The Block
Quick Take The multi-chain infrastructure project has also received funding from investors including One Comma, Kapley Judge and Associated Corporations, and Cyberrock Venture Fund. EMC plans to set aside $5 million in rewards through two stages of incentive programs, with its two-month public testnet incentive program starting on August 17.
Quick Take Peregrine Exploration has announced a $3.6 million funding round co-led by Polychain Capital and Dragonfly. The funds will be used to develop a stablecoin protocol called Level. Level aims to be the first stablecoin protocol backed by restaked dollar tokens.
Quick Take A Foresight News journalist confirmed they took MakerDAO’s original handle on X during its rebrand to Sky.
IREN reported bitcoin mining revenue of $184.1 million in its financial report for the year ending June 30, 2024 — reducing net losses year-over-year.IREN nearly doubled its self-mining capacity from 5.6 EH/s to 10 EH/s during the period, generating a record 4,191 BTC.
Quick Take Donald Trump released the fourth series of NFT trading cards, “Series 4: The America First Collection,” on August 27. The collection has seen over 22,000 Polygon network sales worth more than $2.17 million. These sales represent only 6% of this collection’s total potential supply of 360,000 NFTs.
U.S. spot ether ETFs returned to net inflows following nine days of negative flows.Spot ether ETFs recorded $5.84 million in net inflows on Wednesday, while spot bitcoin ETFs saw $105.19 million leave the funds.
Quick Take Hong Kong has initiated a sandbox for Project Ensemble, a central bank digital currency project that aims to integrate tokenization into the traditional banking industry. Major participants in the sandbox include Bank of China, HSBC, Hang Seng Bank, Standard Chartered Bank, Ant Digital, HashKey, and Microsoft
Bitcoin is poised for a potential increase in value as the U.S. elections on November 5 approach; however, analysts caution that a sell-off could follow.The largest digital asset by market capitalization is now trading just below the $69,000 mark, with just over one week to go before the U.S. presidential election on November 5.
Quick Take The Telegram-linked network experienced a second outage on Wednesday. TON developers attributed the second outage to the “heavy load” from DOGS memecoin minting, which likely caused the previous six-hour outage on Tuesday.
Ethereum’s infrastructure limitations are leading users, applications, and capital to migrate to Layer 2 solutions and competing blockchains like Solana, an analyst said.Another analyst noted that liquidity fragmentation across Ethereum’s Layer 2 networks poses a risk to market efficiency.
