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UNI outperformed, surging 9.65% after the Dencun Mainnet announcement and Uniswap v4 launch in 2024. The Uniswap Protocol, established in 2018, continues to lead in decentralized exchanges on Ethereum. The upcoming Dencun Mainnet in March 2024 and Uniswap v4 in Q3 2024 signify a strategic emphasis on audits and community engagement, making it Ethereum's most thoroughly audited code.
STX saw a remarkable 23.7% jump after being recognized by Grayscale for revolutionizing Bitcoin with fully expressive smart contracts. Stacks, launched in January 2021, enhances Bitcoin with smart contracts and decentralized apps, making it a significant player in reducing big tech dominance and decentralizing the internet.
CKB soared by 51.7% following Nervos Network's unveiling of RGB++ for enhanced Bitcoin scalability. Nervos Network, launched in November 2019, introduces the RGB++ Protocol to improve the RGB protocol, connecting Bitcoin UTXOs and Nervos CKB Cells. This advancement ensures secure transactions and ownership verification without cross-chain transactions, addressing challenges and enhancing overall security and efficiency.
BTC jumped 3.58%, crossing the $50,000 mark for the first time in over two years. Strong inflows into spot Bitcoin ETFs and reduced selling pressures on GBTC contributed to the surge. Despite Genesis, a crypto lender, facing bankruptcy and liquidating $1.6 billion worth of GBTC holdings, BTC remains buoyant with growing institutional interest.
U.S. building permits increased by 1.8%, with single-family authorizations reaching the highest level since May 2022. Producer prices fell by 0.2% month-over-month, while the University of Michigan's consumer sentiment index for January 2024 revised higher to 79. US retail sales surged by 0.6% in December 2023, driven by auto sales.
In December 2023, U.S. core consumer prices rose by 0.3%, with the annual core inflation rate dropping to a 2.5-year low of 3.9%. Forecasts for January 2024 suggest the lowest annual inflation rate since March 2021 at 2.9%, indicating a continued downward trend.
Parcl advises liquidity providers to migrate LP accounts to the new system to preserve positions. Traders are reminded to close "Delta Neutral" strategies by February 17, 2024, with a warning about potential Points revocation for such strategies. Strategies left open after this date may result in the revocation of all earned Points.
MilkyWay introduces mPoints with a significant airdrop, MassDrop, rewarding early supporters in the Modular ecosystem. This liquid staking protocol for Celestia has quickly amassed over $43 million TVL. Users earn mPoints by holding or engaging in DeFi activities, with plans for the MILK token launch in H1 2024.
Wormhole surpasses 1 billion messages and facilitates nearly $40 billion in cross-chain transfers. The protocol plans to airdrop 17% of its 10 billion tokens to the community, moving towards token-based governance. Recently, it announced a $225 million funding round, valuing the company at $2.5 billion.
Nibiru Chain offers a Gamified Engagement Airdrop from Feb 7th to 28th, 2024, rewarding early supporters for interacting with its content on X. Participants connect their X account and wallet to earn Nibi Points through social media engagement and bonus Gleam tasks.
Stay tuned for more institutional insights and crypto updates next week!