On Sunday, April 30, the Bitcoin network registered more than 568,300 transactions, a new daily record in its entire 14-year history. Ordinals, a novel feature introduced in January, played a pivotal role in this growth.

Leading venture capital firm Andreessen Horowitz (a16z) has submitted a detailed response to the UK Treasury's consultation paper on the proposed regulatory regime for cryptoassets.

Luxury auction house Sotheby's has announced the launch of a new on-chain marketplace for digital art collectors, allowing them to purchase secondary NFTs from a curated selection of leading artists hand-picked by Sotheby's specialists.

Top stories in the Crypto Roundup today:

• Bitcoin Sets New Daily Transaction Record
• Venture Capital Giant a16z Engages with UK Treasury for Future of Crypto Regulation
• Sotheby’s Launches On-Chain NFT Marketplace
• TUSD Market Share on Binance Rises to All-time High as 0 Fee Trading Starts

Bitcoin Sets New Daily Transaction Record

On Sunday, April 30, the Bitcoin network registered more than 568,300 transactions, a new daily record in its entire 14-year history. Ordinals, a novel feature introduced in January, played a pivotal role in this growth.

According to data from a Dune dashboard, over 307,000 of the 568,300 transactions recorded on Sunday were Ordinals, representing a 16% increase from the previous day's record. This milestone means that Ordinals accounted for approximately 54% of Bitcoin's daily transactions on therecord day.

Ordinals enable the inscription of various types of data, including audio, art, and video games, onto individual satoshis, the smallest unit of Bitcoin. This process results in the creation of unique digital assets, akin to Ethereum-based non-fungible tokens (NFTs).

As of now, over 2.39 million Ordinals have been inscribed, according to Glassnode, which noted a "marked character shift" in Bitcoin mempools this year. Mempools store unconfirmed Bitcoin transactions, and it seems that text-based Ordinals inscriptions are on the rise.

Apart from Ordinals, Glassnode reported that the majority of Bitcoin transactions are monetary in nature, often facilitated by cryptocurrency exchanges.

Venture Capital Giant a16z Engages with UK Treasury for Future of Crypto Regulation

Leading venture capital firm Andreessen Horowitz (a16z) has submitted a detailed response to the UK Treasury's consultation paper on the proposed regulatory regime for cryptoassets.

The consultation, which ran from February 1 to April 30, 2023, sought public feedback on emerging regulatory frameworks for blockchain and web3 technologies. a16z, which has over $35 billion in committed capital, praised the Treasury's transparent approach and expressed its willingness to collaborate with international officials and regulators.

The firm singles out the consultation’s core design principle of “same risk, same regulatory outcome” for the cryptoasset sector, emphasizing the importance of understanding that not all scenarios necessitate the same form of regulation to achieve equivalent regulatory outcomes.

In their response letter, a16z emphasizes the importance of understanding key considerations in regulating the web3 ecosystem, such as the impact of decentralization on cryptoasset transactions and DeFi.

Sotheby’s Launches On-Chain NFT Marketplace

Luxury auction house Sotheby's has announced the launch of a new on-chain marketplace for digital art collectors, allowing them to purchase secondary NFTs from a curated selection of leading artists hand-picked by Sotheby's specialists.

Distinguishing itself from existing NFT marketplaces, Sotheby's Metaverse platform utilizes smart contracts to facilitate sales and accepts payment in Ether (ETH) and Polygon (MATIC). Sotheby’s is set to ensure royalty payments are automatically distributed according to the chosen royalty rate through smart contracts on the secondary sales platform.

The platform's launch features work from 13 prominent digital artists, including XCOPY, Claire Silver, Tyler Hobbs, and Hackatao. The 279-year-old British-American clearing house has made its first appearance on the NFT scene back in April 2021, auctioning off the work of digital artist Pak

TUSD Market Share on Binance Rises to All-time High as 0 Fee Trading Starts

Following the introduction of zero-fee spot trading for BTC and ETH trading pairs with TUSD on Binance, the stablecoin's trading volume reached an all-time high of 15.9% on the exchange, amounting to $987 million on April 22nd.

TUSD has now become the third-largest stablecoin by trading volume on centralized exchanges, with a market share of 6.5%. This achievement marks the first time TUSD has surpassed USDC since June 2020.

Dig deeper into all things stablecoins via CCData’s latest Stablecoins & CBDCs Report.

State of the Crypto by Top Tier Exchange Volume

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