In a very unexpected development, the US Securities Commission (SEC) in just a few days changed its entire stance on ETH, from referring to this currency as a security to preliminary approval of 8 proposals. Spot Ethereum ETFs from Wall Street giants. This has created the impetus for ETH and other currencies in the Ethereum system to grow spectacularly in the past week, restoring investor interest after a somewhat gloomy May.
Let's review all the crypto movements of the week with Coin68 to make sure you don't miss any important news!
Volatility in top cryptocurrencies compared to 7 days ago. Coin360 screenshot at 10:05 AM on May 26, 2024
📌 Coin68 Originals - Must-read article
- Outstanding on-chain events last week (May 20 - May 25): BTC ETF cash flow returns - Whales take profit on ETH after news of ETH ETF approval - PEPE sets new ATH
- Perspective: The crypto community debates the Token issue "low supply, high FDV"
📺 Coin68 TV
- DeFi Discussion ep.148: Lending and "Power Wars"
- Analysis:
- Project review:
📄 News
Focus 🔥
- Ethereum spot ETF officially approved by SEC , ETH increased by 20%
- The US House of Representatives passed the FIT21 cryptocurrency management bill , the SEC Chairman and the Biden administration objected because of many shortcomings.
- Trump accepts crypto donations - Suspicion of SEC "spinning" Ethereum ETF for "political motives"
- Overview of the SEC's "messy" decisions surrounding the Ethereum spot ETF
Big Cap 💎
- Ethereum's Pectra upgrade is expected to be deployed in Q1/2025
- Vitalik Buterin shows solutions to overcome threats to decentralization on Ethereum
- Sei proposed upgrading V2 to add EVM integration
- Fantom (FTM) introduces Sonic Foundation, announcing a Capital call of 10 million USD
- Aevo coordinates with Airdrop partners for users
- BounceBit announces development roadmap for 2024
- Binance Labs announces investment in Aevo , Token reaches 13%
- LayerZero restarts the "sybil hunting" campaign on May 28
- Capital: Farcaster (150 million USD), Kelp DAO (9 million USD), Plume (10 million USD)
DeFi and Layer 2 🦄
- Uniswap officially voted for the fee Chia proposal for UNI holders on May 31
- Two Ethereum Foundation members revealed they are working as advisors to EigenLayer
- Layer-2 Ethereum networks recorded a record of 7 million active wallets in 1 week
- TVL ether.fi increased by 1 billion USD in just 5 days
- Swell increased Airdrop allocation, TGE later than scheduled
- Taiko reserves 5% of the total Token supply to Airdrop to users
- Zeta Markets plans to launch layer-2 Zeta X
- deBridge confirms Token Issuance
- Concern that 12 Layer-2 networks could be attacked through the Conduit "bottleneck".
Non-Fungible Token, GameFi and Metaverse 🖼 🎮🌐
- Gala Games was stolen 200 million USD by "Mint " hacker, Token price collapsed 15%
- CryptoPunks releases new Non-Fungible Token collection, receiving criticism from the community
Large organizations 💰
- Grayscale launches investment funds for Stacks and Near
- Genesis plans to return 3 billion USD in assets
- Figure Market and Pantera won the 3rd round of liquidation of locked SOL lots
- Prometheum launches a custody service that XEM ETH as a security
Legal and Reception ⚖️
- Uniswap denies SEC's securities allegations
- Worldcoin was forced to stop all operations in Hong Kong
- Venezuela joins the Bitcoin mining ban list
Coin68 compiled
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