AI Summary
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
The SPX index was down 0.56% as the 10-year U.S. yield reached 4.1%, its highest in five weeks. Strong December retail sales data also dampened expectations of an early rate cut by the Fed. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 1.76% and 3.15%, respectively in the past 24 hours.
Today’s outperformer is XCN, which jumped 8.3% after Onyx Protocol set to launch Money Market V2 with no action required for $XCN holders.
Onyx Protocol (XCN), launched in March 2023, is a DeFi platform on the Ethereum blockchain, offering lending and borrowing services for a variety of assets. It supports multiple asset types, including ETH, ERC-20 tokens, ERC-721 NFTs, and ERC-1155 tokens, through smart contracts. This flexibility has garnered attention from DeFi enthusiasts, and the platform also features a unique gas fee refund program for its users. The Onyx Protocol Money Market V2 is set to launch on February 12th. There will be no changes or migrations required for the $XCN token contract, and XCN holders do not need to take any action. Stay tuned for further announcements regarding the launch.
Check Out the Latest Prices, Charts, and Data of XCNUSDT Perp!
The Dencun upgrade, which incorporates proto-danksharding (EIP-4844), has been implemented by Ethereum's core developers on the Goerli test network. This implementation is a preliminary step towards its expected release on the Ethereum mainnet in early 2024. The upgrade went live at approximately 1:35 a.m. ET but faced initial challenges, including potential client synchronization issues, which are common during testnet deployments but usually resolved before the mainnet release. Following Goerli, the upgrade will be activated on the Sepolia testnet on January 31 and then on the Holesky testnet on February 7. The central aspect of Dencun, EIP-4844, introduces a mechanism for the ephemeral storage of off-chain data, aiming to decrease storage demands and reduce transaction costs, particularly for Layer 2 rollup networks on Ethereum.