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Cardano blockchain activity in the second quarter grew in both value locked and transactional metrics from the first quarter amid technical improvements and a rise in developer interest, a report by analytics firm Messari shows. While decentralized exchange Minswap showed the largest absolute growth, several new decentralized applications, or dapps, also contributed to the increase. The report, which was commissioned by Cardano developer Input Output, compared second-quarter developments against first-quarter figures. It noted that while transaction activity grew, the number of active daily users decreased 4% — the fourth drop in address activity in the past five quarters. 'The ratio of transactions to active addresses has been growing steadily over the past five quarters, suggesting that the average user is more active now than they previously were,' the report said. 'In Q2, the Transaction / Active Address ratio of 1.19 was up 6.1% QoQ and 13.2% YoY.' Blockchain load — a measure of how much data is contained in blocks over a certain period — rose to 50% from under 40% in the previous three months. It peaked at 81% in May. DeFiLlama data shows that $175 million worth of tokens are locked on Cardano as of Monday, the highest level for this year, but still about 50% below a lifetime peak of $340 million hit in May 2022. Such activity comes on the back of key Cardano upgrades since the start of this year. A change to reduce 'epoch' transitions and make the blockchain smoother for network users took effect in June. Epochs refer to the time periods on Cardano, with epoch lasting 432,000 slots and each slot being one second. ADA tokens are staked during these epochs during which new blocks on the Cardano network are produced, potentially increasing demand for the tokens as block rewards become more lucrative, based on activity. In March, a feature on Milkomeda, a network that connects blockchains to the Ethereum Virtual Machine, or EVM, began to allow Cardano blockchain users to gain access to EVM smart contracts with any cardano (ADA) wallet, expanding the ecosystem's usefulness. An Ethereum Virtual Machine is where all Ethereum accounts and smart contracts live, serving as a virtual computer used by developers to create dapps. The new feature will allow Ethereum application developers to build on Cardano’s network using Solidity — the computer language used to code Ethereum — without needing to install new toolkits or learn a new computer language. Such applications can then be used solely with Cardano tokens instead of ether (ETH), the native token of the Ethereum network, increasing the tokens' utility for holders.Investors are flocking to meme coins like Pepecoin (PEPE) and other newly issued tokens in the hopes of replicating the success of the controversial cryptocurrency. However, the trend has the potential to disrupt the huge rallies bitcoin and ether have seen this year. Despite the shocking magnitude of PEPE's rise, finding the next big meme coin is next to impossible, with every winner surrounded by the ashes of many failures. On-chain data makes it easy to track whale activity, and several newly issued meme tokens have surpassed PEPE in trading volume over the past weekend. The meme coin trend has essentially created a black hole that sucks liquidity out of the market, potentially impediment for other cryptocurrencies like bitcoin (BTC) or ether (ETH).Synapse's native token, SYN, recovered from a 25% slump on Monday after a liquidity provider sold 9 million tokens. The protocol, which transfers data to cross-chain bridges, rebounded 17% to $0.358. The sell-off was attributed to a liquidity provider identified as Nima Capital. The protocol's total value locked (TVL) is $113 million, according to DeFiLlama. Despite the recovery, the token has lost some gains and is currently trading at $0.358. The protocol's team has stated that there was no security breach of the protocol or bridge. The sell-off was attributed to a liquidity provider identified as Nima Capital. Volume of SYN trading ballooned in the days following the sell-off, with over $25 million being recorded in the past 24-hours. The protocol has a TVL of $113 million, according to DeFiLlama. Nima Capital had not responded to an email request for comment by publication time.Users who held assets on bankrupt crypto exchange FTX and lender Celsius Network can now trade their claims on the Open Exchange (OPNX). According to a press release, claims can be converted into the platform's reborn OX (reOX) or oUSD tokens. This offers immediate liquidity, control over funds, and the chance to participate in market opportunities. The tokens can be used as collateral to trade on OPNX. The platform was co-founded by CoinFlex's Mark and Leslie Lamb alongside Three Arrows Capital's Kyle Davies and Su Zhu. Three Arrows Capital was one of the first dominos to fall in last year's cryptocurrency bear market. Edited by Sheldon Reback.Crypto investors looking to earn yields on their ether (ETH) holdings have to wait nearly a month before they can be set up as network validators on Ethereum. Data from two sources show waiting times for staking ether lingers at 640 hours, or about 26 days. Exiting the network, on the other hand, takes just 0.013 hours, or less than a minute. As of May, nearly 50,000 validators are waiting in a 'queue' to be able to enter the network, data shows. The demand for validators to enter the network and earn the nearly 5% annual yield is likely stemming from large ether holders who do not want to cash out and instead just want to earn some passive income on their holdings. Some market watchers say these upcoming validators could be a mix of both new market entrants as well as stakers who previously unstaked ether from the network to test if the process works seamlessly and are now entering again. Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that occurred simultaneously on April 12, gave investors the ability to withdraw their staked ether at will for the first time. As such, staking deposits have surged in the past few weeks. More than 200,000 ether were deposited to the network last week, marking the first time deposits had outpaced withdrawals since Shapella went live last month. These additions have brought the number of ether locked for staking purposes to over 19 million tokens – about 15% of the total circulating supply.

