ETH Excels, But Price Lags 😞
In today’s edition: 📈 Binance sees massive $2.2B inflows, 💥 DEXs hit third-highest trading volume, 💹 Harris’s VP pick lifts KAMA Memecoin, 📱 Fedi launches Bitcoin "Super App," and more!
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Crypto Prices Are Way Down. Is It Time to Buy the Dip?
Jeff Dorman from Arca breaks down the recent crypto crash, its causes, and whether buying the dip is a smart move.
The recent crypto crash has left many investors questioning the way the market is going. In this episode, Jeff Dorman, chief investment officer at Arca, provides a deep dive into the factors behind the crash, the macroeconomic influences at play, and why he remains optimistic despite the downturn. Expressing surprise at Ethereum’s underperformance this year, he describes how the Democrats’ handling of crypto is an own goal, and how TradFi and DeFi differ from each other during market upheavals.
Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Amazon Music, or on your favorite podcast platform.
What’s Poppin’?
by Juan Aranovich, Sage D. Young, Frederick Munawa, and Sam Sriram
Ethereum Has Had a Banner Year in Most Areas. Except Price.
Despite numerous positive developments, ETH is underperforming this year, especially compared to Bitcoin and Solana.
Binance Records $2.2 Billion in Daily Inflows Amid Token Price Rebound
Binance had one of its biggest trading days year-to-date, both in terms of inflows and trading volume.
Decentralized Exchanges, Led by Uniswap, Post Their Third-Largest Day of Trading Volume
The trading volume of governance tokens from top decentralized exchanges climbed in the past 24 hours.
Kamala Harris’s VP Pick Boosts the Price of the KAMA Memecoin
On Tuesday, US Vice President and the democratic nominee Kamala Harris saw the odds of her winning the election go to their highest level ever on Polymarket.
Fedi Unveils Production Version of its Bitcoin “Super App”
Technology startup Fedi launched a beta version of the app – Fedi Bravo – earlier this year.
Daily Bits… ✍️✍️✍️
🔒 The Ronin Network temporarily paused its bridge after detecting an $11.8 million outflow to MEV bots, with white hat hackers set to return the funds and receive a $500,000 reward.
💸 Blockchain protocol Nexera suffered a $1.8 million exploit, causing its NXRA token to tumble 40%, with the attacker linked to recent compromised private key incidents including the OKX DEX hack.
🕵️ MonkeDAO has initiated an internal investigation into claims of misappropriation of validator earnings, following allegations that nearly half of the earnings since December were not returned to the DAO's treasury.
💡 Core Scientific's shares jumped 17% after securing an additional $2 billion contract with CoreWeave, pushing their potential revenue to over $6.7 billion.
📱 TON blockchain reports that 20% of Telegram users are now engaged in gaming, with titles such as Hamster Kombat contributing to the rise in user participation.
📉 The Solana-based memecoin TrumpCoin (DJT) crashed by over 90% after a large sale, which traders suspect was a "rug pull" by developers, causing its market cap to fall from $55 million to $3 million.
🔄 Investors have been redeeming significant amounts from BlackRock’s BUIDL fund, with nearly $9 million in USDC transferred to Ondo Finance this week following a volatile weekend in the crypto market.
⛏️ Solana users are spending thousands of dollars to mine Ore tokens, leading to over 16% of all transactions on the Solana blockchain being related to Ore mining in a rush to acquire the new cryptocurrency.
The $$$ Corner…
🕹️ Web3 gaming company Curio secured $5.7 million in seed funding led by Bain Capital Crypto and SevenX Ventures to expand their team and develop new onchain games.
What Do You Meme?
📈 Your Market Update 📉
BTC is up 4.1%, trading at $57,534
ETH is up 2.6%, trading at $2,533
BTC dominance: 53.55%
Crypto market cap: $2.11T
*All data as of today, 06:30 am ET. Source: CoinGecko
Recommended Reads
Harvard Business Review: The Race to Dominate Stablecoins
Burak Öz, researcher at TLDR, on Who Wins Ethereum Block Building Auctions and Why?
Spirited Away by BitMEX co-founder Arthur Hayes
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