Happy Wednesday, busy bees! Web3 Buzz is here again with your daily dose of blockchain highlights. On today's menu:
Bitcoinβs New secret weapon βοΈ
Bitcoin Whales on Shopping Spree ποΈ
Web3 Job Opportunities π§βπ»
Coinbase in hot water π
Plus, a warm welcome to the 1,800 new subscribers who have joined our hive yesterday.
BITCOIN'S NEW SECRET WEAPON: BRC-20 TOKENS βοΈ
BRC-20 vs ERC-20? Sounds like the battle of the century, huh? But hold your horses, folks. These two token standards aren't the same. In fact, BRC-20 tokens can't even chitchat with smart contracts. Bummer, I know!
The Bitcoin world's buzzing like a hive of bees with these BRC-20 tokens. They're sitting pretty on the Bitcoin base blockchain, and their value's gone through the roof! You won't believe it, but we're talking a 682% increase in a week. Kaboom!
Domo, our mysterious on-chain analyst, whipped up the BRC-20 token standard back in March.
With the Ordinals Protocol on the scene, it's now like a digital art party on the Bitcoin blockchain. Bring your own brush!
These BRC-20 tokens are like the cool new kid in town, making up almost 6% of all Bitcoin activity. But don't get them mixed up with Ethereum's ERC-20 tokens, okay? BRC-20s are more like a clever script file on Bitcoin, while ERC-20s are all about that smart contract life.
And guess what? Most BRC-20 tokens are meme coins. Yup, we're talking about the fun, quirky cousins of the crypto family. ORDI, OG, and PEPE are the top dogs in this BRC-20 playground.
Mark Jeffrey from Boolean Fund says BRC-20 tokens are shaking things up. They're cutting out the middleman - no Binance, no Coinbase needed. Just your trusty Bitcoin wallet! It's like Bitcoin's now the cool gas for your crypto engine. Vroom!
Got any thoughts on BRC-20 tokens? Don't be shy - let's chat about it!
WHALES ON A SHOPPING SPREE: 64K BITCOIN BOUGHT! ποΈ
Crypto fans, let's chat about two things we adore:
Grabbing half-off Cheesy Gorditas from Taco Bell
Watching folks buy a mountain of Bitcoin
Big news: Bitcoin whales just purchased a whopping 64K BTC (a cool $1.8 billion) in less than 3 weeks! These are the heavy-hitters with wallets holding between 100 and 10K BTC or $2.8 million to $278 million.
Imagine the Bitcoin whales hoarding coins like folks hoarded toilet paper during the pandemic.
Why does this matter? It's awesome because it means the largest Bitcoin holders are feeling confident.
Only the most resilient can dive in at this price after a tiresome 10-month stretchβ¦
Looks like the BTC whales have switched back to HODL mode.
Get ready, because May is shaping up to be a fantastic ride!
Mayβs gonna be a good one, I can feel it.
THE BUZZ REPORT: TOP STORIES π°
Huobi embraces BRC-20 trading - remember the PEPE token before Ethereum's?
Coinbase goes global with BTC and ETH perpetual futures.
Thiel-backed Bullish Exchange teams up with B2C2 for trading - a bullish move indeed.
ETH withdrawals stall as memecoins heat up burn rates.
Biden schedules debt ceiling huddle for May 9 - top brass to attend.
Gemini Foundation takes off - Non-US derivatives platform set to expand.
Coinbase in hot water over biometric data storage - class action lawsuit filed.
TUSD stablecoin soars to $1.20 on Binance - borrowing pressure on the rise.
Buzz-worthy Meme π
That's it, folks! Slide into our Twitter DMs for some juicy Web3 gossip. We're like a game night with pals - but with more memes, less drama, and zero burnt pizzaΒ @Web3summary.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.