Everything web3, crypto, defi, degen
In brief Prediction market Kalshi has been valued at $5 billion as it raised $300 million with participation from Sequoia, Andreessen Horowitz, Paradigm, and more. It comes the same week that rival Polymarket was valued at $9 billion via a $2 billion investment, which made its CEO the youngest “self-made” billionaire. The projects have been…
In brief Realized profits have fallen 50% since July, signaling restrained selling pressure. Long-term holders’ profit margins remain well below overheated cycle levels. Derivatives traders are clustering around $120,000 call options, reinforcing bullish sentiment. Bitcoin’s push to new record highs this week isn’t letting up, with on-chain data and derivatives activity revealing a market built…
In brief Zcash has surged over 140% in two weeks, hitting its highest level since 2021. Nearly $2 million in short positions were liquidated as the token climbed to $170. Analysts cite Grayscale access and endorsements from Naval Ravikant as key drivers. The token belonging to privacy blockchain Zcash has more than tripled in value…
In brief SenseMap pays contributors for on-chain, real-time mapping data. Google Maps’ ad business has been estimated to make $11 billion annually. Observers say consensus, not control, ensures accuracy. OpenLedger, a blockchain infrastructure firm building out AI systems for transparent data attribution, is expanding its ecosystem with the addition of SenseMap, a new decentralized mapping…
In brief MetaMask users can trade derivatives using Hyperliquid’s infrastructure. The self-custodial wallet plans to add support for Polymarket. MetaMask users can earn rewards, including Linea’s native token. Popular crypto wallet MetaMask unveiled native support for Hyperliquid on Wednesday, allowing users to more easily speculate on the price of various cryptocurrencies through the up-and-coming decentralized…
In brief BNB traded 0.8% higher while Ethereum and XRP posted losses, with analysts crediting its ecosystem utility and token-burning mechanisms for resilience. Former Binance CEO CZ’s YZi Labs announced a $1 billion fund for BNB Chain developers, boosting investor confidence in the token’s long-term prospects. BNB sits just 2% below its all-time high, having…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors fall after recent rally; BTC at $123,000 Gold makes new ATH at $4,070 up 50% on year Monad’s MON token…
In brief SEC Chair Paul Atkins says a formal “innovation exemption” could be finalized by year-end. The proposal follows years of regulatory uncertainty that pushed crypto development overseas. Industry leaders say a structured framework could bring compliant innovation back to U.S. markets. The U.S. Securities and Exchange Commission is preparing to codify an “innovation exemption”…
In brief BNB Chain meme coin prices and trading volumes are skyrocketing, with many tokens inspired by Binance founder Changpeng “CZ” Zhao. Some tokens have jumped more than 1,000%, while the leading token 4 has jumped to a $243 million market cap. Earlier this year, a token named after CZ’s dog Broccoli exploded in popularity…
In brief Publicly traded firm CEA Industries said Tuesday that it now holds 480,000 BNB, valued above $600 million. The price of BNB has surged 27% in the last week alone, hitting a new high of $1,330 on Tuesday. Shares of CEA Industries, which trades as BNC on the Nasdaq, rose 8% following the announcement.…
