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Bitcoin Layer 2 Tokens Outperform BTC Post-Halving

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Bitcoin layer 2 solution tokens have demonstrated superior performance to BTC following the highly anticipated halving of the mining reward on the blockchain.

Since the event, these tokens have surged by 5% to 20%, outpacing the top crypto by market cap.

Stacks (STX) Takes Center Stage

According to CoinGecko data, the market cap for Bitcoin layer 2 solutions is $4.3 billion, marking a 5.6% increase in the past 24 hours. Meanwhile, the trading volume is $184 million.

Stacks (STX), a Bitcoin layer 2 solution, has been among the top-performing cryptocurrencies in the past 24 hours, according to CoinGecko data. The STX token has surged almost 20% to $2.87 since the halving event.

Bitcoin, on the other hand, has not experienced significant growth. The token is up slightly over 4.5% to $66,046 since the halving event, 1.7% over the last 24 hours, and down 0.8% over the last 7 days.

Bitcoin’s price saw significant volatility last week, dropping from over $66,800 to below $60,000. However, it has since recovered.

Other layer 2 tokens, such as Elastos’ ELA token and SatoshiVM’s SAVM, have also experienced gains of 11% and 5%, respectively, since the halving.

Other altcoins have observed slight daily gains, except for TON, which has experienced a significant double-digit decline despite Tether’s announcement of expanding to the TON blockchain.

Notably, Bitcoin layer 2 solutions address blockchain scalability and transaction speed limitations. These projects operate on the Bitcoin blockchain, offering scalability by processing transactions off the main chain.

Bitcoin Fees Surge

On April 20, when the halving occurred and the Runes protocol launched, Bitcoin transaction fees reached an average of $128.45, according to ycharts data. This figure is over six times higher than the average fee rate the day prior and approximately double the previous record set three years ago.

The fee surge can be attributed to the launch of the Runes protocol, which enables users to “etch” and mint tokens on the Bitcoin blockchain. The introduction of Runes prompted speculators to rush into minting tokens and trading meme coins, leading to increased transaction activity and, subsequently, higher transaction costs.

Notably, the fees have since come down, and the transaction fees dropped to $34.8 on April 21. Meanwhile, according to data from Ord.io, the total number of Runes inscriptions on the Bitcoin blockchain has already reached 3,700.

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Cryptocurrency

BLVD United Signs MOU with MeDoDo Coin: Pioneering a New Era in Fan Engagement and Biotech Innovation

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[PRESS RELEASE – Los Angeles CA, United States, May 23rd, 2024]

In an unprecedented fusion of innovative science and advanced technology, a leading biotech company has unveiled an ambitious project to bring back the extinct Dodo Bird. Embracing the spirit of this fearless and curious bird, the company is also introducing the MeDoDo Coin.

Historically, the Dodo Bird was known for its fearless and inquisitive nature, often following humans out of sheer fascination. Inspired by this behavior, the MeDoDo Coin symbolizes the unwavering love and support fans offer their favorite artists, mirroring the Dodo Bird’s curious devotion. The MeDoDo Coin operates on the BEP-20 standard. This unique cryptocurrency aims to create a vibrant ecosystem where fans can connect with and support their beloved artists in ground-breaking ways.

In an exciting development, MeDoDo is finalizing talks with “The Plu9,” the world’s most anticipated and largest hip-hop metaverse. Designed by the visionary behind the phenomenally successful “Grand Theft Auto 5” (GTA 5), which grossed over $10 billion for Sony PlayStation, “The Plu9” will serve as the launch platform for this new digital ecosystem.

BLVD United, exclusively distributed by Universal Music Group, led by Managing Partner Damuer H. Leffridge, is spearheading the project. Leffridge has a storied history of collaborating with superstars like Chris Brown, Wiz Khalifa, YG, and Eric Bellinger. Notably, BLVD United was instrumental in the triumphant return of Billboard and Nickelodeon Kids’ Choice Award-winning multi-platinum group B2K, which achieved significant acclaim, including a nomination for Billboard Tour of the Year 2020.

Additionally, Leffridge piloted the affiliate sales and marketing efforts of the Zondervan published Audie Award-winning audio Bible, “The Bible Experience.” The project features a constellation of stars, including three Oscar winners, five Golden Globe winners, seven Emmy winners, and twenty-three Grammy winners. Led by Academy Award-winning actors Forest Whitaker, Cuba Gooding Jr., and Denzel Washington, along with Angela Bassett, Blair Underwood, and Samuel L. Jackson, establishing Leffridge’s expertise and significant presence in the industry.

Get ready to connect with music superstars, top producers, Hollywood icons, and your favorite industry legends from around the world in a groundbreaking way. The MeDoDo Coin and its exciting projects are poised to transform fan interaction and support, taking engagement to unprecedented levels.

About BLVD United

Driven by innovative projects across various media platforms BLVD United stands at the vanguard of the entertainment industry and a cutting-edge entertainment powerhouse with deepened industry experience complimented with a proven track record of success. BLVD United features an award-winning creative team of comprising industry veterans and celebrated artists.

