The cryptocurrency market has witnessed a flurry of activity over the past 12 hours, with some notable developments across various projects. From token mergers and staking updates to new releases and rebranding efforts, here are the key events shared by Layergg.
Ethena’s Reserve Fund Stability
According to @ki_young_ju, Ethena’s reserve fund is well-equipped to handle prolonged periods of negative funding rates, similar to those experienced during the FTX/LUNA scenario in 2022. The fund’s stability is assured as long as Ethena’s market cap remains below $3 billion, which it currently has at $2.4 billion.
Artificial Intelligence Alliance Token Merger
The Artificial Super Intelligence Alliance has confirmed the merger of $FET, $OCEAN, and $AGIX tokens into the $ASI token. The $ASI token is expected to launch on May 24, marking a major milestone for the alliance.
Jupiter Announces the Launch of JupSOL
Jupiter has announced the launch of JupSOL, Solana’s yield-generating Liquidity Staking Token (LST). JupSOL will provide an attractive opportunity for Solana investors by enabling trustless delegation to Jupiter’s validators with 0% fees and 100% MEV (Miner Extractable Value) rebates.
