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A16z crypto’s CTO Eddy Lazzarin lambasted memecoins, saying they undermine crypto’s “long-term vision,” tarnish “how the public, regulators, and entrepreneurs” view the industry and serve as a casino “to a relatively small population.”6th Man Ventures co-founder Mike Dudas came to the defense of memecoins, which collectively have a market cap worth tens of billions of dollars.
Bitcoin traders remain unfazed while BTC price action follows stocks downward on the back of surprise U.S. macro data.
Industry professionals are increasingly doubtful about the chances of approval for ether spot ETFs by the SEC in May, according to Reuters.The price of ether has fallen by over 5.5% in the past 24 hours, according to The Block’s Price Page.
Bitcoin mining difficulty rose 2% to reach a record 88.1 trillion on Wednesday in the first adjustment after last week’s halving event. It is the first time Bitcoin mining difficulty has increased immediately following a halving amid increased transaction fee rewards related to the hype surrounding Runes.