Are Memecoins Causing Trouble on Solana? 🤔

Explore the latest industry news, insightful data, and exciting updates from CoinMarketCap. ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌     ͏ ‌       [CoinMarketCap Spotlight Logo](~/AAQRxQA~/RgRn8mcIP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPXdhd3gzcGMyNWVteVcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)   The crypto space has experienced major shifts over the past 24 hours, and it wasn't just Bitcoin painting the charts green with its (brief) surge past $69,000. No, the industry was crackling with activity on multiple fronts – from ambitious new projects to regulatory rumblings and network hiccups. The air was thick with the smoke of change, innovation, and perhaps a few controversies. So here we are, diving into today's top stories. But first, here is a rundown of the top headlines: - Bitcoin hit $69K before settling at $66K. What caused this sudden surge? 🔥 - Ripple's new stablecoin ambitions aim to wrestle market share from USDT and USDC. But how do they plan on achieving the market share? 🤔 - eToro faces regulatory heat in the Philippines for unlicensed operations. Do cryptos count as unregistered securities? 🇵🇭 - Ethena Labs brings Bitcoin as collateral for USDe stablecoin. Can BTC's liquidity tame volatility? 💥 - Memecoin mania clogs Solana's network with failed transactions. Do devs have a plan to prevent this issue? ⚡️ - Australia's first spot Bitcoin ETF application filed. Don’t they already have crypto ETF products? 🧐 And with that teaser, let's dive into these stories! MARKET OVERVIEW GLOBAL MARKET CAP 2.49T -0.58% (24h) 24H MARKET VOLUME $102.1B 12.19% (24h) BITCOIN’S DOMINANCE 52.83% 0.82% (24h) FEAR & GREED INDEX 75 Greed [ALL CRYPTO PRICES/DATA »](~/AAQRxQA~/RgRn8mcIP0QraHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS8_bGlkPW9lZzQzZGZ2bHlrdFcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) [TRENDING CRYPTO »](~/AAQRxQA~/RgRn8mcIP0RFaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS90cmVuZGluZy1jcnlwdG9jdXJyZW5jaWVzLz9saWQ9dDRudWp6eXl4YXd5VwNzcGNCCmYECOIPZn-INm1SG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) [NEW LISTINGS ON CMC »](~/AAQRxQA~/RgRn8mcIP0QvaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9uZXcvP2xpZD0yb21sZDE1Zm9zNjBXA3NwY0IKZgQI4g9mf4g2bVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) [TRENDING DEX PAIRS »](~/AAQRxQA~/RgRn8mcIP0RAaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9kZXhzY2FuL3RyZW5kaW5nL2FsbC8_bGlkPXR3YmdmcjJ4NG9pa1cDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) Data as of: 05 Apr 2024 11:30 UTC [Gainer Icon] TOP GAINERS 24H% [Project Icon 4] [MINO INU](~/AAQRxQA~/RgRn8mcIP0QuaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL21pbm8taW51L1cDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▲1005.32% [Project Icon 5] [Oxygen](~/AAQRxQA~/RgRn8mcIP0QsaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL294eWdlbi9XA3NwY0IKZgQI4g9mf4g2bVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) ▲360.32% [Project Icon 6] [Cheems](~/AAQRxQA~/RgRn8mcIP0QsaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2NoZWVtcy9XA3NwY0IKZgQI4g9mf4g2bVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc) ▲338.43% [Loser Icon] TOP LOSERS 24H% [Project Icon] [AstraDEX](~/AAQRxQA~/RgRn8mcIP0QuaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2FzdHJhZGV4L1cDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~) ▼100.0% [Project Icon 2] [CHARTAI](~/AAQRxQA~/RgRn8mcIP0QtaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL2NoYXJ0YWkvVwNzcGNCCmYECOIPZn-INm1SG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) ▼98.9% [Project