Solana flips Ethereum as SOL memecoin frenzy attracts $100M, Bitcoin price correction

Good morning you're listening to the Riseing crypto podcast by coin Telegraph With me Gareth jenkinson I'm standing in For our regular host Robert bags this Monday and of course I'll be steering You through the crypto Cosmos with our Latest daily update from the digital Frontier if you want to stay ahead of The crypto curve make sure you click That follow button grab yourself a Coffee and let's get into it today's Episode has some interesting twists and Turns network activity on salana Ethereum over the weekend as mem coins Frenzy hits the network blockchain data Shows that $100 million worth of Soul Was sent to various new mem coin Projects that have popped up bitcoin's Price bounces back after a bull market Correction of 12% coinbase's ethereum Layer 2 Network base sees a massive Transaction Spike following the Denon Hard fork and Starbucks is pulling the Plug on its nft Rewards program let's Dive into today's Episode activity on the salana Blockchain exploded this weekend as Users scrambled to get their hands on a Number of new salana based meme coins According to blockchain data sana's Total daily trading volume far exceeded That of ethereum salon's Network hit $3.5 billion in daily trading volume on March 15 more than double the 1.1

Billion of volume on ethereum the same Day the price of salana rallied Alongside the huge uptick in network Activity with soul currently trading at $200 up 7.6% over the last last week and 38.4% in the last month according to Data from coin gecko let's dig into the Meat of the salana based meme coins Which have resulted in the surging Activity on the blockchain as my Australian colleague Tom Mitchell Hill Reported overnight DJ have been going All in on a number of salana meme tokens Over the weekend crypto Traders sent Around $100 million worth of soul in Order to buy into the new ecosystem meme Coins a new mem coin called book of meme AKA a bom has been credited with Pioneering a new crowdfunding mechanism Called a pre-sale which involves crypto Investors sending tokens to a wallet Address before receiving awaited Distribution of tokens in return When The token goes live it is a dangerous Game to play there's no guarantee that An investor will receive tokens after Sending their Holdings to the pre-sale Wallet address ethereum educator Anthony Sano lashed out at the pre-sale model in An xost warning DJ that are sending Crypto to random wallet addresses in the Expectation of receiving a token that Things are likely to end badly that Being said some DG have struck

Proverbial gold according to a post from Blockchain analytics platform look on Chain an early bom investor turned a 420 Soul deposit worth around $72,000 into $32 million in just 3 days My 2 cents worth on this one I have to Agree with Sano and his warning what is Effectively gambling could pay off for One or two investors but but this is Highly risky Behavior all right let's talk some Serious business Bitcoin the preeminent Cryptocurrency bounced back over the Weekend following a 12% bull market Correction from bitcoin's newest All-time high above 73,000 data from coin Telegraph markets Pro and trading view showed new BTC Price lows of $64,500 on bitstamp after hitting new All-time highs last week Bitcoin faced Considerable sell side pressure with a Series of lower lows accompanied by Failed rebounds a couple of analysts Highlighted interest for biders on major Exchanges showing significant support Levels between 60 and $64,000 and as you probably already know Bitcoin kicked back to life today Surging past the $68,000 mark once again let's move on to Some ethereum ecosystem news following The success of the denune hard Fork last Week if you missed it I was in London

Last week for Global where ethereum Co-founder vitalic butterin gave his Thoughts on the denune hard Fork which Introduced a basic dank sharding through EIP 4844 several layer 2 rollups Aggregate And process transactions offchain and Submit a summary proof of these Transactions to the ethereum blockchain EIP 4844 introduces a new way for these Rollups to add cheaper data to blocks by Introducing the blob space as a Replacement for using cor data for Storage i' spoken to to a number of Projects and developers from the Ethereum ecosystem in recent months who All expected to see rollup costs drop by At least 10 orders of magnitude we're Now beginning to see the actual effect As rollups upgrade their systems to Direct to The Blob space a prime example Is daily transactions on coinbase's Ethereum layer 2 Network base which Skyrocketed to a record 2 million Transactions on March 16th just a few Days after the denune upgrade before the Upgrade Bas was processing around 44 40,000 transactions per day the day After that this climbed to 1.1 million And continued to rise in the days Following hitting over 2 million on March 16th Daily new users on base also Spiked to over 660,000 on the same day At a massive

3,200 increase from the average for the Days leading up to denune stocket Another ethereum L2 scaling protocol Also saw an estimated 99% drop in swap Fees following the activation of denu We've got another ethereum ecosystem Story on the menu this one involving Scaling protocol arbitrum arbitrum Wales Have been moving a massive amount of Tokens onto cryptocurrency exchanges Following the unlock of a significant Amount of vested tokens on March 16 Arbitrum unlocked 1.1 billion or tokens Worth around $2.3 billion data from Crypt vesting tracker token unlocks Showed that arbitrum unlocked 673 Million tokens for its advisors and its Team members while while investors Received around 438 million AR tokens as Well look on chain data from March 18th Shows that at least 11 whale holders Deposited tokens onto exchanges Following the unlock the 34 million or Tokens tracked were valued at $58 Million the price of OB has been Decreasing in the leadup to the Token Unlock OB recorded a high of $222 on March 13 and dropped to $184 on March 16 on the day of the Unlock this marks a 29% drop below its All-time high of $2.39 which it hit on January 12th According to token unlocks arbitrum is Scheduled to release another 922 million

Tokens on the 16th of April lassi I hope You're enjoying that coffee you brought From Starbucks while you're listening to This Rising crypto podcast because it Could be one of the last that could earn You a Starbucks nft that's right the Multinational coffee chain has announced Its ending its program that allowed Customers to earn and buy digital Collectible nft stamps Starbucks's Odyssey beta program will come to an end On the 31st of March the program allowed Users to engage in coffee themed games And challenges in return for digital Stamps that could be used to access new Benefits and interactive experiences it Really is a full shutdown as a Marketplace where users traded their Digital stamps as well as the community Discord server will be closed down the Company hasn't quite revealed the Driving Factor behind the move but it Noted that it's looking to evolve the Program the web3 powered initiative was Launched on the polygon Network back in September 2022 and that's it for today's episode Consider yourself informed thank you for Listening to the rise and crypto podcast By coin Telegraph of course if you're Enjoying these daily updates please make Sure that you let us know by following Subscribing or leaving a review have a Great Monday Robert bags will be back

With you on Tuesday for your next crypto Fix N