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Jupiter Soars by Nearly 100%, Leading This Week’s Crypto Gainers

Over the past week, bitcoin and ethereum faced declines, while a number of alternative cryptocurrencies enjoyed significant appreciation. Notably, JUP soared by 99.5% against the dollar, with WIF climbing 42% and SOL increasing 37% in the same period. Alternative Crypto Assets Outshine Bitcoin and Ethereum with Double-Digit Growth This…

Despite Broad Crypto Downturn, Solana Hits $200 Range and Overtakes BNB

Based on the latest metrics, the cryptocurrency landscape has experienced a widespread but modest downturn. Yet, the digital asset solana has risen by 12.2% in the last 24 hours and 43% against the U.S. dollar over the past week. Currently, solana surpassed the $200 mark per coin as it…

Avalanche Foundation Discloses First Batch of Meme Coin Holdings

The Avalanche Foundation has disclosed the first set of community coins, also called meme coins, in which the institution has invested under its $100 million Culture Catalyst fund launched in 2022. Coq inu, gecko, kimbo, nochill, and tech are the first five currencies that are part of the foundation’s…

Ethereum Rollups Start Reaping Dencun Benefits: 99% Fee Drops Reported in Some Cases

Ethereum rollups, the layer 2 scaling structures, have started reaping the benefits of the recently applied Dencun upgrade. The update, which included EIP-4844, also known as Proto-Danksharding, has allowed transaction fees to decrease by 99% in some cases, with Arbitrum, Base, Optimism, and Starknet becoming cheaper across the board.…

Stablecoin Sector Expands by $4.95B in 12 Days, USDE Sees 376% Supply Increase, Tether Hits $103B

In the past 12 days, the stablecoin sector has experienced a growth of $4.95 billion, reaching a new 2024 high of $149.03 billion in market valuation. Among various dollar-tied tokens that have seen their supply numbers go up over the last 30 days, Ethena’s USDE stands out with a…

Elon Musk Backs DOGE for Tesla Payments — Says ‘Dogecoin to the Moon’

Tesla and Spacex CEO Elon Musk has expressed that Tesla should enable dogecoin as a payment method for its vehicles “at some point.” He exclaimed, “Dogecoin to the moon,” as he explained his reason for backing the meme cryptocurrency. “Lots of rich people were supporting bitcoin … But people…

Israeli Crypto Firm Launches Pilot for First Shekel-Backed Stablecoin

Israel has taken a significant step in the cryptocurrency domain by green-lighting a pilot for BILS, the first stablecoin pegged to the New Israeli Shekel. Bits of Gold and Israeli Authority Launch BILS Stablecoin in Regulatory Sandbox The initiative, spearheaded by the crypto broker Bits of Gold in collaboration…

Tether Launches USDT on Celo Targeting Increased Usability

Tether, the company behind the issuance of USDT, the largest stablecoin in the cryptocurrency market, has announced the launch of its currency on Celo, an EVM-compatible blockchain. Paolo Ardoino, CEO of Tether, stated that this move was focused on enhancing the “usability and accessibility of Tether for millions of…

Despite Crypto Uptick, Paypal’s PYUSD Stays Quiet in the Top Ten Stablecoin Race

In the last day, the global trading volume has hit $203 billion, with stablecoins accounting for an impressive $133 billion of that total. Among the array of stablecoin assets tied to the U.S. dollar, Paypal’s PYUSD has emerged as a top ten player. Yet, despite the ongoing cryptocurrency market…

Performance of AI-Related Crypto Tokens Driven by News and ‘Memetic Speculation’ — Coinbase

Since the beginning of the last quarter of 2023, artificial intelligence (AI)-related crypto tokens have not only outperformed the top two crypto assets but have also outpaced key AI stocks such as Nvidia and Microsoft. According to a report by Coinbase, much of this market-beating performance of AI-related tokens…

Ethena’s USDE Yield Hits 67%, Outpacing Most Stablecoin Returns

According to the most recent figures, Ethena’s USDE now boasts an APY of 67.2%, positioning it among the top annual percentage rates within the realm of stablecoin decentralized finance (defi). Furthermore, the supply of this stablecoin has expanded significantly, increasing by 414.6% in the last 30 days. Rapid Growth…

FDUSD Climbs the Stablecoin Ladder, Fueled by Trading Volume and Supply Growth

Statistics indicate that the first digital usd (FDUSD), a recently introduced fiat-pegged token launched in August 2023, has risen to become the fourth-largest stablecoin based on market capitalization. Currently, FDUSD holds the fourth position in terms of 24-hour global trading volume. FDUSD Claims Fourth Spot Among Stablecoin Titans In…