Icon 3] [Selfie Cat](~/AAQRxQA~/RgRn8mcIP0QwaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9jdXJyZW5jaWVzL3NlbGZpZS1jYXQvVwNzcGNCCmYECOIPZn-INm1SG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~) ▼88.03%   Bitcoin Hits $69K Bitcoin is painting the crypto charts green again! The OG crypto blasted past $69,000 momentarily before coming back down to $66K (at the time of writing). This move was loud and proud - fueled by some good old-fashioned spot market buying. Bitcoin whales were out hunting. The surge didn't go unnoticed in derivatives either. As BTC burst through $68,620, over $32 million worth of liquidations hit the order books like a tidal wave. So what caused this sudden surge in Bitcoin’s price? [Read the full story](~/AAQRxQA~/RgRn8mcIP0SUaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvYml0Y29pbi1zdXJnZXMtdG8tZG9sbGFyNjlrLWRyaXZlbi1ieS1zcG90LW1hcmtldC1idXlpbmctYW5kLWltcGVuZGluZy1zaG9ydC1saXF1aWRhdGlvbnM_bGlkPTQ3OG9lbWo0dTdoblcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Ripple’s New Stablecoin The tides seem to be shifting in the stablecoin seas as Ripple prepares to launch an ambitious new contender backed by the U.S. dollar. After years focused on cross-border payments powered by XRP, the blockchain firm is charging headfirst into the $150 billion stablecoin market. Ripple aims to wrestle market share from the reigning USDT and USDC stablecoins with a transparency-fueled approach. But how do they exactly plan to compete with Tether and Circle? And how will this stablecoin benefit XRP? [Read the full story](~/AAQRxQA~/RgRn8mcIP0RwaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvcmlwcGxlLXRvLWxhdW5jaC1hLXN0YWJsZWNvaW4tYmFja2VkLWJ5LXRoZS11cy1kb2xsYXI_bGlkPXQ3c2loaHk4eGIxNlcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   eToro Faces Troubles in the Philippines eToro is now facing troubles with regulation in the Philippines. The country's SEC is accusing the wildly popular platform of operating without a license and offering unregistered securities. Despite being a registered broker-dealer in multiple global jurisdictions, Filipino regulators maintain that eToro has failed to meet the legal requirements to ply its trading services in the Philippines. Do these securities include cryptocurrencies? [Read the full story](~/AAQRxQA~/RgRn8mcIP0R6aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvcGhpbGlwcGluZS1zZWMtc2xhbXMtZXRvcm8tZm9yLW9mZmVyaW5nLXVucmVnaXN0ZXJlZC1zZWN1cml0aWVzP2xpZD1iZHZ4ZjB4N3QyZ3JXA3NwY0IKZgQI4g9mf4g2bVIbdHJpc3RyYW1iYWxkd2luOTJAZ21haWwuY29tWAQAAAMc)!   Ethena Labs Brings Bitcoin Into the USDe Stable Ethena Labs is bringing Bitcoin as collateral for its USDe. With a current supply of $2 billion, the move promises some serious scaling potential for USDe. With Bitcoin's open interest galloping from $10 billion to $25 billion on major crypto exchanges over the past year, Ethena sees USDe's supply potentially expanding by a factor of 2.5x. According to the ranch hands at Ethena, adding BTC to the collateral mix will enhance liquidity and provide a safer and better experience for USDe holders. They point to Bitcoin's derivative markets outpacing Ethereum's in growth, offering better scalability and liquidity for those all-important delta hedges. But what about the times of volatility? [Read the full story](~/AAQRxQA~/RgRn8mcIP0R2aHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvZXRoZW5hLWxhYnMtZXhwYW5kcy11c2Rlcy1jb2xsYXRlcmFsLXRvLWluY2x1ZGUtYml0Y29pbi1idGM_bGlkPTRyNTllbG0yc3NyOFcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Congrats to the Season 1 KillerWhales Winners! 