Pepe the Frog Meme Coins Rocket as Crypto Twitter Moves Over Dogecoin Obsession

Send Time：2024-04-18 13:10:25

Users who held assets on bankrupt crypto exchange FTX and lender Celsius Network can now trade their claims on the Open Exchange (OPNX). According to a press release, claims can be converted into the platform's reborn OX (reOX) or oUSD tokens. This offers immediate liquidity, control over funds, and the chance to participate in market opportunities. The tokens can be used as collateral to trade on OPNX. The platform was co-founded by CoinFlex's Mark and Leslie Lamb alongside Three Arrows Capital's Kyle Davies and Su Zhu. Three Arrows Capital was one of the first dominos to fall in last year's cryptocurrency bear market. Edited by Sheldon Reback.Arkham Intelligence, an on-chain data provider, has launched a bounty marketplace called the Arkham Intel Exchange, which will allow users to buy and sell on-chain cryptocurrency data. The marketplace will feature a native token, ARKM, that is designed to 'deanonymize the blockchain.' The token will be issued on the Binance Launchpad with 50 million tokens up for sale, which equates to 5% of the total supply. Each user will be able to buy $15,000 worth of ARKM tokens in the sale, which runs from July 11 to July 17. The new platform uses a bounty mechanism that lets users post 'bounties' for sought-after data, and blockchain researchers and sleuths can then source and provide information in return for the pledged bounty. However, concerns have been raised by several privacy advocates on Twitter about the potential risks of deanonymization. Arkham has raised over $10 million from two rounds of equity financing, with the latest round at $150 million, and 5% of the token supply is allocated to the token sale. The company also plans to distribute ARKM tokens to early adopters of the data intelligence dashboard through an airdrop on July 18. Edited by Parikshit Mishra.GoldenTree Asset Management has moved the majority of its SUSHI token holdings, sparking fears in the Sushi community that it is exiting its position. At press time, GoldenTree's crypto wallet held just $1 million in SUSHI tokens, a precipitous drop from its nearly $7 million in exposure earlier this week. The move comes as Sushi, a decentralized exchange for trading cryptocurrencies on the Ethereum blockchain, faces fresh scrutiny from U.S. regulators. SUSHI is the governance token for Sushi DAO and gives its holders a voice in how the exchange operates. It was trading at $1.22 immediately before Tuesday's news but has fallen 11% in the days since and was around $1.08 at press time, according to CoinGecko. A GoldenTree employee who goes by MarkOKW, who last October announced the firm's SUSHI investment, didn't immediately comment. Grey declined to comment on GoldenTree's SUSHI position. On-chain activity reveals how GoldenTree has shuffled its holding in recent days. The asset manager started the week with xSUSHI tokens worth over $7 million. Then on Wednesday, it swapped 4.4 million of those tokens for 5.95 million SUSHI tokens that it had staked with Sushi. CoinDesk identified the wallets using Nansen. On Wednesday night and Thursday morning, it sent two batches of tokens valued at $5.4 million total to an address controlled by crypto trading desk Cumberland. Cumberland sent the first half to a Binance deposit address Wednesday night; the other half hadn't moved out of Cumberland's wallet at press time. Members of SUSHI's Discord server speculated the on-chain activity indicated GoldenTree had already sold its position.Cryptocurrency casino Stake appears to have been targeted by a exploit, with on-chain analyst Cyvers