Abstract is a Layer-2 blockchain built on Ethereum, powered by zero-knowledge (ZK) cryptography, and specifically designed for consumer-focused applications. The project’s core goal is to make Web3 applications as intuitive, fast, and seamless as Web2 platforms while preserving Ethereum’s security and decentralization standards.

Abstract Philosophy

Abstract’s starting point is to eliminate the complexity that blockchain technology directly imposes on end users. The aim is for users to access decentralized applications without needing to know which network they are using, calculate gas, or store seed phrases. This approach is shaped around the concept of “chain abstraction.”

Chain abstraction means solving technical details at the infrastructure layer and presenting only the product experience to the user. Abstract aims to make this abstraction possible without compromising security and scalability. Thus, blockchain becomes not a technology for the user but an infrastructure running in the background.

How Does Abstract Infrastructure Work?

Abstract has a zk-rollup architecture operating on Ethereum. It uses the ZK Stack developed by zkSync and EigenDA for data availability in its infrastructure. With this structure, transactions are performed off the Ethereum mainnet, batched, and verified on Ethereum through zero-knowledge proofs.

This architecture offers three main advantages:

• Significant reduction in transaction fees
• High transaction capacity and fast confirmation times
• Preservation of Ethereum’s security and censorship resistance features

Additionally, Abstract is EVM compatible. This allows smart contracts developed for Ethereum to be ported to the Abstract network without major architectural changes. For developers, this means low migration costs and fast adaptation.

Native Account Abstraction: Redefining the Wallet Experience

One of the most important elements distinguishing Abstract from similar Layer-2 solutions is its native account abstraction approach. On the Abstract network, all user accounts operate as smart contract wallets by default. This structure elevates account abstraction from being an add-on or option to the protocol level.

Thanks to this architecture, users can:

• Use account recovery mechanisms
• Create multi-signature structures
• Set spending limits
• Pay gas fees with different tokens

All these features operate directly on-chain without needing external tools. The user experience gains a secure and flexible structure without creating a sense of technical complexity.

Abstract Global Wallet (AGW): Web3 Wallet with Web2 Comfort

Abstract Global Wallet (AGW) sits at the center of the user experience in the Abstract ecosystem. The primary goal of AGW is to eliminate the traditional wallet understanding based on browser extensions and seed phrases.

With AGW, users can:

• Email
• Social media accounts
• Passkey (keys supported by biometric authentication)

create wallets and log in through these methods. This approach offers a usage experience similar to Web2 applications.

AGW Security Structure

AGW uses Shamir’s Secret Sharing algorithm to ensure private key security. The user’s key is divided into three parts:

• One part is stored on the user’s device
• One part is held encrypted with the infrastructure provider
• The third part is stored in a backup area (such as iCloud or Google Drive)

Thanks to this design, secure recovery is possible in case of key loss. Any two parts are sufficient for regaining access to the wallet.

AGW creates an Externally Owned Account (EOA) in the background and deploys the smart contract wallet through this EOA. The user utilizes an advanced wallet infrastructure without being aware of this entire process.

Paymasters: Gas-Free Transaction Experience

Abstract enables users to perform transactions without paying gas fees through the Paymaster mechanism. In this model, decentralized applications can cover transaction fees on behalf of users.

This approach is particularly critical for games, social applications, and consumer-focused platforms. Users can use the application without dealing with steps like buying tokens, setting balances, or calculating gas. This is seen as an important threshold for the mass adoption of Web3.

Panoramic Governance: New Model in Revenue Sharing

Another notable innovation of Abstract is the Panoramic Governance mechanism. In traditional Layer-2 networks, chain revenues largely flow to the network operator, while applications and users cannot directly benefit from this value.

Panoramic Governance aims to eliminate this imbalance. Under the model:

• Applications receive a share of chain revenues proportional to the activity they provide to the ecosystem
• Users directly benefit from the network’s growth
• Governance participants are rewarded based on their contribution levels

Active Participation Threshold (APT)

APT is a filtering mechanism that ensures only users and protocols that truly contribute are rewarded. Metrics such as transaction count, gas usage, and on-chain interactions are evaluated. This structure does not encourage passive behavior and increases the system’s sustainability.

