Daily Notes 27-02-2024
Developments
Ethereum's Dencun Mainnet Upgrade Set for March 13, 2024
Dencun Mainnet upgrade expected for March 13, 2024 at 13:55 UTC (epoch 269568).
Binance Bitcoin Perpetual Futures Funding Rate Surges to 100%
The annualised Binance Bitcoin perpetual futures funding rate exceeded 100% for the first time since late 2021.
Uniswap Unveils Upcoming Uniswap Extension, Opens Waitlist
Uniswap introduced the upcoming Uniswap Extension. Uni.eth users can join the waitlist.
Arweave Launches Public Testnet for New Arweave AO Chain
Arweave launched the public testnet for Arweave AO, a chain built on-top of Arweave’s data platform.
Aerodrome Announces Major Investment by Base Ecosystem Fund
Aerodrome announced that the Base ecosystem fund (led by Coinbase Ventures) market bought an $AERO position.
Binance Labs Backs Bitcoin Staking Protocol Baylyon
Binance Labs invested in Babylon, a Bitcoin staking protocol.
ENS DAO Resolves eth.link Domain Dispute with $300,000 Settlement
ENS DAO will pay Manifold Finance’s proposed $300,000 settlement to end the eth.link domain dispute.
Initia Blockchain Secures $7.5 Million in Funding for Q2 2024 Launch
Initia, a rollup focused blockchain aiming to launch in Q2 2024 and founded by former Terra and Cosmos developers, raised $7.5 million in a SAFT funding round.
Aave Moves to Deprecate Stable Rate Mode After Community Approval
An Aave Request for Comment proposal to fully deprecate stable rate mode passed.
OKX Expands with New Crypto Exchange in Turkey
OKX opened a crypto exchange in Turkey, ‘OKX TR’.
Cycle Network Closes Multi-Million Dollar Investment Round
Cycle Network, an omni-chain trustless distributed ledger, secured a “multi-million dollar investment in its initial funding round”.
Trending Assets
Below $100M MC by performance, on chain
AERO increased by 114%, VELO rose by 81.73%, and FOLD increased by 45%.
Above $100M MC by performance, on chain
PNG had a good day, and is up 46.41%, MOG is up 43.65%, and PANDORA advanced by 29%.
Above $1B MC by performance, on chain
PEPE surged by 84.64%. We’re seeing a rise of old ETH memecoins, with both PEPE and MOG doing well. While SHIB and CRO experienced more modest increases of 11.36% and 7.66%, respectively.
Trading Volumes
PEPE, ezETH, USDe, ILV, and UNI dominated on-chain volumes.
TVL
TVL Above $10M
Over the past day:
Hawksight, a yield optimizer on Solana, TVL grew by 278%.
Gearbox, a lending and prime brokerage, TVL grew by 215.28%.
Helix, a spot and derivatives dex on Injective, TVL grew by 62.78%.
Fees
Ethereum fees earned are up by 39%, Tron fees earned are up by 45.43%, Arbitrum fees earned are up by 43.08%, and Optimism fees earned are up by 78.47%.
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