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MATIC network and MINA protocol are two projects that recently rolled out upgrades and a roadmap to boost scaling and decentralization through the zero-knowledge (zk) hype. A major Ethereum upgrade is slated to occur on April 12, this is a driver for narratives surrounding Ethereum scaling and the zk hype.

Polygon recently forayed into a zero-knowledge solution zkEVM and MINA protocol published its roadmap, boosting faster and low-latency transactions through zero-knowledge programmability.

Also read: Ethereum (ETH) price volatility increases with upcoming Ethereum token unlock

MINA protocol, one of the lightest blockchains in the world, announced its roadmap. The zero-knowledge Layer 1 blockchain MINA is focused on developing systems with trust minimization, ZK-Programmability, and enhanced performance.

MINAs roadmap for ZK Programmability is focused on boosting scalability and privacy for the project.

ZK Programmability

MINAs roadmap launch failed to trigger a recovery in the protocols native asset. MINA is exchanging hands at $0.72, yielding 4% losses for holders over the past week.

The protocol intends to capitalize on the zk hype and bring their zk programmability solution to mainnet in 2023.

Polygon network recently launched zkEVM, the layer 2 protocols take on scaling the Ethereum blockchain with higher efficiency. Polygons zkEVM has a Total Value Locked (TVL) of $1.1 million, according to data from DeFi aggregator DeFiLlama.

Total TVL in Polygons zkEVM

Data from Nansen shows a consistent decline in the daily active users and activity on both Polygons zkEVM and zkSync. However, in terms of market dominance, zkSync controls 57.7% of all activity on zkEVM networks.

DAU and market share of zkSync, StarkNet and Polygon zkEVM

StarkNet is second to zkSync, coming in at second place with 25% of market share in the zk ecosystem. MATIC network lags behind and is limited to less than 2% of the zk market share.

Crypto Twitter is filled with speculation from analysts predicting an airdrop in zkSync. The zk narrative has gained traction, driving users and higher TVL to the ecosystem, as noted above. Projects like MINA protocol are working on launching roadmaps and capitalizing on the zk narrative to gain higher market share and users. Ethereum's upcoming upgrade Shanghai hard fork has fueled the hype surrounding the altcoin blockchain's scalability. This supports the narrative of zk projects and scalability of the ETH blockchain.

Read more:

MATIC and MINA protocol ride the zk hype ahead of major Ethereum upgrade - FXStreet

PostFinance, the financial services firm fully owned by the Swiss government, will offer its customers a range of regulated crypto services delivered through Sygnum's B2B banking platform.

Thanks to the partnership with digital assets bank Sygnum, its customers will now be able to buy, store, and sell cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), according to an announcement. PostFinance is Switzerlands fifth-largest financial services firm boasting more than 2.5 million customers.

"This partnership illustrates how digital assets are now an integral part of the financial landscape in Switzerland. In this sense, the PostFinance and Sygnum partnership represents an important, and fully regulated step, towards increased asset class adoption," Sygnum's chief B2B officer Fritz Jost told Decrypt. "Switzerland as an investment ecosystem offers a number of strategic advantages, including regulatory clarity for cryptocurrencies and off-balance sheet segregation of crypto assets which eliminates credit risks."

A PostFinance spokesperson told Decrypt that its "analyses show that our customers want access to the crypto market. The past few months have shown that customers want more security, regulation, and trust. We can offer this. Our top priority is to offer trading and safekeeping within a secure framework for our customers and to ensure the highest level of regulatory compliance."

Sygnum's B2B banking solution lets existing financial institutions crypto products and services, with PostFinance joining more than a dozen of the platforms other banking partners.

Digital assets have become an integral part of the financial world, and our customers want access to this market at PostFinance, their trusted principal bank, PostFinance's CIO Chief Investment Philipp Merkt said in a statement. A reputable and established partner like Sygnum Bank with an excellent service offering is more important than ever.

PostFinance did not respond immediately to Decrypt's request for comment.

The new partnership also enables PostFinance to provide revenue-generating services such as crypto stakinga process of locking crypto assets for a set period of time to help secure a blockchain network in exchange for rewards on users holdings.

Sygnums staking offerings include Ethereum, the industrys second-largest cryptocurrency by market capitalization, Cardano (ADA), Internet Computer (ICP), and Tezos (XTZ).

"Our continually expanding B2B offering, which currently includes 25 leading cryptocurrencies including DeFi-focused, 60+ trading pairs, and four leading fiat currencies, is available for deployment by PostFinance on a flexible basis. Additional details about the token and staking offering roadmap will be communicated by PostFinance in the lead-up to launch," Jost told Decrypt.

In June 2021, Sygnum also launched institutional-grade custody and trading services for the USDC stablecoin, as well as for a portfolio of decentralized finance (DeFi) tokens, such as Aave (AAVE), Aragon (ANT), Curve (CRV), Maker (MKR), Synthetix (SNX), Uniswap (UNI), and 1inch (1INCH).

More here:

Swiss Bank PostFinance to Roll Out Bitcoin, Ethereum Services for Clients - Decrypt

The US has been cold to the cryptocurrency industry since the collapse of the Signature, Silvergate, and Silicon Valley Banks. Colorado Senator Michael Bennet attributes this failure to the instability of crypto.

