The post Hottest Key Developments in Blockchain and DeFi appeared on BitcoinEthereumNews.com.

This week, major players in the blockchain and DeFi space unveiled strategic moves aimed at strengthening their ecosystems. Most importantly, Injective introduced the INJ 3.0 proposal which focuses on deflationary tokenomics. Secondly, Tether boosted its Bitcoin ($BTC) reserves with a $705 million acquisition. Thirdly, Binance launched the Solv Protocol for Bitcoin staking. 4th and 5th, Hyperliquid rolled out $HYPE staking on its mainnet, and OKX Ventures invested in Haedal to enhance Sui’s DeFi ecosystem. These initiatives mark significant steps towards innovation, growth, and sustainability in the crypto world. Keep reading because we are going to tell you more about these 5 shortlisted news pieces in this five minute-read article. Injective Proposes INJ 3.0 to Support Deflationary Tokenomics Injective, a leading blockchain for DeFi applications, has unveiled a governance proposal to launch INJ 3.0. The proposal aims to establish $INJ as a top deflationary asset in the crypto market. The plan includes enhanced token burn mechanisms, reduced circulating supply, and incentives for long-term staking, aligning with Injective’s mission to build a sustainable ecosystem. If approved, the deflationary model will roll out in phases, starting this year. Injective expects the initiative to benefit traders, developers, stakers, and ecosystem partners, fostering growth and innovation through 2025. Tether Acquires $705 Million in Bitcoin, Total Reserves Rise to $7.7 Billion Tether, the issuer of USDT, has purchased 7,629 BTC worth $705 million, raising its Bitcoin holdings to $7.7 billion. This move reinforces Bitcoin as a core reserve asset and aligns with Tether’s strategy of diversifying its reserves, which include cash and U.S. Treasury bills. The purchase, traced from Bitfinex’s hot wallet, highlights transparency and reflects Bitcoin’s growing role in Tether’s reserve framework. Analysts view this acquisition as a stabilizing force for Bitcoin amid market volatility and increasing institutional interest. By bolstering its reserves, Tether aims…

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Filed under: News - @ January 5, 2025 9:05 pm