Phoenix Wallet, a Bitcoin (BTC) wallet designed for Lightning payments, has announced that it will stop serving U.S. residents on May 3. 

ACINQ, the company behind Phoenix Wallet, plans to remove the app from U.S. app stores, meaning users in the U.S. will no longer be able to access it from the said date. 

On May 3rd, 2024, @PhoenixWallet will be removed from US app stores.Users from the US should empty their wallet:– Settings > Close channels (Android)– Settings > Drain wallet (iOS)We highly recommend *not force-closing* channels, as on-chain fees could be significant.

— Phoenix Wallet (@PhoenixWallet) April 26, 2024

The company has advised its U.S. customers to withdraw their funds without delay. However, it cautioned against force-closing the wallets, as that could lead to higher on-chain fees. 

Instead, the company urged its American iOS users to go to the wallet’s settings page and hit “drain wallet,” Android users are advised to also go to the settings section and hit the “close channels” command to safely empty their wallets.

The official reason for pulling the wallet from U.S. app stores hasn’t been given. However, ACINQ hinted in a tweet that recent U.S. government statements raise doubts about whether self-custodial wallets, Lightning service providers, or even Lightning nodes might be considered Money Services Businesses and face regulation.

Recent announcements from US authorities cast a doubt on whether self-custodial wallet providers, Lightning service providers, or even Lightning nodes could be considered Money Services Businesses and be regulated as such.

— ACINQ (@acinq_co) April 26, 2024

The company’s decision comes on the heels of legal action against the creators of Samourai, a Bitcoin mixing wallet. 

Read more: US senators cracking down on crypto use in child abuse trade

On April 24, federal prosecutors in the Southern District of New York announced that they had indicted Samourai Wallet founders Keonne Rodriguez and William Lonergan Hill, accusing them of aiding illegal transactions through Samourai. Per the indictment, Rodriguez faces up to 20 years in prison, while Hill could face up to five years if convicted.

The U.S. Department of Justice alleges that Samourai’s creators allowed over $2 billion in unlawful transactions through the platform, collecting more than $4.5 million in fees since 2015. It also claims that Samourai was marketed as a tool for censorship resistance and facilitating illicit activities.

The arrest of Rodriguez was accompanied by a warning from the FBI to users about ‘operations’ on unregistered crypto firms believed to be money services businesses. This crackdown follows a pattern of U.S. authorities targeting wallets and mixers involved in what they deem to be questionable activities.

The indictments have provoked an outcry from the crypto community, with CryptoQuant CEO Ki Young Ju coming to the defense of Rodriguez and Hill, arguing that privacy protection is a fundamental aspect of Bitcoin. 

Ju compared the situation to punishing the inventor of a knife instead of the one who misuses it, emphasizing that the intent behind using a tool determines its legality.

Read more: British law agency gains enhanced crypto seizure powers

Asset management firm Franklin Templeton has launched its Ethereum exchange-traded fund (ETF), dubbed the “Franklin Ethereum TR Ethereum ETF,” with the ticker code EZET.

The spot Ethereum ETF has been listed on the Depository Trust and Clearing Corporation website, a significant platform for securities transactions in the United States.

The listing on the DTCC’s “Create/Redeem” column indicates that the ETF is now available for creation and redemption, signaling a significant step in its operational rollout.

Franklin Templeton’s Ethereum spot ETF is now listed on DTCC | Source: DTCC

The listing does not imply approval from the U.S. Securities and Exchange Commission (SEC), which is still pending.

Listing on the DTCC website signifies that the ETF has completed certain registration or compliance processes, making it eligible for trading and settlement within the DTCC’s systems.

The final approval, however, hinges on the SEC’s assessment against various regulatory standards.

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Franklin Templeton filed a Form S-1 with the SEC in February, seeking to launch a spot Ether (ETH) ETF. If approved, it would be traded as “Franklin Ethereum ETF” on the Chicago Board Options Exchange.

However, in a recent update this April, the SEC announced a delay in its decision on the application, extending the review period by an additional 45 days to June 11.

Industry heavyweights, including BlackRock, Grayscale, VanEck, and ARK Invest, are also contenders in the race to secure approval for their own spot in Ether ETFs.

However, the prospects for these Ethereum-based ETFs gaining approval from the SEC appear to be different from those for spot Bitcoin ETFs, which received the green light in January.

In March, Bloomberg ETF analyst Eric Balchunas assessed the likelihood of a spot Ether ETF being approved in May at about 35%. He pointed out the SEC’s less proactive approach compared to the Bitcoin ETF applications.

Balchunas also mentioned that the SEC Chair Gary Gensler’s views on Ether and his reluctance to define it explicitly as a security could influence the final outcome.

Read more: SEC seeks comments on three spot Ethereum ETF filings, analysts not bullish

Digital assets continue to struggle as the crypto market cap dips 1.28%. It currently hovers at around $2.45 trillion — a 94.5% change one year ago.

In what could be a knock-on effect from the traditional market, which saw the Japanese yen tumble to a 34-year low against the U.S. dollar, leading cryptocurrencies such as Bitcoin (BTC), Solana (SOL), and Dogecoin (DOGE) all saw their prices drop in the last 24 hours. 

Bitcoin

Per data from CoinMarketCap, Bitcoin is currently priced at $63,284, which is a 2.32% drop from 24 hours ago.

In that period, the number one crypto recorded a trading volume of $22.89 billion, which was the second-highest amount in the last 24 hours.

BTC 24-hr price chart | Source: CoinMarketCap

While Bitcoin’s price is still more than 118% higher than it was at the same point a year ago, it is in the red over several other time frames.

For instance, the current price signifies a 10% dip over 30 days, a 6.7% drop across a fortnight, and a more modest 1.3% loss in the last seven days.

Solana 

On its part, Solana — fifth on the list of the biggest cryptocurrencies by market cap — saw its price go down by more than 4% in 24 hours.

Currently, the coin is changing hands at $137.21 and has a 24-hour trading volume just north of $2.4 billion.

SOL 24-hr price chart | Source: CoinMarketCap

SOL has not fared any better over different time frames either.

The current price represents a 25.6% drop from where it was 30 days ago, per data from CoinGecko.

It also marks a nearly 8% dip across 14 days, as well as a 2.6% loss over 7 days.

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Ethereum

Ethereum seems to have bucked the general negative trend, albeit rather modestly. At the time of writing, it was trading at about $3,137, which is a 0.23% uptick over the last day.

The slight bump was accompanied by a 24-hour trading volume of $10.26 billion, making ETH the third most traded cryptocurrency after Tether and Bitcoin.

ETH 24-hr price chart | Source: CoinMarketCap

Ethereum’s gains over seven days are more significant, with the current price being a 4% improvement on where it was a week ago.

