Get insights on Uniswap V4, eToro's crypto suspension, investor sentiments, and Puppynet's growth in the crypto landscape.
Uniswap Releases Vision for UNI V4

Uniswap Releases Vision for UNI V4

Jun 14, 2023
| Issue

Hello all! Welcome to another edition of the Datawallet newsletter. As usual, we will cover interesting developments from the crypto world and help investors of all levels be informed and stay ahead of the curve. Read on!

Today’s drop will cover these key daily news items:

  • Uniswap releases Version 4 (UNI V4) code
  • Investor sentiment dampened
  • eToro halts sale of MATIC
  • Shiba Inu testnet 'Puppynet' crosses 20 million transactions
  • Atomic Wallet hackers move stolen crypto

Uniswap releases V4 vision and code

In an announcement made on June 13, Uniswap Labs' Founder, Hayden Adams, unveiled an initial version of Uniswap V4 code. This latest code brings "hooks" or add-ons that enable custom-designed liquidity pools, marking a significant step from the existing V3 version launched in May 2021. Uniswap, which processes over $1.5 trillion in trading volume, stands as the world's largest decentralized crypto exchange.

Recognizing the need for continuous adaptation with evolving markets, Uniswap has welcomed the introduction of V4, expected to broaden opportunities for liquidity creation and token trading. The early code is released publicly for feedback and community contribution, a process that may last several months. The new architecture, featuring a "singleton" contract where all pools coexist, ensures cost-efficiency and operational effectiveness, promising fast and safe pool customization along with efficient routing.

Investor sentiment dampened

While shares surge in anticipation of the Federal Reserve's interest rate verdict this week, the cryptocurrency market narrates a contrasting tale, as bitcoin's (BTC) unimpressive reaction incites pessimism among investors. The focal point of the week in the US is the Federal Reserve's Federal Open Markets Committee (FOMC) gathering, which commences on Tuesday morning and wraps up on Wednesday afternoon.

eToro halts sale of MATIC 

The retail trading platform eToro has ceased the buying of cryptocurrencies like Algorand [ALGO], Decentraland [MANA], Dash [DASH], and Polygon [MATIC] for clients residing in the United States. This decision has been made as a result of the U.S. Securities and Exchange Commission (SEC) categorizing these tokens as securities.

On June 12th, eToro notified its users about this measure, stating it was taken "due to the quickly changing regulatory environment" in the U.S.

Shiba Inu testnet 'Puppynet' crosses 20 million transactions

The native test network of Shibarium, known as Puppynet, has exceeded 20 million transactions from a total of 16 million wallets, inching nearer to a mainnet launch in the upcoming months. Testnets like Puppynet serve as blockchain networks specifically created for testing reasons. They simulate mainnet activities, enabling developers to identify and fix any problems while also observing network activity before a broader release.

Atomic Wallet hackers move stolen crypto

Blockchain analysis company Elliptic's investigators discovered that a portion of the funds taken in the recent attack on Atomic Wallet has been transferred to Garantex, a cryptocurrency exchange that has been sanctioned by the U.S. Treasury's Office of Foreign Assets Control (OFAC).

When the sanctions were implemented, the Treasury calculated that Garantex had handled $100 million worth of transactions connected to illegal entities and darknet marketplaces, such as nearly $6 million originating from the Russian ransomware-as-a-service (RaaS) group Conti and $2.6 million from Hydra.

Other breaking news

Wrapping up

That’s all for today folks! It has been a busy day in crypto, with Atomic Wallet hackers moving the stolen funds around, and Shiba Inu testnet gaining traction. Investor sentiment dampens due to expectations of FEDs speech and eToro halts sale of all tokens in SECs crosshairs. Stay informed and ahead of the game with our daily crypto scoop. See you tomorrow!