Crypto News
Ethereum Developers Launch New Testnet for Pectra Upgrade After Earlier Setbacks
Following two problematic tests of Ethereum's upcoming Pectra upgrade, the network's core developers decided on Thursday to create a new testnet to demonstrate the code update a final time before deployment."A new testnet, Hooli, is going live Monday to wrap up Pectra testing," said Tim Beiko, who coordinates the ecosystem's core developers at the Ethereum Foundation, in an X post following a developer call on Thursday. Pectra will be tested on Hooli on Wednesday, March 26 — when the test chain will be upgraded to the new version of Ethereum and evaluated for performance and stability.Pectra includes several code changes designed to make Ethereum faster, more efficient, and more user-friendly for both users and developers. One of the most significant...
Tokenized Treasuries Hit Record $4.2B Market Cap as Crypto Correction Fuels Growth
As cryptocurrencies have been battered in a broad-market correction over the past weeks, digital asset investors sought refuge in tokenized U.S. Treasury products.Since late January, the combined market capitalization of Treasury-backed tokens grew $800 million to hit a fresh all-time record of $4.2 billion on Wednesday, data source rwa.xyz shows.Real-world asset platform Ondo Finance's (ONDO) products, the short-term bond-backed OUSG and USDY tokens, climbed to just shy of $1 billion combined, a 53% surge in market value over the past month. BUIDL, the token issued jointly by asset manager BlackRock and tokenization firm Securitize, gained 25% during the same period to surpass $800 million. Asset manager Franklin Templeton's BENJI token expanded to $687 million, a 16% increase, while Superstate's USTB...
Senate Stablecoin Bill Passes Out of Committee With Strong Bi-Partisan Support
The bill’s sponsors say they intend for the GENIUS Act to receive a full vote on the Senate floor by the end of next month.Source link
Venice Burns One Third of Total Token Supply
The burn was conducted after the conclusion of Venice’s airdrop, which began at the end of January and ended on Wednesday. Crypto AI Startup Venice Burns $100M in Tokens Bitcoin and crypto entrepreneur Erik Voorhees’s Privacy-focused AI startup Venice concluded its airdrop on Wednesday after distributing 17.4 million Venice tokens (VVV) to more than 40,000Source link
Bitcoin’s Role in DeFi Is ‘Untapped Opportunity,’ Binance Research Says
Bitcoin's (BTC) role in decentralized finance (DeFi) is growing as the world's largest cryptocurrency evolves from more than just a store of value, Binance Research said in a report Thursday.The Bitcoin network is "evolving into a broader decentralized finance ecosystem with the emergence of Bitcoin DeFi," analyst Moulik Nagesh wrote.This is a sector that "unlocks bitcoin's capital efficiency" with the use of financial applications focused on lending, staking, stablecoins and decentralized exchanges (DEX's), the report said.DeFi is an umbrella term used for lending, trading and other financial activities carried out on a blockchain, without the need for traditional intermediaries.Binance noted that only ~0.8% of the bitcoin supply is currently being used in DeFi, and this presents a large "untapped opportunity."...