Navigating the Wormhole Airdrop: Defi’s Next Big Token Drop Explained

Wormhole, a platform fostering blockchain interoperability within decentralized finance (defi), has unveiled plans for an airdrop of its proprietary token, W. The initiative is part of the protocol’s broader aim toward progressive decentralization, rewarding dedicated users and developers within the Wormhole ecosystem. Wormhole to Airdrop W Token to Advance…

Solana’s BODEN Token, Nodding to Joe Biden, Sees Major Uptick After TRUMP Coin Rally 

The digital asset known as maga (TRUMP) has experienced significant appreciation, while a newer cryptocurrency, jeo (BODEN), has seen its value skyrocket by 1,597%, as per data from coinmarketcap.com. In the last 24 hours alone, BODEN has witnessed trading volume amounting to $34.50 million on decentralized exchange platforms such…

Stablecoin Giant Tether Hits $100 Billion Market Cap Amidst Crypto Market’s Surge

As the cryptocurrency market swells to a valuation of $2.6 trillion, the leading stablecoin, tether, has achieved a market cap of $100 billion. Beginning from the start of 2024, tether has seen an addition of 8.27 billion tokens to its supply. From $300K to $100 Billion: Tether’s Meteoric Rise…

Stablecoin Sector Sees $3.26 Billion Growth Spurt; Tether Nears $100B Milestone, USDE Supply Swells by 374%

The stablecoin sector experienced a $3.26 billion expansion within the last eight days, climbing from $140.82 billion to $144.08 billion by Sunday, March 3, 2024. During February, increases in supply were observed in four of the top five stablecoins by market cap, with FDUSD’s supply growth leading amongst the…

Toncoin to Be at the Center of Telegram’s New Ad Monetization Strategy

Toncoin, a top 20 cryptocurrency project, will be used by Telegram, the messaging platform, as a payment tool for its new advertisement strategy. Pavel Durov, founder and CEO of Telegram, stated that toncoin would facilitate payments for customers of its advertising platform, announcing that it would share 50% of…

The Uphill Quest — Top Cryptos Face Significant Hurdles to Reclaim Peak Prices

As of Feb. 29, 2024, at 11:30 a.m. ET, bitcoin’s price stands a mere 9.5% shy of its record high of $69,044 per unit, achieved on Nov. 10, 2021. Below is an examination of several leading cryptocurrencies and their proximity to their historical peaks. The Herculean Task for Some…

Lighthouse Protocol Aims to End Wallet Draining Attacks on Solana

Lighthouse Protocol, an initiative that simulates transactions, aims to end the security problems derived from using unknown smart contracts in Solana. The project, which is currently in its testing stages and is projected to be included in more wallets this year, would avoid the execution of any movement that…

FLR and UNI Spearhead This Week’s Crypto Gains as Token Economy Holds Above $2 Trillion

In the last week, 23 cryptocurrencies experienced notable gains against the U.S. dollar, with flare (FLR) and uniswap (UNI) leading the charge. Concurrently, dymension (DYM) and helium (HNT) saw significant declines over the same period. FLR and UNI Lead Gains in a Diverse Week for Cryptos, Despite DYM and…

Grayscale Research Identifies Dencun Upgrade as ‘Coming of Age’ Event for Ethereum

Grayscale Research’s latest report explains that Ethereum is poised to take advantage of several tailwinds with its upcoming Dencun upgrade. Grayscale analyst Will Ogden states that, while Ethereum is facing increased competition from other chains like Solana, Dencun’s modularity focus will help it “come of age,” lowering transaction fees…

Stablecoin Market Jumps by Over $2.5 Billion in 10 Days, Led by Rise in Key Players

In the opening fortnight of February, the stablecoin domain expanded by $1.7 billion, marking a significant rise. The value of the fiat token crypto market has once again risen witnessing an increase exceeding $2.5 billion over the past ten days. Specifically, three stablecoins have driven this upswing, with the…

Stellar Debuts Smart Contracts With Protocol 20 Update

Stellar has announced the introduction of smart contracts as part of its Protocol 20 update, passed by a validator vote on Feb. 20. The upgrade introduces Soroban, the new smart contracts system, to mainnet, and initiates a phased rollout for validators to monitor the performance of these transactions before…

AI Crypto Assets Skyrocket With Over $10 Billion Added to the Sector in 17 Days

In the last 17 days, the value of artificial intelligence (AI) cryptocurrency assets has soared, with a significant addition of $10.21 billion to their overall market value. This surge aligns with the unveiling of Openai’s latest innovation, a generative AI-powered application capable of converting text into video. AI Cryptocurrency…

Stablecoin Sector Swells by $1.7 Billion in February; USDC and FDUSD Lead Supply Growth

Statistics reveal that since the onset of February 2024, the stablecoin sector has experienced a significant expansion, with an increase of $1.7 billion in its economy. In the last 30 days, both usd coin and first digital usd witnessed their supplies jump by 9.6% and 40.3%, respectively. The Dual-Edged…

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