Headlines
LayerZero’s daily trading volume has plummeted by more than 95% from its peak
Dune data shows that after the token airdrop ended, LayerZero's daily trading volume has fallen by about 96.25% compared to the peak period.
BTC briefly fell below 63,000 USDT, with a 24-hour drop of 1.94%
OKX market data shows that BTC briefly fell below 63,000 USDT and is now trading at 63,233.1 USDT, with a 24-hour drop of 1.94%.
CoinStats security incident compromised wallet Blurr.eth stolen $8.7 million MKR
According to on-chain analyst Ember, CoinStats was attacked last night, and hackers pushed notifications containing phishing links to users through the application. About 1,590 wallets were affected. The most affected may be a wallet belonging to Blurr.eth: 3,657 MKR (8.7 million US dollars) was stolen and sold on the chain by hackers for 2,482 ETH. This caused the price of MKR to plunge from $2,462 to $2,280, a short-term drop of 7%.
He Yi: Trading platforms do not have pricing power, the era of hair-pulling may be coming to an end
He Yi, co-founder of Binance, wrote that the market rise in 2024 will be initiated by BTC ETF. This wave of smart money belongs to the king-level projects and Lumao Studio. They love each other and have created a wave of beautiful data together. On the one hand, the project parties can raise more money from VCs (if you observe the top VCs in the market, they are all over a billion US dollars, which will indeed push up the pricing of good projects), and on the other hand, the project parties with money and users are full of confidence. There are millions of users on the chain. It doesn’t matter if they don’t go on a certain platform. There are many CEXs to go on. If there is no CEX, there are DEXs. At worst, there are DEXs on their own chains. Trading platforms do not have pricing power, so for projects with high valuations, everyone should look at the fundamentals, not just the market value, but also the circulation. As of today, the market has indeed changed again. The fratricide between Lumao Studio and L2 projects has turned into a farce, and the Lumao era may be coming to an end. Currently, there are more professional players in both the primary and secondary markets. They have various tools to hedge risks, but the market size has also expanded. As an ordinary investor, the ICO of 2017, the IEO of 2021, the nesting dolls, and even the 2023 strategy of making money may not be suitable for today's market. In every cycle, there will be some projects that go through the bull and bear markets, and there are also countless king-level projects that fall on the road. Whether it is Web2 or Web3, there are very few successful startups, and projects that cross the gap and cycle are even rarer.
Industry News
Monetary Authority of Singapore: The banking industry has the highest risk of money laundering, and digital payment tokens have become an emerging money laundering channel
The Monetary Authority of Singapore (MAS) recently released the "Singapore Money Laundering Risk Assessment Report 2024". The report outlines Singapore's efforts to continuously strengthen its anti-money laundering (AML) framework in light of the changing risk environment. The report provides an extensive analysis of Singapore's main money laundering (ML) risks, incorporating various qualitative and quantitative indicators related to threats, vulnerabilities and control measures, highlighting major money laundering threats such as fraud, especially cyber fraud, organized crime, corruption, tax crime and transaction-based money laundering.
Affected by the halving event and the decline in the number of new wallets, Bitcoin miners' income has hit a record low in the past two months
Data shows that Bitcoin miners’ revenue per TH/s (7-day MA) has hit a record low in the past two months following the block reward halving event on April 20. In addition to the halving, another possible reason for the reduction in miners’ revenue is the low number of new wallets entering the Bitcoin ecosystem, which is currently at its lowest level since 2018 (7-day MA).
Project News
EigenDA is working on enabling permissionless payments for blob throughput, to be released later this year
EigenDA posted on X that rollups currently on the mainnet can use EigenDA for free, and all rollups are welcome to publish blobs to EigenDA on the Ethereum mainnet. To prevent Sybil/DDoS attacks on the free layer, the team has deployed a whitelist authenticated by IP or ETH address ECDSA. The free permissionless layer is currently 6 blobs of 128 KB per batch, a total of 768 KB every 10 minutes, but partners can work with EigenDA to seek to increase this indicator.
DeFiance Capital has regained control of the official X account
Arthur, the founder of DeFiance Capital, posted on X that he had regained control of the official X account and deleted the scam/phishing links.
Farcaster's total number of users exceeds 537,000, with contract revenue of nearly US$1.9 million
Dune data shows that as of June 23, the decentralized social protocol Farcaster has a total revenue of over $1.88 million, currently $1,887,175, with a total number of 537,376 users.
Solana game chain Sonic plans to upgrade the test network tomorrow, suspending some Odyssey tasks and on-chain interactions during this period
Solana Atomic SVM Layer 2 Sonic released an update on X: Due to high demand for the Sonic testnet Odyssey event, the team is upgrading the network to enhance the user's on-chain experience. During the upgrade, some tasks and on-chain interactions will be suspended. The upgrade will start at 13:00 on June 24, 2024 and last for about 6 hours.
The amount of ETH staked on Lido exceeds 9.6 million, and nearly 529,000 ETH staking rewards have been paid
According to official data, the total amount of ETH staked by the liquidity staking platform Lido is 9,612,240 ETH, equivalent to approximately US$33,762,706,223; in addition, as of now, Lido has paid staking rewards of 528,825 ETH, equivalent to approximately US$1,857,481,981.
