a requirement to make crypto usable again. “At scale, this connective layer needs to be as robust and secure as the Ethereum base layer itself, and Polymer has been uncompromising in achieving this vision.” Starting with the OP stack, Polymer plans to bring real-time interoperability to all rollup ecosystems on Ethereum – enabling swift and cost-effective scaling for applications in the near future. Developers interested in trying Polymer Hub’s mainnet can find more information on Polymer Lab’s website , and by following Polymer on X . About Polymer Labs Polymer Labs provides real-time, high-throughput interoperability for Ethereum rollups. Polymer lays foundational network infrastructure enabling the next generation of internet-scale apps like Uber to be built on-chain. Contact Peter Kim , co-founder of Polymer Labs Harry Lam , marketing lead of Polymer Labs
George Town, Grand Cayman, November 8th, 2024, Chainwire Zircuit , the chain where innovation meets security, is thrilled to announce the success of its EIGEN Fairdrop initiative. With a first-of-its-kind distribution of 2% of ZRC tokens to eligible EIGEN holders, Zircuit has introduced a model of fairness and inclusivity in the Ethereum staking ecosystem, underscoring a commitment to decentralization and community empowerment. The EIGEN Fairdrop, an industry first, provided equal shares to over 190,000 eligible EIGEN holders and moved away from traditional distribution models that often favor larger stakeholders. Within just the first week, over 51,000 users claimed their ZRC and this fair and community-first approach has garnered widespread appreciation across the crypto space. The Fairdrop includes a wide range of contributors to the EigenLayer ecosystem, extending beyond EIGEN stakers to support Uniswap liquidity providers, EtherFi eEIGEN holders, and Renzo ezEIGEN holders. Sreeram Kannan, Founder of EigenLayer, praised Zircuit’s approach, saying, “Thrilled to see Zircuit introducing the first Fairdrop for EIGEN holders with 2% of their ZRC tokens. This is an amazing community-first approach, embodying fairness in the EigenLayer ecosystem, with everyone receiving the same amount.” The Fairdrop, an industry milestone, supports Zircuit’s vision of an inclusive Ethereum ecosystem and strengthens the EigenLayer network by recognizing all contributors. The initiative’s snapshot, taken on October 8, 2024, at Ethereum Block #20919999, included wallets with a minimum of 3 EIGEN tokens while excluding core EigenLayer team members and investors, keeping the focus on the community. Zircuit protects users from hacks through its built-in, automated AI techniques that guard against smart contract exploits and malicious actors. Bolstered by its strong security infrastructure, Zircuit is the central hub for restaked assets featuring unparalleled security and allowing users to potentially earn industry-leading yields natively. With $1.8 billion in Total Value Locked (TVL), Zircuit is the premier liquidity hub for restaked assets (ETH, BTC, LSTs, and LRTs) where users can receive stronger security guarantees and trust. During Mainnet, users can bridge their assets and start staking to potentially earn rewards and airdrops from the Zircuit ecosystem at the Liquidity Hub . To learn more about Zircuit, users can visit zircuit.com or read the developer docs at docs.zircuit.com About Zircuit Zircuit provides developers with advanced features and users with peace of mind. Built by a team of web3 security experts and PhDs, Zircuit merges high performance with unparalleled security, making it the safest choice for DeFi and staking. Users can visit zircuit.com or follow us on Twitter/X @ZircuitL2 . Contact Jennifer Zircuit jen@zircuit.com
From theblock by Timmy Shen The Ethereum ETH +4.86% Foundation's financial report for this year revealed that it holds $970.2 million in cryptocurrencies and non-crypto assets as of Oct 31, 2024. The EF noted that it holds $788.7 million in crypto assets, 99.45% of which are held in ether, representing 0.26% of the total ether supply as of the end of October 2024. According to the report, it holds $181.5 million in non-crypto investments and assets. “We choose to hold the majority of our treasury in ETH. The EF believes in Ethereum’s potential, and our ETH holdings represent that long-term perspective,” the foundation said. The EF said its treasury aims to “fund important public goods for the Ethereum ecosystem.” It added a plan to follow a conservative treasury management policy that ensures it has "sufficient resources even in the case of a multi-year market downturn.” “This requires periodically selling ETH to ensure sufficient savings for future years, and programmatically increasing our fiat savings in bull markets to fund spending in bear markets,” the foundation said. This follows scrutiny and negative reactions from the community in response to several large, unexplained transactions and ether sales by the foundation without prior notice, prompting calls for greater transparency. Implementing conflict of interest policy Last week, Ethereum researchers Justin Drake and Dankrad Feist posted on X that they had resigned from their advisory positions with Ethereum restaking protocol EigenLayer, for which they were paid in Eigen tokens, sparking concerns regarding potential conflicts of interest. The EF outlined additional details on its conflict of interest policy in today’s report. Specifically, the foundation’s staff may take on outside work but must inform the organization and consult with their team lead. If the total value of the outside work is above $25,000 annually, it must be reviewed by an internal discussion group, according to the report. However, “EFers cannot take on work outside the EF and get paid in illiquid assets with an unknown market value,” the foundation said, citing “advisorship token packages for pre-launch projects” as an example. It added that this is prohibited upfront but may be allowed in “rare exceptions.” 