Aave Set to Launch Its Own Blockchain 'Aave Network' Following V4 Upgrade

Daily Top Performer — Peng (PENG)

The SPX index is up by 0.02%, market sectors varied, with technology, energy, and communication services performing well, contrasting with weaker performances in industrials, healthcare, and financials. Investors are also keeping a close eye on potential interest rate changes, influenced by ongoing inflation concerns. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 1.22% and 1.52%, respectively in the past 24 hours.

Today’s outperformer is PENG, which jumped 52.7% following Bybit’s Launches PENGUSDT Perpetual Contract with Up to 12.5x Leverage.

Peng (PENG), launched in November 2023, is a meme token on the Solana blockchain, combining elements of meme culture and blockchain technology. It draws inspiration from penguins and Pepe the Frog, appealing to both crypto enthusiasts and meme lovers. Peng aims to create a fun, community-driven environment in the cryptocurrency landscape. The PENGUSDT Perpetual Contract is now available for trading on Bybit, offering up to 12.5x leverage. It can be accessed via the Bybit Trading Bot - Futures Grid.

Check Out the Latest Prices, Charts, and Data of PENGUSDT Perp!

Talk of the Town:

Aave, the leading DeFi lending platform, plans to launch its own blockchain, the Aave Network, following its upcoming V4 upgrade. This new blockchain, hinted by CEO Stani Kulechov, aims to capitalize on Aave's substantial $13 billion in total value locked (TVL), potentially making it one of the largest Layer 2 solutions in DeFi. The V4 update, unveiled on May 1, features a unified cross-chain liquidity layer and liquidity premiums. The Aave Network is expected to be secured by Ethereum and serve as a hub for the Aave Protocol and its native stablecoin, GHO. The community has responded positively to the news, with significant anticipation for its launch slated for next year.

Check Out the Latest Prices, Charts, and Data of AAVEUSDT Perp and AAVE/USDT Spot!

Spot Bitcoin ETF Flows:

Bitcoin (BTC) dropped 1.50% to $68,327 amid fluctuating market conditions influenced by rising US consumer confidence and hawkish Fed comments. However, political shifts favoring cryptocurrencies could offset negative sentiments. US BTC-spot ETFs have seen significant inflows, though recent sessions showed a pullback. Market analysts are closely monitoring ETF trends and political developments that could impact the crypto landscape.

Check Out the Latest Prices, Charts, and Data of BTCUSDT Perp and BTC/USDT Spot!

Airdrop to Watch:

Since its Pacific-1 Mainnet launch, Sei has attracted over 100,000 active participants, especially in NFT transactions, culminating in the development of Sei v2, a high-performance, parallelized EVM blockchain. The Sei Foundation's second airdrop will distribute 27,421,200 SEI tokens to 43,052 addresses, rewarding users for active participation and engagement. Eligibility can be verified on the Sei airdrop portal, with tokens automatically distributed at the start of Sei v2's "Phase 3". The airdrop focuses on users who have staked and collected significant NFTs, excluding high-volume holders to maintain fairness. Further community involvement and developments are anticipated as the ecosystem continues to expand.

Check Out the Latest Prices, Charts, and Data of SEIUSDT Perp and SEI/USDT Spot!