Chainlink Unveils Digital Asset Sandbox to Boost Web3 Exploration for Financial Institutions
Daily Top Performer — Mantle Network (MNT)
The SPX index was down by 0.78%, and broad market declines affected ten of the eleven S&P sectors, particularly impacting mega-cap tech stocks. Despite this, a noticeable shift from high-value tech stocks to sectors likely to benefit from anticipated US rate cuts continued. Investors awaited further earnings reports from major companies like American Express, Travelers, and Comerica. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 1.63% and 0.04%, respectively in the past 24 hours.
Today's top performer is MNT, which surged 11.9% after Mantle celebrated its anniversary with a special NFT mint event and a $17,000 prize pool.
Mantle Network (MNT), launched in July 2023, is a modular Ethereum Layer 2 solution that enhances performance and security. It uses optimistic rollups for off-chain batch processing, improving throughput and reducing costs while maintaining compatibility with Ethereum's existing smart contracts. Mantle is hosting a commemorative NFT mint event to celebrate its one-year anniversary, with a 17,000 $MNT prize pool split among 340 winners. Participants must mint and hold their NFT from Highlight until July 26, with winners announced on August 7. CoM holders receive an extra chance to win and a special Mantle Sigil add-on trait. Note that minting incurs gas and platform fees in $MNT.
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Talk of the Town:
Chainlink has launched the Digital Asset Sandbox (DAS) to help financial institutions explore web3 and digital asset innovation quickly. DAS provides a secure environment for legacy financial firms to launch tokenization pilots and proofs-of-concept, facilitating various use cases like bond tokenization and asset collateralization across multiple chains. This initiative, supported by consultancy services from Chainlink Labs, aims to accelerate the adoption of digital assets by mainstream institutions. The launch reflects Chainlink's strategic focus on real-world asset tokenization, coinciding with broader market trends predicting significant growth in tokenized assets by the end of the decade.
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Spot Bitcoin ETF Flows:
Category | Flow (millions) |
GBTC | (22.5) |
Non-GBTC | 107.3 |
Total | 84.8 |
U.S. spot bitcoin ETFs marked a ninth consecutive day of gains, adding $53.35 million. Leading the growth, Blackrock's IBIT saw inflows of $110.37 million, increasing its total reserves to $21 billion. Conversely, Grayscale’s GBTC experienced outflows of $53.86 million. Overall, the 11 ETFs have accrued a net inflow of $16.59 billion since January, with their current total reserves valued at $58.15 billion, representing 4.57% of BTC's market valuation.
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Airdrop to Watch:
Ether.Fi, the leading liquid restaking protocol by TVL, has initiated the third phase of its campaign with the launch of Season 2 of the ETHFI token airdrop. After the airdrop claims went live, the $ETHFI token briefly rose by 2% but then fell by 4.6%. Currently, the token is down 71% from its launch on March 18. Seasons 1 and 2 combined account for 11% of the total token supply that Ether.fi plans to distribute. Season 3, running from July 1 to September 14, will distribute an additional 2.5% of the token supply and introduce the "Perks Passport" for dual rewards through partner protocols. Ether.Fi’s offerings include liquid vaults and the upcoming Ether.fi Cash feature for Visa card transactions. The protocol has a TVL of $6.65 billion, ranking it fifth in the DeFi sector.
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