Here is what we have in store in this Market Summary:
1. Ethereum Layer 2 Zero Network to wind down operations
2. Coinbase launches thematic perpetual contracts tied to equity indexes
3. Near Protocol to automate blockchain scaling with dynamic resharding
4. MoonPay completes acquisition of Decent and launches MoonPay Trade
5. Verus bridge attacker returns 4,052 ETH and retains $2.8M bounty
Zero Network shuts down Ethereum Layer 2 operations
Zero Network is shutting down its gasless Ethereum Layer 2 after around 1.5 years of operation.
The team said it is closing the network to focus on Zerion’s API and wallet products. It added that while the original vision of a gasless, EVM-compatible rollup remains valid, running a standalone blockchain was not the right approach to achieve it.
Read the full article by The Block here
Coinbase launches thematic equity perpetuals
The thematic contracts are based on MarketVector’s existing AI, defense, and China indexes, designed to track the 10 largest companies in each of those sectors.
The products expand Coinbase’s derivatives offering into macro and thematic equity exposure, allowing traders to take positions on broader sector narratives.
Read the full article by The Block here
Near Protocol to automate blockchain scaling with dynamic resharding
Near Protocol will introduce dynamic resharding in June, allowing the network to automatically add shards as activity and demand increase.
The upgrade is intended to improve scalability for AI-driven onchain applications and adding post-quantum-safe signing to protect against future quantum computing threats.
Read the full article by CoinDesk here
MoonPay acquires Decent and launches MoonPay Trade
MoonPay announced its fourth acquisition of the year with the purchase of Decent, alongside the launch of its new trading product, MoonPay Trade.
The expansion strengthens MoonPay’s position across payments and trading infrastructure, adding new capabilities for users to move between fiat and crypto assets within a single platform.
Read the full article by The Block here
Verus bridge exploiter returns partial funds
The Verus-Ethereum bridge exploiter returned 4,052 ETH, worth approximately $8.5M, to a Verus team address
The exploiter retained 1,350 ETH, valued at roughly $2.8M, which the Verus team offered as a bounty in exchange for the return of the funds and a commitment not to pursue legal action or further investigation.
Read the full article by The Block here
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Disclaimer:
The content covered in this newsletter is not to be considered investment or financial advice. It is for informational and educational purposes only. The views and opinions expressed in this publication do not reflect those of AP Collective.
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