Coins.ph Launches PHPC: Philippine Peso-Pegged Stablecoin
Coins.ph has received approval from the Banko Sentral ng Pilipinas (BSP) to launch PHPC, the first retail-available stablecoin pegged to the Philippine peso, set to debut in June 2024. PHPC aims to streamline financial activities like remittances, trading, and payments, promising reduced costs and real-time transactions backed by cash reserves in Philippine bank accounts. This move is expected to transform remittance transactions, offering Filipinos enhanced convenience and cost-efficiency in the digital economy. (BitPinas)
US Bitcoin ETFs Experience Daily Inflows for the First Time
All spot Bitcoin exchange-traded funds (ETFs) in the US have recorded positive netflows for the first time on March 6, according to Bloomberg ETF analyst Eric Balchunas, signaling a significant milestone for the market. Balchunas noted that over 95% of ETF investors held their shares during recent market downturns, highlighting the resilience and stability of ETF investments, particularly among older investors. With US Bitcoin ETFs adding 4,412 BTC to their holdings, equivalent to over $280 million, the influx of capital further solidifies the growing acceptance and adoption of Bitcoin ETFs in the traditional financial landscape. (Crypto Briefing)
Polygon Launches Miden Alpha Testnet for Private Transactions
Polygon has introduced its Miden Alpha Testnet, a zero-knowledge rollup solution allowing users to generate proofs for state transitions without revealing information to the wider network, enabling private and high-throughput applications. With features like private accounts and parallel transaction execution, Miden aims to empower builders to create self-sovereign applications not feasible on EVM-chains, competing with other zk rollup solutions like StarkWare and zkSync. (Blockworks)
Dogecoin's Whale Inflows Surge 582%, Fueling Potential Rally
Dogecoin's dominance in the meme coin market strengthens as a critical metric, with a 582% surge in large holder inflows, suggests a forthcoming rally driven by DOGE whales. The significant increase, from 126.63 million DOGE to over 754 million, equivalent to $116 million, underscores bullish sentiment surrounding the original meme coin. As whale activity surges, indicating potential market bottoming and increased buying interest, Dogecoin's trajectory towards a bullish rally becomes increasingly evident. (Watcher Guru)
Inference Labs Secures $2.3M for Decentralized AI with Web3 Protocol
Inference Labs has raised $2.3 million in pre-seed funding to develop a verification network using Proof-of-Inference, aiming to decentralize AI and promote inclusivity. Their approach integrates zero-knowledge cryptography and machine learning, incentivizing accurate predictions on the blockchain to optimize performance and address concerns of monopolization in AI. This marks a significant step towards democratizing AI technology and ensuring transparency and accessibility within the Web3 community. (Cointelegraph)
UK Moves to Regulate Staking and Stablecoins
The UK government, led by Economic Secretary Bim Afolami, is prioritizing the regulation of staking and stablecoins to establish the country as a global cryptocurrency hub, aiming to bring stability and attract more businesses to the sector. Despite recent electoral setbacks, the Conservative Party is committed to advancing these regulations, although uncertainties remain with the upcoming general elections potentially impacting the legislative process. Afolami emphasizes the urgency of these regulations, highlighting their importance in enhancing market stability and investor confidence while providing clear guidelines for the crypto sector. (Be in Crypto)
Fantasy Top Emerges as a Top Earner in Crypto Gaming
Fantasy Top, an Ethereum NFT game hosted on layer-2 network Blast, has rapidly gained popularity, ranking among the most profitable crypto protocols within just a week of its launch. With $9.31 million in ETH revenue, it sits alongside major blockchain networks like Bitcoin and Ethereum, driven by NFT card pack sales and trading fees on its secondary marketplace. The game's unique concept, featuring Crypto Twitter influencers as tradable NFT cards, has propelled its success, tapping into the social media-driven crypto community for widespread adoption and engagement. (Decrypt)