Abstract Bridge and Asset Transfer

Abstract offers asset transfer with the Ethereum mainnet through a native bridge. Through this bridge:

• ETH
• ERC-20 tokens

can be moved to the Abstract network. Approximate deposit time is 15 minutes, and withdrawal time is around 24 hours.

Abstract Badges: Activity-Based Digital Identity

Abstract Badges are digital badges that document users’ activities within the ecosystem. They are earned based on behaviors such as playing games, social interactions, or application usage.

These badges are expected to play an important role in reward mechanisms and potential airdrop processes in the future.

Abstract Ecosystem

Abstract is building an ecosystem that prioritizes entertainment and social use cases.

• Gaming: Pudgy World, Gigaverse, Onchain Heroes, Duper, RealGo
• Social and Entertainment: Gacha, Multiplier, Swipe, Zoo.fun
• DeFi and Trading: Magic Eden, Pandora Swap, Relay
• NFT and Cultural Projects: Canna Sapiens, Dented Feels, Holoworld AI

The Power Behind Abstract: Igloo Inc.

Abstract is developed by Igloo Inc., the company behind the Pudgy Penguins NFT project. In June 2024, the company integrated the Frame team into its structure, incorporating rollup development and creator economy expertise into the Abstract infrastructure.

Abstract Investors

Abstract has built a strong capital structure with support from investors of different profiles.

• Electric Capital (Venture)
• Igloo (Corporation)
• 0xMaki (Angel Investor)
• Luca Netz (Angel Investor)
• Ray Chan (Angel Investor)

Abstract Team

The Abstract team consists of experienced individuals in technical infrastructure, growth, and ecosystem development.

• Michael Lee – Co-Founder & CEO
• Hedge – Developer Relations
• Brian Hong – Growth Lead
• Phin – Marketing Lead
• Mason – Head of Ecosystem
• cygaar – Contributor
• Coffee – Contributor
• Logan – Contributor
• Jarrod Watts – Developer Relations
• Adrian – Business Operations Manager
• Abril Zucchi – Developer Relations

Official Links

• Website
• Whitepaper
• X (Twitter)

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The post What is Abstract Chain? appeared first on Coin Engineer.

BlackRock Expands Its Tokenization Footprint

Created in partnership with Securitize, the BUIDL Fund focuses on low-risk, high-liquidity assets such as U.S. Treasury bonds, cash, and repurchase agreements. BlackRock’s first deployment of the fund took place on Ethereum in March 2024, marking the firm’s entry into blockchain-based liquidity solutions. In November 2024, the fund expanded to Aptos, highlighting the growing confidence in non-Ethereum networks.

With the latest $500 million deployment, Aptos now ranks as the second most adopted network for BUIDL allocations after Ethereum — a clear sign that BlackRock’s tokenization strategy is diversifying across multiple ecosystems.

Aptos Rises in Global RWA Rankings

Following this capital inflow, Aptos’ total RWA value has surged to approximately $1.22 billion. According to recent data, Ethereum leads the market with $12.09 billion in tokenized assets, followed by ZKsync Era with $2.36 billion. Aptos now holds the third spot, ahead of Polygon ($1.13 billion) and Arbitrum ($904 million).

Aptos has described this achievement as part of its mission to become “the chain to move what matters.” Initially known for its role in the 2022–2023 Layer-1 competition, the project is now regaining prominence through growing institutional engagement.

Why RWAs Are Gaining Institutional Traction

Real-world asset tokenization (RWA) refers to the process of representing traditional financial instruments — such as bonds or securities — as digital tokens on blockchain networks. This approach provides faster settlement, enhanced transparency, and 24/7 liquidity for institutional participants.

The increasing involvement of firms like BlackRock underscores how traditional finance and blockchain infrastructure are converging. Tokenized treasuries and money market funds are becoming some of the most active areas in on-chain finance, representing trillions in potential value over the coming years.

