This week in web3 #21

Every Friday afternoon, we share with you the most important news of the week in the world of web3.

This week in web3 #21

1️⃣ A strange week for crypto

With the collapse of Silvergate, SVB, and Signature, one would have expected the crypto market to crash but the opposite has happened, with the crypto market cap pointing to $1.1 trillion today according to CoinMarketCap.

2️⃣ USDC's near death has stablecoin watchers worried

Circle-issued USDC’s s inability to hold its peg against the U.S. dollar a few days ago sent investors fleeing.

3️⃣ Shiba Inu falls 10% amid code drama

Shiba Inu's (SHIB) price fell 10% in the past 24 hours amid drama surrounding the codebase of the upcoming Shibarium blockchain.

4️⃣ GPT-4 launch sends AI tokens soaring

The latest AI-token price surge mimics the meme-token phenomenon far more than a fundamental growth cycle, say analysts.

5️⃣ Arbitrum to airdrop new token and transition to DAO

The long-awaited ARB token will grant holders the ability to vote on changes to the leading Ethereum layer 2 network.

6️⃣ Ethereum has a new URL standard

Web3 URLs—enabled with the launch of ERC-4804—have made it onto Ethereum, allowing internet users to access Ethereum applications and NFTs without worrying about centralized censorship.