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Weekly blockchain buzz

Tanja Nechet

News editor

Apr 24, 2024 at 04:44

Hello, fellow crypto enthusiasts! 🌟 🙌

🔣 Magic Eden has launched the Bitcoin Runes platform

Magic Eden, an NFT marketplace, has launched a new platform for Bitcoin Runes. This platform allows users to swap for BTC and purchase Runes and Ordinals using their Magic Eden wallet. Initially scheduled for release on April 23rd, the Magic Eden Runes Platform was completed ahead of time. According to a company spokesperson, this platform aims to provide the best experience for users interested in Bitcoin-related NFTs. Bitcoin Ordinals are like NFTs for the Bitcoin network, containing metadata minted onto small units of BTC called satoshis. Bitcoin Runes are a step forward from Ordinals, offering a more efficient method for creating fungible tokens on the Bitcoin network. Magic Eden believes that Runes could provide a more secure and reliable platform for token creation and transactions. By utilizing the UTXO model for on-chain data storage, it inherits the security features of Bitcoin, reducing the risk of vulnerabilities. Since March 2023, Magic Eden has supported Bitcoin Ordinals through its NFT marketplace. Additionally, the Magic Eden wallet supports Ethereum and Polygon, alongside Bitcoin and Solana. According to The Block’s Data Dashboard, Magic Eden has generated $23.42 million in daily volume for Bitcoin Ordinals on NFT marketplaces.

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😶‍🌫️ The SEC has requested Terraform Labs and its co-founder Do Kwon to pay over $5.2B

The U.S. Securities and Exchange Commission (SEC) wants Terraform Labs and its co-founder, Do Kwon, to pay over $5.2B in fines. This request comes after the $40B collapse of the Terra ecosystem in 2022. The SEC filed this request in a New York court.

🪙 LayerZero has announced a TGE in the first half of 2024

The developers of the LayerZero protocol have announced the TGE. ZRO token distribution will take place in the first half of 2024. The exact launch date of the ZRO token will be announced at a later date.

🪂 Renzo announced the airdrop and release on Binance Launchpool

Renzo is a Liquid Restaking Token (LRT) and Strategy Manager for EigenLayer. The REZ token is scheduled to be listed on April 30. The first drop is allocated 5% of tokens, claim will launch on May 2. The second season will start on April 27.

🈸 The Philippine SEC has asked to remove the Binance app from Google and Apple app stores

The Securities and Exchange Commission (SEC) is working with Google and Apple to remove applications operated by Binance from their app stores in the Philippines. The SEC believes that allowing access to these apps poses a threat to the security of Filipino investors’ funds. They consider Binance’s activities, such as selling unregistered securities and operating as an unregistered broker, to be violations of the law. The SEC’s request follows their previous efforts to block access to Binance’s websites in the country. They warn the public against investing in Binance and are considering further actions to block its online presence. Binance offers various financial trading and investment services, but it hasn’t obtained the necessary licenses from the SEC. The SEC advises Filipino investors with holdings in Binance to close their positions and transfer their cryptocurrency to registered service providers.

🔑 Key crypto market highlights (April 24-May 1)

💵 Ideas

[1] 🔔 Farming LXP on Yellow Network

The project announced the beginning of the second stage and the possibility of getting LXP by trading using the terminal with Linea Voyage.

To access the Trading competition, you need to complete the preliminary quests for social media verification and wallet funding.

What to do?

  1. Go to the platform and register; 
  2. According to the instructions from the team, fulfill the preliminary quests, which are located on the right; 
  3. Get site points by performing daily check-ins.
  4. After completing the quests, the affiliate assignment with Linea will be available. Accumulate trading volume for the LXP reward.

[2] 🔔 Is XRP prepares for 70% growth?

XRP is currently at a support level, but it’s showing signs of a false break. According to RLinda’s technical analysis, in the long term, it’s expected to consolidate and then continue growing by 50-70%. On the weekly chart, the price is stuck in a triangle pattern and is trying to break above resistance. 

However, the market is being held back by legal issues between XRP and the SEC. Ripple has offered to pay a $10M fine instead of $2B, and some SEC lawyers have resigned. If the legal issues are resolved soon, XRP could enter a bullish period and reach new highs. 

Support levels: $0.50, $0.42.

Resistance levels: $0.64, $0.73, $0.85.

*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] 🔔 Starknet announced an airdrop for 3 problematic categories

Among these categories are those, who had problems receiving airdrop previously:

  1. pool stakers;
  2. StarkEx users mistakenly labeled as VeVe users;
  3. VeVe users.

Eligible users will soon be able to brand $STRK – check here.

More details, including a full list of eligible pools, are in the official announcement.

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