Hello Crypto Fans! 📰
Step right up to the Crypto Weekly Digest, where we’ve got a dazzling array of game-changing news from the blockchain big top!
From the marvels of decentralized IDs to thrilling partnerships and colossal investments, we're serving up the hottest updates in the crypto circus. So grab your popcorn, hold onto your hats, and let's dive into the magic! 🎪✨
Cardano’s sustainability maestro, Alexandre Maaza, is championing decentralized identity (ID) as the Web3 revolution we’ve all been waiting for! Speaking at the Web3 Corporate Innovation Day, Maaza pointed out that blockchain needs practical, non-speculative applications to attract the next wave of users. 🌊
Decentralized IDs let you verify your identity with just a smidgen of data, safely tucked away in your crypto wallet. Think of it as your personal digital passport! 🛂 This could be the "killer app" to welcome millions into the crypto world and save companies from those dreaded data breaches. 🛡️
Decentralized IDs: The future of privacy, security, and Web3 is here! 🔐
MoonPay has just made buying crypto a breeze for folks in the UK and EU by integrating PayPal as a payment option.
Buying crypto is now a breeze, as easy as clicking "Add to Cart." 🛒 This shiny new feature is already live for a select few and will soon be available to everyone. Ivan Soto-Wright, MoonPay's CEO, says this move breaks down barriers and invites more people to the crypto party with ease and trust. 🎊
So get ready because diving into the crypto pool is now as simple as a PayPal click! 💸
Geneva is turning up the heat in the crypto world with the launch of Storm Partners' Web3 innovation sandbox, "Lightningbox." This new playground aims to turbocharge blockchain innovation by providing top-notch tools for developers and startups to experiment and create. Key players like Circle, Hacken, and MultiversX are already on board, contributing their expertise and resources. With a focus on impact, consumer finance, and soon life sciences, Lightningbox is set to make Geneva a leading crypto hub! 💡
But that's not all – the blockchain world is buzzing with more exciting news! Binance’s BNB Chain recently announced an incubation alliance to support early Web3 projects. This new program will offer a 10-week accelerator, grants, and extensive support to budding blockchain ventures, helping them thrive in the competitive market. 🌱
Meanwhile, Manta Network is making a splash with its $50 million ecosystem fund, aimed at accelerating the development of zero-knowledge applications. This fund will provide grants and investments to innovative projects, ensuring their growth and success within the Manta ecosystem. With these initiatives, the blockchain landscape is set for a significant transformation, bringing more innovation and opportunities to the forefront. 🔒
With Geneva at the heart of these developments, it’s clear that the city is poised to become a major hub for blockchain technology, driving forward the next wave of Web3 innovation! 🌐
Bitcoin’s hashrate just hit a bit of a speed bump, breaking an 18-month uptrend and sparking whispers about miner capitulation. But don’t start panicking yet! Despite the dip to 600 EH/s and a price drop from $71,100 to $66,000, it’s not a total disaster. The culprits? Outdated ASIC miners shutting down because they just aren’t profitable anymore. 📉
But here’s the silver lining! 🌤️ Bitcoin mining stocks took off like a rocket after Donald Trump promised to back U.S. mining operations. 🚀 Companies like TeraWulf and Hut 8 Mining enjoyed double-digit gains, as Trump vowed to turn the U.S. into a Bitcoin mining powerhouse. This unexpected boost has miners feeling optimistic, even as they navigate the choppy waters of fluctuating hashrates and energy costs. 🌊💪
Tokenized real-world assets (RWAs) are making waves, reaching a market cap of $8 billion this year, outpacing both Bitcoin and Ether in performance. These digital assets, which include everything from real estate to government bonds, have gained popularity as traditional finance bond yields climbed higher, making them an attractive, lower-risk alternative to traditional DeFi yields.
