💬Crypto Update 💬

Here's the latest scoop from the Cryptogram on April 5, 2024:

1. Ethena Labs Integrates Bitcoin (BTC) as Collateral: Ethena Labs, the creator of the delta-neutral USDe stablecoin, has announced the inclusion of Bitcoin (BTC) as a collateral asset. This move is anticipated to propel the project forward, aiming to skyrocket USDe's capitalization to an impressive $10 billion.

2. Toncoin (TON) Climbs into Top 10 Rankings: Toncoin (TON) has surged into the top 10 capitalization rankings. Despite the recent market correction, TON saw a remarkable 7% increase in its exchange rate this week, while Avalanche (AVAX) experienced a decline of 14.2%.

3. Solana Struggles with Protocol Overload: Solana faced a significant protocol overload yesterday, with over 76% of transactions failing to be included in blocks—a record high. Helius CEO attributed 95% of these transactions to arbitrage bots.

4. FTX Liquidators Sell SOL at Discount: FTX liquidators executed a sale of up to 30 million SOL at $64, amounting to approximately $1.9 billion. However, these assets will be locked in for four years. With the current rate soaring above $170, their market value today stands at around $5 billion.

5. Record Influx of New Traders into Meme Tokens: The number of addresses holding meme tokens for less than 30 days has surged to a record high of 1 million, indicating a substantial influx of new traders.Fresh blood comes🌚🌚🌚

The token yields since the beginning of 2024 have reached an astonishing 1,312.6%.

Stay tuned for more updates as the crypto market continues to evolve! 🕯

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