Friend.tech has launched version 2 of its blockchain-based social platform with new features and anticipation for a 100% airdrop of its FRIEND token.

The SPX index is down 1.6%, driven by a rise in bond yields following higher-than-expected employment cost data, raising concerns that the Fed might maintain higher interest rates. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 6.02% and 6.79%, respectively in the past 24 hours.

Today’s outperformer is FRONT, which jumped 4.6% after Frontier Wallet enabled secure cross-chain asset swaps to Cronos Chain with XY Finance.

Frontier (FRONT), founded in 2019, is a multi-chain DeFi and NFT wallet that supports over 65 blockchains and enables secure trading, staking, and asset management through a single interface. It integrates with top wallets via WalletConnect and simplifies the user experience by minimizing the need for multiple extensions and seed phrases. Frontier Wallet now 

 cross-chain asset swaps to Cronos Chain via XY Finance, enabling secure bridging to $CRO from over 20 blockchains. Users can also participate in the Spring Odyssey event, promising enhanced on-chain experiences with Frontier.

Check Out the Latest Prices, Charts, and Data of 

 for Bitcoin’s Lightning Network in partnership with Lightspark, offering users instant, low-cost Bitcoin transactions as an alternative to the slower, more expensive traditional Bitcoin network. This integration supports Coinbase's goal of creating a global payments system with transactions costing just one cent and processing within one second. The Lightning Network, operational since 2017, significantly reduces transaction costs compared to traditional finance methods, such as credit cards and wire transfers. This move not only enhances the utility of Bitcoin for Coinbase's customers but also advances the broader crypto ecosystem by supporting faster, more affordable, and more secure global payments.

After the debut of Hong Kong's first spot Bitcoin ETFs, Bitcoin's price fell below $61,000, with concerns it could drop further below $60,000. The launch triggered a "sell-the-news" reaction, contributing to a downward trend and negative net flows in U.S. Bitcoin ETFs. This situation poses risks but may also present a buying opportunity for long-term investors.

 version 2 of its blockchain-based social platform with new features and anticipation for a 100% airdrop of its FRIEND token. The company has already taken a snapshot for the airdrop, which may occur as soon as next week when points balances become blockchain-based. Friend.tech, which debuted in August 2023 on Base, a Coinbase-incubated Ethereum Layer 2, had initially seen significant activity but later experienced a decline. The latest update introduces the Money Club for managing community treasuries and minting tradable collectibles, a new points system for the airdrop, and custom engagement metrics. Additionally, version 2 allows users to customize their chat spaces. The platform currently has $34.4 million in total value locked, down from its peak of $52 million.

Beginner

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Friend.tech Launches Version 2 and Announces Airdrop

Learn how you can import your mnemonic phrase for Bybit Wallet with our comprehensive article.

For new users, it's recommended that they familiarize themselves with the wallet's basic operations, understand its features and characteristics, and then start using and importing mnemonic phrases.

If you haven't installed Bybit Wallet yet, please click 

After installation, you can pin the Bybit Wallet to the toolbar through the following steps:

 icon in the upper right corner of your browser, and the Bybit Wallet will pop up the initialization interface.

Before using your Bybit Wallet, please set a password first. This password is used to unlock your wallet and encrypt your key information. The local password will not be uploaded to our server, so please keep it carefully. Once lost, the password cannot be retrieved.

After entering the password, please check the 

If you are already using Bybit Wallet, then you only need one step to import your mnemonic phrase.

Please click on the wallet address to enter the wallet management page:

Next, enter the device password you created for the wallet and click 

After setting the local password, please select 

If your mnemonic phrase length is 12, you can click the 

 input box and paste it directly. Of course, you can also manually enter them one by one.

In addition, we also support mnemonic phrases of different lengths, which are 12-, 15-, 18-, 21-, and 24-word mnemonic phrases, all of which can be imported into Bybit Wallet. Please choose the one that suits you.

 button to import. Bybit Wallet will search for the wallet address that has assets under the mnemonic phrase and automatically import it into Bybit Wallet.

