Meme coins bring silver lining to Bitcoin clouds

Bonk, Pepe, and Floki are bright spots in an otherwise lukewarm week in crypto.

Author

Ryan Ozawa
April 27, 2024

Welcome to the Daily Dispatch from Decrypt. This is Ryan in Honolulu bringing you your weekend update. Catch the latest from across our Hubs here!

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📝 What you need to know

Price action for Bitcoin has been… uninspired, especially given the high expectations heading into the halving: BTC is down 3% for the week, and Bitcoin spot ETF investments receding. But meme coins are keeping things interesting, with tokens like Bonk, Pepe, and Floki drawing substantial gains.

Game tokens are also heating up, with the imminent Notcoin launch on The Open Network. The Heroes of Mavia (MAVIA) debut, however, is being pushed back.

Top Stories

This Week in Coins: Bitcoin Stumbles but Meme Coins Come Out Winning—Again - Decrypt

Bitcoin has barely budged alongside an ETF sell-off. But several meme coins have soared over the past seven days.

decrypt.co/228355/this-week-in-coins-bitcoin-meme-coins-bonk-pepe-floki

Yuga Labs ‘Lost Its Way’ Says CEO as Bored Ape NFT Maker Reveals Layoffs

Bored Ape Yacht Club creator Yuga Labs is restructuring with an aim to get back to its smaller, scrappier early days.

Ethereum Allies: Arbitrum Team Helps Optimism Avoid ‘High Risk’ Vulnerability

Offchain Labs, the core team behind Arbitrum, identified security issues in a test-net version of Optimism that could have hurt users.

Elizabeth Warren Claims Crypto Is the ‘Payment of Choice’ for Child Abuse Material

The top senator wants to help the Justice Department and Homeland Security clamp down on the use of cryptocurrency in child exploitation.

🤝 From our Partner: The Week in Polkadot: Web3 Foundation Backs Decentralized Storage

The Web3 Foundation backs decentralized storage project StorageHub, while Polkadot founder Gavin Wood launches a new podcast. (Sponsored post by Polkadot Community)

Sponsored post by Polkadot Community

From Our Partner

QuickNode OnChain Report: 2024 Q1

The ever-evolving digital landscape sees continuous innovation, but in the last quarter alone, the blockchain ecosystem has witnessed remarkable transformation. Here’s a report that puts it all in perspective.

This comprehensive report is a collaboration between QuickNode, a premier Web3 infrastructure and developer platform, and Artemis, a cutting-edge institutional data platform for digital assets. Together, they offer a deep dive into the significant commercial progress unfolding across various chains and sectors within the blockchain universe.

💬 Quote of the Day

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I am hellbent on transforming yuga and getting us back to our roots, and that means making hard decisions.

– Greg Solano, Yuga Labs CEO

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🌐 From Our Hubs

🎮 GG: ‘Notcoin’ Game Token Is Launching Soon—Here's How the Claim Works

The NOT token is dropping in a matter of days, Notcoin’s co-creator told Decrypt’s GG. Here’s what to expect from the claim process.

🤖 EMERGE: Sam Altman, Satya Nadella Join High-Powered AI Safety Board for Homeland Security - Decrypt

Twenty leading AI developers—including OpenAI, Microsoft, NVIDIA, and Google—pledge to help the US Department of Homeland Security protect critical infrastructure.

🎭 SCENE: 'Cold Wallet' Review: The First Real Crypto Film

After a crypto exchange collapses, a group of Redditors set out to recover their funds from the CEO—by whatever means necessary.

decrypt.co/228289/cold-wallet-review-first-real-crypto-film

📚 Dive Deeper

🎓LEARN: How to Get Started With Bitcoin Runes: A Guide to Etching, Minting and Trading

Bitcoin Runes tokens are taking over the network, but they can be tricky to handle. Here's a guide on how to get started with Runes.

decrypt.co/resources/how-get-started-bitcoin-runes-guide-etching-minting-trading

📹 WATCH: Luxury Watches, Designer Shoes Will Soon Trade Like NFTs: Arianee CEO

Arianee CEO Pierre-Nicolas Hurstel sat down with Rug Radio founder Farokh and Decrypt’s Sander Lutz at NFT Paris to discuss everything from the future of on-chain luxury to the secret hack to finding the best restaurants in France.