Yuga Labs will restructure, expecting to result in team members’ layoffs.

Company Co-Founder and CEO Greg Solano presented a company memo announcing the restructuring. In his statement, he called today “tough.”

gm, really tough day today. I am hellbent on transforming yuga and getting us back to our roots, and that means making hard decisions. by far the hardest is saying goodbye to some talented team members. here was my message to the team this morning. pic.twitter.com/gBkoNf2iK3

— Garga.eth (Greg Solano) 🍌 (@CryptoGarga) April 26, 2024

“I am hellbent on transforming Yuga and getting us back to our roots, and that means making hard decisions.”

Greg Solano, Yuga Labs Co-Founder and CEO

In a message to the team, Solano noted that Yuga Labs had lost its way and that it intends to create a smaller, more flexible, and crypto-focused team with the restructuring.

“The creative-first spirit that dove this company from inception has been getting muddied by labyrinthine corporate processes. We work hard and we care but somehow end up with groups and committees. We plan more than we ship.”

Greg Solano, Yuga Labs Co-Founder and CEO

Solano noted that some of the company’s plans have already begun to be implemented. Yuga’s CEO stated that Farawaygg, the web3 game development firm that Yuga used to develop its Dookey Dash game and which recently acquired web3 games HV-MTL and Legends of the Mara, will allow Yuga to focus on creating 3D Otherside games.

On Feb. 21, Solano thanked former Yuga CEO Daniel Alegre and announced that he would take over his post. In the message, he added that he is “reinvigorated to be taking the reins for our next chapter” in the startup’s story.

In October 2023, Yuga Labs announced it was laying off employees from its U.S. team as part of a broader restructuring. The company decided to focus its force on developing Otherside, a gaming metaverse.

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Pro-crypto lawyer John Deaton will file an amicus brief in support of Coinbase’s motion for an interlocutory appeal.

According to Fox News reporter Eleanor Terrett, Deaton will file an amicus brief today, April 26.

🚨SCOOP: Massachusetts Senate candidate @DeatonforSenate/@JohnEDeaton1 is putting his #crypto law hat back on and will file an amicus brief in support of @Coinbase’s motion for interlocutory appeal later today.In the brief, Deaton highlights the urgent need for legal clarity…

— Eleanor Terrett (@EleanorTerrett) April 26, 2024

In the review, Deaton highlights the urgent need for legal clarity regarding digital assets, highlighting the U.S. SEC’s inconsistent approach to regulation and its detrimental impact on industry participants.

As evidence, the lawyer cites court cases such as Ripple, LBRY, and Telegram, as well as previous SEC statements on cryptocurrency and letters from various regulators and legislators expressing concerns about the regulator’s actions, Terrett noted.

Deaton criticized the SEC’s lack of consistency, including its changing stance on whether crypto tokens are themselves securities.

“Bitcoin is certainly distinguishable from other cryptocurrencies but claiming it’s not a security unlike other tokens because it doesn’t have an ecosystem, is just plain dumb.”

John Deaton, pro-crypto lawyer and Massachusetts Senate candidate

Deaton has been involved in cryptocurrency-related lawsuits, including filing a 2021 petition challenging the SEC’s lawsuit against Ripple, a security. Deaton announced his candidacy for the U.S. Senate earlier this year and criticized SEC Chairman Gary Gensler’s handling of the crypto industry.

Coinbase filed an appeal in two courts in April to challenge part of its ongoing litigation with the SEC. The company asked a higher court to consider whether a digital asset transaction that does not impose any obligations to the original issuer of the asset should be considered an investment contract, which would be regulated by the SEC.

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Nearly a week after the halving, Bitcoin Runes have achieved a milestone as observers and participants alike deliberate over the impacts of the new standard. 

According to a Dune Analytics dashboard, the Runes protocol on Bitcoin (BTC) has raked in $135 million in transaction fees on the cryptocurrency’s largest blockchain. On-chain data showed that tokens issued under the standard generated more than 2,100 BTC costs within a week. 

Runes fee data | Source: Dune Analytics, Cryptokoryo

Casey Rodarmor, the same mind behind the Ordinals protocol, developed Bitcoin Runes to improve the BRC-20 standard, which is touted to bootstrap defi on BTC’s network. 

Runes allows users to execute more efficient transactions and mint better-optimized tokens on BTC by tapping BTC’s UTXO format. The concept launched during the halving and has become a source of on-chain BTC activity ever since. 

Per Bitcoin Wallet Unisat, users have minted nearly 11,000 Runes, a flurry of blockchain participation that skyrocketed BTC gas fees shortly after the halving. However, fees have retraced in the days after Bitcoin’s quadrennial code switch, which cut block mining rewards by 50%.

You might also like: Surge in Bitcoin transaction fees linked to meme coin, Runes etching craze

Analysts: Bitcoin Runes may benefit network long-term

Shipped at a block height of 840,000, Bitcoin Runes initially caused a surge in BTC transaction costs, but analysts do not expect this effect to remain in the long run. Bitcoin researcher Jade ARdinals shared with crypto.news that the additional load on BTC’s network was only caused by the token creation aspect, otherwise known as minting. 

The researcher explained that speculation around Runes triggered mass minting, adding an “artificial” burden on BTC block space. Analysts believe this pressure will subside but maintain that the Runes standard will attract more developers to Bitcoin. 

“Speaking broadly, the adoption of Runes has a generally positive long-term impact on the network, and the hype around their minting through airdrops will fade as the most sought-after tokens launched during the halving are minted out.”

Jade ARdinals on Runes

Runes have already captured a chunk of BTC’s on-chain activity. Crypto Koryo’s Dune dashboard reported that Runes tokens accounted for 45% of all Bitcoin transactions on April 25. 

Read more: CryptoQuant says miners maintain pre-halving pace despite upgrade

In a recent interview, Kinto co-founder and CEO Ramon Recuero shared insights on various aspects surrounding real-world assets, shedding light on potential impacts.

In the realm of institutional investments, the concept of real-world assets (RWAs) has been gaining traction, prompting discussions on its future trajectory during influential market events like the recent Bitcoin halving.

Regarding the impact of the halving on RWA investments, Recuero emphasized that while there might not be a direct effect, historical patterns suggest an indirect correlation.

“The halving has traditionally preceded the hype season of every cycle, increasing focus, attention, and capital directed at the space,” he said.

