Hychain Games will release a closed beta version of its Minecraft-inspired web3 video game Hytopia this month after the developer earned $8 million from node sales, according to a statement. . According to a statement from Hychain Games, the company allows users to contribute to the security and functionality of the layer 2 blockchain, also called Hychain, “while earning rewards from a pool of $250 million worth of TOPIA tokens.” Additionally, “In just 48 hours after announcing the node sale, Highchain generated 2,098 ETH ($8 million at the time of sale), and 254 ETH ($1 million) was distributed to creators.”The…
Author: Crypto Flexs
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Ethena Labs completed a massive $450 million token airdrop, with top wallets receiving $1.96 million in Ethena tokens as they hit major exchanges. Ethena Labs conducted an extensive airdrop campaign on April 2, distributing $450 million worth of Ethena tokens to several eligible wallets. The airdrop, a common strategy used by cryptocurrency projects to increase token distribution and engage the community, was completed at 7:17 AM (UTC), after which the tokens were listed on various reputable centralized exchanges. The largest portion of the airdrop went to wallet 0xb56, which received 3.3 million Ethena tokens worth about $1.96 million. This significant…
Spot Bitcoin ETFs experience fluctuating outflows.Cathie Wood’s ARK 21Shares Bitcoin ETF (ARKB) recorded daily outflows of $87 million, surpassing Grayscale’s Bitcoin Trust (GBTC) for the first time since the launch of a spot Bitcoin ETF in the United States. This is ARKB’s second consecutive outflow, bringing total asset losses to $300,000 on April 1.Consistent leakage of grayscaleGrayscale has faced steady daily outflows since converting to a spot ETF, with recent daily outflows reaching $81.9 million. This is a relatively low level compared to the average outflow of $254 million over the past five trading days. In total, Grayscale has recorded…
The decentralized finance (DeFi) protocol maker (MKR) is considering allocating up to $600 million worth of stablecoin DAI to the USDe market, Ethena’s synthetic dollar. last week maker placed 100 million DAI on Spark’s sUSDe/DAI and USDe/DAI markets on Morpho Blue, a lending protocol for Ethereum (ETH). According to Maker, this move enabled “over-collateralized scalable liquidity for users interested in increasing exposure to Ethena assets.” On Monday, a Maker Forum contributor recommended that the protocol allocate an additional 500 million DAI to Morpho’s lending infrastructure on staked USDe and USDe/DAI markets. A proposal released by BA Labs, a member of…
John Deaton, an XRP advocate running for Senate in Massachusetts, has made serious allegations against incumbent U.S. Senator Elizabeth Warren, as discord escalates in politics and cryptocurrency circles. Deaton’s campaign, which launched in February, positions him as a Republican challenger to Warren, a Democrat known for her tough stance on cryptocurrencies. Pro-XRP Lawyer Deaton Goes Into Attack Mode through name In Deaton’s accusations center on allegations that Warren failed to investigate or address SBF’s connections between him and various regulatory and government figures, despite new details about SBF’s trial and his political donations. “Sam Bankman-Fried now claims he didn’t know…
After a service outage in October 2023, $24 million worth of tokenized Solana (stSOL) was locked on Lido due to a smart contract error. Approximately $24 million worth of tokenized staking Solana (stSOL) was inadvertently locked on the Lido platform due to a smart contract incident. stSOL tokens represent staked Solana that users could previously lock up to earn profits. This incident highlights the inherent risks associated with operating complex smart contracts in the blockchain and DeFi sector. Lido, a decentralized finance (DeFi) protocol, was a leading service that gave users the opportunity to stake Solana (SOL) tokens in exchange…
The highly anticipated Wormhole airdrop appeared to gain attention across cryptocurrencies on Wednesday, with the protocol’s native token rallying more than 10% after falling nearly 25%.After surging to a high of $1.66 as of 7:46 a.m. ET, Wormhole’s token has since fallen nearly 25%, hitting $1.25 about two hours after the 7:30 a.m. ET airdrop, according to CoinGecko. As of this writing, Wormhole’s token has rallied more than 10% and is trading at $1.50 as of 1:01 PM ET. At the time of writing, trading volume exceeded $17 million, according to CoinGecko data.Parallel to Wormhole’s fluctuating price, the airdrop attracted…
The Bitcoin halving, which takes place over four years, will reduce rewards for miners, impacting cryptocurrency trading, profitability, market dynamics, and price volatility. This can create positive sentiment, attract institutional investors, and benefit various participants in the cryptocurrency ecosystem. that much bitcoin halving A significant event that can affect the cryptocurrency market in various ways, influencing supply and demand dynamics, miner profitability, market speculation, and long-term price trends. Traders and investors closely monitor the halving event and its potential impact on the markets to make informed decisions and navigate the evolving landscape of the cryptocurrency market. What is Bitcoin Halving?…
The following is an excerpt from the latest edition of Bitcoin Magazine Pro, Bitcoin Magazine’s premium markets newsletter. To be the first to get these insights and other on-chain Bitcoin market analysis delivered to your inbox, Subscribe now. With Bitcoin’s next halving scheduled for this month, miners are using their record profits to adapt their business models to the disruptive opportunity. Halving is almost here. As the entire Bitcoin world waits with bated breath for mining rewards to be halved, the potential for new revenue streams has left many wondering how the Bitcoin space will react to new market conditions.…
RWA is still in its infancy, but BlackRock’s move could increase momentum. Securitize founders believe mainstream adoption is possible once RWA reaches $1 trillion. Carlos Domingo, founder and CEO of Securitize, reiterated that tokenized real assets (RWA) will gain momentum once it reaches the $1 trillion milestone. Domingo, whose company handles the redemption and placement of BlackRock’s tokenized BUIDL Fund tokens, Emphasize that; “For tokenized real-world assets, I think we are in the early stages, just like we were with previous cryptocurrencies. Even with the addition of stablecoins, we still haven’t reached the $200 billion/$300 billion level.” He added, “As…