2023 expenditure In 2023, the EF’s largest expenditure was on “new institutions,” totaling $47.4 million compared to $28.6 million in 2022. This category includes grants to new institutions supporting the Ethereum ecosystem. The foundation also spent $34.7 million on Layer 1 research and development, up from $32.1 million in 2022, according to the report. “EF’s long-term thinking keeps us focused on supporting a sustainable and open ecosystem,” Aya Miyaguchi, executive director of Ethereum Foundation, wrote on X. “We’re more committed than ever to planting seeds that may only mature years down the line, ensuring Ethereum’s resilience and collaborative growth.” Ethereum has seen steady momentum over the past few months. The number of active addresses on the Ethereum network reached 13.7 million in October, up from 12.3 million in September, according to The Block’s data dashboard . Its on-chain volume expanded to $108.6 billion in October, up from $90.9 billion in September and $57.1 billion in the same period last year. Ether gained 2.4% over the past 24 hours to trade at $2,912 at the time of writing, The Block’s data showed. It has risen 19% over the past five days amid a broader market rally .
The Ethereum Foundation recently shared some big news, revealing it holds a whopping $788 million in cryptocurrency. Alongside this announcement, the foundation introduced a new conflict of interest policy for its team. This policy aims to prevent staff from taking on outside jobs that could create potential conflicts, especially those that pay in assets that are hard to value. These updates not only show the foundation's financial strength but also highlight its commitment to transparency and integrity in the fast-evolving world of crypto. Ethereum Foundation discloses $788M in crypto assets and strengthens staff conflict of interest policy The Ethereum Foundation recently shared its financial update , revealing a total of $970.2 million in assets, with most of that in cryptocurrency. As of October 31, 2024, they hold $788.7 million in crypto, mainly in ether, which makes up 0.26% of the total ether supply. They also own $181.5 million in non-crypto assets. Explaining their approach, the foundation noted that they keep most of their treasury in ETH because they strongly believe in Ethereum’s future. Their goal is to support essential projects within the Ethereum community while managing funds carefully to weather market downturns. This means occasionally selling some ETH to build up savings, especially when the market is strong, so they’re prepared for slower periods. This financial strategy comes amid requests from the community for greater openness. In the past, the foundation’s large ether transactions raised questions, pushing them toward a more transparent approach in their operations. New Policies and Big Investments: Ethereum Foundation's Latest Updates Last week, Ethereum researchers Justin Drake and Dankrad Feist shared on X that they had stepped down from advisory roles with the Ethereum restaking protocol, EigenLayer, where they were compensated in Eigen tokens. Their departure brought up some concerns about possible conflicts of interest. To address these issues, the Ethereum Foundation recently detailed its conflict of interest policy. While team members are allowed to take on outside work, they must notify the foundation and discuss it with their team lead. If their outside earnings exceed $25,000 a year, the arrangement goes through an internal review. Additionally, the foundation specified that its staff, or "EFers," can’t accept outside payments in assets that are hard to value, like tokens from projects that haven’t launched yet. While generally off-limits, there may be rare exceptions. In 2023, the foundation’s largest expense was $47.4 million for “new institutions,” which support the broader Ethereum ecosystem, up from $28.6 million in 2022. Another $34.7 million was allocated to Layer 1 research and development, an increase from $32.1 million the previous year. Ethereum Foundation Executive Director Aya Miyaguchi recently posted on X, saying, “EF’s long-term vision keeps us focused on building a sustainable, open ecosystem. We’re dedicated to sowing seeds now that might only bear fruit years down the line, ensuring Ethereum’s future resilience and collaborative growth.” According to The Block , Ethereum’s network activity has also been on the rise, with active addresses hitting 13.7 million in October, up from 12.3 million in September. On-chain volume also climbed to $108.6 billion in October, compared to $90.9 billion in September and $57.1 billion in the same month last year.
