🔍Google Searches for 'Bitcoin Halving' Hit All-time High

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This week, we've seen a surge in interest surrounding the upcoming Bitcoin halving, as evidenced by record-breaking searches on Google Trends.

In regulatory news, U.S. Senators have introduced a new stablecoin bill aimed at tightening controls and enhancing consumer protection, reflecting a significant stride toward mainstream acceptance.

Meanwhile, the Optimism Collective has announced a substantial incentive for developers on the Superchain, promising to bolster innovation with $22 million in grants.

Finally, CoreDAO's Core Chain is enabling native yield generation on the blockchain, marking a potential shift in the perceived utility of the world’s largest cryptocurrency.

✍️ In today’s newsletter:

• All eyes are on the Bitcoin Halving
• U.S. stablecoin legislation gets mixed reviews
• Optimism offers $22M in grants for Superchain builders
• CoreDAO offers Bitcoiners a native staking option

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• Everything You Need to Know About Consensus 2024
• Reserve Protocol’s Permissionless Stablecoin Design Hub

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Check out our interview with the founder of Script3, to learn about Blend Capital, its Stellar-based lending protocol deployment platform. We also spoke to Emin Gun Sirer, the CEO of Ava Labs, to get his take on the rapidly expanding Layer 2 sector and Avalanche’s future.

Also, watch our podcast with Mike Silagadze, the founder of EtherFi, and Nikhil Raghuveera, the co-founder of Aethos, for a preview of EigenLayer’s AVS ecosystem.

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🔍Google Searches for 'Bitcoin Halving' Hit All-time High

Despite declining cryptocurrency prices, interest in the upcoming Bitcoin halving has reached an all-time high on Google Trends. The halving, which will reduce the mining reward by 50% to 3.125 BTC per block, is generating significant attention due to its potential impact on Bitcoin's price.

Additionally, the strong demand indicated by the concentration of bids for BTC below $60,000 suggests a possible support level that could prevent further immediate declines.

⚖️New Stablecoin Bill Draws Mixed Reactions

U.S. Senators Cynthia Lummis and Kristen Gillibrand have introduced a bill to regulate stablecoins, aiming to protect consumers and promote innovation while addressing risks like money laundering.

Key features of the Payment Stablecoin Act include a 1:1 reserve requirement, a ban on algorithmic stablecoins, and a dual federal and state regulatory system. The bill has stirred mixed reactions, with some seeing it as a positive step towards broader adoption and safer practices, while others criticize it for potentially stifling innovation and favoring larger, incumbent stablecoins.

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LightLink Will Start a Fair $LL Token Distribution this week.

LightLink, a hidden gem EVM L2 with gasless transactions, is set to distribute its native token $LL through Fjord Foundry's Liquidity Bootstrapping Pool (LBP) this week!

• Gasless Layer 2.
• Celestia underneath.
• 115,000 daily transactions on Mainnet.
• Partnered with Animoca Brands and 25+ other ecosystem projects.
• $6.2M in seed round from both Web2 and Web3 investors.

Among common token utilities, $LL holders will be able to acquire NFT nodes to become LightLink validators and earn rewards.

LightLink will distribute $LL through Fjord Foundry's LBP. Its price decay mechanisms deter whales, while users purchase tokens at a fair price. Currently, Fjord is one of the most popular IDO platforms, with $131M raised in Q1 2024.

READ MORE: LightLink Will Start a Fair $LL Token Distribution this week

💰Optimism Offers $22M in Grants to Superchain Builders

The Optimism Collective is allocating 10 million OP tokens, worth about $22 million, to support developers on the Superchain, an Optimism-based interoperable blockchain network.

Registration will be open from May 23 to June 6, with grants to be disbursed on July 15. This initiative aims to encourage development on Optimism by rewarding projects that drive demand for its block space, engage users meaningfully, and embrace open-source practices.

🏦CoreDAO Brings Native Staking To Bitcoin

CoreDAO has launched Core Chain, a novel blockchain that allows Bitcoin holders to earn yield using a hybrid of Delegated Proof of Stake (DPoS) and Delegated Proof of Work (DPoW) mechanisms.

This innovation enables Bitcoin to be staked natively, bypassing the need to wrap it on other chains, which could unlock significant Bitcoin liquidity. Since its launch in early 2023, Core Chain has gained substantial traction, with approximately 50% of Bitcoin's hashrate participating.

🌍 ELSEWHERE

• Bitcoin Rebounds From Losses Sparked by Geopolitical Tension (Bloomberg)
• Worsening US debt outlook seen more in gold and bitcoin than in bonds (Reuters)
• Crypto Markets Will Be Driven by Macro Factors Following the Halving, Coinbase Says (CoinDesk)

🔥 TRENDING

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