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Daily Top Performer — Slerf (SLERF)
The SPX index is down 0.58%, this market activity occurred amid a backdrop of cautious investor sentiment influenced by recent earnings reports and statements from Federal Reserve officials, including Chair Powell's indication that the Fed is not planning to cut rates soon despite persistent high inflation. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 2.80% and 3.11%, respectively in the past 24 hours.
Today’s outperformer is SLERF, which jumped 4.2% after announcing NFT Launch Partnership Offering 300 Whitelist Spots.
Slerf (SLERF), one of the top-performing meme coins in March 2024, is a Solana meme coin, symbolized by a drooling sloth, designed to enhance liquidity and add fun to the Solana ecosystem. It quickly entered the top five in its category despite a controversy where $10 million in tokens were accidentally burned before their presale. SLERF announced a partnership for launching their upcoming $SLERF NFTs, providing 300 whitelist spots through a partner's NFT Marketplace. Participants can join the promotion by visiting a specified website and are encouraged to like, retweet, and drop their wallet addresses on X for a giveaway associated with the announcement.
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Talk of the Town:
The Worldcoin Foundation, linked to the eye-scanning Worldcoin initiative, is set to introduce World Chain, a new blockchain developed with technology from layer-2 provider Optimism. Positioned on the Ethereum network, World Chain will utilize ETH as its base currency, allowing Worldcoin (WLD) to cover transaction fees. Designed to cater specifically to Worldcoin's users—who constitute a substantial portion of traffic on the Optimism network—World Chain focuses on creating a private, dedicated platform where verified human users are prioritized over bots in accessing blockchain space and receive allowances for routine transactions. Despite facing privacy concerns and investigations in several countries, the foundation asserts that its technology is exceptionally secure and privacy-oriented.
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Spot Bitcoin ETF Flows:
ETF Type |
BTC ETF Flow (in millions) |
GBTC |
(133.1) |
Non-GBTC |
(39.1) |
Total |
(165.0) |
Bitcoin's price fell below the crucial $60,000 support level on April 17, influenced by stagnation in spot Bitcoin ETF inflows and expectations of the upcoming Bitcoin halving on April 20. The drop to $59,648 was also driven by geopolitical tensions, a strengthening U.S. Dollar Index, and weak technical indicators. Significant outflows from U.S. spot Bitcoin ETFs added to the downward pressure. Despite these market dynamics, an ETF analyst noted that zero inflows are typical and not alarming. The U.S. Dollar's rise, influenced by expectations of sustained higher interest rates, compounded Bitcoin's challenges.Â
Airdrop to Watch:
Scroll, an Ethereum Layer 2 network utilizing zero-knowledge technology, has launched a loyalty program called Scroll Sessions to encourage more asset bridging to the network. Starting with Session Zero, users can earn Scroll Marks by bridging assets like ETH and wstETH using Scroll’s bridge or STONE, a LayerZero omnichain fungible token. Marks will also be awarded retroactively for assets bridged since October 10, 2023. Scroll aims to enhance scaling for Layer 1 networks while maintaining privacy, and as of the latest data from DefiLlama, it has a total value locked (TVL) of $57 million, showing a steady increase since its launch in October 2023.
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Disclaimer
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