Coin overview
ZK
Ended--
Last price (USDT)
890.97K
24h total (USDT)
3.05M
Total vol (USDT)
2024-05-22 09:00:00 ~ 2024-06-17 07:30:00
Trading time (UTC+0)
2024-06-17 12:00:00
Delivery time (UTC+0)
Solana Optimistic Network receives $5 million investment from Jump and Amber
Solana Optimistic Network Attracts Jump Crypto and Amber Group SOON expands copy-trading with artificial intelligence Investment focuses on real-world assets and SVM Solana Optimistic Network (SOON), a layer-5 solution for Ethereum based on the Solana Virtual Machine (SVM), has announced a $XNUMX million strategic investment led by Jump Crypto, Amber Group, and angel investors. The funding furthers the project’s goal of democratizing access to high-performance blockchain infrastructure and providing professional trading tools to the retail public. Individual investors include prominent names in the crypto ecosystem, such as Nana Murugesan (zkSync), Mark Hull (Kamino Finance), Chris Hermida (Switchboard) and Tori Cohen (Wormhole). Even before the mainnet launch, SOON had already raised $22 million through an NFT sale. Today, I'm excited to share a major milestone in SOON's journey: We've secured a $5M strategic investment from Jump Crypto and Amber Group, and an esteemed group of angel investors, including Nana Murugesan (President of zkSync), Mark Hull (Co-founder of Kamino Finance), Chris… https://t.co/4q7BvQ7OtA — Joanna Zeng @ SOON (🔴,💊)📍🇺🇸🗽 (Mainnet Arc) (@justsayuluvjo) June 11, 2025 According to the statement, the resources will be directed to accelerate the development of high-yield chains, in addition to expanding the copy-trading product with the integration of artificial intelligence. The plans also include strengthening the presence in the real-world assets (RWA) sector, such as tokenized shares. SOON CEO Joanna Zeng highlighted the importance of institutional support: “This investment from Jump and Amber reinforces the growing institutional confidence in SOON’s vision for the ultimate on-chain trading experience.” Zeng also emphasized Jump Crypto’s relevance in this process, mentioning that “Jump is an industry leader in both traditional and digital finance. They are the ideal sponsor for SOON to explore RWAs such as on-chain US equity solutions, more innovative trading strategies, and the development of high-performance blockchain infrastructure.” Jump Crypto partner Saurabh Sharma commented that the company is excited about SOON’s decoupled SVM architecture and its focus on delivering an optimized trading experience to users. Amber Group will contribute AI models that will be incorporated into SOON’s copy-trading engine. According to Jerry Zhou, the company’s director, “SOON is reshaping the on-chain trading experience in a way that resonates with the next generation of users.” Disclaimer: The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss. Tags: Solana (SOL)
Ethereum Network Activity Sees Potential Growth Amid Record 17.4 Million Unique Addresses and Rising Adoption
Ethereum’s network activity has surged dramatically, reaching a record 17.4 million unique addresses and signaling robust growth in blockchain adoption. This 70.5% increase in active addresses since Q2 reflects heightened user engagement, developer interest, and ecosystem vitality. According to data from growthepie cited by Cointelegraph, sustained daily activity levels confirm Ethereum’s expanding utility beyond speculative trading. Ethereum network activity hits new highs with 17.4 million unique addresses, highlighting growing adoption, ecosystem health, and future growth potential. Ethereum Network Activity Surges: A Clear Sign of Growing Adoption The Ethereum blockchain recently achieved a significant milestone, recording 17.4 million unique addresses, a figure that underscores the platform’s expanding user base. This surge, representing a 70.5% increase in addresses interacting across Ethereum-connected blockchains since the start of Q2, indicates more than just casual interest. It reflects increased adoption by individuals, decentralized applications (dApps), and institutional participants alike. The sustained high daily active addresses—16.4 million as of June 10—demonstrate ongoing engagement rather than a temporary spike, which is essential for the network’s long-term viability. Understanding the Implications of Rising Ethereum Addresses Unique addresses on Ethereum serve as a proxy for the number of participants engaging with the network. While one user can control multiple addresses, the upward trend in unique addresses generally correlates with a growing and diversifying user base. This growth signals healthy ecosystem dynamics, including increased usage of DeFi protocols, NFT platforms, and other smart contract applications. The data suggests that Ethereum’s utility is expanding beyond speculative trading, with real-world applications driving network activity. Connecting Blockchain Activity Data to Broader Crypto Market Trends Ethereum’s network activity is a valuable indicator of broader market sentiment and utility. Rising activity often coincides with bullish market phases or increased interest in sectors such as decentralized finance and non-fungible tokens. Unlike price movements alone, network activity reflects actual usage and utility, providing a more grounded perspective on the health of the ecosystem. However, the surge also highlights potential challenges, such as network congestion and rising gas fees, which could impact user experience without effective scaling solutions. Scaling Solutions and Their Role Amidst Growing Network Demand As Ethereum’s activity increases, the demand for efficient transaction processing intensifies. Layer 2 scaling solutions like Arbitrum, Optimism, zkSync, and Polygon PoS have become critical in managing this load by offering faster and more cost-effective transactions. These solutions help mitigate congestion and high gas fees, ensuring that the network remains accessible and attractive to users and developers. The adoption of these technologies is a key factor in sustaining Ethereum’s growth trajectory and maintaining its competitive edge in the blockchain space. Future Outlook: Opportunities and Challenges for Ethereum Growth The surge in Ethereum network activity presents both promising opportunities and notable challenges. On the opportunity side, increased user engagement strengthens network effects, boosts demand for ETH, and fosters innovation within the ecosystem. A vibrant community encourages the development of new dApps and protocols, further enhancing Ethereum’s value proposition. Conversely, challenges such as network congestion and elevated gas fees require ongoing attention. Competition from emerging blockchains also underscores the need for continuous innovation and effective scaling. Actionable Insights for Crypto Participants For users, understanding the impact of increased network activity on transaction costs is crucial. Exploring Layer 2 solutions can offer relief from high fees and slower processing times. Developers should capitalize on the expanding user base by optimizing applications for gas efficiency and leveraging Layer 2 platforms. Investors may view rising network activity as a positive signal but should integrate this data with comprehensive fundamental and technical analysis. Staying informed through reliable sources will be essential to navigate the evolving Ethereum landscape effectively. Conclusion The remarkable 70.5% increase in Ethereum addresses interacting across blockchains since Q2, culminating in a record 17.4 million unique addresses, highlights the network’s expanding adoption and ecosystem vitality. While challenges such as scaling and fee management persist, the sustained surge in activity underscores Ethereum’s enduring relevance and growth potential within the dynamic crypto market. This trend reflects a maturing blockchain ecosystem where utility and user engagement drive long-term value, setting the stage for continued innovation and expansion. In Case You Missed It: Guggenheim May Expand Treasury-Backed Fixed-Income Offering on XRP Ledger Through Ripple Partnership
Ethereum network activity Surges: 70.5% Jump in Unique ETH Addresses Reveals Robust Growth
Hey crypto enthusiasts! Have you been keeping an eye on Ethereum lately? There’s some pretty exciting news coming out about the network’s health and adoption. We’re seeing a significant surge in Ethereum network activity, pointing towards potentially robust growth and increasing interest in the ecosystem. According to data cited by Cointelegraph, sourced from growthepie, the Ethereum network recently hit a new milestone. In early June, it recorded a massive 17.4 million unique addresses. But the really striking figure? Since the beginning of the second quarter of the year, the number of addresses interacting across one or more blockchains connected to Ethereum has soared by an impressive 70.5%! Even looking at daily figures, June 10 saw a strong 16.4 million active addresses, confirming that this isn’t just a fleeting spike, but sustained high activity. What Does Surging Ethereum Network Activity Tell Us? When we talk about network activity, we’re essentially looking at how many people are using the blockchain and how often. A significant jump, like the 70.5% increase seen in Ethereum network activity since Q2, is a strong indicator of several positive trends: Increased Adoption: More addresses means more users, whether they are individuals, dApps, or institutions. Ecosystem Health: High activity suggests the applications and protocols built on Ethereum are seeing significant usage. Developer Interest: Growing user numbers attract more developers to build and innovate on the platform. Network Effects: As more people use the network, it becomes more valuable