Abstract, an Ethereum layer-2 blockchain focused on consumer applications, will shut down on December 15 after its parent company Igloo lost tens of millions of dollars funding it. Despite processing over 325 million transactions and hosting $6 billion in decentralized exchange trading, Abstract struggled with limited growth, low fee revenue, and thin trading markets. Users are urged to move their assets before the shutdown to avoid loss of access. This follows a similar shutdown by another Ethereum layer-2, Blast, highlighting challenges in sustaining such networks financially.
Abstract, an Ethereum layer-2 blockchain, is the subject of this news. For readers following cryptocurrency markets, here is Pluang's snapshot as of Oct 07, 2026 11:02 WIB: out of 50 major cryptocurrencies, 4 rose and 45 fell today. Notable movers include COTI at Rp233 with a 7.42% drop and 58% sell order activity, EGLD at Rp74,702 down 6.66%, and MANA at Rp1,747 down 6.23% with 71% buy order activity.
The Reserve Bank of India raised its key policy rate by 25 basis points to 5.5%, marking the first increase since 2023. This move aims to curb rising inflation, which has been increasing for 10 consecutive months and currently stands above the RBI's ...
US spot Bitcoin exchange-traded funds (ETFs) recorded a combined net inflow of $119 million on October 6, driven mainly by Blackrock's IBIT fund, which attracted $122 million—the largest daily inflow among these products. Morgan Stanley's MSBT follow...
U.S. spot Ether (ETH) ETFs experienced $202 million in net outflows on October 6, continuing a six-day streak of withdrawals. BlackRock’s ETHA fund accounted for the entire outflow, matching the total daily outflow across all Ether spot ETFs. Despite...
Cardano's CIP-0113 proposal introduces a new token standard that allows issuers to create programmable tokens with built-in transfer rules such as freezes, seizures, and forced transfers. This standard targets regulated assets and supports compliance...
Ether (ETH) traded near $2,610.05 with Binance's perpetual market showing a $9.64 million bid advantage over asks, the largest among major venues. Binance's perpetual book had $71.14 million in bids versus $61.50 million in asks, indicating strong bu...