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Multipool Enters Partnership with Mobilum Offering Users Fiat to DeFi On/Off Ramp

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[PRESS RELEASE – Majuro, Marshall Islands, May 23rd, 2024]

Multipool, a leading innovator in the blockchain and cryptocurrency industry announces a corporate partnership with Mobilum. The partnership between Multipool and Mobilum will enable users to onboard onto cryptocurrencies without involving a centralized exchange.

“Centralized exchanges are on their way out, we’re thrilled to give users another option, without intrusive roadblocks to their DeFi lifestyle. This partnership offers a long list of benefits for both parties, with a truly DeFi onboard as the highlight. Getting MULLED is now much more accessible to the mass market” Steven Murray, a Core Contributor at Multipool.

“Mobilum is excited to connect with Multipool enabling their users with an efficient onboard ramp directly into DeFi without going via a centralized exchange. This partnership makes perfect sense and gives Mobilum direct access to Multipool’s extensive volume, deep liquidity, and retail users worldwide.” Wojciech Kaszycki, CEO – Mobilum Tech UAB

Never Have CEX Again

The world of crypto is heavily focused on DeFi (decentralized finance), but the only access point for the majority of people is via a centralized exchange. Multipool & Mobilum aim to change that, by offering users a simple and easy way into the world of crypto. With Mobilum, people can come to Multipool, directly into the DeFi world without having to touch a centralized exchange.

To learn more about Multipool and its features, users can visit:

Websitewww.multipool.finance

Telegramt.me/multipoolfi

Xwww.x.com/multipoolfi

Users can learn more about Multipool’s LBP live on Fjord Foundry now – Fjord Foundry $MUL LBP

About Multipool

Multipool is a cutting-edge decentralized exchange (DEX) transforming the trading landscape for real-world assets (RWAs) and cryptocurrencies. Multipool is designed for fairness and equality, featuring a fully decentralized on-chain order book, deep liquidity through dynamic bracket pools, and seamless trading of RWAs and cryptocurrencies. Utilizing world-class innovations including industry-first FIX APIs, low latency networks, zero price impact auctions, trustless RFQs, peer-to-peer repo lending, and MEV bot protection, Multipool sets a new standard in DeFi trading. Experience unparalleled efficiency and security in your trading journey with Multipool – The DEX with CEX appeal.

www.multipool.finance

About Mobilum Technologies Inc.

Mobilum is a financial technology company providing various payments and banking solutions to bridge the gap between traditional finance and Web 3 economy. Building all-in-one infrastructure to meet global payment needs in both Web 2 and Web 3. Mobilum develops innovative products for retail and institutional clients enabling them to transfer, manage and spend fiat currencies and as digital assets alike in a safe, convenient and compliant manner. Poland, Lithuania, Canada and the United States. For further information, users can visit www.mobilum.com.

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These USDT and USDC Factors Suggest Upcoming Bitcoin Rally: Data

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The latest market recovery has sparked concerns about a potential retracement. But a new analysis offers a reassuring perspective for those who are apprehensive.

According to Santiment, the growing number of non-empty stablecoin wallets indicates increased investor interest and engagement in stable assets.

Growing Confidence in Stablecoins During Market Recovery

Specifically, in 2024, the number of non-empty USDC wallets increased by 13.9%, while USDT wallets saw an even higher growth of 15.7%. This trend suggests that more investors are opting to hold stablecoins, which could stabilize the market and mitigate the impact of future retraces.

Santiment’s data further revealed a significant adoption and growth of stablecoin wallets. Among the stablecoins tracked, Tether (USDT) has the highest number of non-empty wallets, standing at a whopping 5.7 million. This figure highlights the widespread use and popularity of the leading stablecoin within the cryptocurrency ecosystem.

Next up is Circle’s USDC, with 2.15 million non-empty wallets, indicating a strong demand. Although lower than Tether, the USDC wallet count is still noteworthy, reflecting its growing acceptance and adoption despite last year’s setback.

The decentralized stablecoin, DAI, issued by MakerDAO, also attracted a notable presence with 503,180 non-empty wallets, indicating the increased interest in decentralized finance (DeFi) and the use of DAI as a stable asset within these protocols and applications.

Lastly, BUSD, the stablecoin issued by the popular cryptocurrency exchange Binance, has 128,210 non-empty wallets. While lower than the others, this figure still represents a significant user base for BUSD, even after Binance ceased support of the token.

Stablecoin Market Growth 2024

The stablecoin market cap has seen tremendous recovery and growth this year, rising to $161.4 billion, which is indicative of heightened capital inflows into the market. The US spot Bitcoin ETFs sector significantly contributed to this growth as institutional investors and major traditional finance entities boosted their stablecoin holdings to capitalize on the ETF market.

According to Chainalysis’ recent findings, in January 2024 alone, the US recorded stablecoin purchases of over $30 billion.

Although the US and the EU continue to have a strong presence in the market, emerging economies like Thailand, Brazil, and particularly Turkey stand out for their stablecoin purchases relative to their national GDP.

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