The altcoin market looks promising, and many altcoins are recording gains. Bitcoin (BTC) is still struggling to stay above its all-time high of $73K as it hovers around 74K. However, the market looks bullish, so investors and analysts are optimistic. Investors need to stay alert during this consolidation phase, as it could be a chance to catch a ride on a rising trend. Prices of various altcoins are already showing positive movements, even before the market takes off entirely. Today’s article will identify the next cryptocurrencies to explode and inform investors and traders about each token. Next Cryptocurrency To Explode Savvy investors anticipate a boom in the altcoin market and taking positions in upcoming tokens like the Crypto All-Stars. The project aims to revolutionize the meme coin space with its groundbreaking MemeVault Ecosystem. This post covers the details of its presale. 1. Raydium (RAY) On Thursday, November 7, Raydium (RAY) crossed the $5 mark after a 27% increase in 24 hours. Several other altcoins, including Starknet and EigenLayer, surged as the crypto market opened. Raydium’s price gained 51% over the past week, climbing from $3.213 to $5.05. Several factors contributed to this rise in RAY’s value. One major factor was Kraken Pro’s addition of RAY futures trading on October 25, which increased its trading options. The platform’s October 23 upgrade improved liquidity and swap speeds, boosting transaction volume. Raydium is now the third-highest decentralized exchange (DEX) by daily trading volume. This price surge has also placed Raydium among Solana’s top five DeFi protocols. According to DeFiLlama, Raydium is now fifth in total value locked (TVL), which jumped over 30% in the past month, pushing it above $1.50 billion. Raydium’s price chart shows a promising candlestick pattern, indicating strong buying activity with only minor pullbacks. This aligns well with the overall bullish sentiment traders currently have for RAY. Unlike many assets that merely survive market dips, Raydium stands out with high trading volumes and rapid price shifts, highlighting its leadership in the fast-paced crypto space. Additionally, growing institutional interest in Solana could positively impact Raydium. With more institutional involvement, Raydium’s market share may grow, potentially boosting its token value. The technical indicators also remain supportive. The alignment of short- and long-term moving averages suggests ongoing buying pressure, and the current momentum shows little sign of slowing down. 2. Starknet (STRK) Starknet (STRK) has seen steady growth over the past month, rising by 4.06% to reach $0.4095 at the time of writing. This includes a weekly gain of 7.14% and a 24-hour increase of 7.98%, reflecting a strong upward trend. Additionally, the RSI and Stochastic indicators, at 44.57 and 46.16, show that Starknet is neither overbought nor oversold, signaling stable trading activity. Starknet, a zero-knowledge rollup network, has set a new benchmark for transaction speed and efficiency among Ethereum layer-2 networks. A week ago, it broke the transactions per second (TPS) record by reaching 127.5 TPS in a single day, surpassing Coinbase’s Base, which previously held the record at 79.92 TPS. This milestone was achieved during a gaming simulation that tested Starknet’s ability to handle high transaction volumes, highlighting its potential for scalability in high-demand scenarios. If STRK gains bullish momentum but encounters resistance at the 20-day EMA on the daily chart, sellers might break support, potentially pushing the price lower. However, if demand stays strong, it could rebound from this level. STRK’s price prediction sentiment is bullish, with a Fear & Greed Index 69 indicating a “Greed” level. This reflects increased transactions and signals growing optimism for an uptrend. If the broader crypto market maintains its bullish trend, the STRK token’s average price could reach $1.19 by 2024. 3. Crypto All-Stars (STARS) The Crypto All-Stars project is making waves in the meme coin space with its unique MemeVault protocol. This platform enables holders of different meme coins to stake their tokens in one unified system, allowing for multi-token and multi-chain staking options. With the presale raising over $3 million in a few weeks, it’s clear that interest in the project is strong. https://youtu.be/b4sHP9HKhjY?si=wuQVIu7Wz8YvtPnH One of Crypto All-Stars’s standout aspects is its attractive staking rewards, offering potential APYs of up to 505%. This high yield appeals to early investors and motivates participation in the staking ecosystem. The project has gained attention from top crypto influencers and continues to build a large community, with over 16,500 followers on Twitter and 2,500 members on Telegram. Crypto All-Stars brings popular meme tokens together under one platform, allowing users to stake well-known coins like Dogecoin and Shiba Inu. By consolidating these assets, Crypto