Ethereum's supply has been inflating since mid-April, with over 112,000 ETH added to the overall supply. This inflationary trend is believed to be a result of the Dencun upgrade in March, which introduced nine Ethereum Improvement Proposals (EIPs), including EIP-4844. This EIP introduced "blobs," a mechanism that allows transaction data to be stored separately, reducing fees for block data on Ethereum layer 2 networks. Despite the recent inflation, the total supply of ETH has decreased significantly since The Merge in 2022, with more than 1.5 billion ETH burned and an overall supply reduction of 345,000 ETH, worth over $1.1 billion.

Rock on, or rock gone wrong? Metallica's official X account seems to have been hacked, with the culprits using the breach to promote a Solana token named METAL. The token was first announced on the band's account on June 26, claiming a partnership with Ticketmaster. However, Ticketmaster has yet to confirm this partnership. The band's website, which was linked in a post promoting the token, contains no information about it. Claims of a collaboration with fintech firm MoonPay have also been made, but MoonPay has yet to comment. Stay tuned for more updates on this headbanging story!

Brazilian neobank Nubank has teamed up with payments platform Lightspark to bring Bitcoin Lightning Network to its 100 million customers in Latin America. The integration is part of Nubank's plan to offer faster, cheaper transfers via blockchain. Lightspark, co-founded by former PayPal president David Marcus, will also integrate the Universal Money Address standard, a payment system built on top of Lightning. Nubank, backed by Warren Buffet’s Berkshire Hathaway, offers trading of 14 cryptocurrencies and recently announced it would allocate 1% of its net assets to Bitcoin.

Nebraska Rep. Mike Flood has played a crucial role in shaping cryptocurrency policy in Congress, co-sponsoring two key pieces of legislation. The Financial Innovation and Technology for the 21st Century Act (FIT21) and a proposal to repeal the Securities and Exchange Commission rule known as SAB-121 have both received bipartisan support. FIT21 allows cryptocurrency projects to certify their tokens as commodities, moving them from the SEC's regulatory purview to the Commodity Futures Trading Commission. Flood's focus on the crypto industry stems from his time in the Nebraska Legislature Banking Committee, where he developed the Nebraska Financial Innovation Act.

Memecoins have dominated the cryptocurrency industry in the first half of 2024, recording a whopping 1,834% returns. The real-world asset tokenization sector followed, returning 214% to investors, while AI blockchain projects and decentralized physical infrastructure networks (DePIN) returned 72% and 59% respectively. Bitcoin and Ether also performed well, with 45% and 50% returns. Layer-1 platforms averaged 43% returns, while gaming and decentralized finance sectors lagged behind but still managed modest returns. However, the layer-2 sector saw a significant decline, with losses averaging 41%. The Solana network played a significant role in the rise of memecoins, with 541,000 new token projects minted in May alone.

In this election year, U.S. politicians are using cryptocurrency as a tool to divert attention from less favorable issues. Republicans may oppose central bank digital currencies or equate Bitcoin with financial freedom, while Democrats might link crypto transactions to terrorism financing or support digital assets. Florida Representative Matt Gaetz, under investigation for obstruction, has introduced a bill requiring the IRS to accept Bitcoin for tax payments. Former President Donald Trump, facing legal challenges, has launched an NFT collection and announced his campaign will accept crypto donations. Current President Joe Biden, dealing with domestic and international issues, is reportedly considering a shift in crypto strategy.

Former CEO of Hydrogen Technology Corporation, Michael Kane, has been sentenced to 45 months in prison for securities fraud linked to a cryptocurrency price manipulation scheme. Shane Hampton, the company's ex-Head of Financial Engineering, received a 35-month sentence for similar crimes. This marks the first time a federal criminal trial jury has classified a cryptocurrency as a security and deemed its price manipulation as securities fraud. The SEC filed a lawsuit against Kane and Hydrogen Technology in 2022, alleging a scheme manipulating the volume and price of the company's Hydro token.

Ava Labs, the firm behind Avalanche blockchain, is set to offer intellectual property management solutions to K-pop artists in South Korea. The K-pop industry is expected to hit a $20 billion valuation by 2031, including ticket sales, sponsorships, and merchandising. Blockchain technology could provide transparency and efficiency for artists who are often underpaid by recording companies. This solution also addresses underreporting of ticket sales by venues and ticket processing companies. Blockchain platforms like Overlai and Audius are already helping visual artists and musicians protect their intellectual property rights and manage digital rights.

Bitcoin's price dipped to a six-week low on June 24, but bounced back above $62,000 within 24 hours. The $60,000 zone acted as a support, sparking buyer interest. Analyst Jelle predicts a rise to $63,500 by the end of the week if the current trend continues. The recent dip was partly due to selling pressure from the defunct crypto exchange Mt. Gox, which announced plans to repay its creditors in Bitcoin and Bitcoin Cash in July. Meanwhile, "Rich Dad, Poor Dad" author Robert Kiyosaki views the dip as a buying opportunity. The $60,000 to $64,000 range is a key support level that traders are watching closely.

Heads up, crypto enthusiasts! Ethereum layer-2 Blast network is set to reward its early adopters with an airdrop on June 26. A whopping 17% of the total supply will be distributed, with 7% going to users who bridged either Ether or US Dollar Blast to the network. Another 7% is earmarked for those who contributed to DApps on Blast, while 3% will go to the Blur Foundation for future airdrops. Top 1,000 wallets will vest part of their airdrop for six months, meaning they can't sell all their tokens immediately. The Blast network, the fourth largest Ethereum layer-2 network, has a total value locked of over $2.9 billion. Stay tuned for more updates!

