1ATH.Studio Altcoin Weekly

The Altcoin Report: A Weekly Overview of the Crypto Market

4 min readApr 28, 2024

An in-depth look at the emerging trends and innovations in the Altcoin market, helping you make informed decisions.

ConsenSys Takes Legal Action Against SEC, Questioning Ethereum Regulation

ConsenSys, a prominent developer in the Ethereum ecosystem, has launched a lawsuit against the U.S. Securities and Exchange Commission (SEC), challenging what it describes as an “unlawful seizure of authority” over Ethereum regulation.

This legal action aims to secure a federal court declaration that Ethereum (ETH) is not a security, arguing that any SEC investigation premised on such a classification violates ConsenSys’s Fifth Amendment rights and the Administrative Procedures Act.

Solana Memecoins Presale Controversy: 12 Projects Abandoned Within a Month

A dozen Solana presale memecoin projects have been abandoned in the past month after collectively raising $26.7 million, according to blockchain investigator ZachXBT. In an April 21 X post, ZachXBT revealed that these 12 projects employed a controversial presale strategy to raise capital. Unfortunately, many of these memecoins have since seen a sharp decline in value, with one of them failing to even launch a token.

Shiba Inu Raises $12 Million Through New Token “TREAT”

The creators of Shiba Inu, the popular memecoin, have raised $12 million by selling their unreleased token, TREAT, to venture capital investors outside the U.S.

This fundraising round attracted significant investment from well-known firms, including Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital, and Comma 3 Ventures.

Only1 Secures $1.3 Million for Adult Content Platform on Solana

Blockchain-based content platform Only1 has completed a $1.3 million strategic funding round led by Newman Group, raising its total funding to $4.8 million. This latest investment is intended to support the development of an adult content platform on the Solana blockchain, similar to OnlyFans. Only1 has also teased the addition of new creators with a combined following of over ten million fans, signaling exciting growth prospects for the platform.

‘Buy Bitcoin’ Sign that Appeared Behind Janet Yellen Sells for $1 Million

A yellow notepad bearing the phrase “Buy Bitcoin,” which famously appeared behind then-United States Federal Reserve Chair Janet Yellen during a 2017 congressional hearing, has been sold at auction for 16 Bitcoin, worth over $1 million at the current rate.

The winning bidder, known as “Justin” or “Squirrekkywrath,” secured the notepad through an auction on the Bitcoin platform Scarce City. The auction ran for a week and concluded on April 24, just after 11:00 pm UTC.

CryptoPunk NFT Fetches $12.41 Million in Sixth-Highest Sale Ever

CryptoPunk #635 recently sold for 4,000 ETH, approximately $12.41 million, making it the sixth-highest CryptoPunk NFT sale to date. This significant sale took place on Thursday and was noteworthy not only for its high value but also because it was lower than a previous bid on March 5, when someone offered 4,440 ETH, then worth $16.38 million. However, that bid was withdrawn on April 22.

Top Altcoin Gainers and Losers

Meme of the Week:

Solana Presale Dev’s Enjoying the Holidays After Rugging Over $250M Worth of Projects in One Month

Altcoin of the Week

Hedera — HBAR

Coingecko: Hedera is a decentralized public network where developers can build secure, fair applications with near real-time consensus. The platform is owned and governed by a council of global innovators including Avery Dennison, Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.

The Hedera Consensus Service (HCS) acts as a trust layer for any application or permissioned network and allows for the creation of an immutable and verifiable log of messages. Application messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered. Use HCS to track assets across a supply chain, create auditable logs of events in an advertising platform, or even use it as a decentralized ordering service.

Price — $0.1067

Market Cap — $3,813,262,865

Fully Diluted Valuation — $5,334,308,909

24 Hour Trading Vol — $104,932,964

Circulating Supply — 35,742,801,270

Total Supply — 50,000,000,000

Max Supply — 50,000,000,000




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