As we move towards the end of Q2, a number of projects are moving ahead with continued development, and this week’s choices are set to benefit from significant updates and announcements that should strengthen their market positions and benefit their communities. The news should also result in increased amounts of attention to each respective currency over the coming weeks.
1. Ethereum (ETH)
Ethereum (ETH) is an open-source distributed blockchain that has smart contract functionality, and operates as a decentralized virtual machine which can execute scripts and be used to transfer ether between different nodes. Ethereum retains the status as the principal smart contract provider and platform for hosting ICOs with a number of leading projects operating ERC-20 tokens on the Ethereum network.
Why Ethereum? London Network Upgrade Hits Ropsten Testnet on June 24
The London upgrade is a long-awaited network improvement and will first go live on the Ropsten testnet, at block 10499401, which is estimated to occur on June 24. The upgrade includes EIP-1559 related to fee market changes for ETH 1.0, EIP-3198 concerning the BASEFEE opcodes, EIP-3529 covering a reduction in refunds, EIP-3541 which involves rejecting new contracts starting with the 0xEF byte, and EIP-3554 which adjusts the difficulty bomb delay to December 1st 2021. The upgrades will also go live on the Goerli and Rinkeby testnets before going live on Mainnet and Ethereum node operators, testnet miners and validators can find out more about the upgrades in this official blog post.
2. Binance (BNB)
Binance Coin (BNB) is a token used by the Binance exchange, and it enables customers to enjoy reduced fees when trading via BNB. In addition, it can be used to pay for exchange, withdrawal and listing fees, and for the first year, there was a 50% discount rate on trading fees, which dropped to 25% in the second year, and halves again in each of the subsequent two years.
The exchange’s non fungible token arm, Binance NFT will launch its marketplace on June 24 with a “100 Creators” program. The event will feature content from a wide range of artists and creators from around the world and include submission from Allen Iverson, Atletico Mineiro, Dynamo Kyiv, and the Ugandan National Museum. The marketplace will feature visual art content, and unique digital creation from gaming, music, and sports. Fans of NFTs can visit Binance NFT to stay updated on all the latest developments and find out more about the marketplace launch, and “100 Creators” program here.
3. Celer Network (CELR)
Celer Network is a new coherent technology and economic architecture that brings internet scale to existing and future blockchains through off-chain scaling techniques. It offers the ability to scale out to billions of trust-free, secure, and private off-chain TPS.
The Celer team have announced that they are on track to release the V1 testnet of the Layer Finance DeFi protocol on the Celer Network platform infrastructure. The layer2.finance v0.1 app launched on the Ethereum mainnet in April and allows people to use leading DeFi platforms with significantly lower costs via Celer’s layer-2 rollup technology. Layer Finance currently supports Compound, AAVE and Curve with additional DeFi platforms in the pipeline. You can find out more about how you can use the zero free DeFi application here.
How did the coins perform last week?
The seven day period generally led to negative results across the market; and KSM fell by 29% and is currently trading at around $280. MTL declined by 26% and is currently trading at $1.54, and RGT fell by 15% over the week, and is currently trading at $4.64. Over the course of the week, the market moved from an overall valuation of $1. 64T to $1.51T.