🗣️ Make Some Noise, Get More 🎈
In today’s edition: ⚔️ EIP-3074 vs. EIP-4337 divides Ethereum developers, ⛏️ Bitcoin miner revenue per terahash at all-time low, 🚨 Robinhood Crypto receives SEC Wells notice, and more!
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Union is the first sovereign interoperability layer pioneering trustless bridging between appchains, L1s, and L2s without depending on trusted third parties, oracles, multi-signatures, or MPC. Looking to future-proof blockchain bridging, it is the only protocol that fully addresses the sovereign bridging trilemma, unlocking a horizontally-scaled future.
In this episode of Unchained, memecoin traders Ansem and Kelxyz unpack everything about memecoins, discussing what makes them valuable and how they evaluate their investment potential. They also address the criticisms and controversies surrounding them, including racism and sexism. (They have a surprising reaction to the latter.) Ansem and Kel argue that memecoins have substance and value, largely due to their popularity and the attention they receive on the internet.
They also discuss the importance of distribution and virality in the success of a memecoin, how the chain any coin is on affects its value, and give their opinions on Runes vs. BRC-20s vs. Solana and Ethereum.
Plus, they talk about their wildest memecoin stories (think: Dogwifhat) and provide their insights on what they think memecoins will become in the future.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Overcast, Podcast Addict, Pocket Casts, Castbox, Google Podcasts, Amazon Music, or on your favorite podcast platform. Or watch it on YouTube.
What’s Poppin’?
by Sam Sriram and Sage Young
Who Knew Throwing Tantrums Would Be Such an Effective Strategy to Receive a Larger Airdrop Allocation?
Early users of projects have increasingly been able to receive additional token allocations in airdrops by complaining loudly and often.
EIP-3074 vs EIP-4337: Ethereum Developers Disagree on Endgame for Account Abstraction
Ethereum developers can’t see eye to eye on a proposed code change that could potentially improve user experience with wallets.
Bitcoin Miner Revenue Per Terahash Weekly Moving Average Hits All-Time Low
Despite a short run of increased profitability after the fourth halving, Bitcoin miners are now seeing reduced profitability as hashrate remains near historical highs.
Daily Bits…✍️✍️✍️
🚨 Robinhood Crypto has been issued a Wells notice by the SEC, indicating potential enforcement action for alleged securities violations, as the regulatory body preliminarily recommends action against the cryptocurrency unit of Robinhood Markets.
🔒 Binance CEO Richard Teng demanded the release of colleague Tigran Gambaryan, detained in Nigeria since February, asserting his innocence and criticizing the dangerous precedent set by such detentions for global companies.
💻 The Poloniex exchange hacker laundered 1,100 ETH ($3.4 million) using the sanctioned Tornado Cash mixer following a $100 million hot wallet breach in November last year, with suspected links to North Korea’s Lazarus Group.
🔗 Arbitrum achieved over $150 billion in total transaction volume on Uniswap, becoming the first layer 2 protocol to reach this milestone on the decentralized exchange (DEX).
🗳️ In the lead-up to the 2024 US presidential election crypto lobbyists are gearing up, despite cryptocurrency not being a top issue for most voters. However, a notable community of Bitcoin maximalists remain single-issue voters.
🔐 According to a report by Glassnode, long-term Bitcoin investors are increasingly holding (or HODLing) onto their assets.
🔄 Jupiter, a leading DEX on Solana, now supports trading non-native tokens such as Dogecoin and BNB through the integration of Clone Protocol, eliminating the need for bridges.
🌐 Visa's analysis reveals that less than 10% of stablecoin transaction volumes in April came from genuine user activity, with the majority being non-organic, driven by automated systems and large traders.
⚖️ CFTC Chairman Rostin Behnam warned of impending enforcement actions within the crypto industry due to its growth and the vague regulatory landscape, anticipating more regulatory scrutiny over the next 6 to 24 months.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 1.7%, trading at $63,841
ETH is down 2.9%, trading at $3,146
BTC dominance: 50.57%
Crypto market cap: $2.49T
*All data as of today, 06:27 am ET. Source: CoinGecko
Recommended Reads
Unchained: What Is the EIP-3074 Proposal on Ethereum?
Blockworks: What Hong Kong crypto ETFs may tell us about US ETH fund appetite
DL News: Mining revenue soared 200% in wake of ‘abnormal’ Bitcoin memecoin trading frenzy. But will it last?
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