The newly launched zkSync Era blockchain is seeing brisk activity as value locked on the network crossed $100 million this past weekend amid a flurry of new token releases. Data from L2Beat shows over $69 million worth of ether (ETH) and nearly $30 million in USD coin (USDC) stablecoins have been locked on zkSync. The amount is likely distributed among several zkSync-based projects for purchasing ecosystem tokens or providing liquidity to exchanges on the network. The value locked on zkSync has climbed to over $100 million. More than 3.3 million transactions have been conducted on the network since it went live on March 24. The network can process 4.4 transactions per second. The network supports 'ZK rollups,' which are a type of blockchain scaling system based on cryptography known as zero-knowledge proofs. These features are seen as a key advance in speeding up blockchain transactions and reducing the cost of network activity. Populating the zkSync ecosystem are decentralized-finance tokens, which power lending, trading, and borrowing services, and meme coins fashioned after the popular Shiba Inu dog breed. DefiLlama data shows that decentralized exchanges SyncSwap and Mute hold over $30 million in locked tokens. Mute's native MUTE tokens have a market capitalization of $47 million. SyncSwap hasn't issued tokens as of early April. Over $19 million is locked on SyncSwap's liquidity pool for USDC and ether - which is paying annualized yields of 46%, or one of the highest figures in the crypto market as of Monday. As such, meme coins are making a mark as well. DEXScreener data shows tokens such as ZKDoge, ZKInu, and ZkSync SHIB have attracted millions of dollars in trading volumes since their recent launches. Traction on these meme-coin tokens has been tepid so far, with highly volatile prices and market capitalizations of under $5 million. Some say the zkSync launch has been muted relative to the hype, however. 'The recently launched zkSync Era mainnet is a sign that the evolutionary trend in the overall blockchain ecosystem is unimpeded; however, the low number of projects building on it is a sign that the Web3.0 world isn't fully prepared to welcome this innovation for now,' Maia Benzimra, head of institutional marketing at SpoolDAO, said in a Telegram message. Benzimra added that adoption may surge quickly as and when more innovative projects are built for users. 'The trend can change within the twinkling of an eye when innovative products building solutions that address the core needs of users are designed and launched. zkSync is notably a major upgrade for addressing the scalability of the Ethereum protocol, and in no time, it is bound to find its rhythm and carve out a functional niche for itself in the ecosystem.' Edited by Parikshit Mishra.Shiba Inu developers are working towards a public restart of the Shibarium network after a much-hyped launch was marred by network issues and a faulty bridge. The network was closed to the public following the issues, but developers are now monitoring validator data and transactions before a planned reopening. The project's key developer, Shytoshi Kusama, announced that the network is almost ready to reopen and has implemented new mechanisms to prevent a repeat of the outage. The Shibarium network is an Ethereum layer-2 network that uses SHIB tokens as fees and has a focus on metaverse and gaming applications. A testing period for Shibarium saw significant success, but the launch was plagued by issues, causing SHIB prices to plunge 10%. Developers have since responded to the outage, stating that there was no bridge issue and that the problem occurred due to an unprecedented mass influx of transactions from users. The network is set to reopen once the errors are fixed, and validators are already being allowed to start taking initial steps for the reopening. SHIB prices were down 4.3% in the past 24 hours, according to CoinGecko data.The application has zoomed to becoming the second-largest revenue maker among crypto protocols in just over two weeks. The newest crypto “killer app” seems to be social tokenization protocol Friend.tech, and it has proven to be an absolute money printer for developers so far. Friend.tech, which lets X (formerly Twitter) personalities issue shares on its app for access to a closed group chat, has made over $1.04 million