NorthRock identified three main layer 2 networks on Bitcoin: Lightning, RSK and Stacks. Each layer 2 “is complementary and has different goals, but of the three Stacks is furthest along in terms of developing an ecosystem for more traditional crypto applications (NFTs, DeFi, Name Services, etc.),” NorthRock wrote. Source BitcoinLayerMarchPerformerStacksTokenTop CryptoX Portal
NorthRock identified three main layer 2s on Bitcoin, Lightning, RSK and Stacks. “Each L2 is complementary, and has different goals, but of the three, Stacks is furthest along in terms of developing an ecosystem for more traditional crypto applications (NFT’s, DeFi, Name Services, etc.),” NorthRock wrote. Original
An Ethereum-based altcoin has outperformed most of the crypto markets over the last week as the founders of bankrupt hedge fund Three Arrows Capital (3AC) gear up to launch their own exchange. FLEX Coin (FLEX) is the native token of CoinFLEX, a crypto exchange that has recently undergone restructuring and is set to have its assets acquired by OPNX, an exchange launched by 3AC founders Su Zhu and Kyle Davies. OPNX aims to be the first crypto exchange that allows for the trading of bankruptcy claims while also providing standard…
Optimism-based lending protocol Kokomo Finance has been suspected of a $4 million “exit scam” that has seen user funds plucked out from the platform via a smart contract loophole. Blockchain security firm CertiK alerted its followers to the “exit scam” in a March 26 Twitter post, noting that the Kokomo Finance (KOKO) token has plummeted 95% in value in a matter of minutes. CertiK also noted that Kokomo Finance removed all social media accounts immediately following the alleged rug pull too. Kokomo Finance has either deactivated or deleted its Twitter…
Following the Arbitrum token airdrop, ARB has become a top 40 cryptocurrency as it currently holds the 37th largest market valuation out of more than 23,000 listed digital currencies. Currently, there is a circulating supply of 1,275,000,000 ARB, and the Arbitrum Foundation’s DAO Treasury holds 3.52 million or 35.27% of the airdropped supply. Over the past day’s trading sessions, ARB has decreased by 9.8% against the U.S. dollar. Top Ten ARB Addresses Hold 94.41% of Current Circulating Supply According to statistics recorded on Saturday, March 25, 2023, Arbitrum’s native governance…
FTX Ventures invested $101 million in Mysten Labs just months before Sam Bankman-Fried’s empire collapsed. Now, Mysten is buying back the stake (and Sui token warrants) for $96 million through bankruptcy court. Source
The Arbitrum token (ARB) is now trading at around $1.38 across centralized and decentralized exchanges after a turbulent launch. Source
The official claim for the token went live at the Ethereum block height of 16,890,400 at 13:05 UTC. The claim website went down under heavy traffic, as did the blockchain’s block explorer. Arbitrum, which started operating in 2021, is the largest layer 2 blockchain on Ethereum, achieving scalability by using a technique called transaction rollups, which sends batches of transactions to the Ethereum mainnet. Source
The number of daily transactions on Arbitrum rose to a new record high of 1,312,052 on Wednesday, surpassing the previous peak of 1,103,398 reached on Feb. 21, according to data source Arbiscan. The Ethereum mainnet processed around 1.08 million transactions. Source
Arbitrum developers announced an airdrop of its governance token, ARB, to eligible users and DAOs on the Ethereum Layer-2 platform. An average user received around 625 ARB tokens, which corresponds to around $625 to $1,250, according to pre-launch trading prices and popular estimations. The prospect of earning free money has instilled excitement around users looking to hunt the next airdrop opportunity. The airdrop farming activity also benefits the protocols by attracting liquidity and usage to the platform. The strategy is working well for both protocol developers and users. Moreover, the…