One teenage Dogecoin (DOGE) millionaire, having ridden the highs and weathered the recent lows, is now placing his faith in a defi platform to reclaim his winnings.

With Dogecoin (DOGE) experiencing a dramatic price drop and DTX offering lucrative trading features, investors and crypto traders are showing more interest in the latter.
Despite its playful origins, Dogecoin has been struggling to prove its resistance in the volatile market. Currently priced at $0.12, DOGE has seen a 14.52% drop over the past week, reflecting the market’s unpredictable fluctuations. With a market cap of $17.95 billion and a trading volume of $685.43 million, DOGE has not been up to par this week.

On the other hand, its relative strength index of 32.10 indicates that it is nearing oversold territory, potentially setting the stage for a possible price rebound.

These dynamics make DOGE  an intriguing prospect for both seasoned traders and newcomers.
Apart from this, DOGE was intended to be a lighthearted alternative to Bitcoin (BTC) initially, characterized by its friendly and approachable image.

However, Dogecoin’s community-driven nature and widespread appeal caught the attention of mainstream media and high-profile celebrities, who frequently tweeted about it, driving its popularity and price to high levels.

As the crypto market slams DOGE amid a downturn, one teenage millionaire who capitalized on Dogecoin’s rise is now looking to diversify and regain his footing through DTX.

This decision is not just about spreading risk but also about leveraging the lucrative features that DTX brings to the table. DTX is rapidly gaining traction as an emerging hybrid platform for its trading features.

DTX Exchange is designed to be every trader’s dream. With access to over 120k assets across various markets, including Crypto, Stocks & Bonds, Forex, and Commodities, it provides a comprehensive trading experience. DTX is committed to high-velocity trading without the cumbersome Know Your Customer (KYC) requirements.

Among the many, one of DTX’s features is 1,000X leverage, allowing traders to maximize their potential gains quickly. The platform’s distributed liquidity pools ensure that users have access to ample liquidity, minimizing slippage and enhancing trading efficiency.

The recent fundraising success further highlights the platform’s potential.

With over $2 million raised in a private seed round and over $707,000 accumulated in a presale to date, DTX is well-positioned for maximum growth. Currently selling at $0.04 per token, the price will increase to $0.06 in the next round, presenting an attractive entry point for investors. DTX’s unique approach and feature set to position it as a leading player in the defi space.

As Dogecoin shows signs of a possible rebound from its recent dip and DTX capitalizes on its impressive features and fundraising success, both entities exemplify the potential for significant gains and the importance of strategic diversification. For investors and traders, keeping an eye on these developments is vitally important to gain valuable insights and 25x opportunities.

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The native token of the Ethereum layer-2 Blast has rallied following an airdrop in which 17% of the supply was sent to eligible users.

The long-awaited native token of Ethereum layer-2 network Blast (BLAST) surged 40% following its launch, faring better than other high-profile airdrops to hit the market in recent weeks. 

BLAST debuted for $0.02 per token, placing it at a fully diluted value (FDV) of $2 billion at launch, according to aggregated data from Ambient Finance and perps trading platform Aevo.

The price of BLAST has since rallied a little over 40% to a value of $0.0281 at the time of publication, per CoinMarketCap data.

It comes in contrast to recent high-profile token launches, including Ethereum layer-2 network zkSync (ZK) and cross-chain interoperability LayerZero (ZRO). Both tokens have fallen 46% and 43% from launch, respectively.

The airdrop released 17% of BLAST’s total supply, with 7% going to users who bridged Ether ETH$3,381 or USD on Blast (USDB) to the network beginning late last year.

An additional 7% went to users who “contributed to the success” of decentralized applications (DApps) on the network, while 3% went to the Blur Foundation for future airdrops to its community.

The airdrop attracted some criticism from crypto market commentators on X, most from those who believe the launch valuation fell short of their expectations.

Arthur Cheong, the co-founder of crypto investment firm DeFiance Capital said BLAST’s $2 billion FDV came as a surprise, as he expected a value closer to the $5 billion mark.

The Blast network, co-founded by Blur creator Tieshun Roquerre — more commonly known by his pseudonym PacMan — was criticized by its own seed investors in November for lacking enough features to justify a one-way bridging mechanism that saw users lock up their ETH for several months.

