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The SPX index is up 0.63%, US stock futures remained steady as investors responded to Nvidia's announcement of new AI chips and software, aiming to strengthen its position in the AI market. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 2.27% and 3.44%, respectively in the past 24 hours.
Today’s outperformer is LDO, which jumped 9% after Fidelity Enhances Ethereum ETF Proposal with Staking Option Boosting Lido's Value.
Lido Finance (LDO), launched on December 2020, offers a liquid staking solution for PoS blockchains, allowing users to stake crypto without locking tokens. Users receive liquid stETH tokens, usable in DeFi and dapps, while earning rewards. Around 30% of all ETH is staked through Lido as of 2023. It's governed by a DAO, where LDO token holders vote on key decisions. Fidelity has updated its application for an Ethereum ETF to include the option for staking some of the fund's assets. This amendment was filed with the SEC, potentially allowing traders to engage in staking through trusted providers, which may include Fidelity affiliates. Following this announcement, LDO saw its value increase. Fidelity's move adds to the competitive landscape for Ethereum ETFs, alongside other potential issuers like BlackRock, Ark Invest, and Grayscale, though experts remain skeptical about the SEC's approval by the next deadline on May 23.
Fantom's FTM token and its Total Value Locked (TVL) have doubled since February, driven by anticipation of the Sonic upgrade. FTM's price surged 104% in 30 days, reaching a 23-month high, while its trade volume increased over 1,000% and TVL in DeFi protocols rose 236%. Despite these gains, Fantom's TVL is still down 98.6% from its all-time high in January 2022. The Sonic upgrade, scheduled for this spring, will introduce a new smart contract coding language and execution engine to the Fantom Virtual Machine, aiming for improved efficiency, EVM compatibility, and lower transaction and storage costs. Preliminary tests show promising enhancements in transaction speed and cost, supporting up to 2,000 TPS with one-second finality, and targeting new DeFi and web3 gaming applications.
Date | Report | Previous |
Tue, Mar. 19 | Building Permits Prel FEB | 1.489M |
In January 2024, U.S. building permits decreased by 0.3% to a seasonally adjusted annual rate of 1.489 million, slightly down from December's 1.493 million but above the preliminary estimate of 1.470 million. Approvals for units in buildings with five or more units dropped 5.8% to 419 thousand, the lowest since October 2020, whereas single-family authorizations increased by 2.2% to a 20-month high of 1.021 million. Regionally, the South saw a 7.8% decline in permits to 793 thousand, while the West, Midwest, and Northeast reported increases, with the Northeast seeing a significant 52% jump to 149 thousand.
Telos has launched Tekika, a unique airdrop campaign, to introduce a dynamic NFT collection by Peruvian artist MUTE, ahead of its gaming sidechain, K2-18. Participants, through whitelisting, can mint an evolving NFT, engage in activities across three sprints to earn points, and eventually receive a cumulative airdrop from over a dozen DeFi and GameFi projects within the Telos ecosystem. Tekika marks a first in Web3 by integrating NFTs, DeFi, GameFi, and a points system, offering rewards from partners like Swapsicle and Symmetric. Telos CEO Lee Erswell highlights Tekika's aim to streamline the airdrop experience, emphasizing community and cultural engagement.