IOTX Surges After Receiving the Ethereum Account Abstraction ERC-4337 Grant; dYdX Migrates to Cosmos to Launch Purely Decentralized Order Book

Daily Top Performer — IoTeX (IOTX)

The SPX index is down 0.70%, factors contributing to the decline included weaker-than-expected Eurozone economic news, rising bond yields, and the U.S. trade deficit widening less than expected. The broader cryptocurrency market is down, with Bitcoin and Ether dropping 0.09% and 0.08% respectively, in the past 24 hours. 

Today’s outperformer is IOTX, which surged 12.4% in the past 24 hours after being selected as one of the 18 teams for the Ethereum Account Abstraction ERC-4337 Grant.

IoTeX (IOTX), launched in 2017, is a decentralized blockchain network designed for the Internet of Things (IoT). It has connected over 9,500 devices and completed 14 million transactions. Key products include Ucam, a secure home camera, and Pebble, a real-time data sensor. The Ethereum Foundation has concluded the ERC-4337 Account Abstraction grant round, awarding it to IoTeX and other recipients. IoTeX is developing a secure, ZKP-based account abstraction wallet to enhance interoperability for DeFi and gaming. The team has already completed an MVP and various infrastructure projects.

Check Out the Latest Prices, Charts, and Data of IOTXUSDT!

Talk of the Town:

Decentralized exchange dYdX is migrating from the Ethereum network to Cosmos and plans to offer a "purely decentralized" order book. CEO Charles d’Haussy said the move aims to improve the speed and performance of on-chain order books. Instead of hosting the order book on-chain, which would be slow, dYdX will store it within the memory of the network's validators. The migration will be smooth for users, requiring only a MetaMask wallet connection to the new dYdX chain.