reporting that $16 million has been withdrawn on the Ethereum network following a 'private key leak.' Blockchain sleuth ZachXBT backed up Cyvers' claim, stating that $15.7 million had been drained on Ethereum and another $25.6 million had been lost across Polygon and the Binance Smart Chain. The stolen funds have been converted to ether (ETH) and transferred to several externally owned wallets, Cyvers said. The Stake wallet that was targeted still holds $340,000 worth of ETH and $2.1 million in various altcoins, Etherscan data shows. Withdrawals from the wallet appear to have been paused, which is also a claim made by several users on Twitter. Stake is an Australian casino and sportsbook that allows users to deposit and play with cryptocurrencies. It made $2.6 billion in revenue in 2022, according to a Financial Times report. Stake did not immediately respond to CoinDesk's request for comment.The newly launched zkSync Era blockchain is seeing brisk activity as value locked on the network crossed $100 million this past weekend amid a flurry of new token releases. Data from L2Beat shows over $69 million worth of ether (ETH) and nearly $30 million in USD coin (USDC) stablecoins have been locked on zkSync. The amount is likely distributed among several zkSync-based projects for purchasing ecosystem tokens or providing liquidity to exchanges on the network. The value locked on zkSync has climbed to over $100 million. More than 3.3 million transactions have been conducted on the network since it went live on March 24. The network can process 4.4 transactions per second. The network supports 'ZK rollups,' which are a type of blockchain scaling system based on cryptography known as zero-knowledge proofs. These features are seen as a key advance in speeding up blockchain transactions and reducing the cost of network activity. Populating the zkSync ecosystem are decentralized-finance tokens, which power lending, trading, and borrowing services, and meme coins fashioned after the popular Shiba Inu dog breed. DefiLlama data shows that decentralized exchanges SyncSwap and Mute hold over $30 million in locked tokens. Mute's native MUTE tokens have a market capitalization of $47 million. SyncSwap hasn't issued tokens as of early April. Over $19 million is locked on SyncSwap's liquidity pool for USDC and ether - which is paying annualized yields of 46%, or one of the highest figures in the crypto market as of Monday. As such, meme coins are making a mark as well. DEXScreener data shows tokens such as ZKDoge, ZKInu, and ZkSync SHIB have attracted millions of dollars in trading volumes since their recent launches. Traction on these meme-coin tokens has been tepid so far, with highly volatile prices and market capitalizations of under $5 million. Some say the zkSync launch has been muted relative to the hype, however. 'The recently launched zkSync Era mainnet is a sign that the evolutionary trend in the overall blockchain ecosystem is unimpeded; however, the low number of projects building on it is a sign that the Web3.0 world isn't fully prepared to welcome this innovation for now,' Maia Benzimra, head of institutional marketing at SpoolDAO, said in a Telegram message. Benzimra added that adoption may surge quickly as and when more innovative projects are built for users. 'The trend can change within the twinkling of an eye when innovative products building solutions that address the core needs of users are designed and launched. zkSync is notably a major upgrade for addressing the scalability of the Ethereum protocol, and in no time, it is bound to find its rhythm and carve out a functional niche for itself in the ecosystem.' Edited by Parikshit Mishra.