and attractive for others to join. This surge in activity isn’t just a vanity metric; it represents real-world interaction with the Ethereum blockchain, from simple token transfers to complex DeFi transactions and NFT minting or trading. Decoding the Rise in ETH Unique Addresses Let’s zoom in on the 17.4 million ETH unique addresses recorded. A unique address is essentially a distinct participant on the network. While one person or entity can control multiple addresses, a growing number of unique addresses often correlates with a growing user base. The jump to 17.4 million is a record high, signifying a significant expansion in the reach of the Ethereum network. Think of unique addresses as the total number of accounts ever created on the network. Active addresses, on the other hand, represent accounts that were involved in a transaction on a specific day. The fact that both unique addresses are at a record high *and* active addresses remain consistently high (16.4 million on June 10) paints a picture of both expanding reach and ongoing engagement. This sustained interaction is crucial for the long-term health and viability of the network. Connecting the Dots: Blockchain Activity Data and Market Trends Understanding blockchain activity data is key to grasping broader crypto market trends. Increased activity on a major network like Ethereum often signals growing confidence and participation in the wider crypto space. Here’s how the data connects: Correlation with Market Sentiment: Often, rising network activity coincides with positive market sentiment or periods of increased interest in specific sectors like DeFi or NFTs. Indicator of Utility: Unlike speculative trading, network activity based on transactions, smart contract interactions, etc., highlights the actual utility being derived from the blockchain. Forecasting Potential Bottlenecks: While positive, high activity can also put pressure on network resources, potentially leading to higher transaction fees (gas prices) if not managed by scaling solutions. The current surge suggests that despite market volatility, the underlying use cases for Ethereum remain strong and are attracting new participants. Implications for Ethereum Growth What does this significant activity mean for future Ethereum growth? The outlook appears largely positive, but it’s not without its challenges. Potential Benefits: Strengthened Network Effects: More users make the network more valuable for developers and businesses. Increased Demand for ETH: As the native asset used for gas fees and staking, higher activity can increase demand for ETH. Innovation Boost: A large, active user base encourages ongoing development and deployment of new dApps and protocols. Validation of Scaling Solutions: The increased load highlights the necessity and growing adoption of Layer 2 scaling solutions, which are crucial for handling higher transaction volumes efficiently. Potential Challenges: Network Congestion: Without sufficient scaling, high activity can lead to slower transaction times. Higher Gas Fees: Increased demand for block space drives up gas prices, making transactions more expensive for users. Competition: While Ethereum is a leader, other blockchains are also vying for users and developers. Sustained growth requires continuous innovation and effective scaling. Overall, the surge in activity is a powerful testament to the resilience and expanding utility of the Ethereum ecosystem. Navigating Crypto Market Trends: Actionable Insights For those participating in the crypto space, keeping an eye on crypto market trends and underlying network data like Ethereum’s activity is crucial. Here are some actionable insights: For Users: Be aware that increased activity can mean higher gas fees, especially during peak times. Explore Layer 2 solutions like Arbitrum, Optimism, zkSync, or Polygon PoS for potentially lower costs and faster transactions. For Developers: The growing user base presents a massive opportunity. Building on Ethereum or its Layer 2s offers access to a large and engaged community. Consider optimizing dApps for gas efficiency. For Investors: Surging network activity can be seen as a bullish signal for ETH and the broader ecosystem. However, it’s just one metric. Combine this data with other fundamental and technical analysis before making investment decisions. Understand that increased activity can also contribute to network strain, which is a challenge Ethereum is actively addressing with scaling upgrades. Stay Informed: Follow reliable data sources and news outlets to understand the drivers behind network activity and how ongoing developments (like future Ethereum upgrades) might impact it. This jump in activity underscores the importance of utility and adoption in the long run for blockchain networks. Conclusion The significant jump of 70.5% in Ethereum addresses interacting across blockchains since the start of Q2, pushing unique addresses to a record 17.4 million, is a powerful indicator. It signals expanding adoption, robust ecosystem health, and sustained interest in the Ethereum network and the applications built upon it. While challenges like scaling and potential fee increases remain, this surge in Ethereum network activity highlights the network’s continued relevance and growth potential in the dynamic world of crypto market trends. It’s clear that despite market fluctuations, the fundamental utility and reach of Ethereum are expanding, paving the way for exciting developments in the future of Ethereum growth. To learn more about the latest crypto market trends , explore our article on key developments shaping Ethereum adoption and blockchain activity data . Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
SOPH token drops 24.97% after $900M airdrop, despite strong TVL growth
Binance applied a “seed tag” and launched futures trading with up to 75x leverage. On-chain TVL reached $20.28 million with DEX volume peaking at $47.44 million. A further 20% supply unlock is scheduled to begin in three months. Sophon’s utility token, SOPH, fell by 24.97% within 24 hours of its market debut on Binance and several other exchanges, shedding over $80 million from its market capitalisation. The steep decline followed a large-scale airdrop event in which 900 million tokens—9% of SOPH’s total 10 billion supply—were unlocked and distributed to early contributors, farmers, zkSync users, and NFT holders. While airdrops are a common strategy to drive initial interest, they often lead to aggressive profit-taking, especially when token utility is still limited. Binance began SOPH trading at 13:00 UTC on 28 May, shortly after announcing its listing via an X post on 23 May. Other exchanges, including OKX, KuCoin, Upbit, Bitget, and MEXC, also launched trading support on the same day. SOPH initially peaked at $0.11 before tumbling to $0.06 within the same day, recording a 24.97% drop. Market volatility is fuelled by limited utility and high leverage SOPH’s early volatility is not just a result of the unlocked supply. Binance assigned a “seed tag” to SOPH, categorising it among high-risk tokens prone to volatility. These tags often caution investors about potential price fluctuations, particularly in new projects. In addition, Binance Futures listed SOPH with leverage of up to 75x, creating an environment that incentivised speculative trading and amplified price swings. The trading volume surged by 2,724.8% in the last 24 hours, according to CoinGecko, as early recipients of the airdrop rushed to sell their allocations. This created a large supply overhang that the current market demand failed to absorb, exacerbating the price decline. Sophon is built as a Layer 2 blockchain using Validium technology and is part of ZKsync’s Elastic Chain roadmap. It aims to serve as a decentralised infrastructure for entertainment applications. However, for now, SOPH’s practical utility remains narrow, primarily limited to covering gas fees and contributing to the network’s sequencer decentralisation process. The lack of immediate use cases appears to have contributed to the weak market support during the sell-off. Investor interest remains high despite short-term dip Despite the price drop, on-chain metrics point to rising user engagement. According to DefiLlama, Sophon’s total value locked (TVL) climbed to $20.28 million on launch day, up 14.1% from the previous day. Decentralised exchange (DEX) volumes reached $47.44 million, indicating robust participation in token swapping activities. While speculative activity dominated the launch, the on-chain data shows that interest in the protocol remains strong. The project has raised over $70 million from investors, including Binance Labs, and has positioned itself as a key Layer 2 player within the zkSync ecosystem. Looking ahead, the next supply unlock looms large. Another 20% of SOPH’s total supply, designated as node rewards, will begin unlocking on a weekly basis starting three months from the Token Generation Event. If current market sentiment does not improve or if new utility use cases are not rolled out in time, this influx could trigger further downside pressure. Roadmap promises more utility, but outlook remains cautious Sophon has indicated that it intends to broaden SOPH’s use cases in the coming months. While no specific dates have been given, the team plans to expand the network’s entertainment applications and decentralised tools. In a recent post, the project team stated that additional products and services would be launched as part of its long-term roadmap. For now, though, the token’s performance is being closely watched by investors, particularly given its sharp debut correction. Airdrops have historically proven to be a double-edged sword—driving early adoption, but often at the cost of price stability.
