When Zero Network announced it was shutting down last month, the reaction across crypto was weary: Another Ethereum layer-2 just bit the dust.The closure joined a growing list of struggling rollups and came amid renewed debate about whether Ethereum’s sprawling layer-2 ecosystem has become too crowded. At the same time, Ethereum creator Vitalik Buterin has urged developers to rethink the network’s long-term scaling roadmap, while several major projects have shifted away from marketing themselves as general-purpose blockchains and toward more focused applications in payments, stablecoins and tokenized assets.To many observers, the developments have revived a familiar question: Has Ethereum’s sprawling…

Stablecoin depegs are a recurring feature of crypto bear markets. And the latest candidate is apxUSD, the preferred equity-backed stablecoin of the Apyx protocol.As market leader bitcoin BTC$64,040.41 fell sharply in the past 24 hours, reaching lows under $63,000 at one point, apxUSD briefly slipped to as low as 93 cents, deviating from its 1:1 dollar peg, according to CoinMarketCap.apxUSD’s depeg. (CoinMarketCap)The stablecoin is primarily backed by preferred equity issued by digital asset treasury firms, specifically Strategy’s STRC shares, which carry a $100 par value.The protocol purchases those shares, collects the dividend they pay and distributes the yield to onchain…

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