Weekly Trends (April 18- April 24)

Tron's Justin Sun Reveals Decentralized Algorithmic Stablecoin USDD

https://news.bitcoin.com/trons-justin-sun-reveals-decentralized-algorithmic-stablecoin-usdd/

Justin Sun from the Tron network has revealed a new stablecoin issued on top of the blockchain Tron. The announcement was also published on hejustinsun.com in a blog post called “An Open Letter on the Issuance of USDD, a Decentralized Algorithmic Stablecoin on Tron.” The letter explains how stablecoins have evolved from the “Omni-USDT 1.0 era” to decentralized algorithmic stablecoins. The blog post details that the Tron DAO has partnered with “major blockchain players” in order to launch USDD. The blog post further claims USDD will be “the most decentralized stablecoin in human history.”

Terra's Stablecoin UST Becomes Crypto's Third-Largest

https://decrypt.co/98069/terra-stablecoin-ust-crypto-third-largest

The fast-growing TerraUSD (UST) stablecoin from the Terra ecosystem has hit another key milestone. With more than $17 billion in market capitalization, it's become crypto’s third-largest stablecoin.

Terra's stablecoin overtook Binance USD (BUSD) to grab third place, but the gap is thin: roughly $68 million. The leading stablecoin as of this writing is Tether (USDT), which commands a whopping $82 billion market cap. USD Coin (USDC) is second at $49 billion.

Australia’s First Bitcoin ETF to Be Listed Next Week

https://finance.yahoo.com/news/australia-first-bitcoin-etf-listed-135726176.html

Financial regulators have greenlit Australia’s first Bitcoin (BTC) exchange-traded fund (ETF) to begin trading on April 27, and the Australian Financial Review reports it could see up to $1 billion in inflows.

An ETF is a regulated exchange-traded fund that allows investors to benefit from the price of Bitcoin without needing to own any coins themselves directly. Cosmos Asset Management beat out local contenders VanEck, BetaShares and EFT Securities to issue Australia’s first Bitcoin ETF. Each firm has been in the running to close out regulatory approvals since at least March, according to the Sydney Morning Herald.

Nike and RTFKT Reveal CryptoKicks—Their First Ethereum NFT Metaverse Sneakers

https://decrypt.co/98488/nike-rtfkt-reveal-cryptokicks-ethereum-nft-metaverse-sneakers

Sneaker and apparel giant Nike made a significant play towards the metaverse in December when it acquired RTFKT Studios, a firm known for original digital sneakers sold as NFT assets. Today, that alliance bore its first fruit as RTFKT revealed Nike’s first Ethereum NFT sneakers.

The RTFKT x Nike Dunk Genesis CryptoKicks are digital wearable items that are apparently designed for use in metaverse worlds. RTFKT revealed them initially via a teaser video on Twitter, which shows how the look of the digital shoes can be altereSoftBank leads $60M CertiK raise as demand for Web3 security growsd via collectible “Skin Vials,” which can be swapped to enable varying styles.

SoftBank leads $60M CertiK raise as demand for Web3 security grows

https://cointelegraph.com/news/softbank-leads-60m-certik-raise-as-demand-for-web3-security-grows

Blockchain security firm CertiK has raised $60 million in funding from SoftBank Vision Fund II and Tiger Global, further cementing its unicorn status after raising a combined $290 million over nine months.

Binance recovers $5.8M in funds connected to Ronin bridge exploit

https://cointelegraph.com/news/binance-recovers-5-8m-in-funds-connected-to-ronin-bridge-exploit

Via a Twitter post on Friday, Changpeng Zhao, CEO of Binance, said that the cryptocurrency exchange recovered $5.8 million spread over 86 accounts in digital assets moved to the exchange by Lazarus Group

Jay Powell signals Fed is prepared to raise rates by a half-point in May

https://www.ft.com/content/43d89b6e-c8c9-4ae3-b002-4e536c7f8935

Jay Powell has sent his strongest signal yet that the Federal Reserve is prepared to raise interest rates by half a percentage point at its meeting next month as the US central bank steps up efforts to fight soaring inflation.

“It is appropriate in my view to be moving a little more quickly,” the Fed chair said at a panel hosted by the IMF on Thursday. “We make these decisions at the meeting and we’ll make them meeting by meeting, but I would say that 50 basis points will be on the table for May.”