#Ethereum L2 scaling platforms have truly arrived.

One year ago they existed, but were still somewhat nascent. Now though, they’re big time, says #dunedigest #report.

A lot has changed over the past 12 months. One year ago, there were far more transactions on Ethereum.

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The U.S. regulatory crackdown and banking crisis has also made #USD-denominated crypto transactions a lot harder.

Since March, there is a drop in #dollarmarket share relative to the #euro. #EuroMarket share is now 18%, up from just 9% at the start of the year relative to the USD.

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According to the futures premium for #Ethereum and as reported #cointelegraph, known as the basis indicator, professional traders have been avoiding leveraged longs (bullish bets).

Despite the modest improvement to 2%, the indicator remains far from the neutral 5% threshold.

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#Polygon is leagues ahead of the others #Ethereum assets Layer 2, with 35.2m active wallets over the past week alone, as reported #dunedigest. Source: https://buff.ly/46bRV1m

Interestingly #BTC #Bitcoin liquidity has been one of the hardest hit, falling from 14k BTC within 1% of the mid price at the start of the year to just over 9k today, according to #Kaiko. Source: https://buff.ly/3NdPNxJ

Since its mainnet launch in March 2023, #zkSync Era has experienced tremendous growth, reaching one million transactions in just four days, a rate quicker than any other Layer 2 according to #L2Beat. Read More: https://buff.ly/43LXm5D

#OpenInterest Plummets Following Largest Liquidation Event Since #FTX, according #CCData. #btc #bitcoin #btcusd #btcusdt

Open Interest as well has been one of the major metrics affected by the current turmoil. Read More: https://buff.ly/3Jj9ov2

#Bitcoin #btc #btcusdt #btcusd fell 4.2% on the week, a by product of the regulatory uncertainty that has gripped the industry, even though it is not focused on bitcoin, as reported nydig. Read More: https://buff.ly/46djB63

#Coinbase's stock price rose nearly 6% last week as analysts' average price target slightly increased, per The Block Research. Source: https://buff.ly/3Jm9wKu

Since the start of the year, spread and slippage on #CentralisedExchanges has stabilised, with certain exchanges improving their bid and ask spread and slippage while others maintained their previous records. More: https://buff.ly/46dr7Oz

#Bitcoin’s dominance, its share of total industry market cap, rose both during the drawdown as altcoins fell further and in the early and middle phases of the ensuing bull market cycles. Read More: https://buff.ly/3Xgqvni

As market makers pull orders from order books and begin scaling back their operations, volumes have been suppressed in Q2 and have hit their yearly lows at times, according to #kaiko. #btc Read More: https://buff.ly/43LqnOW

US government owns $5 billion worth of #bitcoin and researcher Sachin Jaitly says that "as money supply was increasing, and as fear of inflation was increasing, bitcoin adoption on a sovereign level was also increasing." But it's complicated.

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#PerpetualContracts, also known as inverse swaps, have an embedded rate that is usually charged every eight hours, according to #Cointelegraph.

A positive funding rate indicates that longs (buyers) demand more leverage. Still, the opposite situation occurs when shorts (sellers) require additional leverage, causing the funding rate to turn negative.

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According to #IntoTheBlock (#ITB) data for #Ethereum, 59.66% of active addresses are in profit, while 38.22% are at a loss.

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#Bitcoin outflows from exchanges have once again started to surpass inflows.

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Artificial Intelligence market could move more than $126 billion until the year 2025.

This article shows the technical analysis of cryptocurrencies #AGIX #OCEAN #FET #NMR, considered the tokens with the highest tradable volume within #Binance.

Read More And Earn Crypto For Free: https://buff.ly/445Etuh

From: rubikkav.nft

Excessive buying demand tends to pressure the indicator above fair value at 100%, and during bearish markets, #Tether’s market offer is flooded, causing a 2% or higher discount this week and as described #cointelegraph.

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#NFT lending platform #Blend has outperformed competitors, doing $365M in volume in May alone.

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Last week was packed with #economic activity and #crypto-specific developments around regulation.

On Tuesday we had a #CPI reading that came in at 4% (YoY), which is better than the previous month’s reading of 4.9% (YoY), according to #amberdata.

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Long-term #crypto #volatility remains at multi-year lows, according #kaiko.

#BTC and #ETH's 90D volatility is at multi-year lows, closely matching the trend in trade volume. .

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