Network Financial News

Token Terminal’s data revealed that Binance Coin’s [BNB] fees and revenue have been on a constant uptrend over the last few weeks. The credit for this can go to the average daily transactions conducted on the network. 

PancakeSwap [CAKE] has been setting up its game in terms of network performance over the last few months. Dune’s data revealed that the total number of transactions on PancakeSwap has been on an uptrend since the beginning of this year, after a disappointing Q4 2022. This increase represents increased adoption and usage of the network.

Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets' payment network, claiming the termination is a "risk-based decision". The move comes after the bank's stock fell over 59% in the past five days due to fears of a potential bankruptcy. 

TBD, a division of Block (formerly Square) led by CEO Jack Dorsey, launched a new venture named c= (pronounced c equals) to improve the Bitcoin Lightning Network through tools and services.

Silvergate Capital Corp has announced that it will suspend the Silvergate Exchange Network (SEN), its crypto payments network.

Despite the recent spotlight on Bitcoin, Lightning Network, its Layer 2 alternative, is progressing. Taking a look at a few of its most important measures reveals its tremendous development and future potential.

This time, the counterparty is Silvergate Capital Corp., the bank behind a widely used payments network that facilitates the real-time transfer of money between crypto firms. Silvergate suffered from a run on deposits already last year, triggered by the bankruptcy of its key client FTX. On Wednesday, the bank said it sold more debt holdings at a loss and was reviewing whether it can remain viable. It also indicated it was being investigated by the US Justice Department. That warning prompted swift reactions by crypto exchanges, stablecoin issuers and trading desks. Coinbase Global Inc., Galaxy Digital and Paxos Trust Co. announced that they will no longer accept or initiate payments through Silvergate, as did Gemini Trust Co., Crypto.com and Cboe Clear Digital LLC.

The Ethereum community appears to have a bullish view of Coinbase's newly announced layer-2 network, Base, which has been described as a «massive confidence vote» and a «watershed moment» for the blockchain network. This has been described as a «massive confidence vote» and a «watershed moment» for the blockchain network.

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today's crypto news.__________

Xapo Bank, an international private bank headquartered in Gibraltar, integrates the Lightning Network to improve its Bitcoin (BTC) capabilities.

After an update to the validator software on February 25, the Solana network saw a decrease in the rate at which blocks were produced. Transactions were disrupted as a consequence of the event, which prompted validators to downgrade the software in an effort to restore network speed.

Sui Network, on 28 February, announced that it had taken a further step towards its Mainnet launch. This announcement came after the Layer one (L1) project passed its Wave 2 Testnet stage. 

Gains Network [GNS], a prominent DEX on the Arbitrum protocol, captured massive amounts of forex demand on 27 February. This helped the protocol have a large majority in terms of Open Interest.

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Solana [SOL] suffered a major network outage over the weekend that saw network communications and transactions paused for 20 hours. This was the latest in a series of outages that the Solana network has suffered over the past few months, leading to several theories about this recurring issue.

Polygon [MATIC] has been trying to stir up hype around its new zkEVM solution that will launch on 27 March. In a 26 February tweet, the co-founder of Polygon, Sandeep Nailwal, spoke about the features of the mainnet. However, some users were unhappy with the post.

Anatoly Yakovenko, the founder and CEO of Solana Labs has downplayed claims that Solana's network outages were being caused by a high volume of validator messages and its on-chain voting system clogging its consensus layer.

The cryptocurrency exchange Coinbase made the announcement about the launch of Base, an Ethereum layer-2 network, on February 23. The business has said that the newly launched network would provide a low-cost, secure, and user-friendly environment for the development of decentralized applications (DApps) on the blockchain.

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Solana network faced a slowdown in block production on Fev. 25 following the upgrade in the validator software. The incident resulted in disruptions to transactions and led validators to downgrade the software in an attempt to restore network performance. 

The optimism price has shot up by 11% in the past 24 hours, boosted by the news that Coinbase will be launching its own layer-two network for Ethereum using Optimism-based technology. At $3.14, it has risen by 20% in a week and by 58% in the last 30 days, with growing usage of the Optimism network itself also helping to support gains.