GizmoLab Report: Cutting-Edge Developments in Web3📈

A Quick TL;DR:

- Pump.fun Reveals Pro-Trading Terminal, Token Launch Coming Soon

- Vitalik Buterin’s Ethereum Roadmap Targets Decentralization

- KERORO Meme Coin Debuts on Solana with $4.5M Market Cap

- U.S. Attorneys Call on Biden to Free Binance Exec Held in Nigeria

- Bitcoin Miners Split Between Holding Bitcoin and AI Shifts

- Ethereum Flag Raised at Wall Street, Marking a Key Moment for Crypto

Solana-Based Pump.fun Unveils Pro-Trading Terminal and Token Launch Plans to Reward Early Users

Pump.fun, a meme coin platform built on Solana, has announced plans to launch a native token to reward its early users, while also unveiling an advanced trading terminal, Pump Advanced. During an X-Space session on October 19, the team confirmed that a portion of the token supply will be airdropped to early adopters, though no specific timeline was provided. This has sparked excitement within the community, with hopes that a well-targeted airdrop could significantly enhance liquidity. Some analysts suggested that the airdrop should focus on top traders and developers using metrics such as trading volume. Alongside the token launch announcement, Pump.fun introduced Pump Advanced, a professional trading terminal offering features like live charts, top holder stats, real-time social activity threads, and enhanced filters.

A standout feature is the terminal's integration with non-custodial wallets through the Privy authentication platform. For the first month, users will benefit from zero fees on trades, after which fees will be implemented. Pump.fun continues to thrive in the competitive meme coin landscape, with nearly 100,000 daily active addresses and over 31,000 tokens launched on its platform, according to Dune Analytics. In the past day alone, the platform generated $2 million in revenue, cementing its strong performance against rivals like Tron’s SunPump network. With its upgraded interface and forthcoming token, Pump.fun aims to attract more professional traders while rewarding its early supporters.

Vitalik Buterin Publishes "Possible Futures of the Ethereum Protocol, Part 3: The Scourge," Focusing on Reducing Centralization Risks

Vitalik Buterin has released "Possible Futures of the Ethereum Protocol, Part 3: The Scourge," the latest installment in his roadmap for Ethereum's development. This part of the roadmap highlights key goals centered around reducing centralization risks in Ethereum's staking layer and block construction process. The publication outlines steps to address the bottlenecks created by centralized block construction and economic factors that contribute to staking centralization. One of the main issues Buterin addresses is Ethereum’s current minimum staking requirement of 32 ETH, which has been criticized for limiting participation due to its high cost. Additionally, the hardware requirements for running a validator node create further barriers to decentralization. By solving these challenges, Buterin believes Ethereum can develop more robustly as a decentralized network. Buterin's vision extends to minimizing the extraction of excessive value from users within the Ethereum ecosystem, aiming for a more balanced and user-friendly network. By tackling these challenges, the Ethereum protocol could potentially open up opportunities for greater participation and drive a more decentralized future. This focus on decentralization aligns with Ethereum’s long-term goals of remaining a secure, trustless, and widely accessible blockchain platform. For more details, the full article is available at Vitalik's blog.

KERORO Meme Coin Launches on Solana Blockchain with an Initial Market Cap of $4.5 Million

KERORO, a new meme coin built on the Solana blockchain, officially launched today with an initial market cap of $4.5 million. This debut positions KERORO within the competitive meme coin market, leveraging Solana’s high-speed and low-cost transaction capabilities to create a dynamic, community-driven project. Inspired by the iconic character known for its charm and cultural significance, KERORO aims to redefine the meme coin narrative with a focus on creativity, fun, and community engagement.

The project highlights its community-driven mission, aiming to bring together a vibrant group of supporters who resonate with the coin’s cultural and humorous appeal. By tapping into Solana's advanced technology, KERORO ensures fast, secure, and cost-effective transactions, enhancing its competitiveness within the meme coin ecosystem. Since its launch, KERORO has garnered significant attention, and its market cap is expected to grow as the coin gains more traction among investors. It is currently available for trading on several major Solana-based exchanges, including Jupiter, Bullx, and Raydium. As KERORO continues to gain popularity, the team expects its market value to rise in the coming weeks.