Recuero highlighted Maker DAO as a notable player, attributing its longevity and prominence in the space. Additionally, he mentioned other successful assets such as Backed, Centrifuge, Mountain Protocol, and the BUIDL fund by Blackrock, signifying a diverse landscape of winning ventures within the RWA sphere.

You might also like: Vitalik Buterin backs ETH PoS transition amid PoW debate

Recuero expressed a cautious outlook regarding a timeline for mainstream adoption of RWAs, estimating a timeframe spanning years to a decade. The Kinto CEO elaborated on the current predominant use case around access to tokenized U.S. treasuries, citing products like the BUIDL fund, Mountain USDM, and Maker as facilitators of on-chain access to short-term treasury bills.

However, Recuero noted that broader applications like home equity loans or tokenized equities may necessitate a more protracted adoption period.

Recuero anticipated short-term attention and flowed towards ETFs by institutional entities because of the recent halving, with a more substantial impact over the medium-to-long term.

“The halving affects supply at the margin, and it should create the base for the next bull market,” he said, indicating a structural shift in market dynamics with potential ramifications for various investment vehicles.

Recuero’s insights provide a nuanced perspective on the evolving landscape of RWAs, navigating the intersections of market cycles, institutional interests, and technological innovation.

As RWAs continue to garner attention and investment, the journey toward mainstream adoption remains a dynamic narrative shaped by diverse factors and stakeholders.

Read more: Franklin Templeton enables P2P transfers for $380m tokenized treasury fund

During the recent meme coin boom, a trader has reportedly made over $26 million in profits trading tokens on Solana.

According to Lookonchain analysts, on Nov. 11, 2023, paulo.sol noticed the increase in the price of Bonk (BONK) and invested in the asset. While engaged in swing trading, the trader earned about $6.28 million from price fluctuations.

What a legend!😱paulo.sol has realized profits of $9.51M on $WIF , $7.04M on $boden and $6.28M on $BONK .1/ Let's dig into his trades to see what he's buying.👇 pic.twitter.com/2axUwHb3el

— Lookonchain (@lookonchain) April 26, 2024

The user then started buying and trading Dogwifhat (WIF) on Dec. 4, 2023, followed by Jeo Boden (BODEN) in March. Both times were moments when meme coins began to rise sharply.

In total, paulo.sol earned a profit of $9.51 million and $7.04 million on the two coins trading at higher prices. Currently, the trader holds positions in BODEN for $7.6 million and in WIF for $5.7 million.

On the back of these gains, the trader has continued to add new coins to their collection. The crypto trader also recently purchased 9.3 million in Popcat, valued at $4.9 million, becoming the second-largest holder of the token.

You might also like: Token2049 panelists discuss meme coins’ role in crypto industry development

Crypto analyst Zia ul Haque praised the trader for his bold and effective maneuvers. According to him, the trader is not just lucky but conducted a thorough analysis of the crypto market’s movements.

Don't call him lucky, he has more conviction than others. Do research

— Zia ul Haque (@ImZiaulHaque) April 26, 2024

Despite gains such as these, crypto experts have urged traders to be careful when investing in meme coins on Solana. According to on-chain analyst ZachXBT, more than 40% of projects in the Solana ecosystem stopped further development a month after the presale.

The expert studied 27 projects that raised more than 655,000 SOL during the token pre-sale, 12 of which were found to be related to fraud.

You might also like: Surge in Bitcoin transaction fees linked to meme coin, Runes etching craze

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

One of the hottest meme coin presales to set tongues wagging right now is the WienerAI ICO. In little more than 5 days, more than $350,000 has been invested into this new project.

So why all the hype? Let’s find out.

WienerAI is a dog-themed meme token that is set to take the world by storm. Due to its artificial intelligence infrastructure, WienerAI has been built in order to facilitate any potential upgrades in the future making the coin extremely flexible and appealing to a border audience.

Generous staking rewards

Anyone who buys the WAI token with Ethereum has the chance to stake the tokens for passive income. Record token sales this week show that staking is one of the biggest attractions of the WienerAI project.

The 13.8 billion WAI tokens that have been reserved for staking rewards will be distributed over 2 years. 

At 3938 WAI tokens allocated for every Ethereum block processed, the estimated annual staking rewards are calculated at 1881%. This makes the project extremely attractive for anyone looking to get their investment working.

You might also like: Token2049 panelists discuss meme coins’ role in crypto industry development

WAI tokenomics

The native coin of the WienerAI project is WAI, and 69 billion tokens have been pre-minted in anticipation of high demand. Of the total token supply, 20% (13.8 billion) has been reserved for staking rewards, while another 20% has been earmarked for ongoing marketing purposes, with a final 20% reserved for community building. 

A further 10% have been held back to aid liquidity in the forthcoming DEX listing. Finally, 30% (20.7 billion) of the total token supply has been reserved for the ongoing presale and is available for purchase.

The presale is proving to be extremely popular and is selling out fast. Once you have made your purchase, your tokens will be air-dropped to you at the end of the presale. 

The WienerAI token presale is generating a lot of hype across the crypto community, with many influencers excited about the project.

The WienerAI presale allows buyers to purchase their $WAI tokens at a much lower price than the anticipated DEX listing price, meaning you have the chance to make a significant return on a speculative early investment.

There are several presale stages, each lasting two days, after which the price you pay for your WAI tokens increases. With the current price of $0.0007, there has never been a better time to buy.

If WienerAI can emulate the success of other dog-themed meme coins such as BONK or DOGE, then an early investment could prove very profitable.

You might also like: Memecoin developers rugpulled over $26m in pre-sales on Solana amid March’s craze

WienerAI roadmap

The WienerAI marketing strategy adheres to a comprehensive roadmap that has been written to keep the $WAI token community informed. 

The first stage involves a professional, smart contract audit conducted by Coinsult, the launch of the presale, and a worldwide marketing campaign.

The second stage sees the token receive a software upgrade and the takeover of the Ethereum meme coin market while the third and final stage is the listing of WAI on leading cryptocurrency exchanges such as Binance and OKX.

How to buy WAI

To get your hands on your very own WAI tokens, simply head to the official website and connect your wallet. You can choose to use Metamask, Wallet Connect, Best Wallet, or Coinbase Wallet.

