Must-explore Airdrops and Testnets for August 2024
Also read - Binance Research’s new half-year report July 2024. What do we expect going forward?
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1. Crypto Funded
2. Token Updates
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Token Updates
Coinbase Reports $1.45 Billion in Q2 Revenue Despite Decline in Profits
Coinbase saw a year-over-year revenue increase for Q2, reaching $1.45 billion, but experienced an 11% decline from the previous quarter. Consumer transaction revenues fell by 29% to $665 million, while stablecoin revenue rose to $240.4 million. Notably, Solana accounted for 10% of Coinbase’s transaction revenues.
Wormhole ($W) Prepares for a Massive Unlock. Wormhole is the leading interoperability platform powering multichain applications and bridges at scale. Wormhole ($W) is set to unlock about 33.3% of its circulating supply, approximately 600 million $W tokens! This event will increase the total circulating supply to 25.78%. The Wormhole Foundation will hold the 600 million $W tokens unlocking tomorrow in trust, planning to use them for future community-related projects. This means no likely immediate selling pressure from this unlock
Binance Research’s new half-year report July 2024. What do we expect going forward? (1) Bitcoin L2s: due to the various innovations taking place in the ecosystem, transaction fees have been steadily rising. The case for Bitcoin scalability and L2s is becoming stronger every day, with OGs like lightning, Stacks, as well as newer teams like citrea_xyz and MerlinLayer2, shipping solutions. (2) More Bitcoin dApps: the indirect effect of the launch of Ordinals has been the ushering in of a new renaissance for Bitcoin expressivity. Numerous new Bitcoin projects have either launched in the last year, or secured funding and are being developed. We are likely to see more activity on this front in the coming months. (3) ETF dynamics: TradFi firms usually take a cautious approach to new markets like crypto. Thus, while the ETFs went live in Jan, we can expect financial advisors to take many months to educate themselves before entering the market. More onboarding is expected over the next few months.
Binance Labs has unveiled the first batch of projects that it admitted into Season 7 Incubation:
Astherus is a liquidity hub for staked assets such as liquid staking tokens (LSTs) and liquid restaking tokens (LRTs).
CYCLE NETWORK is a universal, secure and verifiable chain abstraction that offers a bridgeless aggregate liquidity network for all blockchains, whether L1s, L2s, EVMs, or non-EVMs.
DILL is the most scalable data availability network, fully compatible with the Danksharding roadmap.
EigenExplorer is EigenLayer's first native DeFi protocol.ENS domains are available on Linea. Ethereum addresses are essential but hard to remember. Ethereum Name Service (ENS) simplifies this by translating blockchain addresses into human-readable names.
Galaxy Announces Second Quarter 2024 Financial Results. Net loss of $177 million for the second quarter. Net income of $245 million for the six months
Bracket announces the launch of BARS staking program
Users can earn rewards by staking in the escrow app, participating in platform activities, and completing quests. Bracket Labs, incubated by Binance Labs, builds leveraged structured products on-chain with simple interfaces and innovative, adaptive pricing to vastly improve usability.
