On October 17, Kraken introduced Kraken Wrapped Bitcoin (kBTC), a new ERC-20 token aimed at increasing Bitcoin's utility across decentralized applications (dApps) on networks such as Ethereum and OP Mainnet.

Kraken, a leading cryptocurrency exchange, launched its own wrapped bitcoin (BTC) token, known as kBTC, on October 17.

The Kraken's launch of Wrapped Bitcoin will further enhance the mainstream adoption of BTC through Web3 space across different chains.

After Coinbase, Kraken has launched its very own wrapped Bitcoin product.

Kraken's launch follows the recent introduction of Coinbase's wrapped bitcoin asset, cbBTC, with both tokens competing against WBTC.

Optimism (OP) is in the spotlight, with heightened volatility expected from its upcoming token unlock.

Lido Finance, the largest DeFi platform by assets under management, is expanding. The liquidity staking platform said it now supports the deployment of its stETH value-accruing token on Optimism, a layer-2 solution for Ethereum.

The cryptocurrency market continued its strong start to the week, with almost all major cryptocurrencies in positive territory. Bitcoin (BTC) is up over 2% in the past 24 hours and briefly climbed above $66,000 before dropping to its current level of $65,500.

The Polygon chief has repeatedly suggested that an OP Stack chains are coming to the AggLayer.

In this article, we look at the latest airdrop updates in the crypto world, focusing on the Optimism and Swell projects.

Optimism price is recovering from a significant 13% drop between October 7 and 10, fueled by general market conditions. The announcement of an Optimism airdrop from the Optimism Foundation, coupled with the unexpected U.S. CPI data, initially had negative effects on the price.

Optimism token remained in a deep bear market as the recent rally of most cryptocurrencies stalled. Optimism (OP), a leading layer-2 token, was trading at $1.5140 on Oct. 10, down 70% from its highest point this year.

Optimism (OP) price has shown signs of a bullish trend as it continues to move within an ascending triangle pattern, which often signals upward price movement. The Layer 2 chain has recently gained attention with its fifth airdrop, distributing 10.3 million OP tokens.

TL;DR Optimism's Fifth Airdrop: Distributed 10.3 million OP tokens to over 54,700 users, valued at approximately $16 million. Eligibility Criteria: Users needed to interact with at least 20 different contracts or engage with at least seven chains on the Superchain between March 15 and September 15, 2024.

Per Optimism, recipients of the airdrop have until February 13, 2025, to claim their OP tokens.

Bears dominate the crypto space as Bitcoin lost 1.90% in the precious 24 hours, showcasing weakness above $60,000. Meanwhile, layer2 blockchain Optimism (OP) led the downside, losing over 6% within the past day. Optimism's downward stance follows the recent airdrop, which saw the network distributing 10,368,678 tokens (worth around $16 million).

Optimism launched its fifth airdrop, distributing 10.3 million OP tokens (worth $16 million) to 54,700 user addresses.

OPTIMISM Unlock date - Oct 10th 2024 Number of tokens unlocked- 8 million OP (0.64% of its circulating supply) Current Circulating Supply - 1.25 billion OP Previous token unlock - Sep 30th, 2024 OP Mainnet is a low-cost and lightning-fast Ethereum L2 blockchain powered by Optimism. It is an EVM equivalent layer 2 blockchain designed to scale up Ethereum.

The Lido (LDO) short-term position continues to be compromised in the face of a market-wide correction phase, dragging the altcoin market to the mud. As of writing, the token has lost over 20% in value, representing a massive flip in investor sentiment.

Three cryptocurrencies will unlock nearly $150 million worth of tokens, potentially flooding the market with increased supply pressure. Speculations on the outcome of such massive inflation could bring uncertainty and increase the risks of trading these tokens.

Optimism (OP) price has been under pressure this year, reflecting the broader challenges faced by the scaling solution ecosystem. Key indicators suggest a significant shift in market sentiment, raising concerns about future price trends.

The cryptocurrency markets continued to drop for the second day in a row, with major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), firmly entrenched in the red. BTC slumped to a low of $60,031 before recovering and is currently trading around the $61,300 mark.

POPCAT leads Lido DAO in market cap. The meme coin based on a viral cat named Oatmeal has achieved a market cap of 987M while Lido DAO nearly matches with 982M.

Optimism (OP) is gaining momentum in the cryptocurrency market, with analysts predicting a potential rally of up to 70%. This bullish sentiment comes as the token approaches a crucial resistance level of 3000 sats, which experts believe could trigger a significant breakout.