Make sure you have enough crypto to cover your purchase. The presale accepts BNB, ETH, MATIC, and USDT, or if you don’t own any crypto, a debit or credit card can be used.

Choose how many tokens you wish to purchase and click ok to complete the transaction. Your tokens will be reserved and air-dropped to you once the token presale ends.

To learn more about this project, visit the WienerAI presale website or join the community via Twitter   Telegram.

Read more: A16z crypto CTO slams memecoins, say they paint ‘risky casino’ narrative

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Arguably the contemporary face of meme coin culture, Pepe has displayed relentless strength since its 2023 inception.

However, competition is heating up in the meme coin domain, so is Pepe still a buy? We answer this question today in our Pepe price prediction.

Pepe could outperform the market in 2024

Pepe has displayed relative strength against almost every major crypto asset since its 2023 launch. 

It is currently priced at $0.000007394, up 3% today and 49% this week but down 9% this month. It holds a $3.1 billion market cap and a $1.2 billion 24-hour trading volume.

Its market cap positions it as the 36th largest crypto, but its trading volume places it in the 11th spot, reflecting a keen market interest.

You might also like: Traders think Slothana could be the next big Solana meme coin

Pepe experienced 10x gains from its 2024 lows to its highs but subsequently retracted, retesting two key support levels forged on its ascent.

But following the support retests, it has displayed impressive strength, recovering over 50% of its selloff.

Based on this momentum and its exceptionally high trading volume, we could expect Pepe’s uptrend to prevail in the coming weeks.

The Pepe price chart above shows Fibonacci levels at $0.000015 and $0.000022, which could be the next resistance zones for the frog-themed meme coin.

When discussing Pepe’s strength compared to other meme coins, renowned trader Bluntz said, “Of all the major meme coins, Pepe looks the best. It has already cleared and reclaimed the (a) wave lows after turbo V reversing from the major 0.618 Fibonacci level.

Max Schwartzman, CEO of Because Bitcoin, also backs Pepe for continued bullish momentum.

“You can learn as much (if not more) from a rejection at a key level as you can from a breakout. No one enjoys a pullback, but they are necessary & healthy,” explained the analyst.

He continued, “After breaking out of a multi-month re-accumulation, Pepe tagged the 1.618 Fib extension. The good news here is that since the 1.618 is officially confirmed as valid and in play, the 2.618 and 3.618 are also valid and in play. 

I’m very bullish. I still expect multiples X’s to be accomplished over the next couple of quarters.”

Indeed, Pepe’s decisive recovery, combined with support from top industry experts, sets a bullish precedent for its future. However, analysts are also backing the new meme coin Slothana as a top gainer after it raised $15 million at presale.

You might also like: Slothana token set for DEX listing next week – next Solana meme coin to explode?

Slothana raises $15m; dwarfs Pepe

With a whopping $15 million invested into its presale, Slothana has struck a chord with profit-hungry degens hoping for similar success to other Solana presales like Book of Meme and Slerf.

The two projects soared exponentially after launching on exchanges, with BOME hitting a $1 billion market cap in two days and Slerf receiving coverage in Bloomberg and eclipsing Ethereum in trading volume.

But despite its laid-back nature, Slothana has out-maneuvered both of these projects in terms of presale total raises, raising over $15 million compared to BOME’s $2 million and Slerf’s $10 million.

While this reflects the immense market support behind Slothana, it’s not the only thing driving its hype.

Traders speculate that the anonymous Slothana team is the same crew that pioneered Smog. This uber-successful Solana meme coin soared over 100x to a $270 million market cap in February. 

And this is more than social media hearsay. Beady-eyed sleuths have spotted an undeniable connection between the teams, with Smog replying to Slothana’s first-ever X post when it had less than 50 followers.

With this in mind, Slothana looks primed to break more records and enjoy an explosive IEO. However, the presale ends in just three days, so potential investors must act quickly.

To learn more about this project, visit the Slothana presale website. 

Read more: Bonk, Dogwifhat down; Analyst says Slothana could 10x as presale ends in 3 days

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Vitalik Buterin responded to reports of Ethereum community members bemoaning the switch from the old proof-of-work model to a proof-of-stake consensus. 

Amanda Cassatt, founder, and CEO of web3 marketing studio Serotonin, tweeted that several Ethereum (ETH) proponents were dissatisfied with the network’s current state. Cassatt stressed that the views were not personal and the posts mirrored conversations she was privy to.

The crypto founder also listed reasons opinionated by some community members. 

“Been interesting to notice a lot of Ethereum community members privately expressing the wish that it had stuck with pow instead of transitioning to PoS.”

Amanda Cassatt, Serotonin Founder and CEO

Also 3. Being connected to the real world, so the price of energy to power mining factors into the network

— amanda.eth (@amandacassatt) April 26, 2024

Ethereum co-creator Vitalik Buterin chimed into the conversation, highlighting that the proof of work (PoW) design held drawbacks that misaligned with the network’s long-term vision. 

PoW was also quite centralized. It was just not talked about as much, because everyone knew it was only a temporary stage until PoS.And that doesn't even get into how we probably mostly avoided ASICs only because the upcoming PoS switch meant no incentive to build them. pic.twitter.com/OhaqmRiiGJ

— vitalik.eth (@VitalikButerin) April 26, 2024

You might also like: Vitalik Buterin reveals 6 main focuses for Ethereum in 2024

Since its genesis block in July 2015, crypto’s second-largest blockchain, Ethereum, adopted a PoW consensus mechanism similar to Bitcoin (BTC). Miners were key players under this model, contributing to network security and ETH emissions to allow new tokens to enter circulation. 

This changed after “The Merge” in September 2022 when Ethereum moved to a proof-of-stake (PoS) infrastructure, replacing miners with stakers in a massive technological overhaul. 

Due to the PoS transition, proponents were divided. Some decried a switch in ETH’s fundamental ethos, while a group led by Chinese miner Chandler Guo even banded together to maintain a version of Ethereum’s PoW chain. 

The initiative dissolved its core team to adopt complete autonomy, but the project struggled to gain traction. As of April 26, the ETHW native cryptocurrency changed hands under $4 per CoinMarketCap. 

ETHW price chart | Source: CoinMarketCap

On the other hand, Ethereum’s main PoS chain has seen skyrocketing validator numbers and staking demand. Crypto.news reported in February that more than 25% of ETH circulating supplied has been locked away to secure the network and earn yield for participants.

