Syscoin developer launches Ethereum-compatible Layer 2 network
Sys Labs, the developer behind the Syscoin blockchain, has launched a “layer 2” network called Rollux. This network aims to provide cheaper and faster transactions by combining Ethereum-style programmability with Bitcoin’s security.
Fidelity readies new spot bitcoin ETF filing
Asset manager Fidelity is expected to file for a spot bitcoin exchange-traded fund (ETF) with the U.S. securities regulator. Fidelity joins other big money managers seeking to launch bitcoin ETFs, indicating a growing interest in cryptocurrency investments.
Binance, the world’s largest cryptocurrency exchange, saw its market share continue to decrease in June. This decline can be attributed to the U.S. Securities and Exchange Commission’s lawsuit against the company and its founder Changpeng Zhao. The regulatory challenges are impacting Binance’s position in the market.
Hot Take:
The cryptocurrency market is experiencing various developments. Syscoin’s launch of Rollux provides potential benefits in terms of transaction speed and cost. Fidelity’s move to file for a bitcoin ETF shows a growing acceptance of cryptocurrency in traditional finance. However, Binance’s decreasing market share indicates the challenges faced by major exchanges amidst regulatory scrutiny. Investors should closely monitor these developments to make informed decisions in the crypto market.