A New Era for Aptos

For Aptos, the $500 million addition represents more than just capital — it’s a validation of trust. As major financial institutions diversify beyond Ethereum, Aptos is emerging as a scalable and secure alternative for tokenized finance.

With over $1.2 billion in RWAs, Aptos is positioning itself as a key player in the institutional blockchain economy, potentially driving the next phase of adoption where tokenized assets become a mainstream component of global finance.

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Crypto projects typically allocate tokens in advance for team members, early investors, or community funds. However, these tokens are usually locked for a certain period to prevent sudden selling pressure in the market.

Token Unlock Mechanisms: Cliff vs. Linear

The token unlocks in June will occur through two different methods:

• Cliff unlocks: A total of $1.4 billion worth of tokens will be released all at once.

• Linear unlocks: Around $1.9 billion worth of tokens will enter the market gradually over time.

Major Token Unlocks in June

One of the most notable events will be by Metars Genesis (MRS), an NFT-focused project. On June 21, it will unlock $193 million worth of tokens to support its partnership in artificial intelligence. Since March, MRS has been releasing 10 million tokens per month, bringing the total unlocked value to nearly $1 billion so far.

Another key unlock is scheduled by Sui. On June 1, 44 million SUI tokens worth approximately $160 million will be released. These tokens will be distributed among the Mysten Labs treasury, early contributors, and the community reserve. The largest portion, valued at over $70 million, is allocated to Series B investors.

To date, Sui has unlocked 3.3 billion tokens worth around $12 billion, representing roughly 33% of its total supply. There are still 5.22 billion tokens, valued at nearly $20 billion, without a confirmed release schedule.

Other Projects Unlocking Tokens in June

Several other projects are also set for significant unlocks in June:

• Fasttoken (FTN): 20 million tokens (approx. $88 million) allocated to the founding team.

• LayerZero (ZRO): 25 million tokens (worth $71 million) for core contributors and strategic partners.

• Aptos (APT): 11.31 million tokens (approx. $61 million) for the foundation, community, and investors.

• zkSync: Over 760 million tokens, worth about $49 million, will be released for the team and early investors.

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If $5.46 is broken with strong buying volume, the next target will be $5.61. A clean break above that zone could open the door for a rally toward the $6 level — a psychological and technical target that may trigger further bullish sentiment.

Support Levels to Watch

In case of a downward break below the trendline, the nearest support area will be the bullish Fair Value Gap (FVG) zone. This level could provide a strong base for a rebound if the price retraces.

How APT reacts at these resistance and support zones will help define its next directional move. Traders should watch for volume confirmation to assess the strength of any breakout or breakdown.

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From a technical perspective, APT’s price action remains uncertain. If it manages to hold above $5.50, bulls may regain control and drive the price higher. However, if this support is lost, downward momentum could accelerate, leading to a potential drop towards $5.

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Indicators suggest weakening momentum, with decreasing volume and bearish signals. The RSI (Relative Strength Index) is approaching neutral levels, while the MACD indicator is flashing a sell signal. This indicates that selling pressure may persist in the short term. However, if strong buying support emerges at this level, APT could rebound and target the $5.80 – $6.00 range.

Traders should closely monitor whether APT can hold above $5.50. If this level is lost, $5.20 and subsequently $5.00 will be key support levels to watch.

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Critical Level: $6.34 and the Downtrend Line

The most significant development for Aptos (APT) is the level just above $6.34. This point holds both the downtrend line and the FVG. If Aptos (APT) can hold this level, it could start a rally toward the upper order block targets. Closing above $6.34 could signal a new bullish phase for Aptos (APT).

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If Aptos (APT) reacts from the downtrend, the upward FVG just below will serve as an important support point. This support could help the price rebound. However, if the price remains below $6.34, further declines may follow. The $5.50 level would then act as a potential support.

If Aptos (APT) breaks above $6.34, it could target $7.00 and beyond. However, failure to break this level may lead to a pullback, and the $5.50 level could serve as a crucial support.