At this point, the mnemonic phrase has been successfully imported into Bybit Wallet.

In the import wallet interface, you can also choose to import the wallet using your private key. Just click 

, then enter your private key in the input box, and then click 

Now, you can start using Bybit Wallet to your heart's content. Remember to update your wallet regularly to get the latest features and optimizations. We are always working hard to improve and enhance the user experience of Bybit Wallet. If you have any suggestions or feedback, feel free to let us know any time.

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How to Import Your Mnemonic Phrase for Bybit Wallet

Today’s outperformer is ENA, which jumped 7.3% after Ethena's synthetic dollar launched on Swell L2 with rewards and airdrops in pre-launch phase.

The SPX index is up 0.32%, the Federal Reserve is expected to maintain borrowing costs, but investor focus will be on any changes in rhetoric after recent high inflation data. Market expectations for rate cuts this year have decreased, with only one 25 basis point reduction now anticipated, compared to three a month ago. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 1.23% and 4.01%, respectively in the past 24 hours.

Ethena Labs (ENA), founded in 2023, introduces USDe, a synthetic dollar on Ethereum, offering a decentralized alternative to traditional stablecoins. It features the 'Internet Bond' for global savings, using delta-hedging to manage volatility and aiming to transform the financial ecosystem by enhancing Ethereum's utility. Recently, $USDe is now available on 

. By depositing $USDe during the Pre-Launch phase, users can earn Sats, qualify for a Season 2 airdrop upon the L2 launch, receive additional airdrops from projects on Swell L2, and share 1 million EigenLayer Points. For more details, visit the Swell Network website.

Omnity has launched a new integration that allows for the fee-free trading of Runes tokens without impacting the Bitcoin network. This 

 utilizes the Internet Computer Protocol's chain fusion technology, enabling interactions with the Bitcoin blockchain and other networks without the need for wrapped tokens or off-chain relayers. The initiative, which distinguishes Omnity from other Bitcoin interoperability solutions, aims to address the scalability challenges of the Bitcoin network, particularly in light of increased activity from new technologies and Bitcoin ETFs. On April 20, the Bitcoin network hit a record high of over 926,000 transactions, with Runes tokens constituting a significant portion of this traffic.

Bernstein analysts believe the recent decline in Bitcoin ETF flows is temporary and predict a bullish future with a $150,000 BTC price target by 2025. They remain optimistic about Bitcoin's integration into financial platforms and its long-term acceptance. Additionally, they suggest that a denial of an Ether ETF could benefit Ether and Ethereum Layer 2 tokens. The firm expects the crypto market cap to triple to $7.5 trillion within two years.

 plans to distribute EIGEN tokens via airdrop from May 10 to September 7, targeting users who participated in Ethereum restaking on the EigenLayer protocol. The initial distribution, termed a "stakedrop," will allocate 5% of the total token supply based on activities as of March 15. The airdrop is divided into two phases, with 90% of tokens going to initially eligible users and the remaining 10% to those who interacted with EigenLayer in more complex ways. However, the airdrop excludes users from several countries, including the US and Canada, and implements strict measures to block VPN and proxy users. Future airdrops will reserve an additional 15% of the token supply. The EIGEN token, designed to address specific protocol faults, will initially be non-transferable and non-forkable to support the protocol's growth, with full functionality enabled later.

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Ethena’s USDe Launches on Swell’s Layer 2 Network

cat in a dogs world (MEW) is a no-utility, cat-themed meme coin built on Solana challenging the dominance of dog-themed coins in the crypto space.

The world of meme coins is wild and filled with all types of animals, such as dogs, cats, penguins and frogs. In 2024, the meme coin craze is back in full swing, evidenced by the astronomical gains made by top crypto meme coins like 

During this meme coin season, Solana-based meme coins have stolen the show with dog-themed tokens dominating the space. However, a recent cat-themed meme coin is seeking to challenge this dog-themed coin narrative.

cat in a dogs world (MEW) stormed into the meme coin space on Mar 27, 2024, and has been causing a stir with its remarkable price surge. Upon listing, MEW’s price soared by 385% to reach an ATH of $0.0097 within four days.

