Ndax Weekly TL;DR Dec 8

• Cardano Plans Quiet Protocol Upgrade and Governance Overhaul
• Ethereum Charts Post-Fusaka Roadmap Focused on Scaling
• Stronger-than-expected November jobs report dims prospects for near-term BoC rate cuts

Cardano is preparing a “no new era” hard fork, known as Protocol Version 11, that aims to tighten ledger rules and address operational risks exposed by a November incident in which a malformed delegation transaction briefly split the chain into two valid histories. The upgrade, which will remain within the current Conway era, focuses on stricter validation logic, refinements to Plutus scripts, and performance improvements such as new cryptographic primitives that could lower costs for complex DeFi transactions. In parallel, founder Charles Hoskinson has proposed a “Pentad” structure to coordinate five key ecosystem entities—the Cardano Foundation, Emurgo, Input Output Global, the Midnight Foundation, and Intersect—around shared growth targets, including support for core infrastructure, priority dapps, and formal KPIs tied to network usage and total value locked. CryptoSlate

Ethereum’s Fusaka upgrade introduces PeerDAS to expand data availability for Layer 2 networks, but core developers, including Vitalik Buterin, say it represents only a first step toward the network’s long-term scaling goals. While Fusaka increases data capacity and lowers costs for rollups, it does not yet raise base-layer execution throughput or resolve centralization risks tied to large block builders. The next planned upgrade is expected to include enshrined proposer-builder separation and block-level access lists to formalize the block-building market and improve state access efficiency, paving the way for future parallelization. CryptoSlate

Canada added 53,600 jobs in November and the unemployment rate unexpectedly fell to 6.5%, marking a third straight month of stronger-than-forecast hiring and reducing expectations for any near-term Bank of Canada rate cuts. Economists noted, however, that all the gains came from part-time positions while full-time employment declined, and that a lower participation rate helped push the jobless rate down. Even so, the report was materially stronger than anticipated and supports the view that the BoC’s easing cycle has likely ended, despite signs of underlying labour-market softness. Yahoo Finance

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News Nuggets

• US prosecutors seek 12-year prison sentence for Terraform co-founder Do Kwon Cointelegraph
• Ethereum experiences temporary 25% validator participation drop after Prysm client bug  Cointelegraph
• 15-year-old Satoshi-era miner wallet moves 50 BTC as miners face record-low margins Beincrypto
• U.S. spot Bitcoin ETFs record $195M in outflows, the largest withdrawal in two weeks The Block
• European authorities dismantle multinational crypto fraud network tied to more than €700 million in illicit flows crypto news
• KRW1, South Korea’s KRW-backed VRCA, launches on Polygon with live proof-of-reserves crypto news
• Strategy CEO says company will keep accumulating Bitcoin and views selling as a last resort crypto news

As of 12-08-2025 at 9:40 AM EST

Market Summary

• Over the past seven days, the global cryptocurrency market capitalization has increased from CA$4.07 trillion to CA$4.29 trillion.
• Bitcoin's market dominance stands at 58.6%, while Ethereum's share is 12.2%. 

Performance

• Over the past 24 hours, the price of BTC has fluctuated between CA$124K and CA$127K registering a 5.45% change over the past week and a market cap of CA$2.5 trillion. At Ndax, the weekly movers are MOODENG, which saw a 33.55% increase in the last seven days reaching a market cap of CA$398 million, and FARTCOIN, which experienced a 32.65% rise with a market cap of CA$552 million. (At time of writing) 
   

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• Dec 10 – Canada Interest Rate Decision   
• Dec 10 – US Interest Rate Decision
• Dec 11 – US initial Jobless Claims Announcement 

This week’s blog explains how to give crypto as a gift during the holiday season. It covers how the Ndax gifting feature works, the types of cryptocurrencies you can send, and what recipients can expect when they receive a gift. To learn more, click here.

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