Memecoins
Memecoin Protocol Raises $5.5M – This VC Calls It Ethereum Ordinals Moment – DL News
![Memecoin Protocol Raises $5.5M – This VC Calls It Ethereum Ordinals Moment – DL News](https://tokentalk.top/wp-content/uploads/2024/04/Memecoin-Protocol-Raises-55M-–-This-VC-Calls-It-Ethereum.jpg)
general manager, Tim here.
Here’s what caught my eye about DeFi recently:
- What are Heroglyphs and How Do They Help Ethereum?
- Why the DoJ just shut down crypto mixer Samourai Wallet.
- Lessons learned from Renzo’s $56 million ezETH depeg.
$5.5 million hype for heroglyphs
DeFi users are spending big on Heroglyphs, a hot new project that aims to align crypto memecoin trading and Ethereum decentralization.
The Heroglyph Protocol will give Ethereum users who manage their own validators – or solo stakers – the ability to exclusively create a special new type of token.
The idea is that these exclusive tokens will become the new, popular way for speculators to create memecoins.
If successful, the demand for Heroglyphs should encourage more solo staking, making the Ethereum network more decentralized. The centralization of Ethereum validators is a an omnipresent worry among its users and developers.
According to Andrew Kang, co-founder of Mechanism Capital, Heroglyphs could be Ethereum’s “Ordinals moment”. Ordinal tokens exploded on the Bitcoin network last year and are collectively valued at over $2.1 billion.
Ethereum is interesting here
He could soon have his Ordinals moment
– Andrew Kang (@Rewkang) April 27, 2024
So far, the Heroglyph protocol has released a white paper describing how the protocol works. He also launched a website which allows users to create multiple NFTs of varying cost.
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It is not yet clear what these NFTs will do. But that didn’t stop speculators from spending almost $5.5 million on them since they began striking on April 26.
Samourai Wallet founders arrested
The news sent shockwaves throughout DeFi: Authorities arrested two co-founders of Samourai Wallet amid charges from the U.S. Department of Justice, including conspiracy to commit money laundering.
Samourai Wallet, a Bitcoin wallet and cryptocurrency mixer, has a long history of not only facilitating private transactions but also actively welcoming those flouting US sanctions.
“Welcome new users of the Russian oligarch Samourai Wallet,” the project’s X account posted last June.
The United States has previously harshly criticized those accused of aiding countries it has sanctioned. You just have to ask Virgil Griffithan Ethereum developer sentenced to more than five years in prison for advising North Korea on how to use cryptocurrency and blockchain technology, which the nation-state uses to evade sanctions.
However, going after crypto mixers like Samourai Wallet is not a good way to prevent illegal transactions, said Mikko Ohtamaa, security researcher and CEO of trading protocol DeFi Trading Strategy. DL News.
“The most effective place to stop money laundering is centralized on- and off-ramps,” he said, referring to centralized crypto exchanges.
Renzo’s ezETH depegs
These loop deposits of Renzo’s ezETH recovery token just lost $56 million after the protocol’s REZ token announcement triggered a liquidation cascade.
Investors were disappointed after Renzo revealed that ezETH holders are set to receive 5% of the total REZ supply, compared to 2.5% for Binance launch pool participants.
This discrepancy has caused frustration among ezETH users, who feel that their four-month commitment to holding ezETH deserves a larger reward than that offered to those who participate in Binance’s seven-day introductory pool.
The incident also highlights issues with launching liquid staking or restaking tokens without giving users the option to redeem them for backing Ether.
This is not the first time that ezETH loopers have been affected in recent weeks. On April 11, an unexpected code change on the Blast-based Pac Finance protocol was triggered $26 million value of liquidations.
Data of the week — Distribution of heroglyphs
Looking for the latest hero updates? Check out the breakdown of NFTs created with Daedalus’ Dune Dashboard.
This week in DeFi governance
VOTE: Arbitrum DAO decides on the beneficiaries of its long-term incentive pilot program
VOTE: HAI to distribute its first round of community rewards
VOTE: Aave will host a Cantina security competition ahead of its v3.1 upgrade
Article of the week
Ethereum co-founder Vitalik Buterin explains Binius: A way to make cryptography proof systems binary.
What we’re looking at…
Today the @fondationeigen presents EIGEN, based on the research of @eigen_labsalongside a Season 1 Stakedrop.
EIGEN is the universal intersubjective work token, complementing ETH as the universal objective work token in EigenLayer.