The attackers behind the recent $35 million exploit of crypto wallet Atomic Wallet are moving stolen funds via OFAC-sanctioned exchange Garantex, according to blockchain security firm Elliptic. The infamous North Korean hacking group Lazarus is believed to be responsible for the hack, and the stolen funds have been laundered through a bitcoin mixer service called Sinbad. Nearly $35 million worth of various tokens were stolen from Atomic Wallet on June 3, including bitcoin, ether, tether, dogecoin, litecoin, BNB coin, and Polygon's MATIC. Garantex, which was sanctioned by the Office of Foreign Assets Control (OFAC) last year for its lax anti-money laundering measures, continues to operate and has allowed the hackers to freely move the stolen funds. Several crypto exchanges have already frozen addresses related to the Atomic Wallet hack, but some funds have found their way to Garantex. The bitcoin was then laundered through Sinbad, a bitcoin mixer service allegedly used by North Korean hacking groups. The incident highlights the ongoing risks of hacking and money laundering in the cryptocurrency space.Sandwich bots are front-running punters of newly issued tokens such as pepe (PEPE) and chad (CHAD) – meme coins with no intrinsic value that caught wind of Crypto Twitter degens almost overnight as the tokens zooted over 10,000%. A sandwich attack, traps a user's transaction between two transactions, which is then further manipulated to gain profits. This is done by front-running the victim's trade by buying the same asset, and then selling tokens to the victim in the same trade for a slightly higher price. Sandwich attackers aren’t typically a form of exploit but are looked upon in crypto circles as a type of predatory behavior, which skims value from users, leads to a spike in gas fees and doesn’t benefit either the network or the user. The victim might not notice it, but for sandwich bots the gains can run into millions of dollars as they target thousands of wallets and skim a few dollars each time. A wallet named “Jaredfromsubway.eth,” a likely nod to the popular sandwich chain, has spent over $2 million in the past week on Ethereum network fees trying to sandwich traders punting on predominantly low-cap tokens. That has driven up fees of the entire network, data from Dune Analytics shows. Each transaction on the Ethereum network costs over $10 as of Asian morning hours on Wednesday – ten times more than last week’s $1 level. Gas fees have spiked. (Dune) The actions of Jaredfromsubway.eth mean they spent 7% of all fees on Ethereum in the past 24 hours, the data shows, becoming the top spender on the network. That is ahead of fees spent by Arbitrum, a layer 2 blockchain that batches transactions on the Ethereum network, and Uniswap, the most-used decentralized exchange. It is unclear how much Jaredfromsubway.eth made from their front-running actions, but given they spent a significant amount – and continue to do so – the gains likely exceed costs by a significant amount. As such, research firm Sealaunch has estimated Jaredfromsubway.eth's gains at over $1.4 million since Tuesday, as per a tweet. Meanwhile, the pepe frenzy is on in full force. Pepe tokens nearly doubled in value in the past 24 hours as Crypto Twitter traders moved over their DOGE-themed token obsession to bet on the internet meme instead, as CoinDesk reported. Scores of pepe wannabes have popped up as well, as have chad, wojak, and babypepe – each a nod to internet memes. Most of these are unlikely to last beyond a few weeks. But unlike then, entities like Jaredlikesubway.eth is eating the gains while fresh.The floor price of the Bored Ape Yacht Club (BAYC) collection has slumped to a five-month low of 55.59 ether (ETH), according to Cryptowatch data. The slide in non-fungible token (NFT) prices occurred after pseudonymous holder 'franklinisbored' said on Twitter that he sold the majority of his collection. On-chain data shows that the user sold at least 27 BAYC NFTs over a 12-hour period, securing 1439.5828 ETH ($2.8 million) in the process. Franklinisbored explained his decision was due to 'unfortunate' real-life issues that prompted him to liquidate his NFTs. He fell victim to a rug pull on a nearly 2,000 ETH investment, which appeared 'credible' due to who else had invested in it. ApeCoin (APE), the native governance token for the Bored Ape Yacht Club ecosystem, remains flat over the past 24 hours in terms of its dollar valuation despite falling against ether trading pairs.Rook's well-funded offshoot Incubator DAO is holding a vote on its financial future where the organization could liquidate its entire $25 million treasury for payouts directly to ROOK token holders. The vote, which runs through Thursday, considers a proposal to 'rage quit' Incubator DAO by divvying up its $25 million treasury among holders of the ROOK governance token. The vote is being orchestrated by activist investors who for weeks have debated the future of Rook (an Ethereum-based MEV project) on Discord. The prospect of ROOK owners receiving a share of the money has contributed to a tripling of ROOK's value over recent weeks. It was trading at $42 at press time, slightly over the price that some community estimates have placed on each token's value relative to its share of the treasury.Burning USDC and minting DAI have become popular on-chain activities among crypto natives in the wake of the Silicon Valley Bank (SVB) shutdown. According to on-chain data from blockchain analytics firm Nansen, Circle's USDC stablecoin had nearly $3 billion in net redemptions between March 10th and March 13th, while the total supply of DAI increased by 1.2 billion tokens over the same time period. This has resulted in a 10% drop in USDC's market capitalization and a nearly 29% increase in DAI's market capitalization. The supply of DAI jumped 1.2 billion tokens since Friday, March 10th. The mass burn reversed Circle's early March trend where it had been minting more USDC than it was destroying. Between March 1st and March 9th, Circle minted a net average of $143 million USDC per day, but this trend has since changed. Starting on March 10th, Circle burned a daily net average of $727 million. Additionally, Nansen data shows that MakerDAO's Peg Stability Module saw a 91% increase in USDC deposits, jumping to $4.1 billion today from $2.1 billion on March 10th. The MakerDAO community is currently considering a governance proposal that would pause swaps in its Peg Stability Module, freezing the token purchases needed to mint new DAI tokens. Currently, USDC makes up 63.1% of the collateral used to generate all DAI in circulation, according to a DAI Stats dashboard.