Vitalik Buterin has also shared various proposals to decentralize staking further and simplify Ethereum’s PoS model.

Read more: Vitalik Buterin reveals details on next Ethereum update

BNY Mellon, the world’s largest custodian bank and the oldest in the U.S., has recently disclosed its investment in Bitcoin ETFs.

According to an SEC filing, the bank is exposed to BTC ETFs offered by BlackRock and Grayscale, underscoring the growing institutional interest in cryptocurrencies.

The U.S. SEC’s approval of 11 spot Bitcoin ETFs earlier this year marked a significant milestone for American crypto investors. This decision came after prolonged investor demand for such financial instruments.

ETF anticipation and subsequent approval triggered a surge in the crypto market, propelling BTC to a new all-time high of $73,737 in March. The demand for Bitcoin (BTC) ETF exposure reflects a broader trend of institutional investors warming up to the emerging asset class.

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Hong Kong’s financial authorities have approved spot Bitcoin and Ethereum ETFs, which are scheduled to commence trading on April 30. The approval signals the global acceptance and integration of cryptocurrencies into traditional financial markets.

CoinCodex predicts that Bitcoin will reach a new peak of $84,412 on May 25, possibly fueled by the launch of Hong Kong’s BTC ETF. Should the U.S. follow suit and approve a spot Ethereum ETF, it could ignite another significant rally in the crypto market, particularly for Ethereum.

Currently trading at a considerable discount from its November 2021 all-time high, Ethereum (ETH) stands to benefit from further institutional adoption.

Read more: BlackRock’s Bitcoin ETF sees $217m outflow

Ripple has switched its on-demand liquidity services for U.S. customers from XRP to Tether’s USDT stablecoin.

This follows a court ruling last year that found institutional sales of XRP tokens violated U.S. security laws. Consequently, Ripple has engaged entities outside the U.S. to facilitate sales of XRP to on-demand liquidity (ODL) clients, with U.S. clients now using USDT as a bridge currency for transactions.

Ok Matt. Didn’t have time yesterday but given that you were kind enough to cover this issue on YouTube I have followed up on the point you made about Ripple not having ODL customers and operating through overseas subsidiaries, in response to my concern that a wide injunction can… https://t.co/Lt2OflA9K6 pic.twitter.com/QmymbOEATV

— bill morgan (@Belisarius2020) April 26, 2024

Moon Lambo, an XRP YouTuber, claims that Monica Long, President of Ripple, emphasizes swift compliance with legal restrictions while ensuring uninterrupted ODL services for U.S. customers.

Ripple President Monica Long says they don't have any ODL customers. According to Ripple's latest filing, a Singaporean subsidiary has ODL customers using $XRP , but Ripple itself does not. Would an injunction to stop's Ripple's ODL apply to Singaporean subsidiary? If not, then as…

— Moon Lambo (@MoonLamboio) April 25, 2024

The YouTuber also stated that Ripple’s Singapore subsidiary is now the primary counterparty for XRP sales, indicating a strategic shift toward companies outside the U.S. to circumvent legal hurdles.

Additionally, internal communications revealed that Ripple has introduced minimum asset requirements for ODL clients with a threshold of $5 million to ensure financial sustainability. Exceptions are made for sophisticated organizations, reflecting Ripple’s commitment to protecting end customers in the face of regulatory challenges.

Moon Lambo also suggests that ODL transactions can continue unimpeded as long as they do not involve U.S. jurisdiction.

Following the SEC order in 2021, Ripple has taken steps to transition every ODL customer in the U.S. from using XRP to an intermediary currency, in this case, USDT. Last year, Ripple introduced a requirement that all ODL clients must have assets worth at least $5 million unless they are large financial institutions.

You might also like: Ripple asks court to reject SEC’s $2b claims

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Amid a bustling Bitcoin market, a bullish XRP prediction and rising interest in KangaMoon contrast with Solana’s disappointing price drop.

With the current Bitcoin rush in the market, a prominent analyst’s recent XRP prediction has made headlines, suggesting that XRP could reach the $10 level. Similarly, another altcoin—KangaMoon (KANG) is gaining significant traction attracting whale’s attention.

In fact, experts are dropping huge projections on KANG, suggesting that it could become the next $1 altcoin of 2024. On the other hand, Solana’s sudden price drop disappoints investors.

You might also like: Crypto coins to consider ahead of Bitcoin halving: TRX, SOL, KangaMoon

Armando Pantoja’s bullish XRP price prediction

After riding a bullish wave, XRP’s price is experiencing a downturn. CoinMarketCap data reports that the price of XRP declined from $0.61 to $0.50 in the past week alone. During the same period, its market capitalization rose by 2% to reach $27.39B. Additionally, XRP’s 24-hour trading volume is witnessing a staggering over 50% outflow, reflecting low trading activities.

Amid all these bearish sentiments, crypto analyst Armando Pantoja is bullish about XRP, suggesting that the coin could trade between the $10-$20 levels soon. XRP technical analysis outlines a bullish trend, with 27 indicators flashing green. The XRP crypto is also trading above its 100—and 200-day EMAs. Thus, experts have made bullish price predictions for XRP, suggesting that the XRP price could reach $0.81 by 2024.

You might also like: Altcoin Sherpa remains bullish for BTC, while Dogwifhat, KangaMoon surge

Solana price downtrend influenced by bearish markets

Meanwhile, Solana (SOL) has experienced a significant price drop attributed to the overall bearish market. Over the past 30 days, Solana price witnessed a decline from $181 to $143, a staggering 20% outflow. Similarly, its 24-hour trading volume dropped by 43%, suggesting low trading activity on the network. In any case, the altcoin’s market capitalization rose by 2% to reach approximately $63.83B, according to CoinMarketCap.

The sudden drop has disappointed investors who had hoped the price of Solana would rise ahead of the BTC halving event. The sudden Solana price drop has resulted in the liquidation of $36.55m worth of traders’ long positions. Despite this, traders remain optimistic, considering the current price drop as a good opportunity to buy the dip.

