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U.S. equities rose yesterday by 0.88% due to the market counting down the debt ceiling and Nvidia's share price rallying. The broader cryptocurrency market slightly went up, with Bitcoin and Ether rising 0.14% and 0.27%, respectively, in the past 24 hours.
Today's outperformer is TENET, which surged 18.09% in the past 24 hours as the blockchain partners with Conflux and Qtum to provide Liquid Staking solutions to them.
Tenet Protocol (TENET) is an EVM Layer-1 blockchain that uses Liquid Staking Derivatives (LSDs) as collateral to offer security, liquidity, and yield. TENET’s native stablecoin, LSDC, is minted against overcollateralized, tLSDs, to enhance capital efficiency and aid DeFi protocols to benefit from diverse and additional yield sources.
TENET has partnered with Conflux and Qtum, both strong players in the Asia market, to increase the liquid staking industry's presence there. The collaboration will see Conflux and Qtum users stake at least $1 million of their native tokens, receiving liquid staking derivatives (LSD) from Web3 infrastructure firm Ankr. These LSDs can be staked on Tenet's network for higher yield and utility. The aim of this partnership is to integrate TENET into the Asian blockchain community, particularly in China, where liquid staking has been relatively absent. With the opening of cryptocurrency trading in Hong Kong, it is worth keeping an eye on protocols that play a part in Asia as they will likely get more attention.
Tenet has just been listed on Bybit, find out more info about its prize pool here.
Check Out the Latest Prices, Charts, and Data of TENETUSDT!
Circle, a stablecoin issuer, has launched its Euro Coin (EUROC) on the Avalanche blockchain to provide faster and more efficient financial services for developers and users. Each EUROC token is fully backed by euro reserves held at US-regulated financial institutions. The addition of EUROC to Avalanche aims to enhance its liquidity and offer users the option to transact in euros alongside its USD-backed stablecoin, USD Coin (USDC). Circle believes that this expansion allows better access to the euro for anyone with an internet connection, paving the way for cost-effective financial transactions and new possibilities for payments and remittances.