Set SOL for Bronze Medal, Bitcoiner Fat Fingers $100K Fee, and More
Solana Is ‘Well-Posed’ to Become a Big 3 Cryptocurrency: Franklin Templeton
Once considered “dead or forgotten,” Solana (SOL) is well-positioned to become the third-largest cryptocurrency behind Bitcoin (BTC) and Ethereum (ETH), investment manager Franklin Templeton said.
Solana is “well-positioned to capture the next wave of cryptocurrency adoption” and “capture the next wave of cryptocurrency adoption, firmly establishing itself as the third leading cryptocurrency asset,” Solana said in a May 2 market note. He said. memo.
Franklin Templeton said memecoins like Bonk (BONK) and Dogwifhat (WIF), along with “major airdrops” like Jito (JTO) and Pyth Network (PYTH), could spark a “wealth effect” on Solana, driving up the price of the tokens. Increased decentralized exchange volume. .
The company believes the wealth effect will continue, with airdrops expected in the coming months and Memecoin trading showing “no signs of slowing down.”
The “next wave of adoption” is likely to be decentralized physical infrastructure networks (DePIN), compressed non-fungible tokens (NFTs), centralized limit order books (CLOBs), and payments (particularly micropayments), and Solana will solve these problems. I have a “unique qualification” to do it. The company wrote.
Franklin Templeton cited congestion issues on the blockchain and said Solana is “at its limit” due to current activity, but added that developers are working to fix the issue with the Firedancer update scheduled for later this year.
“Cryptocurrency enthusiasts are wondering what the next big thing in cryptocurrency will be,” he wrote. “I don’t know the exact answer, but I think it’s very likely that something like that will happen in Solana.”
According to CoinGecko, SOL is currently the fifth-largest cryptocurrency with a market capitalization of $65.3 billion. It is the fourth largest blockchain with a total value of $3.99 billion per DefiLlama.
Fat Bitcoin user appears to have accidentally paid $100,000 in fees
It appears that a Bitcoin user accidentally paid a transaction fee of approximately 1.6 BTC, more than $100,000, for sending less than $6.50 worth of cryptocurrency.
On May 4, blockchain tracking
In total, users spent 1.59 BTC to send 0.0001 BTC.
It is unknown who owns the trading and receiving wallets. Blockstream’s analysis found that the transaction was “self-transferable.”
Some wallet apps allow users to display the transaction fees they are willing to pay. Higher fees mean faster transfers, and vice versa, lower fees for those willing to wait.
If this is the case with a self-transfer, it is likely that the user mistakenly exchanged the entered amount from the wallet they used. That means, in the “Fees” area, I put in almost 1.6 BTC that I want to send and the $6.50 worth of BTC fee that I want to pay. It’s in the “Send” area, not the other way around.
Former LA mayor, Biden advisor joins Coinbase as advisor
Former Los Angeles Mayor Antonio Villaraigosa and Keisha Lance Bottoms, former Atlanta Mayor and advisor to President Joe Biden, have joined paid positions on the advisory board of cryptocurrency exchange Coinbase.
Faryar Shirzad, Coinbase’s chief policy officer, said in a May 2 report: post Villaraigosa and Bottoms’ congressional roles “will help bridge the gap between policymakers and the American people.”
Coinbase formed a global advisory board in May to strengthen its political lobbying efforts, namely to “strengthen relationships with strategic stakeholders.”
A month later, the Securities and Exchange Commission sued Coinbase, alleging that it operated as an unregistered stock exchange.
Villaraigosa told the LA Times on April 30 that he would not lobby for Coinbase, but would advise on how to lobby for a “strong and fair regulatory framework.”
The same day, Bottoms told the Atlanta Journal-Constitution that Coinbase would help give a voice to lawmakers about cryptocurrencies.
Web3 publishing site Para acquires competitor Mirror
Blockchain publishing platform Paragraph has acquired rival Mirror and is focusing on its new Web3 social media app, “Kiosk.”
“The division will assume stewardship of Mirror’s products, design system and brand,” Mirror said in a May 3 blog post.
Paragraph founder Colin Armstrong will serve as CEO, while Mirror founder and now former CEO Denis Nazarov will take on an advisory role, he added.
The paragraph also revealed that the fundraising round raised $5 million from Union Square Ventures and Coinbase Ventures. He did not say how he would use the money, and he did not immediately respond to Cointelegraph’s request for comment.
Launched in 2020, Mirror allowed writers to monetize their work by offering their articles as NFTs. Paragraph launched two years later and did something similar, but with a greater focus on newsletters.
Related: Blockchain and AI: Redefining authorship in publishing
Meanwhile, Reflective Technologies, Inc., the company behind Mirror, announced on the same day that it was launching Kiosk, a client of decentralized social media protocol Farcaster.
Introducing Kiosk, a new Farcaster client that brings social to life on-chain. pic.twitter.com/lgoWBoERpr
— Kiosk (@KioskSocial) May 2, 2024
The Kiosk team “recently raised $10 million” to build out its clients and hire its founding team in a raise led by Electric Capital, which also includes Andreessen Horowitz (a16z) and Variant, he added.
Other news
A group of Coinbase customers have sued the cryptocurrency exchange, claiming the company tricked them into buying securities and claiming the company’s business model was illegal.
Grayscale’s spot Bitcoin exchange-traded fund (ETF) recorded its first inflows of $63 million on Friday, May 3, since converting from a trust in January.
Web3 Gamer: Web3 games won’t exist in 5 years. The cost of promoting a top cryptocurrency game is $656,000.
