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- 1 A lot of remarkable events happened last week in Twitter’s crypto space.
- 2 From meme coins to Curve, many digital asset entities made waves due to something.
- 3 Crypto investors can interpret these events and filter information from raw data.
Must-Read Threads of zkSync
zkSync has become the most sought-after project in 2023. Since its mainnet launch in March, it has been gaining traction in the crypto markets. The major reason behind this is its Ethereum layer-two, zero-knowledge, rollup scaling solution. It has emerged as a scaling solution that enhances the potential of decentralized applications.
While exploring the Ethereum L2 ecosystem, ZK optimizes transactions too. It verifies the proof of payment and secures the network. Irrespective of the volume, it amplifies the security with a cryptographic mechanism. Besides that, it lowers the gas fee and expedites the whole process.
The Drama Around Curve
Curve Finance became a victim of hacking and lost tokens worth multi-millions. It became a signature entity in the burgeoning DeFi space soon after its launch. The founder of the company Michael Egorov had to sell some of his own stake too. However, to his relief, the company retrieved 70% of its stolen tokens. Right now, it seems to be getting back on its feet quickly. Despite that, Curve Finance remains one of the most talked-about crypto enterprises recently.
Elon Junked the News of X Token
Around the same time when Musk announced the rechristening of Twitter, the rumpus of its token surfaced. But he put an end to speculations saying that there won’t be any X token. The assumptions of the tokens were probably a result of Musk endorsing Dogecoin’s dog in his recent posts. It got many people thinking that he’d probably launch his own coin. His snubbing of these claims has disappointed a lot of crypto users.
Pulsechain- a Controversial Project
Pulsechain is a layer-1 blockchain network that focuses on improving Ethereum. Richard Heart, an internet marketer launched this project with an ICO. Notably, he’s also a promoter of the HEX project. The preliminary funding round raised billions of dollars. In addition to that, it claims to make environment-friendly structure. So what exactly makes it disputable? Well, there are a couple of things tarnishing its reputation.
Pulsechain includes a sacrificial round in which participants donate their crypto. Although it got a good response from the community, some people criticized it. According to critics, it’s a cunning way to avoid legal commitments. Some even say that Richard Heart and his close associates are exploiting these tokens. Another one is its faulty network. It’s still running the beta version and is facing various issues.
Its sister project HEX has been labeled as a Ponzi scheme by many users. And lastly, Richard Heart’s involvement in the 2002 spam makes any of his projects dubious in nature.
Everything in the Meme Coin Space
In the meme coin space, something or the other keeps happening. Last week, the market witnessed a rise in the prices of some meme coins. The new Shibie token has become the talk of the town with its recent presale. It raised $170K in a week and became a sensation. Another token that performed exceptionally in its presale is Cowabunga. Inspired by Teenage Mutant Ninja Turtles, it hit the $25K threshold. The HarryPotterObamaSonic10Inu gained 50% last week. Pond Coin surged over 167% too.
News helps traders strategize their moves. When they know what’s happening in the market, they know how to react. So hopefully, this piece will help many market participants.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
