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| | Learn more | | Ethereum notes decline amid bot activity, sandwiches |  | Before Ethereum's Shapella Upgrade, there was a lot of optimism in the market as addresses were unstaking their ETH from the beacon chain. However, as time passed, the sentiment around ETH started to change.
According to CoinMarketCap, for instance, the value of ETH declined by 5.94% over a 24-hour period, complemented by bearish sentiments from traders. Moreover, this was supplemented by the fact that a large sum of Out of The Money block puts made up 15% of daily trader volume, implying that traders expect ETH prices to fall further.
Additionally, the Ethereum network also saw a lot of bot activity. Over the past month, MEV bots set a new record by earning $1.035M in profits through 11,640 transactions, including $940,000 in profits from sandwich attacks.
These high numbers of MEV bots and sandwich attacks can increase congestion and transaction fees and cause the network to slow down, leading to a negative impact on user experience and overall efficiency. | | Learn more | | Ethereum gas fee sees hike amid memecoin frenzy |  | The cryptocurrency market is seeing a growing memecoin frenzy. Memecoins such as TROLL and APED have taken over as the top gas-burning altcoins, instead of ETH and USDT.
As a result of the same, Ethereum network's gas fee has skyrocketed to a new multi-month high. The average gas price for Ethereum transactions, as of 20 April, was 81.94 gwei, up from 44.42 gwei last year — A hike of 84.46%.
The high transaction fee has in turn swelled Ethereum's daily revenue multifold. While Ethereum proponents celebrate the revenue growth, many others are quick to point out the growing congestion on the network and the difficulty in processing transactions.
Moreover, the high gas fee and subsequent higher revenue highlight the network's growing usability. However, a few users reportedly paid gas fees as high as a few hundred dollars, while others complained about having to pay a higher gas fee than the actual transaction. | | Aptos launches Aptos Node Release v1.2.4 |  | | Aptos, on 20 April, released an upgrade that added several new features to the network. The newly launched update will provide support for high-precision integers U256, U32, and U16, enabling accurate calculations critical for various DeFi applications.
The latest node release will feature an exponential back-off to reduce timeouts for full nodes in low-bandwidth environments. There are also performance optimizations to reduce latencies and better handle timeouts.
Aptos will now be able to allow the functionality outlined in its AIPs 1, 2, 3, and 4. Considering the features introduced, the new release has the potential to propel further network growth. However, Aptos saw its price decline by more than 9% in the last 24 hours, accompanied by a hike in trading volume as investors sell their assets. | | Learn more | | Solana's Helium migration a 'success' |  | Network's update highlighted that Solana's NFTs are more affordable to mint now This, in comparison to those on Ethereum, Polygon
On 19 April, Solana released an update confirming the success of the Helium migration. The network's update compared Helium's operating costs of minting NFTs and highlighted that Solana's NFTs are more affordable to mint than those on Ethereum and Polygon.
The move to Helium is a significant event as it's rare for a project to switch from its own layer 1 network and be hosted on another layer 1 blockchain. Additionally, Solana saw increased development activity as a result of this transition, but it did not have a notable impact on investor sentiment.
Notably, Solana's on-chain volume fell significantly in the last 24 hours, despite an uptick during Wednesday's trading session. This is a sign of the uncertainty of traders regarding the next market move. However, bearish exhaustion suggests that investors are still optimistic about Solana's prospects, indicating a potential avoidance of further sell-off. | | Learn more | | Former FTX U.S Chief to launch crypto, Futures trading hub |  | | Brett Harrison, former President of FTX U.S., is launching a trading hub for Futures and crypto-trading targeting institutional investors, after leaving FTX's American arm in September 2022. According to a report by Bloomberg, the new trading hub will be launched by Architect Financial Technologies, which was founded by Harrison in January.
The new trading hub will tap into various exchanges such as Coinbase Global, CME Group, and Uniswap. Furthermore, Architect Financial is collaborating with StoneX Group and Wedbush Financial Services to provide clearing services for futures trades.
Notably, the new trading hub will not manage or trade client funds. The firm plans to expand to other asset classes like equities and options. The company also intends to offer OTC trading through market makers such as Galaxy Digital and Wintermute. | | Binance.US gets green signal to acquire Voyager Digital's assets |  | This follows an agreement between U.S government, Voyager Digital's Unsecured Creditors Committee Acquisition expected to move forward once approved by the New York District Court
Following an agreement reached between the US federal government and Voyager Digital's Unsecured Creditors Committee, Binance US has been allowed to acquire the assets of bankrupt crypto lender Voyager Digital for $1 billion. All parties involved in the deal have agreed, and the acquisition is expected to move forward shortly.
According to a court filing, Binance will proceed with its original plan of acquiring the assets of bankrupt crypto lender Voyager Digital for $1 billion. The filing also stated that the government is allowed to appeal exculpation provisions that may protect Voyager Digital from some legal liabilities.
Voyager Digital, its Unsecured Creditors Committee and Binance's American arm are working to complete the $1 billion asset acquisition deal once it is approved by the New York District Court. Notably, the government has agreed to allow the deal to proceed without a certain exculpation provision and will not be subject to a stay, as per a joint stipulation. The appeals will continue regarding the provision. | | BitBoy Crypto misses court hearing, faces potential arrest warrant |  | Armstrong allegedly harassed plaintiffs' counsel Armstrong mocked the court order, sharing pictures of himself on a beach in Bahamas
Ben Armstrong, also known as "BitBoy Crypto," failed to attend a court appearance on 20 April, as ordered by a federal magistrate judge in a lawsuit involving several crypto-influencers. Armstrong allegedly harassed plaintiffs' counsel, leading to the order by Judge Melissa Damian.
Despite the order, Armstrong publicly mocked it on social media, sharing pictures of himself on a beach in the Bahamas. Judge Damian reportedly warned Armstrong's attorney that a warrant would be issued for the YouTuber's arrest if he did not appear by 24 April. Furthermore, the case progressed in Armstrong's absence, with the judge referring the matter to the FBI.
During the court hearing on 20 April, Armstrong continued to ridicule the case and the plaintiffs lead attorney Moskowitz, he also suggested that he did not attend the court hearing without advice from his attorney. However, he offered to appear before the judge in May through his counsel. As per the judge's order, Armstrong is prohibited from tweeting about Moskowitz and the plaintiffs. | | Bitcoin, Ethereum sink some more…
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