You might also like: Analyst: $1.70 breakout for Cardano; KangaMoon presale heats up as Solana dips

KangaMoon shows strong presale activities

KangaMoon has been making headlines, with its 5th presale stage having accumulated over $5m. Being a unique altcoin, KangaMoon intends to become a top altcoin in 2024 by breaking the $1 price mark once listed among the tier-1 crypto exchange platforms. KangaMoon is currently on track to hit $7 million by the end of April.

Unlike most memecoins, KangaMoon has managed to stand out as it offers actual utility. With KangaMoon tokens, players can easily upgrade their gaming characters and purchase in-game assets in the upcoming KangaMoon play-to-ear game. The platform also intends to provide the KANG holders with different weekly, monthly, and even quarterly challenges so as to obtain more tokens.

Additionally, the platform’s unique approach, which is community-driven, is quite outstanding. With such an approach, KangaMoon will allow its most active users to acquire free KANGs even before its launch. With more than 20,000 registered members, KangaMoon aims to ensure a high social media presence, as members will be rewarded for posting and sharing KangaMoon’s social media content.

KangaMoon currently has a price tag of just $0.196, which is an impressive surge from the previous price of just $0.005. However, its link to the P2E gaming market, which is projected to reach $885 million by 2028, gives it a better chance of rising by up to 50x.

You might also like: Cardano’s Chang hard fork sparks interest; eCash and KangaMoon to top charts in 2024

Conclusion

While the likes of XRP and Solana might have a better advantage over KangaMoon, this altcoin still has what it takes to be listed among the top altcoins of 2024. Investors should, therefore, consider taking advantage and invest, given that early investors are already enjoying a 290% ROI.

To learn more about Kangamoon, visit the website or join the Telegram community. 

Read more: Altcoins under $1 that could see a massive surge: Cardano, Tron, KangaMoon

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

The spot Bitcoin ETF sector is again in the red zone, experiencing a capital outflow of $217 million on April 25.

According to SoSo Value, funds did not move in five ETFs, including BlackRock’s iShares Bitcoin Trust ETF (IBIT). This is the second day in a row that the BlackRock fund has not recorded an inflow of capital.

Source: SoSo Value

In addition to the Grayscale Bitcoin Trust ETF (GBTC), outflows were recorded in four ETFs, including the one from Fidelity Investments and ARK Invest/21Shares.

Despite the latest trend, IBIT was among the top 10 ETFs with a long period of uninterrupted capital inflows. However, since the beginning of March 2024, capital inflows into the fund have declined.

Source: SoSo Value

The average volume of capital inflows into spot Bitcoin ETFs has also slowed significantly in recent weeks. Bitwise CEO Hunter Horsley says many institutional players in the market are still secretly preparing for large infusions of funds into crypto-based instruments.

Horsley is convinced that spreading a new class of digital assets will help the crypto market become even more attractive to investors.

By the end of 2024, people are going to be stunned by how many wealth management firms own a bitcoin ETF. They’re smart, many extremely well informed, and increasingly share conviction on Bitcoin. Oh, and they’re long only. Going to be an amazing new constituent in the…

— Hunter Horsley (@HHorsley) April 20, 2024

Recently, investor interest in cryptocurrency-based products has weakened. Over the past week, $206 million was withdrawn from crypto products for large professional investors, CoinShares analysts have noted.

You might also like: Spot Ethereum ETFs reportedly facing potential SEC denial

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

DeeStream emerges as a leading presale opportunity, enticing Chainlink and Cosmos investors with its potential for huge gains.

Chainlink was undoubtedly one of the stars in the last Bitcoin halving and bull market of 2020 and 2021, as was Cosmos. However, the narrative is changing in 2024 and 2025, and Chainlink and Cosmos are yesterday’s news. Neither is expected to retest their 2021 all-time highs in the next bull run, much less turn in anywhere remotely close to a 100x. In short, they have already peaked.

The action, instead, is squarely focusing on low-cap gems that haven’t mooned yet. One of the most promising presale investment opportunities is DeeStream, which investment analysts predict has the potential to generate a huge gain in the next bull market. 

You might also like: DeeStream attracts interest from AVAX, XRP fans amid Bitcoin halving

Is Chainlink past its prime?

Chainlink hit all-time highs of $55 in 2021, becoming a lottery ticket for investors who bought in when LINK token prices were sub-$1—or better yet, when it was still in its presale phase. However, fast forward to 2024, and Chainlink has become one of the worst laggards among the top 20 cryptocurrencies by market cap, dumping heavily each time it appears to begin to rally.

Since then, LINK has been minting lower yearly highs and much lower lows in the past 3 years. Currently, LINK trades at a lackluster $15, struggling to break out even past $20.

You might also like: Dogecoin, TRON, whales join DeeStream’s presale frenzy for potentially big returns

Cosmos begins long road back to $10

Not too long ago, Cosmos and its native token ATOM were riding high off the Bitcoin halving speculation, trading at $14 in mid-March until trading back down to the $12 range at the beginning of April.

However, ATOM prices took a nosedive all the way down to $7.40 in the past week, losing nearly 40% of its value in a week’s time. ATOM has clawed back all its gains in the past 12 months. Currently, ATOM trades at $8.50, attempting to rally back to the $10 range.

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Chainlink and Cosmos holders among early DeeStream investors

Chainlink and Cosmos holders are streaming into one of the hottest presale investment opportunities of 2024: DeeStream. DeeStream is building the first and only viable contender to centralized live streaming platforms like YouTube, Twitch, Kick, and TikTok, enabling content creators to engage their audiences and earn more from their content creation efforts.

DeeStream is building the next-generation infrastructure for decentralized video streaming, while opening up a world of financial incentives and income streams for content creators and users alike with its DST token. 

Currently, DST is available at $0.066 per token, making it the perfect presale investment opportunity for investors looking for the rare 100x gain. Prospective investors need to act fast, because stage 2 of DeeStream’s presale is on pace for a sellout. 

To learn more, visit the DeeStream website.

Read more: NEM, BTC holders eye returns as ETH plunge leads to DeeStream interest 

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Mega Dice’s ICO surges to $500k, signaling strong investor confidence and setting the stage for potential market dominance akin to Rollbit.

The world of crypto gambling is witnessing something of a renaissance right now. At the center of this decentralized whirlwind is Mega Dice (DICE) which is an established crypto casino platform that has recently launched its very own token presale. 

In little more than 2 weeks, the Mega Dice token presale has raised more than $500,000 from eager early investors looking to generate returns.

