Rollups Integrate AvailDA, Renzo Modifies Airdrop After Backlash

Apr 25, 2024
Market Update U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in #META following its Q1 earnings release. Crypto markets are faring better, with #BTC (-0.28%) trading at $64k and #ETH (+0.32%) showing strength, rising to $3,150. A report was released this morning that the SEC plans to reject the Ether spot ETFs in May. Although the reason for the rejection remains to be seen, the news is likely fully priced in and may provide support to the ETHBTC ratio, which has gained 0.60% and is approaching the 0.05 mark. Source: ZerohedgeAvail, a modular interoperability solution, plans to onboard Arbitrum, Optimism, StarkWare, zkSync, and Polygon to its data availability solution, AvailDA, helping them scale their respective networks. Data availability has become a bottleneck in rollups’ scaling journey, and Avail should help improve L2 efficiency. Although the partnerships pertain to data availability, Avail also has two other key components – Avail Nexus and Avail Fusion – that complete the “Avail Trinity.”

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MARKET UPDATE EQUITIES ARE SHOWING MODEST DECLINES TODAY AFTER REACHING NEW ALL-TIME HIGHS YESTERDAY. The SPY 0.06%  and QQQ 0.55%  have declined approximately 0.20%, while rates are finding some relief despite jobless claims coming in higher than expected and Q1 unit labor costs coming in at 4.0% versus the estimated 4.9%. Investors will be watching tomorrow's non-farm payrolls report to provide further direction of yields. The crypto market is trading in line...

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