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DeFi lending sees increasing collateral deposits after weeks of decline.
Stablecoin issuance surges in Asia-Pacific, driven by payment and remittance use-cases.
Privacy-focused projects integrate messaging and payments for wider ecosystem utility.
Bitcoin’s dominance in the market was 57.27%.
The CoinMarketCap fear and greed index listed the crypto sector in the ‘greed’ zone, indicating a market primed for potential correction.
Ethereum is set to undergo a significant upgrade known as EIP-4844, or Proto-danksharding, which aims to drastically reduce transaction costs. This upgrade is expected to enhance Ethereum’s scalability and efficiency, making it more attractive for developers and users . The Proto-danksharding upgrade is crucial for Ethereum’s future, as it addresses scalability issues and reduces transaction costs. By making Ethereum more efficient, this upgrade is likely to attract more developers and applications to the platform, reinforcing its position as a leading blockchain network.
News: SocialFi, which combines decentralized finance (DeFi) with social media elements, is gaining popularity. Platforms like friend.tech have attracted significant user engagement and generated over $25 million in fees since their launch, highlighting the potential of SocialFi in the crypto ecosystem . SocialFi represents an innovative fusion of social media and financial services, creating new opportunities for user engagement and monetization. The success of platforms like friend.tech indicates a growing interest in this sector, suggesting that SocialFi could become a major trend in the coming years.