ZKsync Unveils Elastic Chain as a Unified Ecosystem of Interconnected Layer 2 Rollups Post-3.0 Upgrade
Daily Top Performer — Chromia (CHR)
The SPX index was up by 0.62%, propelled by major tech companies like Apple, Amazon, and Alphabet. The broader cryptocurrency market was down, with Bitcoin and Ether dropping by 2.26% and 1.40%, respectively, in the past 24 hours as the dampened rate cut hope rattled the market.
Today's top performer is CHR, which surged 7.8% following announcement of Chromia MVP Mainnet launch.
Chromia (CHR), launched in May 2019, is a blockchain platform that merges relational databases with blockchain to enhance dApp development, offering a mix of efficiency, security, and flexibility. Chromia's MVP Mainnet will launch on July 16th, 2024, featuring core functionalities like native CHR tokens and CHR bridging from Ethereum, along with user-friendly asset transfer interfaces in Chromia Vault. The launch will also introduce native staking and delegation, support for FT4 accounts and tokens, and Dapp container deployment capabilities. Essential features like cross-chain transfers and system anchoring will be active from the start. This launch marks the beginning of Chromia's expanding ecosystem, with future enhancements and new products planned for later in the year.
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Talk of the Town:
ZKsync has introduced its vision for an "Elastic Chain," a unified ecosystem of interconnected Layer 2 rollups, following its 3.0 upgrade. This upgrade transforms ZKsync's single Ethereum Layer 2 into a multi-chain platform using its ZK Stack technology, enhancing interoperability and reducing liquidity fragmentation. The Elastic Chain aims to integrate autonomous chains at the protocol level, improving capital efficiency and user experience by allowing seamless asset transfers across chains. This ecosystem supports advanced features like account abstraction, enabling easier user onboarding without traditional seed phrases. The announcement follows a significant airdrop and a subsequent pullback in the market value of the ZK token.
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Bitcoin Spot ETF Flows:
Category | Flow (millions) |
GBTC | (32.4) |
Non-GBTC | 4.6 |
Total | (27.8) |
Bitcoin Spot ETFs have seen renewed investor interest, attracting $270 million over five consecutive days. This positive trend in inflows coincides with a stabilization in bitcoin prices and slowing inflation. The Fidelity Wise Origin Bitcoin Fund and the Bitwise Bitcoin ETF led these inflows, despite recent periods of net outflows. Overall, the year's inflows remain robust at $14.7 billion, though daily trading volumes are declining. Meanwhile, bitcoin's price has stabilized near $62,000 after a recent dip.
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Airdrop to Watch:
HashKey, an Asia-based crypto firm, has initiated an airdrop of its HSK token through a Telegram-based tap-to-earn game. Users can earn tokens by completing tasks within the DejenDog Telegram bot, with enhanced rewards for referrals and other activities. The HSK token, an ERC-20 with a supply of one billion, will list in Q3 2024. About 65% of these tokens are designated for network growth. Additionally, 20% of HashKey's business profits will fund a token burn mechanism to reduce supply. HashKey Global, where HSK tokens can be used, is Hong Kong's largest licensed virtual asset exchange. Recently, HashKey Group secured nearly $100 million in Series A financing, reflecting its significant market growth.