Like several other high-profile airdrops this year — including that of cross-chain bridge protocol Wormhole — Blast’s airdrop event attracted a deluge of scammers across X.

Scammers often choose large-scale airdrop events to pose as legitimate-looking copycats, as airdrops usually require crypto users to connect their wallets and sign transactions to claim their allotted tokens.

Crypto security service Scam Sniffer identified one user who fell victim to a Blast airdrop scam who lost over $217,000 after signing multiple phishing signatures.

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Ethereum (ETH) is down 1% on Wednesday following reports that the Securities & Exchange Commission (SEC) could approve spot ETH ETFs on July 4. Meanwhile, brokerage and financial services firm, StoneX, predicted ETH to see a 40% gain in two months after ETH ETFs go live.

The SEC could approve spot ETH ETFs by July 4, citing sources from industry insiders.

The report stated that the SEC could give the greenlight on July 4 "as talks between asset managers and regulators enter the final stages, industry executives and other participants told Reuters." The July 4 prediction aligns with earlier speculations from Bloomberg analyst Eric Balchunas, who speculated that ETH ETFs might launch around July 2.

Prospective spot ETH ETF issuers filed their amended S-1 registration statements with the SEC last week following comments from the agency. The SEC approved issuers' 19b-4 applications on May 23 but also needs to greenlight their S-1s before ETH can begin trading.

A recent analysis by StoneX predicts that the launch of spot Ethereum ETFs could trigger a 40% growth in ETH's price two months after they go live. In a wider time frame, StoneX's model predicts that ETH's price will be between $2,142 and $12,621 over the next two years.

The company mentioned that its "conservative" predictions are due to the belief that NFTs won't see more mainstream attention as they did in 2021. The analysis also suggested that video games and real-world assets (RWA) — which many believe will boost TVL and user adoption — may not see tangible growth.

The StoneX analysis follows Bloomberg analyst Eric Balchunas's suggestion that ETH ETFs will capture lower net flows than Bitwise CIO Matt Hougan predicted because "ETH futures ETF were a borderline flop."

Hougan predicted that spot Ethereum ETFs will attract up to $15 billion in net flows by the end of 2025. He arrived at the $15 billion figure by analyzing Ethereum's relative market cap compared to Bitcoin, international crypto ETFs volume, Grayscale Ethereum Trust conversion, and the Bitcoin "carry trade."

Yeah, I thought about that. It's a fair question.

The largest ETH futures ETF (EETH) is only ~5% the size of the largest BTC futures ETF (BITO). I didn't adjust things downwards for two primary reasons:

1) My gut just says futures products are different;

2) At Bitwise, our…

Meanwhile, SEC Chair Gary Gensler commented in a Bloomberg event on Tuesday that the process of launching spot Ethereum ETFs is "going smoothly." He stated that the products going live depend on asset managers making full disclosures in their registration statements.

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Asset manager State Street Global Advisors has teamed up with crypto investment firm Galaxy Digital — aiming to launch new exchange-traded funds offering exposure to digital assets.

In separate statements, the two investment firms have hinted that these ETFs would expand “beyond” spot Bitcoin BTC$61,094 ETFs.

“Institutional and retail interest in digital assets has surged since the introduction of spot bitcoin ETFs. However, investors are also seeking exposure to this growing asset class through investment options beyond pure spot bitcoin,” the $4.1 trillion asset manager State Street said in a June 26 statement.

“We believe this is where the next level of growth is for the digital asset ecosystem.”

It comes as State Street proposed a SPDR Galaxy Digital Asset Ecosystem ETF in a June 26 filing to the United States securities regulator, which would invest in publicly-traded digital asset firms.

This could range from crypto exchanges and mining firms to hardware wallet service providers and crypto-focused venture capital firms in the U.S. and abroad.

The fund would also seek to invest in futures and spot ETF products.

State Street also proposed the SPDR Galaxy Emerging Technology Enablers ETF and the Hedged Digital Asset Ecosystem ETF to the Securities and Exchange Commission.

“Crypto is slowly but surely becoming a mainstream asset class. Yet another sign here. Bullish,” Viska Digital Assets CEO Dadi Kristjansson said of the news in a June 26 X post.

