June Community Update
Archimedes Update — Our updates and ecosystem round-up monthly newsletter. Packed full of news about both the industry and our ecosystem.
Bitcoin and DeFi Industry Updates
- Bitcoin Reaches New All-Time Highs Bitcoin has been experiencing a significant rally, reaching new all-time highs in May 2024. The surge has been driven by the explosive growth of Bitcoin ETFs, particularly the BlackRock iShares Bitcoin Trust, which crossed the $10 billion mark in assets under management in just seven weeks. This rapid growth has fueled optimism that Bitcoin ETFs could eventually surpass gold ETFs in assets under management (The Block).
- Spot Bitcoin ETFs Surge The launch of multiple spot Bitcoin ETFs by major financial institutions like BlackRock, Fidelity, and Bitwise has greatly influenced the cryptocurrency market. These ETFs have seen substantial inflows, with BlackRock’s Bitcoin ETF amassing 250,000 BTC and Fidelity’s ETF crossing $10 billion in AUM. This surge in ETF popularity highlights increasing institutional interest and confidence in Bitcoin (CoinMarketCap).
- Expansion of Bitcoin DeFi Projects The Bitcoin ecosystem is expanding with new DeFi projects and Layer-2 solutions. Notable developments include the rise of BRC-20 tokens, which bring Ethereum-like fungible token functionality to Bitcoin, and the increasing use of the Lightning Network for faster and cheaper transactions. These innovations are transforming Bitcoin’s utility, making it a more versatile platform for decentralized finance applications (OKX).
Archimedes Ecosystem Updates
Product Launch and Testing
We are thrilled to announce that our product is ready for launch and is currently being tested in a live environment. This phase is crucial as we ensure everything runs smoothly and efficiently before the official release!
Spaces with Halborn
We will be hosting spaces with Halborn, one of the most trusted code auditors in the industry, after June 17th. This event will provide an exclusive opportunity to discuss our platform’s security and audit results. Attendees will have the chance to discover unique insights and get some of that sweet alpha before anyone else.
Zealy campaign concluded
Our long-running Zealy campaign has now concluded. Check out the winners on our Discord and what tasks they’ve gone through or simply take a peek at the graphic below. If you didn’t get the chance to participate in any of our Zealy events, make sure to subscribe to our Twitter as that will be the first place to get notified about new Zealy campaigns that we might be launching in the future.
Upcoming Agora
As always, the first Thursday of every month is dedicated to our public community call where we invite all of our community members to take an active part and have a say in how Archimedes is being run — through suggestions, questions and as always — through making sure they always get the latest Alpha before anyone else.
Stay tuned for more updates and join us as we continue to grow and innovate in the DeFi space!
Thank You for Your Support!
As always, we’re grateful for the enthusiasm and support from our community. Together, we’re building something truly special in the DeFi space. Remember, we’re always here to help and listen to your feedback.
Let’s continue to innovate and grow together as we navigate through this exciting period in the crypto world!
Stay connected,
The Archimedes Team
