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VeChain (VET) price rose 10% as Bitcoin spiked to briefly sit above $52k. The gains also came as the L1 smart contract platform announced Account Abstraction (AA) was now live. AA brings seamless interoperability and unlocks programmable smart contract wallets. VeChain ( VET ), the enterprise-grade L1 smart contract platform, has announced a major development in its blockchain ecosystem. Account Abstraction (AA) is live on VeChain, the platform said. VeChain debuts Account Abstraction By going live, AA brings programmable smart contract wallets to VeChain, putting the blockchain platform at the forefront of shaping the next step in global adoption of crypto. Account Abstraction (AA) is now live, opening up a whole new world for #VeChain. Not only does AA make interoperability seamless, but it also unlocks programmable smart contract wallets for a better user experience and improved security. Here’s what it means for $VET 🧵👇...

In the fourth quarter of 2023, Alchemy saw an unexpected surge in ERC-4337 smart contracts, creating over 960,000 account s. This explosion of interest underscores the zeal of app developers to tackle user experience challenges, per Alchemy’s report. Will Hennessy, Alchemy’s account abstraction lead, expressed his surprise, attributing the rapid adoption to the Ethereum Foundation’s deployment and developers’ eagerness to address user experience challenges. “The Ethereum Foundation just deployed ERC-4337 contracts in March 2023, so this early adoption is faster than expected,” he said via his personal X account. “It shows how hungry app developers are to solve [user experience] problems like gas sponsorship.” Account Abstraction was a HUGE narrative in 2023. Over 960,000 new ERC-4337 accounts were created in Q4, representing 53% of the total 1.8 million deployments to date. Let's look at how we did as an industry on other key m...

The ARB airdrop followed the sell-the-news narrative, but Arbitrum's Dapp use and fundamentals remain strong and smart money continues to buy ARB tokens. The Arbitrum token airdrop led to a massive dump of ARB tokens and projects in the Arbitrum ecosystem in a “sell-the-news” type of event. However, the Ethereum Layer-2 activity remains strong, with the selling pressure of ARB tokens likely done with, making the rollup well-positioned for further growth. Arbitrum ecosystem tokens sees sell-the-news type event The Arbitrum (ARB) airdrop was announced on March 16, which caused a significant uptrend in native token prices of Arbitrum ecosystem projects like GMX), Magic , Gains Network (GNS) and Radiant Network (RDNT). The primary reason behind the pump was the ARB airdrop catalyzing the Arbitrum ecosystem’s growth. However, according to a report from An Ape’s Prologue, “this thesis was seemingly front-run,” as the price surge mainly occurred between the period of the airdrop announc...