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
- Gunzilla x OpenSea
- Zeta Markets Unveils $Z Token and Airdrop Details
- Solana’s Transaction Failures to be Addressed
- Project of the Day
- Crypto Corner
- Regulatory Scrutiny
- Business and Political Insights
Market Watch
Top Gainers
- Nervos Network ($CKB): +5.8%
- Bittensor ($TAO): +5.9%
- Fantom ($FTM): +1.8%
Top Losers
- dogwifhat ($WIF): -16.8%
- Wormhole ($W): -14.4%
- Aptos ($APT): -12.4%
Trending Crypto Sectors/Categories
- Base Meme Coins
- Real World Assets (RWA)
- Layer 1 (L1)
Total Crypto Market Cap – 2.694 Trillion
Fear and Greed Index – 78
Top NFT Sale
- Bong Bear #27 Sold for 100 WETH
Highlights of the Day
Gunzilla x OpenSea
Gunzilla Games, the innovative powerhouse behind the eagerly awaited first-person battle royale experience, Off the Grid (OTG), is making waves in the gaming industry with its latest partnership announcement. In a bold move to empower players with true in-game ownership, Gunzilla Games is teaming up with OpenSea, a leading NFT marketplace, to integrate its revolutionary GUNZ blockchain platform into the OpenSea ecosystem.
Partnership Details
Through the partnership, players of Gunzilla’s forthcoming title, Off the Grid, and any future games developed on the GUNZ blockchain, will have the exciting opportunity to trade in-game assets on the OpenSea marketplace. What’s more, transactions will be conducted using the game’s native $GUN token, adding a layer of seamless interaction within the gaming ecosystem.
Zeta Markets Unveils $Z Token and Airdrop Details
Zeta Markets, a key player in the decentralized derivatives scene on Solana, is generating buzz with its latest announcement – the launch of the $Z token and an accompanying airdrop. This strategic move underscores Zeta’s commitment to building a community-driven protocol and strengthening its foothold in the rapidly expanding Solana ecosystem.
$Z and its Utility
The $Z token, set to debut in May, will serve as the governing token for the Zeta Markets platform. With a total supply of 1 billion $Z tokens, Zeta has earmarked 10% (100 million) for distribution through an airdrop. This distribution will benefit active traders, strategic communities within the Solana ecosystem, and stakers in the Zeta ecosystem.
Solana’s Transaction Failures to be Addressed
Solana, a leading blockchain network renowned for its high throughput and scalability, recently encountered a surge in transaction failures attributed to an implementation bug. This unforeseen setback has prompted concerns within the community regarding the network’s reliability. However, Solana developers have swiftly responded, assuring users that the issue will be effectively addressed with an upcoming patch upgrade scheduled for April 15th.
Upcoming Patch Upgrade
The recent uptick in transaction failures on Solana was traced back to an implementation bug rather than a fundamental flaw in the protocol design. Developers are diligently working to rectify this issue, emphasizing that the forthcoming patch upgrade will restore stability to the network and mitigate the impact of transaction failures.
Project of the Day
Nervos Network
Nervos Network ($CKB) is gaining traction in the blockchain world with its open-source public blockchain ecosystem. It utilizes a proof-of-work (PoW) framework and integrates Layer 2 (L2) networks from the start, emphasizing scalability and efficiency. The network aims to establish a peer-to-peer (P2P) crypto-economy, providing users with access to various secure blockchain services and features.
The market performance of $CKB has been remarkable, with a current market cap of around $1.5 billion and a price close to $0.03. Over the past 7 days, $CKB has shown consistent upward trends, boasting a nearly +300% change. Looking at a longer-term perspective since February, the token has surged impressively by +900%. This surge reflects investor confidence and indicates significant bullish potential for the project’s long-term prospects.
Crazy Day in Crypto
- Solana leads Ethereum in stablecoin payment volume, comprising 63.6% of the total compared to Ethereum’s 26.6%, yet analysts highlight scalability concerns for broader consumer payments.
- Telegram denies claims by CertiK of a vulnerability in its desktop app, allegedly allowing remote code execution via media files.
Regulatory Scrutiny
- Senator Elizabeth Warren warned House lawmakers about the dangers of stablecoins, emphasizing the need for stringent regulations to prevent illicit finance and ensure safety if integrated into the formal banking system.
- Senator Tim Scott accuses the Biden administration of using crypto as “scapegoat” to mask failures in combating illicit finance, ignoring larger sources like Iran’s oil exports.
- Deputy Secretary Adewale Adeyemo of the US Treasury Department seeks expanded authority to combat illicit crypto activity, proposing sanctions on foreign firms, broader regulatory coverage, and addressing jurisdictional risks from offshore platforms.
Business Talks & Political Insights
- Senator Cynthia Lummis addressed the Bitcoin Policy Summit in Washington D.C., highlighting the potential for elections to influence the Senate Banking Committee towards a more favorable stance on cryptocurrencies.
- The SEC’s delay on approving an ETH ETF leaves issuers skeptical, with BlackRock, Fidelity, and VanEck expecting more delay ahead of the upcoming May deadline, potentially impacting the growing ETH demand.