However, the bearish sentiment that seems to have washed over the crypto market in the last month has not spared ETH either. It has lost more than 12% of its value in that time.

Dogecoin

Dogecoin — the largest meme token — also shed some of its value in the last 24 hours.

The dog-themed coin shed nearly 3% of its price in that time. Trading at about $0.1451, Dogecoin’s value is also more than 30% lower than its level from a month ago.

DOGE 24-hr price chart | Source: CoinMarketCap

Its performance is reflected among other meme coins, including Pepe (PEPE), Dogwifhat (WIF), and Shiba Inu (SHIB), which are all currently in the red, with losses ranging between 2.82% and 7.87%. 

Read more: Binance burns over $1.17b in BNB tokens

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

Dogwifhat’s unexpected 60% crash surprises holders, while KangaMoon’s presale nears $5 million, attracting significant attention from investors and whales alike. 

Recently, the new Solana meme coin, Dogwifhat, suffered an approximately 60% crash from its historic high price. 

Yet, the token still maintains a spot among the top three largest meme coins by market cap. Trying to keep up with its over 1500% yearly rise, the WIF token appears to be on the verge of a possible rebound with a recent 22% sharp increase. 

On the other hand, KangaMoon (KANG) has continued to draw significant whale attention with new presale milestones. Coveted to raise over $6M before the end of April, KangaMoon is set to lead the meme coin market.  

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

Dogwifhat (WIF) dropped by 60% but is already pacing up again

The rise of dog-themed cryptocurrencies in the meme coin market demonstrates how trends on the internet can affect the world of finance. One notable example is Dogwifhat, a digital token that has caught the attention of many traders and investors due to its unique theme. On Thursday, Coinbase global exchange revealed in a post on X social media that they are adding perpetual futures linked to Dogwifhat— this signals another catalyst that will bring more attention to $WIF . 

On the 31st of March, the price of WIF reached an ATH of $4.83. However, it began a decline that lasted till April as it went as low as $2.13. This drop was an approximately 60% decrease in valuation due to volatility. However, WIF was still gaining as much trading activity. In the past week, the Dogwifhat token has been priced between $2.14 and $3.43.

Dogwifhat is also currently among the top three largest meme coins by market cap. Still gaining in the past month with a 20.10% rise, Dogwifhat is trying to navigate through its 21% weekly decline as the token maintains an increased rate of trading activity. Dogwifhat token is ultimately a strong contender for riding the bullish wave this year.

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KangaMoon: The new meme coin gem 

Investors have recently taken notice of KangaMoon due to its distinctive features and appealing sub-$1 pricing. The project, currently in its fifth presale stage, has achieved significant milestones that have garnered attention from potential investors and the wider crypto community. 

In its 5th stage presale, KangaMoon has raised up to $5 million in presale funding, with expectations to surpass $6 million by month-end. Consequently, KangaMoon has risen in prominence among top meme coins to buy in 2024, with its token value appreciating from an initial $0.005 to $0.0196, delivering impressive returns of up to 290% for early adopters.

Beyond financial incentives, KangaMoon is constructing a community-driven ecosystem called “Kangaverse.” By integrating elements of Social-Fi and GameFi’s Play-to-Earn (P2E) mechanics, KangaMoon aims to engage users in activities like battle-themed contests and speculative betting. Participants can also create and trade custom in-game characters on a dedicated marketplace alongside the KANG token and other valuable in-game collectibles.

Industry experts and investors eyeing top meme coins in 2024 are optimistic about KangaMoon’s future potential, anticipating a substantial price surge of up to a 1000% increase after it launches. This anticipated growth is expected to attract further interest, particularly upon listing on reputable exchanges and decentralized platforms. 

To learn more about this project, visit the KangaMoon presale website or join the community.  

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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.

Financial services firm Depository Trust and Clearing Corporation (DTCC) has announced it will not allocate any collateral or offer loans for ETFs with exposure to Bitcoin or other cryptocurrencies.

As of April 30, during its annual line-of-credit facility renewal, the DTCC will adjust the collateral values for specific securities, potentially impacting their position values in the collateral monitor.

The statement released on April 26 specified that ETFs and similar investment vehicles with Bitcoin or other cryptocurrencies as underlying assets would see their collateral value reduced to zero.

However, crypto enthusiast K.O. Kryptowaluty, in a post on X, noted that the change pertains only to inter-entity settlements within the line of credit system.

The DTC system, or Depository Trust Company, is a key component of the financial infrastructure of the United States, acting as the central securities depository. DTC is part of a larger organization called the Depository Trust & Clearing Corporation (DTCC) what you write…

— K.O Kryptowaluty (@KO_Kryptowaluty) April 27, 2024

A line of credit is a loan agreement between a financial institution and an individual or company that allows the borrower to withdraw funds up to a predetermined credit limit.

The borrower can use these funds as needed and normally pays interest only on the amount borrowed. 

According to Kryptowaluty, the use of cryptocurrency ETFs for lending and as collateral in brokerage activities would likely continue unaffected, dependent on the risk tolerance of individual brokers.

While the DTCC has expressed opposition to cryptocurrency ETFs, other established players have not. Goldman Sachs clients have begun to re-enter the cryptocurrency market in 2024, fueled by fresh enthusiasm following the launch of spot Bitcoin ETFs. 

Since their introduction, these ETFs have attracted substantial institutional interest, amassing over $12.5 billion in assets under management within three months.

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In February, the ten Bitcoin ETFs approved in the U.S. on Jan. 11 accounted for an estimated 75% of new Bitcoin investments. 

Despite this surge, recent weeks have seen a decline in inflows. Farside Investors reported a net outflow of $218 million from spot Bitcoin ETFs on April 25, following a $120 million outflow the previous day.

Meanwhile, on April 25, the U.S. Securities and Exchange Commission (SEC) once again delayed its decision on applications for spot Bitcoin ETF options. The regulatory body is extending the deadline and calling for public comments within the next 21 days and rebuttals in 35 days.

The agency has questioned whether options on spot Bitcoin ETFs should follow the same rules as stocks.

Several exchanges, including Cboe Exchange, Inc., BOX Exchange LLC, MIAX International Securities Exchange LLC, Nasdaq ISE, LLC, and NYSE American LLC, have applied to offer options trading on these ETFs.

In addition, the SEC has deferred decisions on Grayscale and Bitwise’s applications to introduce Bitcoin options ETFs, setting the next review date for May 29.

Read more: 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.

With a luminary investor’s tweet predicting a 2024 bull run, Koala Coin (KLC) is generating buzz in the crypto world. 

In its presale stage, priced attractively at $0.014, Koala Coin is turning heads and is poised for remarkable growth. Its community-first approach propels it ahead, outshining even stalwarts like Cardano (ADA) and leaving others like Flow (FLOW) behind. 

