The Block
Quick Take Avalanche users have paid millions of dollars to mint and move inscription-related tokens over the last five days. This appears to be due to a big increase in network activity.
Quick Take Data network Masa is set to launch a decentralized data marketplace on an Avalanche subnet. Masa received an investment from Avalanche’s Blizzard Fund to help develop the platform.
Quick Take MilkyWay released the first liquid staking protocol for the Celestia network. It includes milkTIA tokens, representing staked TIA positions.
Digital asset investment products recorded their first net outflows in 11 weeks — led by Bitcoin.Solana, Cardano and XRP bucked the trend.
Quick Take A Solana Saga phone sold for $5,000 on eBay today, with the “floor” price of the phone hovering around $2,000, as hype around BONK and potential future airdrops continues. Owners of Solana’s phone can claim a token that entitles them to airdrops including a free airdrop of the BONK meme coin.
Quick Take The FTX debtors estate filed its amended Chapter 11 Plan of Reorganization today, which contains a provision that treats cryptocurrency claims as their value in cash at the time of the bankruptcy filing on November 11, 2022. The price of most cryptocurrencies have recovered since the bankruptcy; the price of Bitcoin was around $17,000 at the time, and now trades above $42,000.
Quick Take In a recent letter shared with U.S. legislators, Tether’s CEO has elaborated on his methods to prevent unsavory individuals from using the company’s UST stablecoins, including by onboarding the Secret Service and FBI to the company’s platform. Tether froze wallets on the U.S. sanctions list last week, and claims to have frozen 435 million UST so far.
Quick Take NFT Trader has suffered a hack on “old smart contracts,” letting at least one hacker make off with high-value NFTs worth millions of dollars, including several Bored Ape Yacht Club and Mutant Ape Yacht Club NFTs. NFT Trader has warned users to revoke access to two compromised smart contracts as the main hacker demands ransom payments for the stolen NFTs.
Quick Take Arbitrum stopped processing transactions for around 1.5 hours on Friday due to a surge in inscriptions.
Bitcoin has pulled back below the $42,000 level, causing almost $16 million in long liquidations.Conversely, major stock indices continued to post gains two days after the Fed’s latest rate pause.