Sophon’s SOPH Token Faces Over 33% Drop Post Airdrop and Binance Listing
Sophon’s utility token, SOPH, experienced a sharp decline of more than 33% within 24 hours of its debut and listing on Binance. The primary driver behind the price plunge appears to be the airdrop of 900 million SOPH tokens, 9% of the total 10 billion supply, unlocked at launch. Why is SOPH’s Price Declining? For context, Sophon is a Layer 2 ZK (zero-knowledge) blockchain built on Validium technology and part of ZKsync’s Elastic Chain vision. It is designed as a consumer-focused platform targeting entertainment applications. The blockchain offers high throughput, low fees, and Ethereum-level security. The project has raised over $70 million from prominent investors, including Binance Labs. On May 23, Binance announced SOPH’s listing via an X (formerly Twitter) post. “We’re pleased to announce that Binance will be the first platform to feature SOPHON (SOPH),” Binance posted. Trading commenced at 13:00 UTC on May 28. On the same day, SOPH also began trading on other major exchanges, including OKX, KuCoin, Upbit, Bitget, and MEXC, marking a broad rollout. According to data from CoinGecko, the token climbed to an all-time high of 0.11 shortly after launch. However, it saw a steep drop after this. Over the past day, SOPH’s price has depreciated by 33.3%. At the time of writing, the altcoin was trading at $0.06. SOPH Price Performance. Source: TradingView The decline also wiped out over $80 million in market capitalization. Furthermore, the trading volume surged 2,724.8%, indicating heavy distribution by early airdrop receivers. At the Token Generation Event, Sophon unlocked 9% of SOPH’s total supply for distribution. This included 6% allocated to Layer 1 farmers and 3% for eligible early contributors, zkSync users, and NFT holders. Notably, airdrops often lead to short-term price declines due to increased supply. This is especially true when a token’s utility is not yet fully established. Currently, SOPH’s immediate utility remains limited to gas fees and sequencer decentralization. Thus, this may not yet provide enough demand to counterbalance the airdrop-driven sell-off. “We expect the utility to evolve over time as our network and our product offering grows, incorporating new utilities as we do. There is plenty planned on the product front so stay tuned for the evolution of SOPH,” Sophon stated. Adding to the volatility, Binance applied a “seed tag” to SOPH. The seed tag is a classification for cryptocurrencies with higher risk and greater volatility than other tokens. It typically identifies new projects that are prone to larger price swings. Furthermore, the exchange introduced futures trading for SOPH with up to 75x leverage, amplifying price swings. Given these factors, the market sentiment surrounding SOPH remains fragile. That’s not all. After three months, an extra 20% of SOPH’s supply, allocated as node rewards, will begin unlocking weekly. If market sentiment does not improve, this could exert further downward pressure. Despite this, on-chain activity offers some optimism. Data from DefiLama revealed that Sophon’s total value locked (TVL) reached a peak of $20.28 million today. Sophon TVL and DEXs Volume. Source: DefiLama This reflected an increase of 14.1% from the previous day. Additionally, decentralized exchange volume reached a record peak of $47.44 million.
Binance Lists Sophon (SOPH) with Multiple Trading Pairs
Key Takeaways: Sophon listed on Binance with high volatility warning. Trades launched with USDT, USDC pairs. Binance facilitates trading with 50x leverage. Binance Listed Sophon (SOPH) – A New Era in Crypto Trading Binance listed Sophon (SOPH) on May 28, 2025, at 13:00 UTC, facilitating trades with multiple pairs including USDT and USDC. Sophon’s listing on Binance marks an essential addition, showcasing high potential for volatility and growth amid market intrigue. Introduction Sophon (SOPH) debuted on Binance, reflecting its prominence as the 20th Binance HODLer Airdrops project. It has gained interest due to its listing with a Seed Tag, highlighting its newness and potential volatility. As the Binance Team stated: Binance has officially listed Sophon (SOPH) on May 28, 2025, at 13:00 UTC. – Binance Announcement Trading Pairs and Leverage Binance offers SOPH trades against USDT, USDC, BNB, FDUSD, and TRY, emphasizing its strategic market reach. The SOPH U perpetual contracts allow up to 50x leverage, promoting diverse trading possibilities. Interested readers can read more on the official Binance announcement . Project Objectives and Market Impact Sophon targets the entertainment sector via a zkSync Layer-2 blockchain while the project claims backing from Binance Labs. Its high Total Value Locked (TVL) underscores potential financial prominence. Binance Alpha users can further explore how to claim SOPH tokens on launch . The listing affects market dynamics, especially attracting Binance Alpha users who can claim SOPH at launch. This participation boosts liquidity and showcases Binance’s positioning. Financial Implications and Future Prospects Financially, the SOPH listing highlights heightened trading activity and potential increases in market valuation, backed by significant ecosystem reserves and node rewards. Potential outcomes include regulatory considerations due to increased attention on volatile assets. Enhanced trading activities may lead to further incorporation of sophisticated trading mechanisms and analytics within broader crypto-financial landscapes.
ZKsync Foundation Executive Director: ZKsync is the Second Largest RWA Chain, Only Behind Ethereum
According to a report by Jinse Finance, Marco, the Executive Director of the ZKsync Foundation, disclosed data on the X platform showing that ZKsync has become the second-largest RWA chain, with a market share exceeding 18%, currently reaching 18.69% (surpassing the total of blockchains such as Solana, Aptos, Polygon, etc.). The total value of the RWA ecosystem protocol is approximately $2.2399 billion, second only to Ethereum. Currently, Ethereum's RWA market share reaches 58.63%, with the total value of the RWA ecosystem protocol reaching approximately $7.0266 billion.