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The enigmatic appeal of Koala Coin

Koala Coin isn’t just another cryptocurrency. It’s a fusion of fun, finance and fraternity, all built on a stable and inviting blockchain foundation. This digital sensation comes with the promise of governance rights, staking rewards and an arsenal of memes that bring not just a financial incentive but a wealth of happiness, setting the stage for a financial escapade unlike any other.

In a sea of digital tokens, Koala Coin forges its path with a mission centered around joy and collective progress. It moves beyond mere transactions to weave narratives of joy, belonging and shared success.

Carving a niche: Cardano’s role in the crypto ecosystem

Cardano is celebrated for its groundbreaking proof-of-stake (PoS) protocol, which was built with an eye on scalability, interoperability, and sustainability of the blockchain. It’s more than a digital currency. It’s a technological scaffolding capable of supporting the financial apps, smart contracts and decentralized apps we use every day around the world.

Yet the recent journey of Cardano has been a rollercoaster, with its value at $0.59 showing a modest rise of 1.95% this week against a monthly slide of -21.79%. This fluctuation places it in stark contrast to the ascending trajectory and allure of newer entrants like Koala Coin, putting Cardano at a crossroads of challenge and opportunity in the vibrant crypto market.

Flow: A conduit between the tangible and digital realms

Flow presents itself as a nimble, decentralized blockchain tailored for the next wave of games, applications and the digital assets that fuel them. Flow (FLOW) is crafted to be scalable and developer-friendly, clearing the path for user-centric dApps and digital collectibles.

Yet the market posture of Flow seems hesitant, with its price at $1.20, marking a -1.23% dip over the past week and a more pronounced -26.61% over the last month. 

This tepid movement casts Flow into a lull, especially when juxtaposed with the vibrant growth and community enthusiasm for Koala Coin and the strides made by Toncoin among the traditional crypto behemoths like Cardano.

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A fresh horizon with Koala Coin

In the ever-mutable universe of digital currency, Koala Coin emerges as a lighthouse of potential, offering not just a token but an invitation to a community, a narrative and a journey ladened with delight. 

As the likes of Cardano and Flow weather their seas of change, Koala Coin stands out with its unique charm and the vibrant promise of a shared adventure. 

This is an opportunity to be part of something unique, a convergence of memes and money in a symphony of joy.

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

You might also like: Koala Coin outshines BCH and ALGO amid market downturns

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.

Ethereum and Solana’s investors are latching onto the Pushd presale in droves as it aims to disrupt e-commerce. The presale is now in stage 6. 

The U.S. SEC has yet again shown a lack of enthusiasm for the approval of Grayscale’s petition for an Ethereum ETF. 

On the other hand, Solana faces rejection at critical resistance levels after experiencing a significant decline prior to Bitcoin’s halving. Meanwhile, both Ethereum and Solana back Pushd’s bold move to disrupt e-commerce in stage 6 of its presale.

To make online retail much more convenient for users, Pushd utilizes blockchain technology to solve the common problems faced by traditional e-commerce platforms. Notably, a lot of crypto enthusiasts are making moves to secure their slots in the Pushd presale even as they anticipate substantial returns in the coming months.

You might also like: Global investors choose Pushd presale despite Fetch.Ai surge

Spot Ethereum ETF proposal sees further delay

The Securities and Exchange Commission of the United States has deferred deciding on Grayscale’s petition for an Ethereum ETF. The review time was extended by the SEC to June 23. Grayscale approved the conversion of its current Ethereum Trust into a spot Ethereum ETF in October by submitting Form 19b-4 to NYSE Arca. Grayscale changed its Bitcoin Trust into a spot Bitcoin ETF in January.

The SEC’s decision to postpone is also supported by the issues and modifications being thought through concerning the plan. The SEC has also delayed similar applications from other asset managers. In response to the SEC’s most recent move, Grayscale has improved its application yet again. In compliance with the U.S. Securities Act, the company filed Form S-3 to continue its operations in relation to the Ethereum ETF offering.

You might also like: Pushd draws interest from Ripple and Monero holders

Solana price analysis

After rising more than tenfold from $17 in September 2023 to $210 in March 2024, Solana touched $116.0 last week and encountered selling pressure at $210. Solana recovered after Bitcoin’s halving and tested the resistance at EMA21. The altcoin recently opened trading above the EMA21 but was unable to sustain above the $160 barrier; as a result, it is currently trading at $158.

According to daily chart analysis, Solana needs daily closures over $157 to start climbing higher. Solana’s first target price zones are $164.50 and $174.31, assuming daily closures above $157. Daily closings below the $151.24 EMA5 support level, nevertheless, can re-increase selling pressure. If selling pressure picks up again, $140.82 and the EMA100 at $139.31 are the first support levels.

Investors back Pushd’s bold move to disrupt e-commerce 

Pushd has the potential to completely transform the online marketplace by solving the common problems that shoppers and sellers on sites like Amazon and eBay encounter. Additionally, sellers may have delays in obtaining funds because PayPal holds payments for up to 90 days following a transaction, and buyers are subject to stringent KYC procedures. Users may instantaneously buy, sell, and auction items without going through KYC checks.

Pushd offers significantly cheaper fees than traditional marketplaces, and its instantaneous deposits and withdrawals eliminate the need to wait several days for payments. 

In addition to the possibility of making substantial profits, presale investors receive a revenue share of platform fees based on the number of tokens they own. With a price of $0.144 per token and being at Stage 6 of their presale, Pushd tokens present a strong investment opportunity.

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

Read more: Pushd Stage 6 presale attracts Ethereum and Bitcoin holders

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.

Movement Labs, a San Francisco-based blockchain developer, raised $38 million in a Series A funding round led by Polychain Capital. 

The funding is expected to support its mission to integrate Facebook’s Move Virtual Machine into Ethereum (ETH). This would address vulnerabilities in smart contracts and improve transaction speed, the company stated.

The funding round attracted investments from well-known venture capital firms like Hack VC, Placeholder, Figment Capital, Bankless Ventures, OKX Ventures, and Aptos Labs, among others.

According to Movement Labs, between 2022 and 2023, the Ethereum ecosystem experienced losses totaling more than $5.4 billion due to smart contract exploits.

The startup’s Move-EVM product is designed to prevent such attacks by allowing developers to deploy code that undergoes real-time verification, effectively blocking attack vectors like reentrancy. 

Move is a Rust-based programming language developed by Facebook for its Diem blockchain crypto payment project, which was discontinued in 2022.

It was designed to work on any platform and provides a framework for writing secure smart contracts used in cryptocurrencies, non-fungible tokens (NFTs), and decentralized applications (apps).

