Google Cloud has joined EigenLayer’s “Operator Working Group” alongside more than 65 other operators and solo stakers, a representative for EigenLabs, the developer behind EigenLayer, told Blockworks. 

Google Cloud Web3 now appears as a node operator on the Goerli testnet for EigenLayer — a restaking protocol that lets ether (ETH) be staked on multiple platforms at once. Google Cloud confirmed the cloud computing service’s participation in EigenLayer’s testnet in an email to Blockworks. 

Google Cloud declined to comment on whether it has plans to move to EigenLayer’s mainnet or if the protocol would be added to Google Cloud’s Blockchain Node Engine.

EigenLabs also…

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Binance coin and XRP, two of the largest cryptocurrencies on the market, are diverging.

Only $2 billion separates BNB and XRP’s market caps — now $35.7 billion to $33.2 billion. 

That puts XRP squarely in flipping distance: If BNB stays flat, XRP could firmly eclipse it with just an 8% price rally.

The two were way further apart at the start of the year. BNB’s market cap was more than double XRP’s back then — long before Changpeng Zhao’s forced resignation as CEO of Binance last week.

In fact, XRP briefly flipped BNB in July when a US federal court ruled Ripple’s XRP sales to retail weren’t securities. The news ballooned its price by 75% and once again made XRP the…

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Bitcoin (BTC) exchange-traded products (ETPs) registered $312 million in inflows for the week of Nov. 24, bringing year-to-date inflows to around $1.5 billion, according to CoinShares. The weekly inflows for all cryptocurrencies totalled $346 million, continuing a nine-week trend of positive net flows.

New record of inflows with US$346m this week, the highest total observed in the past 9 weeks of inflows.

– #Bitcoin –$BTC: US$312m inflows (year-to-date inflows US$1.5bn)Short Bitcoin: US$0.9m outflows

ETP volumes as a percentage of total spot Bitcoin volumes… pic.twitter.com/gMUPzTy0q4

— CoinShares (@CoinSharesCo) November 27, 2023

Crypto ETPs experience inflows when their shares…

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IBM announced the completed installation of a 127-qubit quantum computing system at the University of Tokyo on Nov. 27. According to the company, this marks the arrival of the first “utility-scale” quantum system in the region. 

[Article] The University of Tokyo Completes Installation of 127-Qubit IBM Quantum Eagle Processorhttps://t.co/TrFAnEQ3wq

— UTokyo | 東京大学 (@UTokyo_News_en) November 27, 2023

The system, dubbed a “Quantum System One” by IBM and featuring the company’s Eagle processor, was installed as part of an ongoing research partnership between Japan and IBM. According to a blog post from IBM, it will be used to conduct research in various fields including…

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What happened: On Sunday a total of 5,198.18 Ether ETH/USD worth $10,456,441, based on the current value of Ethereum at time of publication ($2,011.56), was burned from Ethereum transactions. Burning is when a coin or token is sent to an unusable wallet to remove it from circulation.

Why it matters: On August 5th, 2021, the Ethereum blockchain implemented an important upgrade known as EIP-1159. This Ethereum improvement proposal changed the fee model drastically. Now each transaction includes a variable base fee that adjusts according to the current demand for block space. This base fee is burned, or permanently removed from circulation, lowering the supply of Ether forever.

See Also: How…

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In 2021, it seemed as if 10 new Disneys — and the next 20 Picassos — were emerging from blockchain and various nonfungible token (NFT) collections.

Exorbitant NFT values that year signaled strong belief in many projects. But two years later, those “next Disneys” have delivered little. The situation has created significant market frustration and disillusionment among investors and enthusiasts alike.

Project failures are often attributed to founders. Yet, the greed, anxiety, and irrationality prevalent among Web3 participants have also played a substantial role in the ecosystem.

Related: 3 theses that will drive Ethereum and Bitcoin in the next bull market

We’re in a complex…

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Richard Teng, Binance’s former global head of regional markets and now CEO, announced his intention to drive growth at the crypto exchange following Changpeng “CZ” Zhao stepping down.

In a Nov. 27 blog post, Teng said he had the support of CZ and Binance’s leadership following the former CEO’s departure as part of an agreement with United States officials. According to Teng, Binance planned to continue a user-focused approach to its business and “drive growth and the adoption of Web3,” assuring customers they would hear more from him soon.

“I am eager to jump headfirst into my new role and know there will be many more opportunities for me to share my thoughts with the…

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