The Block
Quick Take Farcaster’s latest and biggest wave of attention has resulted in a surge of protocol revenue. Yet the platform faces risks of following in FriendTech’s footsteps unless it can keep its users.
Quick Take Lured by cheap electricity costs and rejected by their native country, Chinese crypto mining companies are increasingly investing in operations in Ethiopia. However, an uncertain political situation presents potential risks, according to a report in Bloomberg.
Quick Take The volume of NFTs traded on Ethereum in the past week is at its highest level since late February last year, according to data from The Block. The increase in volume comes as Pudgy Penguins threatens to replace Bored Ape Yacht Club as the NFT collection with the second-highest market cap, after CryptoPunks.
Quick Take Analysts from Grayscale have released a report detailing how the upcoming Bitcoin block reward halving will affect activity on the world’s biggest blockchain. According to Grayscale, miners have prepared by raising money and selling coins in late 2023, while Ordinals inscription transaction fees provide a robust alternative to block rewards for miners.
Quick Take The FTX Debtors estate has filed to sell Digital Custody Inc., a subsidiary it acquired by August 2022 for a total of $10 million, to CoinList for just $500,000. The purchase is being financed by the former CEO of Digital Custody Inc., Terence Culver, though the Debtors may solicit better bids until three days before the motion is heard.
Quick Take: Sports-themed, digital collectibles brand NFL All Day issued promotional NFT packs to coincide with the playoffs and Super Bowl while a Tom Brady token sold for over $40,000. Dapper Labs, which is the creator of the collection, convinced retired NFL legends Joe Montana and John Elway to promote the digital collectibles as some of the NFTs showcase iconic moments from their respective careers.
Quick Take Genesis Global Holdco filed a motion in the U.S. Bankruptcy Court in the Southern District of New York on Thursday asking the judge to approve a settlement.
Quick Take After a continued investigation, NYAG Letitia James said the office became aware that more investors were defrauded, leading to an additional $2 billion in assets that were lost, according to a statement released on Friday.
In the past 24 hours, the fully diluted valuation of bitcoin broke through the trillion dollar mark for the first time since November 2021.Changing spot ETF flow dynamics has been a factor in bitcoin’s recent rally, according to an analyst.
Quick Take The TVL of Ethereum-based restaking protocol EigenLayer has surged to nearly $6 billion following its deposit cap lifting on Feb. 5. The temporary removal of EigenLayer’s TVL caps comes to a close at 3 p.m. ET today, though it plans to lift caps permanently in the future.