All-Stars offers a smoother experience for meme coin holders and aims to reduce the fragmentation currently seen in the meme coin space. The MemeVault is designed to make staking more engaging and accessible. The Crypto All-Stars presale is an exciting opportunity for those interested in its innovative staking model and community-driven approach. With high staking rewards and dedicated anonymous leadership, the project aims for long-term sustainability. Investors can purchase tokens at the presale price of $0.0015494 before the price goes up in less than two days. Buy STARS Tokens Now 4. EigenLayer (EIGEN) EigenLayer (EIGEN) has recently shown a strong recovery as investors took advantage of momentum after last month’s airdrop. The token hit a high of $3.86, its best level since early October, following an announcement from the founder about a renewed focus on Web3 applications. This shift has fueled optimism, with EIGEN’s price climbing 12.85% in the past 24 hours, signaling continued interest in its future growth. Despite a recent hack that lost over 1.6 million tokens (worth around $6.8 million), the recovery has been steady. Developers have outlined plans to gradually release 67 million tokens (4% of the initial supply) over the next year. A portion of these tokens will be distributed each Tuesday, with 3% allocated to Ethereum and liquid staking token stakers and 1% designated for EIGEN stakers and operators. Meanwhile, EigenLayer recently introduced new restaking options for Bitcoin and Ethereum holders to increase earning potential through wrapped Bitcoin. This feature allows users to earn higher returns by staking their assets again on the platform. On November 4th, EigenLayer also announced a boost in returns for wrapped Bitcoin investments. As part of this update, P2P.org, a major validator on the network, is now making payments to users. This added option lets BTC and ETH holders stake their assets for a second round, creating more income opportunities on the platform. 5. Moo Deng (moodengsol.com) (MOODENG) Moo Deng is a Solana-based meme coin inspired by a popular pygmy hippo from a Thai zoo that recently gained strong crypto attention. Its price has jumped by 28.56% in the past 24 hours, now trading at $0.2393, while trading volume surged by 37.42% to $145.01 million. This growth shows the community’s growing interest in this unique token. On October 25, 2024, Binance added Moo Deng to its Futures platform, introducing the MOODENGUSDT Perpetual Contract with up to 75x leverage. Binance highlighted this launch as an expansion of trading options to enhance user experience. Since this listing, Moo Deng’s price has risen over 215%, pushing its market cap up by 28.56% in just one day to nearly $237 million. This rise reflects its unique backstory and the enthusiastic response from the crypto community. MOODENG’s technical indicators are signaling potential growth. The MACD shows a bullish crossover, with the MACD line above the signal line and a positive histogram indicating strong upward momentum. Moreover, the RSI is 58.29, in a neutral zone, suggesting the price isn’t overbought or oversold. This balance leaves room for possible gains without immediate risk of hitting overbought levels. Regarding price movement, if MOODENG breaks above the $0.466 resistance, it could climb toward $0.500 or higher. However, if it fails to hold and drops below $0.1707 (its 50-day moving average), it may test the support level at $0.09041. A drop below this support could signal a bearish shift. While the indicators lean toward an upside, these resistance and support levels will likely shape the next big price move. Read More Discover the Next Big Crypto Surge in 2024
Ethereum’s network revenues are poised to rebound as surging activity on layer-2 (L2) scaling networks drives demand for data storage, according to cryptocurrency researchers and onchain data. In November, Ethereum L2s have been posting upward of three times more transaction data each day to the mainnet than they did in March, according to data from Dune Analytics. Ethereum’s revenues dropped by as much as 95% after the network’s March Dencun upgrade migrated L2 transaction data to temporary offchain stores called “blobs” in a bid to cut costs for users, according to data from asset manager VanEck. “ETH Fees Were Weak Due to Lack of Blob Revenues as L2s Have Not Filled Available Capacity,” Matthew Sigel, VanEck’s head of digital asset research, said in a Nov. 1 post on the X platform. “There is Some Evidence this is Changing, thanks to Base, Scroll and World Chain,” Sigel said, referring to three popular L2s. Source: Dune Analytics Related: Trump win could fast-track first staked Ether ETF — Nansen analyst In September, Sigel said he expects Ethereum to generate up to $66 billion in annual free cash flow by 2030, driving spot Ether’s price as high as $22,000 per Ether ( ETH ) token. His estimate reflects anticipated value accrual to ETH