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Bitcoin Intraday Key Levels

The BTC/USD pair has gained 0.24% in the last 24 hours and is currently trading at $95,829. After losing the $98,331 support level, Bitcoin (BTC) continues its downtrend, with the resistance level for a potential rise at $98,331. Support levels are at $94,886 and $92,053.

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Ethereum (ETH): The ETH/USDT pair has gained 0.52% in the last 24 hours and is currently trading at $2,724. For ETH, the resistance levels are at $2,724, followed by $2,877. Support levels are at $2,532 and $2,366.

Aptos (APT): The APT/USDT pair has gained 13.70% in the last 24 hours and is currently trading at $6.31. The resistance level for APT is at $6.38, followed by $6.90. Support regions are at $5.54, with a further drop to $5.05 in case of deeper decline.

Litecoin (LTC): The LTC/USDT pair has gained 10.12% in the last 24 hours and is currently trading at $136.04. Resistance levels for LTC are at $141.23, followed by $146.35. Support regions are at $130.94, with deeper declines targeting $124.32.

MANTRA (OM): The OM/USDT pair has gained 4.61% in the last 24 hours and is currently trading at $7.5889. The resistance levels for OM are at $7.7499 and $8.2117. Support levels are at $7.3605, with a deeper drop targeting $7.0601.

Trending Coins

In the last 24 hours, the trending coins in the crypto market include Story (IP), Berachain (BERA), and Sonic (S). The top gainers in the market include Story (IP), Plume (PLUME), and Berachain (BERA). The most significant losers are Gigachad (GIGA), Virtuals Protocol (VIRTUAL), and Hyperliquid (HYPE).

Bitcoin Liquidation Map

Looking at the 12-hour liquidation map for Bitcoin, the noticeable liquidation at the top is at $96,314 with $33.91 million. On the downside, the $94,409 level also shows a liquidation of $33.91 million.

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Unlocking Events

A major event in February will be the unlocking of MELANIA, the official meme coin of Melania Trump, the First Lady of the United States. On February 20, 61.25 million MELANIA tokens will be released into circulation, which accounts for 40.81% of the total supply.

Another significant unlocking will occur with SUI. On the night of February 28 to March 1, 64.2 million SUI tokens, worth $260 million, will be released, representing 2.08% of the circulating supply.

Details of 19 Altcoin Unlocking Events

1. ENA: 40.6 million ENA tokens, valued at $30.1 million, will account for 1.34% of the circulating supply. Unlocking event on February 2.
2. XDC: 841 million XDC tokens, valued at $88.5 million, will account for 5.36% of the circulating supply. Unlocking event on February 5.
3. MOVE: 50 million MOVE tokens, valued at $36.9 million, will account for 2.17% of the circulating supply. Unlocking event on February 9.
4. APT: 11.3 million APT tokens, valued at $85.6 million, will account for 1.97% of the circulating supply. Unlocking event on February 10.
5. ATH: 630 million ATH tokens, valued at $33 million, will account for 10.21% of the circulating supply. Unlocking event on February 12.
6. SAND: 205.6 million SAND tokens, valued at $107.6 million, will account for 8.41% of the circulating supply. Unlocking event on February 14.
7. STRK: 64 million STRK tokens, valued at $22.3 million, will account for 2.48% of the circulating supply. Unlocking event on February 15.
8. SEI: 55.6 million SEI tokens, valued at $18.1 million, will account for 1.25% of the circulating supply. Unlocking event on February 15.
9. XCN: 296.4 million XCN tokens, valued at $9.8 million, will account for 0.91% of the circulating supply. Unlocking event on February 15.
10. AVAX: 1.67 million AVAX tokens, valued at $57.1 million, will account for 0.40% of the circulating supply. Unlocking event on February 16.
11. ARB: 92.7 million ARB tokens, valued at $58 million, will account for 2.13% of the circulating supply. Unlocking event on February 16.
12. APE: 15.6 million APE tokens, valued at $15.8 million, will account for 2.16% of the circulating supply. Unlocking event on February 17.
13. QAI: 0.57 million QAI tokens, valued at $50.6 million, will account for 11.66% of the circulating supply. Unlocking event on February 18.
14. MELANIA: 61.3 million MELANIA tokens, valued at $109 million, will account for 40.81% of the circulating supply. Unlocking event on February 20.
15. FTN: 20 million FTN tokens, valued at $78 million, will account for 4.66% of the circulating supply. Unlocking event on February 21.
16. MRS: 10 million MRS tokens, valued at $30 million, will account for 11.87% of the circulating supply. Unlocking event on February 21.
17. IMX: 24.5 million IMX tokens, valued at $27.5 million, will account for 1.41% of the circulating supply. Unlocking event on February 21.
18. OP: 31.3 million OP tokens, valued at $44.5 million, will account for 2.32% of the circulating supply. Unlocking event on February 28.
19. SUI: 64.2 million SUI tokens, valued at $260 million, will account for 2.08% of the circulating supply. Unlocking event on March 1.

