#applications

Avalanche blockchain is trailing in the stablecoin market, with a capitalization of just $1 billion. This situation is taking a toll on the DeFi applications' liquidity within its ecosystem and obstructing a steady flow of new users to the platform. To draw a comparison, the stablecoin market cap on Ethereum stands at $71 billion, while on Tron, it is $52 billion.

The market is heating up, as Spot Bitcoin ETF issuers have submitted updated applications, and now are vying to provide the most attractive commission rates to their clients. Some are introducing lowered or even zero commissions for an initial period of 6-12 months. Other cases involve fees tied to a certain investment threshold.

Matrixport has shifted its view on the likelihood of a Bitcoin ETF approval, now asserting that the U.S. Securities and Exchange Commission (SEC) will reject all such applications in January 2024. The company attributes this change in stance to the SEC's current political dynamics and Chairman Gary Gensler's personal opinions.

BlackRock, Ark Invest and 21Shares have recently revised (1, 2) their applications for a spot Bitcoin ETF. Notably, the ticker ARK 21SHARES BITCOIN ETF (ARKB) has appeared on the DTCC website.

The U.S. Securities and Exchange Commission (SEC) has designated December 29 as the deadline for the final amendments to the registration applications of spot Bitcoin ETFs, applicable to at least two companies, as per a Reuters report.

The Chinese government, known for its cryptocurrency ban, is showing signs of easing its policy on decentralization. It has announced plans to support the development of the Web3 ecosystem, dApps, and NFTs. This new approach is detailed in a recent strategic planning document released by China’s Ministry of Industry and Information Technology.

SushiSwap's Chief Technical Officer has issued an alert on X, highlighting that decentralized applications utilizing the Web3 connector LedgerHQ/connect-kit are at risk.