holders from transaction fees as Ethereum processes a growing portion of the world’s transactions. “Ethereum processed roughly $4 trillion in settlement value over the last year and another $5 trillion in stablecoin transfers annually. So this is far bigger than PayPal and is beginning to approach networks like Visa,” Sigel said. Since launching in 2015, Ethereum has generated $3 billion in fees (denominated in ETH), Sigel said. Other ETH value accrual mechanisms include “burning” — or permanently removing from circulation — a portion of transaction fees and emitting new ETH to reward stakers, who post ETH as collateral to secure the network. Scenarios for ETH by 2030. Source: VanEck On Nov. 6, ETH prices spiked 10% after crypto-friendly Republican Donald Trump prevailed in the United States presidential elections. Meanwhile, US spot Ether exchange-traded funds (ETFs) saw net inflows of $52.3 million, the highest in six weeks. Trump’s victory in the presidential election could pave the way for more crypto investing products to hit the US markets, including the first staked ETH ETFs , according to Edward Wilson, an analyst at Nansen. Other protocols are competing against Ethereum in data availability. They include Celestia, EigenDA and Avail, among others. Magazine: AI agents trading crypto is a hot narrative, but beware of rookie mistakes
The DeFi analytics platform IntoTheBlock confirmed on November 7 that high-risk DeFi loans had surged due to market sentiment increasing their demand among investors. The DeFi analytics firm still expressed growing concern about volatility within DeFi due to the U.S. presidential elections. According to IntoTheBlock, possible volatility could put pressure on leveraged positions. Investments in high-risk loans involve using borrowed funds to increase the potential of returns. In the past, investors with leveraged positions could either benefit from volatility or fall into higher risks. The current rise in decentralized finance loans has been visible since the beginning of the year, with multiple lending protocols, including EigenLayer, gaining popularity. In June, decentralized finance lending reached over $11 billion in loans issued. Aave V3 led the lending protocols, garnering over $6 billion in total loans issued. High-risk DeFi loans, which gained popularity during the pandemic, spiked the most in September 2021. Since then, the performance has fluctuated, with several low seasons, including early 2022 and late last year. High-risk DeFi loans reach a 2-year high on Benqi IntoTheBlock revealed on October 16 that high-risk DeFi crypto collateralized within 5% of their liquidation price had hit a 2-year high, reaching $55 million on Benqi. The platform, a leading decentralized finance staking and lending protocol on Avalanche, reached the high for the first time since June 2022. See also Ethereum researchers leave EigenLayer amid conflict of interest tensions The analytics firm explained some of the possible results of spikes in high-risk decentralized finance loans during its analysis. The firm explained the risk of cascading liquidations, which could significantly affect the collateral price. Likewise, there could be an avalanche effect, causing more loans to be at risk of liquidation, eventually leading to a downward spiral in prices. The blockchain analytics company also explained the risk of the loans having insufficient collateral, leading to losses and bad debts for debtors. Lenders will, in turn, be cautious about adding liquidity to lending platforms to prevent further losses. DeFi becomes bullish after Trump’s victory Crypto has generally had a rebound since the presidential elections on November 5, despite the expected volatility. In a report from November 1 from the FalconX Head of Research David Lawant, the volatility could be expected to be high if the election results were too close to call or the results took a long time to be announced. “Additional volatility, however, could emerge if results are too close to call and it takes too much time to reach an outcome.” – David Lawant, FalconX Head of Research So far, coins have been performing well. Yesterday, Bitcoin reached an all-time high of $75,000. Ethereum also saw a notable boost, reaching over $2,800. See also U.S. SEC goes after Kraken crypto exchange in legal case over crypto regulations The boost in crypto markets has increased speculation among investors that DeFi is going to have a renaissance. Defiance Capital co-founder Arthur Cheong predicted the rebirth of decentralized finance due to Trump’s possible election as president. During the entire campaign, the President-elect sold himself as pro-crypto, with the crypto community now expecting more friendly regulations. According to Cheong, DeFi applications, including lending, will see an increase in user base after a few low years. Additionally, Trump has been involved in crypto projects, standing as the Dynamo DeFi Chief Crypto Advocate.
