This Week in Blockchain: Injective Proposes INJ 3.0, Tether Acquires $705M in Bitcoin, Binance Launches Solv Protocol

This week, major players in the blockchain and DeFi space unveiled strategic moves aimed at strengthening their ecosystems.

Major players in the blockchain and DeFi space made strategic moves this week to strengthen their ecosystems.

Here are 5 key developments:

1. Injective Introduces INJ 3.0 Proposal for Deflationary Tokenomics

Injective, a blockchain for DeFi applications, has introduced a governance proposal to launch INJ 3.0, aiming to establish $INJ as a top deflationary asset in the crypto market.

2. Tether Boosts Bitcoin Reserves with $705 Million Acquisition

Tether, the issuer of USDT, has purchased 7,629 BTC ($705 million), increasing its Bitcoin holdings to $7.7 billion. This move aligns with Tether's strategy of diversifying its reserves.

3. Binance Launches Solv Protocol for Bitcoin Staking

Binance has introduced Solv Protocol, a Bitcoin staking platform, as part of its Megadrop program. The protocol integrates Binance Wallet and Simple Earn for easy staking.

4. Hyperliquid Rolls Out $HYPE Staking on Mainnet

Hyperliquid has introduced $HYPE staking on its mainnet, enabling token holders to earn rewards and contribute to the network's growth. Participants can stake $HYPE tokens.

5. OKX Ventures Invests in Haedal to Enhance Sui’s DeFi Ecosystem

OKX Ventures has participated in the seed investment round for Haedal, Sui's native liquid staking protocol. This partnership aims to strengthen Sui’s DeFi landscape.