DeFi & L1L2 Weekly — 📢 Crypto.com launched a new prediction market platform OG; ETH held on crypto exchanges dropped over the last 6 months
Crypto.com launched a new prediction market platform OG. ETH on exchanges dropped 6 months. Hyperliquid proposed outcome-based prediction market trading.
Key Takeaways
- Crypto.com launched OG, a new prediction market platform offering CFTC-regulated sports and event contracts, with rewards for early sign-ups.
- Hyperliquid unveiled HIP-4, a proposal introducing outcome-based trading for prediction markets and options-style derivatives.
- MetaMask partnered with Ondo Finance to allow eligible users to trade tokenised US stocks and ETFs directly within the wallet.
- Optimism governance approved a plan to allocate 50% of Superchain revenue towards OP token buybacks, to better align the token’s value with ecosystem growth. Additionally, Optimism introduced OP Enterprise, a managed infrastructure service designed to help companies deploy and maintain customised blockchains within the Superchain.
- MegaETH, a high-performance Layer-2 (L2) on Ethereum, is scheduled to go live on 9 February.
- Key Ethereum members, including Ethereum co-founder Vitalik Buterin, repurposed US$220 million in unclaimed ETH from the 2016 DAO hack to establish a new fund dedicated to bolstering ecosystem security.
- Vitalik Buterin stated that Ethereum’s original 'rollup-centric' roadmap no longer makes sense, and that scaling should happen directly on Layer-1 (L1) or through more trustless, integrated methods.
- Fidelity Investments is set to launch the Fidelity Digital Dollar (FIDD) stablecoin on the Ethereum network.
Weekly DeFi Index
We updated the tokens in our DeFi index. This week, the price index decreased by -6.58%, while the volume and volatility indices increased by +76.04% and +115.30%, respectively.
- Hyperliquid unveiled HIP-4, a proposal introducing outcome-based trading for prediction markets and options-style derivatives. Outcomes are fully collateralised contracts that settle at fixed prices within specified ranges, enabling dated markets and non-linear payoffs. Unlike traditional leveraged derivatives, outcomes don't require margin trading or risk liquidations.
Chart of the Week
The amount of ETH held on crypto exchanges declined over the last six months — dropping from 20 million in July to 16.3 million — as more holders opt to stake during the ETH price consolidation. Data shows that over 4 million ETH are currently waiting in the validator entry queue, which is forecasted to take around 70 days to process. Notably, BitMine staked approximately 2.5 million ETH, representing 61% of its holdings. Total staked ETH now exceeds 36.6 million, accounting for 30% of the total supply.
News Highlights
- Crypto.com launched OG, a new prediction market platform offering CFTC-regulated sports and event contracts, with rewards for early sign-ups.
- Non-custodial wallet software MetaMask partnered with Ondo Finance to allow eligible users to trade tokenised US stocks and ETFs directly within the wallet.
- Optimism governance approved a plan to allocate 50% of Superchain revenue towards OP token buybacks, to better align the token’s value with ecosystem growth. Additionally, Optimism introduced OP Enterprise, a managed infrastructure service designed to help companies deploy and maintain customised blockchains within the Superchain.
- MegaETH, a high-performance L2 on Ethereum, is scheduled to go live on 9 February.
- Key Ethereum members, including Ethereum co-founder Vitalik Buterin, repurposed $220 million in unclaimed ETH from the 2016 DAO hack to establish a new fund dedicated to bolstering ecosystem security.
- Vitalik Buterin stated that Ethereum’s original 'rollup-centric' roadmap no longer makes sense, and that scaling should happen directly on L1 or through more trustless, integrated methods.
- Fidelity Investments, through its crypto-focused subsidiary Fidelity Digital Assets, is set to launch the Fidelity Digital Dollar (FIDD) stablecoin on the Ethereum network. FIDD will be fully backed by US dollars and high-quality cash equivalents, and available to retail and institutional investors.
Recent Research Reports
This report dynamically updated the parameters in our methodology to estimate the global cryptocurrency owners and the adoption trend in 2025. | This report provides an overview of market updates in December, new developments, and our latest market outlook. | Crypto and Fixed Income decreased in December, while Equities and Real Assets were mixed. BTC’s 1-month performance correlation was negative with Fixed Income, but mixed across Equities and Real Assets. |
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