Hot Topics
- •MegaETH has reversed its $500 million pre-deposit campaign and plans to fully refund users. This decision follows a series of missteps, including failed transactions, breakdowns in its KYC system, and smart contract errors.
- •Bitwise has updated its spot Avalanche ETF filing to include staking rewards, marking the first issuer to offer built-in yields for such a product.
- •The Balancer DAO has begun discussions on an $8 million recovery plan. This plan aims to distribute recovered assets to liquidity providers affected by a $110 million exploit that reduced the total value locked (TVL) by two-thirds.
Market Developments
- •BitMine Immersion Technologies has acquired 14,618 ETH. Concurrently, Chair Tom Lee has predicted that ETH will reach between $7,000 and $9,000 by the end of January 2026.
- •Kalshi has doubled its valuation to $11 billion within weeks. This valuation solidifies its position in a prediction market duopoly with Polymarket, which is reportedly eyeing $12-15 billion in funding.
- •The Ethereum block gas limit has been raised to 60 million from 45 million. This increase is intended to boost capacity ahead of the upcoming Fusaka upgrade.