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- Crypto Alpha, Week 1 2024
Crypto Alpha, Week 1 2024
All things Crypto, Web3 and Blockchain to keep you updated
TLDR: Uniswap Expand to Bitcoin Sidechain Rootstock, Marathon Digital Breaks Own Mining Record, Solana NFTs Surpass Ethereum NFTs, Celsius Unstakes $470M ETH to Fund Repayments, DYDX Chain Launch Incentives Seasons, Injective Volan Mainnet Proposal & Binance Earmark High Risk Tokens.
Bitcoin Highlights of the Week
The fillings are in, last-minute discussions and changes has been made, and this coming week the crypto community anticipate the SEC will mass approve BTC ETFs as major exchanges post the fillings publicly.
In a significant development for the decentralized finance (DeFi) landscape, Uniswap version 3 (v3) has extended its reach to the Bitcoin sidechain Rootstock. This expansion, facilitated by GFX Labs, the team behind the Oku trading terminal, aims to amalgamate the strengths of Ethereum-based Uniswap with the security features of Bitcoin's proof-of-work network.
While their BTC ETF application is pending for approval, the asset manager VanEck has already pledged future ETF profits. VanEck announced this week that 5% of its profits generated by their BTC ETF, will be pledged to BTC core developers through nonprofit organization Brink.
The Florida-based BTC mining company, Marathon Digital, have surpassed their own previous mining record. Marathon announced, that in December 2023 it mined 1,853 BTC which was a 56% increase from November 2023 and a 290% increase from December 2022.
This week, BTC mining company Cipher Mining announced their latest purchase of 16,700 new miners ahead of Bitcoin halving, increasing their total mining capacity to 8.4 exahashes per second (EH/s).
Ethereum Highlights of the Week
In December 2023, Solana NFT sales surpassed Ethereum NFT sales by a margin of $366.5M against $353.2M. This underlines Solana’s growing popularity in the crypto community.
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