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Bitcoin Intraday Key Levels

The BTC/USDT pair gained 2.74% in the last 24 hours and is currently trading at $101,412. Bitcoin (BTC) reacted strongly from the previously mentioned support level of $97,362, continuing its upward movement. If the rally persists, the next resistance level is at $103,608. On the downside, support levels are at $100,998 and $99,304.

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Ethereum (ETH): The ETH/USDT pair increased by 0.60% in the last 24 hours, currently trading at $3,651. For ETH, resistance levels are at $3,653 and later at $3,750. Support levels are located at $3,535 and $3,440.

Aptos (APT): The APT/USDT pair saw a 5.19% increase over the past day and is trading at $10.37. Resistance levels for APT are at $10.54 and then at $11.22, while support zones are $9.95 and $9.69 in case of further declines.

Maker (MKR): The MKR/USDT pair gained 2.47% in the last 24 hours and is currently trading at $1,613. Resistance levels for MKR are at $1,649 and $1,708, with support zones at $1,598 and $1,559 in case of a deeper pullback.

EOS (EOS): The EOS/USDT pair rose 1.74% in the past 24 hours and is trading at $0.925. Resistance levels for EOS are at $0.957 and later at $1.01, with support zones at $0.884 and $0.815 for further declines.

Trending Coins

The top trending coins in the last 24 hours include PHNIX (PHNIX), Vector Smart Gas (VSG), and ai16z (AI16Z).
Top gainers are Akuma Inu (AKUMA), Swarms (SWARMS), and WEMIX (WEMIX).
Meanwhile, the biggest losers are Sonic (S), ACT I The AI Prophecy (ACT), and AI Rig Complex (ARC).

Bitcoin Liquidation Map

Looking at Bitcoin’s 12-hour liquidation map:

• A significant liquidation at $102,751 stands out on the upper side, totaling $25.76M.
• On the lower side, $100,678 shows a notable liquidation of $22.05M.

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Senator Tim Scott and Representative French Hill wrote to Treasury Secretary Janet Yellen on December 31st, requesting a comprehensive congressional briefing on the cyberattack. They asked for this briefing to be delivered by January 10th.

Details of the Request

Scott and Hill expressed concerns over the contents of the information accessed by the hackers, how the attack occurred, and what measures the Treasury is taking to prevent similar incidents in the future. They stated:

“This breach of federal government information is extremely concerning.”

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“Treasury Department holds highly sensitive information, such as taxpayer data, business ownership details, and suspicious transaction reports. Protecting this data from foreign adversaries who wish to harm the United States should be a top priority.”

It was emphasized that the breach by a China Communist Party (CCP)-supported advanced persistent threat (APT) actor into Treasury’s information systems was unacceptable and raised serious questions about federal government protocols for protecting sensitive information.

First Treasury Department Statement

On December 2, 2024, it was reported that the threat actors accessed non-classified documents on Treasury employees’ computers.

Treasury officials confirmed that the attack was carried out by a China state-backed APT actor, and further details will be provided in an additional report under the Federal Information Security Modernization Act within 30 days.

China denied the attack, with a statement to Reuters: “We absolutely reject the baseless attacks by the US targeting China.”

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