Over $21.9 million in NEON will be released in the market. A massive $6.18 million in ADA will be unlocked as well. ADA has surged 16.31% in the past 24 hours and trades at $0.43. More than $21 million worth of Neon EVM (NEON) tokens are set to enter the market, alongside over $25 million in other tokens, including Cardano (ADA), Ethena (ENA), EigenLayer (EIGEN), Hashflow (HFT), and Heroes of Mavia (MAVIA). This influx comes as the broader crypto market reached new highs and recorded significant gains. According to the data posted on X by Tokenomist (formerly TokenUnlocks), a substantial 44.92% of the circulating supply of NEON (53.91 million NEON) will be unlocked, along with $6.18 million in ADA (0.05% of the circulating supply). Additionally, $400,000 in Liquity (LQTY) and $113,000 in Euler (EUL) will be released. CoinMarketCap data indicates that NEON is currently trading at $0.4011, a 0.77% decrease over the past 24 hours. However, the altcoin has seen a considerable 26.03% increase over the last 30 days. In contrast, ADA surged 16.31% in the past day and now trades at $0.4308, a 25.45% rise over the past month. Meanwhile, LQTY and EUL are priced at $0.9167 and $3, respectively, with EUL climbing 6.58% and LQTY falling 2.12%. Read also: Cardano Founder Faces Backlash Over “Cancer” Poll: Is Hoskinson Hurting ADA? Additional Token Unlocks Furthermore, $3.03 million (0.69% of the circulating supply) in EIGEN will be released, followed by $4.50 million in ENA (0.45% of the circulating supply). Also, $1.74 million in HFT (2.92% of the supply) will enter the market, along with $1.37 million in MAVIA (3.64% of the circulating supply). At the time of writing, ENA is trading at $0.4979, down 5%; EIGEN is priced at $3.07, down 1.81%; HFT is worth $0.1279, up 0.3%; and MAVIA is trading at $1.41, up 1.79%. These token unlocks are anticipated to have a bearish effect on the market. While demand is expected to remain stable, the increased supply of these cryptocurrencies could lead to downward price pressure. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Trump did what everyone thought was impossible—again. He’s back in the White House, and his doubters are left stunned, scratching their heads, perhaps even a little embarrassed. It wasn’t a narrow win either; Trump cruised through swing states that had everyone biting their nails (Pennsylvania, North Carolina, and Georgia). With the Electoral College swinging heavily his way, Trump sealed the deal, and Republicans even snagged back the Senate. This isn’t even a comeback, it is a complete takeover. Bitcoin goes ballistic as Trump locks in key wins Crypto markets loved it. Bitcoin skyrocketed to an all-time high, hitting $75,000 as the final swing states lit up red. Investors have had their eyes on this election for months, knowing the winner would tip the scales in crypto’s direction. And for Bitcoin holders, Trump’s victory was exactly the boost they wanted. Bitcoin’s 7% jump, landing it at a brand new all-time high above $75,000. In past elections, Bitcoin gains after election day were big: 87% in 2012, 44% in 2016, and a jaw-dropping 145% in 2020. Every one of those election years happened to fall on a Bitcoin halving year, the natural supply squeeze that makes it scarcer and often sends prices up. Now with the Federal Reserve planning more rate cuts , some traders are eyeing even bigger gains in the near future. Coinbase also saw its stock soar 15% in after-hours trading on Robinhood, an indicator that crypto’s ride is far from over. For now, investors are keeping their powder dry, ready to move at the next hint of policy shifts. The contrast between Trump and Harris couldn’t be starker in the eyes of the crypto community. Harris was seen as a threat to crypto since the Biden administration has been so tight with regulations, which had the industry on edge. See also Ethereum researchers leave EigenLayer