Episode Details

09th April: Crypto & Coffee at 8 

👀Solana Network congestion 🔻PayPal stablecoin down by 38%🔻 MicroStrategy and Coinbase stock 🚀 Base 1 in 6 memes are scams 👀

👀 The Solana network is experiencing significant congestion problems, resulting in a staggering 70% failure rate for transactions

🔴 Solana, known for speed and low fees, faces congestion, with 70% of transactions failing. Anza developers are addressing issues linked to internet protocols. Memecoin speculation and bot trading contribute to increased traffic. Anatoly Yakovenko notes the technical challenges in fixing the network. Scalability remains a concern. This highlights the need for robust network design and continuous development in blockchain.

Last week Solana (SOL) and its associated tokens, including Wormhole (W) and Dogwifhat (WIF), have experienced significant losses in the past 24 hours. SOL is down 7%, while W and WIF have dropped by 17% and 12% respectively. Congestion issues on the Solana network have contributed to these declines.

❓How will Centralized Blockchain Solana fix the issue?

🔴 In March, the circulation of PayPal’s stablecoin, PYUSD, dropped by 39% compared to February, totaling $188.5 million. The stablecoin’s circulation peaked in February and January at $304 million and $301 million, respectively. As of March 29, the PayPal USD treasury included $14.9 million in United States Treasury bonds. Despite the drop, PYUSD remains backed by U.S. dollar deposits and Treasurys. Market capitalization for PYUSD has declined since late February but recently saw a 3% increase, reaching $194 million. Launched in August 2023 in collaboration with Paxos Trust, PYUSD has gained prominence as the 13th largest stablecoin by market capitalization.

🚀 Bitcoin’s surge near $72,000 has boosted the stock prices of companies tied to the cryptocurrency. MicroStrategy’s stock rose over 6% to $1,531.67, driven by its aggressive Bitcoin acquisitions totaling $15 billion. Coinbase, America’s largest crypto exchange, also saw a 6% increase, reaching $255.99 per share. Tesla, holding over 9,000 BTC, saw a 5% rise in its stock price. Bitcoin mining companies like Hut 8 Crop and CleanSpark experienced marginal increases as well. Via Decrypt here https://lnkd.in/dJbJrSdP

❗ Base, a Layer 2 blockchain, was launched by Coinbase to improve Ethereum’s scalability and speed. However 1 in 6 new Base meme coins are scams, 91% have vulnerabilities The tokens were analyzed by automated auditors on the trading analytics platform DEXTools to determine whether each project has implemented three fundamental security measures: locked liquidity, verified contracts and absence of honeypots. More info via Cointelegraph here https://lnkd.in/dRZDrQQc Check out our commentary on this

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⚡ Metaverse: The Hype, Reality & New World Order by Blockchain DXB 15th April

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