Midas Crypto
Posts
🌙 Solana Gets Slammed

🌙 Solana Gets Slammed

Surge in spam transactions reveals vulnerabilities, pushing for a transaction fee overhaul.

Mike Gavela
April 05, 2024

Crypto Roundup - Apr 5

In recent developments within the crypto and financial sectors, the blockchain network Solana faced severe congestion due to spam transactions, highlighting the need for a base fee mechanism to prevent such issues. Terraform Labs and its CEO, Do Kwon, were found liable for fraud by the SEC, marking a significant legal outcome in the crypto industry's history. BlackRock has announced the addition of a Goldman Sachs AP for its Bitcoin ETF, signaling growing institutional interest in cryptocurrency. These stories underline ongoing challenges and significant strides in regulatory, technical, and investment fronts in the blockchain space.

Top stories:

Solana’s Network Congestion: Surge in spam transactions reveals vulnerabilities, pushing for a transaction fee overhaul.
Terraform Labs' Legal Troubles: SEC finds Do Kwon and Terraform Labs liable for fraud, setting a precedent in crypto regulation.
BlackRock’s Crypto Move: Introduction of Goldman Sachs AP for Bitcoin ETF highlights increasing institutional adoption of cryptocurrencies.

FUNDRAISES

We are happy to announce our $5m Seed Round
The seeds are truly just being planted right now🌱
We're grateful not only for the support of these investors, but of the community that has gotten us to this moment.
We really are embarking on something special together💚 twitter.com/i/web/status/1…
— Today - 🧱/🌿 (@todaythegame)
4:11 PM • Apr 5, 2024

We're thrilled to announce the closing of our $1.25M seed round to build a more interactive and reliable Web3 asset data layer!
The round is led by @nlvcofficial, with support from @realMaskNetwork, @skylandvc, @BasicsCapital, Rebase D. Ventures, @SendingLabs, @GoPlusSecurity,… twitter.com/i/web/status/1…
— RootData (@RootDataLabs)
12:05 PM • Apr 5, 2024

OTHER HEADLINES

Massive SOL liquidation by FTX estate nets nearly $2B

The FTX estate unloaded over half of its Solana (SOL) tokens at a 63% discount from current prices.

cointelegraph.com/news/massive-sol-liquidation-by-ftx-estate-nets-nearly-2-billion

Uniswap hits $2tn in total volume. Here’s why the exchange may get even stronger

Uniswap hits $2 trillion in cumulative volume, with Uniswap v4 slated for the third quarter and discussions around the "fee switch" continue.

www.dlnews.com/articles/defi/uniswap-hits-2-trillion-in-cumulative-trading-volume

DeFi booms as daily active wallets hit 7M, VanEck bullish on Ethereum L2s: Finance Redefined

The surge in DeFi in recent months saw DApp activity increase by 77% in the fourth quarter of 2023.

cointelegraph.com/news/de-fi-booms-daily-active-wallets-7-m-van-eck-bullish-ethereum-l2s-finance-redefined

CRYPTO TWITTER (X)

JUST IN: BlackRock updated its bitcoin ETF prospectus w/ many new Authorized Participants incl first-timers Citadel, Goldman Sachs, UBS, Citigroup. Takeaway: big time firms now want piece of action and/or are now OK being publicly associated w this. H/t @akibablade@CryptoSlate… twitter.com/i/web/status/1…
— Eric Balchunas (@EricBalchunas)
12:46 PM • Apr 5, 2024

Breaking: @Grayscale has removed #Cardano $ADA and Polygon $MATIC from its Digital Large Cap Fund $GDLC 👀
NOTE: They added $AVAX and $XRP to the portfolio.
*They also removed #Cosmos $ATOM from their Smart Contract Platform Ex-Ethereum Fund $GSCPxE and removed $CRV from their… twitter.com/i/web/status/1…
— MartyParty (@martypartymusic)
1:57 PM • Apr 5, 2024

Brilliant analysis of $DAI from @chaos_labs for the Aave DAO.
TL;DR, following their feedback the @AaveChan
is now supportive of their "conservative" option.
LTV goes down a bit but much higher than zero, DAI stays in Aave, we move on. Onwards.
— Marc “Chainsaw” Zeller 👻 🦇🔊 (@lemiscate)
9:29 PM • Apr 5, 2024

SHARE!

Gif by fuzzyghost on Giphy

Love our newsletter? Share it with your friends, family, colleagues, interns who need to stay on top of the crypto markets! Join over 85,000 investors and crypto degenerates who read Midas Crypto daily!