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Movement Labs’ Busy Year

Movement Labs has been promoting the adoption of Move since securing a $3.4 million pre-seed round in September 2023.

Key contributors to the fund included Varys Capital, the Avalanche Fund by Blizzard, dao5, Borderless Capital, and others within the Wormhole developer ecosystem.

Angel investors who participated include Chandler Song, Ryan Fang, and Stanley Wu from Ankr, as well as George Lampeth from dao5, and Calvin Liu from Eigenlayer.

The money from the pre-seed round was also meant to introduce the Movement SDK, a tool aimed at making it easier to create secure and high-performing Move environments for established blockchains.

Additionally, earlier this year, Movement Labs partnered with Covalent (CQT), a multichain indexer with integration across 225 chains, to bring real-time data indexing and deployment tools, including Covalent’s Unified API and GoldRush Kit, into the Movement ecosystem. 

Covalent’s Unified API offers seamless access to real-time and historical blockchain data, making it a vital tool for AI in web3. The GoldRush Kit enhances the user experience by providing a user-friendly interface for accessing and visualizing historical blockchain data within the Movement Labs ecosystem.

Read more: Yuga Labs CEO announces layoffs, focusing on ‘getting back to roots’

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

If there’s one thing to count on in the blockchain world, it is the support that is never something to count on.

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While it may seem like we’re entering a bull market filled with substantial institutional investment thanks to ETFs and real-world asset (RWA) tokenization, any blockchain veteran would be correct in feeling a tinge of anxiety. After all, it’s easy to remember the corporate exodus from crypto and blockchain as a whole during the last bear market.

That trepidation also extends to corporate equity and venture capital, which saw cash flow grind to a halt as VCs reined in their big-ticket blockchain investments. There has been some slight turnaround recently as institutional investors seem more committed. However, the feeling of the bottom falling out at any moment still lingers.

Looking inward

While external investment in the blockchain ecosystem may seem precarious, it’s not the only avenue for worthwhile projects to find backing and support for their development. In fact, the blockchain industry has a long history of internal support to help give talented developers and innovative projects a platform.

Most often, we can see this kind of internal support happen through smaller investments, grant programs, or big names in crypto acting as catalyst investors in projects building on their network. In some cases, a simple retweet can make a difference in a project’s progress.

Internal investment—whether through capital injections or non-monetary support like accelerator programs or mentorship schemes—succeeds in the blockchain space due to the industry’s inherent community aspect. When slogans like “we’re all gonna make it” and open-source development are ingrained in blockchain and web3 culture, it translates into material support that’s less common in traditional industries.

Likewise, emphasizing internal growth opportunities untethers blockchain development and progress from external capital and interest fluctuations. If progress can happen independently from whether or not VCs are feeling bearish on crypto, it demonstrates how resilient the industry can be when operating on its own terms.

Aside from accelerators in investments, however, you also have larger projects conducting grassroots work to build cooperation, knowledge, and cross-sector collaboration throughout the blockchain ecosystem.

For instance, The Coreum Development Fund recently bulked up its workshop program across universities in North America to encourage students across any discipline to learn about blockchain technology and foster a collaborative atmosphere. This initiative also coincides with the enterprise-focused Layer-1 closing the third edition of its grant program for projects building new solutions and tools on its Coreum blockchain network.

Through its grant program, which includes eight projects spanning a diverse range of sectors and applications using Coreum as a basis, and its higher education initiatives to build bridges between faculties—the network is just one example of how industry power players can foster collaboration and early-stage support for other projects.

If successful blockchain networks continue embodying this mentality towards knowledge-sharing, incubation, and development—there is a well of untapped potential for innovative projects.

It also shows developers that there are alternative pathways to shore up support that don’t rely on external benefactors to keep the industry moving forward. So, although robust institutional interest in blockchain is undoubtedly encouraging, projects should know that it’s not their only opportunity to grow.

Read more: Institutions have forced crypto to grow up, and that’s a good thing | Opinion

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Crypto startups secured over $90 billion in funding by February 2024, with over 230 deals and almost $1.3 billion in the year’s start. Venture capitalists mainly funded decentralized finance, infrastructure, blockchain gaming, NFT, and web3 projects.

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However, only a tiny part of the funding was allocated to crypto financial services in 2024. It contrasts greatly with previous years, particularly in 2021’s bull market, when this sector accounted for a substantial portion of VC’s investments.

Despite this recent trend, I believe investors shouldn’t overlook the cryptocurrency financial services landscape. On the contrary, it is a market they should pay closer attention to, especially since it is positioned well to become one of the most attractive sectors for crypto VC investments in the coming years.

Why crypto financial services deserve so much more

The crypto financial services sector’s relative lag in funding this year can be attributed to several factors, drawing insights from the broader financial and technological landscape. Firstly, crypto financial services involve a lot of rules and regulations, which can be tricky to navigate. This area is closely watched by governments and agencies, making it a bit of a high-wire act compared to more free-wheeling sectors like blockchain gaming or NFTs. The uncertainty about what new rules might come into play can make investors nervous.

Then, there’s the allure of the new and shiny. Projects that let people trade digital art or play blockchain-based games are easy to get excited about. They are cool, they are in the headlines, and they promise a whole new world of digital ownership and fun. Compared to these, the financial services sector might seem a bit old-fashioned.

But here is the thing: crypto financial services play a crucial role in the digital asset industry. In fact, they are the backbone that supports everything else in the cryptocurrency world. Without them, it would be hard to buy, sell, or do anything with cryptocurrencies safely and securely. This sector is all about making sure people can use their coins without a hitch, offering essential services like paying with digital assets, keeping them safe, and even helping businesses use crypto.

Investing in this sector might not seem as glamorous as buying the next hot NFT, but it holds tremendous potential. As crypto becomes integrated into daily finance, its supporting services will be in higher demand. Despite its current funding state, it’s a long-term play.

Focus, don’t overlook it

Investors and VCs should monitor the crypto financial services sector for several good reasons. First, as I mentioned earlier, it is the backbone of the digital asset world, including critical solutions like exchanges, payment products, and cryptocurrency management. As the crypto market grows, these services become more important, offering investors a solid opportunity.

Second, the rules around cryptocurrencies are starting to become more apparent. This development is good news because it makes the crypto financial services sector less risky and more attractive to investors. Companies that know how to work with these rules could do really well.

Third, big players are becoming interested in crypto, and large institutions are starting to gain exposure to the asset class through exchange-traded funds. As institutional clients need this sector’s financial services, it could translate into more business and growth for companies in this space.

Finally, there’s a lot of room for new and innovative ideas in crypto financial services. Thus, investors have the chance to support companies that could disrupt traditional finance and grow big.