Leading the charge is BlackRock with its BUIDL fund, now the largest provider of tokenized U.S. Treasurys. With jaw-dropping returns and solid risk-adjusted performance, RWAs are the new hot ticket in the crypto carnival! 🎟️🎪
Mark your calendars, crypto enthusiasts! Bloomberg ETF analyst Eric Balchunas is buzzing with excitement, predicting that spot Ethereum ETFs could start trading in the U.S. by July 2. 🗽 The SEC's light comments on the applications hint that they might just speed things up to get them approved before the Independence Day fireworks! 🎇
While some traders are crossing their fingers for a price surge like Bitcoin's ETF debut, experts like Stephen Richardson are throwing a bit of caution into the mix. Ethereum's complex use cases might not light the same immediate fire. 🔥
But hey, get ready for a potential crypto celebration just in time for the 4th of July! 🎉
Crypto startups have officially raised over $100 billion, a feat achieved in just 10 years, with most of the funds pouring in since the pandemic. From a modest $17.14 million in May 2014 to a whopping $101.35 billion by June 2024, the journey has been a rollercoaster of regulatory hurdles and market swings. 🎢
October 2021 was a record month, seeing over $7 billion in funding. Recent notable investments include $225 million for Together.AI and Wormhole, and $165 million for Swan Bitcoin. It’s clear: the crypto world is booming. Will we see a return to record investments like in 2021? Will the potential of blockchain be recognized once again? 🌕
The Ethereum scaling ecosystem has achieved a new all-time high in transactions per second (TPS), thanks to Xai, a layer-3 solution focused on gaming. On June 16, Ethereum scaling networks hit 246.18 TPS, with Xai alone contributing over 41% of these transactions.🚀
Built on Arbitrum and supercharged by its native token, Xai is here to cut fees and streamline blockchain magic for gamers and developers alike. 🎨🛠️ With exciting games like Final Form and LAMOverse in the works, and Crypto Unicorns migrating to the network, Xai plans to host over 100 games by the end of 2024! 🦄
This layer-3 blockchain offers enhanced scalability and efficiency, making it an attractive platform for game developers.
Xai's approach includes features like account abstraction and higher gas limits to improve user experience. The network's token, used for gas fees, also allows users to stake for rewards and participate in governance, further enriching the gaming ecosystem. 🌐🕹️
If you want to know more, check out our guide! 🧠
A groundbreaking new zero-knowledge proof (ZK-proof) technology called proof of SQL is here to revolutionize data processing, slashing SQL query times from 30 minutes to mere seconds. ⏱️
Launched by Space and Time (SxT), this open-source marvel promises huge efficiency gains for applications requiring real-time data processing. Imagine processing 100,000 rows in under a second! ✨
This is a game-changer for blockchain and AI, enabling smart contracts and AI agents to get trustless SQL query results instantly. As Jay White, SxT's co-founder, says, this tech is set to power a new era of on-chain data processing and open up exciting possibilities for decentralized apps. 📊
Ready to dive deeper into the world of ZK-Proof?
Check out our blog post for more details! 🌐
Binance Labs has invested in Zircuit, a cutting-edge Layer 2 network that combines zero-knowledge rollups with AI-enabled sequencer-level security. 🧠💡 This innovative approach ensures unparalleled protection against smart contract exploits and malicious actors, all while maintaining speed and low costs. ⚡
As Zircuit gets ready for its mainnet debut this summer, it’s already shining bright with over $3.5 billion in staked assets and a bustling ecosystem featuring partners like Ethena and LayerZero. With Binance Labs’ powerful support, Zircuit is on a mission to make Ethereum safer and more efficient for the next billion users! 🔥
Stage, a groundbreaking platform on the BNB Chain, has raised $2.4M to let music fans directly influence the rise of new stars and get rewarded for it. 🎸 Artists upload their performances and compete for stardom, while fans vote for their favorites, earning exclusive rewards like Stage Badges and Real World Asset Badges. 🏅
The platform ensures artists receive 60% of vote proceeds and 10% royalties on badges. Backed by top crypto entities and industry figures, Stage aims to empower both fans and artists, creating a vibrant, interactive music community. Get ready to shape the future of music with Stage! 🎶🎤
Deutsche Telekom, already a big player in the Web3 world, is jumping into the Bitcoin mining game. At BTC Prague, Dirk Röder, head of Web3 infrastructure, playfully dubbed it "digital monetary photosynthesis." 🌱💸
This telecom giant has been buzzing with blockchain activity, running Bitcoin and Lightning Network nodes since 2023. Now, they’re cranking it up a notch, adding Bitcoin mining to their roster. ⚙️