amid conflict of interest tensions Trump, by comparison, has openly courted crypto players, strongly positioning himself as a “pro-crypto” candidate in a way that’s rarely seen from major politicians. It was a little odd, to say the least. Republicans take back Senate, gain ground in House It wasn’t just Trump who scored big. The Republican Party reclaimed the Senate, giving them control of at least one chamber of Congress. This Senate majority opens the door for Trump to push through his picks for conservative judges and key personnel, stacking the deck in his favor. Jim Justice, now a projected winner in West Virginia, replaced the independent-leaning Joe Manchin. Bernie Moreno took Ohio, booting out Sherrod Brown and securing Republicans a 51-49 majority in the Senate. Republican dominance in Congress will let them block Harris’s agenda outright, should she attempt to push through any legislation from her side. Republicans also gained ground in the House, picking up Democratic seats in Pennsylvania, North Carolina, and even Biden’s own hometown district in Scranton. Democrats, for their part, held onto a few key seats, flipping a Republican district in upstate New York and one in Alabama. The House is still hanging in the balance, but with early results leaning red, Republicans might have the numbers they need to make Trump’s policies unstoppable. Global reactions roll in, allies cheer Trump’s comeback Fox News’ projection of Trump’s win in Pennsylvania was like a loudspeaker to the world, signaling that the White House was flipping back to Trump’s hands. International allies, especially those leaning toward conservative or nationalist agendas, were quick to celebrate. Salvadoran President Nayib Bukele, an ardent crypto supporter himself, wasted no time. He took to X, formerly Twitter, saying : “Congratulations to the President-Elect of the United States of America, @realDonaldTrump. May God bless and guide you.” Viktor Orban, Hungary’s Prime Minister and a longtime Trump backer, shared on Facebook that Trump’s comeback was “a beautiful victory.” Dutch politician Geert Wilders echoed the sentiment, rallying his followers with: “CONGRATULATIONS PRESIDENT TRUMP! CONGRATULATIONS AMERICA! NEVER STOP, ALWAYS KEEP FIGHTING AND WIN ELECTIONS!” Dmitry Medvedev, Deputy Chairman of the Security Council of Russia, said: “Kamala is finished. Let her keep cackling infectiously. The objectives of the Special Military Operation remain unchanged and will be achieved.” Israeli Prime Minister Benjamin Netanyahu also congratulated Trump, calling his win “the greatest comeback in history.” See also Binance and CZ file a motion to dismiss SEC’s amended complaint But the reaction wasn’t all cheerleading. Trump’s return sent a ripple of uncertainty through European Union leaders, many of whom had clashed with him during his first term. His “America First” approach had strained relationships in the past, and there’s speculation that Europe might brace itself for another four years of challenging diplomacy. Trump declares victory Trump’s victory speech left little doubt about his plans. Speaking at the West Palm Beach Convention Center in Florida, he thanked his supporters with characteristic flair, saying : “I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president.” Flanked by his family, VP J.D. Vance, and top campaign strategists, Trump hinted at a sweeping agenda. “We’re going to help our country heal,” he said. “We’re going to fix everything about our country.” Trump’s return starts what he’s calling the “golden age of America.” He claims he wants to dive headfirst into domestic issues, especially in areas he feels were mishandled under Biden. With Republicans in control of the Senate, he’ll have the freedom to push his agenda harder than ever. This election is the start of a whole new game, and everyone’s bracing for what Trump will bring to the table.