See the full announcement from the Eigen Foundation: https://t.co/ZxswOiwWyR
-EigenLayer (@eigenlayer) April 29, 2024
Restoration protocol EigenLayer has just announced its EIGEN token, along with an airdrop for early depositors.
Do you have a tip on DeFi? Contact us at tim@dlnews.com.
Memecoins
Memecoins dominate major derivatives in terms of open interest | Flash News Detail
![Bitcoin Dominance May Have Peaked, Ethereum ETF Could Trigger Altcoin Momentum](https://tokentalk.top/wp-content/uploads/2024/06/Bitcoin-Dominance-May-Have-Peaked-Ethereum-ETF-Could-Spark-Altcoin.jpg)
Disclaimer
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Memecoins
Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don’t miss the winnings
![Have a profitable August with Shiba Inu and Mpeppe (MPEPE) Don't miss the winnings](https://tokentalk.top/wp-content/uploads/2024/08/1722527106_Have-a-profitable-August-with-Shiba-Inu-and-Mpeppe-MPEPE.jpg)
August offers investors a unique opportunity to capitalize on the potential gains offered by Shiba Inu (SHIB) and Mpeppe (MPEPE)These two memecoins take advantage of the viral nature of internet memes and popular culture, attracting a diverse and enthusiastic audience. In this article, we’ll look at why Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for gains this month and why you shouldn’t miss out on the potential profits.
The viral power of memecoins
Memecoins have the inherent ability to leverage the viral nature of internet memes and popular culture references. This can lead to rapid spread of the cryptocurrency’s brand and message across various online platforms, potentially appealing to a broader and more diverse audience. Shiba Inu (SHIB) and Mpeppe (MPEPE) are great examples of how this viral potential can translate into substantial community growth and market presence.
Shiba Inu: riding the wave of popularity
Shiba Inu (SHIB) has established itself as a major player in the memecoin space. With its cute canine mascot and strong community support, Shiba Inu (SHIB) has gained a significant following. The coin’s ecosystem continues to grow, with projects like ShibaSwap adding to its utility and appeal. Investors are optimistic about Shiba Inu’s future, expecting it to ride the wave of popularity that has kept it in the spotlight.
Ecosystem expansion
THE Shiba Inu (SHIB) The Shiba Inu (SHIB) ecosystem is constantly expanding, offering new features and utilities that enhance its value proposition. Projects like ShibaSwap provide users with opportunities to stake and earn rewards, making Shiba Inu (SHIB) more than just a meme currency. This expansion helps solidify its market position and attract a wider audience.
Balancing humor and professionalism
Mpeppe (MPEPE) offers a unique and light-hearted approach to the serious world of digital assets, balancing humor and professionalism. Inspired by internet memes and the dynamic energy of football fans, Mpeppe (MPEPE) is quickly gaining traction in the crypto community.
Mpeppe (MPEPE) offers an opportunity to reach a younger demographic and tap into the viral nature of internet culture. By balancing humor and professionalism, Mpeppe (MPEPE) appeals to a wide audience, from casual meme enthusiasts to serious investors. This strategy is similar to the one that made Shiba Inu (SHIB) so successful, but with a modern twist.
Expanding Reach and Adoption
Mpeppe’s (MPEPE) ability to leverage internet culture means it has the potential to rapidly expand its reach and adoption. The memecoin’s branding and community-driven approach make it accessible and appealing, much like Shiba Inu (SHIB) in its early days.
Why August is the month to invest
As the cryptocurrency market experiences a surge in interest, August presents a great opportunity to invest in promising assets like Shiba Inu (SHIB) and Mpeppe (MPEPE) Both coins are well positioned to capitalize on the growing interest in memecoins, driven by their unique appeal and active communities.
Conclusion: Don’t miss the benefits
Shiba Inu (SHIB) and Mpeppe (MPEPE) are poised for a profitable August, leveraging their viral potential and strong community support to attract a diverse audience. With the cryptocurrency market in full swing, now is the perfect time to consider investing in these promising memecoins. Just as Shiba Inu (SHIB) captivated the crypto world with its unique appeal, Mpeppe (MPEPE) is poised to make its mark. Don’t miss out on the potential gains these innovative digital assets have to offer.
