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The Era of Ethereum ETFs

On the first day of trading, investors exchanged over $1 billion in shares of the new Ethereum ETFs, Bloomberg reports. Of this, there was a net inflow of $106.7 million , mostly from Grayscale's Ethereum Trust (ETHE), which saw $484 million in outflows. Many expected low volume and flow for the ETH ETFs due to the absence of a staking mechanism.

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MEW Takes the Crown

Solana’s meme token, Cat in Dog’s World (MEW), has pounced to the top, becoming the biggest gainer of the week. Hot on its heels are Helium (HNT) and Pyth Network (PYTH). On the flip side, Lido DAO (LDO) has taken a tumble, emerging as the biggest loser among the top 100 cryptocurrencies.

cat in a dogs world MEW

$0.0072 ▴ 83.94%

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Helium HNT

$5.30 ▴ 24.57%

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Pyth Network PYTH

$0.39 ▴ 12.72%

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Behind the Headlines

Cryptocurrencies dropped on Tuesday as Kraken began distributing assets to Mt. Gox creditors , creating potential sell pressure. Bitcoin fell nearly 4% to $65,500, while Bitcoin Cash plunged over 7%.

Decentralized crypto exchange giant dYdX announced on Tuesday that its dYdX v3 trading platform had been compromised . They warned users to avoid dydx.exchange until further notice. The affected platform, which handles around $1.5 billion in weekly derivatives trading, is now under investigation, according to a tweet from dYdX.

Crypto traders are jumping into presidential politics with meme coins. Kamala Harris's coin, KAMA, doubled in price on Sunday , hitting 2.4 cents after President Biden dropped his re-election bid. KAMA's market cap is now $24 million, nearly four times larger than Biden's coin, BODEN, which fell 50%.

Binance's venture arm has invested in Pluto Studio, the publisher of the Catizen mini-game on Telegram. Launched in March, Catizen, a tap-to-earn game, quickly gained popularity, reaching 25 million users in just a few months. Pluto Studio plans to release a native clicker token, CATI, soon.

Ferrari will have rolled out its cryptocurrency payment system to European dealers by the end of July, following a successful launch in the U.S. less than a year ago. This move helps dealers meet the changing needs of customers. By the end of 2024, Ferrari plans to extend crypto payments to other countries where it's legally accepted.

Changelly Bestsellers

Monero XMR

$164 ▴ 2.88%

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Toncoin TON

$6.75 ▾ -7.65%

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Solana SOL

$178 ▴ 8.88%

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Tron TRX

$0.14 ▴ 1.61%

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Tether Tron Chain USDTRX

$1.00 ▴ 0.02%

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Meme of the Week

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