Franklin Templeton is closely tracking several emerging areas within the Bitcoin ecosystem.
The investment firm is particularly interested in advancements following the approval of Bitcoin ETFs earlier this year.
They are focusing on Bitcoin’s layer-2 solutions, which aim to enhance scalability and transaction speed; yield strategies, which could impact how Bitcoin generates returns; ordinals, which allow users to attach digital data like images to individual units of Bitcoin, effectively creating NFTs on the network; and the OP_CAT proposal, a feature that could simplify transactions and enable more complex smart contracts by expanding Bitcoin’s scripting capabilities.
In addition, Franklin Templeton is keeping a close watch on developments within the Ethereum network.
They are excited about innovations such as parallel execution, which promises to improve transaction processing efficiency, and new yield mechanisms that could optimize returns.
The firm is also interested in alternative data availability solutions designed to ensure that blockchain data remains accessible and reliable, and “blobs,” which are dedicated data storage spaces intended to lower transaction fees.
These initiatives reflect the firm’s broader strategy of investing in blockchain technologies that could significantly impact the future of digital finance.
The price of Bitcoin (BTC) saw a significant drop, falling over 9% and dropping below $53,000 for the first time in over a month late Friday evening.
According to Sergey Bezdelov, director of the Industrial Mining Association, approximately 54,000 Bitcoin (BTC) tokens worth about $3 billion were mined in Russia in 2023.
This week has been bearish for the crypto market and Friday was no exception. Today, Bitcoin and most altcoins experienced significant declines, following the U.S. jobs report.
Thursday’s crypto market witnessed a significant shake-up, with $100 million in liquidations recorded in just one day, primarily impacting long positions.