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ltimate source for Web3, Blockchain, and Crypto news

, $4,087,100,630, and $2,887,780,063, respectively.output: Welcome to your go-to source for all things Web3, Blockchain and Crypto! Our Weekly report dives into the freshest updates and game-changing developments in the fast-paced world. We curate the best data from trusted sources to keep you ahead of the curve. Ready to stay informed and inspired? Let’s explore the latest trends and insights together. 

1. Web3, Blockchain & Crypto Breaking News This Week

Here are this week’s major breaking news reports related to Web3, Blockchain, and crypto that you should never miss. 

The United States Supreme Court unanimously decided that courts must determine which contract takes precedence when multiple agreements exist, ruling against Coinbase in a dispute over a 2021 Dogecoin sweepstakes.

The US House passed the CBDC Anti-Surveillance State Act, blocking the Federal Reserve from directly issuing digital currencies, aiming to prevent potential surveillance of American citizens. 

The Financial Innovation and Technology for the 21st Century Act passed with bipartisan support, providing legal clarity on the classification, registration, and custody of crypto assets, moving away from the SEC’s enforcement-led regulation.

The Trump campaign will now accept cryptocurrency donations, making it the first major party presidential campaign to do so, aligning with its agenda of prioritizing freedom over government control.

Polimec, a decentralised funding protocol, was launched on Polkadot. It aims to transform Web3 project fundraising by providing a transparent, regulatory-compliant platform for connecting investors with startups globally.

A UN report revealed North Korean hackers funnelled millions in stolen cryptocurrency through Tornado Cash last year. The Lazarus Group transferred $147.5 million taken from crypto exchange HTX in 2023. 

1.1. This Week’s Web3, Blockchain & Crypto Special News Report You Can’t-Miss

The SEC approves spot Ether ETFs for trading on national exchanges. Recently, Ethereum saw a boost in its price from $3,100 to a peak of $3,930. This followed experts’ approval prediction. Bitcoin also surged to $72,000. However, both cryptocurrencies dropped due to high volatility before the approval and struggled to recover. The price of Ethereum at present, on 25th May 2024 (8:30 AM GMT-4), stands at $3,741.22, and Bitcoin’s price is $69,273.19. Despite the approval, it may take weeks for an Ether ETF to go live, meaning the full impact on the crypto market will be realised later.     

2. Blockchain Weekly Analysis 

The weekly blockchain analysis covers the blockchain dominance analysis and 7-day change analysis. To clarify, the Layer 1 chains and Layer 2 chains are analysed separately. 

2.1. Blockchain Dominance Analysis 

Ethereum, TRON, BNB Smart Chain, Solana, and Arbitrum One are the top five blockchains as per dominance and TVL.  

Ethereum dominates the blockchain sector with 64.3%. TRON and BNB Smart Chain follow with 8.81% and 5.49%, respectively. Solana displays 4.74% dominance, and Arbitrum One shows 3.05% dominance. 

2.1.1. Top Five Layer 1 Chains By Dominance  

Ethereum, BNB Smart Chain, Solana, Bitcoin and Avalanche are the top five Layer 1 Blockchain by dominance and TVL. 

In the layer 1 chain segment, Ethereum dominates with 80.74%. BNB Smart Chain and Solana follow with 6.89% and 5.94%, respectively. Bitcoin records 1.46% dominance, and Avalanche registers 1.26% dominance. 

2.1.2. Top Five Layer 2 Chains By Dominance 

Arbitrum One, Blast, Base, Polygon POS, and Optimism are the top five Layer 2 Blockchains based on dominance and Total Value Locked. 

In the layer 2 chain segment, Arbitrum One dominates with 29.79%. Blast and Base closely follow with 18.61% and 16.74%, respectively. Polygon POS shows 9.58% dominance, and Optimism displays 5.52% dominance. 

2.2. Blockchain 7-Day Change Analysis

Let’s analyse the top five Layer 1 chains using the 7-day change index. 

Among the top five layer 1 blockchains by TVL, only one shows a negative 7-day change. BNB Smart Chain displays the negative 7-day change of -9.7%. The highest 7-