Crypto News– BNB Chain is the most recent addition to embrace the trend of memecoins, enticing developers to its blockchain by offering rewards.
02 April Crypto News- What Happened Crypto Markets Today
Observers of the cryptocurrency market remark that memecoins are contributing to the peculiar dynamics of this bullish market. Meanwhile, reports suggest that Sam Bankman-Fried has denied any perception of his actions as illegal.
BNB Chain offers a 1 million Dollars reward in a bid to attract developers of memecoins
In the midst of the explosive growth of meme tokens within the crypto ecosystem, smart contract blockchain BNB Chain is making efforts to attract memecoin developers.
BNB Chain announced its plan to allocate up to $1 million to reward eligible developers who deploy their memecoin projects on the network.
Interested developers can apply to participate in the network’s Meme Innovation Campaign and deploy their tokens during the campaign period, which is scheduled to run from April 10 to May 9.
Beyond BNB Chain, other blockchain networks have also joined the trend of encouraging memecoin development within their ecosystems.
On March 22, the Avalanche Foundation continued this trend by offering a $1 million reward for memecoin liquidity providers. Participants who provide liquidity to selected memecoins stand eligible to receive a share of the rewards.
Meme Tokens Add to the Unconventional Nature of the Bull Market
Crypto industry analysts are labeling the current bull market as the weirdest on record, citing a premature all-time high for Bitcoin (BTC) at $65,372 and a significant surge in memecoins ahead of the Bitcoin halving.
I think most people would agree this bull market has been weird
— Zach Rynes | CLG (@ChainLinkGod) April 1, 2024
BTC performance has been clearly supercharged by the ETF launch, injecting liquidity into the space
But liquidity that has flowed directly to memecoins ?
The market skipped a couple steps that we have seen with…
I can say with full confidence that this is, by far, the weirdest bull market crypto has ever had.
Anthony Sassano
Sassano further commented that retail traders are currently not substantially invested in crypto and suggested that the significant pumps observed in isolated sectors are due to crypto natives maneuvering around a hot ball of money.
I think most people would agree this bull market has been weird.
Anthony Sassano
Sam Bankman-Fried Voices Thoughts Following Sentencing
Sam Bankman-Fried, former CEO of FTX, responded to inquiries following his recent 25-year prison sentence, stating, I never thought what I was doing was illegal.
According to ABC News, the FTX co-founder addressed questions via email from the Metropolitan Detention Center in Brooklyn, New York, where he has been held since last August.
I’m haunted, every day, by what was lost. I never intended to hurt anyone or take anyone’s money,
Sam Bankman-Fried
He attributed the collapse of FTX and its sister trading firm Alameda Research to bad decisions but maintained that his actions were never driven by selfish motives.
Despite the verdict handed down last week, Bankman-Fried plans to appeal. Judge Lewis Kaplan likened Bankman-Fried to a thief and dismissed his efforts towards crypto regulation as an act.
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