A proposal to split Rook's nearly $50 million crypto treasury between Rook Labs and a new community-run entity called Incubator DAO is gaining traction, with the token price surging ahead of the vote. The proposal aims to divorce the project's tech from its governance token, and would see Incubator DAO inherit the old DAO's unique representative democracy structure. The move has been praised as a win-win for both Rook Labs and token holders, with the former gaining sufficient capital to develop products while the latter receives a return of value. The token itself has nearly tripled in value since late March, and the debate over the project's future has attracted investors of many stripes. Some have voted with newly-acquired bags, and the single-largest 'yea' position in the poll to create Incubator DAO was voted by a wallet controlled by insiders at crypto yield project TempleDAO. However, the TempleDAO wallet has already started selling some of its ROOK tokens on decentralized finance (DeFi) exchanges.Crypto traders are turning to over-the-counter (OTC) markets to source elusive liquidity following a regulatory crackdown that has resulted in a substantial decrease in market depth on centralized exchanges. OTC demand has been steadily on the rise since the collapse of FTX in November, with subsequent spikes being attributed to the collapse of several crypto lenders last year and more recently the SEC's decision to sue Binance. Market depth is a metric that measures liquidity by assessing how much capital would be required to move an asset in either direction, typically measured at a spread of 2%. Last month, Jane Street and Jump, two prominent market makers, announced that they were at very least reducing their trading activity, compounding the liquidity woes that had been felt since FTX's collapse. As a result, the OTC market, which allows traders to conduct large transactions without needing to go to an exchange, looks to be becoming more prevalent. We've been receiving a lot more [OTC] demand, spreads are tight due to daily recurring flow we have on both sides from payment providers, brokers and algorithmic traders. This trend is eerily reminiscent of the time after Mt Gox, the largest crypto exchange at the time, got hacked and subsequently ceased operations in 2014. Despite the largest exchange falling, the demand for digital assets continued, with peer-to-peer markets on exchanges like LocalBitcoins emerging as the champions of the 2014 bear market. But as crypto continued to thrust itself into the world of traditional finance, the stature of firms getting involved in the industry began to notably increase. By 2020, counterparties would no longer be an arbitrage trader on LocalBitcoins, and publicly-listed companies like MicroStrategy dealt directly with Nasdaq-listed exchange Coinbase. This week the world's largest asset manager, BlackRock, filed for a spot bitcoin ETF as it attempts to create a secure investment vehicle for funds and trading firms to gain crypto exposure. But until that is approved by the increasingly combative SEC, traders will have to turn back to OTC deals.Aave token holders have started voting on two governance proposals in response to the systemic liquidation risk posed by Curve founder Michael Egorov's large borrowing position on the lending protocol. The proposals, authored by on-chain risk management platform Chaos Labs, aim to disable the borrowing of CRV on Ethereum and Polygon V3, as well as reduce the liquidation threshold of CRV. The votes, which end on August 12, are direct responses to the averted liquidation threat posed by Egorov's lending positions on Aave, in which he deposited 34% of CRV's total market cap to borrow upwards of $63 million. The proposals have been motivated by the recent Curve exploit, which saw the price of CRV plummet and put Egorov's assets under liquidation pressure. Despite Egorov's efforts to pay off portions of his debt through OTC deals, the potential liquidation has prompted Aave token-holders to take action to prevent further risk. The proposals aim to disable the ability to short CRV via the Aave protocol and reduce the liquidation threshold for CRV, which would prevent crypto users from borrowing CRV to dump and further impact its price. Aave is currently trading at $67.78, while the price of CRV is 61 cents, per CoinDesk market data. Chaos Labs CEO Omer Goldberg indicated in the governance vote that the motivation behind one of the proposals is to disable the ability to short CRV via the Aave protocol. The votes have been prompted by the recent Curve exploit, which exposed serious risks in the DeFi ecosystem. The outcome of the votes could have significant implications for the future of Curve and the broader DeFi market.Crypto investors looking to earn yields on their ether (ETH) holdings have to wait nearly a month before they can be set up as network validators on Ethereum. Data from two sources show waiting times for staking ether lingers at 640 hours, or about 26 days. Exiting the network, on the other hand, takes just 0.013 hours, or less than a minute. As of May, nearly 50,000 validators are waiting in a 'queue' to be able to enter the network, data shows. The demand for validators to enter the network and earn the nearly 5% annual yield is likely stemming from large ether holders who do not want to cash out and instead just want to earn some passive income on their holdings. Some market watchers say these upcoming validators could be a mix of both new market entrants as well as stakers who previously unstaked ether from the network to test if the process works seamlessly and are now entering again. Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that occurred simultaneously on April 12, gave investors the ability to withdraw their staked ether at will for the first time. As such, staking deposits have surged in the past few weeks. More than 200,000 ether were deposited to the network last week, marking the first time deposits had outpaced withdrawals since Shapella went live last month. These additions have brought the number of ether locked for staking purposes to over 19 million tokens – about 15% of the total circulating supply.Synapse's native token, SYN, recovered from a 25% slump on Monday after a liquidity provider sold 9 million tokens. The protocol, which transfers data to cross-chain bridges, rebounded 17% to $0.358. The sell-off was attributed to a liquidity provider identified as Nima Capital. The protocol's total value locked (TVL) is $113 million, according to DeFiLlama. Despite the recovery, the token has lost some gains and is currently trading at $0.358. The protocol's team has stated that there was no security breach of the protocol or bridge. The sell-off was attributed to a liquidity provider identified as Nima Capital. Volume of SYN trading ballooned in the days following the sell-off, with over $25 million being recorded in the past 24-hours. The protocol has a TVL of $113 million, according to DeFiLlama. Nima Capital had not responded to an email request for comment by publication time.

