Demex Daily #225: Grayscale Debuts Avalanche Trust for Crypto Investors

What’s Interesting Today:

Grayscale Investments has expanded its cryptocurrency offerings by launching a new trust for Avalanche (AVAX), which allows accredited investors to gain exposure to this digital asset. This new trust joins Grayscale's array of investment products, including their successful spot Bitcoin and Ethereum exchange-traded funds (ETFs) and various other trusts for different cryptocurrencies. The Avalanche network, on which AVAX operates, supports decentralized apps and asset tokenization, attracting attention from both developers and major financial firms. AVAX has recently seen a significant increase in its market value, outperforming other major cryptocurrencies.

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Near Protocol has successfully deployed the Nightshade 2.0 upgrade on its mainnet, enhancing its Layer 1 network with stateless validation and increasing transaction execution speed by 400%. This upgrade, part of a fundamental reworking of Near's sharded architecture, allows validators to process transactions more efficiently by retrieving necessary data directly from the chain. This change is expected to improve validator performance, reduce operational costs, and expand the network's shard capacity. The deployment marks a significant milestone in Near’s development, aiming to boost efficiency and scalability, akin to increasing the number of checkouts in a store to reduce congestion. Near's activity has surged, with transaction volumes and wallet creations rising significantly over the past year.

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