Ethereum Foundation unveils ‘Trillion Dollar Security’ initiative to boost global trust
The Ethereum Foundation has launched the “Trillion Dollar Security” (1TS) initiative, a sweeping plan aimed at enhancing Ethereum’s security architecture to support trillions in on-chain value. According to a May 14 official announcement , the goal is to make Ethereum ( ETH ) secure enough to support trillions of dollars in value held by individuals, companies, and even governments. Ethereum is already one of the most secure blockchains and powers thousands of decentralized apps. But the Foundation says this isn’t enough. To support the next wave of users and real-world adoption, Ethereum needs stronger protections across every part of its system, from wallets to smart contracts to the core protocol. The 1TS initiative will start by identifying weak spots across the Ethereum stack. This includes areas like user experience, smart contract bugs, wallet security, and threats to the consensus layer of the blockchain. The team will work on enhancements and support initiatives aimed at long-term security upgrades based on this review. Fredrik Svantes and Josh Stark from the Ethereum Foundation will spearhead the initiative, with help from three renowned security specialists Zach Obront of Etherealize, Mehdi Zerouali of Sigma Prime, and Samczsun of SEAL. In addition, the 1TS program will fund bug bounties, official code checks, and improved developer tools. The goal is to make all users, from big organizations to private citizens, feel secure about storing value on Ethereum. The Foundation is asking the larger Ethereum community to participate and provide feedback on areas that require security enhancements. As more people and organizations rely on blockchain systems, Ethereum wants to make sure it can be trusted at the highest level. Aside from decentralized finance, the network already leads in market share for real-world assets, one of the fastest-growing and most promising sectors. As per RWA.xyz data , Ethereum currently holds $6.9 billion in tokenized real-world assets, accounting for over 58% of the total market. When including layer-2 networks like zkSync, that share rises to nearly 89%. The need for strong and reliable infrastructure is already becoming more urgent as more real-world assets move on-chain, hence the latest security initiative.
ZKsync X Account Hacked to Promote Fake Airdrop
ZKsync’s official X (formerly Twitter) account was briefly compromised to promote a fake ZK token airdrop. The fraudulent post claimed that every follower was eligible to claim a share of the initial token supply. It directed users to a suspicious link: “distribution-zksync.io.” The post remained live for approximately 15 minutes before being deleted. As of now, ZKsync has not issued any public statement confirming the breach. zkSync twitter is compromised. Don't interact. pic.twitter.com/1l9cNwBLUJ — pseudo (@pseudotheos) May 12, 2025 Despite the hack, there has been no significant immediate impact on the ZK token price, yet. However, further fallout could still materialize if user trust erodes. Security experts warn users to remain cautious and avoid interacting with any unverified links related to token distributions. This incident highlights the growing frequency of social media breaches targeting major crypto projects. This is a developing story.
Ethereum’s pectra upgrade prompts temporary pause from Binance and Coinbase
Top crypto exchanges Binance and Coinbase will temporarily pause Ethereum (ETH) deposits and withdrawals in preparation for the network’s upcoming pectra upgrade. Binance stated that ETH and tokens on Layer 2 networks like Arbitrum, Optimism, Base, Scroll, Worldcoin, and zkSync will be affected. The exchange pause starts at 09:45 (UTC). The exchange furthered that while trading will continue without interruption, users won’t be able to move funds in or out during the upgrade window. This action helps prevent potential issues from forks or network reorganization. Considering this, the exchange urged users planning to bridge or withdraw assets to act before the pause begins. Coinbase echoed the same approach, confirming that ETH transfers will be suspended as a precaution during the upgrade process. The Brian Armstrong-led exchange stated that new staking requests will be held until after 3:45 A.M. PT, though existing staked assets will remain untouched. Ethereum’s pectra upgrade The Pectra upgrade represents a significant technical milestone for Ethereum. It combines proposals from the Prague and Electra upgrades to streamline the user experience and developer operations. Pectra integrates eight Ethereum Improvement Proposals (EIPs), with one significant change drawing attention. The notable proposal, EIP-7702, introduces account abstraction. This feature allows regular crypto wallets to behave like smart contracts. As a result, users may eventually be able to pay gas fees using tokens other than ETH. However, the road to this upgrade has not been smooth. Ethereum developers faced finalization issues on the Holesky testnet due to bugs linked to incorrect deposit contract addresses. These caused chain splits and instability. A separate issue on the Sepolia testnet, triggered by custom deposit contracts, also disrupted block processing. Due to these setbacks, the developers launched a new testnet called Hoodi to finalize tests. Following successful test runs, Ethereum core developers confirmed that the Pectra upgrade will go live later today, May 7. Despite the upgrade’s hype and anticipation, ETH’s price has barely moved. Data from CryptoSlate shows only a 1.5% rise over the past 24 hours, with the token trading at around $1,828 as of press time. The post Ethereum’s pectra upgrade prompts temporary pause from Binance and Coinbase appeared first on CryptoSlate.
5 Reasons to Be Bullish on Ethereum Long Term
Ethereum, the world’s second-largest blockchain network by market capitalization, is facing a flat price trend in early 2025. Still, many developers, investors, and analysts remain confident in its long-term value. From infrastructure upgrades to token standards and rising institutional interest, several key developments suggest Ethereum may be well-positioned for sustained growth. Below are 5 reasons to be bullish on Ethereum over the long run. ETHUSDT CHART 1. Vitalik Buterin’s Plan to Simplify Ethereum and Boost Performance Ethereum co-founder Vitalik Buterin recently proposed replacing the Ethereum Virtual Machine (EVM) with a new execution environment based on RISC-V, an open-source processor instruction set. The goal is to make Ethereum’s codebase simpler, faster, and easier to maintain, while still supporting existing smart contracts. Buterin believes this could lead to a 100-times increase in efficiency for zero-knowledge proofs, which are key to scaling and privacy. He also said the network could become “close to as simple as Bitcoin” within five years, helping Ethereum become more neutral and trustworthy as a global base layer. Although the plan involves risks, such as breaking backward compatibility and requiring developer retraining, it signals a serious effort to reduce complexity and improve Ethereum’s long-term sustainability. 2. Ethereum’s Role in Tokenizing Real-World Assets Institutional interest in Ethereum is growing. One example is BlackRock’s plan to tokenize $150 billion in U.S. Treasury assets, a move that would bring traditional financial products onto the blockchain. These trades are expected to happen onchain, and Ethereum is widely seen as the likely network of choice. If this happens, it could increase Ethereum’s total value locked (TVL) by up to 4 times, from $52 billion to more than $200 billion. This would strengthen Ethereum’s lead in decentralized finance (DeFi), where it already far outpaces other networks like Solana. More importantly, success by BlackRock could start a domino effect, encouraging other institutions to bring their assets onchain—and possibly on Ethereum. 3. Ethereum’s Growing Focus on Interoperability Ethereum developers are actively working on improving cross-chain communication. Two new token standards, ERC-7828 and ERC-7930, are being developed to help applications, wallets, and block explorers understand token data more clearly. ERC-7930 introduces a compact, binary format for cross-chain addresses, while ERC-7828 adds a human-readable version. These changes aim to create a simpler, unified user experience across Ethereum-compatible chains. This kind of interoperability is critical as the blockchain ecosystem becomes more interconnected. If adopted widely, these standards could reduce user mistakes, improve wallet compatibility, and help Ethereum remain the dominant base layer for cross-chain applications. 4. On-Chain Metrics Point to Accumulation Ethereum’s MVRV Z-Score, a key on-chain indicator, has returned to its historical accumulation zone, suggesting that ETH may be trading near its cycle bottom. In previous cycles, similar readings occurred just before multi-month or multi-year price increases, including in late 2018, March 2020, and mid-2022. This does not guarantee price movement in any direction, but it shows that many long-term holders are accumulating ETH at current levels. Such behavior typically reflects growing confidence in the network’s future potential, regardless of short-term volatility. 5. Ethereum Layer 2 Projects Are Making Major Progress Ethereum’s rollup-based scaling strategy continues to show results. This week, Layer 2 project Scroll announced that it has become the first zk-rollup to allow users to exit independently without relying on a central sequencer. This milestone moves Scroll closer to full decentralization and improves user trust. Ethereum’s ecosystem now includes multiple Layer 2 solutions, such as Optimism, Arbitrum, zkSync, and StarkNet. Together, they are making Ethereum more scalable and affordable, while maintaining strong security from the Ethereum mainnet. These developments are part of Ethereum’s broader effort to become the foundation for all types of digital activity—from finance to identity, gaming, and real-world asset settlement.