You might also like: Mega Dice Casino launches DICE token, surpasses $500K in presale

Presale results driven by accessibility and utility

It has to be said that the Mega Dice presale has exceeded all expectations so far and surpassed its initial targets with ease. One of the core drivers behind the token’s success is the user-friendly nature of the Mega Dice platform.

In order to participate in the presale interested investors simply have to connect their preferred crypto wallet, choose whether to use ETH, BNB, or Sol, and click ok to complete their purchase of the native token DICE.

Once the presale ends, the team behind the Mega Dice platform aims to list the DICE token on leading centralized exchanges such as Binance and OKX in a bid to further boost its visibility and potential price appreciation.

However, impressive presale numbers are also backed up by community hype which has been generated by a number of lucrative airdrops. As you might have already heard, Mega Dice has sidelined a massive $2.25 million to be used as airdrop rewards over a three-season-long promotional campaign. 

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Lucrative airdrops and player perks fuel community hype

While season 1 has $750,000 reserved for players who wager a minimum of $5,000, players who continue to bet through the presale and beyond have a chance to receive a share of the $1.5 million prize pool in seasons 2 and 3.

This is proving to be a great way to incentivize players and has gone some way to account for the $500,000 raised in the past 2 weeks alone. What’s more, the benefits offered by the platform extend beyond airdrops. By staking DICE tokens users can also be in line to receive a share of the casino’s profits as passive income. 

Furthermore, limited edition NFTs are attracting some serious attention alongside a healthy 25% referral commission program for those who enroll their friends. Such strong Mega Dice promotions have certainly caught the attention of crypto influencers.

As the ongoing presale continues to generate attention, it must be said that the Mega Dice platform is something of an established name in the world of crypto gambling. With more than 50,000 members, the Mega Dice platform has over 10,000 active players generating more than $50 million in monthly revenue.

One of the great attractions of the Mega Dice token presale is the fact that the native token DICE is already used on the platform as a form of in-house currency. Players at the casino can waive fees by using the DICE token to gamble and each time they use the token, they are rewarded with more. This token utility is what is making demand for the DICE token so high.

You might also like: Crypto casino ‘Mega Dice’ launches DICE presale; Raises $300K

Mega Dice aims to become the next Rollbit

By looking to capitalize on its operational experience, robust product, online reputation, and forward-thinking and ambitious management team, Mega Dice is looking to become a major player in the GameFi and GambleFi spaces.

Whether Mega Dice has the potential to become the next Rollbit, only time will tell. That said, Mega Dice’s combination of established brand presence, feature-rich product offering, and impressive presale performance make it a GambleFi token to keep a very close eye on over the coming weeks.

To keep up to date on all the latest news, users can follow the project on X and join the exclusive Telegram channel.

To learn more, visit the Mega Dice Token Presale.

Read more: Bitcoin halving will bring mass adoption to web3 gaming | Opinion

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

U.S. senators Elizabeth Warren and Bill Cassidy have urged the Department of Justice (DOJ) and Department of Homeland Security (DHS) to double down on their efforts to combat crypto use in the market for child sex abuse material (CSAM).

In a letter of grave concern to Attorney General Merrick Garland and Secretary of Homeland Security Alejandro Mayorkas, the US senators have specifically requested the DOJ and DHS to transparently disclose their technical capacity to counter the use of cryptocurrencies in the CSAM market.

“Existing Anti-Money Laundering (AML) rules and law enforcement methods face challenges in effectively detecting and preventing these crimes,” the letter read.

The senators cited research from analytics firm Chainalysis as a foundation for their concern. The 2024 report indicated an increase in cryptocurrency use for CSAM trades. Bad actors allegedly use cryptocurrency “mixers” and “privacy coins” like Monero to launder funds while making it hard for law enforcement to track.

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“The pseudonymity provided by cryptocurrency has allowed the payments for CSAM to “move quickly into the crypto world,” and we are committed to ensuring that Congress and the Administration have the full suite of tools needed to end CSAM and punish sellers of this Material.”

The letter comprised of six questions. Three questions were aimed at considering the findings of the said federal agencies regarding crypto and its connection to CSAM. The other questions sought new tools that would allow law enforcement to identify and crack down on buyers and sellers in this market.

The federal agencies have until May 10 to respond to the senators.

As previously reported by crypto.news, crypto exchange Binance was allegedly involved in facilitating transactions related to CSAM material and other criminal activities. The exchange was charged by federal authorities, and the exchange’s CEO, Changpeng Zhao, is expected to face a 36-month prison sentence.

Read more: 18 US senators strongly support crypto, new report finds

In light of recent bans and regulatory hurdles in countries like Spain, Portugal, how is Worldcoin adjusting its strategy to make a place in the crypto market?

Worldcoin (WLD), a digital identity project founded by OpenAI CEO Sam Altman and co-founder Alex Blania, has once again captured headlines with its announcement of an increase in the supply of its WLD token through private sales. 

Amid growing concerns over data privacy and regulatory issues, Worldcoin’s decision to ramp up its token supply raises questions about the project’s direction and its bid for market relevance. 

With recent bans in several countries, coupled with scrutiny from global regulators, Worldcoin faces the challenge of balancing aspirations with privacy safeguards. 

Against this backdrop, let’s examine the motivations behind its decisions and the potential impact on its market position.

Decoding the reasons behind token supply increase

In an announcement on April 23, Worldcoin unveiled plans to expand the supply of its WLD token by up to 19% over the coming six months. 

The move, led by World Assets, a subsidiary of the Worldcoin Foundation responsible for token issuance, involves weekly sales of between 0.5 million and 1.5 million WLD to select institutional trading firms outside the U.S.

This expansion aims to inject an additional 36 million tokens into the market, valued at approximately $173 million as of current prices.

These placements are strategically designed to occur as close to prevailing market prices as possible, minimizing potential disruptions to the token value.

The recent downturn in the crypto market, heightened by Worldcoin’s price drop of nearly 60% from its all-time high, could be a catalyst. As of Apr. 26, WLD is trading at $4.8, down from its peak of $11.82.

WLD lifetime price chart | Source: CoinMarketCap

By releasing additional tokens, Worldcoin might be seeking to stabilize its value and stimulate demand. Moreover, increasing the supply may alleviate selling pressure and reduce price volatility.