For more information on the Mpeppe presale (MPEPE):
Visit Mpeppe (MPEPE)
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Memecoins
Solana down 8% as its coins Dogwifhat, Billy and Neiro fall further
![Solana climbs 4% on the back of rising Meme Coins and Alts](https://tokentalk.top/wp-content/uploads/2024/07/Solana-climbs-4-on-the-back-of-rising-Meme-Coins.jpg)
Solana, the fifth-largest crypto asset by market cap, has fallen 8% in the past 24 hours, according to CoinGeckolike his Meme Coin Market Prices of some coins, which can be notoriously volatile, have fallen by as much as 43% in the past day.
As the cryptocurrency market bleeds with Bitcoin (Bitcoin) down 2.7% and Ethereum (ETH) 4.2%, Solana (GROUND) was the hardest hit among the top 10 cryptocurrencies, falling 8.2% to $168 on the day, according to data from CoinGecko. Along with this, meme coin Solana suffered huge losses.
The biggest loser in the last 24 hours is the bigger of the two Black (NEIRO) on Solana which fell nearly 44% to $0.01821. These tokens were launched after the owner of Kabosuthe Shiba Inu that inspired the Doge meme, announced that she had adopted a new dog named Neiro. Interestingly, her rival on the network launched an hour beforealso called Black (NEIRO), is up 75.2%. It appears that the Solana Neiro Civil War is far from being decided.
Other big losers include: Pump.fun’s Favorites Billy (BOWL), down 26.4%, and Michi (MICHI), which fell 24.5%. Over the past 24 hours, both tokens have flipped their market caps multiple times, but dog token Billy is currently in the lead with $94 million, about $3 million ahead of Michi.
Dog with hat (Wireless), the largest meme coin on Solana, was also hit, dropping 12.4%. Bonk (BONK), the second-largest Solana meme coin, fell 9.1%. In fact, among the top 50 Solana meme coins by market cap, only four tokens are in the green, with Zoomer (ZOOM IN) leading the pack with 41.1%.
Meme coins are notoriously high-risk assets and tend to post disproportionate losses when the broader market experiences a downturn.
Brain (BRAIN), Michi (MICHI), Mini (MINI), Shark cat (SC), and many others, for example, have suffered greater losses in the last 24 hours than any of the top 100 cryptocurrencies by market capitalization.
In the world of meme coins, when it rains, it rains.
Edited by Stacy Elliott.
Memecoins
Trader Says Bitcoin’s Path to $100,000 Is ‘Currently Programmed’, Updates Outlook on Memecoin That’s Up Over 18,000% YTD
![Trader Says Bitcoin's Path to $100,000 Is 'Currently Programmed', Updates Outlook on Memecoin That's Up Over 18,000% YTD](https://tokentalk.top/wp-content/uploads/2024/08/Trader-Says-Bitcoins-Path-to-100000-Is-Currently-Programmed-Updates.jpg)
A widely followed analyst and trader expresses bullish sentiment on Bitcoin (Bitcoin) while offering his take on the memecoin built on Solana (GROUND) blockchain ecosystem.
Starting with Bitcoin, the analyst known by the pseudonym Altcoin Sherpa tell His 219,000 followers on social media platform X say Bitcoin is on the verge of hitting a six-figure price.
“There will be bumps along the way, but Bitcoin’s path to $100,000 is on schedule. Don’t get rattled or lost along the way.”
Source: Altcoin Sherpa/X
At the time of writing, Bitcoin is trading at $66,236.
According to For the widely followed trader, Bitcoin enjoys strong support between $63,800 and $65,000, where the 25, 55, 89 and 200 exponential moving averages (EMAs) on the daily chart have clustered.
Source: Altcoin Sherpa/X
Next up is the Solana-based memecoin Popcat (POPCAT). The pseudonymous trader and analyst said that among the cat memecoin family, POPCAT is one of the “best” in the long run.
Altcoin Sherpa, however, says POPCAT looks bearish on the short-term four-hour time frame and needs to climb above a range low between $0.694 and $0.724 to avoid falling further.
Source: Altcoin Sherpa/X
POPCAT was trading at $0.00379 on January 5th and is now at $0.704, a gain of approximately 18,475%.
Altcoin Sherpa also offers his take on dogwifhat (Wireless), Solana-based Memecoin. According to For the pseudonymous analyst, WIF “still looks pretty good for now” on the four-hour chart with the “best” support area sitting around $2.10.
“The average would probably be $2.30 to $2.10 if I were you and I was swing trading this one.”
Source: Altcoin Sherpa/X
WIF is trading at $2.27 at the time of writing.
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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