Crypto Weekly Roundup: zkSync Recovers Lost Funds, SEC Postpones Polkadot and Hedera ETFs & More
Bitcoin ETFs saw strong inflows this week, while major firms like Stripe, Coinbase, and Trump Media advanced their crypto strategies. ZKsync recovered $5.7M from a hack, and the SEC postponed decisions on Polkadot and Hedera ETFs amid rising regulatory activity. Let’s find out more. Bitcoin The U.S. Spot Bitcoin ETFs bought another sizable amount of BTC on Thursday, bringing the total inflow so far this week to 29.45K BTC, equivalent to $2.65 billion. Business Stripe , a global payments platform, is building its first stablecoin financial product for companies based outside the United States, the United Kingdom, and Europe to expand the footprint of the Dollar in global markets. Coinbase, the largest publicly listed cryptocurrency exchange, has announced that it will waive transaction fees for trades involving PayPal’s stablecoin, PYUSD. The move, part of a wider strategic collaboration between the two firms, aims to promote the adoption of stablecoins in mainstream payment systems and digital commerce. Trump Media has partnered with Crypto.com and Yorkville America Digital to launch a series of “Made in America” crypto-focused ETFs under its Truth.Fi brand, marking its formal entry into the digital asset investment market. Deutsche Bank and Standard Chartered are considering expanding their crypto operations into the United States, driven by favorable regulatory developments, client demand, and long-term strategic positioning. Tokyo-listed Metaplanet has purchased an additional 330 BTC worth $28.2 million, lifting its total holdings to over $423 million and positioning it as Asia’s largest corporate Bitcoin holder. Web3 Verifiable AI is becoming a palpable trend as public awareness of the downsides of black-box AI grows. Decentralized money markets allow users to lend and borrow cryptocurrencies and tokenized assets on-chain, and they need nothing but an internet connection. Alongside the growth of DeFi in general, these markets have been a rapidly growing use case of smart contracts, with all the latter's pluses and minuses. Security The ZKsync Association has successfully recovered approximately $5.7 million worth of digital assets following a security breach earlier this month. The resolution came after the hacker responsible for the incident accepted a bounty offer and returned the majority of the stolen tokens within a designated timeframe. A critical security incident has compromised a widely used software library in the Ripple XRP ecosystem, putting thousands of crypto wallets at risk. Regulation The United States Securities and Exchange Commission (SEC) has extended its decision deadlines for two crypto exchange-traded fund (ETF) proposals tied to Polkadot (DOT) and Hedera (HBAR), as the agency continues to navigate an expanding pipeline of digital asset fund applications. Russia’s finance ministry and central bank are moving forward with plans to establish a state-backed cryptocurrency exchange exclusively for the country’s wealthiest investors. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Ethereum: Why the Hate? (Other Than Over 3 Years of Disappointment)
If you're an Ethereum holder and like to torture yourself from time to time, you probably take a sneak peak at the long-term price ratio between BTC and ETH. And, well... it's not the most pleasant sight: Since the start of December, 2021, Ethereum's price ratio vs. Bitcoin is a whopping and painful -77% for the faithful holders of crypto's #2 market cap asset. But when adding on the price against the dollar, things don't look quite as grim (albeit you'd still have never gotten an opportunity to sell for profit if you bought your coins during the November, 2021 $4.76K all-time high: From a price perspective, things have gotten so grim that many traders are unironically comparing it to a regular old "shitcoin". Many non-ETH holders are even laughing from the sidelines as they know that many "shitcoins" have significantly outperformed ETH over the short, mid, or long term timeframes. And there are legitimate arguments on why the once darling coin that would one day "flip" Bitcoin's market cap and become the top asset in crypto is now the laughing stock amongst top cap assets from the crowd's perspective... and yes, it is still the 2nd largest market cap by a wide margin (28.2% higher) over Tether. But avoiding favoritism and biases, especially for the largest market caps in crypto (which have either made or broken many traders) is difficult for the community. And we need to understand what may have happened since late 2021 that has left Ethereum so high and dry while so many smaller cap coins have made up so much ground (irrespective of Bitcoin). Here is a short list of some of the more common narratives and theories that the "ETH bear" community has latched on to (whether all are valid criticisms or not): Competition from Layer-2: Ethereum created Layer-2 solutions to speed transactions, but these took away investment directly from Ethereum itself, spreading user interest thin. Investor Confusion: Ethereum’s complex upgrades confused investors, making them cautious and hesitant compared to simpler investments like Bitcoin. Slow Updates and High Fees: Ethereum's slow improvements and high transaction fees frustrated users, pushing them toward cheaper and faster alternatives. Regulatory Worries: Uncertainty about government rules made investors wary of Ethereum, favoring Bitcoin due to its clearer legal status. Rising Blockchain Rivals: Newer blockchains like Solana or Cardano attracted users with cheaper and faster platforms, pulling investment away from Ethereum. Unclear Investment Narrative: Bitcoin was seen as stable "digital gold," and new altcoins promised higher returns. Ethereum, caught in-between, lacked a clear, appealing narrative. Constant Selling Pressure: Regular selling from staked ETH after upgrades created steady downward pressure on Ethereum’s price, limiting growth compared to Bitcoin. But for those who actually may have taken the skepticism to the extreme, Ethereum is not "a scam". The team has been working on improving and innovating at an incredibly high rate since it began being available for public trade in 2015, and is currently the 7th most developing asset in crypto over the past 30 days. And we also need to note how many milestones and advancements the #2 market cap asset has made in recent years. Vitalik Buterin's creation has certainly not just sat idly by without significant progress, and the coin has seen the leading ecosystem contributors and development and expansion. Here are some of the many milestones Ethereum has seen during its period of "letdown": Ethereum’s Transition to Proof-of-Stake (The Merge) – September 2022 Date: September 15, 2022 Significance: Ethereum transitioned from Proof-of-Work (PoW) to Proof-of-Stake (PoS), merging the original Ethereum mainnet with the Beacon Chain. Impact: Energy consumption dropped by over 99.9%. ETH issuance reduced significantly, moving Ethereum towards becoming deflationary. Set foundation for future scalability upgrades. Shanghai (Shapella) Upgrade – April 2023 Date: April 12, 2023 Significance: Enabled withdrawals of staked ETH for validators on Ethereum’s Beacon Chain Impact: Greatly improved liquidity of staked ETH, boosting confidence among institutional investors. Completed Ethereum’s PoS transition, as validators could now freely withdraw rewards and principal. Launch of EIP-4844 (Proto-Danksharding) – Planned 2023-2024 Testnet Launch: Late 2023 (Deneb-Cancun Testnets); Expected Mainnet: Mid-2024 Significance: Introduction of “blob-carrying transactions” to significantly reduce Layer-2 costs. Impact: Dramatically lowered transaction costs (gas fees) for Layer-2 rollups like Optimism, Arbitrum, Base, and zkSync. Marked a critical step toward full Ethereum scalability (Danksharding). Rise of Layer-2 Networks and Adoption (2022-2024) Significance: Explosive adoption and maturity of Ethereum Layer-2 (L2) solutions, notably: Optimistic Rollups: Arbitrum One, Optimism, Base (Coinbase-backed) Zero-Knowledge (ZK) Rollups: zkSync Era (zkSync 2.0), Polygon zkEVM, StarkNet, Scroll Impact: Daily transactions on Layer-2 exceeded Ethereum