in fees, set at 5% of the value of each transaction over the past 24 hours. That’s banked the platform some $709,000 worth of ether in revenue (what the platform takes after paying out gas fees and other costs), data from DefiLlama shows. Such growth has come in a very short time, even for crypto’s fast-moving standards. Friend.tech’s invite-only beta launched on August 10 and racked up some 4,400 ETH (about $8.1 million) in trading volume on the first day. The app is built on Base, crypto exchange Coinbase’s new layer-2 network. Shares of some crypto X personalities, such as Cobie and Hsaka, jumped to as much as three ether, or nearly $5,000 at current prices, in a few days. Friend.tech is also taking the scam-riddled Base by storm. Last week, the network reached 136,000 daily active users – overtaking layer 2 networks Arbitrum and Optimism – much of which is attributed to the app’s users. These group chats are quickly evolving into intimate community experiences for share buyers. Trading personality @RookieXBT is dangling revenue shares and X premium subscriptions to holders, while @DeFiMaestro is sharing token picks for a trading challenge. Meanwhile, the hype could just be getting started. A slew of personalities outside of crypto circles on X joined Friend.tech over the weekend – opening the floodgates to possible crypto adoption among the general populace, some opine. Richard “FaZe Banks” Bengtson II, co-founder of the influential esports community FaZe Clan, joined the platform late Sunday and saw his share prices quickly become among the costliest. Elsewhere, NBA player Grayson Allen saw shares surge quickly in mere hours after joining. “I’ve always thought the idea of betting on the success of especially YouTubers/ streamers success would be cool,” FaZe Banks tweeted. “Outside of just time and resources. I’ve discovered so many talented people, a product like this is perfect for that.”Developers behind the Optimism-based lending platform Kokomo Finance have been accused of conducting an exit scam after manipulating tokens on the protocol to steal $4 million in user funds. The project, which launched on Saturday and quickly gained favor among users, allowed for the trading, borrowing, and lending of wrapped bitcoin (WBTC), ether (ETH), tether (USDT), USD coin (USDC), and dai (DAI). However, on Sunday night, the developers deployed an attack contract cBTC from the main address of KOKO, Kokomo's native token, and set the reward speed, paused a borrow feature, and created a malicious contract to interact with the rest of the protocol. This ultimately tricked the protocol into falsely believing it had more liquidity when there was none. Another developer address was then used to maliciously approve a transfer of spending more than 7,000 sonne wrapped bitcoins, which were then used to swap all user-supplied liquidity to Kokomo, amounting to over $4 million. Social-media accounts and the Kokomo website were quickly deleted, and the tokens fell 97%, wiping nearly all value for holders. The exit scam is the latest in a series of growing attacks and exploits in the crypto market, following an earlier $200 million exploit of Euler Finance, another lending platform.Shiba Inu developers are working towards a public restart of the Shibarium network after a much-hyped launch was marred by network issues and a faulty bridge. The network was closed to the public following the issues, but developers are now monitoring validator data and transactions before a planned reopening. The project's key developer, Shytoshi Kusama, announced that the network is almost ready to reopen and has implemented new mechanisms to prevent a repeat of the outage. The Shibarium network is an Ethereum layer-2 network that uses SHIB tokens as fees and has a focus on metaverse and gaming applications. A testing period for Shibarium saw significant success, but the launch was plagued by issues, causing SHIB prices to plunge 10%. Developers have since responded to the outage, stating that there was no bridge issue and that the problem occurred due to an unprecedented mass influx of transactions from users. The network is set to reopen once the errors are fixed, and validators are already being allowed to start taking initial steps for the reopening. SHIB prices were down 4.3% in the past 24 hours, according to CoinGecko data.

