Blockchain & cryptocurrency market summary news – May 27
Donald Trump continues to attract voters with statements supporting crypto
Mr. Donald Trump, the Republican Party's US presidential candidate, has made strong statements in support of the cryptocurrency industry on the social network Truth. He affirmed that if elected, there will be changes to help the US maintain its leading position in this field, contrary to President Joe Biden's policy. Previously, Mr. Trump had criticized Bitcoin but recently had a different view on this emerging technology. He also pledged to accept donations in cryptocurrency and do everything to keep companies in the industry in the US. Statistics show that Mr. Trump is the celebrity who owns the most cryptocurrency with a wallet containing 6.4 million USD.
Friend.tech (FRIEND) drops more than 25% after proposal to leave Base
Co-founder of web3 social network Friend.tech (FRIEND) publicly announced his intention to leave layer-2 Base developed by Coinbase, causing the FRIEND token price to drop more than 25%. Racer revealed that the relationship between Friend.tech and Base is crumbling after Farcaster investors defamed Friend.tech, causing the project to be boycotted from the Base ecosystem. Coinbase expressed regret that the Friend.tech team was “isolated and disconnected” but would still respect their decision. Previously, Friend.tech was considered an outstanding project in the SocialFi segment.
Ethereum's Pectra upgrade is expected to deploy in Q1 2025
Ethereum's next important upgrade, Pectra, is expected to be deployed Q1/2025. Developers choose this time so that all parties have time to test and review errors, avoiding problems when deploying near the Devcon event. Pectra will add features such as PeerDAS support to improve layer-2 scalability, replace EIP-3074 with EIP-7702 to improve account abstraction, and possibly Verkle Tree support.
LayerZero restarted the "sybil hunting" campaign on May 28
LayerZero has restarted its "sybil hunting" campaign after a temporary hiatus. Users need to deposit 0.5 ETH to participate, to limit spam and ensure valid reports. The deposit will be refunded after TGE, but only with complete and valid reports. If the report shows signs of fraud, the user will not be refunded. LayerZero also shares a complete Sybil report example. The campaign takes place from May 25 to May 28.
