🦎🚀 Wen memecoin ETF? 🐶

Thursday, March 14, 2024

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Memecoins are back in full force, Geckos!

It has been an extremely green day for memecoins, from Doge to dogwifhat, to even politically related ones!

In today's news:

Another successful upgrade!
Higher and higher! 📈

Read on!

24h Hot Searches Worldwide 🔥

Ponke (+21.0%)
Open Campus (-1.4%)
GALA (-7.1%)
Orion (-3.0%)
dogwifhat (+39.0%)
IQ (-4.8%)
Syscoin (-3.4%)

Where AI Crypto Coins Are Most Popular

US, UK and Türkiye are the countries most interested in AI crypto coins this year, accounting for a third of global interest.

Southeast Asia has shown particularly outsized interest in the AI crypto narrative, with Philippines, Singapore, Indonesia and Vietnam ranking among the top 15.

Another successful upgrade!

The Blobs have arrived.

The Ethereum Foundation successfully implemented the Dencun network upgrade, which is expected to make it much cheaper to use layer-2 networks.

Dencun enhances the underlying architecture of Ethereum, making it more efficient at processing data. Layer-2's can use blobs instead of the "calldata" method for posting transactions, which in turn reduces fees.

With the upgrade done, gas prices on layer-2's such as Optimism, Zksync, Base, and Zora have dropped significantly (costing less than 1 cent). Meanwhile, Arbitrum, Linea, and Scroll have yet to integrate the latest upgrade but will be doing so in the near future.

While the highly anticipated upgrade was welcomed by most layer 2's, the same couldn't be said for the newly launched Blast. The Blast Mainnet which has over $1 billion in Total Value Locked (TVL), stopped producing blocks due to issues related to the upgrade, but thankfully it was resolved within a couple of hours.

Editor's Take:

With gas prices across layer-2's dropping now that blobs have arrived, we might see an uptick in activity on them. However this is not the final end-state yet, as certain Layer 2s have yet to upgrade to blobs. Competition between Layer 2s for blobspace in the future could result in slight uptick in fees. However overall this is definitely bullish for Ethereum Layer 2s. Could it even begin to draw away some activity away from Solana (which has been the preferred blockchain due to extremely low transaction fees)?

Learn about Mantle Network, the latest Ethereum Layer-2 which employs a modular architecture.

Watch now!

Higher and higher!

Record Bitcoin ETF Inflows. Once more.

BlackRock's IBIT spot bitcoin ETF had its largest daily inflows on Tuesday, with $849 million added. It has since reached $15.4 billion in assets under management as of March 12, equivalent to 212,000 bitcoins.

Meanwhile, the combined net flows of the new nine spot bitcoin ETF's exceeded $1 billion (also a record.) They hold over 422,000 bitcoins ($31 billion) between them.

Grayscale's GBTC fund continues to see sustained outflows, having dropped by 38% to 381,000 bitcoins ($27 billion), since spot bitcoin ETF's started trading.

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Decentralized compute brings crypto and AI together. Find out about some decentralized compute protocols and how they are emerging as a solution to the scarcity of state-of-the-art GPUs which are essential for AI training.

Learn more

In Other News...

Ronin hits new ATHs following Pixels hype. Ronin also recently announced a free NFT mint for a RPG called Kaidro.
Dogwifhat is going to Vegas! Solana meme coin community raised $690K to plaster an image of Dogwifhat onto the face of Sphere, the massive LED-screen covered entertainment arena in Las Vegas.
Bet more. MicroStrategy plans to offer $500M in convertible senior notes to buy more Bitcoin.
Futures for crypto points. Vega offers support for futures trading of points, starting with EigenLayer.
Restaking protocol Swell is launching its own L2 rollup chain. Mainnet is planned for the second half of 2024
NFTs are bleeding. Leading collections like BAYC and Pudgy Penguins see lower floor prices amidst NFT market downtrend.
Every chain's mascot. Meme coins have 'strong relationship' with native networks like Solana, according to research published by the traditional financial institution Franklin Templeton.

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