Crypto Chaos: Uniswap's Games, SOL's Stumble, Bitcoin's Gold Hoard

Despite market funks and fickle trends, crypto's dance continues: Uniswap plays games, SOL stumbles, and Big Bitcoin hoards gold—not cash.

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Bitcoin

Bitcoin's original "electronic cash" dream seems antiquated as hodling fuels the market and Trump stirs the political pot for some crypto clout.

Trump Champions Crypto Miners, Opposes CBDCs at Mar-a-Lago Summit

At a significant gathering in Mar-a-Lago, Donald Trump pledged his support for crypto miners, opposing the establishment of a Central Bank Digital Currency while promising international advocacy. The summit highlighted Trump's commitment to crypto, countering Biden’s cautious crypto approach, and drawing praise from industry leaders who see his stance potentially swaying pro-crypto voters.

Bitcoin Circulation Plummets to 13-Year Low

Bitcoin's circulation metric, 'Velocity,' has recently nosedived to a level not seen since 2011, indicating it's being hoarded more like digital gold rather than used as electronic cash, per CryptoQuant CEO Ki Young Ju. This significant drop throws a wrench into the original vision of Bitcoin as a peer-to-peer electronic cash system, as today's users tend to hold it for value rather than transaction purposes.

Bitcoin ETFs Experience Major Outflows, Breaking 19-Day Inflow Streak

Bitcoin ETFs recorded a significant $65 million net outflow on June 10, snapping a 19-day streak of positive inflows amid a dip in Bitcoin prices below $67,000. Major ETFs like Grayscale's GBTC and BlackRock's IBIT faced steep declines, shedding light on investor sentiment before key financial reports.

Ethereum

As Ethereum stumbles over price, MetaMask and Layer 2s race to build a safety net with innovation and inclusivity.

Ethereum Price Struggles Below $3,650 Amid Bearish Signals

Ethereum slips further below crucial $3,550 level, projecting a gloomy outlook beneath the key $3,600 mark as technical indicators suggest extended pain. A bearish trendline resistance at $3,650 and weak hourly MACD and RSI metrics corroborate the struggle, potentially mapping a rocky path ahead for ETH prices.

MetaMask Unveils Native Ethereum Staking to All Users

MetaMask introduces its innovative Pooled Staking feature, inviting users to stake any amount of ETH directly from their wallets and participate in Ethereum's security. This democratization of staking, powered by Consensys, targets current barriers by facilitating small-scale participation while maintaining a high security and efficiency standard.

Top Ethereum Layer 2 Crypto Projects to Watch in 2024

Dive into the tech-heavy analysis of Ethereum's most promising layer 2 projects for 2024, highlighting their innovative solutions for scalability and efficiency struggles. From Polygon's versatile toolkit to Arbitrum's low-cost prowess and dYdX's trading enhancements, the article sizes up market cap warriors and technology marvels.

Layer 1

Even as Solana trips over economic tripwires, its meme-powered rockets keep firing—logic, meet window.

Solana's SOL Struggles Amid Economic Uncertainty

Solana's SOL token plunged to a four-week low, hitting $145 amid macroeconomic fears and ongoing market instability. Despite the fall, SOL exhibits strong investor sentiment and market resilience, while the Solana Foundation works tirelessly to tackle network vulnerabilities including MEV threats.

Bearish Blues for SOL and DOGE Amid Crypto Market Dip

Solana (SOL) and Dogecoin (DOGE) are experiencing significant price declines as they navigate critical support levels, coinciding with Bitcoin's shaky stance near $66,000. Analysts point to a potential short-term downturn but hint at a recovery if Bitcoin manages a rally, setting a volatile stage for these altcoins.

Solana-Based Memecoins Hit Big Milestones

A new Solana-based memecoin called Angry Pepe Fork debuts with potential, alongside Brett memecoin's rapid market cap soar to $1 billion. Both coins exemplify the memecoin frenzy taking the crypto world by storm, attracting investors with their innovative features and robust community support.

AI and DePIN

Intelion's hefty $135M bet on AI could make Russian crypto mining a powerhouse, if the regulators play nice; meanwhile, Lina Khan's FTC guards the AI henhouse without stifling the innovation foxes.

Intelion's $135M AI Venture Shakes Up Russian Crypto Mining

Intelion Cloud, the new whiz kid on the block, announces a $135 million investment in AI, potentially revolutionizing the crypto mining landscape in Russia. A planned Samara Oblast data center aims to boost Intelion's computational capabilities and charm Moscow regulators with enhanced data hosting infrastructures.

FTC's AI Regulation Strategy Under Lina Khan's Leadership

FTC Chair Lina Khan lays out the agency's approach to AI, focusing on maintaining competition and monitoring emerging threats like voice-cloning fraud. While open to innovative ideas through public challenges, the FTC is committed to preventing anti-competitive practices and hype in the AI sector.

Gaming

Uniswap Labs just made its playground bigger by snagging ‘Crypto: The Game’—because who needs traditional advertising when you can have immersive blockchain games?

Uniswap Labs Acquires Blockchain Game 'Crypto: The Game'

Uniswap Labs has expanded its footprint in crypto by acquiring the blockchain-based survival game 'Crypto: The Game', a hit with a swift sell-out of its latest season in 13 minutes. The game's founders are now part of Uniswap, poised to enhance future gameplay, while ensuring the platform isn't just a promotional tool for Uniswap's services.

Legal

Even in high-stakes bank drama, it turns out you can’t buy luck in crypto with stolen millions.

South Korean Bank Heist Gone Crypto

A Woori Bank employee confesses to stealing $7.3 million for failed crypto ventures, voluntarily turning themselves in to South Korean police. This dramatic theft underscores issues within the banking sector's ability to safeguard assets amid a trend towards digital investments.