Welcome, Crypto enthusiasts!

ADA lost it’s top 10 rank to Memecoins while some are saying the crypto industry will reach 200 Trillion in a decade 👀 

In Today’s Blockstreet Journal:

• MemeCoin’s Replace ADA

• Crypto To 200T?

• Market Rundown

• Top Gainers & Losers

• Airdrops More News

Latest News

CARDANO
🫣 Memecoin’s Replace Cardano  

Word On The Street: The recent surge in memecoin popularity has led to significant shifts in the crypto market rankings, with Shiba Inu surpassing Cardano in market capitalization to enter the top-10 list.

The details:

• As a result, Cardano, which once held the third spot during the 2020-21 bull run, has now fallen to 11th place.

• Shiba Inu boasts a market cap of $16.4 billion, slightly ahead of Cardano’s $16.3 billion.

• Cardano currently trades at $0.45, a significant drop of over 80% from its peak of $3.10.

Why it matters: During a period where Bitcoin and most altcoins have shown stagnant or negative growth, memecoins have not only flourished but have soared to new heights, with six of the top 10 gainers in the last 24 hours being memecoins.

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MARKET OPINION
🤔 Could Crypto Be 200 Trillion? 

Word On The Street: Yat Siu, co-founder of Hong Kong-based game software company and venture capital firm Animoca Brands, predicts a dramatic surge in the value of the global cryptocurrency ecosystem. According to Siu, the market could expand by up to 200 times within the next decade.

The details:

• "In the near term — within 12 to 18 months — we can conceive of a doubling or tripling of the space." - Siu

• Siu further projected, "Over a five or 10-year period, I'm expecting the space to accelerate, 100 to 200 times — to $200 trillion — or even bigger. I think we could reach that kind of number within a decade."

• Siu attributes this potential explosion in market value to the burgeoning number of digital property owners within the Web3 ecosystem.

Why it matters: Siu's bullish outlook extends to Bitcoin, the largest cryptocurrency by market value, which he believes will one day reach $1 million. As of now, Bitcoin's market value stands at $1.3 trillion, with its current trading price at $67,750 — substantially lower than Siu's ultimate forecast.

Market Rundown

Fear & Greed Index

The global crypto market cap is $2.53T, a 0.72% decrease over the last day.

The total crypto market volume over the last 24 hours is $87.03B, which makes a 10.86% decrease. The total volume in DeFi is currently $6.63B, 7.62% of the total crypto market 24-hour volume. The volume of all stable coins is now $81.08B, which is 93.16% of the total crypto market 24-hour volume.

Bitcoin’s dominance is currently 52.53%, an increase of 0.05% over the day.

Global Market Metrics

As of today, the current state of the cryptocurrency market is as follows:

- Total Market Capitalization: Approximately $2.53 trillion USD

- Total 24-hour Volume: Approximately $87.03 billion USD

- Number of Active Cryptocurrencies: 10,068

- Number of Active Market Pairs: 83,350

- Number of Active Exchanges: 772

Market Dominance

- Bitcoin (BTC) Dominance: 52.53%

- Ethereum (ETH) Dominance: 17.91%

DeFi and Stablecoins

- DeFi Market Capitalization: Approximately $95.77 billion USD

- DeFi 24-hour Volume: Approximately $6.63 billion USD

- Stablecoin Market Capitalization: Approximately $154.63 billion USD

- Stablecoin 24-hour Volume: Approximately $81.08 billion USD

Derivatives

- Derivatives 24-hour Volume: Approximately $647.83 billion USD

Market Changes (24-hour)

- Total Market Cap Change: Decreased by 0.80%

- Total 24-hour Volume Change: Decreased by 11.07%

Top Gainers & Losers

🚀 Top Gainers

💩 Top Losers 

Airdrops & More News

DAILY AIRDROP
📦️ Parcle Community Airdrop

Parcl is airdropping 75,000,000 PRCL tokens to users who interacted with the platform and collected points. Users who have traded, provided liquidity, referred users and collected at least 6,000 points are eligible for the airdrop. HOA NFT holders and Mad lads NFT holders are also eligible for the airdrop. Eligible users have until December 31st, 2024, to claim the tokens.

Step-by-Step Guide:

1. Visit the Parcl airdrop claim page.

2. Click on “Start Claim” and connect your Solana wallet.

3. If you’re eligible, then you will see the number of points you’ve collected.

4. Click on “Review My Contributions” to see your activity and then click on “Redeem Points For $PRCL” to claim your tokens.

5. Users who have traded, provided liquidity, referred users, and collected at least 6,000 points are eligible for the airdrop.

6. HOA NFT holders as of April 11, 2024, and Mad Lads NFT holders as of April 5, 2024, are eligible for the airdrop.

7. Eligible users have until December 31st, 2024, to claim the tokens.

8. New users can still be eligible for future airdrops by collecting points on Parcl. To be eligible, follow the below steps.

9. Now go to “Liquidity” and provide liquidity.

10. You will need USDC to provide liquidity.

11. Go to your profile and create a trading account.

12. You will need to deposit USDC to your trading account to be able to trade.

13. Now go to the markets and make long or short trades.

14. Traders will earn 1 point per day per 1 USDC and 3 points per day per 1 USDC for LP deposits.

15. Also, earn 10% of the points earned by each person you refer.

16. For more information regarding the airdrop, see this article.

Other News

BlackRock Takes the Crown for the Largest Spot Bitcoin ETF From Grayscale. Inflows to IBIT have picked up recently after a dismal few weeks at the end of April. BlackRock now holds the ETF in one of its major funds.

Cathie Wood’s ARK Invest pours $60M into Elon Musk's AI venture. Cathie Wood’s ARK Invest has committed $60 million to Elon Musk’s xAI startup, demonstrating the firm's confidence in its potential amid a surge in AI investments.

Ripple $25 million crypto education contribution amid rising importance in 2024 election. A new survey has shown that that crypto would be a major political issue at the forthcoming US elections.

PayPal expands PYUSD to Solana, targets payment use cases. PayPal’s PYUSD stablecoin is now available on Solana and Ethereum, offering a chain-agnostic experience for its users.

🫡 Thanks For Reading

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