ETH 2.0 deposits reaching ATH
As we edge closer to the Merge, investors are increasing and are continuing to deposit their holdings in the staking contracts.
According to reports from Glassnode, the total value in the ETH 2.0 deposits reached an all-time high of 12,976,933 ETH, equivalent to $13,807,456,712.
Polkadot’s founder announces steps toward full decentralization with new governance model
Live from Polkadot Decoded in Buenos Aires on Wednesday, Polkadot (DOT) and Kusama founder Gavin Wood announced that the blockchain’s governance model would undergo a new transformation.
Dubbed Gov2, anyone would be able to start a referendum at any time for as many times as they wish in the new setup, similar to initiating new transactions on the blockchain.
STEPN’s DEX surpasses Orca to become largest decentralized exchange on Solana
In mid-June, STEPN launched DOOAR, allowing users to provide liquidity in its native tokens – GST/USDC or GMT/USDC pairs. After only half a month, DOOAR has recorded many impressive achievements.
With about 77,000 daily active users according to data from Dune, STEPN’s DEX DOOAR has surpassed Solana-based DEX Orca, which as recently as Sunday topped STEPN by roughly 6,000 users.
Facebook begins testing Ethereum and Polygon NFTs on profiles
Meta, formerly known as Facebook, has begun rolling out NFTs for some U.S. creators on its flagship social network.
Users will have a “digital collectibles” tab on their Facebook profiles. If deployed widely, users will be able to connect their cryptocurrency wallets to their Facebook profiles. They’ll also be able to turn their NFTs into Facebook posts, which can be reacted to, liked, commented on, and shared just like any other post.
Samsung to begin production of 3nm chips which could be used for mining Bitcoin
Samsung is reportedly trialing the production of 3nm foundry processing for chips enabling Bitcoin miners to operate faster and with less power consumption.
Samsung’s new chip would allow up to 30% reduced power consumption, up to 15% speed increases, while also allowing 33% more transistor density – which makes the hardware more powerful.
“Gray Glacier” upgrade goes live on Ethereum network
Ethereum has rolled out a new scheduled major network upgrade called “Gray Glacier”, pushing the difficulty bomb back another 100 days.
The difficulty bomb is a piece of code responsible for exponentially increasing the difficulty of mining ETH, and thus disincentivizing miners to continue their operations as the network transitions from its current PoW algorithm to PoS consensus model.
52% of Dogecoin addresses remain in profit despite recent price drop
According to data provided by IntoTheBlock, despite being 91.24% down from its May 2021 peak of around $0.73, 52% of all funds invested in Dogecoin remain profitable.
Additionally, 2% of all holders are currently breaking even as 46% are facing losses.
Deutsche bank predicts Bitcoin may reclaim $28,000 this year
According to a Thursday report published by Bloomberg, Deutsche Bank, a German multinational investment bank, has predicted that the price of Bitcoin could recover to $28,000 by the end of the year.
The rationale behind the modestly upbeat prediction is that the stock market is likely to partially recover by the end of the year. Due to a strong correlation with the tech-heavy Nasdaq 100, Bitcoin is likely to recover in tandem with U.S. equities, Deutsche Bank says.
MicroStrategy acquires 480 Bitcoins for $10 million cash
MicroStrategy Inc acquired 480 Bitcoins in cash between May 3 and June 28 at an average price of $20,817 per BTC. This amount of Bitcoin is equivalent to $10 million.
As of June 28, MicroStrategy and its subsidiaries held 129,699 Bitcoins acquired for $3.98 billion.
Addresses holding at least 1 Bitcoin reached ATH
Investors and organizations who have been in the cryptocurrency game for a long time have taken advantage of the crypto winter to accumulate more BTC and other cryptocurrencies.
According to data from Glassnode, the number of addresses holding at least one BTC reached an all-time high of 873,043.