Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Babylon
Babylon Launches Bitcoin Staking in Mainnet, Sparking Airdrop Speculations
Babylon has unveiled a Bitcoin staking program, establishing a new precedent in the crypto sector. This strategy allows users to stake Bitcoin while retaining custody, offering a transformative way to utilize a $1.2 trillion asset without surrendering control. That being said, some speculate that Babylon is akin to EigenLayer for Bitcoin. Babylon Bitcoin Staking Max Limit Hit The initial phase of the staking process involves submitting transactions to the Bitcoin blockchain. These transactions activate a self-custodial staking script that locks…
10 months ago
Babylon X bitSmiley: Transforming BTC Liquidity in the Blockchain Space
I In the evolving blockchain landscape, Babylon and bitSmiley are set to onboard Bitcoin into the Proof-of-Stake world and other blockchain economies. As Native BTC staked on Babylon increases, the potential of BTC LST assets is enormous yet underutilized. Enter bitSmiley, the key to unlocking this potential. Introducing first BTC-backed stablecoin with yield When a user deposits BTC into the bitSmiley protocol, the deposit details are sent to our MultiSig Wallet via an inscription. Concurrently, we stake the user’s BTC…
10 months ago
Lorenzo Protocol Announces Strategic Integration with Babylon to Revolutionize Bitcoin’s Application Layer
The integration will be instrumental in advancing Lorenzo Protocol’s Bitcoin Liquid Restaking product and supports the company’s vision for a future where the full potential of Bitcoin is realized, empowering both users and developers to forge the future of finance. (New York, NY) – At a time when development on Bitcoin reaches new heights, Lorenzo Protocol stands at the forefront of reshaping the Bitcoin infrastructure and DeFi landscape. Lorenzo Protocol is building the first-ever Bitcoin liquid restaking protocol to share…
1 year ago
NFT and Traditional Artists Descend on New York for Babylon Art Exhibition
Babylon x NYC, an exhibition of more than 100 physical and digital artworks, will take place in New York City on April 12-13, 2023. The exhibition, set up by Babylon — a Web3 gallery specializing in primary sales of NFT editions — will showcase works by the project’s 30 Founding Artists, well-known for their impact on the NFT art space. Also featuring, as highlights exclusive to the exhibition, are works by prominent Armenian artist Tigran Tsitoghdzyan, whose debut drop on…
2 years ago