Crypto News

1. The world's first Bitcoin-backed L1 public chain, Babylon Genesis, has officially launched, marking a historic milestone in Bitcoin's practicality and establishing the Babylon Bitcoin Staking Protocol as a core part of the Bitcoin infrastructure layer. 2. The Babylon protocol addresses the disconnect between the untapped potential of idle Bitcoin assets in the decentralized ecosystem and the Web3 world's security, liquidity, and active user demands. It allows Bitcoin holders to securely stake their assets, providing security and liquidity support to other decentralized networks while earning rewards. 3. To date, over 57,000 BTC have been staked through the Babylon protocol, with leading crypto asset custodians BitGo and Anchorage Digital announcing support for BTC staking and custody services for Babylon Genesis's native token, BABY. 4. Babylon Genesis will fulfill three core functions: the first Bitcoin-backed network (BSN), a control plane, and a liquidity hub. It has attracted participation from well-known networks such as Osmosis, TAC, BOB, and Corn into the BSN ecosystem. 5. Babylon Genesis is powered by a sound tokenomics model with an annual inflation rate of 8%, half of which is allocated to Bitcoin stakers and the other half to BABY token stakers. Token distribution focuses on long-term development, with a 4-year vesting period for investors, team, and advisor tokens.

This issue stems from the mechanism adjustment transitional period triggered by SIP-420 proposal, resulting in a temporary loss of sUSD's peg stabilization ability.

U.S. Miners Will Become More Expensive, Mining Market Share to Decline.

1. On-chain Funds: $12.9M inflow to OP Mainnet; $25.9M outflow from Ethereum 2. Largest Price Swing: $FARTCOIN, $ZEC 3. Top News: Data: U.S. Stocks' Previous 4 Violent Rebounds Were All "Dead Cat Bounces" in Bear Market Crises

This hard peg was a temporary "side effect" caused by Synthetix during the upgrade to the "420 Pool" mechanism.

The era of Blockchain networks and Stablecoins has arrived: technology, market demand, and political will are now converging.

Stablecoins have hindered their own widespread adoption by disrupting the monetary issuance process.

In the coming years, Bitcoin's widespread adoption may benefit from a dual drive of increased demand for scarce commodities and an improved investor environment.