According to CryptoPotato, stablecoins have experienced substantial growth this year, with USDT leading the pack. However, other stablecoins like the Circle-backed USDC are also witnessing considerable activity. Recent deposits of USDC to centralized crypto exchanges could indicate investors capitalizing on lower cryptocurrency prices during recent market corrections.

Lucan Outumuro, Head of Research at IntoTheBlock, reported that USDC's net inflow into centralized crypto exchanges hit a one-year high of $228 million on June 24. This increase suggests that investors are depositing stablecoins to take advantage of lower cryptocurrency prices. CryptoQuant co-founder Ki Young Ju further validated this trend, noting that while the stablecoin market is growing, its ratio to Bitcoin's market mirrors previous all-time highs. The exchange reserves ratio also suggests that stablecoins have already been used as buy-side liquidity, implying that new inflows are needed for stablecoins to drive the next market upswing.

Despite Bitcoin's disappointing trajectory over the past month, these declines may present unique long-term buying opportunities for market players. Indications of recovery include the US spot Bitcoin ETF's minor inflow of $31 million, reversing the week-long outflow streak. On the technical side, Bitcoin's RSI has moved from heavily oversold levels to around 33, suggesting significant potential for growth for the world's largest digital asset. Experts also suggest the formation of a hidden bullish divergence for Bitcoin on the daily RSI, indicating that the asset could potentially be on the cusp of a bullish breakout.

According to CoinDesk, Marathon Digital, a Bitcoin miner, has diversified its mining revenue by mining the layer 1 protocol Kaspa. Since September 2023, Marathon has mined 93 million KAS tokens, currently valued at approximately $15 million. The company has brought 30 petahash worth of machines online for Kaspa mining, with plans to start 30 more by the third quarter.

Kaspa uses a proof-of-work consensus mechanism known as the GHOSTDAG protocol. Unlike Bitcoin, this protocol allows for the simultaneous production of multiple blocks, resulting in faster transactions and more block rewards for miners. 'By mining Kaspa, we are able to create a stream of revenue that is diversified from Bitcoin, and that is directly tied to our core competencies in digital asset compute,' stated Adam Swick, Marathon’s chief growth officer.

The price of the Kaspa token has seen a nearly 50% increase this year, while Bitcoin has seen a 44% rise. The broader CoinDesk 20 index has risen nearly 16% in the same time period. Marathon began mining Kaspa last year after bringing its first mining computer online. The company has purchased 60 petahash worth of mining machines capable of generating profit margins of up to 95%. Currently, Marathon has 30 mining rigs operational in its Texas sites, with the remaining rigs expected to be online by the third quarter.

In the wake of the crypto winter and recent halving, Bitcoin miners have been seeking ways to diversify their revenue. Many have pivoted to using their current infrastructure for artificial intelligence and other computing needs. Some miners, including Marathon, have chosen to monetize other layers of Bitcoin to generate additional revenue.

According to CoinDesk, cryptocurrency investment platform Abra and its CEO, William 'Bill' Barhydt, have reached a settlement with 25 state financial regulators over operating without the necessary money transmitting licenses. As part of the settlement, Abra has agreed to return up to $82.1 million in cryptocurrency to its U.S. customers in the settling states. The company will also cease accepting crypto allocations from all U.S. Abra Trade customers and halt all cryptocurrency transactions for these customers.

Barhydt has agreed not to be involved in any money transmitting or money services business in any of the 25 settling states, except as a passive investor, for a period of five years. The settlement includes states such as Washington, Arkansas, and Connecticut. This settlement is in addition to Abra's settlements with certain state securities regulators, including New Mexico and Texas, for selling unregistered securities.

The Conference of State Bank Supervisors (CSBS) announced the settlement, with CSBS Chair and Washington State Department of Financial Institutions Director Charlie Clark stating that companies not operating within state laws will be held accountable. The CSBS also revealed that state money services business regulators were alerted about Abra by state securities regulators last summer, leading to the settlement.

An Abra spokesperson stated that the company is pleased to enter into a term sheet negotiated with a working group from the Money Transmitters Regulators Association regarding the Abra App. The consent orders will settle all state matters related to the Abra App in the U.S. for the period from March 2021 to June 2023. Since June 2023, 99% of assets held by U.S. retail customers of Abra using the Abra App have already been returned, amounting to over $250 million. Abra continues to operate in the United States through Abra Capital Management, an SEC-registered investment advisor, that allows clients to invest in crypto, earn yield, stake and borrow against their crypto holdings. Additional states are allowed to join in the multi-state settlement.