Signature Bank failed, and almost a fifth of its deposits came from crypto, he said, adding, Theyre not allowed to do anything with marijuana, but they can lay 20% of this on crypto a notoriously unstable thing that nobody here even understands and where the value of the assets can soar and collapse.

Ambre Soubiran, CEO of Paris-based crypto market data provider Kaiko, says the United States crackdown on crypto could ultimately see the industrys shift towards Hong Kong. The US being more stringent these days than ever on crypto and Hong Kong regulating more favourably is going to shift the centre of gravity of crypto assets trading and investments towards Hong Kong, she said.

Despite US frostiness towards cryptocurrencies, Hong Kong remains committed to its goal of becoming a crypto hub. More than 80 virtual-asset firms have set up shop on the Fragrant Harbour, and 23 crypto firms plan to establish their presence soon.

In 2021, China effectively banned financial institutions from providing cryptocurrency services. Under this ban, banks and online payment channels cannot provide trading, settlement, clearing, and registration of cryptocurrencies.

In contrast, Hong Kong has been committed to re-affirming itself as a global crypto hub. That same year, Hong Kongs Securities and Futures Commission announced that Hong Kong is willing to distinguish its crypto regulation approach from the blanket crypto ban in mainland China.

Xiaoba, a Chinese cryptocurrency entrepreneur moving startup to Hong Kong, said, It is a grey area in the mainland. There is clarity and a sense of safety in Hong Kong that would allow me to flourish.

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Cryptocurrencies are largely unregulated, which means they can be used for scams, money laundering, and tax evasion. The instability of cryptos also has broader implications for the overall financial market.

In conclusion, while there are many negatives associated with the crypto market, it is still a very new form of currency, and its potential has yet to be realised.

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Originally posted here:

Cardano and Solana Can Take the Fight to Ethereum, Big Eyes ... - Analytics Insight

The crypto markets, like the traditional finance world, are due to the behavior of thousands, if not millions, of investors making individual decisions. These seemingly unrelated and unconnected decisions, when looked at from a bigger-picture perspective, start to form a pattern. This is the reason why fractals occur in nature, this is the reason why history rhymes and sometimes repeats itself.

Hence, paying close attention to social cues could be a powerful tool in the hands of the right investor. As the second quarter of 2023 kickstarts, certain repetitive behaviors are beginning to resurface that could indicate that a local top for the 2023 bull rally might be around the corner.

While the crypto market and stock market happen to be starkly different from each other, in some ways, they share a lot of similarities. The changes in prices due to market events are both cyclical in nature, i.e., they follow a pattern of highs and lows and form tops and bottoms over time.

In the case of the crypto market, year to date, digital assets have noted significant increases. Bitcoin price since the beginning of 2023 has risen by over 70%, and Ethereum price similarly over the last three months has increased by 58%. Other altcoins have also noted massive gains, which indicate an active bullish narrative.

However, certain recent events suggest that a top could be forming.

Over the last few months, the crypto market has noted instances suggesting a local top, such as:-

But this is not the first time this has been observed, as in the past, similar events have occurred that led to the formation of a local top.

IMX social sentiment

Although it is premature to predict a local top, investors need to be cautious regardless, as the aforementioned signs are usually signals of a top and can trigger a drop in price at any time.

As for now, Bitcoin investors need to watch out for a rise to $35,000 and $38,500, as these would mark key levels for taking a profit. At the same time, should corrections arrive and Bitcoin price fall below the key support level of $24,736 to $17,600, selling pressure could rise.

For more information on potential corrections or retracements in the future where investors can accumulate, refer to the article attached below.

Bitcoin Weekly Forecast: Breaking down key BTC levels to accumulate for Q2, 2023

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Why these social cues could be forecasting a local top for Ethereum and the broader crypto markets - FXStreet

Ethereum mainnet archive node service ArchiveNode.io says it will be shutting down, claiming that the project has been a success.

On April 4, ArchiveNode.io announced it was sunsetting its services after more than three years of providing free Ethereum mainnet archive node services to developers, students and researchers.

An Ethereum Archive Node is an instance of an Ethereum client configured to build an archive of all historical states. This type of node is a useful tool for querying historical blockchain data that is not accessible on full nodes.

Additionally, Archive Nodes are not required to participate in block validation so they can theoretically be built from scratch; however, they do require much greater storage capacity.

The announcement was made by DeFi Dude, who initiated the project and claimed it was being shut down because we succeeded," adding:

He added that nobody was running Archive Nodes when the project started. The only option was to pay Ethereum infrastructure provider Infura $250 monthly to access archive data.

The goal of the project was to get archive data into the hands of developers, students, and researchers who wanted to build cool shit, but didnt have the time, money, or resources available to run their own archive node.

He confirmed the project was never to make money or profit.

Related:SEC lawsuit claims jurisdiction because ETH nodes are clustered in the US

He added there is currently a robust remote procedure call (RPC) provider market offering access to archive data making the project obsolete.

ArchiveNode.io thanked the Ethereum Foundation for their initial grant of $10,000 in Amazon Web Services (AWS) credits to get the project off the ground.

According to a Cointelegraph report from August, just three centralized cloud providers account for more than two-thirds of Ethereum nodes. More than half of the total nodes were hosted on AWS, according to data at the time.

Features: Account abstraction supercharges Ethereum wallets: Dummies guide

Read more here:

Ethereum Archive Node service shuts down, saying it succeeded - Cointelegraph