23 December

“Today, EEA Community Projects announced that SAP has become a sponsor of the initiative in support of the Baseline Protocol project. As a sponsor, SAP joins Accenture, Arca, Chainlink, ConsenSys, the EEA, EY, Ethereum Foundation, Mover, Morpheus Network, Nethermind, Provide, Splunk, and Unibright in providing strategic vision, governance, technical guidance, and financial support for the work.

SAP’s sponsorship is especially important because baselining is all about security in multi-party processes, and SAP technology is the gold standard in secure information management.

Launched in March of 2020, the Baseline Protocol uses advances in peer-to-peer messaging, zero-knowledge cryptography, and blockchain technology to coordinate complex, confidential workflows between enterprises without moving company data out of traditional systems of record.”

“Coinbase said it will link to investment-management software provider Enfusion’s Order Execution Management System to offer institutional customers on Coinbase Prime a way to streamline their crypto trades.

Enfusion’s platform, which is widely used by hedge funds and family offices, allows traders to access multiple assets in one system. The partnership with Enfusion signals Coinbase is betting on the continued growth of institutional interest in crypto trading, and is making moves to court the big players.

See Also: 100 digital payment token firms in Singapore fail to win licenses: Report

“Participation in our micro ether futures contract has grown rapidly since its launch two weeks ago, and we are encouraged by the strong customer adoption and support thus far.

Activity in micro ETH futures may pick up in coming months as focus shifts to Ethereum’s impending upgrade to the proof-of-stake mechanism, dubbed ETH 2.0, and ether gains notoriety as a deflationary asset.

Ethereum net issuance continues to decline with only ~37K ETH issued in November. At this rate, if market demand continues, Ethereum may see its issuance become deflationary relatively soon.”

“Looking at the stock performance of firms with the largest BTC allocations on their balance sheets, it becomes immediately apparent that it was more profitable to hold BTC than those equities — at least this year.

Both Bitcoin and Ether (ETH) have fared significantly better than stocks from companies, such as MicroStrategy (MSTR) and Coinbase (COIN), despite the successes of both.

Further data from the largest publicly traded mining corporations supports the trend. Versus their inception and even stock price at the time of their initial public offering, the vast majority are significantly lower in BTC terms.”

“A report by blockchain data firm Chainalysis earlier this year said DeFi is still dominated by experienced crypto traders and investors, partly due to the costly transaction fees on the Ethereum blockchain. The popular decentralized exchange has deployed on Polygon in a bid to attract more retail traders.

As the largest DEX by trading volume, Uniswap is already deployed on two companion, or layer 2, systems, Arbitrum and Optimism. According to data from Defi Llama, about $62.19 million in value is locked on Uniswap on Arbitrum, while roughly $36.94 million worth of tokens are locked on the Optimism version.

Both numbers are much smaller than the total value locked (TVL) on the Ethereum mainnet version of Uniswap, a staggering $8.75 billion. Polygon is currently the No. 7 chain by TVL.”

See Also: What Is Loopring and What’s Driving Its Rise?