After a week of chill and well-deserved rest, our weekly digest returns with renewed inner energy and, most importantly, with new topics to discuss!
During the week, from Monday to Friday, we actively monitored insider information, announcements, and updates to bring you our perspective on the most interesting topics in the world of cryptocurrencies and blockchain technology. From Binance’s 8th birthday to Tether USDT support limits.
Ready to dive with us? Great! But first, we recommend you to visit our website and learn more about how we can help you with the development and launch of your own blockchain product with our white-label solutions! Fast, easy, and with support on every step!
Tether Ends USDT Support for Legacy Blockchains
This Friday, Tether, the company behind the largest stablecoin USDT, announced it will discontinue support for five legacy blockchains: Omni, BCH-SLP, Kusama, and others.
This strategic infrastructure review aims to focus resources on blockchains with real-world usage, better security, and scalability.
“As the digital asset ecosystem evolves, Tether remains committed to adapting alongside it,” said Paolo Ardoino, CEO of Tether. “Sunsetting support for these legacy chains allows us to focus on platforms that offer greater scalability, developer activity, and community engagement – all key components for driving the next wave of stablecoin adoption.”
So, as we can see, Tether’s move reflects a growing trend toward consolidating operations on high-performance networks.
Ethereum Foundation Confirms Full Shift to ZK Technology
Another big announcement of this week. In a significant development for Ethereum, the Ethereum Foundation officially confirmed its complete transition to zero-knowledge (ZK) proof technology.
The initiative will start with optional zkEVM client software for the main network (L1), which may become mandatory in the future. New clients are expected to use a limited number of validators at first. As trust increases, backed by audits and bounty programs, the gas limit may be increased. This will make evidence verification a standard procedure.
No doubt, this marks a major step forward in Ethereum’s scalability roadmap, with ZK rollups expected to dramatically reduce transaction costs while increasing network speed and privacy.
Binance Celebrates 8 Years with 280M Users
Coming with great news! Global crypto exchange Binance marked its 8th anniversary, reporting a massive user base of 280 million. During its operation, the total trading volume on the platform’s spot and derivatives markets exceeded $125 trillion, according to a press release.
“Eight years ago, we set a goal to make cryptocurrencies the main way to increase financial freedom. Today, 280 million people have made them a part of their lives, and Binance has become their reliable guide,” said Richard Teng, CEO of the exchange.
The milestone demonstrates the exchange’s growing influence in the global crypto economy and its expanding role as a leader in crypto trading, staking, and DeFi solutions.
Pump.fun Reveals Launch Date for PUMP Token
Let’s switch to the tokens and main announcements out there. The biggest one was released on Thursday with the Pump.fun team officially announced the upcoming launch date of the PUMP token.
According to tokenomics, the total issue will amount to 1 trillion PUMP.
During the ICO, the “meme token factory” plans to implement 33% of the offer at a price of $0.004 per coin: 18% will be sold in private rounds to institutional buyers, and 15% in public offerings. The initial offering will take place on the centralized exchanges Bybit, Kraken, Bitget, and MEXC.
For sure, this highly anticipated release is generating buzz among memecoin enthusiasts and decentralized finance users alike. Evercode Lab’s team is confident that it is worth closely monitoring the development of the token on the market after its release!
Polygon (MATIC) Jumps 8% Ahead of Heimdall v2 Upgrade
Ethereum is not the only one announcing its plans for new upgrades. Polygon’s MATIC token surged by 8% following news of the upcoming Heimdall v2 upgrade.
The upgrade is positioned as “the most technically challenging hard fork since the launch of Polygon PoS in 2020.” Heimdall v2 is designed to rid the system of outdated solutions from 2018-2019, reducing the completion to about five seconds.
In simple words, Heimdall v2 is expected to enhance network efficiency and improve validator performance.
So, in the future, Polygon continues to be a key player in Ethereum Layer 2 solutions, offering fast, low-cost, and eco-friendly transactions.
Final Thought
To wrap it up, we can say that this week highlights the evolution of blockchain infrastructure, growing adoption of ZK tech, and strong momentum in the crypto market. From Ethereum’s ZK leap to Tether’s blockchain realignment and Binance’s growth, the space is maturing fast. So, we don’t say goodbye, just stay tuned for next week’s digest!
It’s not just the crypto market that can transform, but your product as well, especially if you have the Evercode Lab helping hand nearby! If you strive to open the new horizons of your service and discover all the possibilities of the crypto market and web3 solutions, just contact our team today!