#transactions

DeBank has introduced a new Layer-2 solution based on OP Stack for user experimentation. It's now live for testing, and the mainnet is slated for 2024. According to an official briefing, developers have accomplished cost reductions ranging from 100 to 400 times for specific transactions, all the while targeting gas expenditure. Besides, to fortify user defense and trim L1 data leaks, transactions will be signed with a specially devised second-tier private key.

Japan's Soramitsu is at the forefront of crafting a system that enables cross-border transactions specifically tailored to the Asian market. This initiative involves leveraging the Cambodian CBDC to cater to markets in India, China, and Japan. Additionally, Soramitsu aspires to establish a Japanese exchange for stablecoins, simplifying currency conversion across various countries.

The data analysis company, Santiment, has detected a notable surge in transactions (exceeding $10 million) within certain renowned altcoins, including AAVE, APE, COMP and others. The majority of these have seen a price decline, with AAVE being the exception, as its value increased by 1.14%. This shift was discernible not only against the dollar but also when compared to Bitcoin.

Justin Sun has purchased 5 million CRV from Curve founder Michael Egorov via OTC transactions at a price of $0.4. This move is set to marginally enhance Egorov’s position in FRAX. Along with Justin, seven other addresses conducted OTC transactions with Michael Egorov at $0.4 per CRV. Currently, CRV trades at $0.59. Hopefully, the Curve founder can avert the liquidation of his position; otherwise, it could have a negative impact on a large number of protocols in the ecosystem.

Bendigo Bank, one of Australia's leading banks, has decided to limit high-risk crypto payments to protect its customers from potential scams. As a result, Bendigo Bank has become the fourth major bank in Australia to implement such security measures. However, the precise criteria used to block transactions remain unknown.

Ukraine's Security Service has successfully dismantled a significant underground network that was carrying out unauthorized financial transfers between Russia and Ukraine, making use of banned Russian payment systems and digital currencies. Active in four regions, these secretive hubs were handling over $1 million each month. Platforms like Yumoney, Webmoney, and various cryptocurrencies were employed to change Russian rubles into digital currencies and subsequently into Ukrainian hryvnia. The primary customer base was made up of hackers and companies participating in under-the-table transactions with Russia.

Currently, one token is equivalent to $3.5 in dollar terms. Conversely, the value of the CRV token hovers around $0.6 on other trading platforms. Such price discrepancies have been spotted on other exchanges too. We advise you to hold off on any transactions involving the CRV token for the time being.

Layer 2 network Optimism has surpassed Arbitrum, recording 944,000 daily transactions, which is nearly 50% more than its former frontrunner with 660,000 daily transactions. The surge in activity on Optimism can be attributed to the recent Bedrock update and the excitement surrounding the Worldcoin project, which enables user accounts within this network. However, when it comes to Total Value Locked (TVL), Arbitrum remains in the lead, boasting over $2 billion — twice as much as its competitor.