🚀JUP Aidrop Distributes $680M Worth Of Tokens
Jupiter's airdrop is among the ten-largest in history, with early adopters receiving more than $680M worth of JUP tokens. The Solana-based decentralized exchange instantly emerged as the sixth-largest DEX by market cap following the token's launch.
Ethereum's Dencun upgrade was deployed to the Sepolia testnet without issue, marking the second of three testnet launches. The price of ETH is also up after the Standard Chartered bank tipped that spot Ether ETFs will receive regulatory approval in May.
Ethereum's Layer 2 ecosystem continues to expand, with Immutable launching the early access mainnet phase for its Polygon-powered zkEVM. Manta's native token is also at a more than $3.5B valuation 10 days after launching.
Ripple's co-founder lost $112M worth of XRP to hackers, but was able to notify exchanges to limit damages. Hackers also exploited the Abracadabra lending protocol for $6.5M.
Plus, Binance Labs invested in a project bringing liquid Ethereum restaking to BNB Chain, Vitalik penned his thoughts on possible convergences between AI and blockchain, and both German Police and the U.S. Drug Enforcement Agency announced record Bitcoin forfeitures.
✍️ In today’s newsletter:
- JUP airdrop worth $680M
- Dencun live on Sepolia
- Ether up on ETF speculation
- Ripple co-founder hacked for $112M
- Abracadbra's $6.5M exploit
- Binance invests in Puffer
- Vitalik on AI and web3
- German police seize $2.17B in BTC
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JUP Token Rockets to Top 10 DEX by Market Cap Minutes After Launch
TLDR Jupiter is now the sixth-largest decentralized exchange by market cap after dropping its JUP token to early adopters. The token currently boasts a more than $910M market cap.
SO WHAT The token generation for the Solana-based DEX ranks among the ten-largest airdrops all-time, according to data from CoinGecko.
Ethereum’s Dencun Upgrade Goes Live On Sepolia Without A Hitch
TLDR Ethereum's highly-anticipated Dencun upgrade was deployed to the Sepolia testnet without issue. The launch marks the second of three testnet dress rehearsals for Dencun.
SO WHAT Dencun is set to significantly reduce the transaction fees on Layer 2 by replacing gas-intensive calldata with blobs. The upgrade will allow Ethereum's L2 ecosystem to rival alternative Layer 1s for gas fees while inheriting the robust security guarantees from Ethereum's consensus layer.
Alright, here’s your alpha. Nibiru Chain’s Engagement Airdrop is nearing, offering learning and engagement rewards. As an emerging L1 blockchain, Nibiru stands out for its innovative tech and emphasis on developer and user-centricity. The community has grown astronomically since testnet. Whether you’re an existing community member or just arrived, Nibiru invites you to join the airdrop.
Explore Nibiru and earn rewards through this exciting initiative. Accumulate Nibi Points by creating or engaging with Nibiru’s content on X, and redeem them later for qualifications and rewards. All you need is an X account, a Nibiru-compatible wallet (like Leap), and to be in a legally permissible region*.
For real-time updates, follow Nibiru on socials.
*For eligibility criteria please see the article below
READ MORE: Nibiru Chain’s Gamified Engagement Airdrop
Ether Rallies After Standard Chartered Predicts ETF Approval In May
TLDR ETH is up 2% intraday after Standard Chartered, the major multinational bank, tipped that the U.S. Securities and Exchange Commission will approve the first spot Ether ETFs in May.
SO WHAT Hype leading up to the approval and launch of the first spot Bitcoin ETFs drove an impressive recovery across the digital asset markets during Q4 2023. Unlike existing futures ETFs, a spot Ether ETF would directly invest in and hold ETH, driving bullish pressure on the supply of Ether.
Hackers Drain $112M in XRP Tokens From Ripple Co-Founder's Wallet
TLDR Hackers were able to take control of the personal wallets of Chris Larsen, the co-founder of Ripple.
SO WHAT The exploit resulted in $112M worth of XRP getting siphoned from Larsen's wallets. However, Larsen said the incident was quickly identified, with the damages limited after centralized exchange froze wallet associated with the hack.
Lending Protocol Abracadabra Hit By $6.5M Exploit
TLDR Abracadabra, the decentralized lending protocol, suffered a $6.5M exploit after attackers manipulated its v3 and v4 cauldrons on Ethereum. The hackers quickly swapped the ill-gotten MIM stablecoins for ETH.
SO WHAT MIM has lost its peg following the hack, last changing hands for $0.975. Abracadabra reached out to the hacker on-chain but has not received a response.
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Binance Labs Invests In Bringing Ethereum Restaking To BNB Chain
TLDR Binance Labs, the venture capital wing of the major centralized exchange, announced it has invested in Puffer Finance, a project aiming to bringing liquid Ethereum restaking onto BNB Chain.
SO WHAT Liquid restaking allows users to earn Ethereum staking and EigenLayer restaking rewards simply by holding a token. The news comes as the liquid restaking sector has ballooned to $900M TVL.
Vitalik Buterin Outlines Synergies Between AI and Blockchains
TLDR Vitalik Buterin, the co-founder and chief scientist of Ethereum, has weighed in on potential use cases converging blockchain and artificial intelligence. Buterin listed prediction markets, transaction UI, and DAO governance as promising applications for AI within web3.
SO WHAT While the rapidly evolving AI sector is making waves within the mainstream economy following the launch of ChatGPT, developers have struggled to find unique applications for the technology within the web3 space. Buterin's blog offers a potential roadmap for developers seeking to leverage AI and blockchain to explore.
German Police and DEA Announce Record BTC Seizures
TLDR Global law enforcement has announced record Bitcoin seizures. More than $2B worth of assets were forfeited to German police, coming several days after the U.S. Drug Enforcement Agency announced a record seizure of $150M.
SO WHAT The U.S. government is already among the largest BTC holders after numerous large crypto seizures, with its wallets already holding more than $8.4B prior to the latest forfeiture.