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Markets

Solana developers rally to combat network congestion (3 minute read)
Tried to make a transaction on Solana over the past few days? It’s a nightmare. The network's been hit with a major congestion headache, and it's causing a real stir. Transaction snarl-ups are the new normal, and a ton of transactions are just falling through the cracks.

The Phantom wallet app users are feeling the pinch, getting a heads-up about the long waits. One of the major causes is a swarm of spam transactions, with bots elbowing out regular folks in the queue. Plus, with an influx in meme coin trading, activity is at all time highs.

Solana devs are already on the case, they're cooking up fixes as we speak, but it's not an overnight fix, so patience is key. The Solana Foundation's strategy maestro Austin Federa chimes in, admitting they're in the thick of it but promising smoother sailing ahead.

Toncoin enters top 10 crypto by market capitalization, overtakes Avalanche (2 minute read)
Toncoin (TON) just zoomed past Avalanche (AVAX) in the crypto race, hitting a whopping $19 billion market cap. TON's trading volume shot up by a staggering 91% in just 24 hours, racking up $223 million. This isn't just a flash in the pan, either – the coin's price has skyrocketed by 120% since the start of the year, sitting pretty at $5.45.

Back in September 2023, TON outpaced Tron (TRX) thanks to its slick digital wallet launch on Telegram. This big reveal happened at the Token2049 conference in Singapore, no less. Telegram's boss Pavel Durov's also announced a new reward system, letting channel owners bag 50% of ad revenue in TON. Plus, you can now buy ads on Telegram using Toncoin, and cash out through the Fragment blockchain platform.

And as if that's not enough, there's chatter about Telegram's IPO valuation hitting the $30 billion mark. Binance is also jumping in with a perpetual futures contracts for Toncoin.

Tensor NFT Marketplace Reveals Solana Token Launch, Coinbase to List (3 minute read)
Tensor, the NFT marketplace on Solana, is gearing up to drop its shiny new TNSR token next week. And guess what? Coinbase, the is already on board to list this hot new token.

While Coinbase is playing it cool on the exact listing date, the TNSR token is set to hit the market on April 8. This big debut isn't just a one-trick pony - it's perfectly timed with the end of Tensor’s season 3 rewards program and the kickoff of season 4’s trading incentives.

The Tensor Foundation's Twitter feed is buzzing with news about "treasure boxes" packed with TNSR tokens for the program's participants. You can peek and pop open all those treasure boxes from the first three seasons right on the launch day, April 8 (TODAY).

Best of Crypto Twitter

First up, over the weekend the rivalry between Bitcoin Puppets and Node Monkes continued to heat up, with both projects in competition for the number one pfp ordinal project (essentially NFTs on Bitcoin).

Node Monkes are currently in number #1, but Puppets have been growing faster recently and have a much stronger cult on Twitter.

Some of the criticisms that Puppets have over Node Monkes is that there is no real strong community presence and that they think the Node Monke team is greedy, holding a chunk of the supply. Meanwhile, Node Monkes compare this to how the original Crypto Punks team did something similar.

Elsewhere on Crypto Twitter, people are getting excited for the Tensor airdrop, especially those who have been farming for the past year.

Misc

Do Kwon, Terraform Labs found liable for fraud in SEC case (3 minute read)
Terraform Labs and its ex-CEO, Do Kwon, has been found liable for fraud. This verdict wasn't a slow burn – it came hot on the heels of the closing arguments in a courtroom showdown with the SEC. SEC's lawyer Laura Meehan didn't mince words, painting Terraform's rise as a fairy tale gone wrong, a "success story built on lies," as Reuters puts it. The big oopsie? Misleading investors about Terra USD, their algorithmic stablecoin that went kaput in 2022, taking a chunk of the crypto world down with it.

Billions vanished from the crypto market faster than you can say "blockchain." And the fallout? It's like watching dominoes fall. The crash dragged down big players like Three Arrows Capital, and had lenders like Voyager and Celsius scrambling for bankruptcy court faster than you can hit refresh on your portfolio.

Ethereum Foundation Researchers' Proposal to Slow ETH Issuance Draws Pushback (3 minute read)
Some members at the Ethereum Foundation dropped a bombshell proposal to slow down the minting of new ether (ETH) tokens. Why? They're aiming to put the brakes on the rewards for stakers. The deal is, these stakers are banking on those freshly baked ETH tokens as part of their staking yields.

The big idea behind this move? To stop the liquid-staking industry from getting too big for its boots by making it less enticing for newbies to join the staking game. But, as always, there's a twist. Some in the Ethereum community are giving this proposal the side-eye, wondering if it's really necessary or if fiddling with the system will even work to balance market demand.

And now, the chatter's getting louder, with some pondering if the Ethereum Foundation, where Vitalik Buterin hangs his hat, is getting a bit too heavy-handed with its sway over this supposed decentralized network.

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