🏆 Ape Water 🏆 Catbotica 🏆 Wallet Guard 🏆 Phantom Galaxies 🏆 Netvrk [Killer Whales Season 1 Winners] Only these projects had what it takes to face the Whales head-on and emerge victorious with a perfect 5/5 'SWIM' vote. If you believe your Web3 Project has what it takes to join their ranks, get ready! Applications for Season-2 will open VERY soon.   Solana's Transaction Delays The Solana network is facing a meme-sized meltdown as an onslaught of memecoin mania puts its transaction processing to the test. According to Dune Analytics, a whopping 75% of non-vote transactions on Solana are currently failing to go through. The congestion has left many Solana users feeling, well, frustrated. Rants about failed transfers and deteriorating user experiences have been flooding the Solana sphere of X. Clearly, this memecoin mania isn’t cooling down anytime soon. Are Solana devs working on strategies to tackle this issue in the future? [Read the full story](~/AAQRxQA~/RgRn8mcIP0SFaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvc29sYW5hLW5ldHdvcmstZmFjZXMtaGlnaC1mYWlsdXJlLXJhdGUtaW4tdHJhbnNhY3Rpb25zLWFtaWQtbWVtZWNvaW4tbWFuaWE_bGlkPWwzaHl1bW4ybmpwcVcDc3BjQgpmBAjiD2Z_iDZtUht0cmlzdHJhbWJhbGR3aW45MkBnbWFpbC5jb21YBAAAAxw~)!   Australia’s First Spot Bitcoin ETF Australian investment firm Monochrome Asset Management has applied to list its flagship Monochrome Bitcoin ETF on Cboe Australia - one of Cboe Global Markets' five global exchanges. The move marks a departure from Monochrome's initial plans to debut the ETF on the higher-volume Australian Securities Exchange (ASX). However, the firm cited key factors aligning with its goals in opting for the Cboe Australia listing venue instead. If approved, the Monochrome Bitcoin ETF would etch its name in Aussie history as the country's first spot Bitcoin ETF - allowing direct investment exposure to the world's largest cryptocurrency. But doesn’t Australia already have two Bitcoin ETFs? [Read the full story!](~/AAQRxQA~/RgRn8mcIP0SEaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvbW9ub2Nocm9tZS1hcHBsaWVzLWZvci1hdXN0cmFsaWFzLWZpcnN0LXNwb3QtYml0Y29pbi1ldGYtdmlhLWNib2UtbGlzdGluZz9saWQ9bTczeHEzYnc2OW5mVwNzcGNCCmYECOIPZn-INm1SG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)   Ban on Crypto Mining? Paraguay's energy grid is feeling the heat, quite literally. With temperatures soaring, electricity demands are scorching, putting a major strain on the country's power supply. In the crosshairs? Crypto mining farms, the energy-guzzling operations threatening to overload circuits nationwide. So lawmakers have revealed a new proposal to tackle the issue - by hitting pause on all crypto mining activities. Their bold bill suggests a temporary ban on creating, storing and selling cryptocurrencies within Paraguay's borders But it's not as straightforward as flipping a switch. Even simple tasks like crypto staking or keeping assets in a wallet might inadvertently violate the proposed law. But how does a bill halting crypto mining threaten staking and holding cryptocurrencies? [Read the full story](~/AAQRxQA~/RgRn8mcIP0SNaHR0cHM6Ly9jb2lubWFya2V0Y2FwLmNvbS9hY2FkZW15L2FydGljbGUvcGFyYWd1YXktZmFjZXMtcG93ZXItc3RydWdnbGVzLWFzLWxhd21ha2Vycy1wcm9wb3NlLXRlbXBvcmFyeS1iYW4tb24tY3J5cHRvLW1pbmluZz9saWQ9M2FkbDQ0em13YjdoVwNzcGNCCmYECOIPZn-INm1SG3RyaXN0cmFtYmFsZHdpbjkyQGdtYWlsLmNvbVgEAAADHA~~)!   And that’s a wrap! 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