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How is swBTC secured? Why did we build on $WBTC? And how are the allocation decisions made?
The memecoin ‘Resistance Dog’ experienced a market rally, increasing by over 140% on Monday.This surge was triggered after the developers designated it as the official avatar for Toncoin across various community channels.
The market had previously peaked at $167 billion in March 2022.
Ethereum dominance, a measure of the digital asset’s market capitalization relative to the total crypto market cap, has declined by over 1.5% since November 2022.In the same period, bitcoin dominance has increased from 38% to 56% of the total digital asset market today.
Memecoin Sundog rose by 25% on Wednesday as traders test out the recently launched Tron-based token generator SunPump.Solana-based generator Pump.fun has been for several weeks dominating the memecoin space.
McDonald’s Instagram account seemingly hacked to promote Solana token ‘Grimace’NBA All-Star Jimmy Butler and Ben ‘BitBoy’ Armstrong agree to settle Binance-related class action lawsuitBitcoin trades flat following lower U.S. jobs growth revisionThe following is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
No matter how smart you are, failing to manage risk means ultimate failure.
- 08:01Cryptocurrency Staking Service Provider Figment Seeks Expansion with Plans for $100-200 Million AcquisitionAccording to Bloomberg, cryptocurrency staking service provider Figment is actively seeking acquisition opportunities, targeting transaction sizes between $100 million and $200 million. The company's CEO, Lorien Gabel, revealed that the acquisitions will mainly focus on projects with strong positions in specific regions or blockchain ecosystems, and several letters of intent have been issued. Figment currently manages staking assets of approximately $15 billion and hopes to further expand its business following the approval of Ethereum staking ETFs in the US. This move is the latest development in the wave of industry mergers and acquisitions driven by Trump's pro-cryptocurrency policies.
- 07:57BlackRock iShares Bitcoin Trust ETF increases holdings by over 41,000 Bitcoins in two weeks, valued at approximately $3.92 billionAccording to Lookonchain data, BlackRock's iShares Bitcoin Trust ETF has increased its holdings by 41,452 bitcoins, valued at approximately $3.92 billion, over the past two weeks. Its total holdings now amount to 614,639 bitcoins, with a total value of approximately $58.07 billion.
- 07:54Analyst: Bitcoin Short-Term Holders Have Not Yet Taken Significant Profits to Create Selling Pressure, Upward Momentum Still AccumulatingOn May 6, CryptoQuant analyst Axel Adler Jr. posted on social media stating that short-term Bitcoin holders (holding for 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their net unrealized profit/loss (NUPL) typically rises to over 40%, after which they begin to take profits, creating selling pressure in the spot market. Currently, the NUPL for this group is 8%, and their 30-day simple moving average (SMA) remains negative, staying at -2%. The selling pressure from this group will remain at a low level until the NUPL breaks through 40%, which is considered a bullish signal.