On Jun 26, 2024, 19:55 PM(UTC). According to Binance Market Data, Ethereum has crossed the 3,400 USDT benchmark and is now trading at 3,404.47998 USDT, with a narrowed narrowed 0.39% decrease in 24 hours.

According to BlockBeats, Bancor, an open-source DeFi protocol ecosystem, announced on June 27 that it has expanded its permissionless arbitrage trading bot, Arb Fast Lane, to the Linea network. The bot is now officially live, marking the first of its kind on the Linea network.

Arb Fast Lane identifies and executes complex arbitrage trades using markets created by the licensed Carbon DeFi deployment and its surrounding infrastructure. This expansion is a significant step for Bancor as it continues to broaden its reach and influence in the DeFi sector.

The integration of the Arb Fast Lane bot into the Linea network is expected to enhance the trading experience for users by providing them with more opportunities for arbitrage trading. This move also signifies Bancor's commitment to improving its services and expanding its user base.

The permissionless nature of the Arb Fast Lane bot allows it to operate without the need for explicit approval, making it a valuable tool for traders looking to take advantage of arbitrage opportunities in the DeFi market. The bot's expansion to the Linea network is a testament to Bancor's innovative approach to DeFi trading and its dedication to providing its users with the best possible trading tools and services.

According to BlockBeats, the daily expenses of pump.fun have seen a significant decrease of 30% from the week of June 10th to 14th to June 27th. The platform's daily expenses dropped from approximately $870,000 to around $605,000.

This decrease is likely due to the adverse effects of broader market conditions and a 2.21% drop in SOL prices within the week, leading to a general decrease in risk preference among users. A significant decrease in risk preference is particularly important for platforms like pump.fun, which represents the most extreme point in the industry's risk curve.

The assets involved and deployed on the platform usually have the most speculative nature, attracting participants hoping for quick profits. However, when the market deteriorates, they also quickly withdraw to avoid risk.

Furthermore, compared to the previous week, the significant decrease in income indicates a reduction in the deployment and overall activity of tokens. This could suggest that the platform and the tokens it hosts have reached a saturation point. With the excessive deployment of new coins, demand and attention may have reached a level that the platform cannot keep up with the deployment of new coins.

According to BlockBeats, Osmosis, a prominent player in the blockchain industry, has recently reduced its block time to approximately 1.5 seconds. This significant update requires validators to upgrade to the latest version to ensure smooth operations.

In addition to the block time reduction, Osmosis has also launched BURN and Alloyed USDT (allUSDT) on its decentralized exchange (DEX). These new features are expected to enhance the user experience and provide more options for traders on the platform.

Over the next few weeks, Osmosis DEX is set to roll out a new deposit/withdrawal user interface (UI). This update is anticipated to make transactions more user-friendly and efficient, further solidifying Osmosis' position in the market. The exact date of the new UI release has not been specified yet, but users are advised to keep an eye out for updates from the company.

According to BlockBeats, the Eigen Foundation has allocated its first strategic grant to the Celo Foundation on June 27. This allocation is aimed at supporting the use of EigenDA in Celo Layer 2.

In July of the previous year, cLabs first proposed the idea of migrating Celo from EVM-compatible L1 at EthCC and suggested the use of EigenDA. The migration to L2 with EigenDA helps to avoid the high costs associated with native Ethereum storage, thus maintaining Celo's extremely low transaction fees.

The strategic grant from Eigen Foundation to Celo Foundation marks a significant step in the development and implementation of Celo Layer 2. The use of EigenDA in this layer is expected to enhance the efficiency and cost-effectiveness of transactions, further strengthening the Celo ecosystem.

According to BlockBeats, Crypthulhu Studios, the developer behind the blockchain game Dimension X, is set to launch a new blockchain-based turn-based battle royale game, Arena Boyz. The game is developed on the Flow blockchain.

Crypthulhu Studios had previously announced in July 2022 that it had successfully raised $3 million in funding. The funding round was led by Coatue and Dapper Labs. The studio's upcoming game, Arena Boyz, is expected to further expand the studio's presence in the blockchain gaming industry.

According to BlockBeats, the Securities and Exchange Commission (SEC) of Nigeria has issued a directive to cryptocurrency exchanges and digital asset traders. They have been given a 30-day window to re-register their businesses or risk facing enforcement action. This announcement is part of Nigeria's plan to regulate digital asset trading. The SEC has stated that the new registration is aimed at modifying its rules regarding the issuance of digital assets, platform provision, exchanges, and the custody of Virtual Asset Service Providers (VASP).