Already active as a Polygon validator and teaming up with Fetch.ai for AI-driven services, Deutsche Telekom is set to harness its infrastructure for new revenue streams and bolster blockchain ecosystems. 📊🔌
Since its launch in April 2024, Bitcoin Runes have taken the lead in network activity, surpassing Ordinals and BRC-20 in transaction share. This new standard for creating fungible tokens on Bitcoin captured over 50% of the network's bandwidth in just 10 days, indicating strong interest from investors. 🎉
On June 10 and 11, Runes dominated with 51% and 53% of the network’s bandwidth, respectively. This surge in activity has boosted Bitcoin miners' revenues, generating nearly 2,500 BTC since launch. As Runes continue to gain traction, they're reshaping the dynamics of Bitcoin's blockchain! 🚀
Asymmetry Finance has teamed up with Ampleforth to launch afUSD, a new synthetic dollar that aims to rival Ethena's USDe. Unlike traditional stablecoins, afUSD uses an elastic supply mechanism to stabilize prices, adjusting the supply based on market conditions without the need for collateral. 💸
This innovative approach promises enhanced security and scalability, making it a strong contender in the growing market for digital dollars. Asymmetry believes their model avoids the pitfalls of past algorithmic stablecoins like TerraUSD, offering a robust and decentralized alternative. Get ready for a new era in stablecoins! 🔄
Attention, Vulcanites! 📣 Vulcan Forged is bringing the heat with some exciting news! They’re launching their very own centralized exchange (CEX) called VulcanX, where every trade sizzles. This new exchange is set to revolutionize the trading experience for all Vulcan enthusiasts.
On VulcanX, you can expect a wide variety of trading pairs featuring $LAVA, the ecosystem’s native token. But that's not all - VulcanX is designed with the community in mind, offering revenue sharing with $PYR holders. This means that by holding $PYR, you’ll earn a share of the exchange's revenue, adding another layer of value to your investment.
In addition to the financial perks, VulcanX will also introduce governance with $PYR, giving the community a voice in the exchange's future developments and decisions. This democratic approach ensures that VulcanX grows in a direction that benefits all its users.
And while we're on the topic of Vulcan, check out Rebel Cars! Mark your calendars for July 4th, because the RC NFT Marketplace is going live! 🗓️🏁
They launch on Vulcan Forged, specifically on Elysium, Vulcan’s new blockchain. Get ready to explore and own the first batch of cars and race tracks. 🚗💨 Which car do you want to see first on our marketplace? Buckle up for a thrilling ride with Vulcan Forged! 🏎️🌟
REVOX.ai, the modular AI network, has secured $6 million in its latest funding round, attracting big names like SevenX Ventures and Cointelegraph Acceleration. REVOX aims to build a decentralized AI Agent network and dApps, transforming the way information is shared across Web3 and beyond. 🌐
With flagship applications like ReadON DAO and ShareON already boasting over 4 million users, REVOX is making waves in emerging markets, even surpassing Google News in Nigeria and Indonesia. Now, users can join the excitement by earning airdrop points through the Web3 GPT tool at lense.revox.ai. Get ready for the future of AI on the blockchain! 💡
Azuro, the champion of onchain sports and entertainment prediction markets, is teaming up with Olas to bring some serious AI muscle into the game. 🤖💪 With Olas' autonomous AI agents, Azuro's new AI will crunch mountains of data to make spot-on predictions, making the whole ecosystem even more awesome for everyone.
With over $350 million in transaction volumes and $3M+ in protocol revenue, Azuro is growing insane! 🚀 This AI integration kicks off a new era in market analysis, with potential to go beyond sports into political forecasting and entertainment events. 🎬🗳️
OpenAI is reportedly considering a shift from its current capped-profit model to a full for-profit structure, as CEO Sam Altman reshapes the board. This potential change could see the nonprofit board losing control, aiming to attract more substantial investments in AI research.
The board now includes high-profile figures like former NSA director Paul Nakasone, sparking strong reactions from figures like Edward Snowden, who warns against trusting OpenAI's motives. With a valuation of around $86 billion, this move marks a significant pivot for the AI giant. Stay tuned for more updates! 🔎
And that's a wrap for this week’s edition of Crypto Weekly Digest! 🎬
We hope you're just as pumped as we are about the amazing innovations and news shaking up the crypto world. 🌍
From the game-changing potential of decentralized IDs to the super-easy crypto buys with PayPal, and the advancements in AI and blockchain, the future is looking seriously bright!
Stay tuned for more awesome updates and insights in our next edition. Until then, keep exploring, investing, and having fun in the crypto universe. 🚀💸 Happy trading and see you next week! 👋