Modular L2 protocol Layer N is launched on testnet V1.2
Modular L2 protocol Layer N announced on X that its testnet V1.2 version has been launched.
pump.fun’s cumulative revenue exceeds $45 million
DefiLlama data shows that as of June 22, the cumulative revenue of Solana ecosystem Meme coin issuance platform pump.fun has exceeded US$45 million and is currently US$45.64 million.
NFPrompt: The website is still under maintenance, please do not click any unconfirmed links
NFPrompt posted on the X platform that the website is still under maintenance, and all assets and cNFP will return to normal once all issues are resolved. For security reasons, please do not click on unconfirmed links and always be wary of phishing.
Base Sepolia will launch fault proof in mid-July, testnet withdrawals will change
Base stated in the official website document that Base Sepolia will launch fault proof in mid-July. The following changes will occur in testnet withdrawals: withdrawals will be proved and finalized according to the fault proof system; withdrawals will no longer be instant: they will take at least seven days to complete, but may take longer, depending on the results of the corresponding dispute processing used; DisputeGameFactory will replace L2 OutputOracle as a new contract for proposing output root statements.
Shardeum: Pre-Atomium 1.11 is launched, marking the end of the first phase of SHM airdrop
Layer 1 blockchain Shardeum announced the release of its new network Pre-Atomium 1.11 on the X platform. This version is a non-incentivized version and will become an incentivized testnet. It is currently fully functional and other updates will be shared within a week.
ZK airdrop token claim ratio exceeds 85%, total claims exceed 3.17 billion
The latest data from Dune shows that 3,178,010,067 ZK tokens have been claimed in the airdrop, accounting for 86.48% of the total airdrop (3,675,000,000 ZK).
Tabi: KYC-restricted users can apply for a refund of Captain Node VIP tickets before June 30
Tabi, a modular game in the Cosmos ecosystem, posted on the X platform that some users of its cooperative channels are from legally protected regions (including but not limited to China, the United States, etc.), and these users are also subject to the KYC restrictions of Tabi Node. Users who fail to pass KYC verification will not be able to receive mining rewards. Tabi is committed to complying with the compliance requirements of various countries and regions, so it will support these users to apply for a refund of their Captain Node VIP tickets. The deadline for refund applications is June 30, 2024.
Investment and Financing
DePIN developer Verida completes $5 million seed round of financing, with Simurg Labs and others participating
DePIN network developer Verida has completed a $5 million seed round of financing, with participation from O-DE Capital Partners, ChaiTech Ventures, Simurg Labs, Gate Labs, HASH CIB, Bison Capital, Amesten Capital and Evan Cheng of Mysten Labs. The post-investment valuation is $50 million. It is reported that the new funds will be used to develop Verida's personal data storage infrastructure and provide decentralized storage and encryption services for users' personal information. (TheBlock)
Gudchain Completes $5 Million Funding, Led by Mechanism Capital
Gudchain completed a US$5 million financing round, led by Mechanism Capital, with participation from Morningstar Ventures, Manifold, SkyVision Capital and others.
Ordinox Completes $1 Million Pre-seed Round of Funding, with Digital Asset Capital and Other Participants
Ordinox announced the completion of a $1 million pre-seed round of financing, with participation from Digital Asset Capital, CMS Holdings, UTXO Management, Sats Ventures, Hidden Street and STS Digital.
Character*Voice
Brazilian football star Ronaldinho: It’s time for crypto to go mainstream
Brazilian football legend Ronaldinho posted on X: “It’s time for crypto to go mainstream, who’s on my side?”
CoinStats CEO: All security measures are being taken to restore services and isolate attackers
CoinStats CEO Narek Gevorgyan said in a post on X about the recent security incident: "We are restoring the production environment by taking all security measures to ensure that the attacker is isolated, which is expected to take 24 hours. On the other hand, we are pushing CEX to blacklist the attacker's address that has been marked on Etherscan."
Andrew Kang: Ethereum spot ETF has far less impact on the market than Bitcoin, and ETH has limited upside potential
Andrew Kang, co-founder of Mechanism Capital, published an article on X analyzing the potential impact of Ethereum spot ETFs on the market. He said that Bitcoin spot ETFs provide a channel for many new buyers to allocate Bitcoin in their portfolios, but the impact of Ethereum ETFs is far less clear. Unless Ethereum creates a convincing way to improve economic conditions, its price will not see significant upside due to the approval of spot ETFs.
Helius CEO: Introducing ZK compression into Solana can significantly increase network capacity and reduce costs
Mert Mumtaz, CEO of Solana ecosystem development platform Helius, posted on X that the team is introducing ZK compression into Solana, which will be done directly on L1 without the need for L2.
CryptoQuant founder: BTC fundamentals can support three times the current market value compared to the top of the previous cycle
Ki Young Ju, founder and CEO of on-chain and market analysis firm CryptoQuant, said that Bitcoin network fundamentals can support three times its current market value compared to the previous cyclical top, and Ki Young Ju believes that Bitcoin's price "has the potential to be maintained" at $265,000. (Cointelegraph)
