Coindesk

The Ethereum blockchain's transactional revenue has increased substantially since Donald Trump's U.S. election victory, Steno Research said in a Monday report."This outcome is crucial for all onchain activity," wrote analyst Mads Eberhardt.The surge has led to higher staking rewards and more ether (ETH) being burned via transaction fees, the report said."This combination strengthen's Ethereum's tokenomics," Steno said, making ether a more appealing asset.Steno noted that the amount of USDT on the Ethereum network surpassed supply on the Tron blockchain for the first time in more than two years. This is a clear sign that on-chain activity is booming, resulting in greater demand for ether to facilitate transactions and higher transactional revenue.The number of daily transactions on Ethereum layer-2 networks, or...

XRP prices have zoomed 430% in the past 30 days, reaching price levels last seen in 2018 and leaving scores of Crypto Twitter traders surprised with the strength. The rise started in early November after the Republican victory in the U.S. election reignited investor confidence in tokens linked to U.S. companies, including XRP's associated Ripple Labs.Large holders are playing a key role in contributing to the move. CryptoQuant data shows whale activity – which tracks movements from large wallets to and from exchanges – has been consistently elevated since the past month, multiples higher than any other period.Whales can move markets with their buying or selling pressure, and tracking this can indicate their market sentiment.For instance, if the cryptocurrency's inflow...

DeFi protocol Ethena announced Tuesday a new partnership with Derive.xyz, the world's leading on-chain options and structured products platform, featuring a multi-million dollar investment to enhance liquidity and drive growth for both protocols.Under the partnership, Ethena will integrate Derive's basis trading, options, futures and vaults, leveraging Ethena's USDe stablecoin and staked USDE to boost liquidity and trading volume, the press release shared with CoinDesk said. Ethena will begin its basis trading on Derive’s perpetual markets, pending approval from the Ethena Risk Council. That's expected to boost volumes and liquidity on Derive, bolstering Derive users' ability to execute large orders at stable prices.In conjunction with this, the Lyra Foundation, which oversees the Derive protocol, will receive a multi-million dollar grant from...

21X, a Frankfurt-based company building a blockchain-based exchange to list and trade tokenized securities, has received approval to go live from Germany's financial supervisory authority, BaFin.The 21X exchange, which runs on the scalable Polygon chain, plans to launch its exchange for tokenized financial instruments from its Frankfurt headquarters in the first quarter of 2025, the company said on Tuesday.The plan is to trade tokenized equity, debt securities, funds, as well as more exotic real-world assets (RWAs) such as real estate or artworks that qualify as eligible financial instruments.Tokenization has become popular among traditional finance firms, with the likes of asset manager BlackRock now driving the trend. From a regulatory perspective, Europe is on the verge of welcoming a new regime...

During the dog days of summer, Polymarket’s election betting surged on (correct) speculation that the Democrats would make a "hot swap" of Joe Biden for Kamala Harris as their presidential candidate. Trading volume grew and grew through the fall. All along, doubts lingered about whether the platform’s trader base would hold steady after the ballots were cast.On Election Day, the research arm of gaming and VC giant Animoca put out a report with a bold prediction: there's nothing for Polymarket to worry about. The crypto-based prediction market, according to the report, had a significant base of non-election bettors to carry it through.Naturally, there would be smaller numbers – what can be as captivating as a political face-off involving Donald Trump?...