1ATH.Studio Altcoin Weekly
Weekly Digest and Top Stories
SEC Issues Wells Notice to DeFi Protocol Uniswap
The SEC has just served a Wells notice to the decentralized exchange Uniswap. Marvin Ammori, Uniswap’s chief legal officer, confirmed the news on X (formerly Twitter) on April 10. He expressed disappointment but noted that this move by the SEC wasn’t entirely unexpected. Ammori argued that while the notice is a setback, it’s a part of the ongoing regulatory challenges facing the crypto industry.
Ethereum’s Upcoming Pectra Upgrade to Include EIP-3074
Exciting update for Ethereum enthusiasts: The long-awaited EIP-3074 is set to be included in the upcoming Pectra upgrade, scheduled for release later this year. This enhancement will significantly improve user experience by enabling the delegation of certain functions to smart contracts, making wallet interactions more efficient.
Generation Z and Millennials Choose Crypto Over Stocks
A recent Policygenius Financial Planning Survey highlights a fascinating shift among young Americans: Gen Z and millennials are now favoring cryptocurrencies over traditional stocks. Conducted with 4,063 adults in the U.S. from October 16 to 19, the survey reveals a growing inclination towards alternative investments like cryptocurrencies and NFTs among the younger crowds. It seems the future of investing might just look a bit different!
MarginFi Experiences Major Outflows Following Edgar Pavlovsky’s Resignation
The resignation of Edgar Pavlovsky from MarginFi, a leading Solana-based DeFi lending and borrowing platform, has triggered significant financial repercussions. Following his departure due to internal disputes, MarginFi witnessed substantial outflows, with DefiLlama reporting a $155 million reduction around the time of the announcement. The protocol’s total value locked (TVL) plummeted to $524 million from $738 million the previous day, further descending from $811 million at the month’s start.
Wormhole’s W Token Experiences Significant Drop Post-Airdrop
Wormhole’s W token just took a major hit. After kicking off with a big debut airdrop, the token’s price plummeted over 50% in just a week. It started at $1.66 and has now dropped to just $0.82. That’s a sharp 50.6% dive from its initial trading price.
Sushi DAO’s Controversial Proposal Advances Post Community Vote
A major governance proposal at Sushi DAO just made it through an initial community vote. The proposal, which involves moving over $40 million in treasury assets to a new Labs model, received 62.5% approval. This vote was mainly to feel out the community’s take on restructuring. With the final implementation vote currently sitting at an 83% approval rate, the decision will wrap up on April 17.
Solana Devs Target April 15 for Failed Transactions’ Fix
The developers have set their sights on April 15 to roll out a fix for an “implementation bug” that recently sent the transaction failure rate soaring on the Solana network.
Mert Mumtaz, CEO of Helius Labs, emphasized that this is not a design flaw but rather an implementation bug. Speaking to his 108,000 followers on X (formerly Twitter) on April 8, Mumtaz clarified, “It’s crucial to understand the difference because implementation errors are usually simpler to fix, whereas design errors are more serious and fundamental.”
Top Altcoin Gainers and Losers
Meme of the Week:
Solana Users Watching Transactions Get Approved in 5Secs on Other Blockchain
Altcoin of the Week
Toncoin — TON
Toncoin is TON Blockchain’s native cryptocurrency. It is used for network operations, transactions, games or collectibles built on TON.
The trading volume of Toncoin (TON) is $1,000,772,356 in the last 24 hours, representing a 11.00% increase from one day ago and signalling a recent rise in market activity.
Price — $6.48
Market Cap — $22,101,242,104
Fully Diluted Valuation — $32,508,956,330
24 Hour Trading Vol — $1,008,423,146
Circulating Supply — 3,470,801,308
Total Supply — 5,105,241,059
Max Supply — ∞
