Pendle Boosts BTCFi Presence with New Bitcoin Yield Pools
By Shikha Singh
Pendle Boosts BTCFi Presence with New Bitcoin Yield Pools in Preparation for V3 Upgrade.
Pendle has launched its Bitcoin Arc program, offering consistent and leveraged BTC yield options, enhancing its position in DeFi with a TVL of $2.63 billion. An upcoming V3 update will further boost liquidity and scalability.
Stablecoin Payments in Singapore Hit $1 Billion in Q2.
Stablecoin payments in Singapore surged to nearly $1 billion in Q2, driven by merchant transactions, up from $161 million in 2023. StraitsX, praised for balancing innovation and regulation, highlights the efficiency and low cost of stablecoin transactions.
Coinbase Launches cbBTC.
Coinbase introduced cbBTC, an ERC20 token backed 1:1 by Bitcoin, to enhance Bitcoin’s DeFi use on Ethereum and Base. Despite centralization concerns similar to WBTC, cbBTC aims to simplify on-chain Bitcoin applications like liquidity provision and collateralization.
Bitcoin Mining Difficulty Rises To Peak Levels.
Bitcoin mining difficulty increased by 3.6% to 92.67 trillion, with the hash rate stabilizing at 670 EH/s, leading to tighter profit margins for miners. As competition rose, mining income dropped from $29.12 million to $19.60 million in just four days, prompting the sale of 30,000 BTC worth $1.71 billion, though Bitcoin’s price held steady at $57,990.25.
Ark Invest Buys $8.4 mn Worth of Coinbase Shares Amid Post-Debate Dip.
Ark Invest, led by Cathie Wood, snapped up 53,708 Coinbase shares worth $8.4 million across three ETFs following a market dip linked to the Trump-Harris debate. This is Ark’s first Coinbase purchase since August, with COIN shares rebounding to $157.15 amidst fluctuating crypto prices.
Greece Plans New $330 mn Data Center To Accelerate AI Growth.
Greece’s AI capabilities are set to improve with Data4’s €300 million data center near Athens, aimed at supporting AI technologies despite Europe’s high energy costs. The initiative aligns with Greece’s new AI advisory council, though companies like Meta and Apple express concerns over EU regulations affecting their products.
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