Solana Firedancer Achieved Milestone with First Testnet Block Produced
Daily Top Performer — Heroes of Mavia (MAVIA)
The SPX index was up by 1.02% as Federal Reserve Chair Jerome Powell indicated in a House session that the Fed might cut rates before inflation reaches 2% and observed that the US economy is no longer overheated. The broader cryptocurrency market was mixed, with Bitcoin dropping by 0.80% and Ether rising by 0.79% in the past 24 hours.
Today's top performer is MAVIA, which surged 19.7% after Heroes of Mavia launches Ruby Battles for a new era in sustainable web3 gaming.
Heroes of Mavia (MAVIA), launched on February 6, 2024, is a multiplayer strategy game developed on the blockchain by Skrice Studios. In the game, players construct bases, prepare their troops, and engage in battles with others to win resources and the RUBY digital currency. It leverages Web3 technology and operates on a play-to-earn framework. Heroes of Mavia has introduced Ruby Battles, a feature where players can compete in tournaments for Ruby. The game saw over 20,000 battles in just a day, with Ruby being increasingly burned, indicating active participation. The game's Ruby model is touted as sustainable and scalable, aiming to prevent the pitfalls of earlier play-to-earn games. A new Ruby Web Marketplace is also upcoming, heralding a new era in Web3 gaming.
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Talk of the Town:
Jump Crypto's Firedancer, a new high-performance validator client for Solana, has successfully built its first block on the Solana testnet. Developed in C++ and designed to significantly enhance transaction processing through sharding, Firedancer aims to allow Solana to handle up to 1 million transactions per second (TPS). This development introduces a second validator client to Solana, which previously had only one, increasing the network's decentralization and security. However, Firedancer encountered synchronization issues after building additional blocks, which are expected to be fixed in future updates. Jump Crypto has also announced a reward of up to $1 million for developers who can identify vulnerabilities in Firedancer.
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Spot Bitcoin ETF Flows:
Category | Flow (millions) |
GBTC | (8.2) |
Non-GBTC | 112.7 |
Total | 104.5 |
Despite sluggish market conditions, Bitcoin Spot ETFs have seen substantial inflows of $104.5 million, primarily driven by major inflows from BlackRock and Fidelity. This robust investment activity occurs amidst market turbulence from significant Bitcoin sales by the German government and Mt. Gox hack repayments, adding volatility and uncertainty. Nonetheless, continued strong backing from key institutional players reflects a resilient and potentially optimistic outlook for Bitcoin's market. Currently, Bitcoin is trading at $58,728.
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Airdrop to Watch:
Usual, a decentralized RWA stablecoin protocol, has launched its Public Mainnet and a Pills Campaign, which allows participants to earn Pills that count towards a confirmed airdrop. The campaign, lasting four months, allocates 7.5% of the $USUAL token. Participants can mint USD0 tokens using cryptocurrencies like USDC and ETH, provide liquidity on Curve, and earn substantial multipliers on their Pills, increasing daily up to a maximum of 10.5X over the campaign period. Additional Pills can be earned through Galxe quests. The initiative is backed by a $7M funding from entities including Kraken and IOSG Ventures.