Mainnet by late 2023. Reduced congestion and gas fees on Ethereum mainnet, making Ethereum viable for mainstream adoption and consumer applications. Ethereum Futures ETF Approval (US) – October 2023 Date: October 2023 Significance: The SEC approved the first Ethereum Futures ETFs in the United States, including products from VanEck, ProShares, and others. Impact: Opened Ethereum to mainstream institutional investment through regulated financial products. Increased ETH's legitimacy in the eyes of traditional finance, boosting liquidity and price stability. Rapid Expansion of Liquid Staking Derivatives (LSDs) – 2023-2024 Significance: Massive growth of liquid staking platforms such as Lido Finance, Rocket Pool, Coinbase cbETH, and Frax ETH. Impact: LSD protocols captured billions in TVL, becoming dominant DeFi protocols. Enhanced ETH staking flexibility, adoption, and decentralization. Decentralized Social Networks and On-chain Identity (2023-2024) Significance: Growing adoption of decentralized social protocols (Lens Protocol, Farcaster, Ethereum Name Service) for decentralized identities and social media. Impact: Broadened Ethereum’s use-case from DeFi/NFT speculation into broader decentralized applications (dApps). Increased ecosystem activity and developer adoption significantly. Ethereum’s Dominance in DeFi Resurgence (2023-2024) Significance: Ethereum maintained its dominance in decentralized finance (DeFi), with major protocols (Uniswap V4, Aave V3, Curve stablecoin crvUSD, MakerDAO’s Endgame Plan) evolving to become more sustainable, secure, and accessible. Impact: Ethereum solidified its position as the undisputed DeFi backbone despite competition from other chains. Improved risk management and resilience in decentralized lending and stablecoins. And on that note... yes, there are still plenty of believers in Ethereum, which is currently sitting with a market value of ~$1,540 at the time of this writing. If there weren't people buying others' consistent selloffs, the asset likely would have lost its #2 market cap position long ago. Remember that there are cases for Ethereum to be a good buy in 2025. With the crowd showing an increased level of bearishness, this adds to the bullish case. Markets always move the opposite direction of the crowd's expectations, and the logic of "it has under performed for so long, therefore it will continue to do so" is typically not a strong enough argument to be taken seriously. Other cons we have listed in this article (revolving mainly around ETH's speed and cost) are more legitimate reasons, but remember that there is quite the dedicated team that is innovating and improving the project on a daily basis. And that usually doesn't lead to a coin's demise. ----- Free two-week trials to Sanbase PRO (to access all mentioned Santiment data in this article, and plenty more) are ----- Disclaimer: The opinions expressed in the post are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product.
Lens Protocol Launches Lens Chain Mainnet with Avail and ZKsync
What to Know: Lens Chain mainnet launched using Avail and ZKsync. Launch aims to enhance SocialFi capabilities. Promises improved scalability and security. Lens Chain Mainnet Launch Enhances SocialFi Capabilities with Avail and ZKsync Lens Protocol has officially launched the Lens Chain mainnet, incorporating Avail and ZKsync technology on October 2023, marking a significant development in the world of SocialFi. This major release aims to enhance network efficiency, offering improved scalability and security for the burgeoning SocialFi market. Lens Chain Mainnet Utilizes Cutting-Edge Blockchain Technologies In a major development within the SocialFi sector, Lens Protocol has introduced its Lens Chain mainnet. This new mainnet integrates Avail DA and ZKsync technologies to optimize network efficiency and user experience. The integration of these technologies marks a significant upgrade over previous infrastructure, enhancing network capabilities and providing stronger security measures across the platform. Stani Kulechov, CEO of Avara, said, “The competitive edge offered by zkSync’s hyperchains and Avail DA’s scalability and resilience underpins Lens’ ability to scale for mass adoption without compromising decentralization.” Community Responds Positively to Lens Chain Launch The release is expected to elevate SocialFi infrastructure, impacting users and developers by providing efficient and secure operations. Reaction from the community has been positive, reflecting confidence in the protocol’s future. Financial markets may observe shifts with this launch, indicating growing investment in SocialFi. Analysts highlight potential capital influx into the sector. Enhanced Engagement and Security Expected Past tech integrations within other protocols have shown improved user engagement and profitability. This latest move is compared to those historical strategies but shows advanced modalities suited for today’s challenging crypto landscape. Industry experts predict that the adoption of Avail and ZKsync will lead to competitive advantages for Lens Protocol, suggesting potential for increased network traffic and widespread utilization. Alternative sources for verifying this launch and technological advancements include official announcements through Lens Protocol’s communication channels. Debugging and adoption statistics will serve as further metrics for measuring success.
Scroll co-founder argues taxing layer-2 networks is threat to Ethereum’s values
Ye Zhang, the co-founder of Ethereum layer-2 network Scroll, has pushed back against calls for Ethereum to impose fees on layer-2 networks. Zhang argued in a detailed social media post on April 2, that the proposal was harmful to Ethereum’s long-term vision. He called it a “toxic” approach that prioritizes short-term revenue over lasting ecosystem value. According to Zhang, Ethereum’s strength lies not in extracting fees from rollups but in positioning ETH as the central asset across multiple Layer-2 (L2) ecosystems. He argued that taxing these networks mirrors corporate behavior and runs counter to the principles of decentralization that Ethereum stands for. He emphasized that Ethereum’s value should not be measured by protocol income. Instead, the network should be considered an economic foundation for a growing rollup-centric ecosystem. He noted: “ETH’s real strength isn’t in protocol fees — it’s in becoming the hub asset across thousands of rollup ecosystems. That’s the future.” Zhang explained that ETH’s advantage is its presence across major L2 platforms like Base, Arbitrum, Optimism, zkSync, and Scroll. Even on networks like StarkNet, that don’t use ETH for gas, he noted that the digital asset remains a key trading pair on decentralized exchanges. Ethereum’s future Considering this, Zhang outlined two possible directions for Ethereum. In one scenario, ETH evolves into a trusted store of value and a central hub for rollup activity. According to Zhang: “Every aligned L2 expands Ethereum’s surface area and social consensus. A thousand scalable rollups with ETH as the center > any monolithic chain.” On the other hand, Ethereum could become focused on taxing L2 activity, which could drive them toward alternative data availability layers and reduce ETH’s influence in the broader blockchain landscape. To avoid this, Zhang urged the community to focus on scaling execution and improving data availability infrastructure. He called for a 1000x improvement in blob capacity and encouraged building out shared tools like cross-rollup liquidity bridges and interoperability solutions. Zhang concluded: “ETH wins by being the gravity, not the toll booth.” The post Scroll co-founder argues taxing layer-2 networks is threat to Ethereum’s values appeared first on CryptoSlate.
Data: Berachain, Aptos and zkSync Era rank in the top three for net inflow of cross-chain bridge funds in the past 7 days
News on March 31, according to DefiLlama data, Berachain's cross-chain bridge net inflow of funds reached $195.55 million, ranking first among all public chains. Next are Aptos and zkSync Era, with net inflows of $24.36 million and $14.02 million respectively. Arbitrum, Ethereum and Avalanche had net outflows of $256 million, $69.71 million and $42.35 million respectively.
