Web3 Watch: Base kicks off Onchain Summer 2.0

Coinbase’s layer-2 blockchain Base has welcomed the second iteration of its Onchain Summer, where it will be inviting builders and creators to bring more users onto the blockchain.

To mark the initiation of the event, Base will be hosting a month-long online hackathon beginning June 3 with 200 ETH (~$613,200). worth of rewards to be distributed to finalists. 

In total over the Summer, over 600 ETH (~$2 million) will be offered to creatives in the form of grants, prizes, and gas credits. 

Base launched its mainnet in August last year with Optimism’s OP stack and has quickly become one of the most popular L2s today. According to L2Beat, it currently has a TVL of $5.52 billion and an…

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LATEST: Telegram’s 900 Million Users Million Users Boost TON’s Market Strength

Telegram has recently reached an impressive 900 million user milestone, enhancing its influence in the digital world. This surge in users directly benefits TON, a blockchain designed to integrate smoothly with Telegram’s expanding ecosystem. TONcoin’s integration within the Telegram app allows users to conduct transactions via the platform’s native wallet, capitalizing on the vast user base’s interest in cryptocurrency. This integration offers cheap transactions and fee-free USDT transfers on TON’s blockchain, an appealing feature for those looking to execute frequent, cost-effective transfers.

However, the convenience of a wallet within a messaging app comes with security concerns. Critics argue that while it’s great for daily transactions, it might not be secure enough for large holdings. For those concerned about safety, traditional hardware wallets still offer better protection for significant assets.

Despite these security issues, Telegram’s ecosystem, which includes apps and bots that interact with wallets, allows users to engage in activities like “farming” directly through the platform. This level of integration could significantly enhance TONcoin’s adoption, provided it can navigate the complex terrain of regulation and security in the cryptocurrency world.

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Check Out the Top Crypto Gainers of the Day

$1M – $10M MarketCap:

  1. Virtual Versions (VV): 39%
  2. GPTVerse (GPTV): 19%
  3. Based Shiba Inu (BSHIB): 15%
  4. NADA Protocol Token (NADA): 12%
  5. Reality Metaverse (RMV): 5.8%

$10M – $100M MarketCap:

  1. MangoMan Intelligent (MMIT): 55%
  2. MINATIVERSE (MNTC): 41%
  3. Shping (SHPING): 22%
  4. Artrade (ATR): 20%
  5. NULS (NULS): 11%

$100M – $1B MarketCap:

  1. Celsius Network (CEL): 70%
  2. Golem (GLM): 43%
  3. Pangolin (PNG): 18%
  4. Ontology Gas (ONG): 13%
  5. Autonolas (OLAS): 12%

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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LATEST: Mercado Libre’s $29 Million Bitcoin Stash Unveiled in SEC Filing

Latin America’s largest e-commerce platform, MercadoLibre, reported owning 412.7 BTC, valued at $29 million, according to its recent filing with the U.S. Securities and Exchange Commission (SEC). The revelation of the company’s Bitcoin holdings showcases its integration into the cryptocurrency market.

The SEC filing, which covered data as of March 31, highlights MercadoLibre’s participation in digital assets despite market volatility. The platform, known for its vast reach across the region, first ventured into the cryptocurrency space in 2021. Its significant Bitcoin holdings underline the potential role digital currencies play in the company’s financial strategy.

While traditional markets have fluctuated, MercadoLibre’s continued interest in Bitcoin reflects a broader shift toward digital currencies. The company appears to indirectly endorse Bitcoin, signaling its faith in the cryptocurrency’s long-term value amid rapidly changing financial landscapes.

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LATEST: Jack Dorsey Donates $21M to OpenSats for Bitcoin Development

Jack Dorsey, co-founder of Twitter, has backed Bitcoin and decentralized social media with a $21 million donation to OpenSats. His contribution underscores the belief that Bitcoin is the internet’s native currency. The donation from his #startsmall initiative includes $15 million for OpenSats’ General Fund, $5 million for The Nostr Fund, and $1 million for operational budgets. This funding will support various projects and initiatives crucial to the Bitcoin ecosystem, including Nostr, which recently integrated Bitcoin payments and has 16 million users.

Dorsey’s donation aims to drive Bitcoin’s development as a currency and technological standard, including funding legal defense for developers facing legal issues related to their work. Additionally, OpenSats has appointed new members to its committee and board, emphasizing collaboration and strategic planning to promote open-source technology. Dorsey’s significant contribution reflects his vision of a decentralized internet where users have more control over their digital experiences.

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