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

Together with

GM Defiers!

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

🙏Sponsored

Ticker	Value	24h
Bitcoin	$63,5253.58	%
Ethereum	$3,070 2.94	%
Gold 1st Future	$2,382 0.45	%
S&P 500	5011.12	-0.22 %
Arch Web	32.05 4.15	%
Learn more about Arch Indices		%

🎬 WATCH

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.

THANKING OUR NEWSLETTER SPONSORS

| NEWSLETTER CONTINUES BELOW |

NEAR is the chain abstraction stack, empowering builders to create apps that scale to billions of users and across all blockchains.

Access crypto price, market data, metadata and on-chain DEX data on CoinGecko API, the world's most reliable cryptocurrency API tracking 2.4M+ cryptocurrencies across 140 networks. Get 15% off with code “DEFIANT15” at www.coingecko.com/api!

DexToro is a decentralized derivatives exchange powered entirely by audited Ethereum smart contracts. Trade Crypto and Forex with up to 50x leverage with full custody of your assets. NO KYC.

🔍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.

💰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)