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Happy Friday! The Weekly Market Highlights is an initiative from the #Binance Research team to round up the week, summarizing key market events and views from the team.
Let's get the ball rolling 🧵👇
Let's get the ball rolling 🧵👇
1/ Macro
Inflation rate in the UK remained high at 10.1% in March, exceeding expectations of 9.8%. This was largely driven by energy prices, which increased 40.5% year-on-year.
Inflation rate in the UK remained high at 10.1% in March, exceeding expectations of 9.8%. This was largely driven by energy prices, which increased 40.5% year-on-year.
2/ L1/L2
#ETH deposits exceeded withdrawals for the first time since the #Shapella upgrade. This comes a week after the hard fork which enabled ETH stakers to withdraw staked ETH.
#ETH deposits exceeded withdrawals for the first time since the #Shapella upgrade. This comes a week after the hard fork which enabled ETH stakers to withdraw staked ETH.
3/ L1/L2 (Cont.)
@a16zcrypto, unveiled a new Layer 2 rollup client called Magi that is built on the OP Stack, a software stack that powers the Optimism Layer 2 network.
@a16zcrypto, unveiled a new Layer 2 rollup client called Magi that is built on the OP Stack, a software stack that powers the Optimism Layer 2 network.
4/ L1/L2 (Cont.)
@SuiNetwork, a new layer 1 network, has announced that it will launch its mainnet on 3 May.
@SuiNetwork, a new layer 1 network, has announced that it will launch its mainnet on 3 May.
5/ DeFi
@PancakeSwap, has proposed a reduction in the inflation target of its native CAKE token from more than 20% to 3-5%. The aim is to transition the CAKE staking model to one characterized by low staking inflation, and real yield drawn from PancakeSwap’s protocol revenues.
@PancakeSwap, has proposed a reduction in the inflation target of its native CAKE token from more than 20% to 3-5%. The aim is to transition the CAKE staking model to one characterized by low staking inflation, and real yield drawn from PancakeSwap’s protocol revenues.
6/ DeFi (Cont.)
Liquid staking protocol, @Rocket_Pool, has deployed its Atlas upgrade, reducing the minipool node operator deposit requirements from 16 ETH to 8 ETH. This lowers the barrier of entry to be an Ethereum validator on Rocket Pool.
Liquid staking protocol, @Rocket_Pool, has deployed its Atlas upgrade, reducing the minipool node operator deposit requirements from 16 ETH to 8 ETH. This lowers the barrier of entry to be an Ethereum validator on Rocket Pool.
7/ Stablecoins
SG Force, the digital assets subsidiary of Societe Generale bank, has launched a euro stablecoin on Ethereum. EUR CoinVertible (EURCV) will be offered to institutional clients to bridge the gap between traditional capital markets and the digital assets ecosystem.
SG Force, the digital assets subsidiary of Societe Generale bank, has launched a euro stablecoin on Ethereum. EUR CoinVertible (EURCV) will be offered to institutional clients to bridge the gap between traditional capital markets and the digital assets ecosystem.
8/ NFT
@Starbucks has launched its second NFT collection on Polygon. The “First Store Collection” is a set of 5,000 NFT “stamp” collectibles and was priced at $100 each, similar to the previous drop of 2,000 NFTs.
@Starbucks has launched its second NFT collection on Polygon. The “First Store Collection” is a set of 5,000 NFT “stamp” collectibles and was priced at $100 each, similar to the previous drop of 2,000 NFTs.
9/ Gaming
@MeritCircle_IO has announced the launch of gaming subnet “Beam” in collaboration with @Avax. Merit Circle plans for Beam to support dozens of Avalanche games.
@MeritCircle_IO has announced the launch of gaming subnet “Beam” in collaboration with @Avax. Merit Circle plans for Beam to support dozens of Avalanche games.
10/ Others
The EU Parliament has passed a new crypto licensing regime, Markets in Crypto Assets regulation (“MiCA”), thereby introducing comprehensive crypto regulation for one of the world’s largest markets.
The EU Parliament has passed a new crypto licensing regime, Markets in Crypto Assets regulation (“MiCA”), thereby introducing comprehensive crypto regulation for one of the world’s largest markets.
11/ Interested to learn more? Be sure to check out the #Binance Research website for more project and macro research reports.
research.binance.com/en/analysis
research.binance.com/en/analysis
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