02/07/2024
# # # Weekly Blockchain and Cryptocurrency Highlights by SIMBA .i
**Blockchain Technology Updates**
1. **Cardano Network Performance**: Charles Hoskinson highlighted the exceptional performance of Cardano (ADA) as the network sees increased large transactions, suggesting growing investor confidence and network activity.
2. **Ethereum Layer-2 Solutions Growth**: Arbitrum, Base, and Optimism have experienced a fourfold increase in transaction volume this year, showcasing the growing adoption of Ethereum’s layer-2 solutions designed to enhance transaction speed and reduce costs.
3. **Hong Kong’s Enhanced Crypto Framework**: Hong Kong has updated its regulatory framework to offer dual licenses for trading cryptocurrencies and security tokens, positioning itself as a global leader in cryptocurrency regulation.
**Cryptocurrency News**
1. **Bitcoin and Price Predictions**: Top analysts have forecasted Bitcoin (BTC) to potentially reach $173,000 by the end of the current cycle, reflecting significant market optimism.
2. **Regulatory Moves in the US and Asia**: The US Supreme Court’s recent ruling is seen as a positive development for the crypto industry, potentially leading to more favorable regulatory conditions. Additionally, Hong Kong’s new dual licensing framework aims to enhance its competitive edge in the crypto market.
3. **Shiba Inu Network Update**: The Shiba Inu (SHIB) development team is preparing for a major upgrade of the Shibarium network, which is expected to significantly impact the token’s ecosystem and performance.
**DeFi and NFT Highlights**
1. **DeFi Technologies Expansion**: DeFi Technologies Inc., through its subsidiary Valour Inc., has launched two new Exchange-Traded Products (ETPs) on the Spotlight Stock Market, expanding its offerings and enhancing access to DeFi investments.
2. **NFT Innovations and Security**: The AIOZ Network has launched version 4.0 of its node, improving the network’s capabilities and supporting transcoding, which is crucial for its operations. Additionally, a recent cyberattack targeted $11 million in assets on the OKX exchange, highlighting ongoing security challenges in the NFT space.
3. **Web3 Adoption**: Coin98 has integrated the X Layer, a decentralized Ethereum Layer-2 solution, into its Super App, enhancing accessibility and functionality for Web3 users. This integration is part of broader efforts to improve user experiences and drive Web3 adoption.
*Note: This content is based on current events and should be considered for informational purposes only. Always conduct your own research before making any financial decisions.*
.i