Coins.ph Launches PHPC: The 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 for release in June 2024. PHPC aims to reduce the cost and increase the speed of financial transactions, such as remittances and payments, by leveraging blockchain technology. The stablecoin will be backed by cash reserves held in Philippine banks, ensuring its value remains stable. This initiative is expected to revolutionize how Filipinos send money, trade, and interact with digital currencies in a more efficient and affordable way. (BitPinas)
US Bitcoin ETFs Experience Daily Inflows for the First Time
For the first time, all US Bitcoin ETFs recorded positive net inflows on March 6, with a notable $280 million added to their holdings. This influx, which amounted to 4,412 BTC, indicates growing institutional confidence in Bitcoin and ETFs, particularly as older investors hold their shares during market downturns. The event marks a pivotal moment in the acceptance and stability of Bitcoin ETFs, solidifying their place in the financial ecosystem. With increasing interest from traditional investors, Bitcoin ETFs are seen as a reliable gateway for broader cryptocurrency adoption. (Crypto Briefing)
Polygon Launches Miden Alpha Testnet for Private Transactions
Polygon has introduced its Miden Alpha Testnet, a cutting-edge solution that uses zero-knowledge rollups to facilitate private and high-throughput transactions. The testnet allows users to perform state transitions without revealing sensitive data, which enhances privacy and scalability for decentralized applications. Miden is designed to compete with other zk-rollup solutions, such as StarkWare and zkSync, by offering features like private accounts and parallel transaction execution. This launch is a significant step toward empowering developers to build more secure and efficient blockchain applications. (Blockworks)
Dogecoin's Whale Inflows Surge 582%, Fueling Potential Rally
Dogecoin has seen a dramatic 582% surge in large holder inflows, from 126.63 million DOGE to over 754 million, fueling speculation of a potential rally. This surge in whale activity, which now totals $116 million, indicates bullish sentiment and could signal the beginning of a market turnaround. With Dogecoin's dominance in the meme coin market strengthening, these whale inflows highlight increased investor confidence and could lead to further price increases. The surge underscores Dogecoin's continued popularity and potential for growth within the crypto market. (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 decentralized AI network based on Proof-of-Inference, integrating machine learning and zero-knowledge cryptography. The platform aims to address concerns around AI monopolies by incentivizing accurate predictions on the blockchain. This approach not only ensures transparency but also promotes inclusivity within the Web3 ecosystem. The funding marks a key step toward democratizing AI and fostering more accessible and secure AI solutions for the broader tech community. (Cointelegraph)
UK Moves to Regulate Staking and Stablecoins
The UK government, under Economic Secretary Bim Afolami, is prioritizing the regulation of staking and stablecoins to position the country as a global leader in cryptocurrency. These regulations aim to enhance market stability, attract more businesses to the sector, and provide clearer guidelines for the growing crypto market. Despite some political uncertainty, the government is committed to advancing these initiatives, which are expected to boost investor confidence. The UK’s move to regulate staking and stablecoins represents a significant step toward creating a secure, well-regulated crypto environment. (Be in Crypto)
Fantasy Top Emerges as a Top Earner in Crypto Gaming
Fantasy Top, an Ethereum-based NFT game, has rapidly gained traction, earning $9.31 million in revenue in its first week. Hosted on the layer-2 Blast network, the game has captured the attention of the crypto community, with trading fees and NFT card pack sales driving its success. Featuring Crypto Twitter influencers as tradable NFT cards, the game has combined gaming with social media, fueling widespread adoption. Its quick rise to profitability showcases the potential of NFT-based games and the growing intersection between gaming, crypto, and social media. (Decrypt)
