CoinChapter.com presents the top cryptocurrency news of the day. Here are the highlights:
1. Stablecoin Transfers Surge: In the past four years, the use of stablecoins has grown exponentially. In April 2024, monthly stablecoin transfer volume reached a record $1.68 trillion, a significant increase from $100 billion in October 2020. This surge indicates the growing adoption and investor confidence in the crypto market. The total market value of stablecoins now exceeds $162 billion, with over 31 million monthly active users making 353 million transactions in the last 30 days.
2. LayerZero Airdrop: LayerZero, a protocol enabling cross-chain communication, is set to airdrop tokens to 1.28 million wallets. The airdrop will allocate 23.8% of the token supply to LayerZero users and developers. When launched, 8.5% of these tokens will be claimable, while the remaining tokens will be gradually distributed over three years. However, the final count of eligible wallets may change as LayerZero removes wallets engaged in “sybil farming.”
3. Oil Company Targets Crypto Miners: US-based company LandBridge, which acquires land for oil and gas operations, is eyeing crypto miners as part of its $320 million IPO strategy. With ownership of 220,000 acres in the oil-rich Permian Basin, the company believes its infrastructure, including power, water, and fiber optics, could benefit crypto miners and data centers. LandBridge already earns $52 million annually from non-oil/gas royalties and plans to diversify further by recruiting more miners.
4. Iran Launches CBDC Pilot: Iran’s central bank is launching a pilot program for its new central bank digital currency (CBDC) called the digital rial. Starting June 21st, the digital rial will be available to bank customers and tourists visiting Kish Island, a popular free trade zone. This pilot program will allow Iran to test the digital rial for domestic micro-payments before a nationwide rollout of the CBDC.
5. “Pharma Bro” Claims Involvement in Trump Crypto Token: Martin Shkreli, famously known as “Pharma Bro,” has claimed that he helped create the DJT token on Solana, which has sparked speculation about its connection to Donald Trump’s family. Shkreli stated that around 10 people directly created DJT, and an additional 40-50 individuals were aware of it, including Trump’s son Barron. A $150,000 bounty has been offered to identify the token’s creator, and most bets on betting platforms are against DJT being an official Trump token.
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