Let’s explore the MEW coin and find out why it’s one to watch in the thriving 

cat in a dogs world is a no-utility, cat-themed meme coin built on Solana (

It was launched on Mar 27, 2024, to provide a cat-themed token that would be a worthy competitor to the dog-themed meme coins dominating the space.

Barely 96 hours into the market, MEW had pumped by 385% to hit a price of $0.0097, during which its market capitalization reached around $848 million, a figure reserved for more established projects in the market such as 

MEW’s market cap has since shrunk to a more conservative figure of $357 million, with a 24-hour trading volume of $59 million on Apr 30, 2024. It’s currently trading around $0.004.

cat in a dogs world has a total/max supply of 88,888,888,888 tokens, of which 90% were burned as 

, while the remaining 10% were allocated as an 

MEW’s formidable success could be attributed to its tokenomics strategy, as burning most of the LP tokens creates a stable price floor and cushions the token against market volatility. The airdrop is also an excellent way to attract attention to the project and create brand awareness, further solidifying MEW's presence on Solana and in the cryptocurrency market as a whole.

Deliberately airdropping and burning the LP tokens enhances the value of the MEW token, while giving it a competitive advantage in the cutthroat world of meme coins.

Cat meme coins have been generating a lot of hype lately. Let's look at a brief comparison between MEW and two other cat-themed coins in the meme coin space.

 (CATS) have caused a stir in the meme coin space. Not only are they both trying to change the dog-eat-dog landscape, but they’ve also approached the market in an innovative way.

That said, unlike MEW, CATS has various utilities in its ecosystem, such as 

. Catcoin’s ecosystem is also filled with a variety of products, such as the Caring Cats charity and a non-fungible token (

) collection. While the two tokens entered the meme coin space at different times, they’ve both managed to draw attention to feline-themed meme coins.

 (OMNI), caused a stir when its price quickly soared after the coin’s debut in December 2023. However, unlike MEW, which is only available within the Solana ecosystem, Omnicat leverages omnichain technology and is available on seven blockchains, including 

While it may be a meme coin, Omnicat leverages 

’s blockchain in order to advance its mission of interoperability in the crypto space. Both MEW and Omnicat have adopted innovative approaches that seem to have paid off despite their meme coin narratives.

You can buy MEW Cat Coin on Bybit as a Spot pair (MEW/USDT) or a USDT perpetual contract (MEWUSDT). To celebrate this Spot listing, Bybit is holding two Token Splash events, 

, with 40 million MEW tokens up for grabs.

, is exclusively for new users, with a prize pool of 25 million MEW. By completing Identity Verification and accumulating a deposit volume of 25,000 MEW (worth 100 USDT), or depositing 100 USDT and trading 100 USDT worth of MEW tokens via your first trade with Bybit, you’ll have a chance to receive 5,000 MEW. Rewards are available on a first-come, first-served basis to the first 5,000 new users.

, has 15 million MEW tokens up for grabs. Simply trade at least 1,000 USDT worth of MEW tokens on Bybit’s Spot market to earn a share of the prize pool. 

Rewards will be capped at 200,000 MEW (around 800 USDT) per user.

While it’s primarily been a dog-eat-dog world in the meme coin space, tokens such as MEW are effectively diluting this narrative. Being one of the top-ranking Solana meme coins, the MEW cat-themed coin has followed others in the ecosystem by skyrocketing in price within a short time of entering the market, flooding Solana with much-needed liquidity.

Despite its slowed momentum — generally attributed to the currently fluctuating price of Bitcoin (

) — MEW remains a Solana cat-themed meme coin to watch when the market starts rallying again.

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cat in a dogs world (MEW): Pouncing on the Cat Meme Coin Craze

Blockchain

Bitcoin

Bitcoin mempool refers to a waiting room that collects a valid pending (unconfirmed) transaction until it is processed & added to the block. But how long do you have to wait?

