Get your daily, bite-sized digest of blockchain and crypto news today – investigating the stories flying under the radar of today’s news.In crypto news today:__________
Total cryptocurrency market capitalization is up 2.6% today. It currently stands at $2.332 trillion, according to CoinGecko.Similarly to yesterday, not many coins in the top 100 group have seen their prices drop, nor are these large drops.The highest fall is Kaspa (KAS)’s 3.1%, now trading at $0.1044.Tokenize Xchange (TKX) is next with 2.4% to $11.4. Only five other coins are down in the past 24 hours, around 1% and less.On the other hand, the best performer in this category is Arweave (AR), with an increase of 19.3% to $34.98. BONK and Toncoin (TON) have also seen double-digit increases of 14.4% and 11.9%, respectively.When it comes to the top 10 coins by market cap, all are green.Source: coingecko.comThe best performer here is TON, now trading at $5.37.Dogecoin (DOGE) is in the distant second place, with a 3.8% rise to $0.1329, immediately followed by Solana (SOL)’s 3.7% to $137.93.At the same time, Bitcoin (BTC) appreciated 2.5%, changing hands at $59,285, while Ethereum (ETH)’s price went up 1.3% to $2,977.Meanwhile, Jack Dorsey-led Block announced plans to allocate 10% of profits from its Bitcoin products to buying more BTC each month, its quarterly report showed.And on the US regulatory front, US Senators Elizabeth Warren and Angus King Jr. claimed that Iranian crypto miners have terrorist ties, including Hamas. Waging a political battle against Iran, the two also claimed that the nation launders funds using crypto.
In crypto news today, BNB Chain has launched its Q1 ecosystem report, stating that in the first quarter of this year, BNB Smart Chain (BSC) averaged 1.4 million Daily Active Users (DAU).This, they said, makes it the largest Layer 1 (L1) blockchain by daily active users. Furthermore, it sits in the second-highest position across the blockchain industry.opBNB is in the first position among blockchains by DAU. Its total distinct addresses crossed 20 million in Q1 2024.In the same period, the total number of unique addresses on BSC increased by 5.3% to 435 million. BSC recorded an average daily transaction count of 4.1 million, the second-highest among blockchains.Meanwhile, the decentralized storage platform BNB GreenField witnessed its network storage data size surpassing 415 GB. “The peak daily stored data size hit a new high at 33.84 GB on February 22, 2024,” the report said.Additionally, BNB GreenField saw the implementation of three major forks meant to improve user experience and backend operations: Hulunbeier, Ural, and Pawnee.2/ BSC boasted an average of 1.4 million Daily Active Users (DAU), securing its position as the largest Layer 1 blockchain by DAU and the second-highest across the entire blockchain industry, second only to opBNB.— BNB Chain (@BNBCHAIN) May 2, 2024When it comes to security, there was a decrease of 55.8% in incident-related value loss compared to the same period last year.In Q1 2024, BNB Chain suffered a loss of $14,446,914 across 43 incidents. This is an average loss of $335,974 per incident and a median loss of $151,476.In Q1 2023, it experienced a loss of $32,661,970 across 140 incidents.Also, there was a slight difference when comparing Q1 2024 to the previous quarter, Q4 2023. The latter saw $14,544,665 lost across 44 incidents.The “substantial reduction in loss” in Q1 2024 compared to Q1 2023 “signals the successful implementation of enhanced security measures,” the report said.
Bitcoin’s hashprice has reached all-time lows over the past week, falling under $50/PH/s and dropping to $45/PH/s.That is a 75% decrease from the brief post-halving peak of $180/PH/s, according to the latest Miner Weekly report by BlocksBridge Consulting.Individual miners can’t control the hashprice, i.e. the dollar value of daily mining revenue per PH/s, said the report, but they can control hashcost, be it the fleet, or corporate and financial hashcosts.The report gave an example. At a power cost of $0.07/kWh, a miner will see a daily fleet hashcost of $49.56 for running each PH/s of S19 Pros on average. “This cost is already higher than bitcoin’s current hashprice, implying a negative gross margin. And this calculation does not even include other applicable corporate or financial hashcosts,” it said.Furthermore, while hashprice of $45/PH/s is lower than the Q4 fleet hashcosts of several Bitcoin mining companies, most of them have a total hashcost above $50/PH/s. Additionally, major public mining companies have “large amounts of cash and digital assets” stockpiled on their balance sheets.Meanwhile, declining hashrate would shake out “inefficient mining operations,” “easing the network difficulty for those who are standing through,” the report concluded.
In other crypto news today, crypto exchange Bitrue announced the listing of a new Bitcoin Runes token, GPTV•AI•PEPE•KING (GPTV). This follows the recent addition of several Bitcoin Runes tokens to the platform, including SATOSHI•NAKAMOTO (SATOSHI), LOBO•THE•WOLF•PUP (LOBO), RSIC•GENESIS•RUNE (RSIC), and DOG•GO•TO•THE•MOON (DOG). Per the press release, the decision to add these tokens came from a community poll.Learn more about Runecoin (RSIC•GENESIS•RUNE) $RSIC with #Bitrue ! @rune_coin Runecoin is one of the new #Rune tokens launched after the $BTC #Halving. It runs directly on the Bitcoin blockchain meaning it benefits from the security and decentralization inherent to BTC. It…— Bitrue (@BitrueOfficial) May 3, 2024GPTV is the native token of AI PEPE KING, a project working on the Polygon (AIPEPE) and Bitcoin Runes (GPTV) blockchains. It secured a $10 million investment to develop AI-powered customer service tools leveraging the ChatGPT technology. Also, it’s building a “Dream Lottery” system. The team behind AI PEPE KING will use the revenue from these products for buybacks and burns of AIPEPE and GPTV tokens.Also, users holding BTR, AIPEPE, RSIC, or DOG tokens can earn rewards in GPTV on Bitrue by staking their holdings.On April 30, Bitrue announced that it added support for Runes and became “one of the first exchanges in the world to complete the technical integration and listing process for these new, hotly anticipated assets.”
__________For the latest crypto news updates, bookmark this page and subscribe to our newsletter!
