The Block
Memecoins have the utility to introduce crypto to a wider range of audience, Messari’s VP of Research Maartje Bus said.As memecoins introduce crypto concepts to new users, it could be seen as a “Trojan Horse” for crypto, according to Bus.
Inscriptions comprised the highest percentage of blobs posted Wednesday compared to usage on Ethereum Layer 2s. Wednesday’s increased blob inscriptions also coincided with a spike in the fee on Base, which reached $300 before falling to about $30.
Crypto market maker GSR has reduced its estimate of a spot ether ETF approval in May to 20%.In January, GSR held a more optimistic stance, putting the chances of a May spot ether ETF approval at 75%.
Quick Take Web3 gaming platform Elixir Games raised $14 million in seed funding from Square Enix, Shima Capital and the Solana Foundation. Elixir Games will use the funds to develop its gaming ecosystem and launch the $ELIX token undergirding its gaming products.
Self-custodial solutions provider Casa is expanding its inheritance product to global customers and more digital assets.The feature allows users to take self-custody of bitcoin, ether, USDT and USDC and share inheritance access to their Casa vaults.
An historically high amount of bitcoin options open interest on Deribit is set to expire on Friday.An increase in open interest signals higher liquidity and more market participants.
Quick Take Judge Failla said the SEC has “sufficiently pleaded” that Coinbase operated as an exchange, broker and a clearing agency, as well as engaged in the unregistered sale of securities through its staking program. A claim regarding Coinbase’s Wallet application was dismissed.
Quick Take MyShell has raised $11 million in a new round from Dragonfly, Nascent, OKX Ventures and others. The web3 AI platform allows creators to generate AI agents or bots and plans to launch its token.
In a newly announced collaboration, Arbitrum Foundation, Azuki and Weeb3 Foundation are teaming up to launch a blockchain-powered anime network. Dubbed AnimeChain, the new project aims to onboard fans of anime to web3 with a mix of content, games, merchandise, and NFTs.
Dfinity Foundation said in 2023 community members “committed” over 6.5 million ICP tokens to help protocols become decentralized autonomous organizations, or DAOs. ICP’s rising price on Tuesday pushed the value of committed tokens above $120 million.