Binance will cease trading on ACE/FDUSD, FIL/BNB, OP/BNB, and TRB/FDUSD trading pairs effective October 4, 2024, due to poor liquidity and trading volume.

Twelve cryptocurrencies will unlock nearly $300 million in previously non-circulating supply this week, raising concerns as sales could intensify. Among these unlocks, three projects alone will release over $220 million, to which traders and investors should give special attention.

As we near the end of 2024, Grayscale Research has revealed an exciting list of the top 20 cryptocurrencies expected to shine in the final quarter. With six new altcoins added, including Sui (SUI) and Optimism (OP), the buzz in the crypto market is palpable.

Grayscale's updated list signals a strategic shift towards decentralized AI and high-performance infrastructure, highlighting evolving market trends. The post Grayscale lists SUI, TAO, OP, CELO among top “high potential” tokens for Q4 2024 appeared first on Crypto Briefing.

Recent reports from blockchain analytics firm Lookonchain revealed that the whale liquidated 150,428 INJ tokens, valued at approximately $3.29 million. The transaction involved swapping these tokens for an impressive 2.44 million LDO tokens, worth around $3.05 million at the time of the exchange.

Grayscale Research has published a new list of 20 digital assets that have high potential in the fourth quarter of the year.

Lido Finance recently reported a remarkable increase in its total value locked (TVL), which rose by 10.83% over the past week, reaching $25.18 billion as of September 23, 2024. This growth is primarily attributed to a significant surge in Ethereum's price, which has enhanced the value of assets staked through the platform.

Lido Finance reported that its total value locked (TVL) increased by 10.83% over the past week, reaching $25.18 billion as of Sept. 23. This growth is primarily attributed to a rise in Ethereum's token price, which boosted the value of assets staked through the platform.

With the US Federal Reserve cutting interest rates by 50 basis points on September 18, the crypto market is preparing for an upward thrust. However, a few top altcoins have already surged quite a bit in anticipation of the rate cuts.

WalletConnect, a protocol that facilitates connections between crypto wallets and decentralized applications, is set to launch its native Connect Token (WCT) on Optimism's OP Mainnet.

Lido's performance has been disappointing over the past year. The token has seen a substantial drop of 35% year-to-date and continues to face challenges, with a recent 24-hour decline of 3.3%.

Based on Q3 returns, investors holding the other top DeFi blue chips were in losses, but not AAVE.

Lido has been on a bearish trend. However, an analyst's latest optimistic prediction of a potential multi-month rally offers hope.

OP Succinct optimizes ZK rollups, reducing transaction times and costs on Ethereum. The collaboration between Succinct Labs and OP Labs aims to boost blockchain scalability.

Notcoin (NOT), Ontology (ONT), Optimism (OP), and Orbs (ORBS) are showing intriguing developments as the broader cryptocurrency market struggles to maintain a bullish trend after Bitcoin dropped below $60k.

Succinct Labs and OP Labs have collaborated on a zero-knowledge proofs solution that significantly improves transaction finality and gas costs compared to optimistic rollups. On Sept.

Succinct Labs collaborated with OP Labs, the main contributor to the Optimism, a Layer 2 scaling solution for Ethereum.

Bitcoin (BTC) briefly hit $58,000 early in today's session, but selling pressure forced the price back below $57,000. The world's largest cryptocurrency continues to face resistance at upper levels, causing bulls to lose momentum.

Story Highlights The live price of Lido Dao is With a surge, Lido Dao could go as high as $5.782 by the end of 2024. LDO price with a potential surge could reach a maximum of $22.112 by 2030.

Ethereum (ETH) has faced significant challenges recently, grappling with bearish market trends that have left many investors uncertain. However, new developments in layer-2 solutions such as Optimism (OP) and emerging meme coin projects like Mpeppe (MPEPE) are offering some hope.

Bitcoin remains below $55,724 support, but the selling may be reducing, increasing the possibility of a relief rally in UNI, SUI, OP and HNT.

Major Crypto exchange Coinbase has revealed additional listings this week. Specifically in the past day, Coinbase announced the addition of zkSync (ZK) to its listing road map.

In this bearish market sentiment, Nansen's CEO, Alex Svanevik has made a significant move that could trigger a sharp price drop in Lido DAO (LDO). On September 6, 2024, the on-chain analytic firm Lookonchain made a post on X (previously Twitter) that the CEO had dumped 3 million LDO tokens worth $2.89 million to Coinbase.