The attacker behind a takeover of Tornado Cash DAO has apparently started to move their illicitly gained tokens, blockchain data shows. Addresses tied to the attacker moved 100 ether (ETH) and 38,000 torn (TORN) tokens in two transactions using the Tornado Cash protocol on Wednesday night, Etherscan data shows. The DAO handling the privacy-focused crypto mixer's operations, funds, and future plans was taken over by an unidentified attacker, or attackers, on Saturday. The attacker holds over 20 ether ($35,684) in their wallet and continues to have access to potentially all of Tornado Cash’s treasury funds. The attacker floated a malicious proposal that hid a code function that granted them fake votes that can now be used to handle some aspects of Tornado Cash, such as torn tokens held in the main governance contract or withdrawal of locked torn tokens. DAOs, short for decentralized autonomous organizations, allow token holders to lock up their holdings as votes for proposing changes to a project. These changes can range from deploying treasury funds to purposes that benefit the project to expansion on other networks. The attack does not impact the actual Tornado Cash protocol – which allows users to pass funds through the service to mask or obscure the movements of funds and crypto addresses. As such, there’s still hope for Tornado Cash. The attacker floated a proposal to revert all malicious changes before the takeover earlier this week – sending torn prices up 10% at the time. The proposal looks as though it will pass when voting closes on May 26, though it's unclear when the action will be executed. However, if it does, the malicious code will be removed, and the governance of Tornado Cash's DAO will go back to token holders.A proposal to split Rook's nearly $50 million crypto treasury between Rook Labs and a new community-run entity called Incubator DAO is gaining traction, with the token price surging ahead of the vote. The proposal aims to divorce the project's tech from its governance token, and would see Incubator DAO inherit the old DAO's unique representative democracy structure. The move has been praised as a win-win for both Rook Labs and token holders, with the former gaining sufficient capital to develop products while the latter receives a return of value. The token itself has nearly tripled in value since late March, and the debate over the project's future has attracted investors of many stripes. Some have voted with newly-acquired bags, and the single-largest 'yea' position in the poll to create Incubator DAO was voted by a wallet controlled by insiders at crypto yield project TempleDAO. However, the TempleDAO wallet has already started selling some of its ROOK tokens on decentralized finance (DeFi) exchanges.The price of Optimism (OP) tokens has fallen 7% ahead of a planned unlock of over $587 million worth of Ethereum scaling protocol tokens, leading to a significant increase in the circulating supply. The unlock, which is set to take place on Tuesday, will nearly double the current supply of OP tokens, which stands at 335 million. Early investors and contributors hold over 386 million tokens, and the move is expected to lead to significant selling pressure, with immediately available liquidity on OP token pairs across decentralized and centralized exchanges standing at under $10 million. The unlock comes as OP tokens have been on a general downturn since February, sliding from $3 to $1.5 despite gains of at least 50% for bitcoin (BTC) and ether (ETH) in the same period. OP trades at $1.50 as of Tuesday, with a trading volume of $103 million over the past 24 hours. The move is expected to lead to a significant increase in the supply of OP tokens, potentially leading to a decrease in price.Chainlink's LINK token has seen a significant surge in value this week, with wealthy investors swapping ether for link following the release of the company's Cross-Chain Interoperability Protocol (CCIP). On-chain data shows that some whales have added upward of $6 million to their link holdings, lifting prices as much as 6%. The increased demand has helped extend weekly gains to over 25%. CCIP is designed to help build cross-chain applications and services, and is now available to all developers across five testnets. Prices of other oracle protocols, such as Band Protocol and Uma, have also risen in the past 24 hours. Oracles are blockchain-based services that fetch data from outside a blockchain, and Chainlink's CCIP is a significant development in the space. The article is well-written and provides a clear overview of the current state of the market and the impact of Chainlink's release.A rise in open interest shows more participation from crypto traders and a bullish market sentiment, a trading firm said.Open interest in bitcoin (BTC) across crypto derivatives exchanges has surged to $10 billion, a five-month high after leverage subsided in the wake of FTX's collapse in November, according to data from Coinalyze.A rise in open interest, which is a metric that assesses the value of all unsettled derivatives positions, alongside an increase in price is often used to confirm the legitimacy of a move. At the time of writing, bitcoin was trading at around $30,000 after it surged to a 10-month high of $30,540 on Tuesday.Zahreddine Touag, head of trading at Woorton, a crypto trading firm and liquidity provider, said that bitcoin broke out in a 'global risk-on environment,' with the Nasdaq also rising by 10% in the last 30 days.'We think this move is driven by technicals, BTC broke a major resistance at $28.5k and rebounded on its 2023 bullish trendline,' Touag said.'We noticed futures open interest has been moving up vertically which shows more participation from crypto traders and a bullish market sentiment,' he added.'For now, we do not see signs of extreme exuberance; indeed, the fear and greed index is at 61, funding rates are still negative on many exchanges for BTC while short-sellers did not capitulate yet. We will monitor these metrics to predict a potential trend reversal.'It's worth noting that an increase in open interest means that whilst short-sellers have added to their shorts in this region, traders betting on long trades are doing so with leverage that may unwind if price begins to reverse.A total of $98 million in crypto derivatives positions have been liquidated in the past 24 hours as bitcoin momentarily slipped below $30,000, according to CoinGlass.UPDATE (April 10, 2023, 20:03 UTC): Updates quote attribution.Edited by Parikshit Mishra.

