3/14/24: Dogwifhat On Sphere 🔮💸🐶

Author

Valko
March 14, 2024

Top News

  1. Dogwifhat community raises $650k for Vegas Sphere ad

  2. Ethereum Dencun upgrade is live, slashing L2 fees to near zero

  3. Elon Musk says Tesla will enable DOGE payments ‘at some point’

Specs’ Breakdown

1. Dogwifhat community raises $650k for Vegas Sphere ad

⌐◪-◪ → The Dogwifhat community just crowdfunded $650,000 to put their memecoin on the legendary Las Vegas Sphere.

This makes $WIF the 4th largest memecoin, with a market cap of $3.3B — with $DOGE still at #1 with a market cap of $26.7B.

Meanwhile, the total market cap for all memecoins just surpassed $60B as told by literally Bloomberg.

This is some serious bull market shit — even more bizarre than Franklin Templeton, a $1.5T asset manager, releasing a research paper on memecoins. Yes, that actually happened.

2. Ethereum Dencun upgrade is live, slashing L2 fees to near zero

Ethereum Layer 2s show a dramatic drop in transaction fees after Dencun

Major Ethereum Layer 2 chains implementing blobs have seen a dramatic drop in average transaction fees — following the Dencun upgrade.

⌐◪-◪ → The long-awaited Ethereum Dencun upgrade is live, and L2 fees have dropped to almost zero. Seriously though look at these numbers

  • It costs less than $0.01 to use Uniswap on Optimism

  • Base fees dropped from $0.5 → $0.0012 (-99.76%)

  • Starknet fees dropped from $2 → $0.01 (-99.5%)

While changes like these are scary, leading to issues like Blast’s 2-hour outage, the benefits are undeniable.

I don’t think people have even begun to realize what use cases Dencun just unlocked — give it a few months to percolate. This is a game-changer, tackling one of crypto’s biggest problems (scalability) head-on.

Please join me on Twitter in congratulating the ETH devs and everybody else who helped with Dencun.

3. Elon Musk says Tesla will enable DOGE payments ‘at some point’

⌐◪-◪ → Elon Musk just said that Tesla will enable $DOGE payments at some point in the future.

While Tesla customers can already buy merch with $DOGE, Elon says they’ll soon be able to purchase entire Teslas.

That’s cool and all, but you know what’s cooler…? (semi-sarcastic tone)

Elon just called Dogecoin “the people’s crypto” and I have a feeling it’s going to stick. Naturally, Dogecoin pumped 5% on the announcement.

To be honest, Elon’s Dogecoin-pumping behavior used to bother me, but I suppose if you can’t beat them, join them.

Dogecoin to the moon.

Everything Else

⛓️ Crypto & DeFi

  • Blast stops producing blocks for 2 hours post-Dencun upgrade

  • PancakeSwap V4 will be released this year, adding 4 key features

  • BitGo adds replace-by-fee (RBF) integration for greater tx control

  • Jack Dorsey’s Block begins shipping Bitkey BTC wallets

  • BNB Chain introduces rollup-as-a-service solution

  • Coinbase deletes page on “how to buy Elizabeth Whoren”

  • Genetics student turns 12-word seed phrase into a strand of DNA

  • Ether.fi plans real-world cash account payment system

  • Fireblocks partners with Zodia Markets on cross-border payments

  • Blockaid saved Coinbase Wallet users from $75M in scams

🏦 Wallstreet & VC

  • Michael Saylor is raising $500M to buy more Bitcoin

  • Andrew Kang wants to be the MicroStrategy of Dogecoin

  • Bakkt risks NYSE delisting as price falls below $1

  • Peter Schiff says he regrets not buying Bitcoin in 2010

  • Polyhedra raised $20M on a $1B valuation for zkBridge

🏛️ Legal & Regulatory

  • FinCEN analyzing $165M in transactions potentially linked to Hamas

  • House panel spars over whether crypto should be part of CFPB rule

  • Judge tosses out Gemini & Genesis motion to dismiss SEC lawsuit

  • US Attorney’s Office files action to recover $2.3M from crypto scam

🌎 Rest of the World

  • EU publishes draft rules for stablecoin issuers

  • Crypto.com to appeal $3.1M fine by Dutch regulator

  • Hong Kong launches new round of e-HKD pilot to study CBDCs

  • South Africa to license 60 crypto firms this month

  • Australian courts side with Finder Wallet in lawsuit

  • El Salvador removes income tax on money coming into the country

🖼️ NFTs & Metaverse

  • Magic Eden diamonds point airdrop is live

  • Black Mirror NFT collection sells out in minutes

  • Ambrus Studio brings PC & mobile gaming to SUI

  • Devs upload Jerry Seinfeld’s ‘Bee Movie’ on ETH as gas plummets

  • Ronin hits all-time high as network hosts free ‘Kaidro’ NFT mint

  • Ryan Carson joins Intel

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