NFT

Coinbase's Base Network Sees Surge in Active Addresses

Tuesday. August 20 at 8:00 PM

1 min. read

Coinbase's layer-2 solution Base recorded over 4 million active addresses last week, marking a new high. Head of Base, Jesse Pollak, shared data from Dune Analytics, highlighting the network's growth. The surge in active addresses is part of Base's 'Onchain Summer' campaign to promote development on the network. In 2023, the campaign led to over 700,000 NFTs minted on Base, attracting $242 million in crypto. Following last year's success, Base relaunched the event in 2024, offering $2 million in rewards for developers. Collaborating with AtariX, Base introduced classic arcade games on the blockchain, although some questioned the authenticity of the onchain integration. Stackr Labs founder Kautuk Kundan claimed to have hacked Atari's game to demonstrate its off-chain nature. Despite the controversy, Base's initiative aims to foster creativity and innovation within the blockchain ecosystem.

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SEC Expands Lawsuit Against Binance

Saturday. September 14 at 4:00 AM

The US Securities and Exchange Commission has broadened its lawsuit against Binance by including more tokens as securities. The updated legal filings now mention tokens like Axie Infinity Shards (AXS), Filecoin (FIL), ATOM, SAND, and MANA as securities. This move is part of the SEC's ongoing efforts to regulate the crypto industry and classify digital assets as securities. The regulator accuses Binance and its US affiliate of facilitating the trade of unregistered securities and promoting these tokens to customers. The SEC also reiterates that Binance operated illegally as an unregistered exchange, broker-dealer, and clearing agency. The lawsuit has drawn criticism, with the SEC facing scrutiny for its contradictory statements. The chief legal officers at Ripple and Coinbase have questioned the SEC's actions, highlighting inconsistencies in its approach to crypto asset regulation.

NFT

The Demise of Celebrity Meme Coins

Friday. September 13 at 10:30 PM

A celebrity-endorsed meme coin, promoted by Neymar Jr and Roger Waters, failed to gain traction, resulting in a meager market cap of $19,000 and minimal liquidity. The token, AB, was shared by high-profile Twitter accounts in what seemed like a coordinated hack. Despite reaching millions of users, the coin's value plummeted, leading to criticism from experts. This incident reflects a broader trend of celebrity meme coins facing skepticism from investors, following previous instances of similar tokens crashing after initial hype. The failure of this particular coin, along with past scams involving celebrities like Caitlyn Jenner and Metallica, signals a shift in investor sentiment towards such projects. Analysts suggest that the era of celebrity-backed meme coins may be coming to an end, as traders become more cautious in light of recent high-profile failures.

NFT

Evolution of 3D Animation Technologies and Web3 Collaboration

Friday. September 13 at 10:00 PM

Animation studios are embracing Web3 to engage audiences through digital assets. Locus, a 3D animation studio, has partnered with MEW on the Solana blockchain to create a 3D animation series. This collaboration aims to expand MEW's reach beyond the crypto space and enhance its global recognition. Sujin Hwang, from Locus, discusses how advancements in 3D animation technologies have revolutionized content production. Real-time rendering and AI tools have improved visual effects and character animations, making storytelling more immersive. The collaboration with MEW introduces its characters through animation, merchandise, and digital assets, aiming to attract new fans and generate revenue. Web3 offers transparent business models and global market access, providing new revenue streams for studios like Locus. By creating Web3-native IPs, such as MEW, studios can engage fans actively and foster a sense of ownership, driving community growth and revenue opportunities.

NFT

Surge in Popcat Price Following Kraken Exchange Support

Friday. September 13 at 5:00 PM

The price of the Solana meme coin Popcat (POPCAT) has surged after Kraken exchange announced its support for spot trading. Following Binance's listing of the POPCAT perpetual contract, the coin had already seen a 30% increase. With Kraken set to add Popcat on September 19, 2024, the price rose from $0.58 to $0.67. CoinGecko data indicated a 10% increase, with the price hovering around $0.66. Popcat is currently available on various exchanges, including Bybit and Kucoin, but major platforms like Binance and OKX are yet to offer spot trading. Kraken's move has been well-received by the community, signaling a positive step towards increased visibility. While the current price is significantly higher than the all-time low, there is still room for growth towards the all-time high of $0.99. Other meme coins like SUNDOG and CAT have also experienced upward trends recently.

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