USDT, USDC, and BUSD represent 93% of stablecoin market cap

The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap. Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD (BUSD) — have seen significant growth over the past six months to represent a combined capitalization of more than $60 billion, equal to 92.75% of the stablecoin market. By contrast, six months ago the combined…

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Solana (SOL) price rises as airdrops attract new users to the network

Solana price has rallied more than 50% this month as new projects conduct airdrops on SOL blockchain and high Ethereum fees push investors to seek cheaper alternatives. Over the past six months blockchain projects that have issued token airdrops have re-emerged. Most notably, the airdrops by Uniswap (UNI) and MEME will be remembered as recipients were rewarded with gains ranging from $20,000 to $600,000 simply for holding the tokens. One Ethereum (ETH) competitor that has seen numerous projects launch with airdrops in the past three weeks is Solana (SOL), an open-source…

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Ripple becomes tidal wave, leads weekend pump and notches legal victories

As Ripple fends off SEC lawyers, XRP enjoys an explosive weekend pump Amid a weekend pump carrying multiple cryptocurrencies higher, Ripple’s XRP looks to be leading the way with a push as high as 30% on the daily — carried on the back of a string of legal victories and rumors of relisting at some exchanges.  Where Bitcoin and Ethereum are up merely 2.7% and 3.4% respectively on the day, XRP climbed to $1.36 before retreating to $1.32, where it sits at the time of publication. The digital currency is…

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Enterprise-level partnerships send VeChain (VET) price to new highs

Real-world use cases and enterprise-level partnerships are just a few factors behind VeChain’s recent breakout to a new all-time high. Real-world partnerships and integrations into thriving industries are some of the best forms of validation for blockchain projects that are seeking long-term sustainability and widespread adoption. They also have the ability to spark rallies that trigger long-term price appreciation as brand awareness spreads.  Since February enterprise-level adoption and a wide array of use cases have worked in favor of VeChain (VET), a blockchain-powered supply chain platform that seeks to use…

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Our Man in Shanghai: Scandal as $45M of stolen government funds lost using 100X leverage

The Chief Marketing Officer a blockchain security company has been charged with embezzlement; Peter Thiel calls Bitcoin a ‘weapon’ of China (but no one cares), and CZ’s net worth rises to $1.9 billion. Blockchain security company Beosin has been the focus of a major scandal after its Chief Marketing Officer Gao Ziyang was taken into custody and charged with embezzlement of state-owned assets. He is alleged to have been using government funds to unsuccessfully short BTC, resulting in a massive liquidation of over 300 million renminbi, or $45 million dollars.…

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Miners are hoarding Bitcoin from record daily earnings

Miners are back in accumulation mode, with 5,000 BTC added to Bitcoin’s unspent supply since the start of February. Bitcoin miners are stashing away their coins for higher prices, with direct transfers from miners to exchanges plummeting nearly 40% since mid-March. Data from on-chain analytics provider Glassnode shows that miners’ BTC balances have been increasing since late March, following heavy outflows throughout January and consistently reduced selling during February and earlier in March. Glassnode CTO Rafael Schultze-Kraft, notes several metrics pointing to recent miner accumulation — including flows from miner…

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Coinbase’s first quarter revenue hits record $1.8B ahead of its Nasdaq listing

Coinbase raked in $1.8 billion revenue in the first quarter of this year according to new figures released one week prior to the company’s public listing on the Nasdaq. Coinbase has announced impressive first quarter results one week before the exchange’s direct listing on the Nasdaq, estimating that trading volume is up 276% and quarterly revenue has hit $1.8 billion. The bountiful revenue, revealed in the company’s Q1 earnings call, dwarf its $190 million revenue from the same time last year with the company attributing a portion of this explosive…

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Celebrity VC fund unveils $1m NFT contest judged by Snoop Dogg and Mark Cuban

If your NFT idea is innovative enough, Snoop Dogg, Mark Cuban, Ashton Kutcher, and other celebrities could invest $1 million into it as part of a Shark Tank-style contest. Sound Ventures, a venture capital fund comprising celebrities, musicians, and a billionaire, are offering at least $1 million for the “most innovative” idea for a nonfungible token, or NFT over the next week. Announced on April 5, the event invites anyone from around the world to pitch their NFT project to a team of eight judges before April 12. According to…

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Users of top Indian crypto exchange report seeing ‘0’ funds during outage

“The load on our systems are way too much,” said CEO Nischal Shetty. Major Indian crypto exchange WazirX experienced disruptions caused by system failures for more than four hours Sunday.  In a tweet at 5:24 PM UTC, WazirX CEO Nischal Shetty reported that the crypto exchange had “hit some internal limits” set by one of the infrastructure providers. The load on Wazir’s system reportedly created “a ripple effect on all the services,” causing some of the exchange’s 1.8 million users to report being unable to see any funds in their…

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‘Silent crash’ as price floors collapse across NFT space

Prices are plummeting, and some holders might not even know it If prices plummet in an illiquid market, how soon before anyone notices? While fungible tokens traded on centralized and decentralized exchanges have significant transparency regarding price movements, nonfungible tokens can be harder to track. Because of their illiquid nature, gauging the sentiment of the overall market market for a project can be difficult — a dynamic that has led one eGirl Capital member, Mewny, to dub NFT corrections ‘silent crashes.’ i really like @mewn21 phrasing of NFT crash as…

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