Nansen, a blockchain data analytics firm, has launched Nansen Query, a platform that allows clients to programmatically access unique, curated datasets pulled from Nansen’s databases. The new product aims to help firms perform blockchain analyses more efficiently by demystifying on-chain transaction history and pricing data. It promises to offer users a complete overview of markets to value “up to 60 times faster than competitors.”nnThe product provides coverage for 95% of all on-chain total value locked, or TVL, asset data and 98% of stablecoin deposit data across 17 blockchains, including Ethereum, Polygon, Arbitrum, BNB Chain, Avalanche, Optimism, Ronin and Solana. Nansen Query differs from Nansen’s base-level offering by pairing data with the company’s proprietary and trading indicators like the “wash trading filter,” which helps identify suspicious on-chain activity by scanning trades between several linked wallets and transactions bounced between various trading counterparties. Nansen’s labeling system achieves that goal by facilitating firms’ analyses of on-chain data, which, while recorded on a public ledger system, can sometimes be difficult to access. nnA query is a request for data from a database or a request for action on that data that allows users to edit large information sets and identify trends among them. A programming language, like SQL, is used to create a query. Nansen’s data analytics tools, which were released in 2019, have gained traction among firms throughout the cryptocurrency industry, including prominent players like Coinbase (COIN), OpenSea, MakerDAO, Polygon, Avalanche and Andreessen Horowitz.The recent rise of the meme coin bald (BALD) has raised questions about the involvement of Sam Bankman-Fried, the founder of Alameda Research. On-chain data suggests that the deployer contract of BALD has interacted with wallets linked to Alameda, and crypto sleuths have found connections between Bankman-Fried's Alameda Research and the deployer wallet. However, it is unlikely that Bankman-Fried is behind the scam, as he is currently under strict bail conditions and has limited access to the internet. The article also explores the connections between BALD and other DeFi projects, and the sudden removal of liquidity from the token's trading pairs. The rise of BALD and its subsequent fall has left many holders in the lurch, and the future of the token remains uncertain.Crypto investors looking to earn yields on their ether (ETH) holdings have to wait nearly a month before they can be set up as network validators on Ethereum. Data from two sources show waiting times for staking ether lingers at 640 hours, or about 26 days. Exiting the network, on the other hand, takes just 0.013 hours, or less than a minute. As of May, nearly 50,000 validators are waiting in a 'queue' to be able to enter the network, data shows. The demand for validators to enter the network and earn the nearly 5% annual yield is likely stemming from large ether holders who do not want to cash out and instead just want to earn some passive income on their holdings. Some market watchers say these upcoming validators could be a mix of both new market entrants as well as stakers who previously unstaked ether from the network to test if the process works seamlessly and are now entering again. Shapella, a portmanteau of Shanghai and Capella, two major Ethereum network upgrades that occurred simultaneously on April 12, gave investors the ability to withdraw their staked ether at will for the first time. As such, staking deposits have surged in the past few weeks. More than 200,000 ether were deposited to the network last week, marking the first time deposits had outpaced withdrawals since Shapella went live last month. These additions have brought the number of ether locked for staking purposes to over 19 million tokens – about 15% of the total circulating supply.Community members are vying for a new model to bolster revenue and sustain a peg to the U.S. dollar for Terra Classic, the original network created by Terraform Labs. The proposed model relies on token buybacks, unidirectional swaps, staking, and an 'algorithmic peg divergence fee' to address the issues with the original design. The fees retained by the protocol would be used to buy back USTC and maintain the peg, and a USTC staking tool is proposed to drive capital to the token and increase its price appreciation. The community believes that a fully-decentralized token is necessary to create a decentralized economy, and hopes to bring the project back to its glory days despite its previous implosion. Edited by Stephen Alpher.Gitcoin, a crowdfunding platform for open-source software, has voted to seed initial liquidity for its Staked ETH Index (gtcETH). The move aims to provide a steady stream of income for the organization to fund grants for digital public goods. The index is composed of three tokens from top liquid staking protocols on Ethereum: Lido, Rocket Pool, and StakeWise. Token holders of gtcETH will incur an annualized streaming fee of 2%, with 1.75% allocated to the Gitcoin decentralized autonomous organization (DAO) and the remaining amount to Index Coop. The move comes as Gitcoin shifts its grants program to exclusively run on 'Grant Stacks,' a decentralized, customizable, smart contract-enabled solution that connects grants program managers, project owners, and community members. The decision was announced in January and is expected to provide a consistent revenue stream to help fund grants. According to the governance forum discussion on funding gtcETH, the index could provide Gitcoin with a reliable source of income to support digital public goods, which often lack a clear profit motive and can be difficult to fund. The gtcETH vote received almost unanimous support from the Gitcoin community, with 98.5% of voters in favor of the proposal. The move is seen as a positive development for the open-source software community, as it provides a new way for supporters to contribute to the funding of digital public goods while earning rewards from a diversified set of liquid staking tokens.

