Everything web3, crypto, defi, degen
In brief Ethereum has risen nearly 3% this week, defying Bitcoin’s pullback and approaching the $4,000 mark for the fourth time since March 2024. Analysts cite growing ETF inflows, potential approval of staking, and institutional buying as key drivers behind the rally. Market watchers say a favorable macro backdrop, including Fed policy and AI-fueled risk…
In brief Strategy has closed a $2.5 billion offering of STRC, its new perpetual preferred stock. Funds were used to buy 21,021 BTC at an average price of $117,256. Strategy now holds around 629,000 BTC worth roughly $73 billion. Michael Saylor’s Strategy has yet again pulled off the largest crypto-linked equity raise this year, closing…
In brief Microsoft’s Copilot Mode enhances its Edge browser with AI-driven features like image analysis, video summaries, and more. Testing showed Copilot still requires precise prompts for accurate results and relies on captions for video analysis. It’s the next step in the race toward AI browsers that will fundamentally change how we use the web.…
In brief Bakkt is selling the unit to Project Labrador as part of its shift toward becoming a pure-play crypto platform. The loyalty business only generated roughly $10 million in Q2 revenue, compared to more than $568 million from its crypto services. Analysts told Decrypt the pivot sharpens focus but won’t easily close the gap…
In brief Ethereum treasury companies have acquired 1% of all ETH in circulation in just two months, with holdings worth nearly $9 billion approaching 2% of total supply. Standard Chartered’s Geoff Kendrick predicts ETH treasury holdings could grow 10-fold to eventually own 10% of all ETH, potentially pushing prices above $4,000. Leading treasury companies include…
In brief Bitcoin has traded between $117,000 and $119,000 for over two weeks, slipping 2% after a weekend rally. Ethereum has climbed to near the $4,000 level, backed by over $5 billion in ETF inflows and rising derivatives activity. XRP sentiment has improved as investors eye potential regulatory clarity. The cryptocurrency market extended its losses…
In brief CryptoPunks’ floor price has climbed 163% since August 2024, now exceeding $200,000 for the first time in over a year. A recent sweep of 45 Punks and rising Ethereum prices have fueled renewed interest in high-end NFTs. NFT trading on Ethereum hit its busiest day since February last week, with CryptoPunks driving over…
In brief Tron Inc. plans to raise up to $1 billion to fund ongoing TRX accumulation. The company disclosed its toy business no longer generates positive cash flow. Its strategy is an attempt at “aggressive liquidity engineering,” an analyst told Decrypt. Tron Inc., a Nasdaq-listed company formerly focused on theme park merchandise, has registered up…
In brief Ethereum topped $3,900, its first time above that level since December, before retreating. Bernstein analysts said that Ethereum treasuries would have to weigh liquidity risks. The ETH treasuries have followed a general model pioneered by Bitcoin pioneers like Strategy. Ethereum treasuries are treating the asset differently than their Bitcoin-focused counterparts, generating staking rewards…
In brief Nasdaq-listed Mill City Ventures III is the latest company to start a crypto treasury. The financial firm will buy SUI. Increasingly more publicly traded companies are buying altcoins. Bitcoin treasury firm Strategy started the trend but now companies are diving into other cryptocurrencies to put on their balance sheets—with the latest being SUI. Nasdaq-listed…