Trading firms were quick to jump on the USD coin (USDC) long trade last weekend as the stablecoin, which was meant to be pegged 1:1 to the U.S. dollar, fell to as low as 87 cents on news that Circle Internet Financial, the token's issuer, had exposure to Silicon Valley Bank, the bank that collapsed last Friday. The concerns prompted a wave of USDC sales across decentralized-finance platforms, with a pool on decentralized exchange Curve comprising three equally weighted stablecoins becoming unbalanced as the supply of USDC skewed. One wallet received $215 million of tether from Binance before executing 59 transactions that involved swapping USDT for USDC and the DAI stablecoin, making a profit of around $16.5 million. The arbitrage opportunity of trading tether, which retained its dollar peg, with USDC when it traded below 90 cents was huge, but not without risk. The resilience of USDC in what appeared to be a desperate situation demonstrates the risk-taking approach of crypto traders. Tether, the largest stablecoin by market cap, has suffered numerous deviations from its peg over the years, and yet it remains a critical part of crypto despite regulatory scrutiny.The attackers behind the recent $35 million exploit of crypto wallet Atomic Wallet are moving stolen funds via OFAC-sanctioned exchange Garantex, according to blockchain security firm Elliptic. The infamous North Korean hacking group Lazarus is believed to be responsible for the hack, and the stolen funds have been laundered through a bitcoin mixer service called Sinbad. Nearly $35 million worth of various tokens were stolen from Atomic Wallet on June 3, including bitcoin, ether, tether, dogecoin, litecoin, BNB coin, and Polygon's MATIC. Garantex, which was sanctioned by the Office of Foreign Assets Control (OFAC) last year for its lax anti-money laundering measures, continues to operate and has allowed the hackers to freely move the stolen funds. Several crypto exchanges have already frozen addresses related to the Atomic Wallet hack, but some funds have found their way to Garantex. The bitcoin was then laundered through Sinbad, a bitcoin mixer service allegedly used by North Korean hacking groups. The incident highlights the ongoing risks of hacking and money laundering in the cryptocurrency space.The attacker behind Euler Finance's $200 million exploit has apologized and returned more funds to the protocol, seemingly in a series of messages sent on the blockchain. The hacker, who now identifies as Jacob, sent over 7,000 ether and $10 million worth of dai stablecoins to the protocol in the past 12 hours, bringing the total amount returned to over $120 million. The attacker had previously sent over 51,000 ether to Euler over the weekend. In a message encoded in a transaction, the hacker apologized for their actions, saying 'I f**d up' and 'I didn't mean all that.' The lending protocol suffered an exploit earlier this month that resulted in almost $200 million being lost over four transactions in dai, wrapped bitcoin, staked ether, and USD coin. The attacker used a flash loan to conduct the attack by temporarily tricking the protocol into falsely assuming it held varying amounts of eToken and dToken. Euler had earlier threatened legal action and offered a $1 million bounty to the hacker in return for the funds.Chainlink's LINK token has seen a significant surge in value this week, with wealthy investors swapping ether for link following the release of the company's Cross-Chain Interoperability Protocol (CCIP). On-chain data shows that some whales have added upward of $6 million to their link holdings, lifting prices as much as 6%. The increased demand has helped extend weekly gains to over 25%. CCIP is designed to help build cross-chain applications and services, and is now available to all developers across five testnets. Prices of other oracle protocols, such as Band Protocol and Uma, have also risen in the past 24 hours. Oracles are blockchain-based services that fetch data from outside a blockchain, and Chainlink's CCIP is a significant development in the space. The article is well-written and provides a clear overview of the current state of the market and the impact of Chainlink's release.Rook's well-funded offshoot Incubator DAO is holding a vote on its financial future where the organization could liquidate its entire $25 million treasury for payouts directly to ROOK token holders. The vote, which runs through Thursday, considers a proposal to 'rage quit' Incubator DAO by divvying up its $25 million treasury among holders of the ROOK governance token. The vote is being orchestrated by activist investors who for weeks have debated the future of Rook (an Ethereum-based MEV project) on Discord. The prospect of ROOK owners receiving a share of the money has contributed to a tripling of ROOK's value over recent weeks. It was trading at $42 at press time, slightly over the price that some community estimates have placed on each token's value relative to its share of the treasury.