The commission made this known in a statement on its website. It stated that 'All operating and potential VASPs must visit the SEC electronic portal website and complete the application process within 30 days from the date of this notice.' This move is seen as an effort by the Nigerian SEC to regulate the burgeoning cryptocurrency market in the country and ensure compliance with financial regulations. The directive is expected to bring more transparency and accountability to the digital asset trading sector in Nigeria.

According to BlockBeats, Pyth Network announced on June 27 that it has launched a BLAST/USD oracle feed. The real-time price information of the BLAST/USD pair can now be accessed on more than 65 blockchains. This development marks a significant step for Pyth Network in expanding its services and providing real-time price information for a wider range of digital assets.

The BLAST/USD oracle feed will provide users with accurate and up-to-date price information, which is crucial for many blockchain-based applications and services. This move by Pyth Network is expected to enhance the overall functionality and user experience of these applications and services by providing reliable and real-time price data.

This announcement by Pyth Network is part of its ongoing efforts to improve and expand its services. By providing real-time price information for the BLAST/USD pair on a wide range of blockchains, Pyth Network is demonstrating its commitment to meeting the needs of its users and contributing to the growth and development of the blockchain industry.

According to BlockBeats, Astar Network has announced that its zkEVM mainnet will undergo maintenance on June 27. The maintenance period is scheduled between 21:00 and 23:00, during which the zkEVM mainnet will be unavailable for use.

The team is conducting this maintenance to migrate the network to a new infrastructure and ensure the success of the migration. Last week, a similar migration of the Astar zkEVM testnet, known as zKyoto, was successfully completed. Once the maintenance is completed, the zkEVM mainnet will promptly be brought back online.

According to BlockBeats, an Open AGI Summit was held at EthCC on June 27, featuring discussions from Polygon, Eigenlayer, and Sentient on the issues of open and closed AI. Sandeep Nailwal, co-founder of Polygon and Sentient, elaborated on the critical juncture faced by humans and centralized AI. He advocated for the use of blockchain to create an open world, promoting transparency and fairness, as opposed to a closed world dominated by large corporations.

Nailwal further stated that the rapid development of centralized AI and its integration into daily life has brought humanity to a crossroads between two future worlds. On one hand, we can choose a closed world, controlled by a few closed-source models operated by large corporations. On the other hand, we can opt for an open world, where models are open-source by default, and inferences are verifiable. The open world is the world we want to live in, but it can only be achieved by using blockchain to make AI more transparent and fair.

According to BlockBeats, analysts have predicted that the core PCE inflation for May will record the slowest increase this year, which is good news for policy makers.

The continuous decline in gasoline prices and the general decrease in commodity inflation will limit economic growth. However, this may only provide a temporary respite for the Federal Reserve, as expenditure categories with sticky inflation continue to put upward pressure on inflation indicators. It is expected that an unfavorable base effect will occur in the second half of this year.

Analysts estimate that the core PCE monthly rate will slow down to 0.10% in May, the lowest level this year. The annual core PCE should drop to 2.6%, the lowest level since March 2021. In addition, the overall PCE monthly rate will barely approach 0.1%, and the year-on-year growth rate will reach 2.6%.

According to BlockBeats, L2 Network Base announced on June 27 that it has added new features to keep its users updated about its status. The new features include event and maintenance update subscriptions via email, text messages, and Slack. This move is aimed at ensuring that users can always stay informed about the status of Base in a timely manner. The company has not provided further details about these new features or when they will be fully implemented. This announcement comes as part of L2 Network Base's ongoing efforts to improve its services and user experience.

According to CoinDesk, the digital assets market is witnessing a significant transformation in 2024, with tokenization becoming a powerful new force. The entrance of heavyweights like BlackRock into the market is fueling this momentum, leading to a surge in the Total Value Locked (TVL) of these assets. This rise indicates an increase in investor demand, confidence, and interest, marking a new phase of adoption following the widespread acceptance of stablecoins in recent years.

However, the tokenized assets market is not without its challenges. Traditional financial investors remain wary about product structuring and face liquidity issues in secondary markets. The complexity of trading and monitoring these digital assets post-issuance, coupled with the need for robust risk management processes, deters potential investors. For tokenized assets to gain broader acceptance, they must establish a robust infrastructure and provide a transparent product lifecycle.

As the market supply progresses along the adoption curve, the lack of data availability, data analytics, and data quality significantly complicates the implementation of structured due diligence and monitoring processes for investors. This leads to varying risk exposures throughout the lifecycle of tokenized assets. These risks are evident in the creation of new assets, modifications to asset characteristics, the contractual terms of issuance, trading, custody, and the valuation of underlying assets. Investors need to understand the potential risks along the value chain and the intermediaries involved to mitigate risks and increase trust.

