Overview

This report focuses on key developments in the blockchain industry from November 11 to November 15. Several projects, including public blockchains, GameFi, and DeSci, have recently made significant progress. In particular, the public blockchain ecosystem has shown outstanding performance, with breakthrough developments in Solana, Base, and ZetaChain. Additionally, the Robinhood platform has relisted many mainstream cryptocurrencies, and Bio Protocol has completed a round of financing, highlighting the overall market enthusiasm. These advancements and the competitive landscape indicate that blockchain technology shows promising growth potential in GameFi, DeSci, and public blockchain sectors, offering users more innovative applications.

Projects

Solana’s Market Share Reaches Record High of 3.82%

Solana’s recent market performance has been remarkable. TradingView data shows that on November 8, its market capitalization reached 3.82% of the total cryptocurrency market—a new record high. This growth reflects surging confidence in the Solana ecosystem, particularly as its DEX, lending, and staking projects garner significant attention. Many tokens within the ecosystem are also performing exceptionally well. Solana has further benefited from increased institutional investor interest in meme coins, boosting its trading volume and market share. This impressive growth underscores Solana’s strong position in the competitive crypto market and signals its potential for continued expansion. [1]

Immutable Introduces Pre-Approved Transaction for Seamless In-Game Transactions

Immutable has introduced a Passport pre-approved transaction feature to simplify blockchain transactions within games. Immutable ensures a secure and controlled trading environment by issuing assets in collaboration with gaming projects. In the future, this feature will gradually support mainstream assets like IMX, USDC, and ETH, offering players more transaction choices and driving deeper integration between the gaming industry and blockchain technology.

Immutable Passport’s pre-approved transaction feature revolutionizes the Web3 gaming experience. Seamlessly embedding blockchain transactions into gameplay eliminates the need for frequent wallet switching, dramatically enhancing immersion and fluidity. This groundbreaking innovation prolongs gaming sessions and acts as a magnet for players and developers alike, drawing them into the Web3 gaming realm. Immutable’s strategic move bolsters its industry standing while propelling the entire Web3 gaming sector forward. [2]

Base TVL Surpasses $3 Billion, Setting a New Record

Base’s Total Value Locked (TVL) has hit a new milestone, exceeding $3 billion for the first time, with a 24-hour trading volume of $1.44 billion. The network’s low transaction fees, high throughput, and Ethereum ecosystem compatibility have drawn in a significant user and developer base. The top five protocols by TVL on Base are the DEX Aerodrome, Uniswap, and lending protocols Morpho Blue, Aave, and Moonwell. [3]

ZetaChain Partners with Google Cloud to Accelerate Universal Blockchain and Web3 Innovation

On November 12, ZetaChain announced a partnership with Google Cloud to harness its Web3 verification services, securing the “universal blockchain” platform and propelling Web3 development and innovation. This collaboration marks a new era for ZetaChain, with Google Cloud as a validator to ensure secure operations for both the mainnet and testnet. ZetaChain also plans to delegate 1,000,000 ZETA tokens to Google Cloud’s validator, bolstering the blockchain ecosystem’s scalability. Furthermore, this partnership will grant developers access to Google Cloud’s Web3 startup program, providing cloud resources to fuel the creation of decentralized applications (dApps).

This collaboration underscores ZetaChain’s commitment to cross-chain interoperability and highlights Google Cloud’s burgeoning influence in the Web3 realm. While this strategic partnership promises to accelerate dApp development and drive blockchain adoption, it also sparks debates about decentralization. The involvement of a major cloud provider like Google Cloud raises concerns about the potential impact of blockchain’s decentralized nature. Nevertheless, ZetaChain’s vision of creating an ecosystem that seamlessly connects all blockchains for broader interoperability remains steadfast. Collaboration with Google Cloud will undoubtedly equip developers with a powerful infrastructure to advance Web3 technology. [4]

BIO Protocol Completes Community Fundraising, Raising a Total of $15.8 Million

BIO Protocol (BIO), an innovative protocol leveraging blockchain technology, aims to streamline funding for early-stage scientific research projects. BIO can be seen as the “Y Combinator” for on-chain science, enabling global scientists, patients, and investors to collaboratively fund, develop, and co-own new drugs and therapies through its decentralized autonomous organizations (BioDAOs) network in biotechnology. BIO’s approach addresses structural issues in traditional research funding, particularly in rare diseases, longevity research, and emerging health challenges. The BIO network currently comprises seven BioDAOs focused on various areas, including cryopreservation, women’s, and mental health.

BIO Protocol has completed the Genesis Round 2.5 community token financing, with the BIO Genesis Auction raising a total of $15.8 million. The funds will help expand the BioDAO ecosystem, providing seed funding for new BioDAOs and building a more robust network of service providers supported by community and token economics. This aligns with BIO’s vision of creating autonomous infrastructure for science funding and acceleration powered by AI, drug design, and open-source computational biology advances.

DeSci is an emerging field that lowers barriers to individual participation, facilitating easier access to and sharing scientific information without traditional organizational constraints. Beyond BioDAOs, other decentralized autonomous organizations such as Antidote DAO, VitaDAO, and CRISPR DAO are also venturing into uncharted territories in life sciences. [5]

Robinhood Re-Lists Solana, Cardano, and Ripple in the U.S. and Adds PEPE

In June 2023, Robinhood delisted SOL, ADA, and XRP after the U.S. Securities and Exchange Commission (SEC) classified these tokens as unregistered securities in its lawsuits against major crypto exchanges like Binance and Coinbase. This classification led to regulatory uncertainty, prompting Robinhood to remove these assets to mitigate potential legal risks.

The decision to relist these cryptocurrencies and add the meme coin PEPE likely stems from:

• Regulatory Environment: With recent political changes (Trump’s victory), the market anticipates a more crypto-friendly regulatory landscape. This shift may have bolstered Robinhood’s confidence in reintroducing previously delisted assets.
• User Demand: Robinhood’s decision is largely driven by user requests for a wider range of digital assets. By relisting these popular tokens, the platform aims to better meet its users’ expectations and needs.
  As a compliance-focused platform for U.S. securities trading, Robinhood now has over 15.9 million active users. By relisting SOL, ADA, and XRP, Robinhood demonstrates its ambition to increase competitiveness in the crypto market, meeting user demand while providing U.S. users with more accessible ways to invest in crypto assets, which is bullish for the market. [6]

Notice
Users should exercise caution when participating, be mindful of risks, and conduct thorough research before involvement. Gate.io does not guarantee the future development of projects.


References：

1. TradingView, https://www.tradingview.com/symbols/SOL.D/
2. Immutable, https://www.immutable.com/blog/seamless-gaming-arrives-immutable-introduces-pre-approved-transactions
3. DefiLlama, https://defillama.com/chain/Base
4. X, https://x.com/zetablockchain/status/1856337115547627705
5. X, https://x.com/bioprotocol/status/1855457989429444970
6. X, https://x.com/RobinhoodApp/status/1856702329703285115

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