Crypto Casino Stake Targeted in Reported $40M Exploit

Bitcoin price today eth price usd

Bitcoin price

Tron (TRX) founder and Huobi stakeholder Justin Sun has accused Li Wei, the brother of Huobi founder Li Lin, of acquiring Huobi's native token (HT) at zero cost and selling it for 'huge amounts of cash.' The token has lost 43% of its value over the past seven days but has recovered by 3.16% following Sun's tweets. Sun told CoinDesk that Li Wei 'received millions of HT tokens for free' when the token was initially distributed and that he believes in rewarding those who 'genuinely contribute to the growth and development of HT DAO.' HT is currently trading at $2.80 with a market cap of $450 million. CoinDesk did not immediately receive a response from New Huo Tech, the company that Li Lin is now chairman of. Over the past few months, Justin Sun has taken on a leadership role at Huobi, with plans to attain a license in Hong Kong and roll out a new exchange called Huobi Hong Kong.Ether (ETH) jumped to a nine-month high on Wednesday, with open interest in ether futures reaching $5.6 billion, as investors anticipate the upcoming 'Shapella' upgrade, which will allow for the withdrawal of staked ether. The development is expected to make staking more accessible to retail investors, who have been relying on liquid staking platforms to capture yields from staking ether on Ethereum nodes. Liquid staking tokens, such as LDO and RPL, have surged ahead of the upgrade, with the LSD sector jumping 6% on average. The broader crypto market capitalization rose by a relatively lesser 3%. The article highlights the growing interest in decentralized staking products and the potential for future growth in the sector.

