ETH L2 Fees Will Reduce by How Much ?! 🤯
In today’s edition: 🚀 BTC surges past $71,000, ❌ Why the SEC might deny ETH ETFs, 🐶 Solana’s meme coin trading frenzy, 💡Crypto’s post-spot ETF afterglow, and more!
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Welcome to The Chopping Block – where crypto insiders Haseeb Qureshi, Tom Schmidt, Tarun Chitra, and Robert Leshner dive into the hot topics stirring the cryptocurrency world. Could Uniswap’s fee switch revolutionize DeFi’s economic model? What’s the real potential of decentralized AI in blockchain, and how close are we to seeing its practical applications? And in the whirlwind of the crypto market, what makes meme coins like Jeo Boden not just viral, but influential?
This episode offers a detailed analysis of Uniswap’s strategic move to potentially activate fee switches, exploring its implications for liquidity providers and the broader DeFi landscape. We also navigate the promising yet challenging terrain of Crypto AI, dissecting decentralized inference and the feasibility of verifiable training. The phenomenon of meme coins, with a spotlight on Jeo Boden, is dissected for its impact on community engagement and market dynamics. Join us as we probe these intriguing questions, equipped with Robert Leshner’s insights, to unravel the complexities of DeFi innovations, Crypto AI’s frontier, and the unique ecosystem of meme coins. Tune in for an enlightening session that aims to demystify these trends and provide a clearer understanding of their role in shaping the future of cryptocurrency.
Listen to the episode on Apple Podcasts, Spotify, Overcast, Podcast Addict, Pocket Casts, Pandora, Castbox, Google Podcasts, TuneIn, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Kari McMahon, Laura Shin, John Metais, Sam Sriram and Sage Young
How Much Will the Dencun Upgrade Really Reduce Ethereum Layer 2 Fees By?
Ethereum’s Dencun upgrade is scheduled for this week and is set to reduce fees on layer 2s by at least 10 times, if not more.
Why the SEC Might Reject Spot Ether ETFs
After the approval of spot bitcoin ETFs, many crypto watchers expected spot ether ETFs to be approved at the time of the May deadline. But the current outlook is cloudier, leading to speculation about why the U.S. Securities and Exchange Commission (SEC) might deny the spot ether ETFs.
BlackRock’s Bitcoin ETF Surpasses MicroStrategy’s BTC Holdings
BlackRock’s spot bitcoin ETF has acquired a total of 195,985 bitcoin in the two months since its launch, surpassing MicroStrategy’s holdings of the digital asset, which the company has been acquiring since August 2020.
Arbitrum DAO Removes Proposal to Fund Tornado Cash Developers’ Legal Defense
The Arbitrum DAO has deleted a proposal on the protocol’s governance forum to fund Tornado Cash developers’ legal defense with nearly $1.3 million in ARB tokens.
Solana Records Second-Highest Day in Fees Thanks to Dogs and Memes
Users paid roughly $1.1 million on March 7 in gas fees to transact on the Solana blockchain, with a large part of those fees stemming from meme coin trading on decentralized exchanges.
Opinion: As Bitcoin Thrives Post-Spot ETFs, Will Crypto as Well?
by Jeffrey Hu
The launch of spot bitcoin ETFs is an inflection point and crypto has caught some of the afterglow. But investors must watch regulators as well as market indicators.
Daily Bits…✍️✍️✍️
🚀 Bitcoin (BTC) hit a fresh all-time high as it surpassed $71,000.
🇬🇧 The UK’s Financial Conduct Authority (FCA) said it won’t object to requests to create a crypto-backed exchanged-traded note (ETN) market, however the ETNs can only be offered to professional investors, not retail.
🤝 Coinbase and Grayscale met with the U.S. Securities and Exchange Commission (SEC) last week as the two firms push to secure approval from the agency for spot ether ETF applications.
👩⚖️ Wyoming has established a new legal framework for in-state decentralized autonomous organizations (DAOs) nonprofits, which extends the state’s existing legal framework for DAOs.
🚀 Ethereum mainnet fees hit its highest figure since May 2022 with the Ethereum network’s revenue surging to $193 million last week. Fees on layer 2s are also surging, but this is expected to be resolved this week with the Dencun upgrade.
📈 MakerDAO’s savings rate for the DAI stablecoin has increased from 5% to 15% in order to shore up support for the stablecoin amid increased market volatility and selling pressure.
❌ Solana client developer Jito Labs has removed its mempool offering, which was provided through the Jito Block Engine, after retail traders complained of an increase in sandwich attacks.
🇰🇷 South Korea is planning to build a crypto-focused asset management system to prevent tax evasion. The system will be rolled out by 2025, which is when the country’s crypto gains tax is set to take effect.
The $$$ Corner…
🐶 Solana-based meme coin Dogwifhat is trying to raise $650,000 to advertise on Sphere, an arena in Las Vegas for one week. It's already secured over $300,000 in funding.
What Do You Meme?
Recommended Reads
Unchained: What Is Gwei in Ethereum?
DL News: Has Ethereum’s $54bn liquid staking industry become too big?
📈 Your Market Update 📉
BTC is up 2.5% trading at $71,660
ETH is up 1.9% trading at $4,029
BTC dominance: 49.7%
Crypto market cap: $2.83T
*All data as of today, 06:07 am ET. Source: CoinGecko
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