How to Bridge to zkSync
zkSync is an efficient layer 2 solution that enables decentralized applications (dApps) and decentralized finance (DeFi) platforms to thrive without compromising security or decentralization. In this article, we will give a clear description of zkSync and how to bridge assets from your wallet to zkSync. What is zkSync? zkSync is a layer 2 protocol developed by Matter Labs to solve the problem of scalability so that mass adoption of crypto becomes possible, along with various blockchain ideas that require mass adoption as a prerequisite. It is built on top of the Ethereum blockchain and uses ZK (zero knowledge) based cryptographic proofs to process transactions. This method increases throughput while maintaining security, decentralization, and sovereignty. By leveraging zk-rollups, zkSync processes transactions off-chain, submitting only the final proof to Ethereum for verification. The need for scalability is endless for blockchains with new dApps, DeFi, and increasing user base, and to truly solve this major challenge, blockchains need to be able to scale like Web 2. This allows blockchains to process an unlimited number of transactions without worrying about their costs or security. How Does zkSync Work? By utilizing zk-rollups, zkSync transfers all transactions off-chain and then collects and bundles them into batches. This reduces the load on the mainnet, thereby increasing its efficiency and reducing the gas fees. zkSync processes these batches using zero-knowledge proofs to ensure they are valid while keeping the details private. Later, these proofs are submitted to the mainnet, where they are validated. Once verified, the transactions are recorded on the blockchain. zkSync Official Bridge The official zkSync bridge only supports asset transfer between Ethereum and zkSync, and communication between the networks happens through the bridge. The bridge protocol introduces two smart contracts, one on the mainnet and the other on the zkSync. To move assets to the layer 2 network, the user deposits the funds on the mainnet by calling the deposit function, and the assets are then locked on the mainnet. Then, the smart contract on the mainnet communicates with the zkSync to start the minting process, where an equal amount of locked assets are minted. Finally, the smart contract calls for the finalize deposit method to finalize the transfer. In case of withdrawals, the amount of deposited funds are transferred to the withdrawing address while an equal amount of assets are burned on the zkSync. How to Bridge to zkSync From Ethereum? 1. First, open your browser and visit the official zkSync website. 2. On the official website, click on the Bridge Now tab, which is available at the top. 3. It will take you to a new tab and select Connect wallet. Make sure that the From address is selected as Ethereum and the To address is selected as zkSync. 4. In the window that appears, choose your wallet provider and scan the QR code on the screen with your phone. 5. Your Ethereum wallet will be connected, and on the Ethereum Mainnet tab, it will show your balance. Enter the amount you want to bridge. 6. On the zkSync tab, you can see your default zkSync Era Mainnet account. You also have the option to edit your mainnet account. 7. Under the zkSync tab, you can see the fees you are going to pay in order to bridge to zkSync. Click on Continue. 8. On the screen, a window displaying the transaction details will appear. Check whether all the details are correct and select Add funds to zkSync Era Mainnet. 9. Now, your wallet will prompt you to confirm the transaction, so sign in to your wallet and confirm it. Note: It takes 15 minutes to bridge from ETH to zkSync and 24 hours to bridge from zkSync to Ethereum. How to Withdraw to Ethereum From zkSync? 1. Go to the Withdraw section by clicking on Withdraw on the Bridge page. 2. Change the From address from Ethereum Mainnet to zkSync Era Mainnet. 3. Enter the account details of your wallet following the instructions mentioned above and select Continue. 4. Select Send to Ethereum Mainnet to complete the withdrawal process. Reason to Choose Alternative Platforms to Bridge Assets Although it is quite easy to transfer funds using zkSync, it is impossible to transfer funds from blockchains other than Ethereum. Furthermore, the waiting period is too long, and it takes hours to process the transaction. On the other hand, alternative platforms offer low fees, fast transactions, and support a variety of crypto assets. Rhino.fi is one among those alternative platforms. Rhino.fi 1. Open your browser and go to the official website of Rhino.fi. 2. Select Go to bridge on the home page. 3. On the Bridge page, click on Connect wallet. A window called Connect your wallet will appear on the screen. 4. Choose your wallet provider from the available options and follow the necessary steps to connect to the platform. 5. Once you have signed in, click on Deposit to deposit funds on Rhino.fi account. 6. Choose the network you want to deposit from and enter the deposit amount. 7. Select Deposit and approve the transaction on your wallet. 8. Now that your funds have been deposited on Rhino, the next step is to bridge them to the zkSync Era. 9. Click on Bridge on the menu available on the left side of the screen. 10. Choose the asset you want to bridge and enter the amount. 11. Select Review Bridge to evaluate the transfer. Once the transfer is evaluated, the process will be completed. Conclusion The zkSync official bridge facilitates asset transfer between Ethereum and zkSync through a structured process involving smart contracts on both networks. However, it only supports Ethereum and has high fees and long wait times. Alternative platforms like Rhino.fi offer faster transactions, lower fees, and broader asset support. The post How to Bridge to zkSync appeared first on Cryptotale.
RWA in DeFi Just Crossed $10B as Institutions Join In
RWA’s total value locked in DeFi surpassed $10 billion, with four major protocols each exceeding $1 billion. Institutional interest and blockchain scalability are driving real-world asset adoption across DeFi platforms. The total locked value (TVL) in Real-World Assets (RWA) in the decentralized finance (DeFi) sector has exceeded $10 billion, according to DefiLlama . This figure is a strong signal that the real world and the crypto world are getting closer and almost inseparable. Source: DefiLlama In the past, talking about blockchain and traditional assets in one breath felt like uniting two worlds that were impossible to meet. But now? It’s a different story. This TVL spike is supported by major projects such as Maker RWA, BlackRock BUIDL , Ethena USDtb, and Ondo Finance . Each of them has even passed the $1 billion mark on its own. If this were likened to a supermarket, these four players would be the investors’ baskets—full and heavy, meaning that trust in the tokenization of real-world assets is increasing. Furthermore, the appeal of Ethena USDtb also adds a different color. This stablecoin is indeed unique because it relies on BlackRock’s money market funds and a strategy integrated with USDe. And interestingly, in the past month, USDtb’s TVL has jumped more than 1,000%. Yes, that number is not a typo. It’s like putting a piece of paper under a fan—it goes flying high. zkSync Hits the Gas in the RWA Race On the other hand, CNF earlier reported that, with a total TVL of $2.03 billion, zkSync Era became the second-largest blockchain for RWA following an explosive 953.79% increase in 30 days. With $4.12 billion, Ethereum still leads, but zkSync’s speed is difficult to overlook. Layer-2 scalability’s appeal, acceptance from major universities, and several incentives meant to draw in fresh users help to explain this success. Think of it like a car race: Ethereum is the reigning champion who knows the track well, but zkSync is the newcomer with turbos on all wheels. And yes, there’s still a long way to go. 2025 Could Be the Year of the Tokenized World If you think this is just a passing trend, take a look back at The Australian article published on December 30, 2024. It states that the tokenization of real-world assets is predicted to be one of the major trends in the crypto industry in 2025. This process involves transforming assets such as real estate, intellectual property rights, and commodities into digital tokens on the blockchain. With tokenization, assets that were previously difficult to trade can be divided like pizza—anyone can have a slice. Not only does it make access easier, but it also opens up new possibilities for more transparent and efficient asset management. DTCC’s Move Turns Heads Toward RWA Fascinatingly, the largest securities depository in the world, the Depository Trust & Clearing Corporation (DTCC), officially registered with the ERC3643 Association on March 20, 2025. Under supervision of the ERC-3643 permission-based real-world asset token standard is this association. The action of DTCC reveals the seriousness of big institutions regarding RWA . Though there were critics in the past, anyone who still views DeFi as a “wild experiment” had to reconsider today. Since the ERC-3643 standard is seen as keeping with their objective of building a safer and more efficient financial system, the DTCC has even openly expressed its support for it. Should an institution of this size step into the arena, it feels like validation for RWA is undeniable. A Costly Reminder That Security Still Matters However, not all news from the world of RWA is as beautiful as the sunrise over the mountains. On March 21, 2025, a real-world asset restaking protocol called Zoth was attacked by irresponsible parties. The result? A loss of over $8.4 million. Within minutes, their deployer wallets were compromised, then assets were stolen, converted to DAI stablecoin, and disappeared to other addresses. This incident shows that even though tokenization is becoming more popular, the security aspect is still a big challenge. It’s like a luxury house without a fence: it looks charming, but it’s still vulnerable to being broken into if the lock is weak.
