Daily Top Performer — Aragon (ANT)
U.S. equities reacted positively to April’s inflation data and rises 0.46% as inflation cools. The broader cryptocurrency market declined despite an initial spike from positive inflation data, with Bitcoin and Ether dropping 0.21% and 0.44%, respectively, in the past 24 hours.
Today's outperformer is ANT, which surged 14% in the past 24 hours due to ANT’s Cofounder proposing token buybacks.
Launched in 2016, Aragon (ANT) is a platform for creating and managing Decentralized Autonomous Organizations (DAOs) by providing simple, scalable, customizable, and plug-and-play solutions for business functions like payment and governance systems.
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ANT surged after co-founder Luis Cuende proposed a $30 million token buyback to address their ongoing governance crisis. The proposal includes transferring Aragon's $200 million treasury to the Aragon DAO over five years. This move eased tensions between the Aragon Association and activist crypto traders, known as the RFV Raiders. It also further proved that on-chain governance does work, as the RFV raiders were the majority owners of the ANT token and thus its treasury. As the blockchain economy grows, there will be more governing needed, and a utility protocol like ANT helps promote interactions among DAOs.
Check Out the Latest Prices, Charts, and Data of ANTUSDT!
Talk of the Town
Ethereum validators earned a record $46 million in staking rewards in the first week of May, with the staking rewards rate reaching 8.6% post-Merge. This surge in rewards is attributed to the trading frenzy of a new memecoin, Pepe (PEPE), which caused average fees on the Ethereum network to rise significantly. As a result, validators received higher income from processing transactions and regular rewards. Ethereum's transition to a proof-of-stake consensus mechanism in 2022 and the Shapella upgrade have increased interest in ETH staking, particularly from institutions.
