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Citizen Daily Brief

Kraken Joins L2 Fray ($)

gm Bankless Citizen, Coinbase's Base L2 has been one of the past year's big success stories. Can Kraken emulate Base's momentum with their own L2?
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Oct 24, 20243 min read
Kraken Joins L2 Fray
Published on Oct 24, 2024
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NEED TO KNOW
Base Eyes New Milestone
  1. 🔵 Fault Proofs Go Live on Base Mainnet Next Week. Base takes a big step towards full decentralization.
  2. 🤲 Michael Saylor Walks Back Bitcoin Custody Comments. After facing a wave of criticism, Saylor has 'clarified' his Bitcoin custody remarks.
  3. 🕸️ Chainlink Enters Bitcoin Ecosystem with Spiderchain Integration. Chainlink oracles are coming to Bitcoin thanks to a new integration with the Spiderchain L2.
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MARKET VIBES
Back Again

📸 Daily Market Snapshot: While bitcoin has already round-tripped most of yesterday's losses in trading today, ETH is still depressed with a more limited bounceback.

Prices as of 4pm ET 24hr 7d
Crypto $2.32T ↗ 2.3% ↗ 1.3%
BTC $68,259 ↗ 2.9% ↗ 2.0%
ETH $2,531 ↗ 1.1% ↘ 2.6%
APE $1.15 ↘ 5.2% ↗ 63.6%

🙈
New Token Rating: ApeCoin more than doubled over the weekend on the ApeChain launch, but token price has been fading out since Monday. Which way will APE break next?
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ANALYSIS
Unpacking Kraken's New Superchain L2 'Ink'
Bankless Author: Kazu Umemoto

One of the biggest trends in DeFi this past year has been the steady rise of Coinbase's Base network. But after surging into the pole position for L2s by total value locked (TVL), Base now has a pretty clear target on its back.

Kraken is ready to join the fray.

The centralized exchange is set to release a new rollup, "Ink," built on the OP Stack. Following the much-hyped announcement of Unichain, Kraken is now stepping into the growing Superchain ecosystem.

Let's dig into what Kraken is building with Ink, why they picked the Superchain, and how Ink plans to stand out in an increasingly jam-packed rollup ecosystem. 👇


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LATEST POD
Talking Kraken's 'Ink'

There's a new L2 on the block.

Optimism’s Ben Jones and Kraken’s Andrew Koller join us today to talk about Kraken’s latest release. Kraken is launching Ink, a blockchain built on the OP Stack, joining the Superchain to scale Ethereum.

Hear all of the analysis! 👇

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

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