Solana Eyes Top 3 Cryptocurrency Spot; Coinbase Advisory Gets New Faces; Paragraph Acquires Mirror
Summary:
Franklin Templeton has predicted that Solana (SOL) could become the third-largest cryptocurrency. An unfortunate Bitcoin user transferred only a bit over $6.50, but ended up paying a fee of over $100,000. Former Los Angeles mayor Antonio Villaraigosa and former Atlanta mayor Keisha Lance Bottoms have joined Coinbase's advisory council. Blockchain publisher Paragraph has taken over its rival Mirror. Meanwhile, a group of Coinbase clients has filed a lawsuit alleging deception in terms of buying securities. Grayscale's Bitcoin ETF experienced its first-ever inflow and Web3 Gamer announced a large reward for the best crypto game pitch.
Franklin Templeton, a leading investment manager, sees potential in Solana (SOL) to rise to the third spot in the cryptocurrency market, following Bitcoin (BTC) and Ether (ETH). Having seen a surge in activity from 2023 to 2024, Solana appears poised to mop up the next wave of crypto interest and fortify its position as the third significant player in the crypto sphere. A surge in memecoins like Bonk (BONK) and Dogwifhat (WIF), as well as major airdrops like Jito (JTO) and Pyth Network (PYTH), has stimulated a wealth effect on Solana, lifting token prices and decentralized exchange volumes. The firm predicts ongoing momentum with anticipated airdrops and continued Memecoin trading.
In an unfortunate instance, a Bitcoin user seems to have mistakenly paid a giant transaction fee of over $100,000 for transferring less than $6.50 worth of Bitcoin. On May 4, blockchain monitoring firm Whale Alert signaled the likely error, documenting the staggering transaction fee of $100,254. The identities of the transacting and receiving wallets remain unknown. This uncanny incident might have occurred due to a mix-up of input amounts in the transaction wallet.
Coinbase, a notable cryptocurrency exchange, has announced the addition of Antonio Villaraigosa, former Los Angeles mayor, and former Atlanta mayor Keisha Lance Bottoms, a former adviser to President Joe Biden, to its advisory council. Both new members are anticipated to support bridging the gap between policy-making entities and the American public.
Blockchain publisher Paragraph has swooped up its competition, the Mirror platform. The acquisition marks a new focus on Kiosk, a brand-new Web3 social media application. Paragraph, stepping in as the new steward of Mirror, brought Colin Armstrong, its founder, into the CEO seat, while Mirror's founder Denis Nazarov moves into an advisory role. Anticipating future growth, Paragraph has managed to amass $5 million in a fundraising round backed by Union Square Ventures and Coinbase Ventures.
Finally, a group of Coinbase clients has brought a lawsuit against the cryptocurrency dealer claiming deceptive practices. Grayscale's Bitcoin exchange-traded fund (ETF) experienced its very first input of $63 million on May 3. And in a bold statement, Web3 Gamer declared that Web3 gaming could vanish in five years, offering $656K for the top crypto game proposal.
Published At
5/6/2024 6:23:43 AM
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