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datelogo July 3, 2024

Weekly Crypto Update: Exciting Developments and Market Insights

Market Highlights

The cryptocurrency market faced some turbulence this week:

  • Bitcoin (BTC) dropped to $60k, while Ethereum (ETH) fell to $3.3k. However, Solana (SOL) surged to $150 following news about Solana ETF applications by VanEck and 21Shares.
  • Dogecoin (DOGE) and Shiba Inu (SHIB) maintained sideways price action.
  • Cardano (ADA), Avalanche (AVAX), and Polkadot (DOT) saw notable increases of 5.5%, 11%, and 7%, respectively.
  • Kaspa (KAS) gained 23% after Marathon Digital announced it would mine the cryptocurrency.
  • NFT sales declined by 44% in Q2, reflecting a cooling off in the market.
  • A dormant whale wallet transferred $61M worth of BTC to Coinbase.
  • The SEC delayed the launch of a spot Ethereum ETF, requesting resubmissions by July 8th.
  • The U.S. government moved 3,940 BTC worth $240M to Coinbase.
  • Galaxy Digital and Bitwise predict significant inflows for ETH ETFs once launched.

Crypto Gaming

Exciting developments in the crypto gaming sector include:

  • Pixelverse plans to launch its token on TON following the success of the PixelTap Telegram game.
  • XAI, an Ethereum-based layer-3 gaming network, aims to be the next Valve.
  • Catizen announced a TON token drop for July.
  • Studio369 launched its Ethereum token and entered the third phase of its closed beta.
  • Worldwide Webb rebranded to Soulbound, focusing on a Discord-playable game.
  • Avalanche shooter game BloodLoop launched Play-to-Airdrop via the Epic Games store on PC.

Regulatory Updates

Significant regulatory actions included:

  • The SEC sued Consensys, alleging MetaMask acted as an unregistered securities broker.
  • Coinbase filed lawsuits against the FDIC and SEC for clarity on crypto regulations.
  • Matt Gaetz introduced a bill to allow federal tax payments in Bitcoin.
  • Bolivia lifted its ban on Bitcoin and crypto payments, legalizing their use for financial entities.
  • Kraken co-founder Jesse Powell donated $1M in ETH to Trump's presidential campaign.

Investments & Partnerships

Key investments and partnerships:

  • Animoca Brands considers an IPO in 2025 in Hong Kong or the Middle East.
  • Vitalik Buterin and Dragonfly backed Mega Labs with $20M seed funding for the MegaETH blockchain.
  • Colosseum announced a $60M fundraise for the Solana ecosystem accelerator.

Cybersecurity

Cybersecurity incidents continued to rise:

  • Crypto losses from hacks, scams, and exploits hit $575M in Q2.
  • A CoinStats employee is suspected of a $2M theft.
  • Metallica’s Twitter account was hacked to promote a crypto scam.
  • AI versions of Elon Musk were used by scammers to push malicious software.
  • Cardano thwarted a DDoS attack targeting staked ADA.
  • CertiK faced accusations of front-running bug bounties through a subsidiary.

Miscellaneous

Other noteworthy news:

  • Bitcoin miner CleanSpeak is set to acquire rival GRIID in a $155M deal.
  • Drake lost over $1M in BTC betting on the Stanley Cup and NBA Finals.
  • Elon Musk’s X payments service reportedly won’t include cryptocurrencies for now.
  • RariMe, a self-custody identity wallet and Worldcoin competitor, uses ZK proofs for user anonymity.
  • Arbitrum DAO plans to invest 1% of treasury assets ($29M in ARB) into on-chain RWAs.


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datelogo June 26, 2024

Weekly Crypto Update: Exciting Developments and Market Insights

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.

Market Overview
- DeFi Market Cap: Fell by 1.7% to $94 Billion.
- Global Crypto Market Cap: Fell by 2.7% to $2 Trillion.
- NFT Market Cap: Fell by 11% to $31.5 Billion.
- Gaming Market Cap: Fell by 13% to $16.5 Billion.

Crypto & DeFi News
1. Ripple Launches RLUSD Stablecoin: Ripple launches RLUSD stablecoin on XRP Ledger and Ethereum, responding to the rising stablecoin market.


2. Stablecoin Transfer Volume Growth: Stablecoin transfer volume sees 16x growth over 4 years, signaling a maturing industry.