Returning to the spotlight

To attract more investment, the sector’s projects should show they play by the book. They should make it clear they follow all the rules and keep their customers’ assets safe. This makes investors more comfortable putting their money in.

Crypto financial service companies also need to clearly explain what they do, why it’s needed, and how it can grow to help investors see the potential for big returns. Simultaneously, having a rockstar team with expertise in both finance and technology can make a significant difference. For investors, it shows that the company can handle the complex crypto world.

Moreover, crypto financial service firms that can work well with traditional finance and tech companies might have a better chance at success. It showcases how serious they are and whether they can fit into the broader TradFi world.

Focusing on these areas could make the crypto financial services sector more appealing to investors, helping it grow and become an even more critical part of the financial industry.

A well-positioned sector for future crypto VC funding

Given the current trends and developments, it is likely that cryptocurrency financial services will attract more investments in the next two to three years.

One of the reasons I’m optimistic about the sector’s future is that more and more big companies want to get into crypto. They need safe and reliable services to help them do this, which could mean more business for digital asset financial companies.

Also, as the government clarifies the rules around crypto, people will be more comfortable investing in it. Thus, it could bring more money into cryptocurrency financial services.

Improved technology is enhancing crypto financial services, attracting investors seeking innovative opportunities. Companies now offer crypto-insurance, payments, and loans, which could drive even more investments. The growing use of crypto raises the need for supporting financial services, potentially leading to increased sector investments.

With big companies getting involved, clearer rules, better tech, more services, and growing crypto adoption, the digital asset industry’s financial services sector could become a hot spot for VC investments in the next couple of years.

Read more: Investors must protect themselves from hidden defi costs in 2024 | Opinion

Author: Eugene Krasicki

Eugene Krasicki is the founder and CEO of neobank Keytom, one bank for all digital assets. An impact entrepreneur with over 15 years of expertise, he has paved his path through various industries, from manufacturing and fine wine to real estate and banking. Beyond his entrepreneurial pursuits, Eugene has a deep interest in alternative investments, recognizing their potential in diversifying portfolios and generating long-term returns.

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

For the second time in the crypto market history, memecoins spearhead the new bull run while demonstrating unprecedented growth. Some slam meme tokens for having “zero value” and being harmful to the industry, but others praise them for engaging communities and attracting new users to crypto. Meanwhile, the latest memecoin boom has sparked a surge in transaction volume in web3 wallets, defining new leaders in the crypto storage landscape. 

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Regardless of what anyone thinks about the value of memecoins, their influence on the crypto market right now is hard to overstate.

The new rise of dog coins

The soar of meme tokens marks the emerging bull run. By the end of March 2024, the capitalization of top meme coins reached $80 billion, which is close to the all-time highs seen during the previous rally in 2021. At the time of writing, the total value has corrected to nearly $55 billion.

The top memecoins by market cap are Dogecoin and Shiba Inu, well-known from previous alt seasons, but new leaders have also popped up. Among them are BONK, “The Dog Coin of the People,” and Book of Meme (BOME)—a Solana-based token that skyrocketed 457 times since its listing on Binance on March 16, only to plummet by 50% later.

Another leader in the race is Dogwifhat (WIF), also based on Solana. As the token has gained 22X since January, its supporters managed to raise 690,000 USDC to showcase the project’s mascot at Sphere in Las Vegas.

WIF on Sphere in Las Vegas | Source: Dogwifhat How the current meme rally is different 

Analysts note how “weird” the current rally is compared to previous market cycles. Zach Rynes, the community liaison at Chainlink, points out that the market skipped several stages—liquidity shifted from Bitcoin directly into memecoins, bypassing several intermediate steps such as Ethereum and other high-cap coins.

The market capitalization of memecoins has already approached its all-time high level of 2021. But this time, this is perhaps only the beginning of the rally—the Bitcoin halving hasn’t even happened yet, while market peaks typically occur within one year after the event.

Web3 wallet activity spikes 

We are now witnessing a sharp increase in the crypto wallets’ transaction volume, which can be at least partially attributed to the memecoin frenzy. Among the top five web3 wallets, one saw growth of 18% in weekly active users, while two others experienced an increase of almost 50%.

Source: Dune

What stands out is the transaction count: the weekly figures in two wallets have surpassed those of MetaMask, one of the most widely used web3 wallets that gained recognition in previous market cycles. Leading the list is Bitget Wallet—a solution by a crypto exchange Bitget that acquired the BitKeep wallet last year and has been developing it under its own brand since then. The wallet recently listed trading pairs with BOME and BONK, which could have contributed to the surge in transaction volume.

Another chart clarifies how the web3 landscape has changed in recent months and weeks: the percentage of transactions processed by MetaMask dropped from 100% to nearly 19%, giving way to new players.

Data: Dune “Think twice before calling it stupid”: what experts say about memecoins  

Market experts have directly opposite opinions on memecoins. Among those articulating a popular point of view is Franklin Templeton, an American trillion-dollar asset management firm. The company notes that meme coins have appealed to many traders due to low fees and the potential for quick profits. Experts warn that tokens originating from internet memes “have no inherent value or utility.” “Meme coins harm the crypto industry,” adds Ki Joung Ju, the founder and CEO of the blockchain analytics firm CryptoQuant. He continues:

“It’s frustrating to see billion-dollar-cap meme coins overshadow hardworking teams building legit products to advance this industry. Easy money can’t drive industry-wide progress.”

However, many market participants argue for the opposite. It’s crucial to think twice before labeling memecoins as “stupid and valueless” since they can benefit blockchain ecosystems by attracting new users and developers, says crypto entrepreneur Arthur Hayes.

Memecoins will remain a vital part of the crypto industry and potentially evolve into a new asset class, believes Maartje Bus, VP of research at Messari. They “inadvertently” introduce newcomers to web3 basics, including decentralized exchanges and crypto wallets, and bring people together in the blockchain space.

The evolution of memecoins

Like many crypto phenomena, memecoins have the potential to evolve and become more than just a tool for short-term gain. Vitalik Buterin suggests that meme tokens can contribute positively to society, serving as tools for funding public projects.

Whatever memecoins may become in the future, they are transforming the market right now. In the current market phase, meme tokens drive up the value of L1 chain coins such as Ethereum and Solana and reshape the web3 wallet leaderboard. The upcoming rally will show further changes that meme coins will bring to the crypto market.

Read more: From Hollywood to HODL: how celebrity adoption is spurring the growth of memecoins

Author: Mary Pedler

Mary Pedler is a seasoned communication expert and founder of INPUT Communications Agency, with over seven years of experience in GR and PR. Her expertise has significantly contributed to the success of over 50 tech projects, enhancing their organic media presence and aiding in raising over $500 million. Mary’s proficiency in global media relations, tailored communication strategies, and deep understanding of web3, blockchain, and the MENA market positions her as a leader in her field. Mary is a regular speaker and moderator at industry events, and her agency in Dubai specializes in creating effective communication strategies for tech projects worldwide.

