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The SPX index was down 1.37% as January’s CPI surprised to the upside and the market trimmed their rate cut expectation. The broader cryptocurrency market was mixed, with Bitcoin dropping by 1.53% and Ether rising by 0.07% , in the past 24 hours.
Today’s outperformer is CKB, which jumped 51.7% after Nervos Network Unveils RGB++ for Enhanced Bitcoin Scalability.
Nervos Network (CKB), launched on November 2019, is a blockchain network featuring the Common Knowledge Base (CKB) for Layer 1 security and flexibility, utilizing Proof-of-Work consensus. It supports interoperability with various blockchain layers and allows developers to build decentralized applications with account abstraction at the protocol level. RGB++ Protocol enhances the Bitcoin ecosystem by improving the RGB protocol with advanced validation and state management techniques. It connects Bitcoin UTXOs and Nervos CKB Cells, ensuring secure transactions and ownership verification without requiring cross-chain transactions. RGB++ addresses prior challenges, enabling new blockchain functionalities like transaction folding and ownerless contracts, enhancing security and efficiency.
Check Out the Latest Prices, Charts, and Data of CKBUSDT Perp!
The TVL on Starknet has reached a new peak of $56 million, coinciding with heightened activity and anticipation of the upcoming STRK token airdrop by The Starknet Foundation, which plans to distribute 1.8 billion tokens. Starknet, an Ethereum layer 2 solution, provides low-cost transactions using zero-knowledge proofs, with costs significantly lower than Ethereum's main layer. Notable Starknet-based dApps contributing to this surge include Nostra with $16.7 million in assets and Ekubo, generating $15.5 million in daily volume. While the exact details and date of the airdrop remain unclear, the Starknet Foundation has indicated that past activities will determine eligibility, and no current actions can influence this. The trend of airdrops continues to drive the crypto market in 2024, with Starkware's STRK token potentially being the next significant airdrop event, as confirmed by Argent Labs and the Starknet Foundation.
Wormhole, a cross-chain messaging protocol, has surpassed 1 billion messages and facilitated nearly $40 billion in cross-chain transfers since launching in September 2021. Processing about 110,640 messages daily across 30 blockchains, it has reached a $1 billion total value locked (TVL) with significant transactions between Polygon and Celo, and Solana to Polygon. The protocol supports a wide range of applications, including Pyth Network, Uniswap, and Circle. Wormhole plans to airdrop 17% of its 10 billion tokens to its community, moving towards token-based governance. Recently, it announced a $225 million funding round, valuing the company at $2.5 billion, with notable investors like Brevan Howard and Coinbase Ventures.