Christian2022.eth posted on X platform, stating that they have sold all their holdings of EIGEN and bought some SCR, despite most people feeling uneasy.
From cointelegraph by Alex O'Donnell EigenLayer, Ethereum’s largest restaking platform, is adding more restaking options, including wrapped Bitcoin BTC$68,887 yield and payouts from node operator P2P.org, according to separate announcements on Nov. 4. ARPA Network, a protocol built on EigenLayer, will start paying rewards to depositors of uniBTC, a restaked BTC wrapper, the protocol said in a blog post. “By adding uniBTC as a supported asset, ARPA opens up new liquidity pathways and reward opportunities for BTC holders,” ARPA said. Meanwhile, P2P.org — EigenLayer’s largest professional validator, or “operator” — distributed $2.2 million in Ether ETH$2,437.09 to restakers on Nov. 4, it said . Source; P2P.org Related: EigenLayer eyes consumer adoption post EIGEN unlock, founder says Restaking involves taking a token that has already been staked — posted as collateral with a validator in exchange for rewards — and using it to secure other protocols simultaneously. EigenLayer secures dozens of third-party protocols — dubbed actively validated services (AVSs) — with more than $10 billion of restaked collateral, according to DefiLlama. In October, EigenLayer launched a rewards program in EIGEN, the protocol’s native token, in a bid to accelerate restaking adoption. “Stakers will get programmatic rewards depending on how many AVSs they serve, and AVSs will pay fees to stakers and operators. The more AVSs pay, the more value gets allocated,” EigenLayer founder Sreeram Kannan told Cointelegraph in October . ARPA uses EigenLayer to securely generate random numbers for applications ranging from gaming to lotteries to onchain governance and more. It was among the first AVSs to start paying restakers. P2P.org is responsible for upward of $540 million worth of restaked collateral as of Nov. 5, according to the developer’s website. It competes with dozens of other operators, including staking-as-a-service providers such as Figment, Blockdaemon and Ankr. Source: CoinMarketCap EigenLayer is prioritizing onboarding consumer Web3 applications after EIGEN’s Oct. 1 unlock, Kannan said. On Oct. 23, RedStone — one of the largest oracle providers — launched a data-validation service on EigenLayer. The EIGEN unlock was among the most highly-anticipated in 2024 and puts pressure on EigenLayer to scale protocol revenues from AVSs. The token trades at a fully diluted market capitalization of approximately $4 billion, according to data from CoinMarketCap. EIGEN is designed to secure protocols against a broader set of faults than are addressable using existing proof-of-stake tokens, such as ETH, according to EigenLayer. Magazine: Crypto voters are already disrupting the 2024 election — and it’s set to continue
In the week from November 4 to November 10, as a result of unlocks, tokens worth more than $46,34 million will enter the crypto market. Smart contract platform based on Solana Neon EVM (NEON) will issue the largest number of coins, with a slightly smaller number released to users Cardano (ADA), Xai (XAI), Ethena (ENA), EigenLayer (EIGEN) and hashflow (HFT). According to Tokenomist, over $20,85 million in NEON (44,92% of the circulating supply) will be unlocked on November 7. NEON is currently trading at $0,3767, down 3,73% in the last 24 hours and 90,26% from its all-time high of $3,86. As for ADA, in this case, $6,32 million worth of tokens will enter the market (November 6), XAI will withdraw crypto assets worth $7,14 million (November 9), which is 0,05% and 4,90% of their circulating stocks. ADA is currently trading at $0,332 with a daily loss of 3,22%, which is 89,28% below its all-time high of $3,10. XAI is trading at $0,1769 with a daily loss of 3,83%, which is 88,92% below its all-time high of $1,60. In addition to these major unlocks, on November 5th, the EIGEN crypto project will unlock 0,69% of its circulating supply worth $3,57, and a day later, 0,47% of ENA's circulating supply worth $4,73 million will hit the market. According to CoinMarketCap, ENA is trading at $0,3389, down 8% on the day, putting the token 77,66% below its all-time high of $1,52. HFT is valued at $0,1164, down 0,93% from its all-time high of $2,58; while EIGEN is trading at $2,37, up 24% over the last 2 hours, narrowing the gap from ATH on 47,62%.
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