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

The foremost crypto token, Bitcoin, continues to dominate and direct the market movement. 

Since the halving, investors have renewed interest, anticipating a price explosion like the one that occurred shortly after the last halving in 2020.

While several investors expect their holdings to explode, tokens such as Fezoo have shown every sign of price explosion right from presale with expectations of 20X return. 

How is the crypto market responding to Bitcoin Halving?

As expected, the first response to the halving event on April 21 was the slash in Bitcoin transaction fees. This time around, there was an immediate hike post-halving. Shortly after the halving, transaction fees for medium-priority transactions rose to over $146 and $170 for high-priority transactions. A few days later, the transaction fees dropped significantly and are now aligning with predictions.

In response, there have been increased transactions, signifying a spike in trading movement across the crypto market. According to CoinMarketCap, Bitcoin has surged by 4.85% since the halving event, with expectations of a significant surge in the coming weeks.

Despite market fluctuation, Solana stakes major holding

In recent times, several events and decisions have thrown Solana holders into a jittery mood, from the price correction to the market fluctuations and now the staking arrangement.

The primary cause of unrest is the decision to stake a whopping $24 million in tokenized Solana locked on Lido, a staking platform. While staking is standard practice, this procedure is sketchy as stakeholders were unaware of the platform’s financial unsustainability and faulty smart contract. Recently, these stakeholders were informed that Lido had ceased operation, and the staked $24 million remains trapped.

Since the stakeholders became aware, Solana has recorded a 22.1% decline in the past month. While Solana stood at $190 before the halving, it has dropped to $147.29 and might fall further in the coming days.

You might also like: Fezoo’s Stage 1 presale becomes a hotspot for Kusama and TRON fans

Fezoo draws interest and attention with 20x returns

Crypto investors and traders have been seeking a viable and reliable alternative to centralized exchanges for a while now. No wonder there has been increased interest and attention around Fezoo, as it presents a decentralized exchange platform where traders can connect and transact for just $0.013 with a 20X return.

Currently, in the presale stage, Fezoo holders will completely control their funds when they set up their wallets by entering their email addresses and usernames. When you invest in Fezoo at its presale, you enjoy lower trading fees and can use trading bots to make copy trades. This trading bot helps you prompt your trade orders instead of manually putting them.

Fezoo offers a sophisticated VIP program that rewards users for their trading activity. Unlike other exchange platforms that charge for every trade, Fezoo encourages more trading by offering rewards and kickbacks. The more you trade, the higher your rewards and the more you can move up the ranks. And the cherry on top? More trading on Fezoo can attract up to a 70% kickback.

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

Read more: Fezoo exchange to disrupt crypto trading with support from Stellar and Uniswap communities

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.

Rebel Satoshi is a new meme coin on Ethereum with RBLZ and RECQ tokens. It aims to disrupt the market, offering staking, NFTs, and gaming. 

The RBLZ presale had a 150% ROI, and the RECQ presale (Stage 1) surged 85% to $0.0037.

Binance burned nearly 1.95 million BNB tokens worth $1.17 billion, aiming to reduce the total supply to 100 million. Such burns boost token value. BNB traded between $278 and $345 until February, surged 110%, and then consolidated around $610.

Solana surged 88% in six months and 56% in 2024, ranking among the top 10 altcoins. Its network handles over 30% of daily crypto transactions. Nubank’s integration allows ETH, BTC, and SOL transactions, boosting SOL’s adoption and value.

In this overview, we dive into three significant developments that are shaping the crypto sphere: Rebel Satoshi’s RECQ disruptive entry into the meme coin space, Binance’s strategic token burn initiatives with BNB, and Solana’s impressive performance and integration into mainstream finance through Nubank. Although BNB and Solana are surging, investors are turning to Rebel Satoshi’s RECQ to balance their portfolios.

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RECQ: Redefining meme coins 

Rebel Satoshi is the latest entrant in the top meme coins space and is hosted on Ethereum’s network. Notably, Rebel Satoshi operates using a dual-token concept featuring RBLZ and RECQ.

In that context, the project strives to unleash a decentralized revolution in the market inspired by the ideals of Satoshi Nakamoto and Guy Fawkes. Rebel Satoshi is designed to challenge the centralized market forces and take back control of the crypto market from the elites.

Rebel Satoshi is not a simple meme coin. It has a large and active ecosystem that is designed to enable it to reach a $100 million market cap in the market. 

Notably, Rebel Satoshi’s ecosystem features staking pools, exclusive merchandise, a cool NFTs vault, and a gaming arcade. The two tokens, RBLZ and RECQ, govern this ecosystem. During its RBLZ presale, Rebel Satoshi generated a 150% ROI and is now conducting its RECQ presale.

RECQ’s token presale is now in Stage 1, valued at $0.0037 after surging 85% from the starting price of $0.0020. Hence, the current RECQ investors will enjoy a profit of 237.8% and might even begin the next bull market. This has made RECQ one of the best altcoins to buy and enjoy massive returns.

Binance’s strategic token burn fuelling BNB’s value

On April 23, 2024, the Binance Foundation completed its 27th quarterly BNB token burn executed by BNB Chain. In this process, 1,944,452.51 BNB tokens were burned, valued at nearly $1.17 billion at the time of the burn.

The Binance burn happens every quarter and is completed automatically with the assistance of the Auto-Burn formula. The main aim of the process is to reduce the total supply of BNB tokens to 100 million. Currently, the total supply is at 149,532,856 BNB tokens.

Top altcoins initiate such burns to boost their prices by reducing supply, which increases the value of BNB tokens. BNB displayed a neutral trend by trading in a closed range between $278.00 and $345.50 until mid-February. As volatility in the market intensified, BNB gained 110% before encountering rejection near $635.15. Since then, BNB has been trading in a consolidated range between $506.55 and $635.15.

On April 24, BNB was trading at $610.69, up 11.56% in the past week. Experts say BNB will rise to $642.05 by the end of April, supported by bullish momentum in the market. Hence, it is a good crypto to buy now.

You might also like: SOL, SHIB shines post-halving as investors eye Rebel Satoshi Arcade

Solana’s resilient performance and mainstream adoption

In the past six months, Solana has enjoyed a strong performance, marking an 88% surge and a remarkable growth of over 56% since the start of 2024. Solana features among the top 10 altcoins list and has maintained a strong presence in the Layer-1 blockchain industry. Notably, based on the latest analytics, Solana’s network is handling over 30% of daily crypto transactions.