Currently, Worldcoin’s market cap is $968 million, representing the total value of all tokens being traded. 

Another important metric is the fully diluted value (FDV), which considers Worldcoin’s potential value if all its tokens were available for trading. Worldcoin’s FDV stands significantly higher at $49 billion, indicating its growth potential. 

However, flooding the market with too many tokens too quickly could diminish the value of each token. Hence, Worldcoin seems to be on a path of phased distribution to fight the ongoing volatility.

Ramping up for regulatory support

Amid Worldcoin’s bid for market relevance, recent engagements between its key figures, Altman and Blania, and Malaysian leaders hint that the game is getting more serious.

Blania, CEO and co-founder of Tools of Humanity and the lead developer of the Worldcoin project, held discussions with representatives from Malaysia’s digital ministry. 

Exciting discussions today as we met with Nordstar and its impressive lineup of portfolio companies including Nothing, Airwallex, and Worldcoin. The meeting was attended by YB Tuan Gobind Singh Deo, Minister of Digital; YBrs. Tuan Ma Sivanesan, pic.twitter.com/GOpn6L6qmR

— Malaysia Digital Economy Corporation (@mymdec) April 23, 2024

Additionally, Blania and Altman participated in a video call with Malaysia’s Prime Minister, Anwar Ibrahim, to establish constructive dialogue with government officials.

Thank you @anwaribrahim for meeting with @sama, @OleRuch, and me. It was a great honor! https://t.co/eRUmV18Ved

— Alex Blania (@alexblania) April 23, 2024

These interactions with Malaysian authorities were aimed at addressing data privacy concerns and building closer collaboration with regulators. 

So far, Worldcoin has faced scrutiny from several regulators, with temporary bans imposed by Spain and Portugal over concerns about data collection practices. The project’s regulatory challenges extend beyond these countries, with scrutiny from regulators in Germany, France, Argentina, Kenya, and South Korea. 

These concerns primarily revolve around the process of scanning users’ irises to create personal World IDs, which has raised the apprehensions of privacy advocacy groups.

Acknowledging the need to address these concerns, Worldcoin has implemented new measures to enhance privacy and data protection. The introduction of “Personal Custody” ensures that new World ID sign-ups no longer require the storage and encryption of biometric data. 

Additionally, users can now request the permanent deletion of their iris codes, with stricter age verification protocols in place to prevent minors from signing up.

It seems likely that Worldcoin is trying hard to overcome both the regulatory and market challenges with two crucial moves at the same time.

Attracting users and developers

To attract users and developers, Worldcoin is rolling out a layer-2 Ethereum (ETH) blockchain known as World Chain. Based on Optimism’s OP stack framework, this blockchain promises cheaper fees and faster transaction speeds. 

Moreover, it’s designed to prioritize verified humans over AI bots and trading algorithms, offering special benefits for sign-ups, such as block space and some free gas, enhancing the user experience and incentivizing adoption.

Meanwhile, World Chain’s integration with the OP Stack framework also facilitates increased adoption and accessibility for developers. Developers can leverage World Chain to reach millions of users with applications focused on real-world utility.

Furthermore, Worldcoin’s outreach efforts, including in-person scans at conferences and events, have facilitated the onboarding of over 10 million users across 167 countries. 

As Worldcoin ramps up its efforts, the critical question remains: will these moves be enough to establish it as a key player in the crypto market? The outcome is yet to unfold.

Read more: DePINs can disrupt tech monopolies and put people back in control | Opinion

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

XRP gains momentum as Borroe Finance (ROE), an AI-driven altcoin, nears a $4 million presale milestone, attracting massive investor interest.

To boost its push for a rival, XRP recently witnessed an uptick in open interest, which is seen as a stepping stone toward heightened bullish momentum.

Meanwhile, Borroe Finance (ROE) is showcasing itself as a prominent AI altcoin that is taking center stage in the crypto news arena thanks to its long-term objective of streamlining the revenue financing process in web3.

You might also like: As Shiba Inu and Avalanche falter, investors turn to Borroe Finance 

Borroe Finance makes waves in investment circles

As an AI-driven and NFT-based marketplace, Borroe Finance (ROE) is emerging as a force to be reckoned with in web3 revenue financing since it enables participants to raise instant funds to continue with their projects.

Moreover, Borroe Finance is close to making $4 million at presale thanks to heightened investor interest and confidence, making it one of the viral token launches. As one of the leading crypto coins, Borroe Finance has raised more than $3.92 million at the presale stage, with at least 295 million ROE tokens purchased.

Therefore, Borroe Finance’s presale continues to be fruitful, with experts stipulating that the network might witness a ten-fold increase upon a CEX and DEX (Decentralized Exchange) launch.

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Borroe Finance’s adoption rate goes through the roof

With Borroe Finance showcasing itself as a unique decentralized fundraising marketplace, investors are continuously eyeing this network. Borroe Finance presents an exceptional use case whereby it enables web3 players to get immediate loans by using their future earnings as collateral.

These payments are generated as non-fungible tokens (NFTs), making the trading process as smooth as possible. Furthermore, these NFTs present an ideal wealth creation avenue since they can be resold on secondary markets, making Borroe Finance one of the most promising cryptos to buy.

On the other hand, ROE serves as the gateway to the Borroe Finance ecosystem, making it one of the notable governance tokens. ROE also enjoys token burn strategies that play an instrumental role, and in the process, it becomes one of the deflationary coins to keep a keen eye on.

The Borroe Finance network is also a haven of cutting-edge technologies, such as artificial intelligence, NFTs, smart contracts, and blockchain. The Polygon blockchain powers the Borroe Finance ecosystem, enabling transactions to be fast, transparent, and efficient.

You might also like: Experts: Borroe Finance’s hyped presale could pave the way for huge gains

XRP eyes a leg up

Given that XRP has been experiencing a significant consolidation because of the lack of significant bullish momentum, the seventh-largest cryptocurrency based on market value might be getting ready for an uptrend.

This is because open interest in the XRP network recently jumped by 9.4%, according to Coinalyze data.

Per these statistics, crypto exchange Bybit took the lion’s share in terms of XRP’s open interest at $165.5 million. It was followed by Binance, OKX, and Kraken at $163.07 million, $53.29 million, and $4.98 million, respectively.

