BRC-20 transactions have been surging since March. The BRC-20 token standard is an experimental fungible token standard for the Bitcoin blockchain. It enables developers to create and transfer fungible tokens using the Ordinals protocol. As of writing, 18,250 tokens have been minted using the BRC-20 standard – like ORDI, the first BRC-20 token.
A new blockchain called Canton Network is being developed by a group of participants in the finance and tech space, including Microsoft, Goldman Sachs, Cboe Global Markets, Deloitte, and BNP Paribas. The network will be used by financial institutions and testing begins in July.
Research Roundup Newsletter [April 2023]: In this issue we feature trending market insights, and our latest research reports take a closer look into Bitcoin’s expanding ecosystem specifically Layer 2s, DeFi, and NFTs.
Bitcoin’s Expanding Ecosystem: Layer-2, DeFi, NFT: The landscape of the latest projects building on top of Bitcoin is expanding beyond payments and includes Layer-2 scaling solutions and key application categories like DeFi and NFT.
Liquid Staking Derivatives: Money Legos in DeFi: Liquid staking is now the second largest sector in crypto after DEXes, replacing DeFi lending. Today the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape.
Alpha Navigator: Quest for Alpha [April 2023]: Asset classes were generally flat in April, with crypto outperforming. US Federal Reserve could be on the cusp of ending rate hike cycle.
Overview of Decentralised Derivatives: Crypto derivatives dominate the market today, representing about 70% of the entire crypto market. In this report, we shed light on derivatives in DeFi, their market overview, and some innovations in the space.
Catalyst Calendar
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US inflation indicator CPI rose 4.9% YoY in April. Microsoft, Goldman Sachs, and more are developing a blockchain called Canton. A new survey found that 26% of family offices are invested in crypto.