Hector Network Mulls Legal Wrapper to Shield DAO from Regulatory Scrutiny

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Layer-2 blockchain Optimism is set to unlock $36 million worth of tokens on Sunday, with the anticipated increase in supply spurring a 3.5% slump in the price of the blockchain's native OP token on Tuesday. The previous token unlock on June 30 resulted in a 10.7% sell-off across all OP trading pairs, although the token rebounded by more than 15% over the following 24 hours. The unlock equates to 3.56% of optimism's circulating supply, with $19 million being allocated to core contributors and $17 million to investors. The token has marked a 67% gain since the turn of the year following a series of integrations with the likes of Worldcoin and Coinbase's Base protocol. Optimism is currently trading at $1.50 with a market cap of over $1 billion. Circulating supply remains at just 16% as token unlocks are scheduled incrementally until August, 2027.Cryptocurrency casino Stake appears to have been targeted by a exploit, with on-chain analyst Cyvers reporting that $16 million has been withdrawn on the Ethereum network following a 'private key leak.' Blockchain sleuth ZachXBT backed up Cyvers' claim, stating that $15.7 million had been drained on Ethereum and another $25.6 million had been lost across Polygon and the Binance Smart Chain. The stolen funds have been converted to ether (ETH) and transferred to several externally owned wallets, Cyvers said. The Stake wallet that was targeted still holds $340,000 worth of ETH and $2.1 million in various altcoins, Etherscan data shows. Withdrawals from the wallet appear to have been paused, which is also a claim made by several users on Twitter. Stake is an Australian casino and sportsbook that allows users to deposit and play with cryptocurrencies. It made $2.6 billion in revenue in 2022, according to a Financial Times report. Stake did not immediately respond to CoinDesk's request for comment.

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Crypto investors looking to earn yields on their ether (ETH) holdings have to wait nearly a month before they can be set up as network validators on Ethereum. Data from two sources show waiting times for staking ether lingers at 640 hours, or about 26 days. Exiting the network, on the other hand, takes just 0.013 hours, or less than a minute. As of May, nearly 50,000 validators are waiting in a 'queue' to be able to enter the network, data shows. The demand for validators to enter the network and earn the nearly 5% annual yield is likely stemming from large ether holders who do not want to cash out and instead just want to earn some passive income on their holdings. Some market watchers say these upcoming validators could be a mix of both new market entrants as well as stakers who previously unstaked ether from the network to test if the process works seamlessly and are now entering again. Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that occurred simultaneously on April 12, gave investors the ability to withdraw their staked ether at will for the first time. As such, staking deposits have surged in the past few weeks. More than 200,000 ether were deposited to the network last week, marking the first time deposits had outpaced withdrawals since Shapella went live last month. These additions have brought the number of ether locked for staking purposes to over 19 million tokens – about 15% of the total circulating supply.The EOS Foundation will grant funds to EOS-based applications, among other steps, as the platform gears for a “new life.”nA blockchain that raised $4 billion in its initial coin offering (ICO) with little to show in its early years is aiming for crypto glory once again – years after almost being written off by skeptics.nEOS, whose native eos (EOS) tokens once reached a market capitalization of $14 billion at a lifetime peak, is gearing up for a complete resurgence in network activity and growth with extensive support planned for application developers.nThat is thanks to the efforts of EOS Network Foundation, whose CEO, Yves La Rose, is leading plans for a consensus mechanism upgrade, an Ethereum Virtual Machine (EVM) system and an overall renewed growth strategy, per crypto research firm Messari.nThe EVM mainnet is slated for April 14 release, with updates and improvements planned in the weeks and months to follow.n“Combining the performance of EOS with the familiarity of Ethereum, Solidity developers are in for a treat,” Rose tweeted last week. “At 800+ swaps