Mind The Block: Your Weekly Dose of Web3 News and Insights
Mind The Block Headlines This Week
Table of Contents
- Bitcoin Reclaims $66K Post-Halving
- Grayscale’s Mini Trust ETF: Lower Fees
- Biden Proposes Tax on Bitcoin Mining
- Transak Raises $20M in Series A
- Cryptocurrency: Essential for Democracy
- Xterio, Binance Labs Launch L2 Tech
- Solana Breaks $150, Market Optimistic
- What Are “Runes” in Bitcoin?
News
- Bitcoin reclaimed $66,000 after the fourth BTC halving event, while Ethereum saw modest gains.
- Outer Edge Riyadh has partnered with Transak, a Web3 app accessibility forum, to provide seamless crypto support.
- Solv Protocol has partnered with BNB Chain to launch SolvBTC on the BNB Chain.
- Canadian provinces Manitoba and British Columbia are implementing restrictions on crypto miners’ electricity service.
- Injective Protocol is voting on a proposal to significantly reshape its tokenomics and introduce Injective 3.0.
- Outer Edge Riyadh is set to host a summit in Saudi Arabia to discuss advancements in Web3, AI, and gaming ecosystem growth.
- Mina Blockchain is set for a significant upgrade, with the Berkeley release on June 4, 2024.
- EigenLayer may face a potential yield crisis due to its rapid growth in TVL.
- Bitcoin average transaction fees reached $100 for the first time on April 20, following the halving event.
- Woo X has launched the world’s first tokenized T-Bills for retail investors.
- Omni Armageddon, the first phase of its mainnet, has been launched, marking a significant milestone in the platform’s evolution.
- SubQuery Network fosters a decentralized future for decentralized applications (DApps) by providing a unified data infrastructure.
- Xumm developers have updated Xahau Signing to improve user experience and plot more updates to Ledger wallet.
Extras By Mind The Block
- Cronos has announced its integration with Galxe, launching its Spring Odyssey campaign, which will reward users with $35,000 in prizes.
- Lens Protocol has demonstrated sustainable monetization, with top creators earning up to $1,300 per month and $16,500 annually.
- Matter Labs is anticipating the announcement of the crypto ZKS airdrop, likely distributed to all contributors.
- Ivorypay has partnered with stablecoin issuer Tether to offer stable digital transactions to a wider audience across Africa.
- Scallop has secured a strategic partnership with DWF Labs.
- Neura, the innovative layer 1 blockchain by Ankr, has officially launched its public testnet.
- Bitcoin layer-2 solution Stacks has launched the Nakamoto upgrade.
- ZNS Connect has launched XLayer, a ZK-powered Layer 2 network that links the OKX and Ethereum communities.
- OG Labs has partnered with Pond, an AI-driven neural network, to offer its community members exclusive features.
- Ledger and MoonPay have expanded their partnership to include swaps, sell, and hardware wallets.
Major Companies Making Moves
- BlackRock advisor Paul Taylor has joined PairedWorld’s board after a $1.5 million funding round.
- The Qtum Foundation has deployed 10,000 Nvidia GPUs to support its AI Web3 revolution.
- Tether has issued $60 million worth of USDT on The Open Network.
- Telos Foundation andPonos Technology are partnering to develop an advanced Ethereum Layer 2 network.
- Grayscale has revealed 0.15% fees for its Bitcoin Mini Trust ETF, offering a more competitive option for GBTC investors.
- The Cardano Foundation has formed PRAGMA, an independent open-source association focusing on blockchain software projects.
Government, SEC & Regulation
- The Algorand Foundation has been appointed to the UK Parliament’s Blockchain Advisory Board, aiming to empower a global ecosystem.
- President Biden is urging Congress to impose a 30% excise tax on electricity used for Bitcoin mining.
- China has issued a warning to Angola citizens involved in crypto mining, emphasizing severe penalties for violating the law.
- The Markets in Crypto-Assets Regulation (MiCA) will transform the EU into a hub for crypto adoption in 2024.