Nate Geraci, President of the ETF Store described the development as “noteworthy” but was surprised that State Street didn't go "all-in" on the spot Bitcoin ETFs and the soon-to-be launched spot Ether ETH$3,380 ETFs.

State Street Bank and Trust is expected to provide administrative and accounting services for the digital asset ETFs developed by SSGA and Galaxy Digital.

State Street has been in the digital asset space since at least June 2021, when it launched a dedicated digital asset division.
However, SSGA wasn’t among the spot Bitcoin or Ether ETF applicants in recent months.

United States spot Bitcoin ETFs — issued by some of SSGA biggest competitors — have seen over $14.4 billion in flows since launching five and a half months ago, Farside Investor data shows.

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In the popular HBO series Game of Thrones, alliances were often short-lived and fluid. Many of the great houses changed alliances as their never-ending quest for power continued.

Enter the United States’ 2024 presidential election.

Cryptocurrency PACs are becoming a force in congressional elections, and retail crypto owners represent a substantial share of the voting electorate.

Silicon Valley and other tech entrepreneurs have historically voted for progressives. However, President Biden’s administration has been openly hostile to tech generally and to crypto in particular. At the same time, some crypto advocates say that they can’t bring themselves to vote for former President Trump despite his recent and open embrace of crypto. Some question whether he will follow through on his rhetoric.

It is true that a politician won’t necessarily live up to campaign promises. Tell us something we don’t know.

Much like the shifting alliances in Game of Thrones, natural alignment and historical behavior are the two strongest ways to judge whether an alliance will last. It is clear that a crypto/Trump alliance has potential, while a Biden/crypto alliance is impossible.

Can things get any worse under Biden? His administration engaged in an “Operation Choke Point” effort to encourage regulated banks to cut crypto businesses off from the banking system. His IRS has promulgated a rule to treat crypto wallet developers as if they were brokers. And his Justice Department charged developers of privacy protocols — built in compliance with the Treasury Department’s money transmitter guidance — with somehow violating money transmitter laws.

Biden’s Securities and Exchange Commission (SEC) chairman, Gary Gensler, asserted that all crypto tokens are unregistered securities, even while giving them no reasonable path to register with his agency. The president’s Commodity Futures Trading Commission (CFTC) asserted that all participants in the community of a decentralized autonomous organization (DAO) — Ooki DAO — were jointly and severally liable for a decentralized finance (DeFi) protocol supported by the DAO. (It was an abuse of power, and Biden promoted two commissioners who voted “Yes.” He nominated Christy Goldsmith Romero to lead the FDIC, and Kristin Johnson to serve as an assistant secretary of the Treasury Department.)

The list of the Biden administration’s attacks on crypto goes on.

Yet, in response to political winds that show crypto is having an impact on both the presidential and congressional elections, the Biden campaign is now accepting crypto donations! That development may need to be added to Webster's entry for “chutzpah” as a canonical example.

The Trump administration’s history with crypto is more positive. His nominee for CFTC chairman, Chris Giancarlo, was nicknamed “Crypto Dad.” His nominee for SEC commissioner, Hester Peirce, was nicknamed “Crypto Mom.” And his nominee for CFTC chairman, Heath Tarbert, now works as general counsel at Circle. Overall, Trump’s nominees were pro-innovation generally, and pro-crypto specifically. If the Trump team decides to get the band back together in a second administration, it will lean pro-crypto.

Of course, the crypto community and Trump also have a shared enemy in Massachusetts Senator Elizabeth Warren. Trump’s antipathy for Warren may be stronger than it is for any other U.S. senator. And it just so happens that Warren’s influence on the Biden administration’s financial regulatory nominees is to blame for much of Biden’s war on crypto. That will almost certainly be enough to cement Trump’s support for crypto after the election, and to secure a lasting alliance between Trump and the crypto world.

In a political debate at the Consensus crypto conference in May, Messari founder Ryan Selkis compared Democratic candidates reaching to crypto advocates in this election to cheating spouses caught in the act. They might profess regret and love, and it may work out that way in the long term, such that crypto policy could one day become bipartisan. But they certainly shouldn’t be forgiven today for years of attacking this technology — or anytime before they have proven they have had a change of heart.

This election, I’m voting for the enemy of my enemy. Donald Trump is the best chance that crypto has for a future, free from an existential threat posed by the U.S. government. This is the only choice crypto voters have.

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