Today marks the launch of xExchange V3 on MultiversX's testnet, accompanied by a 'Battle of Yields' event running from August 5 to 7, allowing users to explore new features using mainnet balances.

Simultaneously, GRVT, a self-custodial centralized exchange on zkSync, is launching its open beta testnet today, attracting over 2.5 million users on the waitlist and offering token giveaways for participants.

In addition to these developments, Filecoin is set to implement a network upgrade called Waffle at epoch 4154640 on August 6, which aims to enhance network efficiency and functionality.

These updates are part of a broader trend in the crypto sector, where significant advancements are being made in both traditional and decentralized finance, with projects like MultiversX and Filecoin leading the way.

This week, the crypto market is also expecting over $50 million in token unlocks, including a notable release of 32.47 million IMX tokens valued at approximately $39.29 million on August 9.

Merchant Moe, a decentralized exchange on the Mantle Network, is planning to announce a tokenomics upgrade next week, aimed at reducing emissions and optimizing protocol fees.

In a significant move for Wall Street, Morgan Stanley is set to allow select clients to invest in Bitcoin exchange-traded funds (ETFs) starting August 7, including offerings from BlackRock and Fidelity.

This ETF initiative targets high-net-worth clients with a minimum of $1.5 million in assets, signaling a shift in how traditional financial institutions are engaging with digital assets.

The xExchange team has indicated that if testing proceeds without critical issues, the official V3 launch will follow the current event, although the EGLD token price remains stable at $23.70.