It’s Web3 Oscars! 🏆

Hi, lovely people 👋

What a spectacular week this has been. Bitcoin reached an all-time high of $73,000 for the first time. ETFs did $1,000,000,000 worth of trading volumes.  Dencun Upgrade has had a successful launch. And WIF 🐶 is packing its bags to reach Las Vegas. 

The crypto Twitter is going gaga. The institutions are going gaga. The governments are going gaga (though in a negative way) 😂

We decided why not present you with a very different Web3 Creator edition this week. 📸

#1 Best Performer: It’s Bitcoin. Who else? 🎉 

Bitcoin touched a new ATH and hasn’t yet undergone correction below $70K. 

It is reaching all-time highs against most currencies worldwide and is ready to touch 1 million Canadian dollars.  

It has left behind silver, which is the second most prized asset after gold. 

Institutions, individuals, and ETFs are trying to get their share of the pie in the limited Bitcoin supply. BlackRock alone is gobbling up 10,000 bitcoins per day. 

As a consequence, Bitcoin is quickly becoming depleted off exchanges. Trading volumes on exchanges hit $116.2 billion. 

The bull run has just started. All Hail, Bitcoin! 🙇

#2 Best Performer in a Supporting Role: Queen Ethereum 🎇

Ethereum is nearing another ATH, having crossed the $4,000 mark a few days back. 92.93% of the Ethereum addresses are in profit. 

The Dencun upgrade is successfully activated on the mainnet, and L2s will see better speed and lower transaction costs via data blobs now. The EIP-4844, or data blobs, is one of the 9 EIPs that were a part of the Dencun upgrade. 

The upgrade is a precursor to proto-danksharding, which will write a new chapter of scalability in Ethereum’s history. 

Here’s how the upgrade will affect the fees: 

#3 Top Popular Performer: It’s Memecoins 😂 

It’s 2021 all over again! 

Memecoins have a combined market cap of $64 billion and are trading $14 billion daily! 🤯

Many have generated triple-digit gains in a single week. Dogwifhat, Pepe, and Floki are the most popular ones. 

Solana has some of the funniest and most successful meme tokens. 

Elon Musk has again begun teasing the DOGE community. DOGE jumped 14% in the next few minutes when Elon Musk said Tesla might start accepting payment in DOGE soon. 

#4 Best Feature Film: The MicroStrategy Bitcoin Heist 🎞️

Michael Saylor’s MicroStrategy is trying to acquire as much Bitcoin as it can before it disappears from exchanges. After acquiring an additional 12,000 bitcoins with a $700 million debt, it is issuing a $500 Million Convertible Senior Notes Offering to Buy More Bitcoin! 

We know BlackRock has surpassed MicroStrategy in terms of Assets Under Management (AUM), but Saylor isn’t stopping. 

MicroStrategy’s shares are acting as pseudo-ETFs, given the large stash of bitcoins MSTR owns. 

#5 Best Ensemble Cast: The New Born Nine ETFs 👶

Bitcoin ETFs had a net inflow of over 9.6K bitcoins yesterday. 

The 10 ETFs together hold 831.6K bitcoin. BlackRock alone purchased 8.2K bitcoins worth 586 million. Fidelity brought $3.2K bitcoins. VanEck started seeing huge inflows after slashing its 0.20% ETF fee. 

Grayscale has lost its market dominance, which is already below 50% in terms of ETF AUM. Yesterday, alone GBTC bled 3.9K bitcoins! 

Bitcoin spot ETF volumes have surpassed $1 billion on a daily basis and ETFs aren’t slowing at all. 

#6 Best Song: The Bitcoin Song By Michael Saylor 🎶

This song is going to be the Bitcoin anthem for all Web3 parties for a long time now. The context: 

A news host asked Michael Saylor what Bitcoin does besides gaining value. 

Michael Saylor’s terrific reply was, “People who use fiat currency as a store of value, there's a name for them. We call them poor.”

The reply went viral on crypto Twitter, and Degens soon had a rap song ready. 🤣

#7 Best Comedian: French Journalist’s Talking about Bitcoin Halving 😂

The award goes to a French journalist talking about the approaching Bitcoin halving and explaining HOW HALVING WILL CUT BITCOIN PRICE IN HALF! 

All wits lost!

We bow to you, lady.

#8 Best Performer in a Negative Role: Gary Gensler 👿

We can never get enough of Gary Gensler’s antics. He is back with a new conspiracy of BItcoin being folklore. 

“The whole cryptocurrency field is rife with abuses and fraud. This is not that decentralized - that's part of Satoshi Nakamoto and the folklore of decentralization. They’re operating as a clearing house, a broker-dealer, and an exchange.”

This man used to teach Bitcoin and Blockchain at a reputed university once. 🤔

#9 Lifetime Achievement award: Unknown Reddit User 👏

A Reddit user’s post shared how he acquired $30,000 credit to invest in Bitcoin after reading about the technology.

Kudos for the belief in such an ermging tech 11 years ago!

What if the man still holds the bitcoins? 

#10 Best Advertising Meets Crowdfunding 📢

Have you heard about the Las Vegas Sphere? The Dogwifhat community is taking the meme-coin to the city and will display its ad on the Sphere. 

The community crowdfunded $682K against the target of $650K to fulfill the initiative.

What a time to be alive! 🙂

A few more updates you must know 

• El Salvador has slashed the 30% tax on international transactions to bring more BItcoin investment into the country. 

• Bitcoin has half a year before the ETF Liquidity crisis kicks in 

• Report: Data privacy and security concerns worry half the industry consumers 

• Hong Kong begins Phase 2 CBDC pilot 

• Crypto custody firm Bakkt faces delisting if shares stay under $1 

That’s a wrap. See you next week. 😎

Until then, tell all your friends about the Web3 Oscars. ;)