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Messages - PatrickJackson

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1
Key Highlights;
- Bitcoin and Ethereum Balloons: OKX users see a big bump in their Bitcoin and Ethereum holdings.
- Proof of Reserve Shines: OKX’s 17th snapshot reveals solid growth and trust.

Source: https://mycryptoparadise.com/okx-reveals-17th-proof-of-reserve-notable-shifts-in-bitcoin-and-ethereum-holdings/

2
Key Highlights:
- Fetch.ai, SingularityNET, and Ocean Protocol are joining forces, combining their tokens into one named ASI, aiming to shake up the AI world.
- They’re creating a new AI collective to challenge the big tech dominance with a decentralized approach, promoting transparency and collaboration.

Source: https://mycryptoparadise.com/ai-power-trio-forms-alliance-against-big-tech/

3
Crypto Discussion / Ethereum Climbs 5%, Market Cap Nears $440 Billion
« on: March 26, 2024, 02:11:41 PM »
Ethereum's price has grown by 5%, reaching a value of US$3,667. This increase is accompanied by a market capitalization that now sits at US$440.18 billion. Despite the SEC's lack of recent pronouncements, Grayscale maintains its optimistic outlook on the approval of spot Ethereum ETFs.

Concerns regarding network centralization have diminished as the client base on the Ethereum network has become more diverse. Additionally, technical indicators point towards a bullish trend for Ethereum, with support identified at US$3,205.8 and resistance at US$4,003.4.

Price forecasts for both 2025 and 2030 project significant increases, with some projections reaching as high as US$53,138 by 2030 under ideal market conditions.

4
Key Highlights:

- Curio Governance Tokens (CGT) faced unauthorized minting, leading to a significant exploit.
- The Curio team is actively developing a recovery plan and reaffirms the security of multi-chain infrastructures.

Source: https://mycryptoparadise.com/curio-ecosystem-suffers-16-million-token-exploit/

5
BlackRock, a major investment firm, has reported a noticeable trend among its clients: a strong preference for Bitcoin over Ethereum. This observation was shared by Robert Mitchnick, Head of Digital Assets at BlackRock, during Bitcoin Investor Day. He highlighted Bitcoin as the primary cryptocurrency of interest for their clients.

Despite a general rise in cryptocurrency investment, Ethereum appears to be less favored. This is further underscored by the successful launch of BlackRock's iShares Bitcoin ETF (IBIT), which underscores the significant investor interest in Bitcoin compared to Ethereum.

6
Key Highlights:
- Google has integrated Ethereum Name Service (ENS) into search results.
- This update makes Ethereum transactions more user-friendly and could boost mainstream crypto adoption.

Source: https://mycryptoparadise.com/google-simplifies-crypto-with-ethereum-name-service-integration/

7
Key Highlights:
- BlackRock introduces its first tokenized fund, BUIDL, built on the Ethereum network.
- The fund emphasizes a hefty initial investment minimum of $5 million.

Source: https://mycryptoparadise.com/blackrock-launches-buidl-tokenized-asset-fund-on-ethereum/

8
Following the Ethereum Dencun upgrade on March 13, Layer 2 adoption has witnessed a dramatic rise. Active addresses and transaction volumes are surging towards record levels. Data indicates that Layer 2 daily throughput peaked at its second-highest point on March 16, reaching approximately 136.5 transactions per second (TPS).

The upgrade, particularly EIP-4844, has demonstrably boosted transaction counts on leading Layer 2 networks, more than doubling the figures previously observed. Additionally, significant reductions in transaction fees have been observed, with some networks reporting drops exceeding 80%. This surge in Layer 2 activity coincides with persistently high transaction fees on the Ethereum mainnet. Notably, the Ethereum network has also seen a substantial increase in ETH burn rate since the Merge.

9
Key Highlights:
- MicroStrategy scoops up 9,245 Bitcoins in a week-long shopping spree.
- The acquisition cost the company a hefty $623 million.

Source: https://mycryptoparadise.com/microstrategy-adds-9245-bitcoins-to-its-treasury/

10
Key Highlights:
- The Slerf (SLERF) team’s misstep leads to an accidental burn of $10 million worth of Solana.
- Turkish investors, holding a significant stake, face disappointment as pre-sale goes awry.

Source: https://mycryptoparadise.com/shock-in-the-crypto-world-10-million-solana-burned-in-slerf-pre-sale-blunder/

11
This week's Ethereum news is dominated by the successful upgrade of the Ethereum Mainnet to Dencun Consensus-specs v1.4.0. This landmark update incorporates both the Dencun (Cancun + Deneb) upgrade and EIP-4844 (blobs). A significant outcome of Dencun is the dramatic reduction in Layer 2 fees, now hovering at cents or even lower. This improvement is attributed to the utilization of blobs by various L2 solutions like zkSync Era, Starknet, and Optimism.

Looking ahead, the newsletter details the upcoming Pectra (Prague + Electra) upgrade, tentatively scheduled for late 2024. Discussions surrounding potential EIP inclusions within Pectra are underway, with EIP-2537 BLS being a key consideration.

However, the newsletter doesn't shy away from addressing concerns regarding client diversity and potential centralization risks within the Ethereum network. It emphasizes the importance of achieving geographic and client diversity to prevent instances like chain splits or loss of finality.

12
Key Highlights:
- The SEC is on the trail of a $300 million Ponzi scheme, facing hurdles from a recent website crash.
- Alleged fraud targets Latino communities, with 17 individuals charged over illegal investment promotions.

Source: https://mycryptoparadise.com/sec-cracks-down-on-300m-ponzi-scheme-amidst-cybersecurity-scare/

13
Ethereum (ETH) has experienced a substantial price surge, breaching the $4,000 mark. This rise is attributed to a generally optimistic outlook in the cryptocurrency market and the forthcoming Dencun upgrade. However, concerns regarding the long-term viability of this growth have surfaced. Investors are increasingly seeking protection through put options, reflecting a shift towards a more cautious stance.

The market harbors apprehension about a potential price correction, particularly considering prior experiences with significant updates like the Merge. Despite these anxieties, the cryptocurrency market has witnessed an influx of roughly $83 billion, signifying a growing appetite for digital assets. While the upcoming Dencun upgrade, anticipated to lower transaction fees, fosters optimism, the uncertainty surrounding the approval of Ethereum ETFs adds a layer of complexity to the current market situation.

14
Key Highlights:
- A Bitcoin whale’s fortune balloons as BTC price skyrockets.
- Bitcoin’s value hits a new peak, stirring the crypto pot.

Source: https://mycryptoparadise.com/giant-bitcoin-holder-strikes-fortune-as-value-soars-to-73000/

15
Ethereum's price has surpassed the $4,000 mark, propelled by a surge in trading activity and the expectation of substantial upcoming upgrades. Contributing to the rising transaction volume is a notable increase in meme coin transactions occurring on the Ethereum platform.

The Dencun upgrade, scheduled for implementation,  is anticipated to introduce a technology called "proto-dank sharding" through EIP-4844. This advancement aims to significantly improve transaction processing speed and decrease costs associated with layer-2 solutions built on Ethereum.

Furthermore, the potential approval of Ether ETFs by the U.S. Securities and Exchange Commission (SEC) could further contribute to a positive market performance for Ethereum. These developments collectively point towards a bullish sentiment surrounding Ethereum, emphasizing its ongoing technological progress and the growing appeal it holds for both traders and investors.

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