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Bitcoin is a cryptocurrency network that enables users to send and receive electronic payments anywhere in the world. There are no physical bitcoins, nor are there accounts in which bitcoins are held. Instead, Bitcoin acts as a form of electronic cash, and users can make peer-to-peer (P2P) transactions using the Bitcoin blockchain, which acts as a kind of electronic ledger. The blockchain is constantly updated by nodes, which share updated balances and data across the network. However, before transactions can be added to the blockchain, they must go to the mempool.

Before we reach the mempool, let’s understand how a Bitcoin transaction works. All bitcoin transactions are simply pending transactions and only exist in the mempool before it’s confirmed. Whenever a user initiates a bitcoin transaction, it’s signed cryptographically and sent to the Bitcoin network waiting for a miner to verify the transaction and add it to the blockchain. Every verified transaction is publicly available and accessible on the public ledger as a means to transparently record and distribute to the ledger of each Bitcoin transaction without being able to be manipulated.

 makes decentralization possible, but it has its limitations. For example, the Bitcoin network processes about 4.6 

 or TPS. Compare this to VisaNet, which processes 

. While some adaptations are possible to improve the scalability of blockchain technology, the system continues to be comparatively slow, which has led to high fees and occasional delays, particularly during periods of heavy transaction volume.

The blockchain was originally designed to allow Bitcoin to operate without banks, governmental oversight, regulatory agencies or other central authority. While Bitcoin doesn’t need external authorities to operate, it still needs to be capable of verifying transactions, which it does through cryptographic keys.

Bitcoin’s public-key cryptography act as identification for users, enabling them to access their wallets or accounts, and mainly to ensure the integrity of the transactions. Every user has a private key for their own use and a public key that’s visible to everyone on the system. Together, these keys act as a digital signature to authenticate transactions.

When two users reach an agreement about a specific transaction, the next step is authorization. Each transaction must be authorized before it can be added to the blockchain. This is done through consensus, which means that all the decentralized parties like the network’s computers, or 

 need to agree objectively that the transaction is authorized and valid. The owners (miners) of the nodes are incentivized to verify an unconfirmed transaction through the 

, or PoW, which requires them to solve cryptographic problems, or complex mathematical puzzles.

Once this problem is solved, the transaction is verified and can be added to the block. When the Bitcoin block is filled, it is added to the blockchain termed as finalization, and the next block is opened.

The mempool, or memory pool, is a virtual waiting room where it collects valid a pending transaction until a miner processes them to be added in the next block. 

Each node maintains its own mempool, and each node has its own storage capacity for unconfirmed transactions. When a transaction is confirmed and included in a block, it is removed from the mempool. 

Nodes share the mempool data by relaying the signed transactions from one another until it reaches the entire network. When an overall mempool reaches full capacity during periods of high transaction volume, the node prioritizes transactions judging on the bid 

 that are above the threshold fees. Any transactions that a lower than the threshold fees will be removed from the mempool and only newer transactions with fees that meet the minimum are added back into the mempool. In other words, higher fee transactions are prioritized to be processed and cleared from the mempool and to be added into the block.

The Correlation Between Bitcoin’s Mempool and Transaction Fees

If we think of the mempool as a waiting room, when it’s congested, there will be a high transaction volume waiting to be cleared. Typically, transactions move smoothly in and out of the mempool as they’re verified and added to the block, but occasionally, the mempool can become congested.

Periods of congestion can usually be traced to either a high volume of transactions or the trade hash decreasing abruptly. During these periods, the mempool becomes congested, and delays can occur, resulting in an increase in fees.

The term “trade hash” refers to blockchain mining difficulty. There may not be enough miners to handle the complexity or congestion of the blockchain at that moment. Therefore, some transactions must wait longer to be confirmed.

Each Bitcoin transaction sits in the mempool until it’s ready to be confirmed, but there is no single, overarching mempool. Every node has its associated mempool, and by default, the mempool typically does not exceed 300 MB.

