Hi there, welcome to this week's Stack newsletter. We've got a roundup of top projects to keep an eye on and all the important stories you need to be aware of.
Contents
- Weekly Projects to Watch
- Top News This Week
- Fresh Content from the Team
Weekly Projects to Watch
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Top risers by Coinrank
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- THORChain ($RUNE) ⬆️ 7%
- Quant ($QNT) ⬆️ 2%
- Arweave ($AR) ⬆️ 1%
- LEO Token ($LEO) ⬆️ 1%
Top risers by Dev Rank
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- Stacks ($STX) ⬆️ 11%
- THORChain ($RUNE) ⬆️ 6%
- VeChain ($VET) ⬆️ 3%
- Kadena ($KDA) ⬆️ 3%
Top risers by Social Rank
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- Filecoin ($FIL) ⬆️ 0%
- Arweave ($AR) ⬆️ 0%
- Radix ($XRD) ⬆️ 0%
- NEAR Protocol ($NEAR) ⬆️ 0%
Top small cap risers by Coinrank
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- Sins Finance ($SIN) ⬆️ 117%
- apM Coin ($APM) ⬆️ 85%
- Agora Defi ($AGORA) ⬆️ 76%
- BitCapitalVendor ($BCV) ⬆️ 71%
Top News This Week
Tezos Deployed the Tenderbake Upgrade
Tezos is a Proof-of-Stake (PoS) blockchain network that managed to activate a major upgrade, where it essentially changed the consensus algorithm found within the protocol.
In fact, according to the official press release, this upgrade is named Ithaca 2 and replaced the previous consensus algorithm, which was known as Emmy. This enabled lower block times and faster transactions alongside smoother-running applications.
This Ithaca 2 upgrade also reduces the requirement to become a network validator by 25%, from 8,000 tez to 6,000 tez, which added to the network's decentralization.
Reddit Integrated Ethereum NFTs and Ethereum Miners Reached $1.29 Billion in Revenue Throughout March.
Reddit is one of the biggest social networks on a global scale and has incorporated Ethereum-based Non-Fungible Tokens (NFTs) throughout the platform. Four NFTs were sold for $400,000 per NT to use as an avatar within the Reddit platform, and while, for the time being, you cannot use your own NFT, this could come as a functionality in the future.
Additionally, Ethereum miners bought a total of $1.29 billion in March in terms of revenue, and this is a month-over-month increase of 7.2%.
There was a declining trajectory from November of 2021, but in March, Ethereum miners generated 1.08 times more in revenue than Bitcoin miners. Alongside all of this, Ethereum fees have dropped 90% since November of 2021, and ETH showcased stronger correlations with S&P 500.
Dogecoin Leaped in Value After Elon Musk Took $3 Billion Twitter Stake
The meme-coin known as Dogecoin (DOGE) managed to climb in value as the Tesla entrepreneur known as Elon Musk became Twitter’s largest shareholder.
Musk also owns SpaceX and bought a $2.9 billion stake in the social media network, which he has used in the past to share his interest surrounding the DOGE cryptocurrency token across his more than 80 million followers.
Dogecoin’s Founder also said that there is no reason that Twitter should not add Dogecoin to their "Tipping Jar."
Starbucks to Enter Metaverse Business and Meta Plans Virtual Currency for Its Apps
On April 4, 2022, the CEO of Starbucks, known as Howard Schultz, announced in an Open Forum that the company is planning on entering the NFT business prior to the end of 2022, and this news was even confirmed by the company directly. This could bring a new, even more, crypto-friendly Starbucks.
Additionally, Meta Platforms Inc. made an announcement that it is readying its plans towards introducing virtual tokens and cryptocurrencies to their applications with the aim of using the virtual tokens for rewarding creators, lending as well as other financial services.
Lightning Labs Raised $70 Million, Robinhood Released Crypto Wallet to 2 Million Users, and Many Companies and Apps Are Starting to Accept Bitcoin
Bitcoin developer Lightning Labs managed to raise $70 million from early investors as a means of helping turn the first major blockchain into a network that has the capability of transacting trillions of dollars in volume on an annual basis.
Elizabeth Stark, CEO and co-founder of Lightning Labs, said that "The potential here is for all the world's currencies to route through Bitcoin over the Lightning Network."
Robinhood released a cryptocurrency wallet to 2 million users, which they are planning towards integrating with the Bitcoin Lightning Network. This is an announcement that was made at the Bitcoin 2022 conference in Miami by Chief Product Officer Aparna Chennapragada.
The CEO of Strike, Jack Mallers, revealed that the company is working towards integrating Bitcoin into some of the largest payment processors, such as NCR, Blackhawk, and Shopify, which means that places such as Walmart, McDonald's, and Starbucks can accept Bitcoin (BTC).
Cash App also introduced Paid in Bitcoin, BTC Roundup as well as Lightning Network services. Specifically, the Cash App will feature a “paid in Bitcoin” service that lets users auto-invest their work pay into Bitcoin (BTC).
Fresh Content From the Team
Thanks for reading,
The Stack Team
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