XRP has had to endure major headwinds that have come its way. For instance, uncertainty rocked the XRP network for almost three years based on the lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple.

Nevertheless, XRP got light at the end of the tunnel after a U.S. court deemed the cryptocurrency not a security. Therefore, XRP remains one of the altcoins to watch based on the bullish picture being painted by an increase in open interest.

Learn more about Borroe Finance here, visit the Borroe Finance presale, join the Telegram group, or follow Borroe Finance on Twitter.

Read more: Excitement builds for Ripple’s stablecoin, LTC gain, and Borroe Finance

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

A new scam is targeting users via physical transactions involving USDT, exploiting a modified remote procedure call (RPC) function on Ethereum nodes.

As per a report by security firm Slowmist on April 26, the scam is designed to deceive unsuspecting users. It involves convincing them to download the legitimate imToken wallet and sending them 1 USDT and small amounts of ETH as bait.

The victim is then instructed to change their ETH RPC URL to a node that has been maliciously modified and is under the control of the scammer.

A RPC allows applications to run code on a computer to communicate with a blockchain and is, as such, essential for the development of decentralized applications (dApps). In this instance, Ethereum RPC interacts with nodes, querying balances, sending transactions, or interacting with smart contracts.

After the user modifies the RPC URL, a falsified wallet balance is displayed on the victim’s end, leading them to believe that they have received a substantial amount of funds. When the user attempts to transfer the miner’s fees to cash out the USDT, they spot the deceit. By then, the scammer had removed all his traces and disappeared with the transferred fees.

“Users often focus only on whether funds have been credited to their wallets, overlooking potential risks. Scammers take advantage of this trust and negligence, using believable tactics such as transferring small amounts of money to deceive users,” researchers at Slowmist wrote.

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Slowmist added that an investigation into one of the victim’s wallets revealed that it received 1 USDT and 0.002 ETH from the scammers’ address. Tracking that address showed that the scammer had sent 1 USDT to three other wallets.

The scammer’s address was associated with multiple trading platforms and was also flagged as “Pig Butchering Scammers” by the on-chain tracking tool MistTrack.

As such, Slowmist urged users to “remain vigilant during transactions,” adding that users should be “skeptical of others” to avoid being defrauded. 

Scams in the cryptocurrency sector continue to plague market participants despite growing awareness. In April, there were multiple instances where scammers got the best of unsuspecting crypto users.

On April 17, Hollywood star Tom Holland’s X account was hacked to promote crypto scams. Earlier in the month, YouTube witnessed a flood of fake Space X giveaways under the guise of live streams focused on the April 8 solar eclipse. 

Read more: SpaceX giveaway scam floods YouTube with deep fake Elon Musk

The UK government has enacted enhanced powers for the National Crime Agency and police to seize and freeze crypto used by criminals.

The British National Crime Agency (NCA) will no longer be required to make an arrest before seizing crypto from a suspect, as the new powers enable enhanced measures to combat crypto-related crime.

According to an official statement on Apr. 26, the U.K. government has updated proceeds of crime and terror legislation, facilitating more effective investigation, seizure, and recovery of illicit crypto by law enforcement agencies, marking a significant shift in the country’s approach to tackling illicit activities involving crypto.

The changes include allowing police to seize crypto without an arrest, enabling the seizure of items aiding investigations, and transferring illicit crypto into a controlled digital wallet inaccessible to criminals. Additionally, law enforcement officials can now seize “items that could be used to give information to help an investigation, such as written passwords or memory sticks.”

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“These reforms will also enhance our national security. Terrorist organisations like Daesh are known to raise funds through crypto transactions and these updated powers will enable our agencies to more easily strip them of their assets.”

Home Secretary James Cleverly 

The NCA says organized criminals, including drug dealers, fraudsters, and terrorists, increasingly employ crypto to launder illicit proceeds and raise funds, estimating that illicit crypto transactions linked to the U.K. reached at least £1.2 billion (~$1.5 billion at the current rate) in 2021.

With the latest update, the British law agency says it wants to stop criminals from “undermining the legitimate use of crypto,” while also supporting the development of crypto as a potential driver of economic growth.

Read more: British citizen found guilty in $6b Bitcoin fraud scheme

Marathon Digital has revised its 2024 hash rate goal upwards from 35-37 exahashes per second (EH/s) to 50 EH/s following recent acquisitions that expanded its capacity.

Per an April 25 press release, Marathon’s CEO, Fred Thiel, said that the firm could potentially double its mining scale in 2024 owing to the added capacity.

Thiel also confirmed that the new target would be “fully funded,” with no need to raise additional capital.

Today, we announced that we are increasing our hash rate target for fiscal year 2024 from 35-37 EH/s to 50 EH/s. Read the full press release: https://t.co/w5QHQIVsu7

— MARA (@MarathonDH) April 25, 2024

The company recently acquired a 200-megawatt Bitcoin mining facility from Digital Applied for $87.3 million in March, and two additional sites with a combined capacity of 390 megawatts were acquired from Generate Capital for $179 million in December.

Currently, Marathon’s operations achieve a hash rate of 24.7 EH/s, placing it ahead of Core Scientific and Riot Platforms, which have hash rates of 16.9 EH/s and 12.4 EH/s respectively, as per Hashrate Index.

If Marathon meets its 50 EH/s target, it will have increased its hash rate by more than 100% from the beginning of 2024.

Marathon’s (MARA) stock declined 0.42% to $19.01 on April 25 before rallying 3.05% in after-hours trade on the announcement, according to Google Finance.

MAR stock price in USD | Source: Google Finance

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Marathon has climbed by more than 15% since the fourth Bitcoin halving event happened at block 840,000 on April 20 – a trend shared by other miners in the sector.

Much of the initial demand at block 840,000 was driven by memecoin and nonfungible token aficionados competing to inscribe and etch “rare satoshis” via the Runes protocol.

Despite this surge, transaction fees dropped to $28.20 by April 24, according to YCharts.

As the crypto mining sector shows robust growth, other Bitcoin mining firms like Riot Platforms are also seeing significant market movements.

On April 23, Riot’s shares surged by more than 20%, fueled by optimistic evaluations from analysts who foresee substantial growth in the company’s financial performance.

Read more: Marathon Digital CEO predicts $43k Bitcoin break-even post-halving