In this recap of the crypto world, let us explore the events and news that had the most significant impact in the past week. Our focus will be on the following developments:
● The Wild Ride of Memecoin Presales
● Cardano Making Waves
● Robinhood Redefines Crypto Accessibility with New Android Wallet
● Epic Games Store Coming to Android and iOS Users
● Guild of Guardians Set for Global Launch
The Wild Ride of Memecoin Presales
The recent surge in Memecoin presales on the Solana blockchain has captured a lot of attention from market participants. With over $150 million collectively raised in presales, fueled by the astounding success of “The Book of Memes” ($BOME), the phenomenon has sparked both enthusiasm and concern within the crypto community.
This all started when $BOME, starting with a humble valuation of around $4 million, rapidly ascended to a peak market cap exceeding $1.4 billion in a mere three days. This meteoric rise acted as a catalyst for the launch of several other Memecoin projects, each accumulating substantial sums in presales. Among these, notable projects include:
- $SMOLE: $30 million
- $LADYS: 18.7 million
- $NAP: $10 million
- $LIKE: $10 million
- $SLERF: $10 million
- And numerous others
While the surge in Memecoin presales presents opportunities for investors seeking exponential gains, it also raises significant concerns within the crypto space. Some voices within the community criticize the rise of Memecoins, labeling the presale phase as the “peak of degeneracy.” They argue that such ventures dilute the credibility of the broader crypto market and may lead to speculative excess.
Moreover, Anatoly Yakovenko, co-founder of Solana, voiced his concerns on Twitter regarding the substantial amounts of SOL being tied up in Memecoin presales. Urging investors to exercise restraint, Yakovenko highlighted the risks associated with speculative behavior driven by hype. While acknowledging the role of Memecoins in generating interest in Solana, he underscored the importance of responsible investment practices to mitigate potential financial losses. Read more on this here.
Cardano Making Waves
In a recent announcement, the Cardano blockchain network has introduced its first fiat-backed stablecoin, $USDM. Rolled out by Mehen Finance on March 17th, this launch heralds a pivotal addition to Cardano’s ecosystem, addressing a longstanding gap compared to other major blockchain networks.
$USDM stands poised to revolutionize transactions on the Cardano network, offering holders the ability to mint and redeem assets seamlessly through fiat US dollars. Facilitated by the cutting-edge technology of fintech giant Plaid, this innovative stablecoin aims to secure money transmitter licenses and VASP licenses to ensure compliance with regulatory frameworks across jurisdictions.
In addition to this milestone achievement, Cardano founder Charles Hoskinson took to social media to provide a much-needed update on another cornerstone of the network’s development – Hydra L2. In the wake of concerns surrounding the project’s status, Hoskinson sought to allay fears and dispel misconceptions about Hydra’s trajectory.
Rumors emerged from discussions surrounding the exploration of alternative scaling technologies such as Hyperledger Firefly, leading to speculation about Hydra’s potential sidelining. However, Hoskinson’s clarifications underscored the pivotal role that Hydra continues to play in Cardano’s scalability roadmap, reaffirming its centrality in the network’s evolution. Read more on this here.
Robinhood Redefines Crypto Accessibility with New Android Wallet
In a bold move towards democratizing cryptocurrency access, Robinhood, the renowned trading platform, has unveiled its latest innovation – a crypto wallet designed exclusively for Android users. This announcement marks a significant milestone in Robinhood’s journey, signaling its commitment to expanding the reach of digital assets and empowering users with greater control over their investments.
Essentially, the launch of Robinhood’s crypto wallet for Android users is a strategic pivot that taps into the vast market segment dominated by Android, which commands approximately 70% of the global smartphone user base. By extending its services to Android users, Robinhood effectively broadens the accessibility of crypto assets, positioning them more prominently within the mainstream.
At the heart of this new offering are a host of features designed to enhance user experience and foster greater engagement with cryptocurrencies. This includes:
- Self-Custody – Users can manage their private keys, ensuring complete control and security over their assets.
- Multi-Chain Support – The wallet supports various cryptocurrencies across different networks.
- Seamless Swapping – Easily exchange cryptocurrencies on multiple networks.
- Convenient Funding – Directly fund the wallet from Robinhood platform balances or other sources.
- Stay Informed – Users can stay ahead of market trends and the latest crypto news within the app.
It is important to highlight that Robinhood has announced future updates aimed at introducing additional tokens and features, including staking. This development is expected to enhance the platform’s utility and value proposition even more. Read more on this here.
Epic Games Store Coming to Android and iOS Users
In a move poised to reshape the gaming industry, Epic Games, the creative force behind blockbuster titles like Fortnite and Unreal Engine, has unveiled plans to extend its Epic Games Store onto mobile platforms by the end of 2024. This groundbreaking announcement signals a bold step towards creating the first-ever game-centric, multiplatform store that seamlessly integrates across Android, iOS, PC, and Mac, promising a transformative experience for gamers worldwide.
The expansion of the Epic Games Store onto mobile platforms represents a paradigm shift in the gaming landscape, as Epic seeks to transcend traditional boundaries and foster a more interconnected gaming ecosystem. With a curated selection of titles, including the wildly popular Fortnite, alongside offerings from third-party partners, the mobile version of the Epic Games Store promises to deliver a diverse and engaging gaming experience to users on the go.
At the core of this initiative lies Epic’s unwavering commitment to developers—a commitment exemplified by its revenue-sharing model, which mirrors that of its PC platform (88/12). By offering developers a significantly higher revenue share compared to traditional app stores, Epic aims to empower creators and foster innovation within the gaming community, while also introducing familiar programs such as Epic First Run and Epic Rewards to enhance user engagement and loyalty. Read more on this here.
Guild of Guardians Set for Global Launch
In a highly anticipated announcement that has sent ripples of excitement throughout the gaming community, Immutable Games has revealed that its mobile role-playing game, Guild of Guardians, is set for a global release on May 15th. This eagerly awaited title will be accessible to players worldwide through Apple’s iOS App Store and Google’s Android Play Store, marking a significant milestone in the world of mobile gaming.
Guild of Guardians promises to deliver an immersive and captivating gameplay experience, offering a free-to-play model that transports players into a world of fantasy adventures. From epic dungeon crawls to thrilling battles against formidable bosses, players will embark on exhilarating quests to amass valuable loot and claim victory.
With the May 15th launch date fast approaching, Guild of Guardians has opened its doors for pre-registration on both the App Store and Google Play. As an added incentive, early registrants will receive 10 complimentary summons upon the game’s release, offering a head start in their quest for glory and riches.
As the countdown to May 15th begins and pre-registrations continue to pour in, the excitement surrounding the Guild of Guardians only continues to grow. With its captivating storyline, engaging mechanics, and promise of endless adventure, Guild of Guardians is poised to redefine the landscape of mobile gaming and captivate players around the world.
