✨PayPal’s PYUSD market cap hits $500m after Solana expansion✔️
🟢Ever since Paypal joined the Solana (SOL) ecosystem, the volume for its stablecoin has exceeded 300 million weekly trades. PayPal’s PYUSD stablecoin’s weekly transaction volumes have soared to over $500 million, a notable increase from its previous volume of $150 million. This surge follows Paypal’s PYUSD’s expansion to the Solana blockchain in May, leading to a 90% increase in its market supply, which now surpasses half a billion dollars.
🟢According to DeFiLlama, PYUSD’s total supply across Solana and Ethereum stands at approximately $534 million. A detailed breakdown reveals that 74% of this supply is on Ethereum, while the remaining 25% is on Solana.
$SHIB Inu update: Key indicators forecast up to 45% price drop – What now?📉
📌The mean coin age began to trend downward in the final week of May, showing $SHIB Inu distribution.
Shiba Inu [$SHIB ] posted a 38% price bounce from the lows over the past two days but could not scale the former support level at $0.0000178, which now acted as resistance. This could see the prices dive deeper.
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Known in the cryptocurrency investment space, Hashdex previously aimed to launch a spot Ethereum ETF but retracted the proposal due to high competition. This new ETF proposal marks a strategic pivot towards a combined Bitcoin-Ethereum focus. The planned allocation is 70.54% in Bitcoin and 29.46% in Ethereum, reflecting a balanced approach to these leading cryptocurrencies.
🟢Why is Hashdex Changing Its Strategy?
Hashdex intends to implement strong security measures in partnership with Coinbase Custody Trust Company and Bitcoin Trust for asset safekeeping. By including both Bitcoin and Ethereum, Hashdex aims to appeal to a wider range of investors seeking diversified cryptocurrency investment options. The SEC’s final decision will also consider public feedback, which could influence the timeline based on the scrutiny received.
July is here, and everyone in the crypto community is anxiously watching $BTC .This month is set to bring some major changes, and not necessarily the kind we all hope for🚨
Shiba Inu ($SHIB ) Rival Issues Major Scam Alert: What Happened?
Floki Inu ($FLOKI ) has issued a strong warning to its community, letting investors know about potential scams targeting the popular meme token. Thus, the official X account posted a notice on its official channels, saying that scammers are saying that Floki tokens are available on platforms like Base or $SOL when they are not. Floki Inu is reminding everyone to be on their guard. They say that their token can only be traded on the Binance and Ethereum blockchains. They have also given out the contract addresses for verification. The announcement comes as concerns are rising about fraud in the crypto space. Scammers often create fake tokens with names, symbols, or addresses that look like legitimate projects. They use these tactics to deceive unsuspecting investors, sometimes even sending small amounts of fake tokens to wallets to make them look legitimate. Despite these challenges, there is a positive development in the broader crypto landscape. Recent reports indicate a decline in cryptocurrency-related scams throughout 2023. According to Chainalysis, a prominent blockchain data platform, scam-related revenues saw a notable decrease of 29.2% compared to the previous year. This decline reflects improved awareness among investors and enhanced security measures by crypto platforms. On the other hand, while crypto scams have slowed down, other forms of cybercrime like ransomware attacks and darknet market activities involving cryptocurrencies seem to be on the rise.
$APT Foundation and Alibaba Cloud Launch Alcove: Asia’s First Move Developer Community
The Aptos Foundation and Alibaba Cloud Launch Alcove: Asia’s First Move Developer Community Aptos Foundation has partnered with Alibaba Cloud to enhance Japan’s Web3 ecosystem and boost regional accessibility in the Asia-Pacific (APAC) region by launching Alcove. As part of the Alcove initiatives, Aptos Foundation, alongside OKCoin Japan and Alibaba Cloud, will host a series of events including a Move developer meetup and hackathons to empower developers... $APT
Ripple Labs, the famous blockchain firm, is dealing with heavy regulatory pressure in the United States of America. Amid this trouble, the crypto company is moving ahead to launch its own stablecoin. In the latest interview on “The Scoop”, Ripple President Monica Long talked about the stablecoin (RLUSD) and the potential launch of an $XRP exchange-traded fund (ETF).