Hey there and welcome to this week's latest round up of key news and top projects to watch.
Plus, in anticipation of our upcoming automated insights feature, we have a special market insight to share with you. Remember, always DYOR and treat any information here as for informational purposes only 🙂
Contents
- Insight of the week
- Weekly Projects to Watch
- Top News This Week
- Fresh Content from the Team
Insight of the week 🆕
Horizen is a privacy-focused cryptocurrency and blockchain project. Its goal is to solve scaling and security issues found in layer 1 networks, like Ethereum.
Stack recently detected that price level indicators for the top ranked project (94/100) $ZEN/$USDT have recently shifted positive.
We analyzed 16 past occurrences when this specific indicator was triggered and found that it lead to an average increase in price of 28.4% over a 30-day period and 159.6% over a 90-day period.
The fundamentals of the project also look solid, with Stack reporting comparatively strong social (91) and developer (82) metrics.
If you're interested in investing in Horizen, you can trade it on Binance (affiliate link). This is not investment advice.
Weekly Projects to Watch
You're viewing the limited free edition. Upgrade to Premium for just $25/month to view all data & more.
Top risers by Coinrank
- 🔒 Upgrade to view
- Holo ($HOT) ⬆️ 2%
- THORChain ($RUNE) ⬆️ 2%
- Monero ($XMR) ⬆️ 1%
- Audius ($AUDIO) ⬆️ 1%
Top risers by Dev Rank
- 🔒 Upgrade to view
- VeChain ($VET) ⬆️ 4%
- The Graph ($GRT) ⬆️ 3%
- Kadena ($KDA) ⬆️ 3%
- Monero ($XMR) ⬆️ 3%
Top risers by Social Rank
- 🔒 Upgrade to view
- Pocket Network ($POKT) ⬆️ 1%
- Holo ($HOT) ⬆️ 1%
- Lido DAO ($LDO) ⬆️ 0.4%
- Zcash ($ZEC) ⬆️ 0.3%
Top small cap risers by Coinrank
- 🔒 Upgrade to view
- Remme ($REM) ⬆️ 71%
- Hydro ($HYDRO) ⬆️ 63%
- Swarm City ($SWT) ⬆️ 61%
- Gulden ($NLG) ⬆️ 57%
Top News This Week
Tesla will start mining Bitcoin with solar power, and Elon Musk offered to buy Twitter for $54.20 per share.
Tesla is planning on mining Bitcoin through the utilization of solar energy. The EV market maker will be partnering with the payments firm Block Inc. and Blockstream as a means of mining Bitcoin through the usage of a solar power infrastructure that Tesla will build. Elon Musk will not be joining the Twitter board, according to the CEO, Parag Agrawal, an announcement which came a week after Agrawal said that Musk was joining the board of directors of Twitter.
Due to this, Elon Musk offered to buy 100% of Twitter for $54.20 per share after taking a 9.13% stake in the company.
Metaverse and NFT developments with Mastercard, Sony, and Lego
Mastercard has filed for more than a dozen metaverse and crypto trademarks. Specifically, the filling followed a larger trend in the financial services sector as well as its move within the crypto sphere.
Mastercard made 15 filings, with an April 7 status date, which includes NFT-backed multimedia, marketplaces for digital goods and payment transaction processing, as well as e-commerce software business transactions in the metaverse.
Sony and Kirkbi, which is the family-owned investment firm behind Lego, also invested $2 billion in the Fortnite maker known as Epic Games. This was a deal, which is subject to customary closing conditions, that would evaluate Epic at $31.5 billion and has occurred after Epic and Lego announced their plans towards co-developing a "family-friendly" metaverse for kids.
The CEO of Amazon, Andy Jassy, told CNBC that he does not own any Bitcoin (BTC) cryptocurrency but has remained interested in the future of cryptocurrencies and NFTs, saying that Amazon could, potentially, one day sell NFTs at some point in the future.
Ethereum launched the first mainnet shadow fork in preparation for the Merge.
Ethereum's current Proof-of-Work (PoW) is entering the final chapter as the groundbreaking Merge is postponed. The Merge was slated for the second quarter of 2022. However, Tim Beiko revealed that it had been pushed to Q3 of 2022. However, Ethereum did launch the first mainnet shadow fork. According to the Ethereum Foundation developer, Parithosh Jayanthi, the fork adds merge-related fields to the configs of the existing testnets. Another Ethereum Foundation developer, Van Der Wijden, called the shadow fork a "historical event." This is due to the fact that syncing and block construction time may be stress-tested, and the shadow fork stays connected to peers on the canonical Ethereum chain, which means that some transactions will appear on both chains.
The aftermath of Axie Infinity’s Ronin Network’s hack
The Ronin Exploiter ended up moving 21,000 Ether to Tornado Cash throughout the past week, where the stash is worth over $65 million at the current prices. Data has showcased that these funds were moved to the privacy exchange, where the exploited seem to have made several trades of 100 ether each from all those wallets.
After the $650 million Ronin bridge hack, the studio behind the game Axie Infinity, Sky Mavis, has been taking measures to try and secure the network and win back the confidence of the users. They announced a $1 million bug bounty program that invites white hat hackers to stress-test the blockchain network.
The United States has linked North Korean hackers to the theft of hundreds of millions of dollars in cryptocurrency, which is tied to the popular online game, Axie Infinity, according to a report by the U.S. Treasury Department. No one has exactly assigned blame for the hack, but they did identify a digital currency address that was used by the hackers as being under the control of a North Korean hacking group dubbed "Lazarus."
Meta might take nearly a 50% cut on metaverse asset sales within its metaverse.
Meta has announced their plans to take a cut of up to 47.5% on the sale of digital assets within its virtual reality platform known as Horizon Worlds, which is an integral part of the company's overall goal of creating a metaverse. This figure includes a hardware platform fee of 30% of sales made through the Meta Quest Store, where it sells apps as well as games for its virtual reality headsets.
Additionally, Horizon Worlds will charge a 17.5% fee on top of that, and Meta's fees for the sale of virtual assets are significantly more when compared to what Apple charges developers on its App Store, which is 30%.
Fresh Content From the Team
Thanks for reading,
The Stack Team
|