Author: Dren.H

Ethena Labs USDe stablecoin rapidly hits a $2 billion market cap, leveraging a synthetic dollar model amidst market volatility concerns. Ethena Labs has launched a new stablecoin, USDe, which has achieved a market capitalization surpassing $2 billion in record time. This milestone sets USDe apart as the fastest-growing dollar-pegged asset in the history of cryptocurrency. The stablecoin’s attractive yield of 17.2% has not only drawn attention but also sparked comparisons to Terraform Labs’ UST. Unlike UST, which relied on a circular backing of its token and algorithmic adjustments, USDe is marketed as a “synthetic dollar,” providing a distinct approach to…

Coinbase’s Base sees a surge in user activity and memecoin security concerns following the Dencun upgrade that lowered Ethereum layer 2 fees. Following the recent Dencun upgrade, which significantly reduced fees on Ethereum layer 2 solutions, Coinbase’s rollup, Base, has seen an unprecedented spike in user engagement, transactions, and total value locked (TVL). This surge mirrors the activity observed on the fast and affordable Layer 1 blockchain, Solana, primarily driven by speculative trading in memecoins. Many users flock to these platforms with hopes of substantial financial gains from minimal investments. Memecoin on Base A recent investigation has raised serious concerns…

Hong Kong launches Bitcoin and Ether ETFs, amidst diverse crypto developments and innovations in Asia. Hong Kong’s financial landscape is about to transform significantly with the introduction of new Bitcoin and Ether ETFs. The city’s Securities & Futures Commission (SFC) has recently given the green light to these spot ETFs, raising questions about their potential impact on the Asian investment market. Will these ETFs be a game-changer, ushering in substantial capital inflow from Asian investors, or will they fade into obscurity in the vast financial sector? Leading Chinese asset management firms, including Harvest Fund Management, Bosera Asset Management, and China…

Hip hop and blockchain intersect, empowering artists with independence and innovation beyond traditional music industry constraints. Fifty years ago, DJ Kool Herc’s groundbreaking set at a Bronx party marked the birth of hip hop, a genre that has since revolutionized music and culture globally. Initially, music labels and radio played gatekeepers, deciding which artists made it big. However, the landscape has transformed dramatically. Today, armed with just a smartphone, talented individuals can record their music, cultivate a fanbase, and carve out lucrative careers right from their bedrooms. In recent years, the surge in cryptocurrency and NFTs, especially during the bull…

Wealth management firms may increase Bitcoin ETF holdings amid growing demand and competitive shifts in the market. The cryptocurrency market could see a major shift, especially in the Bitcoin exchange-traded funds (ETFs) arena, where major wealth management firms are expected to increase their holdings considerably. This prediction, voiced by Hunter Horsley, CEO of Bitwise, suggests a positive trend following the recent Bitcoin halving event, which typically sparks increased activity and interest in cryptocurrency investments. The U.S. Bitcoin ETF market has recently experienced notable positive inflows, demonstrating a burgeoning demand for Bitcoin as an investable asset. This trend aligns with a…

Mark Cuban discusses the impact of Bitcoin halving on mining profitability and the rising competition for GPUs due to AI. Industry experts including billionaire investor Mark Cuban are evaluating the broader implications of Bitcoin Halving, particularly concerning Bitcoin mining and the expanding demand for GPUs due to AI advancements. The halving slashed the mining rewards from 6.25 to 3.125 BTC, effectively halving miners’ income as well. Mark Cuban, renowned for his roles with the Dallas Mavericks and “Shark Tank,” has shed light on the pressing concerns surrounding the halving event. He highlights that the reduction in rewards will undoubtedly make…

Victory Securities discloses fees for upcoming Bitcoin and Ether ETFs in Hong Kong, despite pending official approvals. Ahead of official approvals, Victory Securities, a Hong Kong-based investment firm, has preemptively revealed the fee details for its forthcoming Bitcoin and Ethereum exchange-traded funds (ETFs). This disclosure comes at a time when the Securities and Futures Commission (SFC) of Hong Kong has not yet finalized the list of sanctioned ETF issuers. Victory Securities has set its sights on charging investors fees ranging from 0.5% to 1% for primary market transactions involving shares of Bitcoin and Ethereum ETFs. These fees will apply if…

Ether price rises due to capital shifts post-Bitcoin halving, whale activity, and strong technical support levels. Ether (ETH) is leading today’s cryptocurrency market rally with a notable 4.25% increase in price, surpassing $3,200 as of April 21. This surge comes amidst a broader market uptrend that has seen the total crypto market capitalization climb by 3.5%. Today’s performance highlights Ether dominance, especially in comparison to Bitcoin (BTC), after the recent Bitcoin halving event. The subsequent sections explore the dynamics fueling Ether’s rise against the broader market and Bitcoin specifically. Capital Rotation Boosts Ether Significant capital inflows from the Bitcoin market…

Grayscale launches a Mini Bitcoin ETF with fees significantly lower than its GBTC to attract investors amid substantial outflows. Grayscale Investments recently announced the launch of a new Mini Bitcoin ETF, promising significantly lower fees than its current Grayscale Bitcoin Trust (GBTC). The proposed fees for the Grayscale Bitcoin Mini Trust will be 0.15%, a drastic reduction from the 1.5% fee charged by GBTC. This move positions the new ETF as the most affordable among the 11 spot Bitcoin ETFs approved since January. Notable competitors include Franklin Templeton and Bitwise Bitcoin ETF, with fees of 0.19% and 0.20%, respectively. Despite…

Telegram introduces mini-apps with Tether USDT, enabling seamless crypto transactions for its 900 million users. Telegram could revolutionize the user experience for its 900 million users through the introduction of mini-apps that incorporate Tether USDT stablecoins, seamlessly integrating cryptocurrency transactions into everyday activities without the typical complexities associated with crypto exchanges. This integration allows users to engage in peer-to-peer interactions, e-commerce, and access to paywalled content directly through Telegram’s interface, making it a first-time crypto encounter for many that goes completely unnoticed. At the recent Token2049 conference in Dubai, TON representatives shared insights on how this new functionality supports not…