- US presidential candidate Robert F. Kennedy Jr. proposes putting the entire US budget on a blockchain.
- Thailand’s SEC plans to block local access to unauthorized cryptocurrency platforms and ask local investors to withdraw their funds.
- The South African Reserve Bank has released a digital payments roadmap for 2025.
- Kenya is preparing to extradite Nadeem Anjarwalla, a Binance executive sought by the Nigerian government.
- SEC Chair Gary Gensler’s controversial social media post sparked rumors of his resignation.
- Venezuela is preparing to transition to cryptocurrencies as the US imposes oil sanctions on the country.
- Hong Kong Securities & Futures Professionals Association (HKSFPA) recommends establishing a self-regulatory committee within crypto firms to improve compliance monitoring.
Raises & Major Investments rounds
- Web3 payments startup Transak has raised $20 million in a Series A funding round led by CE Innovation Capital.
- Fjord Foundry raised over $15 million in its token pre-sale using the Liquidity Bootstrapping Pool (LBP) model on its launch platform.
- Web3 bug-bounty platform Immunefi has raised $24 million in its Series A funding round, raising its total to $29.5 million.
- Shiba Inu raised $12 million for a new layer-3 blockchain, secured through the sale of its upcoming token, TREAT.
- Ontology has announced a $10 million community investment to boost decentralized identity solutions.
Trends & Narrative
- Jeremy Allaire, CEO of Circle, discussed the growing importance of stablecoins in the global economy and their expansion.
- Base creator Jesse Pollak believes memes will be key to onboarding millions of users to his Coinbase-adjacent layer-2 network.
- Ethereum founder Vitalik Buterin discusses the privacy-focused ZCash project, proposing a merger with off-chain-governed RPGF rounds.
- Decentralized networks like Bitcoin have become a way to rebel against a broken system.
- Denelle Dixon believes that the success of blockchain protocols will depend on the ability of traditional finance to move value on- and off-chain.
NFTs, Gaming, Metaverse
- Xterio is partnering with Binance Labs to launch its L2 scaling tech.
- Manchester City has partnered with crypto exchange OKX to launch a limited edition Jersey NFT collection.
- Splinterlands has launched two new promotional cards, Baron Fyatt and Henchling Enforcer.
- Gelios has announced a strategic partnership with TREX20 to expand its ecosystem and create a comprehensive platform for NFTs.
- Square Enix and Animoca Brands Japan have partnered to expand Symbiogenesis.
- Louis Vuitton has partnered with Pharrell Williams to create a leather varsity jacket as part of its Via NFT project.
- Metable has launched its ‘Learn to Earn’ metaverse, a decentralized ecosystem built on the Polygon blockchain.
- Blur maintains the lead in the NFT marketplace, capturing a 27.6% market share in Q1 2024.
- Yuga Labs has sold HV-MTL and Otherside brands to Faraway, who now owns the IPs and most of the associated NFT collections.
Onchain Data
- Solana’s price surge has surpassed the $150 resistance mark, signaling market optimism for growth.
- XRP’s price experienced a bullish rebound after consolidation within the critical range of $0.46 to $0.50.
- Polkadot price experienced a 4% daily increase after consolidation near the $6 support level, indicating a bullish rebound.
- Dogecoin is currently consolidating after breaking out from a descending triangle, with analysts predicting a potential 500% surge in its value.
- Celestia (TIA) has experienced a rollercoaster ride, dropping to $7.5 after reaching a peak of nearly $16.
Educational Guides and Tips from Mind the Block
- Coinbase Staking vs. USDC Rewards: Which is Better?
- Learn how to easily transfer USDT to your MetaMask wallet and start using it on various decentralized applications (DApps).
- Who is Satoshi Nakamoto, The Creator of Bitcoin?
- What are “Runes” in Bitcoin? Why have BTC transactions suddenly become so expensive?
- Best Interest Rates: Stablecoins vs. Fiat Currencies.
See you in the next edition of the Mind The Block.
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