Effective risk management involves continuous evaluation of technical infrastructure, compliance with evolving regulations, and stringent security measures for smart contracts. Clear property rights, secure custody of private keys, and accurate valuation through high-quality oracle services are also crucial. The integration of red-flag detection systems that leverage both on-chain and off-chain data, along with constant price discovery mechanisms, further enhances integrity and trust.

The tokenized assets market is advancing rapidly, attracting increased interest from traditional financial investors due to innovative value propositions with new products and customer segments. However, significant challenges remain. Investors need to implement additional risk management processes, while specialized data providers and rating agencies are crucial for providing independent assessments. Through diligent oversight, monitoring, and continuous evaluation, these stakeholders can ensure the market develops securely, transparently, and in an investor-friendly manner, ultimately leading to broader adoption and integration into the global financial system.

According to CoinDesk, Non-fungible tokens (NFTs) have continued to make a significant impact on global industries, despite a market downturn that led many to prematurely declare the technology 'dead'. The NFT market has seen sales volumes reach nearly 200,000 NFTs, valued at over $191 million per day. Despite some NFT markets experiencing a decline of over 90%, the technology continues to be a game-changer.

NFTs are not just internet culture toys, as some may perceive due to high-profile projects like CryptoPunks and Bored Apes. They are a revolutionary way of recording who holds rights to an asset. NFTs can certify ownership and authenticity, and they come with many features of blockchains such as interoperability, secure transfer, and verification. The NFT industry has created a property rights system that is available 24/7/365 to anyone, anywhere at a fraction of the cost of traditional systems, and conveys uniqueness to any asset including digital files.

The assets and the rights that can be conveyed through NFTs are virtually limitless. They are changing what’s possible and reshaping existing industries. For instance, in the world of digital art and collectibles, NFTs provide artists and IP holders a means to create a verifiably unique or distinct digital item, unlocking new avenues for monetization. The holder of an NFT receives rights that can include ownership, usage, and resale of the digital work.

The financial world is also embracing tokenization. NFTs offer more efficient and accessible markets for traditional financial instruments with transparent ownership and instant settlement. They are also being used to represent carbon credits, ensuring authenticity and helping combat climate change while adhering to regulatory standards.

NFT technology is revolutionizing various sectors including music, video, ticketing, gaming, trade finance, luxury goods, identity, private credit, AI, physical goods, and even vehicle registries. Just as the early days of the Internet brought about transformative changes, NFTs are reshaping the world with the same transformative power, creating unprecedented innovation and economic possibilities.

On Jun 26, 2024, 17:05 PM(UTC). According to Binance Market Data, BNB has dropped below 570 USDT and is now trading at 569.200012 USDT, with a narrowed 0.99% decrease in 24 hours.

According to BlockBeats, the launch date of the Ethereum spot ETF is entirely in the hands of the Securities and Exchange Commission (SEC). This comes after the last round of S-1 modifications were deemed 'minor', allowing the SEC to contact the issuer at any time to inform them of the fund issuance date. This means that the issuer hardly expects any additional comments from the SEC.

A second source familiar with the ETH fund documents noted that although the issuer has not received more comments from the SEC after the latest S-1 adjustments, there could be at least one more round of reviews. The source added, 'The timetable for the launch is still unclear, but we reasonably expect it to be launched within the next two to three weeks.'

According to BlockBeats, the Tron network has seen a steady increase in daily active addresses since the beginning of the year, currently nearing 2.5 million. This places it at the top of the Layer 1 network rankings.

The Tron network, a decentralized platform aimed at sharing digital content, has been experiencing a significant rise in user activity. The number of daily active addresses, a key indicator of network usage, has been on a steady upward trajectory since the start of the year. As of June 27, the number of active addresses has approached 2.5 million, marking a significant milestone for the network.

This surge in activity has propelled Tron to the top of the Layer 1 network rankings. Layer 1 networks are the underlying main blockchains, such as Bitcoin or Ethereum. They are the foundation of the decentralized web, supporting a variety of applications and services. Tron's position at the top of this list indicates its growing popularity and usage in the blockchain community.

The increase in daily active addresses suggests that more users are interacting with the Tron network, either by sending transactions, using applications, or participating in the network's governance. This growth in user activity is a positive sign for the network, indicating a healthy and active user base.

However, it's important to note that while the number of daily active addresses is a useful metric for gauging network activity, it doesn't necessarily translate to an increase in the value of the network's native token. The value of a blockchain network is determined by a variety of factors, including the number of users, the volume of transactions, and the quality of the applications built on it.