Elsewhere, from April 22, 2024, Nubank announced that app users will have full access to execute deposits and withdrawals involving Ethereum, Bitcoin, and Solana. The bank guarantees that its app’s main crypto screen will display these features, supporting a smooth user transaction process.

The incorporation into the Nubank app will increase Solana’s adoption rate. Analysts believe that these developments and partnerships will propel Solana towards new heights.

On April 24, Solana was trading at $157.75, up 15.05% in the past week. Experts believe Solana will rise to $173.65 by the end of April, supported by developments and partnerships on its network. Thus, it is one of the best altcoins to invest in.

To learn more about this project, visit the Rebel Satoshi website or join the community. 

Read more: Rebel Satoshi emerges as SOL, LINK investors’ choice as halving excitement ends

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.

Solana (SOL) integrated CCTP, enhancing blockchain interoperability. The SOL price surged by 24% and is expected to reach $190 by June 2024.

The Fetch.ai (FET) community backs the ASI alliance, which aims to unify tokens for a centralized AI platform. The FET price increased by 41% and is expected to rise further.

The Milei Moneda (MEDA) presale raises millions at $0.0125, targeting 60% growth by the May 21 launch. 

While the crypto market prepares for the next bull run, Solana (SOL), Fetch.ai (FET), and Milei Moneda (MEDA) emerge as key players in DeFi, AI, and meme coins. Each of these top crypto coins offers unique opportunities for investors to capitalize on innovation and potential gains.

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Solana’s CCTP Integration: fostering interoperability and innovation

In March 2024, Solana integrated Circle’s Cross-Chain Transfer Protocol (CCTP), significantly enhancing interoperability within the blockchain space. This integration allows developers within the Solana ecosystem to swap USDC tokens seamlessly with Ethereum and other prominent blockchains. By embracing CCTP, Solana reaffirms its dedication to fostering a more interconnected DeFi landscape, reinforcing its position as one of the top DeFi projects. 

This development led Solana to move up on the charts over the past few weeks. Moreover, this development could further pump the SOL price to the $190.00 region by June 2024.  

Moreover, this strategic integration positions Solana as a key player in the ongoing efforts to improve cross-chain interoperability and amplify the utility of digital assets. It also underscores the crucial role of collaboration in propelling innovation and adoption within the cryptocurrency industry amidst its continuous evolution. 

Fetch.ai’s community backs ASI Alliance proposal with AGIX and OCEAN

The Fetch.ai community has overwhelmingly supported the proposal to join the Artificial Superintelligence Alliance (ASI), with over 99% of members endorsing the initiative. 

This marks the most significant governance effort on the Fetch network, garnering a remarkable 99.8% approval rate. Spearheaded by SingularityNET, Fetch.ai, and Ocean Protocol, the ASI aims to unify AGIX, FET, and OCEAN tokens into a single ASI token to establish a centralized AI platform amid growing industry competition. 

Meanwhile, the voting process, spanning multiple blockchain networks, saw active participation from each community. Fetch.ai’s involvement underscores its commitment to advancing AI and blockchain technology.

As the alliance progresses, Fetch.ai is positioned to lead innovation in the evolving AI landscape, leveraging collective expertise and resources to drive transformative change. 

This development has seen FET exhibit an upward trajectory on the charts in April 2024. Experts are optimistic that a continuous surge will take the price of Fetch.ai to the $3.00 region, proving to be a good crypto to buy. 

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Milei Moneda presale raises millions

Milei Moneda has captivated investors, raising millions in its presale phase at $0.0125, with a potential 60% ROI upon its May 21 Uniswap launch price target of $0.020. 

This potential top ten cryptocurrency combines deflationary tokenomics, community engagement, and meme culture, distinguishing itself in the crypto sphere. Inspired by Argentine President Javier Milei, it embodies defiance, economics, and humour, making it a unique investment proposition. Moreover, with a total supply of 500,000,000 MEDA tokens, MEDA aims for broad community participation and transparency. 

As it gains traction, Milei Moneda presents an enticing opportunity for both seasoned investors and newcomers seeking significant returns as the best crypto investment. Whether it’s about economic freedom or decentralized finance, Milei Moneda stands out as the best crypto to invest in 2024. 

Conclusion 

As the cryptocurrency market continues to evolve, Solana, Fetch.ai, and Milei Moneda stand out as promising assets, demonstrating strong growth trajectories and innovative approaches. Therefore, investors seeking diverse opportunities in DeFi, AI, and meme coins should consider these projects for potential gains in the ever-changing crypto landscape.

To learn more about this project, visit the Milei Moneda presale website or join the community.

You might also like: SOL, ETH surge while Milei Moneda presale continues to attract investors

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.

NuggetRush (NUGX), a new GameFi project, is attracting players and investors.

Jupiter’s JUP token, launched in January 2024 on Solana’s blockchain, offers a unique blend of liquidity aggregation and perpetual futures backed by community governance via the JUP token. 

Sui’s collaboration with BytePlus brings cutting-edge Web3 solutions, boosting the adoption of Sui’s blockchain. Sui Overflow’s funding doubled to $1 million, attracting global developers. SUI’s value surged to $1.40, with experts projecting a rise to $1.77 by April-end. 

NuggetRush is a leading NFT gaming project with a soon-to-launch mining game, attracting players and investors in the play-to-earn sector. It offers unique gameplay in a mineral-rich ecosystem, rewarding players with high returns.

The launch of Jupiter’s JUP token on January 31, 2024, sent shockwaves through the cryptocurrency market, drawing attention to its innovative approach and potential. On the other hand, Sui’s strategic collaboration with BytePlus and the success of Sui Overflow were bolstered by a doubling in funding. 

Yet, NuggetRush’s emergence as a dominant force in NFT gaming captured the imagination of investors. Here is why Jupiter and Sui’s investors are turning to NuggetRush.

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Jupiter: Transforming crypto with decentralization, governance, and growth

Jupiter launched its JUP token on January 31, 2024, and caused a buzz in the entire crypto market. In that context, Jupiter launched on Solana’s blockchain as a liquidity aggregator for token swaps but has since expanded to feature perpetual futures. Jupiter’s governance token, JUP, enables community members to vote on critical decisions about the platform’s operations and developments.

Interestingly, Jupiter gave away a huge amount of its digital tokens worth about $700 million to a million crypto wallets to promote decentralization. Jupiter’s airdrop ranks among the biggest giveaways in the crypto space, making it one of the best new cryptos to invest in. Notably, the team designed the platform in a manner that the people using Jupiter (JUP) get rewards for participating and using the platform.

In February 2024, Jupiter gained 200%, but after the crypto crash, it lost over 40% of that value. However, Jupiter has since stabilized to trade at $1.21 on April 23, 2024, up 22.46% in the past week. Experts say JUP will rise to $1.35 by the end of April, supported by increased demand for the token. Thus, it is a good crypto to buy today.

