Weekly Crypto Update: Exciting Developments and Market Insights

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datelogo June 21, 2024

Category: MARKET RECAP


Market Overview
- DeFi market cap fell by 10.6% to $96 Billion
- NFT market cap fell by 20% to $35 Billion
- Gaming market cap fell by 21% to $19 Billion
- Global Crypto market cap fell by 7.8% to $2.5 Trillion

Current Crypto Prices:

  • Bitcoin (BTC): $64,775

  • Ethereum (ETH): $3,513

  • Tether (USDT): $1.00

  • Binance Coin (BNB): $595.37

  • Cardano (ADA): $0.38

  • Solana (SOL): $133.50

Top News
? @IGGYAZALEA tied her $MOTHER token to a new telecom venture, enabling purchases of mobile phones and plans with crypto.

? $FLOKI has made a habit of successful marketing campaigns globally. Set to begin in just two days, this latest initiative stands to shake things up within the memecoin sector.

? Binance defeated Nigeria in an ongoing legal battle.

? Regarding @Terra_money's $4.5 billion settlement with the US SEC, TfL's executives have shared what's next in the ecosystem's journey.

? A project on SOLANA saw a huge percentage gain.

? Borpa raised $65M in the Overflow Round, with a launch expected on June 27th.

? MicroStrategy to expand Bitcoin holdings with a $500 million convertible notes offering.

? Curve Finance CEO's loans liquidated for $140 million worth of CRV.

? @realDonaldTrump, dubbing himself the "crypto president," raised a whopping $12M at a Silicon Valley fundraiser.

? @SportsBetIo announces a 10 MILLION $USDT jackpot for Euro 2024.

? SECGov Chair Gary Gensler hints at possible approval for spot Ethereum ETFs this summer, which could drive substantial institutional investment into Ethereum.

? @zksync announces a massive $3.6 billion token airdrop to reward its community, aiming to enhance user engagement and propel the platform's growth.

Recent Launches
? @solanalabs introduced a blockchain-based verification platform for brands' loyalty programs.

? @MantaNetwork launched a $50M fund to boost ecosystem growth.

? @BNBCHAIN and @BinanceLabs announced the BNB Incubation Alliance, an initiative to sustain early-stage blockchain innovation.

? Symbiotic, @eigenlayer's main competitor, went live.

? @Official_Upbit launched Ondo Finance (ONDO)'s KRW, BTC, and USDT markets.

? @MarinadeFinance launched Season 3, planning to distribute 25M MNDE to eligible users over the next 3 months.

? @MystikoNetwork is launching Mystiko DAO with 100% community ownership.

? Intax is launching FinTax Snap, a new crypto asset financial and tax management plug-in based on @MetaMask Snap.

? @WhalesMarket unveiled the launch of Nostra on its pre-market platform.

? @Polygon launched a $640M Community Grants Program.

? The NEAR Foundation launched an independent entity called @nufflelabs with $13M in funding.

DeFi Highlights
? @runes_terminal announces closure of its investment round led by Cogitent Ventures.

? @plumenetwork secures $10M in a seed funding round led by Haun Ventures.

? SEC Chair Gary Gensler expects Ether ETF S1 approval by the end of this summer.

? @cosmos modular game @Tabichain concluded its public offering, raising $16.08M.

? @Burnt_XION integrates Chain Abstraction with @Solana via @Picasso_Network.

? @COTInetwork launches Creators Program with rewards for community content creation.

? @ZeroLendxyz launches #zLP staking for ZERO/ETH liquidity providers.

? @Ta_da_io conducts its expansion to Italy and launches a $1,000 campaign.

? @CurveFinance founder Michael Egorov's loans were liquidated, causing a bad debt situation the team is working to resolve.

? @Ripple contests the $2 billion penalty proposed by the SEC.

? @sophon will open farming on June 18th.

? @stakewise_io teamed up with MetaMask to introduce wallet-native Pooled Staking.
? @COTInetwork V2 Testnet is coming soon.
? @holographxyz was targeted by a malicious actor who minted an extra 1 billion HLG tokens, causing the protocol's native token to drop 60%.

Alpha 

? $ENA - Ethena will announce a tokenomics and staking update on June 17.

? $SNX - Synthetix V3 goes live on Arbitrum next week.

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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