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Web3 chronicles

Tanja Nechet

News editor

May 8, 2024 at 08:57

Hey, crypto enthusiasts! 👋 


☝️ MEXC will support the Chiliz (CHZ) network upgrade and hard fork

The Chiliz (CHZ) network upgrade and hard fork will take place on May 21st. To support this, MEXC will suspend deposits and withdrawals of tokens on the Chiliz network during the network upgrade and hard fork.

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The trading will not be affected during the network upgrade and hard fork. The network upgrade and hard fork will not result in new tokens being created. MEXC will reopen deposits and withdrawals for tokens on the Chiliz network once we deem the upgraded network to be stable, and we will not notify users in a further announcement.


🫕 Zora has swept up Mint.fun.

Zora, a decentralized creator-focused protocol, acquired mint.fun, an NFT mint aggregator. Zora confirmed the purchase on its Twitter.


💤 Sleeping giants

1,750,000 Bitcoin wallets have remained inactive for more than 10 years – they collectively contain 1,798,681 BTC worth about $120 billion.


⚖️ Coinbase exchange accused of selling unregistered securities

Coinbase customers have filed a lawsuit against the exchange, alleging that the platform sold unregistered securities and operates as an unregistered broker/dealer.

The assets in question are Algorand (ALGO), Decentraland (MANA), Polygon (MATIC), Near Protocol (NEAR), Uniswap (UNI), and Solana (SOL).


EigenLayer has announced a claim date 

On May 10 users finally will be able to claim their tokens. 15% of the token supply is allocated to stakers. Eligibility and claim of EIGEN will be available here.


🔑 Key crypto market highlights (May 8-15)

💵 Ideas

[1] 🔔 Superform has announced the launch of the Safari campaign

It is scheduled to start on May 9. The campaign will consist of individual tournaments (6 of them are planned in the first season) up to 30 days long. Participants will be able to accumulate and claim YIELD + XP + NFTs. Season 0 participants will also be given a retro boost. Upon completion of Season 1, a snapshot will be taken, at which point the final leaderboard position and NFTs will become visible.

  • Superform XP. XP will be accumulated in proportion to the deposit made in Superform. Accordingly, the larger it is, the more XP we will be able to accumulate.
  • SuperFrens NFTs. NFTs give you a boost to the points you earn. To get such NFTs, you will need to occupy a certain place in the leaderboard.

Multipliers and distribution of NFTs:

Bronze: x2 boost, ranking position, 6551 – 31,250;

Silver: x2.25, 1251-6250;

Gold: x2.5, 251-1250;

Onyx: x3, 51-250;

Diamond: x4, 11-50;

Mythic: x6, 2-10;

Ethereal: x10, 1.


[2] 🔔 Ethereum’s market correction is coming?

According to AlanSantana’s technical analysis, Ethereum has been falling for almost two months now, dropping by more than 31.5%. This means it’s in a significant downward trend. So, it’s not done falling yet. The situation looks similar to what happened with Bitcoin. Recently, ETH bounced back a bit after hitting a certain level, but it’s still trending down. The biggest drop may happen this week or within this month. It 

Usually, a market correction like this lasts for about 2–4 months. Since we’ve already had 2 months of decline, we might be close to the lowest point. The next two months could be about stabilizing, gathering more Ethereum, and preparing for a recovery. 

ETH might rise again later this year or early next year. Once this correction is over, we expect a major increase in prices, signaling the start of a strong upward trend. 

*Any technical analysis, in the long run, cannot accurately predict the movement because now is a very tough market and the news can swing currencies in all directions.


[3] 🔔Check out the drop from Spectral for activity in Farcaster 

Farcaster is a Warpcast social network that is available on iOS or Google Play. For being active on their social network, you can brand the $SPEC drop from Spectral, which gave everyone differently from $300 to $1000 per account. Check the drop here  or here

The $SPEC token is trading on Uniswap on the Base network at $6.49 with a market capitalization of $9.3M. Check the chart and contract address at DexScreener.

Spectral previously raised $30M from Polychain Capital, Galaxy, Samsung, ParaFi Capital, Jump Capital and other funds.

Criteria:

  • 10+ subscribers;
  • 10+ posts and likes;
  • 10+ interactions with different contracts on Base for 2024.

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