btc price Ethereum price

deBridge, a cross-chain bridging service, has launched DLN Trade, a cross-chain exchange offering capital-efficient and fast native trading across various blockchains. The app supports Ethereum, Arbitrum, Polygon, Fantom, BNB Chain, and Avalanche, and uses a global liquidity engine to create a decentralized order book, enabling any asset on one chain to be traded directly to any asset on another without the bottlenecks and risks of liquidity pools. This allows for unprecedented speed, capital-efficiency, and control for users, with trades protected from slippage, MEV, and the possibility of reversion, and guaranteed rates as low as 4bps. Users can also set cross-chain limit orders and cancel at any time before fulfillment. The app makes it possible for users to trade across chains without exposure to wrapped assets or liquidity pools, unlike other services on the market. Edited by Oliver Knight.Layer 1 blockchain protocol Avalanche is picking up steam, reaching a six-month high in daily active addresses earlier this week. According to blockchain data firm Artemis.xyz, Avalanche's daily active addresses hit nearly 80,000 on April 12. Its daily active user base grew 85% in the past 90 days, making it one of the fastest-growing protocols, ahead of BNB Chain, Tron, Ethereum, Aptos, and Bitcoin. Only four protocols grew faster, per Artemis: StarkNet, Arbitrum, Stacks, and Canto. The high-water mark coincided with Avalanche's April 12 partnership with a bevy of financial institutions that will contribute to its network infrastructure, signaling traditional finance companies' increased interest in the Avalanche ecosystem. The price of Avalanche's native token AVAX stands at $18.53 at press time, down 1.34% in the past 24 hours, per CoinDesk data. Avalanche is the seventh-largest blockchain by total value locked, which currently sits at $878.7 million, according to crypto stats website DefiLlama. Edited by Danny Nelson.

Ethereum price today eth price

eth price today

Ethereum scaling blockchain Arbitrum has distributed over $120 million worth of its arb (ARB) tokens to projects built on the network, with some projects selling their allocation immediately, while others plan to use it to strengthen their development and user engagement. The airdrop, which was based on network activity and number of wallets, was sent to over 131 decentralized autonomous organizations (DAOs), with NFT marketplace TreasureDAO and gaming-focused TridentDAO receiving the largest allocations. Some projects, like Vesta Finance, plan to use their airdrop to bolster their development, while others, like PlutusDAO, will use their allocation in multiple ways to make their project stronger. The airdrop has spurred both excitement and criticism from the community, with some projects selling their tokens immediately, while others are holding onto their allocation in anticipation of future growth.Aerodrome, a product by Velodrome in collaboration with Base developers, has attracted over $150 million from users just a day after going live on Base. The platform hopes to act as a 'business development protocol' for the Base ecosystem, supporting projects as they launch, onboarding new projects and tokens, and generating liquidity for the ecosystem. Aerodrome rewards its AERO tokens to platform users who provide liquidity, conduct swaps, or participate in governance. The platform's creators hope to emulate the apparent success of Velodrome, one of Optimism network's most used platforms which holds over $288 million in locked value. The approach seems to be working so far, with Velodrome generating platform revenues of over $3 million in the past month. Aerodrome's features create a flywheel of liquidity, as users are attracted to rewards, purchase more AERO, and keep the platform running by continually voting on which project's tokens to support, add, and further reward. The platform's locked veAERO are represented as NFTs, which can then be traded on different NFT marketplaces. Users can use the veAERO tokens to take part in platform governance and help set the reward levels of trading pools offered on the platform. In return, these voters receive 100% of all fees and bribes received by the specific pools that they voted for.