Coinbasics Newsletter #2 : Big Positive Crypto News in a Long time.

1. Avalanche Outshines Lightning Network

Avalanche now has more Bitcoin on its network than the Lightning Network, with over 5700 Bitcoins bridged or ported over from the Bitcoin network to the Avalanche network. This is a testament to the power of DeFi, as the Bitcoin Lightning Network has been around for years, while Avalanche has only been around for six months. Users can convert their BTC to BC.B, which allows for seamless bridging between the two networks at a low cost.

2. Shiba Inu on the Rise

Shiba Inu is hoping to launch its layer 2 scaling network for Ethereum, called Shipl, soon. The developers plan to include a burn mechanism for SHIB tokens and upgrades to the infrastructure to make smaller transactions faster and to enable the development of decentralized apps. The token has already seen a 60% increase in price this year, showing that it's not just a meme coin.

3. Cardano Upgrades

The first big update for 2023 for Cardano is coming soon, with the launch of a software toolkit that will enable developers to deploy custom side chains for Cardano on the network. This toolkit has already been used to create a testnet for an Ethereum Virtual Machine compatible sidechain. The goal of this update is to drive mass adoption of the Cardano ecosystem and to create more interoperability with other networks.

4. China, Russia, and Australia Making Waves

The Chinese government is reportedly planning to issue its own digital currency, with trials set to begin in the coming months. In Russia, President Putin has signed a bill into law that recognizes digital financial assets and legally defines digital rights. The Australian government has announced plans to invest AUD 50 million in blockchain and distributed ledger technology over the next four years.

That's all for today, folks. Stay tuned for more web3 news and updates. And don't forget to drag this email into your primary inbox so you never miss an update.

DISCLAIMER: None of this is financial 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. Please be careful and do your own research.