U.S. Attorneys Urge President Biden to Help Secure Release of Binance Executive Tigran Gambaryan Detained in Nigeria

A group of 18 state attorneys general has appealed to President Joe Biden to help free Tigran Gambaryan, a Binance executive detained in Nigeria since February 2024. Concerns over Gambaryan's well-being escalated on October 18, when his illness prevented him from appearing in court. The attorneys have urged Biden to designate Gambaryan as a hostage under the Robert Levinson Hostage Recovery and Hostage-Taking Accountability Act, citing the unlawful nature of his detention and deteriorating health. The letter, led by Attorney General John Formella, highlights the violation of Gambaryan's rights and emphasizes the U.S. government's duty to advocate for its citizens abroad.

His hearing, postponed due to his health, is rescheduled for October 25. Gambaryan was arrested over allegations connected to Binance's role in Nigeria's currency crash and possible financial crimes involving $34 million. However, U.S. lawmakers argue that Gambaryan is being wrongfully held, possibly as a tactic to extort Binance. Disturbing footage of Gambaryan, released in September, shows him struggling to walk without assistance, drawing criticism from Binance CEO Richard Teng, who called his treatment "inhuman" and demanded his immediate release for medical care. The situation has sparked diplomatic pressure, with U.S. representatives seeking to label his detention a "hostage situation."

Bitcoin Miners Diverge Between Holding Bitcoin and AI Shifts Following Halving Event

Six months after Bitcoin's halving event, which cut mining rewards by 50%, the crypto mining industry has split into two main strategies: holding mined Bitcoin or shifting toward artificial intelligence (AI). Major miners, including MARA Holdings and Riot Platforms, are choosing to hold their Bitcoin, anticipating a price surge. Despite Bitcoin's rise of over 60% this year, MARA and Riot’s stocks have fallen by 20% and 36%, respectively, as these companies borrow money or issue shares to avoid selling too early. Meanwhile, some miners are turning to AI to diversify their revenue.

Core Scientific, which emerged from bankruptcy in January, upgraded its data centers to handle high-performance computing for AI, boosting its stock significantly after deals with CoreWeave. Similarly, TeraWulf and other AI-focused miners have seen their stocks rise as they invest in AI data centers. However, concerns persist about whether Bitcoin miners can fully commit to AI, given its costs and the potential for declining interest. Many miners betting on a Bitcoin price surge may profit if prices rise, but face disaster if they fall, as noted by Luxor Technology’s COO, Ethan Vera. Despite these challenges, analysts like Paul Golding of Macquarie Capital USA believe Bitcoin mining still holds value in the current market.

Ethereum Flag Raised at Wall Street: A Symbolic Milestone for Cryptocurrency's Growing Role in Finance

In a historic moment for the financial sector, Ethereum’s flag was raised at Wall Street, symbolizing the increasing acceptance of blockchain technology in traditional finance. Ethereum, the second-largest cryptocurrency, has played a central role in the blockchain ecosystem since its 2015 launch, notably through its smart contract functionality. These self-executing contracts have paved the way for decentralized applications (dApps) and decentralized finance (DeFi), transforming industries from finance to supply chain management. Wall Street's acknowledgment of Ethereum represents a broader trend of institutional acceptance of cryptocurrency.

Financial institutions are exploring the potential of blockchain to enhance transparency, reduce transaction costs, and create new products. The Ethereum flag’s presence signifies Wall Street’s recognition of the cryptocurrency's impact and hints at a future of closer collaboration between traditional finance and digital assets. With Ethereum 2.0’s upcoming transition, aimed at boosting scalability and sustainability, there’s substantial potential for further integration and innovation. This symbolic gesture may mark the start of greater institutional participation in cryptocurrency markets, offering new opportunities for both retail and institutional investors. Ethereum’s presence on Wall Street points to a future where digital assets and blockchain technology have a foundational role in global finance.

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