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Solana memecoin hype continues, Backpack’s beta phase was a success and Starbucks axes its NFT program | TechCrunch

Mar 21, 2024 - techcrunch.com
This week, TechCrunch Crypto reported on several significant events in the crypto world. Starbucks discontinued its Odyssey NFT program launched in 2022, and Solana saw continued memecoin momentum. Crypto exchange OKX ceased services in India, and the country faced more challenges in the crypto space due to government crackdowns. Meanwhile, the crypto market prices were lower, with Bitcoin down 6.5% on the week at $67,300 and Ether falling 8.6% to $3,550. The total crypto market cap decreased 6.3% to $2.55 trillion.

In the podcast Chain Reaction, Tegan Kline, CEO and co-founder of Edge & Node, was interviewed about blockchain and AI integrations. Kline discussed The Graph network, indexing data, and its broader use case for the internet. In other news, former Grindr exec and a married couple launched Rails with a $6.2 million round for its decentralized FTX alternative, and the Avalanche Foundation announced a $1 million liquidity mining incentive program.

Key takeaways:

  • Starbucks has discontinued its Odyssey NFT program launched in 2022, while Solana is experiencing a new wave of memecoin mania.
  • Crypto exchange OKX has ceased its services in India amidst the government's increasing crackdown on the crypto space.
  • The crypto market prices have fallen this week, with Bitcoin down 6.5% and Ether down 8.6%, according to CoinMarketCap data.
  • Chain Reaction's latest podcast episode features an interview with Tegan Kline, CEO and co-founder of Edge & Node, discussing blockchain and AI integrations, and the future of dApps.
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