By Shikha Singh
ENS Picks Linea to Develop ‘Namechain’ Layer 2 Network.
Ethereum Name Service (ENS) will use Linea’s software stack to develop its own Layer 2 network called Namechain. This network will utilize Linea’s Type 2 zkEVM technology, ensuring compatibility with Ethereum’s existing smart contracts and tools.
Ethereum’s Consensys supports Linea, which has developed a decentralized cross-chain name resolution system for subnames using ERC-3668.
This move is part of the “ENSv2” upgrade, which shifts .eth domain registrations and renewals to the more scalable and affordable Layer 2 while keeping name resolution on Ethereum Layer 1. The Layer 2 implementation will also improve transaction throughput.
Fartcoin Briefly Taps $1 bn Market Cap Despite Altcoin Bloodbath.
Fartcoin, a Solana-based memecoin with no inherent utility, experienced a dramatic 113% price surge over the past 30 days, briefly surpassing a $1 billion market cap on December 18.
This outlier rally occurred despite the broader altcoin market suffering losses following the U.S. Federal Reserve’s 25-basis-point rate cut and a more hawkish outlook for 2025.
Between 8:20 pm & 9:00 pm UTC on December 18, Fartcoin’s price spiked 21% to $1.02, pushing its market cap to $1 billion before quickly retracing 16% to $0.83, with a market cap of $838 million.
Kraken Ink Layer-2 Goes Live On Ethereum Mainnet.
Kraken has launched its Layer-2 blockchain network, Ink, on the Ethereum mainnet ahead of schedule. Built using Optimism’s OP Stack, Ink aims to improve scalability and interoperability within Ethereum.
Kraken secured a 25 million OP token grant, which is around $58 million from the Optimism Foundation to support Ink’s growth.
The network has launched with partnerships from decentralized apps like Curve, Frax, LayerZero, and Gelato. By January 2025, Kraken plans to introduce permissionless fault proofs to enhance transaction accountability.
Ink joins other OP Stack-based networks, such as Coinbase’s Base and Sony’s Soneium, as part of Ethereum’s scaling solutions.
HBAR Price Eyes Rally To ATH As EQTY Lab Unveils AI Verification Tool On Hedera.
The Hedera ecosystem is gaining momentum with the launch of Verifiable Compute, a new AI verification solution developed by EQTY Lab in collaboration with Intel and NVIDIA.
By cryptographically verifying AI computations and anchoring them on the Hedera network, this hardware-based framework makes sure that AI workflows are safe and can be checked.
The solution supports industries like finance and healthcare and aligns with global AI regulations. Hedera’s decentralized infrastructure provides scalability, transparency, and security for AI governance.
This development has led to bullish sentiment around Hedera’s native token, HBAR, with analysts predicting a potential rally to new all-time highs.
HBAR’s price is currently showing bullish momentum, with key resistance levels near $0.31 and long-term targets above $1.
Fantom’s Sonic Protocol Goes Live on Mainnet.
Fantom, now rebranded as Sonic Labs, has launched the Sonic Protocol on the mainnet, a high-throughput, EVM-compatible Layer-1 blockchain platform.
It offers features like 10,000 transactions per second, sub-second finality, and a decentralized gateway to Ethereum, aimed at attracting developers to build Decentralized Applications (DApps).
Despite the promising launch, Fantom’s price has fallen, trading at $1.23, down 8.47% in 24 hours.
Michael Egorov Dismisses Curve DAO Liquidation Claim, CRV Dips 13%.
On December 19, the Curve DAO Token (CRV) experienced a 12% price drop, which led to the liquidation of founder Michael Egorov’s position, resulting in a loss of 918K CRV tokens worth $882K.
This followed Egorov’s buyback of 1.08 million tokens for $1.2 million just days earlier.
The price decline triggered the liquidation, highlighting the risks of leverage in volatile markets.
CRV’s price fell further by 13%, trading at $0.93, reflecting ongoing bearish sentiment and market instability.
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