per second, $EOS EVM will be BY FAR the fastest EVM, benchmarked 3x faster than Solana + BNB and 25x faster than Avax.”nEVMs refer to the environment in which all Ethereum accounts and smart contracts live, serving as a virtual computer utilized by developers for creating decentralized applications (dapps). When deployed on other blockchains, EVMs can allow developers to build dapps and decentralized finance (DeFi) applications similar to how they would on Ethereum.nEVMs are a large part of EOS’ future plans.n“Many of the developers who have left EOS have done so not because they want to, but because Ethereum, for all its deficiencies, is where the action is,” the foundation said in a January post.n“EVM compatibility is essential to the potential of EOS, not just technically but also from a business perspective. Ultimately, it is essential that we welcome more Solidity developers and users to EOS, and an EVM on EOS is an excellent bridge to do just that,” it added at the time.nA grants program will fund developers working on such applications, starting from $10,000 to over $50,000 based on criterias such as the size and scope of the initiative.nGrants can be provided to builders of wholly new products, or to fund maintenance and upgrades of existing tools.nEOS tokens and ecosystem to benefitnNetwork upgrades, grant programs and interoperability with other blockchains could ultimately bolster eos token prices and the $125 million in total locked value (TVL) on EOS-based DeFi applications.nThe tokens trade just over $1.20 in Asian morning hours on Monday, down 10 cents from Friday. Price-chart analysis suggests resistance at $1.80 if the tokens jump in the coming weeks, with another major resistance at $2.90.nAs such, TVL has already increased $50 million since the start of this year in the leadup to April’s EVM launch. Applications such as EOS REX and Vigor, both lending protocols, have added more than 8% in lock value in the past week alone.nPer Messari, the network is averaging 1.3 million daily transactions and 38,000 daily active addresses on a year-to-date basis and averaging 1,785 new addresses per day.

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Trading volume for Blur has increased by 1,240% in the past 24-hours after it was listed on Upbit. The magnitude of the rally represents a shift in sentiment from three weeks ago when the Securities and Exchange Commission (SEC) went on the offensive against altcoins that it labelled securities. With Bitcoin trading comfortably above $30,000, traders are beginning to flock to lower liquidity trading pairs. Arbitrum, meanwhile, has surged by 33.2% in the past 12-days as activity on the layer 2 blockchain continues to mount. Total value locked (TVL) on Arbitrum-based platforms like GMX and Radiant has increased by 12.5% and 9.3% in the past seven days, according to DefiLlama. Open interest, which is a metric that assesses the amount of open derivatives positions on a specific asset, is resting at a yearly high on bitcoin cash (BCH) markets, suggesting that investors are backing the recent rally with leverage.Some scammers are trying to defraud unsuspecting users by issuing fake PayPal USD (PYUSD) tokens on various blockchains, capitalizing on PayPal's recently launched dollar-pegged stablecoin. Over 66 fake tokens have propped up on networks such as Ethereum, BNB Chain, Base, and others as of Asian noon hours on Tuesday, according to DEXTools data. The majority of these have been floated on Ethereum, where the original PYUSD exists. The scammers are issuing these tokens, naming them 'PYUSD,' adding liquidity with ether or another token, and offering them to users on decentralized exchanges. This is possible as anyone can call a smart contract and issue tokens on Ethereum (or other blockchains) for a few cents, and the presence of decentralized exchanges means tokens can instantly be issued, supplied with liquidity, and traded soon after. Most of the supply of these tokens are likely purchased by their creators after issuance, giving the illusion of a trendy token while being a honeypot in reality. The hustle may yield a few thousand dollars in a few hours for such developers, making it a profitable, albeit wholly unethical, venture. However, some developers may pull all liquidity from the fake tokens hours after issuance, causing prices to drop 100% and leaving speculators holding digital dust. It's important for users to be cautious and not fall for these scams, as they can result in financial losses and damage to one's reputation.