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The SPX index is up 0.58%, this occurred alongside a decline in US Treasury yields and ongoing market evaluation of the US economy, influenced by recent inflation and retail sales data. Investors are now awaiting US producer inflation figures. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.02% and 0.50%, respectively in the past 24 hours.
Today’s outperformer is UNI, which jumped 9.65% following the Dencun Mainnet and Uniswap v4 launch in 2024, with an emphasis on audits and community involvement.
Uniswap Protocol (UNI), launched on 2018, is a decentralized exchange on Ethereum, allowing token swapping and liquidity provision through immutable smart contracts. It operates on various blockchains and enables self-custodial trading and earning from liquidity provision, with its open-source code publicly available. Dencun's Mainnet launch is scheduled for March 2024, and Uniswap v4 is targeted for Q3 2024. The v4 update is gaining momentum with community engagement and is set to be Ethereum's most thoroughly audited code. The roadmap includes a code freeze, comprehensive audits, testnet deployment, and a final launch push to Mainnet in Q3.
TRON has announced a new Bitcoin Layer 2 solution designed to enhance the integration and interoperability between TRON's network, which hosts the world's largest stablecoin market with a $55 billion value, and the Bitcoin network. This solution aims to decentralize finance by intertwining various token types, including stablecoins within TRON, with Bitcoin and its Layer 2 technologies like Bitcoin Ordinals. The roadmap includes stages of development that will facilitate cross-chain connections, introduce a user-friendly wallet and tools for BRC-20 tokens, and establish collaborations with Bitcoin Layer 2 protocols to enable TRON's diverse assets to participate in restaking initiatives. The final stage will unveil a Layer 2 solution integrating TRON, BTTC, and Bitcoin, focusing on maintaining the efficiency of POS systems while ensuring the security of POW & UTXO models. This initiative represents TRON's commitment to pushing the boundaries of blockchain interoperability and utility.
Date | Report | Previous |
Fri, Feb. 16 | Building Permits Prel | 1.493M |
Fri, Feb. 16 | PPI MoM | -0.1% |
Fri, Feb. 16 | Michigan Consumer Sentiment Prel F | 79 |
In December 2023, U.S. building permits increased by 1.8% to a seasonally adjusted annual rate of 1.493 million, with single-family authorizations hitting the highest level since May 2022. The South, Midwest, and Northeast saw increases, while the West experienced a decline. Producer prices in the U.S. fell by 0.2% month-over-month in December 2023, with core PPI (excluding food and energy) dropping by 0.1%. The University of Michigan's consumer sentiment index for January 2024 was revised higher to 79, marking the highest level since July 2021, with inflation expectations remaining stable at 2.9%.
Today, liquidity providers on Parcl are advised to migrate their LP accounts to the new system to preserve their liquidity positions. Parcl has also issued a final reminder for traders to close their "Delta Neutral" strategies by 17th February 2024, as such strategies ceased to qualify for Points accumulation since 5th February 2024. Traders who unwound their strategies before this date will not be affected by Points reduction. However, Points earned from "Delta Neutral" strategies between 5th and 17th February will be revoked by the end of Season 3, but other Points will remain intact. Strategies left open after 17th February will result in the revocation of all Points earned, affecting referral Points as well. Additionally, using "Delta Neutral" strategies across multiple wallets will lead to flagging and Points revocation, impacting referral Points by Season 3's end. "Market neutral" pair trading remains a viable Points-earning strategy.