The Block
Quick Take Ethereum-compatible Layer 1 blockchain Monad’s devnet has gone live having reached 10,000 transactions per second in internal testing. Monad’s public testnet is expected to launch in Q1, with a mainnet release anticipated later in the year.
Quick Take A U.K. judge ruled that early Bitcoin developer Craig Wright is not Satoshi Nakamoto. The judge said the evidence was “overwhelming,” according to CoinDesk.
Bitcoin ETFs are going to surpass gold ETFs at some point, according to Bloomberg Senior ETF Analyst Eric Balchunas.The only thing that could stand in their way would be some kind of black swan event, he said.
Crypto investors experienced a significant recovery from 2022, which saw estimated losses of $127.1 billion, according to Chainalysis.Last year’s gains were lower than those of 2021, which may be because investors in 2023 were less likely to cash in on their crypto holdings, the report said.
Major memecoins have sustained a 24-hour rally, with the Solana-based dogwifhat leading the charge.The total cryptocurrency market cap fell 0.2% over the past day, with bitcoin and ether posting downturns of 0.3% and 2.5% respectively.
Analysts at Bernstein have projected the overall crypto market cap could surge threefold to $7.5 trillion by the end of 2025.Growth will be led by the Bitcoin and Ethereum ecosystems amid “unprecedented” institutional adoption, the analysts said.
Quick Take Polyhedra Network has raised $20 million and reached a valuation of $1 billion. The round was conducted through a token purchase agreement, Polyhedra’s CSO, Eric Vreeland, told The Block.
Quick Take BNB Chain has unveiled a rollup-as-a-service (RaaS) solution for building Layer 2 chains within its ecosystem. The RaaS aims to provide dapps with the infrastructure required to deploy Layer 2s on BNB Smart Chain.
Quick Take The Hong Kong Monetary Authority, the de facto central bank, said the second phase of the pilot will focus on exploring new use cases and delving into select cases from the previous phase. The second phase of the e-HKD pilot is expected to last until mid-2025.
Quick Take The court ruled that the regulator “has not established that the Finder Earn product is a debenture.” The Australian Securities and Investment Commission said it will “consider the judgment carefully” and that it has 28 days to appeal the ruling.
