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Cryptocurrency Adoption
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Ethereum ETF will have no fee when it begins trading says VanEck joins/Franklin Templeton.
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Have a terrific Thursday Beyond Bitcoin 💰 The bitcoin mining firm Marathon Digital is now expanding its mining efforts to the Layer-1 blockchain Kaspa to diversify its mining revenue. The firm announced its involvement in mining Kaspa earlier today, stating that it first started mining the cryptocurrency in September 2023. According to the announcement, Marathon has purchased 60 petahashes worth of hardware, capable of generating profit margins of up to 95%, where half of the machines are currently operational. Once all of their machines are up and running, the firm predicts that their mining operations will represent 16% of Kaspa’s overall hash rate. Over the past 10 months, Marathon has mined approximately 93M KAS, which is valued at around $15M. Since the announcement, the price of KAS has risen by 4.6% from $0.168 to $0.176 today. #BTC☀ #btcmining #MarathonDigitalHoldings #Squar2earn #squarecreator
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It's for a good cause...right? 💸 Did you think you could just claim your airdrop for free? Think again! Off the back of the highly anticipated LayerZero airdrop, the team has introduced a new and controversial claiming mechanism called ‘Proof-of-Donation’ for users who want to claim their ZRO tokens. Simply put, claimers would have to donate the equivalent of $0.10 in USDT, USDC, or ETH to the Protocol Guild for the ZRO token they received. The LayerZero Foundation would then match all donations up to $10M to support the Protocol Guild’s goals of community building and protecting protocols. However, a mandatory donation for a supposedly free airdrop has drawn the ire of many from the crypto community, with popular Yearn contributor Banteg calling it a ‘glorified ICO,’ Nevertheless, LayerZero CEO Bryan Pellegrino defended their airdrop method, stating that users can simply choose not to donate and not claim their airdrop since it is a token that is offered and not owned by recipients. Another unintended consequence of LayerZero’s airdrop method was its effect on the Polymarket predictions platform, where $680,000 hung in the balance. On the wager that LayerZero would airdrop its tokens by June 30th, users butted heads as to whether the incorporation of donations counted as an airdrop, especially considering LayerZero technically never mentioned it as an airdrop in any of their communications. In any case, the final outcome of the prediction market has resolved to ‘Yes’ after a rules update was added to the Polymarket’s bulletin board. The donation drama ultimately resulted in the price of ZRO plunging by 25.9% from its initial launch price of $4.41 to $3.23 today. #AirdropGuide
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