Zest, a Bitcoin lending protocol, has announced the completion of a $3.5 million funding round led by Tim Draper, with participation from Binance Labs.
Meme coins, including GME Coin, continue to rise, influenced by the increase in GameStop US stocks.
Other notable developments include Bitget launching leveraged trades for BB, and a significant increase in XRP’s trading volume.
In this article, we delve into the latest developments in the crypto world, including Zest’s funding round, the rise of meme coins, and XRP’s trading volume surge.
Zest Completes $3.5 Million Funding Round Led by Tim Draper
Zest, a Bitcoin lending protocol, has announced the completion of a $3.5 million funding round. The round was led by Tim Draper and saw participation from Binance Labs, Flow Traders, and Trust Machines. Zest Protocol is utilizing Bitcoin’s 2nd layer stack Nakamoto upgrade and sBTC (pegged 1:1 with Bitcoin) bridge asset to create a unique lending experience on the world’s largest Blockchain network.
Bitget Launches Leveraged Trades for BB
Crypto exchange Bitget is set to launch BB/USDT contract trading pair with a maximum leverage of 50x. The exchange will also initiate spot leverage, strategy, and copy trading for BB on May 14.
Rise of Meme Coins like GME Coin
Current market data shows that meme coins, including GME Coin, continue to rise, influenced by the increase in GameStop US stocks. GME Coin on Ethereum is currently trading at $0.0(5)8920, showing a 55.06% increase within 15 minutes. GME Coin on Solana is trading at $0.006335, showing a 22.06% increase within the same period. However, it’s important to note that these meme coins do not have real use cases and their prices fluctuate significantly.
Trump-Themed Memecoin MAGA Surges 60% in a Week
Despite the gloomy atmosphere dominating the global crypto world, some tokens have seen notable increases. Specifically, Trump-themed memecoin MAGA (TRUMP) has surged an astonishing 60% over the past week. This surge coincides with Republican presidential candidate Donald Trump’s comments on digital currencies.
XRP’s Trading Volume Surges by 194%
As the showdown between Ripple and the SEC intensifies, XRP’s trading volume has surged nearly 200%. According to CoinGlass data, the trading volume of XRP-based derivatives has exploded, showing a surprising increase of 194% in the last 24 hours.
Conclusion
From Zest’s funding round to the rise of meme coins and XRP’s trading volume surge, the crypto world continues to see significant developments. As the market evolves, investors are urged to stay informed and exercise caution, particularly when dealing with highly volatile meme coins.