Crypto markets are experiencing a liquidity crunch as the supply growth of Tether (USDT) stablecoin has dropped significantly in June. The month-on-month supply grew less than 1.5%, a stark contrast to the over 5% growth seen in April and May. This indicates less money is flowing into the crypto markets as Bitcoin and Ethereum face downward pressures. Bitcoin markets have also seen substantial daily outflows, with more than $540 million leaving the market last week. The ongoing downward in global growth forecasts and rising recession risks could continue to challenge Bitcoin's price.

CoreWeave is expanding its deal with Bitcoin miner Core Scientific, adding an extra $1.225 billion to the earlier agreement. Core Scientific will now provide 70 MW of infrastructure for CoreWeave in Austin, Texas, starting in the second half of 2025. This is in addition to the 200 MW agreed upon in June, which was worth $3.5 billion over 12 years. CoreWeave will fund the necessary capital investments. Core Scientific is also exploring AI for additional revenue, following the latest Bitcoin halving.

Despite the impending launch of a spot Ether (ETH) ETF, ETH's price has dipped to its lowest in over a month, with analysts suggesting limited upside potential. The broader economic climate and high Ethereum network fees are believed to be contributing factors. Experts predict that the Ethereum ETFs could attract between $1 billion and $2 billion initially, but the asset's revenue is considered "minuscule" compared to its market cap. The Ethereum network also faces challenges from competing blockchains like BNB Chain and Solana. Despite these hurdles, Ethereum remains the leader in total value locked and decentralized application volumes.

VanEck has filed form 8-A for its Ethereum exchange-traded fund (ETF) with the United States Securities and Exchange Commission (SEC), moving it closer to trading. Bloomberg ETF analyst Eric Balchunas predicts the ETF could be available as early as July 2024, based on a lack of significant commentary from SEC staff on the ETF applicants' S-1 filings. However, SEC Chair Gary Gensler suggests it could take until September 2024. The approval of the Ethereum ETF is seen as a surprise and a departure from current policies, potentially influenced by the upcoming 2024 elections and the growing influence of pro-crypto voters.

AI's rapid advancement has sparked discussions about its governance, particularly in relation to deepfakes and identity validation. Cryptocurrency and blockchain technologies may offer solutions. For instance, blockchain's immutable ledgers could validate the authenticity of media content, while digital identity infrastructure based on biometric authentication and zero-knowledge proofs could offer robust identity validation. Furthermore, AI agents capable of complex actions on behalf of humans may soon enter the market. Stablecoins, with their one-to-one parity with USD, could facilitate financial transactions involving these AI agents. Policymakers are urged to embrace these technologies to guide AI towards beneficial ends.

Solana's Colosseum has secured $60 million in funding for its first fund, aimed at expanding its accelerator program for startups. The funds will be used for pre-seed investments in teams accepted into the program, which aims to attract more developers and startups to the Solana ecosystem. Colosseum, an independent organization, has been leading Solana's hackathons since January 2024 and has seen participants launch 4,000 products and raise over $600 million in venture funding. The Solana ecosystem currently boasts over 2,500 monthly active developers on open-source repositories.

Bitcoin (BTC) has bounced back to $62,000 on June 25, showing signs of recovery after a shaky week. The cryptocurrency had hit a seven-week low of $58,500, triggering a wave of sell-offs. The Relative Strength Index (RSI) for Bitcoin also hit its lowest since August 2023. Trading resource CoinGlass reported that total BTC long liquidations for June 24 were just under $150 million. Trader Daan Crypto Trades suggests a target of $65K in the short term. However, ongoing strength for the U.S. dollar could pose a challenge for Bitcoin's recovery.

Decentralized cloud infrastructure provider Aethir has partnered with MetaGravity, the creators of the HyperScale Engine, to boost the development of decentralized physical infrastructure networks (DePIN). The collaboration aims to revolutionize the 3D internet and gaming industry by creating a scalable, efficient, and accessible infrastructure. Using MetaGravity's HyperScale Engine and Aethir's Instaplay pixel streaming solution, the partnership plans to overcome the historical limitations of online gaming. The long-term goal is to accelerate the adoption of DePINs for gaming, paving the way for a more immersive and sustainable future for the gaming industry.

Iceland's crypto industry is making progress but has yet to fully exploit its unique advantages, says Gulli Gislason, CIO at Viska Digital Assets. The 2008 banking crisis opened Icelanders' eyes to cryptocurrencies, and interest grew when the country's own Satoshi Nakamoto, Baldur Friggjar Óðinsson, airdropped Auroracoin to the national population. Although Viska Digital has been managing crypto funds for two years, Gislason believes Iceland is still in the early stages of crypto adoption and education. However, the country's wealth of renewable energy makes it ideal for Bitcoin mining. Gislason is optimistic about the future, as he sees the industry becoming more mainstream.

Farmville creator Amitt Mahajan believes that releasing blockchain games in stages leads to a better final product. He argues that this approach allows for valuable feedback from gamers and helps build a community around the game. Mahajan's latest game, Pirate Nation, has just launched its native token $PIRATE to reward loyal players. Meanwhile, former Activision Blizzard VP Sam Saliba suggests that blockchain games should be marketed as entertainment products, not tech products. He also believes that crypto rewards are not crucial to blockchain games, as most players prioritize fun and engagement over financial incentives. In other news, the Polygon blockchain-powered gaming platform Arc8 offers a range of online games where players can earn GAMEE tokens.