3. CoinStats Hack: CoinStats was hacked, affecting 1,590 crypto wallets. Users are urged to transfer funds immediately.


4. Hamster Kombat Airdrop: Hamster Kombat onboards masses into DeFi with an airdrop, claiming over 140M users.


5. SEC Investigation on Ethereum 2.0 Closed: The SEC has closed its investigation into Ethereum 2.0. LayerZero has launched its token $ZRO with 8.5% of its supply allocated to an airdrop.


6. Fluid DEX Launch: Fluid announced Fluid DEX, a DEX that maximizes capital efficiency, allowing users to earn more on collateral and get a discount on debt.


7. pSTAKE Finance BTC Liquid Staking Testnet: pSTAKE Finance launched its BTC Liquid Staking Testnet on Babylon.


8. Eigenlayer Phase 2 Airdrop: Eigenlayer launched Phase 2 of the Season 1 $EIGEN airdrop. Jupiter Exchange proposed reducing the total JUP supply by 30%.


9. Zero1 Labs Vesting Schedule Extension: Zero1 Labs's proposal to extend DEAI vesting schedules for team and validators has passed, removing 82.3% of the proposed supply from circulation for the next 12-18 months.


10. Global Bitcoin ETFs: Global Bitcoin ETFs now hold a total of 1.029 million BTC.


11. Mantle Introduces cmETH: Mantle introduced cmETH, its new ETH liquid restaking token. $ZKX, the social perp trading DEX, launched its token $ZKX.


12. Trader Joe's Liquidity Book V2.2 AMM: Trader Joe's launched Liquidity Book V2.2 AMM, introducing hook capabilities with the first implementation being concentrated incentives.


13. Balancer v3: Balancer presented Balancer v3, a new iteration of its AMM introducing hooks and enabling greater composability.


14. Binance and MicroStrategy Updates: Binance completed USDT integration on the Toncoin Network. MicroStrategy acquired an additional 11,931 Bitcoins for $786 million.


15. LayerZero Labs ZRO Token: LayerZero Labs introduced the ZRO token, which dropped 17% in 24 hours due to user dissatisfaction with the donation mechanism.


16. Record Market Cap for U.S.-listed Bitcoin Miners: U.S.-listed Bitcoin miners reached a record market cap of $22.8B in June, according to JPMorgan.


17. Gemini Founders Donate BTC: Gemini founders each donated $1 million in BTC to Trump's campaign, criticizing Biden's crypto stance.

Launches
1. Fluid Dex: Fluid Dex launched, focusing on capital efficiency and scalability.


2. Aleph Zero EVM Testnet: Aleph Zero launched the Aleph Zero EVM Testnet powered by Arbitrum Orbit on Gelato RaaS.


3. zkSync $ZK Token Launch: zkSync launched its $ZK token, seeing high trading and subsequent controversy.


4. BTC Layer 2 Relay Chain: BTC Layer 2 introduced a relay chain using WBTC as gas alongside a testnet event.


5. Celo L2 Testnet: Celo is launching its L2 testnet this summer.


6. Mystiko Network Incentive Program: Mystiko Network announced a $5 million ecosystem incentive program for developers.

Alpha of the Week
1. $BLAST: Blast is launching its token and airdrop on June 26.
2. $GMX: GMX will start distributing 5.4M ARB tokens as ecosystem incentives on June 26.
3. $ENA: The first $ENA restaking pools on Symbiotic will be released on June 26.
4. Reef Chain: Reef Chain will launch its first product of the year on June 27.
5. PlayMetalCore: Blockchain game PlayMetalCore will launch its game token on June 28.
6. Presidential Debate Tokens: $TRUMP, $MAGA, and $BODEN are in focus with the presidential debate between Biden and Trump scheduled for June 27.
7. $OP: $57M worth of OP tokens will be unlocked on June 30.

Current Crypto Prices

- Bitcoin (BTC): $61,664

- Ethereum (ETH): $3,373

- Tether (USDT): $1.00

- Binance Coin (BNB): $573.93

- Cardano (ADA): $0.39

- Solana (SOL): $137.44

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!


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datelogo June 21, 2024

Weekly Crypto Update: Exciting Developments and Market Insights

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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datelogo June 14, 2024

Weekly Crypto Update: Exciting Developments and Market Insights

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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