It has been a busy day in terms of news, so let us catch you up on the latest and greatest.

Today’s Agenda:

• Market Watch
• Highlights of the Day
  • Activision Blizzard’s X Breach
  • Starbucks is Discontinuing its Web3 Rewards Program
  • Ethereum’s Co-Founder Advocates for a Shift Towards L2s
• Project of the Day
• Crypto Corner
• NFT News
• Business and Political Insights 

Market Watch

Top Gainers

• Jupiter ($JUP): +31.6%
• Sei ($SEI) : +19.9%
• Conflux ($CFX): +15.9%

Top Losers

• NEAR Protocol ($NEAR): -15.2%
• Bonk ($BONK): -12.9%
• SingularityNET ($AGIX): -11.6%

Trending Crypto Sectors/Categories

• Asset-Backed Tokens
• Launchpad
• Layer 1 (L1)

Total Crypto Market Cap – 2.792 Trillion

Fear and Greed Index – 83

Top NFT Sales

• CryptoPunks #5668 Sold for 65 ETH 

• CryptoPunks #2513 Sold for 54 ETH 

• CryptoPunks #2568 Sold for 51 ETH 

Highlights of the Day

Activision Blizzard’s X Breach

On Thursday night, hackers exploited the official X account of gaming giant Activision Blizzard, known for publishing popular franchises like Call of Duty and Diablo. They utilized the account to promote a fake Solana meme coin named $ATVI, falsely representing it as an official token launch endorsed by Activision Blizzard.

Immediate Response and Damage Control

In the wake of the breach, Activision Blizzard swiftly took action to address the situation. The company promptly issued statements clarifying that the promoted cryptocurrency was unauthorized and cautioning followers against engaging with it. 

The Ongoing Battle for Online Security

The breach serves as a stark reminder of the constant battle against cyber threats faced by organizations across industries. Despite implementing robust security protocols, no entity is entirely immune to exploitation by determined hackers. Moving forward, it is imperative for companies like Activision Blizzard to remain vigilant, fortify their defenses, and prioritize transparent communication to maintain trust and safeguard their digital presence in an increasingly interconnected world.

Starbucks is Discontinuing its Web3 Rewards Program

In a recent update, Starbucks announced the closure of its Starbucks Odyssey beta platform by the end of March. Let us delve into the details

What is Starbucks Odyssey?

Introduced in late 2022, Starbucks Odyssey serves as an extension of the existing Starbucks Rewards program. Accessible via regular Starbucks Rewards login credentials, members engage in “quests” consisting of interactive games and challenges aimed at deepening their coffee knowledge and Starbucks experience. Upon completion, members received a digital collectible “quests stamp” in the form of an NFT.

Details of the Announcement

Starbucks will shut down the Odyssey platform on March 31, with quests available until March 25. The closure of the Starbucks Odyssey Discord server is set for March 20. Moreover, the company has not provided any clear indication of a planned return for this program.

What’s the Reaction Like?

Overall, all the users who participated in this rewards program feel a little disappointed by this move. Some of the OGs of the Odyssey community feel as though they were breaking ground with this initiative and attracting the mainstream audience to Web3. Many are genuinely surprised by the announcement, as the program encouraged more frequent visits to Starbucks.

Ethereum’s Co-Founder Advocates for a Shift Towards L2s

In a recent gathering, Vitalik Buterin has advocated for a significant shift towards Layer-2 scaling solutions in Ethereum’s developmental trajectory. This recommendation comes hot on the heels of the Dencun upgrade, a substantial improvement aimed at addressing critical concerns within the Ethereum ecosystem. Let us explore Vitalik’s vision for Ethereum’s future.

What Concerns Does the Dencun Upgrade Address?

The Dencun Upgrade, spearheaded by nine Ethereum Improvement Proposals (EIPs), has primarily focused on tackling the issue of soaring gas fees. Gas fees have been a persistent issue for users and developers on the Ethereum network. Consequently, this innovation promises a substantial reduction in gas fees for L2 transactions, incentivizing wider adoption of secondary scaling solutions on the Ethereum network.

Vitalik’s Comments

Vitalik Buterin’s recent comments, delivered at the ETH Global’s Pragma London event, echo the sentiment of embracing Layer-2 solutions as pivotal to Ethereum’s evolution. While acknowledging the significance of the Dencun upgrade, Buterin emphasized that scalability improvements will be incremental rather than instantaneous. 

Call to Action

Buterin’s call to action for Ethereum developers and enthusiasts resonates with the ethos of continuous innovation. He encourages embracing an “Ethereum 2.0” mindset, leveraging cutting-edge protocols and technologies, including Layer-2 rollups, to build decentralized applications (dApps) that are not only efficient but also prioritize user privacy.

Project of the Day

Jupiter Exchange

Jupiter Exchange is revolutionizing the Solana ecosystem with its advanced swap aggregation engine and comprehensive DeFi product suite, including Limit Order, DCA/TWAP, Bridge Comparator, Perpetuals Trading, and recently introduced value-average feature to auto-invest.

At the heart of Jupiter’s ecosystem lies its governance token, $JUP, which empowers community members to actively participate in shaping the platform’s trajectory. With $JUP, users gain the ability to approve liquidity and emission plans, sanction token mints post-genesis, and vote on pivotal projects for ecosystem initiatives.

In addition to all the features introduced on the platform, it is important to highlight that there is a lot going on in the Jupiter ecosystem. Most notably, Jupiter has recently introduced two groundbreaking initiatives that have led to the current surge in price of the $JUP token. These initiatives include Active Staking Rewards (ASR) and the community-driven JUP DAO, both of which underline Jupiter’s commitment to innovation and decentralization within the DeFi space.

Crazy Day in Crypto

• Over the last 24 hours, the cryptocurrency market has witnessed $800 million in liquidations, that took Bitcoin below $67,000, consequently dragging the entire crypto market into the red zone.
• MicroStrategy has raised its recent convertible debt offering to $525 million to acquire more Bitcoin, to which JP Morgan analysts have warned about the company’s extensive debt-funded Bitcoin purchases and the potential for extreme market volatility.
• Over the last 24 hours, Solana’s $JUP has outperformed all other top 100 cryptocurrencies. 
• Hong Kong authorities have issued a warning to crypto exchange MEXC for operating without the necessary license.

What’s Poppin with NFTs?

• Yuga Labs has announced a limited-edition commemorative Koda Camera POAP, exclusively available to those who attended the Apes Come Home event, providing a token of appreciation for their participation in the memorable experience on Bored Ape Island.
• Yuga Labs has announced that users who made their first trip to Otherside have received a metadata update for their NFTs, which now includes a special First Trip Obelisk piece. 

Business Talks & Political Insights

• Paris Hilton’s Roblox venture, “Slivingland,” garnered over 3.2 million visits, reflecting the influence of a $60 million advertising campaign.
• Sam Bankman-Fried is facing prosecutors who are advocating for a 40-50 year prison sentence, and his trial is scheduled for March 28.
• El Salvador moved over $400 million in Bitcoin to cold storage, demonstrating their confidence in the long-term credibility of BTC and its capacity to serve as a reliable store of value.
• JPMorgan’s analysis reveals Bitcoin’s 3.7x dominance over gold in investment portfolios, when adjusting for volatility.