Ethereum surpasses $550 billion, Alchemy Pay partners with Reef, AILayer collaborates with 0XTrikon, and other Web3 news

Alchemy Pay has partnered with Reef to integrate a fiat-crypto on-ramp into the Reef platform, allowing users in 173 countries to easily purchase $REEF tokens and other digital assets using various payment methods. (📰BlockchainReporter)
AILayer has formed a strategic collaboration with 0XTrikon to enhance its Bitcoin Layer-2 network by implementing a chain abstraction interface that aims to improve user experience and resolve issues related to fragmented on-chain networks. (📰BlockchainReporter)
Ethereum’s market cap has surpassed $550 billion for the first time since 2021, driven by growth in DeFi and NFT markets, as well as anticipation of scalability upgrades, despite facing future challenges related to competition and scalability. (📰AInvest)