G.M Frens,
📰 Today's Crypto Rundown: All the must-know updates in one place! 👇
NEWS 📝
•South Korea's crypto crackdown: South Korea’s Financial Supervisory Service is inspecting local exchanges under the new Virtual Asset Users Protection Act, creating uncertainty in the market. 🔎 (Sources: Neilyanto, BlockchainReporter, Coindesk)
•Bitcoin under pressure: Bitcoin faces downward pressure due to Binance’s regulatory troubles, with analysts predicting a potential drop to $14K. 📉 (Sources: Neilyanto, ETHNews, TheBlock)
•Polygon’s POL rally: Polygon has successfully transitioned from MATIC to POL, showing signs of strong upward momentum, with analysts eyeing a 100% price increase. 📊 (Sources: Neilyanto, BlockchainReporter, CryptoSlate)
•Trump family DeFi venture: The Trump family partners with Aave to launch a stablecoin project aimed at boosting the USD’s presence in decentralized finance. 💼 (Sources: Neilyanto, ETHNews, CoinTelegraph)
•Polkastarter V4 launches: Polkastarter’s V4 upgrade introduces new features to the platform, potentially boosting investor and developer interest. 🚀 (Sources: BlockchainReporter, ETHNews, Decrypt)
•Fantom’s Sonic upgrade: Fantom’s upcoming Sonic upgrade could drive a 133% surge in value, offering a bullish opportunity in a largely bearish market. 🏗 (Sources: Neilyanto, ETHNews, CoinDesk)
•1inch token surges 20%: A $1.75M buyback by the 1inch team triggered a 20% spike in token price, garnering attention within the DeFi space. 💰 (Sources: BlockchainReporter, Neilyanto, CryptoBriefing)
•TRON hits new highs: TRON (TRX) has surged by 21% this month, with the potential for another 30% rise if it breaks resistance levels. 🔥 (Sources: ETHNews, Neilyanto, CoinTelegraph)
•Solana struggles: Solana continues to experience volatility, down 22% for the month. It must break $176.89 for any signs of a recovery. ⚠️ (Sources: ETHNews, BlockchainReporter, Decrypt)
•BlastUP poised for a 1000% surge: BlastUP’s recent listings on MEXC and Bitget have increased exposure, with analysts predicting a 1000% value surge by year-end. 💥 (Sources: ETHNews, BlockchainReporter, CryptoSlate)
• Mt. Gox CEO Returns with EllipX: Mark Karpeles is launching EllipX, a new crypto exchange built with transparency in mind. Users get reduced fees and NFTs, aiming to rebuild trust after the Mt. Gox collapse. 🔥 (Source: Techopedia)
• Ethereum Revenue Drop: Ethereum Layer 1 revenues plummeted 99% post-Dencun upgrade, causing concerns over the platform's ability to sustain itself long-term. 💰 (Source: Cryptonews)
• Solana & Ethereum Rally Predictions: Analyst Altcoin Sherpa predicts a Q4 or early 2025 rally for Solana and Ethereum. Potential gains ahead after current price dips. 🚀 (Source: Daily Hodl)
Crypto & DeFi Project Highlights 📈
• Lido (LDO) Leads in ETH Staking → Lido continues to dominate liquid staking with control of 80% of the market, pushing DeFi liquidity growth. This surge boosts staking rewards while keeping liquidity flowing across DeFi protocols. 🌊(Source: CoinDesk, The Block)
• Curve Finance (CRV) Plans Governance Upgrade → Curve is working on a new decentralized governance structure to reduce inflation and improve security. These changes aim to incentivize user participation and enhance long-term sustainability. 🔐(Source: The Block, Decrypt)
• Ribbon Finance (RBN) Expands Options Trading → Ribbon Finance is integrating multi-chain options trading, offering crypto derivatives and advanced strategies for better risk management. This opens more opportunities for DeFi users looking for higher returns. 📈(Source: Decrypt)
• Liquid Staking Tokens Surge → Liquid Staking Tokens (LSTs) are seeing rapid adoption, with the market growing by $26B this year. Their ability to combine staking rewards with liquidity is driving DeFi’s explosive growth into 2024. 🚀(Source: CoinDesk)
• SuiPlay Pre-orders Skyrocket → The Web3 gaming handheld device, SuiPlay0x1, is gaining massive attention, with 2025 pre-orders already selling fast. A major boost for blockchain gaming! 🎮 (Source: Cryptonews)
•DeFiChain's September Hard Fork → DeFiChain is set for a hard fork in mid-September, introducing enhanced owner rewards, faster block times, and improved token ownership transfers. The update also strengthens decentralization with the nearing integration of the Ocean protocol. 🌐 (Sources: DeFiChain, Finextra)
•Tangible's Tokenization of Real-World Assets → Tangible, on the Polygon blockchain, enables users to own fractions of assets like real estate and gold through its TNFT marketplace, bridging traditional assets with DeFi. This innovation offers greater accessibility for investors. 🏡 (Sources: CoinBureau, Finextra)
Stay informed, stay ahead! 🚀
See u soon 😇
Maboo :)
