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The SPX index is up 0.74%, driven by gains in technology stocks, particularly Nvidia, Tesla, and Amazon, following a previous selloff due to inflation concerns. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.62% and 0.28%, respectively in the past 24 hours.
Today’s outperformer is ONDO, which jumped 8.2% after Ondo Finance tests new instant Conversion Feature.
Ondo Finance (ONDO), founded in 2021, is a DeFi platform that blends traditional finance with blockchain to provide fixed yield loans backed by crypto assets, targeting a diverse investor base with varying risk appetites. ONDO, increased by 8% after testing a new feature enabling instant conversions between BlackRock’s BUIDL token and USDC stablecoins. This test involved a $250,000 transaction and showcased the feature's ability for 24/7 redemptions. This follows BlackRock’s entry into asset tokenization, with the BUIDL token offering daily blockchain-based yields backed by U.S. Treasury securities.
EigenLayer has rolled out six new Actively Validated Services (AVS) on its platform, focusing on improving rollups, integrating real-world data, and enhancing co-processing capabilities. These services are maintained by EigenLayer operators and secured by those restaking on the platform. The lineup includes MACH from AltLayer for rollups, Brevis’s Coprocessor for customizable trustless computations, Eoracle’s Ethereum-specific oracle for data, Lagrange’s State Committee providing light client functionality, and Witness Chain’s DePIN for coordination. This introduction follows EigenLayer's notable Ethereum mainnet launch, which attracted $500 million in delegated stakes and established key partnerships with industry leaders like Coinbase, Google Cloud, and Blockdaemon. Since its inception in June, EigenLayer has captured 99% of the restaking market with a total of 4.1 million ETH.
On April 11, 2024, the US spot bitcoin ETF sector ended its two-day outflow streak with net inflows of $124 million, thanks in part to the Grayscale Bitcoin Trust ETF (GBTC) which recorded its lowest daily net outflow of $17.5 million since its conversion to an ETF on January 11.
The Omni Foundation is offering an airdrop of 3% of the total $OMNI supply, amounting to 3 million tokens. To check eligibility, users need to connect their Ethereum and Cosmos wallets to the provided link and verify their status. The claims process will begin at a later date. Eligibility for the airdrop includes early testnet users, Galxe OAT minters, top 10,000 EigenLayer restakers, the first 5,000 Ethereum Beacon Chain solo stakers, and holders of specific NFTs from Milady Maker, Redacted Remilio Babies, Pudgy Penguins, and Ninja series, as well as participants from 25 strategic partner protocols.