Weekly Crypto Update: Exciting Developments and Market Insights

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datelogo June 14, 2024

Category: MARKET RECAP


This week has been full of exciting updates in the crypto world. While many are busy chasing the latest 10x on meme coins, some significant alphas might have slipped under your radar. Don’t worry, we've got you covered with a comprehensive round-up of this week's most important crypto news and market insights.

Crypto News:

  • Australia's First Spot Bitcoin ETF: Monochrome’s launch on the @CBOE exchange marks a significant milestone, offering a stark contrast to the cash-settled versions in the US.

  • $BRETT Hits $1 Billion Valuation: @BasedBrett's $BRETT becomes the first @Base Network meme coin to reach a $1 billion valuation, raising eyebrows at @Coinbase's L2.

  • New National Stock Exchange in Texas: @BlackRock and @Citadel are collaborating to launch a new stock exchange in Texas.

  • Tether's Investment in XREX: @Tether_to invests $18.75 million in XREX to facilitate cross-border payments in emerging markets.

  • Swell's Token Airdrop: Swell announced an initial airdrop of 8% of the SWELL token supply.

  • Fuel Network’s Final Testnet: Fuel Network launched its final public testnet, an operating system purpose-built for Ethereum rollups.

  • Wisconsin Pension Plan and Bitcoin ETF: Wisconsin Pension plan likely to invest significantly more in Bitcoin ETF.

  • Layer 2 Linea Pauses: Layer 2 Linea pauses after a $7 million Velocore exploit.

  • Coinbase's Smart Wallet: Coinbase launched its Smart Wallet, a product that significantly simplifies the onboarding process.

  • Bitpanda and Deutsche Bank Partnership: @Bitpanda_global drafts Deutsche Bank to process fiat transactions in Germany.

  • $FLOKI Investment: @DWFLabs to purchase $12 million of $FLOKI from the project treasury and open market.

  • $BNB Token Surge: $BNB token breaks through $700, setting a new all-time high.

  • GameStop-Inspired Meme Coins: GameStop-inspired meme coins soar over 80% as Roaring Kitty flashes $586M worth of GME position.

  • Vitalik Buterin Reflects on Ethereum: Ethereum co-founder Vitalik Buterin shared insights on what he would have done differently if he could return to the blockchain's 2014 inception.

  • Vitalik's Views on Meme Coins: @VitalikButerin expresses reservations about celebrity-backed meme coins on @Solana, offering insights and a recipe for a meme coin deserving of respect.

Market Insights:

  • MANTRA Chain's RWA Savings Vault: @MANTRA_Chain's RWA savings vault powered by Ondo.

  • Fortunafi's Funding Success: @_Fortunafi secures $9.5M funding for RWA/stablecoin initiatives.

  • Congress on RWA Tokenization: Congress explores the potential of RWA tokenization in an upcoming June hearing.

  • VanEck's Ethereum Prediction: $90 billion asset manager VanEck predicts Ethereum will reach $22,000 by 2030.

  • Arbitrum's Strong Position: Arbitrum continues to hold its top position, with Blast and Base also seeing significant growth.

  • EigenLayer's Historic Highs: EigenLayer's TVL has crossed $2 billion, with continued achievements in historic highs.

  • Additional Developments: Various other developments include zkSync's Prover Network milestone, Wormhole's new stake for governance, Worldcoin's survey results, StarkWare's Bitcoin scaling support, and more. Binance has launched the 55th Project IO.NET (IO) on Launchpool.

  • Upcoming Token Unlocks: $STRK - $73M STRK (4.9% of its circulating supply) will be unlocked on June 15. $PSTAKE will launch a liquid staking solution for Bitcoin very soon. $FJO - Fjord Foundry launchpad will go live on Solana on June 10.

Alpha Threads:

  • Guide on Using Pump.Fun: A detailed guide on How to use Pump.Fun - [link]

  • Guide on Farming $BLUM: A detailed guide on how to farm $BLUM - [link]

  • Core Career Paths in DeFi: A detailed guide on Core Career paths in DeFi - [link]

  • Airdrops Worth Farming: A detailed list of airdrops worth farming - [link]

  • June Token Unlocks: A comprehensive guide on June token unlocks - [link]

Current Crypto Prices:

  • Bitcoin (BTC): $66,956

  • Ethereum (ETH): $3,479

  • Tether (USDT): $1.00

  • Binance Coin (BNB): $600.72

  • Cardano (ADA): $0.43

  • Solana (SOL): $147.76

Please tell us in the comments what other insights you want to see in the weekly round-up. We’ll be taking notes. See you again next week!

Source: Cointelegraph

 


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