Metis Andromeda Network Surpasses $700 Million TVL | Cryptocurrency Trends

1. Mainstream Exchange Trends:

• Bitget has listed xPet.tech (XPET) on December 28.
• Binance to launch USDC-M BTC, ETH, BNB, SOL and XRP perpetual futures on January 3, 2024, 8:30 PM (UTC+8), with a maximum leverage of 125x.
• Coinbase International Exchange announces to adjust perpetual futures leverage cap and eligible traders can access maximum leverage up to 10x.

2. Cryptocurrency Trends:

• Celsius, the bankrupt crypto lender, said it expects the company to exit bankruptcy in early 2024.
• Unibot to partner with Jupiter and Birdeye to launch specific trading bot on Solana.
• According to L2BEAT data, pushed by rising coin price, the Metis Andromeda network TVL surpassed $700 million, overtaking Base to become the third largest Ethereum Layer 2 network.
• According to L2BEAT data, Manta's TVL rose by 189.65% over the seven-day period to $316 million, ranking 8th in the Layer 2 TVL charts.
• The Arkadiko Protocol, a stablecoin protocol in the Stacks network, will launch Arkadiko 2.0 in 2024, introducing a stablecoin arbitrage mechanism.
• BendDAO has announced the launch of its new BRC-20 Inscription BDIN, which will offer early bird benefits to borrowers, lenders, pledgers, and veBEND holders.

3. Financing Trends:

• CESS, a decentralized storage platform, raised $8 million from HTX Ventures, Infinity Ventures Crypto, DWF Labs, Mentha Partners, Vespertine Capital, Web3 Foundation, Singchain Investment, 7 O'Clock Capital, SolrDAO, FishDAO, OneBlock+, Winkrypto and Polkadot Ecology Research Institute.
• BRC20.com, the BRC20 infrastructure project, has raised $1.5 million in funding led by UTXO Management, the asset management arm of Bitcoin Magazine’s parent company BTC Inc.
• Crypto mining company HIVE Digital raises US$21.78 million in buyout private placement financing.

4. Regulatory Trends:

• Judge Jed Rakoff of the U.S. District Court for the Southern District of New York ruled in a summary judgment that Terraform Labs violated federal securities laws when it sold its cryptocurrencies to the public by illegally selling unregistered cryptocurrency securities LUNA and MIR, CoinDesk reports.
• Financial Intelligence Unit India (FIU IND) under the Ministry of Finance recently issued compliance Show Cause Notices to nine offshore virtual digital asset service providers (VDA SPs) on December 29. These service providers are considered to be operating illegally in India and not complying with the provisions of the Prevention of Money Laundering Act (PML Act).