🦎🚀 The Water Flows 💧

Thursday, May 4, 2023

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Suiiiiii

Highly-anticipated Sui blockchain network built by former Facebook developers has officially launched on mainnet.

The Sui network is a Move-based, layer-1 blockchain developed by Mysten Labs, who formerly worked for Facebook's now-defunct Novi project.

The Sui Foundation collaborated with centralized exchanges such as Binance, OKX, Kucoin and Bybit to launch their $SUI token.

In today's news, the Feds announced the continued rate hikes, Curve Finance launches its native stablecoin and inaugural NFT insider trading case in US legal courts.

Read on!

Meme Coin Countries

US, India and UK are leading the meme coin craze by far this year, driving a combined 60.2% of the interest.

While Shiba Inu was the most popular in most of these countries, Philippines and Nigeria have a more unusual meme coin interest profile – people there have been curious about Floki, among others.

24h Hot Searches Worldwide

ChainGPT (-9.9%)
Sui (-36.7%)
Bitcoin (+1.4%)
Pepe (+28.1%)
Dynex (-1.5%)
ArbDoge AI (+5.2%)
Arbitrum (+1.2%)

Losing your money to a sudden dip or rise in the market? 💸

This video explains short and long squeezes and how they reflect the risk of trading!

Check it out here!

Not the 'Up Only' we wanted

The United States Federal Reserve's Federal Open Market Committee (FOMC) has announced an additional 25 basis points increase to the Fed Funds Rate.

The rate hike is the latest in a year-long string of increments by the Federal Reserve, bringing the targeted interest rate range to 5% to 5.25%.

While inflation has dropped from nearly a double-digit pace a year ago to 5%, it is still above the Fed's target of 2% — which may suggest further rate hikes are necessary.

CoinDesk

Curve Launches Stablecoin

Decentralized finance (DeFi) protocol Curve Finance has launched its native algorithmic United States dollar-pegged stablecoin, crvUSD, on Ethereum mainnet.

Blockchain explorer Etherscan revealed that more than $22 million of the token has been minted, with $20 million being minted within the first five minutes.

The stablecoin is inaccessible by the public, with access pending Curve's front-end user interface to be refreshed.

Cointelegraph

Ex-OpenSea Exec Convicted

Former head of product of flagship NFT trading marketplace OpenSea, Nathaniel Chastain, was convicted of fraud and money laundering for using insider knowledge to trade NFTs.

Prosecutors accused Chastain of buying NFTs he decided to feature on the marketplace's homepage and selling them shortly after, making an alleged $50,000 in illegal profit.

The United States Department of Justice cited the case against Chastain as the first insider trading scheme involving digital assets.

Decrypt

Core is a self-custody crypto wallet and web portfolio with real-time data and analytics on DeFi 🔐

Let's explore its key features such as its user-friendly interface, cross-chain transaction signing capabilities, and more!

Check it out here!

In this latest piece from Footprint Analytics, we look at the different types of Web3 games and GameFi's progress from early games centered on DeFi principles all the way to AAA games and their focus on high-quality graphics and playability.

Read it here.