SharpLink Gaming made headlines after acquiring over 176,000 ETH, a major move in the crypto space, for $463 million. With this move, the company now ranks just behind the Ethereum Foundation in ETH holdings. Most of its crypto assets have gone into staking and locking value while supporting network operations.
Scheduled to be launched this week in London, World, a project for biometric ID purposes, will mark the beginning of its activities. An Orb device scans human irises as their bearer’s identity confirmation measure, and it is against fake AI representations and deepfakes. The team intends to develop services across the biggest UK cities subsequently.
Polygon recently unveiled a high-impact development plan, “Gigagas.” The team is looking to break the 100,000 transactions per second barrier. They predict to exceed 1,000 TPS by July and keep scaling by the end of the year through new features such as cross-chain liquidity and faster finality.
Crypto platforms upgrade amid challenges
Cardano yesterday launched Cardinal as their first DeFi protocol for Bitcoin. The protocol allows those who hold Bitcoin to stake and lend through the Cardano chain using a non-custodial technology. Therefore, it supports many networks, hence making it possible for Bitcoin to be used across several chains.
WLFI, a Trump-affiliated crypto project, recently integrated more tools into its website. Users will soon be able to utilize these functions, including swap/bridge/lending. Most features remain unavailable but show what the project will be in its DeFi footprint growth system.
This new division, named Safe Labs, was the offspring of that move. In the wake of a security breach linked to Bybit earlier this year. The new group will concentrate on primary development and more grounded defenses for both retail and institutional client bases.
The full closure of the old OS1 by OpenSea will be on June 16th. It will be superseded by OS2, in turn, and features such as auctions and shopping carts will be dropped. Users have expressed concerns, particularly regarding obliterating the Deals function, which was responsible for fraud prevention.
ETH staking grows, governance Falters
According to the data provided by Ether. Fi, its staking volume increased by 30% within six months, contrasting with a 9% decline observed at Lido. So far, this seems to be true, as the ETH staking race is getting hotter and hotter with the new players as they eat into the old protocol’s market share.
On the governance front, Optimism voiced disquiet. Just 18 addresses control over half the voting power. admittedly virtually all votes are from participants that have very little real influence and are represented by thousands of users. this increases a red flag on who makes decisions in the decentralized environment.
To wrap it up, Solsniper will shut down its NFT marketplace on the 13th of June. The platform was having a tough time making a profit. Users will be refunded, and leaderboards will also be kept for any future potential projects that might eventually materialize. This event is in line with the general trend of decline in the NFT sector as far as market interest is concerned.