Sui powering web3 innovation with BytePlus partnership

Sui recently collaborated with BytePlus, ByteDance’s technology division, to offer BytePlus services and solutions for Web3 social and gaming platforms. Additionally, the partnership will also encourage the increased use of Sui’s blockchain.

Interestingly, Sui has also seen funding for Sui Overflow, the first-ever global virtual hackathon that focuses on developing new and remarkable products on Sui’s blockchain, which has doubled recently with supporters contributing funds.

Originally set at $500,000, after massive support from external backers, Sui Overflow’s funding pool increased to $1,000,000. The large rewards pool is attracting developers from around the world to create products on Sui’s network and present them to a panel of judges. With all these developments, SUI surged significantly.

On April 23, 2024, SUI was valued at $1.40, up 21.48% in the last week. Experts believe SUI will rise to $1.77 by the end of April, supported by developments on its network. The growth potential enables it to rank among the top altcoins in the market.

You might also like: Analyst: Bitcoin to hit $650k; Terra Classic pool balance hits 5B as NuggetRush gains momentum

NuggetRush revolutionizing NFT gaming

NuggetRush is an NFT gaming project that has dominated the crypto industry since it was launched. Its mining game attracted players and investors because of the growing interest in the play-to-earn industry. NuggetRush features distinct physical utilities integrated into a mining adventure. 

Interestingly, NuggetRush players explore a mineral-rich ecosystem that makes the project’s gameplay worthwhile.

Investors and gamers are interested in NuggetRush since it is an ideal opportunity to make money from a cool NFT gaming platform. Notably, this platform has been developed for players who love thrillers and adventures, with a promise of potentially high rewards. 

Completing different NuggetRush challenges entails the use of entrepreneurial NFT characters and skilled miners. Each character has unique capabilities, meaning the kind of characters you select will affect your mining efficiency.

Gamers with increased efficiency qualify for highly attractive rewards. However, NuggetRush enables participants to boost their mining efficiency. NuggetRush players can upgrade their efficiency by training better workers and buying efficient equipment. Completing group tasks and joining mining pools enhance a player’s mining efficiency.

NuggetRush’s launch on Uniswap created a buzz in the crypto space, with the token’s profit prospects surging, making it one of the best crypto investments. Early NUGX investors are guaranteed to make huge profits as the project executes and achieves milestones, helping increase its value considerably.

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

Read more: XRP, VeChain predicted to surge as NuggetRush gains GameFi spotlight

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.

The well-designed AI-based altcoin Borroe Finance (ROE) from the Polygon Blockchain looks bullish with its innovative approach to DeFi (Decentralized Finance).

A chain of events, including technology issues and just the general volatility of the market, led Solana, a top blockchain platform that stands out for its speed and affordability, to go through some challenges. 

Solana’s challenging week

Solana has earned a name recently for its speedy transaction times and scalability, which has lured developers and projects from other blockchain ecosystems. Despite this, Solana (SOL) has been in a difficult period, with its price down 1.5% on a daily basis and 13.5% on a monthly basis.

Users have reported occasional outages and slow transaction processing times, which have raised doubts about Solana’s reliability, and as a result, users’ trust and investors’ sentiments have been shaken.

In a wider picture, Solana’s performance is part of a larger trend, and the overall crypto market has demonstrated resilience since the start of the year.

However, Solana’s main advantage is its ability to handle thousands of transactions per second, which makes it a good choice for users and developers who are looking for instant and cheap transactions. This has resulted in Solana being adopted into more projects, including a plan for Helium, a decentralized wireless network, to transfer from its own blockchain to Solana.

The recent price movement of Solana has not affected the underlying strength of its fundamentals, which include a strong ecosystem and continuous development efforts. 

Presently, Solana (SOL) is trading at $148.92, with a crypto market cap of over $66 billion.

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

Borroe Finance (ROE) Presale 

Borroe Finance (ROE) is seizing the opportunity to innovate and accelerate the development of DeFi. 

Borroe Finance’s presale has been the focus of great interest, with those participating in it looking ahead to a bright future for the project. The ongoing final presale stage of the token, which is valued at $0.020 for each ROE governance token, points to a growing excitement among investors to trade on the best cryptocurrency exchanges.

The fundamental strategy of Borroe Finance (ROE) is based on long-term profit-making, which ensures that the coins do not lose their value over time. This is a holistic approach supported by AI-powered solutions.

Borroe Finance (ROE) is a unique platform that features AI-based funding and a multichain NFT marketplace with discounted rates for artists, startups, and brand builders while also targeting investors and collectors.

A primary determinant of the platform’s preparedness for enormous strides is the project’s confidence in its ability to disrupt the web3 status quo and the traditional pool of capital in the digital world.

Besides the fast and easy approach to capital raising, Borroe Finance (ROE) is another exception. It has a built-in NFT marketplace where content creators can gain rewards and raise funds for expansion.

Borroe Finance’s focus on Artificial Intelligence underscores its potential to compete in the digital asset space over the long term. By integrating advanced technology, Borroe Finance offers a unique proposition that positions it well for future growth and investor interest.

The project objective is to pioneer the phasing out of conventional financing routes and the commencement of the digital-age fundraising revolution in the Web3 era, thus establishing a platform in line with the main principles that is fair, open, and easily accessible by the participants.

The target audience for ROE’s token is viewing the privilege of getting a high APY as a big advantage. It can be illustrated by the example of the ongoing presale when the coin moved from $0.010 to its current price.

The ROE governance token operates as a deflationary currency aimed at keeping the whole amount of tokens low when running a transaction by burning just a small part of them so as to preserve scarcity.

You might also like: SOL, DOGE show modest gains as Borroe Finance steals the spotlight

The main benefit of this method of investment is that it is supposed to incorporate long-term investors, those who are more inclined to Hodling their assets.

Borroe Finance (ROE), under Maxim Prishchepo and Michael Price’s rule, has embodied the concepts of transparency and standard of work.

As evidence of Borroe Finance’s (ROE) efforts to build trust with its community and to strengthen confidence in its operations, the company engaged the services of BlockAudit to verify the integrity of its smart contracts and also made the smart contracts publicly visible. 

Notably, Borroe Finance (ROE) has successfully raised more than $3.9 million, and it will rise further when it lists on DEXs! 

To learn more about this project, visit the Borroe Finance presale website or join the community via Telegram | Twitter 

Read more: As Shiba Inu and Avalanche falter, investors turn to Borroe Finance

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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.

You might also like: Artists face $9m penalty in Yuga Labs, Bored Ape copyright lawsuit

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%.

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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.

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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