5 March

“Today the fundamentals of Ethereum are stronger than ever. 1.3 million transactions settle more than $12 billion daily. 74% of all stablecoins are issued on Ethereum, worth $30 billion. More than 5 million unique NFTs have been bought and sold for over $300 million.

Amidst the burgeoning demand to access liquidity and activity on Ethereum, the network is straining under the weight of its own success. Moving more computation to Layer 2 networks is the best immediate solution to Ethereum’s high gas fees, and a number of such networks are already live. What’s missing is a simple user interface for switching between Mainnet and the various Layer 2 networks.

Our new Custom Networks API is our latest step on the way to seamless cross-chain user experiences in MetaMask. It allows developers to recommend a variety of chains to their users, including Layer 2 networks like Polygon (formerly Matic), Arbitrum, and Optimism; sidechains like SKALE and xDAI; and indeed any EVM-compatible chain, including enterprise networks and testnets.”

Federal Reserve Chair Jerome Powell disappointed some traders by offering few signs that the central bank might expand monetary stimulus. The yield on 10-year U.S. Treasury note climbed on Thursday above 1.5%, as disappointment spread among some traders in traditional markets who had bet the Fed might provide specifics on how to tamp down long-term interest rates.

For bitcoin traders who have been betting the cryptocurrency’s price is a good hedge against potential currency debasement, Powell’s comments offered few signs the Fed plans new dovish actions. Such moves might include expanding the U.S. central bank’s $120 billion-a-month bond-purchasing program.

Powell did not deliver.”

“The new service will offer ‘custody, clearing, trade execution, and other capital markets facilities, and act as a centralized hub for crypto liquidity providers,’ according to the announcement. Gemini Fund Solutions was formed in part to hone in on and accommodate the demand for institutional-grade custody services as retail appetite for crypto exposure grows.

While multiple institutions — such as the oldest bank in America, BNY Mellon — have announced that they will be offering custody services, crypto custody entails technical expertise that some tradfi organizations may be unprepared for. Likewise, ETFs designed to reflect holdings in crypto assets necessitates specialized technology and infrastructure — not to mention experience.”

“QuickSwap is quickly becoming the go-to DEX for trading Ethereum tokens off-chain, with its liquidity quadrupling since late February.

QuickSwap is currently the leading second-layer decentralized exchange by daily volume with $38.5 million worth of trades over the past 24 hours. The second-largest L2 DEX by volume is Loopring with $8.4 million, followed by ZKSwap with $2.5 million.

QuickSwap is the center of the Polygon DeFi ecosystem and will grow as the ecosystem grows.”

See Also: All you can eat: SushiSwap deploys contracts on five new networks
See Also: A dark horse in the Ethereum scaling wars? Chainlink’s oracles find fertile ground on xDai

“Anonymous developers have built two controversial decentralized applications (dapps) on Binance Smart Chain (BSC), a smart contract-based blockchain backed by exchange giant Binance, daring the platform to censor the dapps.

The developers apparently hope the offensive and sensitive nature of the dapps would force Binance to get rid of them, proving BSC, unlike Ethereum, is not decentralized and can be controlled by a centralized institution.

One dapp with a token is called Tanks of Tiananmen. It appeared on Binance’s blockchain on Thursday. The name refers to the 1989 Tiananmen Square protests in China, which the Chinese government considers a very sensitive topic. The other dapp, Slavery, showed up on BSC on Saturday. It seems to liken the yield farming mechanism to slavery.”

See Also: Binance Smart Chain ‘copykat’ project loses $31 million in possible rugpull

Latin Americans want cryptocurrencies, and not just as hedges for inflation or savings. They want to be able to spend them, too.

A recent Visa survey shared with Brazilian media revealed that 25% of all credit card users in Latin America would like to experiment with cryptocurrencies. 78% of consumers expect to use new payment technologies in the future—including cryptocurrencies.”

“A piece by famous street artist Banksy is to be sold as a non-fungible token (NFT) – after the original was physically burned in Brooklyn, N.Y., on Wednesday. To be clear, Banksy was not involved. The piece was bought for roughly $100,000. It’s a first for the art industry as NFTs jump into the mainstream consciousness.

The burning was live-streamed through the Twitter account @BurntBanksy, after which the team created an NFT to represent the artwork on the Ethereum-based OpenSea marketplace.

I think [Banksy] would appreciate what we are doing since he also promotes creativity and iconoclastic ideas.”

“The Dallas Mavericks will soon be accepting the meme-based cryptocurrency as part of an agreement with crypto payment services provider BitPay, which is rolling out the coin as a payment option for merchants and consumers.

That BitPay, the largest provider of crypto payment services in the world, is now offering it as a form of payment continues the remarkable recent rise of DOGE. Year to date, DOGE has risen about 1,000%, trading about five cents at press time and now has a market cap of more than $6 billion.”

“Energy Web’s partnership with Volkswagen Group Innovation will develop and test open-source software to enable electricity market participation for electric vehicles. Once this integration is complete, it will become much easier for Volkswagen’s assets to be incorporated into global energy markets.

What we’re talking about is creating an environment where drivers, fleet owners and charging station operators can be incentivized to (or to not) charge at certain times of the day in response to grid conditions.

For example, Morris mentioned that if there was local grid congestion at a particular time of day, Volkswagen drivers could be paid in either fiat or crypto not to charge during that period.

Regarding the role of blockchain, Morris explained that digital identity is at the core of this entire integration. As such, Energy Web works to establish identity for assets, such as EVs, charging infrastructure, solar panels, customers, businesses, grid operators and other energy market participants.”