🫠 The ETF Debut Wasn't So Bullish After All?
In today’s edition: 🚨 ETH dips as ETF cash exits, 💥 $290M wiped in crypto liquidations, 🔝 Continuous growth in Solana metrics, and more!
👯♀️ Refer Unchained with a friend and earn a Premium subscription
Gevulot is the universal proving infrastructure for ZK. Try ZkCloud with free usage, plus extended grant opportunities for premier customers, until 'Q1 2025.
Build app-specific rollups with Web2 tooling without the constraints of Web3! Explore grants of up to $50,000 to bootstrap your project and start building! Learn more.
Apps on the TON Blockchain Have Become Extremely Popular. Is It Sustainable?
This year, games on TON have taken off, garnering hundreds of millions of users in a few months. TON Foundation’s Alena Shmalko and Jack Booth share their insights on how TON, after Telegram had run-ins with the SEC, got here.
The Open Network, aka TON, has been on a tear since late February. TVL has skyrocketed 34x since the beginning of the year, reaching over $750 million as of the time of recording. The price of TON has more than tripled from about $2 to $7, and daily active addresses recently exceeded those of Ethereum in May and June. Games with fun names such as Hamster Kombat and Catizen are gaining traction, and Pantera Capital, an “OG” crypto investor, is making its largest investments yet in TON.
In this episode, Alena Shmalko and Jack Booth from the TON Foundation discuss how TON has managed to garner this traction, especially after a rocky start when the SEC went after the original founder, Telegram.
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, Sam Sriram and Sage Young
Crypto Market Sees $290 Million in Daily Liquidations
More than 75,500 crypto traders were liquidated over the last 24 hours as prices of major digital assets retraced.
ETH Drops Under $3,200 as Spot Ether ETFs Record $133 Million Outflows
The price of ether fell more significantly than bitcoin on Wednesday, as outflows from spot ether ETFs topped $133 million.
Solana’s Growth Metrics, Including Stablecoin Supply, Continue to Take Off
Since the beginning of the year, Solana has seen several ecosystem metrics increase substantially, benefiting from Solana’s parallelization capabilities.
Daily Bits… ✍️✍️✍️
🔑 Bitstamp will start distributing bitcoin, bitcoin cash, and ether to Mt. Gox creditors beginning today, following the receipt of these assets from the Mt. Gox trustees.
💼 Hashdex filed an S-1 registration with the SEC for an ETF that will initially hold bitcoin and ether, with potential to include other assets pending regulatory approval.
🇮🇳 India plans to release a discussion paper on its cryptocurrency policy stance by September, following consultations with relevant stakeholders to gather diverse opinions on the matter.
🎣 Blast protocol MonoSwap announced it experienced a hack, which compromised a MonoSwap developer's PC through a phishing attack, leading to the withdrawal of most staked liquidity positions and significant protocol damage.
Today in Crypto Adoption...
🌾 AgriDex completed its first agricultural trade on the Solana blockchain, moving over 200 olive oil bottles and several wine cases from South Africa to London.
🚗 Ferrari is expanding its cryptocurrency payment options to Europe by the end of July, after launching in the US last October.
The $$$ Corner…
🛠️ Caldera raised $15 million in a Series A funding round led by Peter Thiel's Founders Fund to develop its "Metalayer" ecosystem, which simplifies the deployment of layer 2 blockchains.
What Do You Meme?
📈 Your Market Update 📉
BTC is down 3.5%, trading at $64,217
ETH is down 8.4%, trading at $3,176
BTC dominance: 52.3%
Crypto market cap: $2.42T
*All data as of today, 07:17 am ET. Source: CoinGecko
Recommended Reads
Jake Chervinsky, chief legal officer at VC firm Variant, on why “crypto is non nonpartisan”
CoinDesk: Is Donald Trump Insulating Bitcoin’s Price From The Tech Stock Slide?
@0xmiir, an intern at block explorer SolanaFM, on a new draining system hackers are using
We Are Hiring!
A Bitcoin Reporter to cover all things Bitcoin. See the details and apply here.
A Regulatory Reporter to cover regulatory topics in the space. See the details and apply here.
A Senior Editor to help assign and edit daily news stories, as well as work on features and other editorial projects as needed. See the details and apply here.
An Audience Development Director to broaden the reach of the publication’s content, whether through the web, social media, newsletters, podcast platforms, or videos. See the details and apply here.
🔝 Are you hiring and want to promote the postings in the Unchained newsletter? Let us know!