CoinChapter.com presents the top cryptocurrency news of the day. Stablecoin transfers have experienced a significant increase over the past four years, with monthly transfer volume reaching a record $1.68 trillion in April 2024, up from $100 billion in October 2020. This 16-fold increase demonstrates the growing adoption and investor confidence in the crypto market. The total market value of all stablecoins now exceeds $162 billion, and there are over 31 million monthly active stablecoin users who have made 353 million transactions in the last 30 days.
In other news, LayerZero, a protocol enabling cross-chain communication, has announced an upcoming token airdrop for 1.28 million eligible wallets. During the airdrop, 8.5% of the tokens will be claimable, while the remaining tokens will be distributed gradually over three years. However, the final number of eligible wallets may change as LayerZero removes wallets engaged in “sybil farming.”
LandBridge, a US company that acquires land for oil and gas operations, is targeting crypto miners as part of its strategy for its $320 million IPO. The company owns 220,000 acres in the oil-rich Permian Basin and believes that the infrastructure on its land could benefit crypto miners and data centers. LandBridge already earns over $52 million annually from non-oil and gas royalties, including a crypto mining facility on its land.
Iran’s central bank is launching a pilot program for its new central bank digital currency (CBDC), the digital rial, starting June 21st. Initially, the digital rial will be available to bank customers and tourists visiting Kish Island. This pilot program will allow Iran to test the digital rial for domestic micro-payments before a full nationwide rollout of the CBDC.
In a controversial move, Martin Shkreli, also known as “Pharma Bro,” claims to have helped create the DJT token on Solana. This token has drawn speculation of links to Donald Trump’s family. Shkreli stated that around 10 people directly created DJT, with 40-50 others aware of its existence, including Trump’s son Barron.
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