Major Events and Developments in the Web3, Blockchain, and Crypto Ecosystem

This analysis report provides an in-depth look at the latest developments in the Web3, Blockchain, and Crypto sectors. Top headlines include Voyager Digital recovering $484.35 million in settlement amid bankruptcy proceedings, MarginFi founder's resignation causing a $120 million TVL plunge, and the SEC issuing a Wells Notice against Uniswap Labs in a DeFi crackdown. The report also examines blockchain performance, crypto market analysis, Bitcoin ETF analysis, DeFi market status, NFT marketplace trends, Web3 funding analysis, and a weekly blockchain hack analysis, offering valuable insights into the current state of the industry and emerging trends.

Web3, Blockchain, and Crypto Weekly Report

Breaking News

• Voyager Digital Recovers $484.35M in Settlement: Voyager Digital announces successful recovery efforts, securing funds via settlements with FTX, Three Arrows Capital, and insurance, aiding creditor reimbursement amidst financial turmoil.
• **MarginFi Founder Resigns, Causing $120M TVL Plunge:** Edgar Pavlovsky's sudden departure triggers investor withdrawals, leading to a drastic $120 million decline in MarginFi's Total Value Locked (TVL) following internal disputes.
• SEC Issues Wells Notice Against Uniswap Labs in DeFi Crackdown: The US SEC targets Uniswap Labs, issuer of the largest decentralized exchange, with a Wells Notice as part of its intensified scrutiny of the decentralized finance (DeFi) sector.
• Circle's USDC Now Supported on zkSync, Expanding Accessibility: Circle integrates native USDC on zkSync, a prominent layer 2 rollup solution, facilitating enhanced accessibility for developers and users without the need for bridging, extending USDC's reach to 16 blockchain networks.
• Wilder World Partners With Samsung to Expand Virtual Metaverse: Samsung collaborates with Wilder World to introduce the multiplayer virtual world to millions of households through smart TVs, leveraging its extensive distribution network to widen the metaverse's audience reach.
• Chinese Authorities Investigate Filecoin-Based STFIL Protocol Team: The core technical term behind the Filecoin-based STFIL protocol faces investigation by Chinese authorities amid suspicious updates and fund transfers, raising concerns over the protocol's integrity and compliance.
• Circle Extends Support for Web3 Services on Solana Blockchain: Circle announces support for Web3 services on Solana's Layer 1 blockchain network, emphasizing the growing importance of stablecoins like USDC in fostering a more inclusive financial ecosystem.
• Polkadot Community Selects IndyCar Star Conor Daly as Ambassador: In a historic move, the Polkadot community votes to sponsor IndyCar racing star Conor Daly as brand ambassador for the prestigious Indianpolis 500, making the first athlete selected via blockchain for a sponsorship deal.
• Chinese Equity Funds Seek Approval for Spot Bitcoin ETFs in Hong Kong: Chinese mainland-based equity funds apply to introduce spot Bitcoin exchange-traded funds (ETFs) through Hong Kong subsidiaries, capitalizing on the region's effort to establish itself as a global fintech hub amid crypto market surge.
• dYdX Community Votes to Stake 20 Million DYDX Tokens for Security: dYdX community approves a proposal to stake 20 million DYDX tokens, bolstering security measures for its decentralized crypto exchange, amidst heightened trading activity, aiming to protect against potential security threats.
• Former OneCoin Officer Sentenced to Four Years in Prison: Irina Dikinska, former legal and compliance officer of OneCoin, receives a four-year prison sentence for her role in the extensive OneCoin fraud scheme, serving as a significant development in the legal pursuit against cryptocurrency fraud.
• Google Files Lawsuit Against Developers for Fraudulent Crypto Apps: Google initiates legal action against developers for uploading nearly 90 fraudulent crypto investment applications on its Play Store, impacting round 100,000 users, highlighting ongoing efforts to combat scams within the digital asset space.

Blockchain Performance

Top Blockchain Performers by 7-Day Change

Linea experienced the highest 7-day change at +51.0%, indicating significant growth. Following closely, Chiliz surged by +31.4%, while Base and Blast showed notable increases of +24.3% and +23.9%, respectively. opBNB exhibited a comparatively lower but still considerable rise at +17.9%.

Top Performers: 7-Day Change in Top 5 Blockchains with Highest TVL

Among the top five blockchains, Ethereum showed a modest increase of +1.1% in 7-day change, while others experienced declines. Arbitrum One witnessed the most significant decrease at -18.1%, followed by Solana (-8.3%), BNB Smart Chain (-2.5%), and Tron (-1.2%).

Crypto Market Analysis

Crypto 7-D Price Change and Dominance Analysis

Among the top cryptocurrencies, BNB exhibited the highest 7-day change at +10.1%, followed by Ethereum at +7.9% and Bitcoin at +6.0%. However, Solana remained nearly unchanged at -0.6%, while Tether showed zero change.

Top Gainers & Losers of the Week in Crypto Market

Top Gainers of the Week in Crypto

In the past week, Nervos Network demonstrated the highest gain in the cryptocurrency market, soaring by +79.16%. Athena followed with a significant increase of +57.80%, while NEO, Toncoin, and JasmyCoin also experienced notable gains of +47.11%, +39.27%, and +27.26%, respectively.

Top Losers of the Week in Crypto

In the past week, Wormhole experienced the highest loss among cryptocurrencies, declining by -17.95%. Uniswap followed closely with a loss of -14.98%, while Maker, Bitcoin Cash, and Core also saw decreases of -13.44%, -12.48%, and -9.06%, respectively.

Stablecoin Weekly Analysis