Author: Coindesk
“Since we first entered app stores in select states last summer, we have exhibited strong momentum across all fronts, including new digital fund launches, payment capabilities, and collaboration with regulators,” Will Peck, head of digital assets at the firm, said in a press release. Read the full article here
KOL arrangements are “a win for protocols, a win for KOLs, but a heavy loss for retail,” said Muur, the influencer who said she doesn’t take these deals. “These deals are not properly disclosed in most cases, so the community doesn’t know about KOL rounds and its vesting terms,” she lamented, expressing a sentiment echoed by other insiders. Read the full article here
Much of the crypto sector has been apprehensive about the ribbon cutting on Prometheum’s custody and trading operations, which the firm said will fully comply with U.S. Securities and Exchange Commission (SEC) demands. The doors have so far stayed shut well past the target date, but the company explained it’s still finishing a process for auditing smart contracts. Read the full article here
Ether was a deflationary asset following the Merge, with the total supply of the token dropping from 120.491 million to 120.097 million since September 2022. However, the total amount of fees burned decoupled from network activity following Dencun, meaning that the natural increase in supply is outpacing the amount burned in fees. Ether’s supply has thus increased by 400,000 tokens since April. Read the full article here
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The crypto lending sector imploded in 2022 alongside dwindling asset prices, spurring lenders including Celsius, BlockFi and Genesis to file for bankruptcy. Centralized lenders such as Ledn are only just starting to shake off negative sentiment left by their demise. Lending in decentralized finance (DeFi), meantime, continued to boom, with the likes of Aave accumulating $10 billion in total value locked (TVL). Read the full article here
VanEck subsidiary MarketVector has started an index based on the performance of the top six meme coins. The MarketVector’s Meme Coin Index, which trades under the symbol MEMECOIN, is up 195% on a yearly basis. For comparison, the CD20 is up 97% during the same period. MEMECOIN tracks Dogecoin, Shiba Inu, Pepe, dogwifhat, Floki Inu and BONK, which account for nearly $47 billion of the total meme coin market cap of $51 billion, according to CoinGecko. While they unashamedly represent the lighter side of the cryptocurrency market, some commentators believe that meme coins could continue to show impressive returns due…
The Binance investigators submitted a report alleging DWF had manipulated the price of several tokens on the back of $300 million of wash trades in 2023, but Binance deemed there was insufficient evidence of market abuse, the WSJ said. A week after the report’s submission, the head of the team was fired, according to the newspaper. Read the full article here
“In principle, people participate in meme coins because (i) the value might go up, (ii) they feel democratic and open for anyone to participate, and (iii) they are fun,” Vitalik Buterin, founder of leading smart contract blockchain Ethereum, which is also the home to several popular meme coins, said in a blog post. Read the full article here
MarketVector’s Meme Coin Index, which trades under the symbol MEMECOIN, tracks the top six meme tokens. The largest holdings of the meme coin index include Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE). Other holdings include dogwifhat (WIF}, Floki Inu (FLOKI), and BONK. Read the full article here