A decentralized social media altcoin is nosediving just days after gaining support from the top US crypto exchange platform. New data reveals that social media token DEGEN went from a weekly high of $0.011 to $0.008 since being adopted by Coinbase on October 15th, a 27% drop. According to DEGEN’s website, the digital asset is […]
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A memecoin built on the Ethereum (ETH) layer-2 scaling solution Base is up nearly 128% in the past 24 hours after being added to Coinbase’s listing roadmap. Degen (DEGEN) is trading at $0.009 at time of writing, up from around $0.004 one day ago. The memecoin, which launched on Base in January, serves as a […]
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This week, I had the opportunity to speak with Ace, the Japan lead for Phaver, a rapidly growing Web3 social platform. During our conversation, Ace shared insights into his journey into crypto, Phaver’s strategic focus on the Japanese market, the unique characteristics of Japanese crypto communities, and the challenges and opportunities facing blockchain projects in […]
Farcaster, the blockchain-based challenger of social media platform X, reportedly may introduce its own token. The Ethereum (ETH)-based decentralized social network Farcaster allows users to create profiles, make posts called “casts” and follow others. The platform also gives users the ability to store their data on-chain and showcase their non-fungible tokens (NFTs). According to Fortune, […]
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Farcaster, blockchain’s answer to traditional social media, raised $150 million in a Series A funding round led by Paradigm, sending a community token soaring.
Farcaster community-created token Degen (DEGEN) jumped 17% after the blockchain-based social platform confirmed it raised $150 million in its latest funding round.
The Series A round was led by venture firm Paradigm with participation from Andreessen Horowitz, Haun, USV, Variant and Standard Crypto. Farcaster founder Dan Romero said in a May 21 X post the funds will “support our work on Farcaster for many years.”
Romero, a former Coinbase executive, first hinted at the funding round on Warpcast in March but didn’t share any further details at the time.
Farcaster, a decentralized social media platform leveraging the Ethereum blockchain and Optimism’s Layer two ecosystem, has successfully raised $150 million in a funding round led by Paradigm, bringing its valuation to $1 billion. The funds will be used to sustain the project’s development, focusing on growing its user base and enhancing developer tools, after the […]
The average value transacted on Degen Chain is rather small at $0.27, however, compared to Ethereum and Base at $1,867 and $170, respectively.
Degen Chain, a new Ethereum layer-3 network, has recorded the highest transaction per second (TPS) count in the Ethereum ecosystem over the last 24 hours.
Degen’s TPS count increased 62% over the last day to notch 35.7 TPS — beating out the blockchain it was built on, Base, at 29.7 TPS, according to L2BEAT.
Arbitrum One, Ethereum and zkSync Era rounded out the top five.
Merkle Manufactory, a Los Angeles-based software company behind the Farcaster decentralized social networking protocol, is reportedly nearing the conclusion of a funding round with a $1 billion valuation. Bloomberg, citing “people with knowledge of the matter,” reported the billion-dollar valuation and noted that the crypto investment firm Paradigm is leading the round. Merkle is behind […]
The post Firm Behind Crypto Project Founded by Former Coinbase Executives Hits $1,000,000,000 Valuation: Report appeared first on The Daily Hodl.
A former executive from top US crypto exchange Coinbase has raised funds for a new decentralized social network protocol. In an announcement on his website, former Coinbase vice president Dan Romero says that Farcaster, a protocol for building social networks, has secured funding from a series of venture capitalists. According to the announcement, the $30 […]
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