When the mempool is congested, users have the option of paying higher fees, which can push their transactions to the front of the line for faster confirmation. On the other hand, the lower fee transactions will stay in the mempool, where they’ll remain unconfirmed until the congestion clears. Similarly, during times of minimal congestion when transaction volume is low, fees are correspondingly lower. Once a transaction is picked up and added to a confirmed block, it’s removed from the mempool.

You can check your BTC transaction status 

Understanding the Mempool Size and Transaction Count

The mempool size in bytes is a metric to estimate how long the congestion will last while the mempool transaction count chart offers a clear display of the influx of transactions that are causing congestion. The bigger the mempool size usually translate to a more congested network which will result in a longer average confirmation time and higher priority fees is required for the transactions to be added to the block. However, if the mempool size drops, it means a node has received a new valid block and ended up removing the pending transactions which are contained in the block from the mempool. 

Typically, the mempool size can fluctuate as it depends on the number of transactions that are being relayed. Since each node also has its own rendition of pending transactions depending on its capabilities to store unconfirmed transactions, this also explains why the mempool size varies.

 increases, it means the total number of unconfirmed transactions in the mempool is surging. Thus, a higher fee is incurred. For example, on October 4, 2021, Bitcoin’s mempool contained 4.25k of pending transactions, and the average transaction fee was $2.45. Compare this with October 25, 2021, when the mempool size reached a high of 6.6k transactions, with an average transaction fee of $3.09.

What to Do if There’s an Overload of Transactions?

During times of peak traffic, the Bitcoin network can end up with a significant backlog of transactions, increasing wait times and driving up transaction fees. When demand outpaces supply, miners have considerable leeway in choosing which transactions they’ll process first. In scenarios such as these, even those who have paid generous fees may be waiting longer than expected.

, including the fact that Bitcoin’s blockchain is not easily scalable — which means that it’s also easily overloaded. When dealing with periods of high congestion, you have the option of just waiting it out, or switching to the 

 to complete smaller transactions off the main chain, or paying a higher transaction fee.

Once the transaction has been sent, you still have a few options that can speed it along. If your transaction is stagnating in the queue, you can jump ahead in line with opt-in Replace-by-Fee, or opt-in RBF, which allows you to resend your transaction with a higher fee. Not all wallets support this option, however. If yours doesn’t, you’ll need to consider alternatives, such as “child pays for parent,” or CPFP. With CPFP, miners choose transactions that include the greatest combined fees. You can also use a transaction accelerator, which allows you to submit transactions that are at least 0.1 mBTC per kilobyte to the 

Finally, you can use the Lightning Network, which is a Layer 2 solution. The Lightning Network allows you to open a new channel, complete as many transactions as the desired off-chain from the conventional Bitcoin network, and then close the payment channel when the transactions are verified. When using the Lightning Network, you can essentially skip the congested queue, and your fees may also be significantly lower.

If neither the Lightning Network nor any other solution is an option, rest assured that even with stuck transactions, your bitcoin is not lost. It will remain in your wallet until the transaction is confirmed.

Every transaction must go through the mempool before it can be added to the blockchain. During times of high traffic and congestion, the mempool collects and stores transactions until miners can add them to the block.

The mempool also makes it possible for nodes to access other nodes’ mempools, which provides them with more details about specific transactions prior to confirmation. While most users want to spend as little time as possible in the mempool, that isn’t always possible — especially when more transactions arrive than can be cleared promptly. When a block is mined, all the transactions it contains will be cleared from the mempool, which decreases the size of the mempool accordingly.

Without the mempool, nodes would be unable to view incoming transactions, and they’d have no idea as to how congested the blockchain network is. It would be impossible to understand or pinpoint the source of traffic jams, high fees and other issues associated with congestion.

Waiting for a transaction to clear can be frustrating. While you might be tempted to blame the mempool, it’s a crucial feature of the Bitcoin network because it’s used to aggregate and hold transactions until they’re ready to add to the blockchain. Understanding how the mempool works can help you use it to your advantage to ensure your transactions are processed on time — and to decrease your frustration if they aren’t.

Bitcoin Mempool: What Happens to Unconfirmed Transactions?

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