ZKasino Making a Comeback? New Project WhiteRock Accused of Team's Same Developers "Rebooting"
Original Article Title: "Did the Co-founder Who Absconded with $33 Million from ZKasino Come Back with a New Project?" Original Article Author: Ding Dang, Odaily Planet Daily In the world of cryptocurrency, trust is a scarce resource, and scandals often spread faster than innovation. On March 16, renowned crypto KOL Hebi (@hebi555) revealed on Platform X that Prometheus, the co-founder of the ZKasino project, who had previously absconded with over 10,000 ETH worth up to $350 million, has resurfaced under a new identity, launching the new project @WhiteRock_Fi. Hebi called on industry professionals to remain vigilant to prevent more investors from falling into potential pitfalls. This news quickly sparked discussion, considering that the shadow of ZKasino's "exit scam" has not yet dissipated. So, who exactly is Prometheus? What story lies behind WhiteRock_Fi? Recap of the ZKasino Exit Scam ZKasino was once a shining star in the 2024 zkSync ecosystem, initially positioned as a decentralized prediction market entertainment platform, later transforming into a "superchain" infrastructure, attracting a large number of investors through the "Bridge-to-Earn" event. However, the plot took a sudden turn in April: the project team abruptly changed the rules on the official website, announcing that the 10,515 ETH deposited by users (then valued at around $33 million) would be forcibly converted to ZKAS tokens and locked up for 15 months. This move was criticized by the community as a "soft rug pull." Subsequently, the funds were swiftly transferred to the Lido staking platform, and the official communication channels were closed, leaving investors in complete panic. Following the escalation of the incident, Dutch authorities arrested a 26-year-old man on May 3, suspected to be Elham N. (alias Derivatives Monke), another co-founder of ZKasino, and seized assets worth $12.2 million. However, Prometheus seems to have successfully remained "invisible" and has not been held accountable to this day. It is worth noting that ZKasino had received favor from institutions such as MEXC and Big Brain Holdings, and its valuation had once soared to $350 million. After the incident, the project team argued for "fund security" and launched a so-called "refund application," but this did not appease public anger. Investors lost everything, and the community's trust in similar projects hit rock bottom. According to the SlowMist Security Firm's statistics, with an amount involved of $33 million, ZKasino topped the list of the top ten exit scams of 2024, leaving an indelible scar on the industry. Founder: From Tech Star to Controversy Vortex The true identity of Prometheus remains a mystery to this day, but he is far from unknown in the crypto circle. He was involved in the well-known DEX project Zigzag Exchange in the zkSync ecosystem, which raised a staggering $15 million, earning him a respectable reputation. However, the ZKasino incident completely overturned his image. Norwegian media Aftenbladet once reported that a young man from Rogaland (alias Prometheus) was accused of absconding with 350 million Norwegian krone (about $35 million), and the community even offered a reward to trace his personal information. From a tech star to a wanted controversial figure, Prometheus's fall from grace is truly lamentable. WhiteRock: The Temptation and Suspicion of a Mysterious New Project Recently, a new project named WhiteRock_Fi quietly went live. Information about WhiteRock_Fi is currently extremely limited. According to its website (whiterock.fi) introduction, WhiteRock_Fi aims to tokenize traditional financial assets (such as stocks, bonds, and real estate) through blockchain technology, promising to "unlock global liquidity, democratize financial participation." The project slogan is quite attractive: "Buy stocks, bonds, and real estate with cryptocurrency, assets secured by smart contracts." As a project in the RWA (Real World Asset) track, WhiteRock_Fi seems to have caught the industry's wave. However, its lack of a whitepaper and clear team information raises doubts about its actual implementation capabilities—after all, the RWA track connects to traditional assets and heavily relies on team resources. Currently, WhiteRock_Fi's token WHITE has been traded on platforms like Uniswap V2, with limited trading volume, but community discussions are heating up, and its Telegram account has attracted approximately 32,000 followers. At this moment, HeCoin's exposure casts a shadow over the project. HeCoin pointed out that Prometheus is suspected of operating WhiteRock_Fi under a new identity, and its modus operandi is strikingly similar to ZKasino: high-profile marketing tactics, KOL endorsements to attract funds, and hidden risks in the codebase. HeCoin's exposure has sparked widespread discussion, with comments below his post stating: "We've just researched this project, the product is interesting, but the team composition, institution, celebrity endorsements are unclear, which is a risk factor." 「I have been looking into the background of this project, very suspicious. The token pool has no depth, the claimed partnerships cannot be verified. The total token supply is 650 billion, with 10 billion sent to Trump. So, it is tentatively classified as a scam.」 Currently, there is no concrete evidence to suggest that WhiteRock_Fi has started fundraising to replicate the "bridge scam" of ZKasino. Therefore, at this stage, it can only be seen as a potential risk point worth paying attention to. At the same time, WhiteRock_Fi's Telegram community has not yet formally responded to the accusations, maintaining a mysterious low profile. ZKasino's Fund Adventure: User Assets at Stake The ZKasino incident is far from over with the "refund promise." On-chain data analyst Yu Jin discovered that ZKasino's multi-signature wallet (presumably controlled by the team) has repeatedly used user funds for high-risk operations, such as using funds as collateral to borrow other assets and participate in market speculation. The community speculates that this may be the team's attempt to make up for funding shortfalls or seek additional profits through adventurous investments. However, this arbitrary use of user assets not only exposes the team's integrity crisis but also shatters investors' last bit of trust in the security of their funds. The warning from HECoin may be based on this background, perhaps serving as a reminder to the industry to beware of Prometheus' new actions. Industry Reflection: How to Rebuild Trust? From ZKasino to WhiteRock_Fi, Prometheus' story is like a mirror, reflecting the deep-seated dilemma of the crypto industry: a lack of regulation and transparency allows project teams to take advantage, and investors often only wake up after losses occur. HECoin's exposé is not just a question of WhiteRock_Fi but also a warning bell for the entire ecosystem—before participating in a new project, in-depth investigation of the team's background and fund flow has become a survival rule. Original Article Link
The total value of storage bridged by Starknet exceeds 960,000 ETH
Dune data shows that the total value of zkSync bridge storage has reached 3,752,843 ETH, Starknet bridge storage's Total Value Bridged (TVB) is 969,810 ETH with a total number of bridging user addresses at 1,227,680. The total value of Arbitrum bridge storage is 4,770,622 ETH; Optimism bridge storage totals to 873,643 ETH and Base bridge storage amounts to 630,882 ETH.
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