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When L3s started trending, they were met with initial skepticism — but as more use cases emerge, the clearer their need becomes
Quick Take In a new blog post, Ethereum co-founder Vitalik Buterin has shared his thoughts on three issues core to Ethereum’s decentralization: MEV, liquid staking, and the hardware requirements of nodes. In Buterin’s view, many of the concerns around Ethereum’s centralization can be addressed through smart protocol design and upgrades, some of which are already in progress.
Quick Take This is an excerpt from the second edition of The Block’s The Funding newsletter sent to our loyal readers on May 18. The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member. To subscribe to the free newsletter, click here.
TON is slowly capturing the Layer 1 market share with a notable performance so far.
Reported holdings of spot bitcoin ETFs were a mere fraction of the total cumulative trading volume during the first quarter.Holders made up a diverse set of financial institutions including Morgan Stanley, a hedge fund that manages the endowments of Yale University and Princeton University, and the State of Wisconsin Investment Board.
- 10:43In December 2024, the combined spot and derivatives trading volume of CEX reached a record high of 11.3 trillion US dollarsAccording to Cryptonews, the latest market report from CCData shows that by December 2024, the total trading volume of spot and derivatives on centralized cryptocurrency exchanges (CEX) reached $11.3 trillion (up 7.58%), setting a new historical high. The trading volume of crypto derivatives also surged significantly, increasing by 7.33% to reach $7.58 trillion, setting a new monthly high for derivative trading volumes. CCData pointed out that liquidation volumes have soared as traders try to profit from market volatility. The trading frenzy in December coincided with Bitcoin's historic rise; on December 5th, Bitcoin broke through the $100,000 mark for the first time and reached its peak at $108,249 on December 17th. Pierre Rochard, Vice President of Research at Riot Platforms stated that this surge marks a significant reversal after two consecutive years of declining trade volumes since 2021. During the bull market period in 2021, Bitcoin's trading volume peaked at $47 trillion but then fell sharply over subsequent years.
- 10:29Sonic Labs Releases Details of S Token Airdrop ProgramOn January 15, Sonic Labs (formerly Fantom) released the details of the S token airdrop plan. Users can obtain points through three ways: The first category is passive points, which users can obtain by holding whitelisted assets in Web3 wallets (such as Rabby, MetaMask and hardware wallets), but centralized exchange holdings are not counted; The second category is activity points, which are obtained by providing whitelisted assets as liquidity in participating projects; The third category is DApps points, where developers can compete for allocations called "Sonic Gems" and distribute S tokens to users through a custom points plan. The project party emphasized that the first two types of points have nothing to do with the specific applications used, and users can increase their income by finding applications with the best points plan. Among them, scUSD and scETH are provided by Rings Protocol.
- 10:27A new wallet withdrew 2884 ETH from CEX, equivalent to about 9.57 million US dollarsAccording to Lookonchain monitoring, 30 minutes ago, a newly created wallet withdrew 2884 ETH (9.57 million USD) from CEX.