Ethena Sets New Record, Crypto Trading Volume Soars, Bitcoin ETFs Ignite Market and Much More!📈🚨💰
From Ethena's DApp success and unprecedented exchange volumes to the pivotal role of Bitcoin ETFs, the crypto landscape is witnessing a transformative period of growth and investment interest.
OGs! 🙋🏻♂️
How you doin’??? 🤑
Super excited to share the 39th edition of our Newsletter.🥳
So, let's jump right in. 🗞️
Bitcoin Reaches New High Thanks to ETFs🚨
Bitcoin hit a record high, going over $69,200 on March 5. This big move came after a week where its value went up by 21%, helped a lot by new Bitcoin ETFs in the U.S. These ETFs make people more interested in Bitcoin, and experts think its price might go up to between $100,000 and $120,000 by the end of 2024.📈
Bitcoin ETFs also make the price less bumpy after it reaches new highs. They're a big reason Bitcoin is doing so well right now, and they might even get more significant than gold ETFs in a couple of years.🤑
But there's a chance things could get shaky because of the Bitcoin halving event. Even so, people trading in options think Bitcoin's price will stay between $55,000 and $85,000 by the end of 2024. So, things are looking up, but we should still be ready for some ups and downs.🧐
Funding Frenzy💰
Blackwing has completed a $4.5 million funding round led by Hashed and Gumi Cryptos. The investment is for developing the first modular layer 2 blockchain designed for liquidation-free leveraged trading for any asset.
Cosmology announced that it had raised $5 million in seed funding. The round, led by venture firms Galileo and Lemniscap, included Dispersion, HashKey, Tuesday Capital, Osmosis Foundation, Chorus One, and Informal Systems.
Zama has raised $73 million in Series A funding to develop applications based on fully homomorphic encryption (FHE). This technology enables data to be processed without decrypting it, which is potentially useful for protecting privacy in blockchain and AI.
Ethena Sets New Record in DApp Earnings
Ethena has surged to become the top-earning decentralized application (DApp), hitting over $6.8 million in daily revenue last week. This achievement places it behind only Tron and Ethereum in blockchain revenue rankings.💸
Offering a 67.2% yield on its USDe synthetic dollar, Ethena has attracted over 350,000 users. The value of USDe has grown significantly, with a 43% increase last week and a 409% surge over the past month, reaching a market cap of $840 million.😳
Launched in February, Ethena's USDe has raised eyebrows with its high yield, reminiscent of pre-collapse offerings from other protocols. However, Ethena Labs emphasizes the transparency and solidity of USDe's yield mechanisms, differentiating it from past failures.🤔
With $20 million in funding from leading investors, including a $14 million round led by Dragonfly, Ethena Labs is advancing its vision for a robust and transparent synthetic dollar.✅
🌎Web3 WONDERS 🤯
Startup Spotlight 🔦
Kima Network is a transformative blockchain infrastructure that revolutionizes how financial institutions, Web3 applications, and fintech companies leverage the power of digital assets and blockchain technology.
People to know 👥
Dr. Rand Hindi, a Paris-born tech visionary and entrepreneur, founded Zama, a pioneering company in fully homomorphic encryption, after overcoming early career challenges with his innovative data privacy and AI approach. Recognized on Forbes' "30 under 30" list, his work symbolizes the intersection of technology and privacy, aiming to secure data processing and champion digital security worldwide.
Tech Talk 🎙️
Don't Follow Your Passion: Ben Horowitz's commencement address at Columbia University to the Fu School of Engineering and Applied Science class of 2015.
Surge in Crypto Exchange Volume Hits Two-Year High😳
Centralized crypto exchanges have witnessed a surge in daily trading volume, reaching a level not seen since November 2021. The seven-day moving average soared to $97.4 billion on March 6, marking a significant increase from the $24 billion lows of early February, per The Block's Data Dashboard.🤯
This uptick in trading volume mirrors the excitement of the 2021 bull market when Bitcoin first touched the $69,000 mark. Furthermore, monthly trading volumes have steadily risen, breaking past the $1 trillion threshold in December 2023 for the first time in over a year.🤑
Leading the pack in trading volume is Binance, with a 43% market share, followed by UpBit, OKX, and Coinbase. This resurgence in activity aligns with the launch of 9 new spot bitcoin ETFs and the conversion of the Grayscale Bitcoin Trust into an ETF, contributing to a net inflow of 170,000 BTC ($11.4 billion). 💰
NFT Drops ☔️
Broker Bisons Club Presale: Limited Presale Supply: 888 Presale Price: 0.3 SOL. Platform Helio Pay. Presale buyers will get %25 more airdrop points.
BTCMonkey: Expressing the real-life reflection of Bitcoin, which has taken the world by storm, through BTC MONKEYS, portraying its emotionally charged and meaningful impact.
100DollarDoodle: 100Dollardoodle mocks the current obsolete financial system by offering 10,000 fun and insolent NFTs hosted on the Polygon blockchain and living on Opensea.
Sei Hippo: In a riverside village, a remarkable sight emerged: an azure-furred hippopotamus. Possessing extraordinary strength, it safeguarded the river’s wonders. With its power, it promised a future of beauty and preservation, a testament to nature’s resilience.
Funky Birds Club: FunkyBirdsClub is a collection of 4,999+1 unique NFT avatars living on the Solana blockchain with over 100 traits. Visit our socials for more information.
🎟️Events
ETH Vietnam 2024, a pivotal moment for the Ethereum community in Southeast Asia
🗓️: 16-17 March
Attend Token2049 Dubai at an extra 10% discount with the OG promo code.
🗓️: 18-19 April
Attend Blockchain Life 2024 at an extra 10% discount with the OG promo code
🗓️: 15-16 April
Attend OG Founders Mixer Dubai by your OG Club with a 100% discount😉
🗓️: 17 April
📢 OG Shots:
XRP has disappointed vs. Bitcoin in 2024 — Is a price rebound possible?
Moonbirds creator Kevin Rose sells $1.2 million worth of NFTs but says he’s still collecting
$104 million in crypto lost to phishing incidents within two months of 2024
Portugal elections: Is the country’s crypto-friendly status at stake?
"Web3 represents the dawn of a new era in the internet's evolution, where decentralization paves the way for innovation and freedom. It's up to us to build a future where technology serves humanity, fostering a world that is more open, transparent, and equitable."
- Vitalik Buterin
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