Crypto Spring Emerges: Smart Contract Platform Index Skyrockets

• Digital Asset Markets Are Showing Strong Activity
• BanklessDAO's Education Proposal
• Vitalik Buterin's Dissertation
• Bitcoin Mempool Sniping
• Crypto Mixer Sinbad Sanctions
• Blockchain Tech Upgrades and Developments
• Fundraising
• Deals and Grants
• Data and Tokens
• Regulatory, Policy, and Legal
• Unprecedented Growth in The Source Smart Contract Platform Index
• Upcoming Events

Digital Asset Markets Are Showing Strong Activity

Digital asset markets are experiencing significant activity, particularly in the realm of blockchain tokens. Notably, November saw a remarkable 19% surge in The Source Smart Contract Platforms Index (SMT), the most significant gain in the last ten months. An increase in hype is noticeable, prompted by the unfolding drama surrounding Blast, the new addition to the growing competition amid Ethereum$2,315 -2.42% layer-2 blockchain networks.

BanklessDAO's Education Proposal

Simultaneously, another topic of discussion is BanklessDAO's proposal for education. They have proposed a budget of approximately $1.8 million in ARB tokens to finance a year-long education initiative, according to a report by The Source this week. This elicited both criticism and scrutiny on social media and led to strained relations with Bankless HQ. The leaders of Bankless HQ are currently seeking to reaffirm their brand's individuality.

Vitalik Buterin's Dissertation

Another noteworthy development is Ethereum co-founder Vitalik Buterin's recent dissertation about his views on techno-optimism. The Defiant's Cami Russo sums up Buterin's philosophy as promoting a deliberate and balanced path in technological development.

Bitcoin Mempool Sniping

There has been a discussion on Bitcoin$42,260 -0.64% mempool sniping following the sold-out mint of OrdiBots augmented-reality Ordinals collection on Magic$1.08 -6.82% Eden. Whether the front-running technique could soon become a few clicks on a website is a topic of debate.

Crypto Mixer Sinbad Sanctions

Adding to the recent developments, the U.S. Treasury sanctioned crypto mixer Sinbad based on allegations that it supported transactions linked to North Korea's state-sponsored hacking group, Lazarus Group.

Blockchain Tech Upgrades and Developments

In terms of blockchain tech upgrades, developers at BNB$312 -5.65% Chain are looking to more than double the transaction speed and cut network fees by 90% as part of a new technical roadmap for layer-2 network opBNB.

Fundraising

Deals and Grants

Blockchain Messaging Platform, Wormhole, raises $225 million at $2.5 billion valuation. Santander has selected Crypto Custody Firm Taurus for Safeguarding, while KyberSwap offers a 10% bounty to an attacker who stole $50 million.

Data and Tokens

Bitcoin is on track for $100,000 by the end of 2024, according to Standard Chartered, while Aave's GHO Stablecoin is nearing the elusive Dollar Peg.

Regulatory, Policy, and Legal

Bitcoin Group is addressing 'serious deficits' in money laundering measures flagged by the German Regulator. The UK will impose penalties on crypto users for unpaid taxes.

Unprecedented Growth in The Source Smart Contract Platform Index

From the perspective of digital-asset traders, it seems as though the crypto winter has ended, and the crypto spring is in full swing. Bitcoin has increased by 11% in November, marking its third consecutive month of gains, and major blockchain projects' native tokens are also on the rise. The Source Smart Contract Platform Index (SMT) has soared by 19% in the past month, the largest increase since January. The most remarkable performers were Sei's SEI and Axelar's AXL, each doubling in price. Ethereum's Ether (ETH) increased by 13%, the highest in seven months. All but one of the SMT's 47 members saw an increase this month; the only exception was Qtum's QTUM, which declined by 2.7%.

Upcoming Events

Here are some of the important dates to keep an eye on:

• Nov. 28: EOS native consensus upgrade with "instant finality."
• Dec. 1-3: Africa Bitcoin Conference, Ghana.
• Jan. 30: Stellar upgrade for Soroban smart contracts, public network readiness date.
• Feb. 22-24: Bitcoin++, Buenos Aires.
• April 2024 (estimate): Next Bitcoin halving.
• April 8-12: Paris Blockchain Week.
• May 29-31, 2024: Consensus, Austin Texas
• July 25-27: Bitcoin 2024, Nashville.

Edited by Jonathan Stoker